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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2015	Feb. 19, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Trading Symbol	MSCI
Entity Registrant Name	MSCI Inc.
Entity Central Index Key	0001408198
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		98,786,211
Entity Public Float			$ 6,693,433,307

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 777,706	$ 508,799
Accounts receivable (net of allowances of $1,117 and $857 as of December 31, 2015 and 2014, respectively)	208,239	178,717
Deferred taxes		22,209
Prepaid income taxes	46,115	29,180
Prepaid and other assets	31,211	30,553
Total current assets	1,063,271	769,458
Property, equipment and leasehold improvements (net of accumulated depreciation of $114,680 and $92,808 at December 31, 2015 and 2014, respectively)	98,926	94,074
Goodwill	1,565,621	1,564,904
Intangible assets (net of accumulated amortization of $418,512 and $372,209 at December 31, 2015 and 2014, respectively)	391,490	433,628
Non-current deferred tax assets	9,180	3,944
Other non-current assets	18,499	16,525
Total assets	3,146,987	2,882,533
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	2,512	2,835
Accrued compensation and related benefits	116,619	111,408
Other accrued liabilities	61,433	47,894
Deferred revenue	317,552	310,775
Total current liabilities	498,116	472,912
Long-term debt	1,579,404	788,358
Deferred taxes	110,937	137,838
Other non-current liabilities	57,043	50,592
Total liabilities	2,245,500	1,449,700
Commitments and Contingencies (see Note 6 and Note 10)
Shareholders' equity:
Preferred stock (par value $0.01; 100,000,000 shares authorized; no shares issued)
Common stock (par value $0.01; 750,000,000 common shares authorized at December 31, 2015 and 2014; 128,200,189 and 126,637,390 common shares issued at December 31, 2015 and 2014, respectively; and 101,013,148 and 112,072,469 common shares outstanding at December 31, 2015 and 2014, respectively)	1,282	1,266
Treasury shares, at cost (27,187,041 and 14,564,921 shares at December 31, 2015 and 2014, respectively)	(1,395,695)	(588,378)
Additional paid in capital	1,173,183	1,022,221
Retained earnings	1,158,462	1,022,695
Accumulated other comprehensive loss	(35,745)	(24,971)
Total shareholders' equity	901,487	1,432,833
Total liabilities and shareholders' equity	$ 3,146,987	$ 2,882,533

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 1,117	$ 857
Property, equipment and leasehold improvements, accumulated depreciation	114,680	92,808
Intangible assets, accumulated amortization	$ 418,512	$ 372,209
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	128,200,189	126,637,390
Common stock, shares outstanding	101,013,148	112,072,469
Treasury shares	27,187,041	14,564,921

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Operating revenues	$ 272,893	$ 268,771	$ 270,580	$ 262,769	$ 251,105	$ 251,661	$ 254,226	$ 239,688	$ 1,075,013	$ 996,680	$ 913,364
Operating expenses:
Cost of revenues	64,804	65,593	67,394	69,904	69,839	69,770	70,212	66,802	267,695	276,623	240,697
Selling and marketing	39,809	38,809	42,028	41,648	40,805	41,402	40,506	41,126	162,294	163,839	137,693
Research and development	17,776	15,548	20,807	23,189	17,235	19,021	17,374	17,465	77,320	71,095	61,003
General and administrative	23,590	19,960	22,080	20,377	18,921	19,516	20,240	17,692	86,007	76,369	68,458
Amortization of intangible assets	11,803	11,710	11,695	11,702	11,591	11,574	11,442	11,270	46,910	45,877	44,798
Depreciation and amortization of property, equipment and leasehold improvements	7,568	8,049	8,065	7,207	7,620	6,342	5,921	5,828	30,889	25,711	20,384
Total operating expenses	165,350	159,669	172,069	174,027	166,011	167,625	165,695	160,183	671,115	659,514	573,033
Operating income	107,543	109,102	98,511	88,742	85,094	84,036	88,531	79,505	403,898	337,166	340,331
Interest income	(492)	(285)	(185)	(204)	(226)	(277)	(192)	(156)	(1,166)	(851)	(889)
Interest expense	22,896	17,267	11,116	11,108	15,791	5,604	5,366	5,059	62,387	31,820	26,256
Other expense (income)	(297)	(6,922)	164	178	(1,199)	(1,287)	(726)	1,071	(6,877)	(2,141)	2,136
Other expense (income), net	22,107	10,060	11,095	11,082	14,366	4,040	4,448	5,974	54,344	28,828	27,503
Income from continuing operations before provision for income taxes	85,436	99,042	87,416	77,660	70,728	79,996	84,083	73,531	349,554	308,338	312,828
Provision for income taxes	25,437	34,644	31,399	28,036	27,459	28,272	27,280	26,385	119,516	109,396	112,918
Income from continuing operations									230,038	198,942	199,910
Income (loss) from discontinued operations, net of income taxes	(593)			(5,797)	1,071	(10)	50,857	33,253	(6,390)	85,171	22,647
Net income	$ 59,406	$ 64,398	$ 56,017	$ 43,827	$ 44,340	$ 51,714	$ 107,660	$ 80,399	$ 223,648	$ 284,113	$ 222,557
Earnings per basic common share:
Earnings per basic common share from continuing operations	$ 0.59	$ 0.59	$ 0.50	$ 0.44	$ 0.38	$ 0.44	$ 0.48	$ 0.40	$ 2.11	$ 1.72	$ 1.66
Earnings per basic common share from discontinued operations									(0.06)	0.73	0.19
Earnings per basic common share	0.58	0.59	0.50	0.39	0.39	0.44	0.92	0.68	2.05	2.45	1.85
Earnings per diluted common share:
Earnings per diluted common share from continuing operations	0.58	0.59	0.50	0.44	0.38	0.44	0.48	0.40	2.09	1.70	1.64
Earnings per diluted common share from discontinued operations									(0.06)	0.73	0.19
Earnings per diluted common share	$ 0.57	$ 0.59	$ 0.50	$ 0.39	$ 0.39	$ 0.44	$ 0.91	$ 0.68	$ 2.03	$ 2.43	$ 1.83
Weighted average shares outstanding used in computing earnings per share:
Basic	102,837	108,773	112,143	112,520	112,299	116,251	116,702	117,582	109,124	115,737	120,100
Diluted	103,589	109,440	112,931	113,522	113,289	117,163	117,664	118,597	109,926	116,706	121,074
Dividends declared per common share	$ 0.22	$ 0.22	$ 0.18	$ 0.18	$ 0.18				$ 0.80	$ 0.18

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income	$ 223,648	$ 284,113	$ 222,557
Other comprehensive income (loss):
Foreign currency translation adjustments	(12,253)	(18,053)	1,295
Income tax effect	135	(132)	(500)
Foreign currency translation adjustments, net	(12,118)	(18,185)	795
Unrealized gains (losses) on cash flow hedges			1,364
Income tax effect			(524)
Unrealized gains (losses) on cash flow hedges, net			840
Unrealized gains (losses) on available-for-sale securities			(5)
Income tax effect			2
Unrealized gains (losses) on available-for-sale securities, net			(3)
Pension and other post-retirement adjustments	1,872	(8,299)	624
Income tax effect	(528)	2,163	(110)
Pension and other post-retirement adjustments, net	1,344	(6,136)	514
Other comprehensive income (loss), net of tax	(10,774)	(24,321)	2,146
Comprehensive income	$ 212,874	$ 259,792	$ 224,703

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2012	$ 1,413,950	$ 1,240	$ (120,926)	$ 1,000,014	$ 536,418	$ (2,796)
Net income	222,557				222,557
Other comprehensive income (loss), net of tax	2,146					2,146
Common stock issued	8	8
Compensation payable in common stock and options	24,552			24,552
Common stock repurchased and held in treasury	(112,183)		(147,183)	35,000
Common stock issued to directors and held in treasury	(282)		(282)
Exercise of stock options	11,702	8		11,694
Excess tax benefits from employee stock incentive plans	1,897			1,897
Balance at Dec. 31, 2013	1,564,347	1,256	(268,391)	1,073,157	758,975	(650)
Net income	284,113				284,113
Dividends	(20,397)		(4)		(20,393)
Other comprehensive income (loss), net of tax	(24,321)					(24,321)
Common stock issued	5	5
Compensation payable in common stock and options	26,553			26,553
Common stock repurchased and held in treasury	(409,651)		(319,651)	(90,000)
Common stock issued to directors and held in treasury	(332)		(332)
Exercise of stock options	9,681	5		9,676
Excess tax benefits from employee stock incentive plans	2,835			2,835
Balance at Dec. 31, 2014	1,432,833	1,266	(588,378)	1,022,221	1,022,695	(24,971)
Net income	223,648				223,648
Dividends	(87,852)			29	(87,881)
Other comprehensive income (loss), net of tax	(10,774)					(10,774)
Common stock issued	6	6
Compensation payable in common stock and options	25,963			25,963
Common stock repurchased and held in treasury	(716,782)		(806,782)	90,000
Common stock issued to directors and held in treasury	(506)		(535)	29
Exercise of stock options	19,698	10		19,688
Excess tax benefits from employee stock incentive plans	15,253			15,253
Balance at Dec. 31, 2015	$ 901,487	$ 1,282	$ (1,395,695)	$ 1,173,183	$ 1,158,462	$ (35,745)

Consolidated Statements of Cash Flows $ in Thousands	12 Months Ended
Consolidated Statements of Cash Flows $ in Thousands	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Cash flows from operating activities
Net income	$ 223,648	$ 284,113	$ 222,557
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets	46,910	48,617	58,203
Stock-based compensation expense	28,558	26,585	25,004
Depreciation of property, equipment and leasehold improvements	30,889	25,930	22,302
Amortization of debt origination fees	2,135	7,748	3,348
Deferred taxes	(10,288)	(4,960)	(15,066)
Amortization of discount on long-term debt		2,218	1,066
Excess tax benefits from share-based compensation	(15,253)	(2,835)	(1,897)
Gain on disposition of subsidiary, net of costs		(84,620)
Other non-cash adjustments	(2,067)	1,847	(371)
Changes in assets and liabilities, net of assets acquired and liabilities assumed:
Accounts receivable	(30,900)	(26,821)	(16,412)
Prepaid income taxes	(1,972)	(14,998)	7,927
Prepaid and other assets	(1,217)	(9,857)	(4,459)
Accounts payable	(298)	2,128	(2,145)
Deferred revenue	8,047	42,263	11,399
Accrued compensation and related benefits	5,087	88	7,057
Other accrued liabilities	17,165	8,428	(260)
Other	5,550	(201)	2,930
Net cash provided by operating activities	305,994	305,673	321,183
Cash flows from investing activities
Acquisitions, net of cash acquired	(6,500)	(14,921)	(23,268)
Proceeds from sales of investments	6,736
Proceeds from redemption of short-term investments			70,900
Dispositions, net of cash provided		362,811
Capitalized software development costs	(8,500)	(8,216)	(3,285)
Capital expenditures	(40,652)	(42,659)	(40,255)
Proceeds from the sale of property, equipment and leasehold improvements	55	22	29
Net cash (used in) provided by investing activities	(48,861)	297,037	4,121
Cash flows from financing activities:
Proceeds from borrowing	800,000	800,000
Repayment of long-term debt		(810,000)	(48,000)
Payment of issuance costs in connection with long-term debt	(10,477)	(14,800)
Repurchase of treasury shares	(700,715)	(409,651)	(112,183)
Dividends paid	(87,743)	(20,393)
Proceeds from the exercise of stock options	3,631	9,681	11,702
Excess tax benefits from stock-based compensation	15,253	2,835	1,897
Net cash provided by (used in) financing activities	19,949	(442,328)	(146,584)
Effect of exchange rates changes	(8,175)	(10,017)	(3,595)
Net increase in cash and cash equivalents	268,907	150,365	175,125
Cash and cash equivalents, beginning of period	508,799	358,434	183,309
Cash and cash equivalents, end of period	777,706	508,799	358,434
Supplemental disclosure of cash flow information:
Cash paid for interest	42,110	17,233	20,429
Cash paid for income taxes	129,534	120,419	128,167
Supplemental disclosure of non-cash investing activities:
Property, equipment and leasehold improvements in other accrued liabilities	3,644	$ 6,731	$ 3,396
Supplemental disclosure of non-cash financing activities:
Cash dividends declared, but not yet paid	$ 84

Introduction and Basis of Presentation

12 Months Ended

Dec. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Introduction and Basis of Presentation

1. INTRODUCTION AND BASIS OF PRESENTATION

Organization

MSCI Inc., together with its wholly-owned subsidiaries (the “Company” or “MSCI”), offers content, applications and services to support the needs of institutional investors throughout their investment processes. The Company’s flagship products are its global equity indexes, custom indexes, factor indexes and ESG indexes; its analytics products, including multi-factor models, pricing models, methodologies for performance attribution, models for statistical analysis, and tools for portfolio optimization, back testing and stress testing; its ESG research and ratings; and its real estate benchmarks, indexes, business intelligence and analytics.

On March 17, 2014, MSCI Inc. entered into a definitive agreement to sell Institutional Shareholder Services Inc. (“ISS”). As a result, the Company reported the operating results of ISS in “Income (loss) from discontinued operations, net of income taxes” in the Consolidated Statements of Income for the years ended December 31, 2015, 2014 and 2013. Unless otherwise indicated, the disclosures accompanying these consolidated financial statements reflect the Company’s continuing operations. The Company completed the sale of ISS on April 30, 2014. See Note 3, “Dispositions and Discontinued Operations,” for further details.

Following the disposition of ISS during the year ended December 31, 2014, MSCI had maintained one reportable segment. During the year ended December 31, 2015, MSCI changed its reportable segments to Index, Analytics and All Other. These three segments reflect certain changes made to the management of the Company’s product lines. This presentation also better aligns the Company’s financial reporting with how its products and services are offered to its clients and offers additional insight into how the Company is being managed. See Note 13, “Segment Information,” for further information about MSCI’s reportable segments.

Basis of Presentation

The consolidated financial statements include the accounts of MSCI Inc. and its wholly-owned subsidiaries. The Company’s policy is to consolidate all entities in which it owns more than 50% of the outstanding voting stock unless it does not control the entity. It is also the Company’s policy to consolidate any variable interest entity for which the Company is the primary beneficiary, of which the Company has none, as required by the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 810-10, “Consolidations.” For investments in any entities in which the Company owns 20% or less of the outstanding voting stock and significant influence does not exist, such investments are carried at cost.

The Company changed its presentation of operating expenses during the year ended December 31, 2015 in order to provide more transparency into the underlying cost base of the Company, consistent with how it is managed. Prior to the change, operating expenses were grouped and presented as cost of services and selling, general and administrative. Cost of services included costs related to research, data management and production, software engineering and production management functions. Selling, general and administrative consisted of expenses for sales and marketing staff, finance, human resources, legal and compliance, information technology infrastructure and corporate administration personnel. Operating expenses are now grouped and presented in the following activity categories: cost of revenues, selling and marketing, research and development and general and administrative. Costs are assigned to these categories based on the nature of the expense, or, when not directly attributable, an estimate is allocated based on the type of effort involved.

Cost of revenues consists of costs related to the production and servicing of the Company’s products and services and primarily include information technology costs associated with the production and delivery of its products and services, including data center, platform and infrastructure costs; costs to acquire, produce and maintain market data information; costs of research to support, maintain and rebalance existing products; costs of product management teams; costs of client service and consultant teams to support customer needs; as well as other support costs directly attributable to the cost of revenues including certain human resources, finance and legal costs.

Selling and marketing expenses consist of costs associated with acquiring new clients or selling new products or product renewals to existing clients and primarily includes the costs of our sales force and marketing teams as well as costs incurred in other groups associated with acquiring new business, including product management, research, technology and sales operations.

Research and development expenses consist of costs to develop new or enhance existing products and the costs to develop new or improved technology and service platforms for the delivery of our products and services and primarily includes the costs of application development, research, product management, project management and the technology support associated with supporting these efforts.

General and administrative expenses consist of costs primarily related to finance operations, human resources, office of the CEO, legal, corporate technology, corporate development and certain other administrative costs that are not directly attributed, but are instead allocated, to a product or service.

The recasting of previously issued financial information has been made to conform to the current presentation and does not represent a restatement of previously issued financial statements.

Significant Accounting Policies

Basis of Financial Statements and Use of Estimates

The Company’s consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These accounting principles require the Company to make certain estimates and judgments that can affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, as well as the reported amounts of revenue and expenses during the periods presented. Significant estimates and assumptions made by management include the deferral and recognition of revenue, research and development and software capitalization, the allowance for doubtful accounts, impairment of long-lived assets, accrued compensation, income taxes and other matters that affect the consolidated financial statements and related disclosures. The Company believes that estimates used in the preparation of these consolidated financial statements are reasonable; however, actual results could differ materially from these estimates.

Inter-company balances and transactions are eliminated in consolidation.

Revenue Recognition

In general, the Company applies SEC Staff Accounting Bulletin No. 104 (“SAB 104”), “Revenue Recognition,” in determining revenue recognition. Accordingly, the Company recognizes revenue when all the following criteria are met:

•

The Company has persuasive evidence of a legally binding arrangement,

•

Delivery has occurred,

•

Client fee is deemed fixed or determinable, and

•

Collection is probable.

When a sales arrangement requires the delivery of more than one product and service, revenue is recognized pursuant to the requirements of ASC Subtopic 605-25, “Revenue Arrangements with Multiple Deliverables.” Under the provisions of ASC Subtopic 605-25, elements within a multi-deliverable arrangement should be considered separate units of accounting if both of the following criteria are met:

•

The delivered items have value to the client on a standalone basis, which means they can be sold separately by any vendor or the client could resell the delivered items on a standalone basis; and

•

If the arrangement includes a general right of return relative to the delivered items, delivery or performance of the undelivered items is considered probable and substantially in the control of the vendor.

The Company has signed contracts with substantially all clients that set forth the fees to be paid for its products and services. Further, the Company regularly assesses the receivable balances for each client for collectability. The Company’s application service license arrangements generally do not include acceptance provisions, which generally allow a client to test the solution for a defined period of time before committing to the license. If a license agreement includes an acceptance provision, the Company does not recognize subscription revenues until the earlier of the receipt of a written client acceptance or, if not notified by the client that it is cancelling the license agreement, the expiration of the acceptance period.

The Company’s subscription agreements for hosted services include provisions that, among other things, allow clients, for no additional fee, to receive updates and modifications that may be made from time to time when and if available, for the term of the agreement, which is typically one year. These arrangements do not provide the client with the right to take possession of the application at any time. For sales arrangements with multiple deliverables, which may include application service subscription and professional services associated with implementation and other services, the Company evaluates each deliverable in these multiple-element arrangements to determine whether it represents a separate unit of accounting and allocates revenue accordingly, based on the Company’s best estimated sales price.

In most cases, the Company recognizes revenues from subscription arrangements ratably over the term of the license agreement pursuant to contract terms. The contracts state the terms under which these fees are to be calculated. The fees are recognized as the Company supplies the product and service to the client over the license period and are generally billed in advance, prior to the license start date. When implementation services are included, the Company recognizes revenues allocated to the subscription ratably from the date the application is put into production to the end of the license period. Revenues associated with implementation services are recognized ratably over the useful life of those services from the date the application is put into production. For products and services whose fees are based on estimated assets under management linked to the Company’s indexes, or contract values related to futures and options, the Company recognizes revenues based on estimates from independent third-party sources or the most recently reported information from the client. Revenues from subscription agreements for the receipt of periodic benchmark reports, digests, and other publications, which are most often associated with the Company’s real estate operating segment, are recognized upon delivery of such reports or data updates.

The Company’s software-related arrangements do not require significant modification or customization of any underlying software applications being licensed. Accordingly, the Company recognizes software revenues pursuant to the requirements of ASC Subtopic 985-605, “Software-Revenue Recognition.” The Company’s subscription agreements for software products include provisions that, among other things, would allow clients to receive unspecified, when and if available, software upgrades for no additional fee as well as the right to use the software products with maintenance and technical support for the term of the agreement, which is typically one year. Software agreements may include other consulting and professional services. In accordance with ASC Subtopic 985-605, “Software Revenue Recognition,” the Company does not have vendor specific objective evidence (“VSOE”) for these elements and therefore begins to recognize software related revenue ratably over the term of the license agreement once delivered.

Share-Based Compensation

Certain of the Company’s employees have received share-based compensation under certain compensation programs. The Company’s compensation expense reflects the fair value method of accounting for share-based payments under ASC Subtopic 718-10, “Compensation—Stock Compensation.” ASC Subtopic 718-10 requires measurement of compensation cost for equity-based awards at fair value and recognition of compensation cost over the service period, net of estimated forfeitures.

The fair value of MSCI restricted stock units (“RSUs”) is measured using the closing price of MSCI’s common stock on the date prior to grant. Restricted stock units subject to performance conditions (“PSUs”) are based on performance measures that impact the amount of shares that each recipient will receive upon vesting. The fair value of PSUs is measured using the closing price of MSCI’s common stock on the date prior to grant. Restricted stock units that are subject to the achievement of multi-year total shareholder return targets (“MSUs”) are performance awards with a market condition. The fair value of MSUs is determined using a Monte Carlo simulation model that creates a normal distribution of future stock prices, which is then used to value the awards based on their individual terms.

The fair value of MSCI standard stock options is determined using the Black-Scholes valuation model and the single grant life method. Under the single grant life method, option awards with graded vesting are valued using a single weighted-average expected option life. The fair value of MSCI stock options that contain stock price contingencies is determined using a Monte Carlo simulation model.

The Company recognizes the expense for an award granted to an employee who is not retirement-eligible utilizing the graded vesting method over the requisite service period. For all awards, the Company bases initial accruals of compensation cost on the estimated number of units for which the requisite service is expected to be rendered and, for PSUs, the performance targets expected to be achieved is also considered. If the estimated number of units or the number of units ultimately delivered changes from previous estimates, the cumulative effect on current and prior periods of a change is recognized in compensation cost in the period of the change. Because the probability of actual shares expected to be earned is reflected in the fair value of MSUs on the grant date, the expense to be recognized for these awards is not adjusted to reflect the actual shares earned.

Based on interpretive guidance related to share-based compensation, the Company’s policy is to accrue the estimated cost of share-based awards that are granted to retirement-eligible employees over the course of the prior year in which they were earned rather than expensing the awards on the date of grant. A portion of the awards granted to retirement-eligible employees consist of PSUs. For those PSUs, the Company bases initial accruals of compensation cost on the estimated number of units for which the requisite service is expected to be rendered. If the estimated number of units expected to convert changes from previous estimates based on the performance targets expected to be achieved, the cumulative effect of a change is recognized in compensation cost in the period of the change.

Research and Development

The Company accounts for research and development costs in accordance with several accounting pronouncements, including ASC Subtopic 730-10, “Research and Development.” ASC Subtopic 730-10 requires that research and development costs generally be expensed as incurred. The majority of the Company’s research and development costs are incurred in developing, reviewing and enhancing the methodologies and data models offered within its product portfolio by monitoring investment trends and drivers globally, as well as analyzing product-specific needs in areas such as capitalization-weighted, factor and specialized indexes, and instrument valuation, risk modeling, portfolio construction, asset allocation and value-at-risk simulation.

The Company applies the provisions of ASC Subtopic 350-40, “Internal Use Software,” and accounts for the cost of computer software developed for internal use by capitalizing qualifying costs, which are substantially incurred during the application development stage. The amounts capitalized include external direct costs of services used in developing internal-use software and payroll and payroll-related costs of employees directly associated with the development activities. Additionally, costs incurred relating to upgrades and enhancements to the software are capitalized if it is determined that these upgrades or enhancements provide additional functionality to the software.

For the year ended December 31, 2015, the Company capitalized $8.6 million of costs related to software developed for internal use and reversed $3.4 million of previously capitalized costs associated with the termination of a technology project in the Analytics segment. As a result, $5.2 million was the net amount capitalized in the Consolidated Statement of Financial Condition for the year ended December 31, 2015.

For the year ended December 31, 2014, the Company capitalized $8.3 million of costs related to software developed for internal use and reversed $1.0 million of previously capitalized costs associated with the termination of a technology project in the Analytics segment. As a result, $7.3 million was the net amount capitalized in the Consolidated Statement of Financial Condition for the year ended December 31, 2014.

Capitalized software development costs are amortized on a straight-line basis over the estimated useful life of the related product, which is typically three to five years, beginning with the date the software is placed into service.

Costs incurred in the preliminary and post-implementation stages of our products are expensed as incurred.

Income Taxes

Income tax expense is provided for using the asset and liability method, under which deferred tax assets and deferred tax liabilities are determined based on the temporary differences between the financial statement and income tax bases of assets and liabilities using currently enacted tax rates.

The Company regularly evaluates the likelihood of additional assessments in each of the taxing jurisdictions in which it is required to file income tax returns. The Company has recorded additional tax expense related to open tax years, which the Company’s management believes is adequate in relation to the potential for assessments. These amounts have been recorded in “Other non-current liabilities” on the Consolidated Statement of Financial Condition. The Company’s management believes the resolution of tax matters will not have a material effect on the Company’s consolidated financial condition. However, to the extent the Company is required to pay amounts in excess of its reserves, a resolution could have a material impact on its Consolidated Statement of Income for a particular future period. In addition, an unfavorable tax settlement could require use of cash and result in an increase in the effective tax rate in the period in which such resolution occurs.

As of December 31, 2015, the Company elected to change its policy prospectively regarding the classification of deferred tax assets and liabilities and related valuation allowance on the Company’s Consolidated Statements of Financial Condition. To comply with the amendments in ASU 2015-17 (see Note 2, “Recent Accounting Standards Updates” for further information), the Company will classify all deferred tax assets and liabilities as noncurrent. Prior periods were not retrospectively adjusted for the change in accounting principle.

Deferred Revenue

Deferred revenues represent amounts billed to customers for products and services in advance of delivery. The Company’s clients generally pay subscription fees annually or quarterly in advance. Deferred revenue is generally amortized ratably over the service period as revenue recognition criteria are met. Where the service period has not begun and the client has not paid or the contract has not been renewed, deferred revenues and accounts receivable are not recognized.

Goodwill

Goodwill is recorded as part of the Company’s acquisitions of businesses when the purchase price exceeds the fair value of the net tangible and separately identifiable intangible assets acquired. The Company’s goodwill is not amortized, but rather is subject to an impairment test each year, or more often if conditions indicate impairment may have occurred, pursuant to ASC Topic 350, “Intangibles—Goodwill and Other.”

The Company tests goodwill for impairment on an annual basis on July 1 and on an interim basis when certain events and circumstances exist. The testing for impairment is performed at the reporting unit level. Goodwill impairment is determined by comparing the estimated fair value of a reporting unit with its respective book value. If the estimated fair value exceeds the book value, goodwill at the reporting unit level is not deemed to be impaired. If the estimated fair value is below book value, however, further analysis is required to determine the amount of impairment. Additionally, if the book value of a reporting unit is zero or a negative value and it is determined that it is more likely than not that the goodwill is impaired, further analysis is required. As the estimated fair value of the Company’s reporting units exceeded their respective book value on the testing dates, no impairment of goodwill was recorded during the years ended December 31, 2015, 2014 and 2013.

The Company changed its reportable segments during the year ended December 31, 2015. Simultaneously, segment reporting and goodwill reporting units were updated in connection with this change. The Company reallocated its goodwill to its reporting units using a relative fair value allocation approach in accordance with applicable accounting guidance. The Company’s reporting units are the same as its operating segments. See Note 13, “Segment Information” for further information about MSCI’s operating segments.

Intangible Assets

The Company amortizes definite-lived intangible assets over their estimated useful lives. Definite-lived intangible assets are tested for impairment when impairment indicators are present, and, if impaired, written down to fair value based on either discounted cash flows or appraised values. No impairment of intangible assets has been identified during any of the periods presented. The Company has no indefinite-lived intangibles. The intangible assets have remaining useful lives ranging from one to 20 years.

Foreign Currency Translation

Assets and liabilities of operations having non-U.S. dollar functional currencies are translated at year-end exchange rates, and income statement accounts are translated at weighted average exchange rates for the year. Gains or losses resulting from translating foreign currency financial statements, net of related tax effects, are reflected in accumulated other comprehensive loss, a separate component of shareholders’ equity. Gains or losses resulting from foreign currency transactions incurred in currencies other than the local functional currency are included in non-operating “Other expense (income)” on the Consolidated Statement of Income.

Derivative Instruments

The Company applies ASC Subtopic 815-10, “Derivatives and Hedging,” which establishes accounting and reporting standards for derivative instruments and hedging activities. The Company may use interest rate swaps and forward contracts on foreign currency to manage risks generally associated with interest rate and foreign exchange rate fluctuations, respectively. The Company’s derivative financial instruments are used as risk management tools and not for speculative or trading purposes.

For derivative instruments that are designated and qualify as hedging instruments for accounting purposes, the Company documents and links the relationships between the hedging instruments and hedged items. The Company also assesses and documents at the hedge’s inception whether the derivatives used in hedging transactions were effective in offsetting changes in fair values associated with the hedged items. ASC Subtopic 815-10 provides that, for derivative instruments that qualify for hedge accounting being used to hedge cash flows, changes in the fair value are recognized in accumulated other comprehensive income (loss), a separate component of shareholders’ equity, until the hedged item is recognized in earnings. In addition, the ineffective portion of a derivative’s change in fair value is immediately recognized in earnings.

The Company manages foreign currency exchange rate risk through the use of derivative financial instruments comprised principally of forward contracts on foreign currency which are not designated as hedging instruments for accounting purposes. The objective of the derivative instruments is to minimize the income statement impact associated with assets and liabilities that are denominated in certain foreign currencies. Derivative instruments that do not qualify for hedge accounting are carried at fair value on the Consolidated Statement of Financial Condition with gains and losses recorded in the Consolidated Statement of Income in the period in which they are realized.

Property, Equipment and Leasehold Improvements

Property, equipment and leasehold improvements are stated at cost less accumulated depreciation and amortization. Depreciation of furniture and fixtures and computer and communications equipment are amortized using the straight-line method over the estimated useful life of the asset. Estimates of useful lives are as follows: furniture & fixtures – seven years; and, computer and related equipment – two to five years. Leasehold improvements are amortized on a straight-line basis over one to 21 years, which represents the lesser of the estimated useful life of the asset or, where applicable, the remaining term of the lease.

Treasury Stock

The Company holds repurchased shares of common stock as treasury stock. The Company accounts for treasury stock under the cost method and includes treasury stock as a component of shareholders’ equity.

In accordance with ASC Subtopic 505-10, “Equity,” the Company accounts for the capped accelerated share repurchase (“ASR”) agreements into which it enters as two separate transactions: (a) as shares of common stock acquired in a treasury stock transaction recorded on the acquisition date of the shares and (b) as a forward contract indexed to the Company’s own common stock. As such, the Company accounts for the shares that it receives under capped ASR agreements during the period as a repurchase of its common stock for the purpose of calculating earnings per common share. The Company has determined that the forward contracts indexed to the Company’s common stock meet all the applicable criteria for equity classification in accordance with ASC Subtopic 815-10 and, therefore, the capped ASR agreements are not accounted for as derivative instruments.

Allowance for Doubtful Accounts

The Company primarily licenses its products and services to institutional investors mainly in the United States, Europe and Asia (primarily Hong Kong and Japan). The Company periodically reviews receivable balances and maintains an allowance on customer accounts where estimated losses may result from the inability of its customers to make required payments. The Company does not require collateral.

An allowance for doubtful accounts is recorded when it is probable and estimable that a receivable will not be collected. Changes in the allowance for doubtful accounts from December 31, 2012 to December 31, 2015 were as follows:


	Amount
	(in thousands)
Balance as of December 31, 2012	$	964
Addition to provision		876
Amounts written off, net of recoveries		(560	)

Balance as of December 31, 2013	$	1,280
Addition to provision		452
Amounts written off, net of recoveries		(875	)

Balance as of December 31, 2014	$	857
Addition to provision		940
Amounts written off, net of recoveries		(680	)

Balance as of December 31, 2015	$	1,117

Accrued Compensation

The Company makes significant estimates in determining its accrued non-stock based compensation and benefits expenses. A significant portion of the Company’s employee incentive compensation programs are discretionary. Each year end, the Company determines the amount of discretionary cash bonus expense. The Company also reviews compensation and benefits expenses throughout the year to determine how overall performance compares to management’s expectations. These and other factors, including historical performance, are taken into account in accruing discretionary cash compensation estimates quarterly.

Concentrations

For the years ended December 31, 2015 and 2014, BlackRock, Inc. accounted for 10.3% and 10.6%, respectively, of the Company’s consolidated operating revenues. For the year ended December 31, 2013, no single customer accounted for 10.0% or more of the Company’s consolidated operating revenues. For the years ended December 31, 2015, 2014 and 2013, BlackRock, Inc. accounted for 19.2%, 20.1% and 18.6%, respectively, of the Index segment operating revenues. No single customer accounted for 10.0% or more of revenues within the Analytics and All Other segments for the years ended December 31, 2015, 2014 and 2013.

Recent Accounting Standards Updates	12 Months Ended
Recent Accounting Standards Updates	Dec. 31, 2015
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Standards Updates	2. RECENT ACCOUNTING STANDARDS UPDATES In April 2014, the FASB issued Accounting Standards Update No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” or ASU 2014-08. The amendments in this update change the requirements for reporting discontinued operations under ASC Subtopic 205-20, “Presentation of Financial Statements—Discontinued Operations,” such as limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. The amendments in this update also require expanded disclosures in order to provide users of financial statements with more information about the assets, liabilities, revenues and expenses of discontinued operations. Further, the amendments require an entity to disclose the pretax profit or loss of an individually significant component of an entity that does not qualify for discontinued operations reporting. This new guidance is to be applied prospectively for annual periods beginning on or after December 15, 2014, and interim periods within those years, with early adoption permitted. The adoption of ASU 2014-08 did not have a material effect on its consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers,” or ASU 2014-09. The objective of ASU 2014-09 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle of ASU 2014-09 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the new guidance, an entity will (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the contract’s performance obligations; and (5) recognize revenue when, or as, the entity satisfies a performance obligation. Companies have the option of using either a full retrospective or modified approach to adopt ASU 2014-09. In August 2015, the FASB issued Accounting Standards Update No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” or ASU 2015-14. The amendments in ASU 2015-14 defer the effective date of the new revenue standard by one year by changing the effective date to be for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017 from December 15, 2016, with early adoption at the prior date permitted. The Company is continuing to evaluate the potential impact that the update will have on its consolidated financial statements. In January 2015, the FASB issued Accounting Standards Update No. 2015-01, “Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items,” or ASU 2015-01. ASU 2015-01 eliminates the concept of an extraordinary item from GAAP. As a result, a company will no longer be required to segregate extraordinary items from the results of ordinary operations, to separately present an extraordinary item on its income statement, net of tax, after income from continuing operations or to disclose income taxes and earnings-per-share data applicable to an extraordinary item. A reporting entity may apply the amendments prospectively or retrospectively to all prior periods presented in the financial statements. However, ASU 2015-01 will still retain the presentation and disclosure guidance for items that are unusual in nature and occur infrequently. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2015, with early adoption permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The adoption of ASU 2015-01 is not expected to have a material effect on the Company’s consolidated financial statements. In April 2015, the FASB issued Accounting Standards Update No. 2015-03, “Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs,” or ASU 2015-03. The objective of ASU 2015-03 is to simplify the presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Prior to the issuance of ASU 2015-03, debt issuance costs were recognized and presented as a deferred charge (that is, an asset). The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2015, with early adoption permitted for financial statements that have not been previously issued. The Company early adopted ASU 2015-03 retrospectively during the year ended December 31, 2015. As a result of the retrospective adoption, the Company reclassified unamortized deferred financing fees of $1.2 million from “Prepaid and other assets” and $10.4 million from “Other non-current assets” as of December 31, 2014 to be a reduction in “Long-term debt” on the Consolidated Statement of Financial Condition. Adoption of this standard only resulted in the reclassification of items on the Consolidated Statement of Financial Condition and did not impact results of operations, retained earnings or cash flows in the current or previous interim and annual reporting periods. In April 2015, the FASB issued Accounting Standards Update No. 2015-05, “Intangibles—Goodwill and Other—Internal-Use Software,” or ASU 2015-05. The amendments in ASU 2015-05 provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2015, with early adoption permitted. The Company is evaluating the potential impact of the adoption of ASU 2015-05, but does not expect the adoption to have a material effect on its consolidated financial statements. In August 2015, the FASB issued Accounting Standards Update No. 2015-15, “Interest—Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements,” or ASU 2015-15. ASU 2015-15 adds clarity from the SEC’s perspective on the presentation and subsequent measurement of debt issuance costs associated with line-of-credit arrangements. The Company’s adoption of ASU 2015-15 did not have a material impact on its consolidated financial statements. In September 2015, the FASB issued Accounting Standards Update No. 2015-16, “Business Combinations,” or ASU 2015-16. ASU 2015-16 simplifies the accounting for adjustments made to provisional amounts recognized in a business combination by eliminating the requirement to account for adjustments retrospectively. The amendments in ASU 2015-16 require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2015, with early adoption permitted. The Company is evaluating the potential impact of the adoption of ASU 2015-16, but does not expect the adoption to have a material effect on its consolidated financial statements. In November 2015, the FASB issued Accounting Standards Update No. 2015-17, “Balance Sheet Classification of Deferred Taxes,” or ASU 2015-17. ASU 2015-17 simplifies the presentation of deferred income taxes by classifying current and noncurrent deferred tax assets and liabilities as noncurrent on the Consolidated Statement of Financial Condition. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2016, with early adoption permitted. The Company early adopted ASU 2015-17 prospectively for the year ended December 31, 2015. Prior periods have not been changed to reflect these change in classifications, Adoption of this standard only resulted in the reclassification of items on the Consolidated Statement of Financial Condition and did not impact results of operations, retained earnings or cash flows in the current or previous interim and annual reporting periods. In January 2016, the FASB issued Accounting Standards Update No. 2016-01, “Financial Instruments—Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10),”or ASU 2016-01. Changes primarily impact the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017. The adoption of ASU 2016-01 is not expected to have a material effect on the Company’s consolidated financial statements.

- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

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+ Details

Disposition and Discontinued Operations

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Disposition and Discontinued Operations

3. DISPOSITIONS AND DISCONTINUED OPERATIONS

Disposition of CFRA

On March 31, 2013, MSCI completed the sale of its CFRA product line. The value of the disposed assets and liabilities and the resulting gain on disposal were not material to the Company.

Disposition of ISS

On March 17, 2014, MSCI entered into a definitive agreement to sell ISS. The results of operations from ISS and the CFRA product line are reflected in “Income (loss) from discontinued operations, net of income taxes” in the Consolidated Statements of Income.

The sale of ISS was completed on April 30, 2014 for $367.4 million. The value of the assets and liabilities of ISS that were disposed, directly attributable transaction costs and the resulting gain on disposal that has been reported in “Income (loss) from discontinued operations, net of income taxes” for the year ended December 31, 2014 are as follows:


	Amount (in thousands)
Cash proceeds	$	367,355
Less: Initial working capital adjustments		(311	)

Total proceeds		367,044
Less assets sold and liabilities relieved resulting from disposal:
Cash and cash equivalents		(4,544	)
Accounts receivable		(15,765	)
Deferred taxes (current)		(3,174	)
Prepaid taxes		(617	)
Prepaid and other assets		(4,500	)
Property, equipment and leasehold improvements (net of accumulated depreciation and amortization of $4,213)		(8,544	)
Goodwill		(254,233	)
Intangible assets (net of accumulated amortization of $50,283)		(121,269	)
Other non-current assets		(1,645	)
Accounts payable		574
Accrued compensation and related benefits		6,783
Other accrued liabilities		4,034
Deferred revenue		51,767
Deferred taxes (non-current)		59,129
Other non-current liabilities		5,576
Other comprehensive income including currency translation adjustments and pension and other post-retirement adjustments		4,004

Net assets sold		(282,424	)
Less: Transaction costs		(5,946	)

Gain on sale of ISS	$	78,674

Income (loss) from discontinued operations. Amounts associated with discontinued operations reflected in the Consolidated Statements of Income for the years ended December 31, 2015, 2014 and 2013 are as follows:


	Years Ended
	December 31, 2015			December 31, 2014		December 31, 2013
	(in thousands)
Revenue from discontinued operations	$	—		$	43,122	$	122,303

Income (loss) from discontinued operations before provision (benefit) for income taxes	$	—		$	86,230	$	32,793
Provision for income taxes		6,390			1,059		10,146

Income (loss) from discontinued operations, net of income taxes	$	(6,390	)	$	85,171	$	22,647

The year ended December 31, 2015 reflects the impact of out-of-period income tax charges associated with the tax obligations triggered upon the sale of ISS.

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Reclassifications out of Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2015

Statement of Comprehensive Income [Abstract]

Reclassifications out of Accumulated Other Comprehensive Income (Loss)

4. RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

As required by ASC Subtopic 220-10, “Comprehensive Income—Overall,” the following table presents the amounts reclassified from accumulated other comprehensive income (loss) by the respective line item in the Consolidated Statement of Income:

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)⁽¹⁾


Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)									Affected Line Item in the Unaudited Condensed Consolidated Statements of Income
	Years Ended
	December 31, 2015			December 31, 2014			December 31, 2013
	(in thousands)
Unrealized losses on cash flow hedges
Interest rate contracts	$	—		$	—		$	(1,364	)	Interest expense
		—			—			524		Income tax benefit

	$	—		$	—		$	(840	)	Net of tax

Unrealized gains on available-for-sale securities
Short-term investments	$	—		$	—		$	5
		—			—			(2	)	Provision for income taxes

	$	—		$	—		$	3		Net of tax

Defined benefit pension plans
Amount recognized as a component of net periodic benefit expense for curtailments and settlements	$	(563	)	$	(104	)	$	(32	)⁽²⁾
		153			(15	)		6	⁽³⁾	Provision for income taxes

	$	(410	)	$	(119		$	(26	)⁽⁴⁾	Net of tax

Foreign currency translation adjustment	$	—		$	4,184		$	—	⁽⁵⁾

Total reclassifications for the period, net of tax	$	(410	)	$	4,065		$	(863	)

⁽¹⁾	Amounts in parentheses indicate expenses or losses moved to the Consolidated Statements of Income.

⁽²⁾	Includes $(186,000) for the year ended December 31, 2014 that was reclassified to “Income (loss) from discontinued operations, net of taxes” as part of the gain on the disposition of ISS.

⁽³⁾	Includes $6,000 for the year ended December 31, 2014 that was reclassified to “Income (loss) from discontinued operations, net of taxes” as part of the gain on the disposition of ISS.

⁽⁴⁾	Includes $(180,000) for the year ended December 31, 2014 that was reclassified to “Income (loss) from discontinued operations, net of taxes” as part of the gain on the disposition of ISS.

⁽⁵⁾	This accumulated other comprehensive income component for the year ended December 31, 2014 was reclassified to “Income (loss) from discontinued operations, net of taxes” as part of the gain on the disposition of ISS.

Earnings Per Common Share

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Common Share

5. EARNINGS PER COMMON SHARE

Basic earnings per share (“EPS”) is computed by dividing income available to MSCI common shareholders by the weighted average number of common shares outstanding during the period. Common shares outstanding include common stock and vested restricted stock unit awards where recipients have satisfied either the explicit vesting terms or retirement-eligible requirements. Diluted EPS reflects the assumed conversion of all dilutive securities. There were 3,778, 78,260 and 26,407, anti-dilutive securities excluded from the calculation of diluted EPS for the years ended December 31, 2015, 2014 and 2013, respectively, because of their anti-dilutive effect.

The Company computes EPS using the two-class method and determines whether instruments granted in share-based payment transactions are participating securities. The following table presents the computation of basic and diluted EPS:


	Years Ended
(in thousands, except per share data)	December 31, 2015			December 31 2014			December 31 2013
Income from continuing operations, net of income taxes	$	230,038		$	198,942		$	199,910
Income (loss) from discontinued operations, net of income taxes		(6,390	)		85,171			22,647

Net income	$	223,648		$	284,113		$	222,557
Less: Allocations of earnings to unvested restricted stock units ⁽¹⁾		—			(368	)		(633	)


Earnings available to MSCI common shareholders	$	223,648		$	283,745		$	221,924


Basic weighted average common shares outstanding		109,124			115,737			120,100

Effect of dilutive securities:
Stock options and restricted stock units		802			969			974


Diluted weighted average common shares outstanding		109,926			116,706			121,074

Earnings per basic common share from continuing operations	$	2.11		$	1.72		$	1.66
Earnings per basic common share from discontinued operations		(0.06	)		0.73			0.19


Earnings per basic common share	$	2.05		$	2.45		$	1.85

Earnings per diluted common share from continuing operations	$	2.09		$	1.70		$	1.64
Earnings per diluted common share from discontinued operations		(0.06	)		0.73			0.19


Earnings per diluted common share	$	2.03		$	2.43		$	1.83

⁽¹⁾

Restricted stock units granted to employees prior to 2013 and restricted stock units granted to independent directors of the Company prior to April 30, 2015 had a right to participate in all of the earnings of the Company in the computation of basic EPS and, therefore, these restricted stock units were not included as incremental shares in the diluted EPS computation.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

6. COMMITMENTS AND CONTINGENCIES

Legal matters. From time to time, the Company is party to various litigation matters incidental to the conduct of its business. The Company is not presently party to any legal proceedings the resolution of which the Company believes would have a material effect on its business, operating results, financial condition or cash flows.

Leases. The Company leases facilities under non-cancelable operating lease agreements. The terms of certain lease agreements provide for rental payments on a graduated basis. The Company recognizes rent expense on the straight-line basis over the lease period and has accrued for rent expense incurred but not paid. Rent expense for the years ended December 31, 2015, 2014 and 2013 was $26.5 million, $27.0 million and $24.2 million, respectively.

Future minimum commitments for the Company’s operating leases in place as of December 31, 2015 are as follows:


Years Ending December 31,	Amount
	(in thousands)
2016	$	28,170
2017		26,416
2018		25,064
2019		20,369
2020		17,863
Thereafter		148,074


Total	$	265,956

Long-term debt. On June 1, 2010, the Company entered into a senior secured credit facility (the “2010 Credit Facility”). On March 14, 2011, the Company completed the repricing of the 2010 Credit Facility pursuant to Amendment No. 2 to the 2010 Credit Facility. On May 4, 2012, the Company amended and restated its 2010 Credit Facility (the credit agreement as so amended and restated, the “Amended and Restated Credit Facility”). The Amended and Restated Credit Facility provided for the incurrence of a new senior secured five-year Term Loan A Facility in an aggregate amount of $880.0 million (the “2012 Term Loan”) and a $100.0 million senior secured revolving facility (the “2012 Revolving Credit Facility”). The Amended and Restated Credit Facility also amended certain negative covenants, including financial covenants.

On December 12, 2013, the Company entered into an agreement that extended the maturity of the Amended and Restated Credit Facility from May 2017 to December 2018 (the “2013 Amended and Restated Credit Facility”). The Company also amended the amortization schedule of required debt payments under the 2012 Term Loan.

On November 20, 2014, the Company completed its first private offering of $800.0 million aggregate principal amount of 5.25% senior unsecured notes due 2024 (the “2024 Senior Notes”) and also entered into a $200.0 million senior unsecured revolving credit agreement (the “2014 Revolving Credit Agreement”) by and among the Company, as borrower, certain of its subsidiaries, as guarantors (the “subsidiary guarantors”), the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. The Company used the net proceeds from the offering of the 2024 Senior Notes, together with cash on hand, to repay in full its then outstanding term loan indebtedness of $794.8 million, which bore interest at LIBOR plus a margin of 2.25%.

On August 13, 2015, the Company completed its second private offering of $800.0 million aggregate principal amount of 5.75% senior unsecured notes due 2025 (the “2025 Senior Notes”). The Company intends to use the $789.5 million of net proceeds from the offering of the 2025 Senior Notes for general corporate purposes, including, without limitation, repurchases of its common stock.

The 2024 Senior Notes are scheduled to mature and be paid in full on November 20, 2024. At any time prior to November 15, 2019, the Company may redeem all or part of the 2024 Senior Notes upon not less than 30 nor more than 60 days’ prior notice at a redemption price equal to the sum of (i) 100% of the principal amount thereof, plus (ii) a make-whole premium as of the date of redemption, plus (iii) accrued and unpaid interest and additional interest, if any, thereon, to the date of redemption. In addition, the Company may redeem all or part of the 2024 Senior Notes, together with accrued and unpaid interest, on or after November 15, 2019, at redemption prices set forth in the indenture governing the 2024 Senior Notes. At any time prior to November 15, 2017, the Company may use the proceeds of certain equity offerings to redeem up to 35% of the aggregate principal amount of the 2024 Senior Notes, including any permitted additional notes, at a redemption price equal to 105.25% of the principal amount.

The 2014 Revolving Credit Agreement has an initial term of five years that may be extended, at the Company’s request, for two additional one year terms.

The 2025 Senior Notes are scheduled to mature and be paid in full on August 15, 2025. At any time prior to August 15, 2020, the Company may redeem all or part of the 2025 Senior Notes upon not less than 30 nor more than 60 days’ prior notice at a redemption price equal to the sum of (i) 100% of the principal amount thereof, plus (ii) a make-whole premium as of the date of redemption, plus (iii) accrued and unpaid interest and additional interest, if any, thereon, to the date of redemption. In addition, the Company may redeem all or part of the 2025 Senior Notes, together with accrued and unpaid interest, on or after August 15, 2020, at redemption prices set forth in the indenture governing the 2025 Senior Notes. At any time prior to August 15, 2018, the Company may use the proceeds of certain equity offerings to redeem up to 35% of the aggregate principal amount of the 2025 Senior Notes, including any permitted additional notes, at a redemption price equal to 105.75% of the principal amount.

Interest payments attributable to the 2024 Senior Notes are due on May 15 and November 15 of each year. The first interest payment was made on May 15, 2015. The Company paid $41.4 million of interest attributable to the 2024 Senior Notes during the year ended December 31, 2015. Interest payments attributable to the 2025 Senior Notes are due on February 15 and August 15 of each year. The first interest payment was made on February 16, 2016.

Long-term debt at December 31, 2015 was $1,579.4 million, net of $20.6 million in deferred financing fees. Long-term debt at December 31, 2014 was $788.4 million, net of $11.6 million in deferred financing fees. See Note 2, “Recent Accounting Standards Updates,” for further information on the presentation of debt issuance costs in the Consolidated Statements of Financial Condition.

In connection with the closing of the 2024 Senior Notes and 2025 Senior Notes offerings and entering into the 2014 Revolving Credit Agreement, the Company paid certain fees which, together with the existing fees related to prior credit facilities, are being amortized over the life of the 2024 Senior Notes, 2025 Senior Notes and the 2014 Revolving Credit Agreement. At December 31, 2015, $23.0 million of the deferred financing fees remain unamortized, $0.6 million of which is included in “Prepaid and other assets,” $1.8 million of which is included in “Other non-current assets” and $20.6 million of which is grouped and presented as part of “Long-term debt” on the Consolidated Statements of Financial Condition.

During the years ended December 31, 2015, 2014 and 2013, the Company amortized $2.1 million, $7.7 million, and $3.3 million of deferred financing fees in interest expense, respectively. There was no unamortized debt discount outstanding as of December 31, 2015 and 2014. Approximately $2.2 million and $1.1 million of debt discount was amortized in interest expense during the years ended December 31, 2014 and 2013, respectively.

At December 31, 2015 and 2014, the fair market value of the Company’s debt obligations were $1,638.0 million and $831.0 million, respectively. The fair market value is determined in accordance with accounting standards related to the determination of fair value and represents Level 2 valuations, which are based on one or more quoted prices in markets that are not considered to be active or for which all significant inputs are observable, either directly or indirectly. The Company utilizes the market approach and obtains security pricing from a vendor who uses broker quotes and third-party pricing services to determine fair values.

Derivatives and Hedging Activities. The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company had previously entered into derivative financial instruments to manage exposures that arose from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates, and may do so again in the future. The Company’s derivative financial instruments were used to manage differences in the amount, timing and duration of the Company’s known or expected cash payments principally related to the Company’s borrowings.

Certain of the Company’s foreign operations expose the Company to fluctuations of foreign exchange rates. These fluctuations may impact the value of the Company’s cash receipts and payments in terms of the Company’s functional currency, the U.S. dollar. The Company enters into derivative financial instruments to protect the value or fix the amount of certain obligations in terms of its functional currency.

Cash Flow Hedges of Interest Rate Risk. As a result of the repayment of the Company’s then-outstanding term loans on May 4, 2012 and March 14, 2011, the Company discontinued prospective hedge accounting on its then-existing interest rate swaps as they no longer met hedge accounting requirements. The Company has not entered into new interest rate swaps to hedge its debt. The Company continued to report the net loss related to the discontinued cash flow hedges in accumulated other comprehensive income (loss) and reclassified this amount into earnings through the contractual term of the swap agreements which ended in August 2013.

Non-designated Hedges of Foreign Exchange Risk. Derivatives not designated as hedges are not speculative and are used to manage the Company’s economic exposure to foreign exchange rate movements but do not meet the strict hedge accounting requirements. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. As of December 31, 2015, the Company had outstanding foreign currency forwards with a notional amount of $25.0 million that were not designated as hedges in qualifying hedging relationships.

The following table presents the fair values of the Company’s derivative instruments and the location in which they are presented on the Company’s Consolidated Statements of Financial Condition:


	Consolidated Statements of Financial Condition Location	As of
(in thousands)		December 31, 2015			December 31, 2014
Derivatives designated as hedging instruments:
Asset derivatives:
Foreign exchange contracts	Prepaid and other assets	$	640		$	—
Liability derivatives:
Foreign exchange contracts	Other accrued liabilities	$	(2	)	$	(243	)

The following tables present the effect of the Company’s financial derivatives and the location in which they are presented on the Company’s Consolidated Statements of Financial Condition and Consolidated Statements of Income:


Derivatives in Cash Flow Hedging Relationships	Amount of Gain or (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion) for the Years Ended December 31,						Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)		Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Effective Portion) for the Years Ended December 31,							Location of Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)		Amount of Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) for the Years Ended December 31,
(in thousands)	2015		2014		2013				2015		2014		2013					2015		2014		2013
Interest rate swaps	$	—	$	—	$	—		Interest expense	$	—	$	—	$	(1,364	)		Interest expense	$	—	$	—	$	—


Derivatives Not Designated as Hedging Instruments (in thousands)	Location of Gain or (Loss) Recognized in Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives for the Years Ended
		December 31, 2015		December 31, 2014			December 31, 2013
Foreign exchange contracts	Other expense (income)	$	366	$	(834	)	$	(139	)

Gain on sale of investment

During the year ended December 31, 2015, MSCI sold an investment accounted for under the cost method and recognized a $6.3 million gain which is included within the “Other expense (income), net” in the Consolidated Statements of Income.

Property, Equipment and Leasehold Improvements

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Property, Equipment and Leasehold Improvements

7. PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

Property, equipment and leasehold improvements at December 31, 2015 and 2014 consisted of the following:


		As of
Type	Estimated Useful Lives	December 31, 2015			December 31, 2014
		(in thousands)
Computer & related equipment	2 to 5 years	$	143,499		$	118,537
Furniture & fixtures	7 years		9,870			9,569
Leasehold improvements	1 to 21 years		47,579			49,756
Work-in-process	—		12,658			9,020

Subtotal			213,606			186,882
Accumulated depreciation and amortization			(114,680	)		(92,808	)

Property, equipment and leasehold improvements, net		$	98,926		$	94,074

Depreciation and amortization expense of property, equipment and leasehold improvements was $30.9 million, $25.7 million and $20.4 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

8. GOODWILL AND INTANGIBLE ASSETS

Goodwill.

The change to the Company’s goodwill was as follows:


(in thousands)	Goodwill
Goodwill at December 31, 2013	$	1,813,164
Changes to goodwill ⁽¹⁾		(244,299	)
Foreign exchange translation adjustment		(3,961	)

Goodwill at December 31, 2014	$	1,564,904
Changes to goodwill ⁽²⁾		4,202
Foreign exchange translation adjustment		(3,485	)


Goodwill at December 31, 2015 ⁽³⁾	$	1,565,621

⁽¹⁾

Changes to goodwill reflect the disposition and addition of goodwill associated with the sale of ISS, which removed $254.2 million, and the acquisition of GMI Ratings, which contributed $9.9 million. See Note 3, “Dispositions and Discontinued Operations,” and Note 12, “Acquisitions,” for additional information.

⁽²⁾	Changes to goodwill reflect the addition of $4.2 million of goodwill associated with the acquisition of Insignis. See Note 12, “Acquisitions,” for additional information.

⁽³⁾	At December 31, 2015, the goodwill assigned to the Index, Analytics and All Other reportable segments was $1,210.4 million, $302.5 million and $52.7 million, respectively.

Intangible Assets.

Amortization expense related to intangible assets for the years ended December 31, 2015, 2014 and 2013, was $46.9 million, $45.9 million and $44.8 million, respectively.

The gross carrying and accumulated amortization amounts related to the Company’s identifiable intangible assets were as follows:


	Estimated Useful Lives	As of
(in thousands)	Estimated Useful Lives	December 31, 2015			December 31, 2014⁽¹⁾
Gross intangible assets:
Customer relationships	5 to 21 years	$	361,746		$	360,835
Trademarks/trade names	5 to 21.5 years		223,382			223,382
Technology/software	3 to 8.5 years		199,889			193,681
Proprietary data	13 years		28,627			28,627
Covenant not to compete	2 years		1,225			900

Subtotal			814,869			807,425
Foreign exchange translation adjustment			(4,867	)		(1,588	)

Total gross intangible assets		$	810,002		$	805,837

Accumulated amortization:
Customer relationships		$	(143,325	)	$	(119,058	)
Trademarks/trade names			(93,476	)		(81,545	)
Technology/software			(175,209	)		(167,083	)
Proprietary data			(6,698	)		(4,589	)
Covenant not to compete			(665	)		(187	)

Subtotal			(419,373	)		(372,462	)
Foreign exchange translation adjustment			861			253

Total accumulated amortization		$	(418,512	)	$	(372,209	)


Net intangible assets:
Customer relationships		$	218,421		$	241,777
Trademarks/trade names			129,906			141,837
Technology/software			24,680			26,598
Proprietary data			21,929			24,038
Covenant not to compete			560			713

Subtotal			395,496			434,963
Foreign exchange translation adjustment			(4,006	)		(1,335	)

Total net intangible assets		$	391,490		$	433,628

⁽¹⁾

Intangible assets and the associated accumulated amortization as of December 31, 2014 reflect the disposition and addition of intangible assets associated with the sale of ISS and acquisition of GMI Ratings, respectively. See Note 3, “Dispositions and Discontinued Operations,” and Note 12, “Acquisitions,” for additional information.

Estimated amortization expense for succeeding years is presented below:


For the Years Ending December 31,	Amortization Expense
	(in thousands)
2016	$	47,965
2017		43,097
2018		39,863
2019		37,853
2020		36,106
Thereafter		186,606


Total	$	391,490

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Employee Benefits	12 Months Ended
Employee Benefits	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Employee Benefits	9. EMPLOYEE BENEFITS The Company sponsors a 401(k) plan for eligible U.S. employees and defined contribution and defined benefit pension plans that cover substantially all of its non-U.S. employees. For the years ended December 31, 2015, 2014 and 2013, costs relating to 401(k), pension and post-retirement benefit expenses were $23.1 million, $22.2 million and $18.2 million, respectively. Amounts included in cost of revenues for the years ended December 31, 2015, 2014 and 2013 were $10.7 million, $9.9 million and $8.4 million, respectively. Amounts included in selling and marketing for the years ended December 31, 2015, 2014 and 2013 were $6.8 million, $7.2 million and $5.6 million, respectively. Amounts included in research and development for the years ended December 31, 2015, 2014 and 2013 were $4.0 million, $3.7 million and $3.0 million, respectively. Amounts included in general and administrative for the years ended December 31, 2015, 2014 and 2013 were $1.6 million, $1.3 million and $1.2 million, respectively. 401(k) and Other Defined Contribution Plans. Eligible employees may participate in the MSCI 401(k) plan (or any other regional defined contribution plan sponsored by MSCI) immediately upon hire. Eligible employees receive 401(k) and other defined contribution plan matching contributions, which are subject to vesting and certain other limitations. The Company’s expenses associated with the 401(k) plan and other defined contribution plans for the years ended December 31, 2015, 2014 and 2013 were $18.4 million, $19.3 million and $15.7 million, respectively. Net Periodic Benefit Expense. Net periodic benefit expense incurred by the Company related to defined benefit pension plans was $4.7 million, $2.8 million and $2.5 million for the years ended December 31, 2015, 2014 and 2013, respectively. The Company uses a measurement date of December 31 to calculate obligations under its pension and postretirement plans. As of December 31, 2015 and 2014, the Company carried a $17.1 million and $16.7 million, respectively, net liability in other non-current liabilities on its Consolidated Statement of Financial Condition related to its future pension obligations. The fair value of the defined benefit plan assets were $16.4 million and $14.3 million at December 31, 2015 and 2014, respectively.

Shareholders' Equity

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Shareholders' Equity

10. SHAREHOLDERS’ EQUITY

The following note reflects the share repurchases and related activity as well as share-based compensation activity recognized by the Company, including the amounts recognized in both continuing operations and discontinued operations for all periods referenced.

Return of capital. On December 13, 2012, the Board of Directors approved a stock repurchase program authorizing the purchase of up to $300.0 million worth of shares of MSCI’s common stock beginning immediately and continuing through December 31, 2014 (the “2012 Repurchase Program”).

Prior to 2014, the Company repurchased an aggregate of $200.0 million worth of shares through multiple accelerated share repurchase (“ASR”) agreements under the 2012 Repurchase Program. On February 6, 2014, MSCI utilized the remaining $100.0 million repurchase authorization provided by the 2012 Repurchase Program.

On February 4, 2014, the Board of Directors approved a stock repurchase program authorizing the purchase of up to $300.0 million worth of shares of MSCI’s common stock, which was increased to $850.0 million on September 17, 2014 (the “2014 Repurchase Program”). On October 14, 2015, the Company exhausted the $850.0 million share repurchase authorization under the 2014 Repurchase Program.

On October 28, 2015, the Board of Directors approved a new stock repurchase program authorizing the purchase of up to $1.0 billion worth of shares of MSCI’s common stock (the “2015 Repurchase Program”). Share repurchases made pursuant to the 2015 Repurchase Program may take place in the open market or in privately negotiated transactions from time to time based on market and other conditions. This authorization may be modified, suspended or terminated by the Board of Directors at any time without prior notice.

On September 18, 2014, as part of the 2014 Repurchase Program, the Company entered into an ASR agreement to initiate share repurchases aggregating $300.0 million (the “September 2014 ASR Agreement”). As a result of the September 2014 ASR Agreement, the Company received approximately 4.5 million shares of MSCI’s common stock on September 19, 2014 and approximately 1.2 million shares of MSCI’s common stock on May 21, 2015 for a combined average price of $52.79 per share.

On June 2, 2015, the Company began purchasing shares of its common stock on the open market in accordance with SEC Rule 10b5-1. Through December 31, 2015, the Company paid $670.8 million to receive approximately 10.7 million shares on the open market as part of both the 2014 Repurchase Program and the 2015 Repurchase Program.

Pursuant to the 2014 Repurchase Program and the 2015 Repurchase Program, as of December 31, 2015 the Company purchased a total of 16.4 million shares for an average purchase price of $59.22 per share.

Since the announcement of the September 2014 $1.0 billion capital return plan and through December 31, 2015, approximately $1.1 billion was returned through share repurchases and cash dividends and a total of $1.4 billion was returned to shareholders since 2012.

The following table presents cash dividends declared and distributed per common share for the periods indicated:


	Dividends Per Share		Amount (in thousands)
2014:
Fourth quarter	$	0.18	$	20,393


2015:
First quarter	$	0.18	$	20,411
Second quarter		0.18		20,442
Third quarter		0.22		24,152
Fourth quarter		0.22		22,792

Total cash dividends declared and distributed	$	0.80	$	87,797

Common Stock.

The following table presents activity related to shares of common stock issued and repurchased for the periods indicated:


	Common Stock Issued		Treasury Stock			Common Stock Outstanding

Balance At December 31, 2012		124,033,980		(3,919,394	)		120,114,586
Common stock issued and exercise of stock options		1,517,381		—			1,517,381
Shares received for taxes and exercise price of stock awards		—		(352,086	)		(352,086	)
Shares received under stock repurchase programs		—		(3,197,371	)		(3,197,371	)
Stock issued to Directors and held in Treasury		3,907		(3,306	)		601

Balance At December 31, 2013		125,555,268		(7,472,157	)		118,083,111
Dividend payable/paid		99		(99	)		—
Common stock issued and exercise of stock options		1,076,751		—			1,076,751
Shares received for taxes and exercise price of stock awards		—		(233,163	)		(233,163	)
Shares received under stock repurchase programs		—		(6,856,866	)		(6,856,866	)
Stock issued to Directors and held in Treasury		5,272		(2,636	)		2,636

Balance At December 31, 2014		126,637,390		(14,564,921	)		112,072,469
Dividend payable/paid		802		(385	)		417
Common stock issued and exercise of stock options		1,558,965		—			1,558,965
Shares received for taxes and exercise price of stock awards		—		(763,558	)		(763,558	)
Shares received under stock repurchase programs		—		(11,856,169	)		(11,856,169	)
Stock issued to Directors and held in Treasury		3,032		(2,008	)		1,024

Balance At December 31, 2015		128,200,189		(27,187,041	)		101,013,148

Shared-Based Compensation. The Company regularly issues share-based compensation to its employees and directors who were not employees of the Company. The accounting guidance for share-based compensation requires measurement of compensation cost for share-based awards at fair value and recognition of compensation cost over the service period, net of estimated forfeitures.

In February 2016, the Company granted a portion of its employees with awards in the form of RSUs and MSUs. The total number of units granted was 711,329. The aggregate fair value of the awards was $42.5 million, of which approximately $9.8 million had been expensed in the year ended December 31, 2015 in relation to awards granted to retirement eligible employees under the award terms. A portion of the awards granted consisted of RSUs vesting over a three-year period, with one-third vesting on each anniversary of the grant in 2017, 2018 and 2019. A smaller portion of the awards granted consisted of MSUs that will time-vest over a three year period and are subject to the achievement of the applicable absolute total shareholder return compounded annual growth rate and relative total shareholder return compounded annual growth rate performance metrics measured over a minimum three-year performance period. The performance period may also be extended for an additional period of six months only in the event that both of the performance metrics achieved by the Company are below specified threshold performance levels.

Certain MSU awards were also granted under an equity compensation plan that was approved by the Board, but remains subject to shareholder approval. As a result, these awards are not considered to have been granted in accordance with ASC Subtopic 718-10. If the plan is approved, the fair value of the target number of shares underlying such awards will be determined as of the grant date, which will coincide with shareholder approval of the equity compensation plan. These awards are subject to achievement of the same performance metrics as those for the MSUs granted in February 2016 and will vest at the same time.

For a small group of awards granted by the Company, all or a portion of the award may be cancelled in certain limited situations, including termination for cause, if employment is terminated before the end of the relevant restriction period. For the remainder of the awards granted by the Company, all or a portion of the award may be cancelled if employment is terminated for certain reasons before the end of the relevant restriction period for non-retirement-eligible employees.

In connection with awards under its equity-based compensation and benefit plans, the Company is authorized to use newly issued shares or certain shares of common stock held in treasury.

The components of share-based compensation expense related to the awards to Company employees and directors who are not employees of the Company of restricted stock units and restricted stock awards (representing shares of common stock) and options to purchase shares of common stock, as applicable, are presented below:


(in thousands)	Years Ended
(in thousands)	December 31, 2015			December 31, 2014		December 31, 2013

Deferred stock	$	27,549		$	25,830	$	23,910
Stock options		(73	)		1,201		1,643


Total	$	27,476		$	27,031	$	25,553

The following table presents the amount of share-based compensation expense by category for the periods indicated:


(in thousands)	Years Ended
(in thousands)	December 31, 2015		December 31, 2014		December 31, 2013

Cost of revenues	$	6,909	$	7,187	$	7,490
Selling and marketing		6,564		7,296		5,721
Research and development		2,823		3,128		2,283
General and administrative		11,180		8,005		7,277


Total share-based compensation expense	$	27,476	$	25,616	$	22,771

There was no share-based compensation expense included in income (loss) from discontinued operations, net of income taxes for the year ended December 31, 2015. The amount included in income (loss) from discontinued operations, net of income taxes for the years ended December 31, 2014 and 2013 was $1.4 million and $2.8 million, respectively.

The tax benefits for share-based compensation expense related to deferred stock and stock options granted to Company employees and to directors who are not employees of the Company were $15.3 million, $2.8 million and $2.6 million for the years ended December 31, 2015, 2014 and 2013, respectively.

As of December 31, 2015, $14.5 million of compensation cost related to MSCI unvested share-based awards granted to the Company’s employees and to directors who are not employees of the Company had not yet been recognized. The unrecognized compensation cost relating to unvested stock-based awards expected to vest will be recognized primarily over the next one to three years.

In connection with awards under its equity-based compensation and benefit plans, the Company is authorized to issue shares of common stock. As of December 31, 2015, 6.7 million shares of common stock were available for future grants under these plans.

Deferred Stock Awards. Certain Company employees have been granted deferred stock awards pursuant to a share-based compensation plan. The plan provides for the deferral of a portion of certain employees’ discretionary compensation with awards made in the form of RSUs, PSUs and restricted stock awards (together, the “Deferred Stock Awards”). Recipients of RSUs, restricted stock awards and PSUs granted prior to January 2014 generally have rights to receive dividend equivalents that are not subject to vesting. Recipients of RSUs and PSUs granted in January 2014 and thereafter generally have rights to receive dividend equivalents that are subject to vesting. The Company reports the target number of PSUs granted unless it has determined, based on the actual achievement of performance measures, that an employee will receive a different amount of shares underlying the PSUs, in which case the Company reports the amount of shares employees are likely to receive.

The following table presents activity concerning the Company’s vested and unvested deferred stock awards applicable to its employees (share data in thousands) for the period indicated:


For the Year Ended December 31, 2015	Number of Shares			Weighted Average Grant Date Fair Value
Vested and unvested deferred stock awards at December 31, 2014 ⁽¹⁾		1,213		$	37.82
Granted		634		$	55.20
Conversion to common stock		(640	)	$	36.55
Canceled		(132	)	$	47.47


Vested and unvested deferred stock awards at December 31, 2015		1,075		$	47.70

⁽¹⁾	As of December 31, 2015, 1,054 restricted stock units and restricted stock awards, with a weighted average price of $47.60, were vested or expected to vest.

The total fair value of Deferred Stock Awards held by the Company’s employees that converted to MSCI common stock during the years ended December 31, 2015, 2014 and 2013 was $34.1 million, $24.5 million and $28.2 million, respectively.

The following table presents activity concerning the Company’s unvested deferred stock awards related to its employees (share data in thousands):


For the Year Ended December 31, 2015	Number of Shares			Weighted Average Grant Date Fair Value
Unvested deferred stock awards at December 31, 2014		883		$	37.99
Granted		499		$	55.45
Vested		(453	)	$	37.18
Canceled		(129	)	$	47.81


Unvested deferred stock awards at December 31, 2015		800		$	47.83


Unvested deferred stock awards expected to vest		779		$	47.69

Stock Option Awards. No MSCI stock options were issued during the years ended December 31, 2015 and 2014. During the year ended December 31, 2013, the Company awarded stock options to certain of its employees. The award was valued using a Black-Scholes valuation model. The weighted average fair value of MSCI stock options issued by the Company in the year ended December 31, 2013 was $19.18 utilizing the following assumptions:


	Assumptions
Risk free interest rate		1.87	%
Expected option life in years		6.50
Expected stock price volatility		46.07	%
Expected dividend yield		—

The expected stock price volatility assumption was determined using the historical volatility of the Company.

The following table presents activity concerning MSCI stock options granted to the Company’s employees for the year ended December 31, 2015 (option data and dollar values in thousands, except exercise price):


For the Year Ended December 31, 2015	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Life (Years)		Aggregated Intrinsic Value
Options outstanding at December 31, 2014		1,487		$	22.69		3.76		N/A
Granted or assumed		—		$	—		N/A		N/A
Forfeited		(63	)	$	40.14		N/A		N/A
Conversion to common stock		(939	)	$	20.97		N/A		N/A


Options outstanding at December 31, 2015		485		$	23.77		2.40	$	23,432


Options exercisable at December 31, 2015		435		$	22.29		2.68	$	21,669


Options vested or expected to vest		485		$	23.77		2.40	$	23,432

The following table presents information relating to the Company’s outstanding stock options as of December 31, 2015 (number of options outstanding and aggregate intrinsic value data in thousands):


As of December 31, 2015	Options Outstanding
Range of Exercise Prices	Number Outstanding		Weighted Average Exercise Price		Average Remaining Life (Years)		Aggregate Intrinsic Value
$9.92 to $16.48		55	$	15.54		2.80	$	3,109
$18.00		134	$	18.00		1.87	$	7,260
$20.45 to $24.11		153	$	22.45		1.95	$	7,581
$25.64 to $40.23		143	$	33.75		3.23	$	5,482


Total		485					$	23,432

The following table presents information relating to the Company’s exercisable stock options as of December 31, 2015 (number of options outstanding and aggregate intrinsic value data in thousands):


As of December 31, 2015	Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Exercise Price		Average Remaining Life (Years)		Aggregate Intrinsic Value
$9.92 to $16.48		55	$	15.54		2.80	$	3,109
$18.00		134	$	18.00		1.87	$	7,260
$20.45 to $24.11		153	$	22.45		1.95	$	7,581
$25.64 to $40.23		93	$	32.18		2.31	$	3,719


Total		435					$	21,669

The intrinsic value of the stock options exercised by the Company’s employees during the years ended December 31, 2015, 2014 and 2013 was $37.3 million, $12.8 million and $13.9 million, respectively.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Subparagraph (SX 210.4-08.(d),(e))
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Income Taxes

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

11. INCOME TAXES

The provision for income taxes (benefits) by taxing jurisdiction consisted of:


	Years Ended
	December 31, 2015			December 31, 2014			December 31, 2013
	(in thousands)
Current
U.S. federal	$	85,540		$	84,959		$	97,739
U.S. state and local		22,108			13,929			16,820
Non U.S.		22,156			18,505			18,270


		129,804			117,393			132,829

Deferred
U.S. federal		(10,546	)		(2,606	)		(14,362	)
U.S. state and local		1,460			(3,356	)		(3,802	)
Non U.S.		(1,202	)		(2,035	)		(1,747	)


		(10,288	)		(7,997	)		(19,911	)


Provision for income taxes from continuing operations	$	119,516		$	109,396		$	112,918


Provision for income taxes from discontinued operations	$	6,390		$	1,059		$	10,146

The following table reconciles the provision to the U.S. federal statutory income tax rate for income from continuing operations:


	Years Ended
	December 31, 2015			December 31, 2014			December 31, 2013
U.S. federal statutory income tax rate		35.00	%		35.00	%		35.00	%
U.S. state and local income taxes, net of U.S. federal income tax benefits		4.44	%		2.72	%		3.05	%
Change in tax rates applicable to non-U.S. earnings		(2.73	%)		(1.88	%)		(0.93	%)
Domestic tax credits and incentives		(2.62	%)		(0.86	%)		(0.95	%)
Other		0.10	%		0.50	%		(0.07	%)


Effective income tax rate		34.19	%		35.48	%		36.10	%

Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when such differences are expected to reverse. Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2015 and 2014, were as follows:


	As of
	December 31, 2015			December 31, 2014
	(in thousands)
Deferred tax assets:
Employee compensation and benefit plans	$	23,700		$	24,765
Deferred rent		7,485			7,229
State taxes		—			2,322
Pension		2,030			2,494
Unearned revenue		1,555			1,117
Loss carryforwards – current		—			1,667
Loss carryforwards – non-current		33,389			34,249
Other		678			1,979

Subtotal		68,837			75,822
Less: valuation allowance		(21,052	)		(21,232	)


Total deferred tax assets	$	47,785		$	54,590

Deferred tax liabilities:
Intangible assets	$	(138,832	)	$	(154,965	)
Foreign currency translation		(352	)		(629	)
Property, equipment and leasehold improvements, net		(10,358	)		(10,435	)
Other		—			(246	)


Total deferred tax liabilities	$	(149,542	)	$	(166,275	)


Net deferred tax liabilities	$	(101,757	)	$	(111,685	)

As presented in the table above, the Company has certain loss carryforward items. The tax value of the capital loss carryforward is $21.1 million which is set to expire in 2019. There is a full valuation allowance against this item. The tax value of the United States portion of the net operating loss carryforwards is $10.2 million which is subject to an annual limitation on utilization and will begin to expire in 2020.

The following table presents the components of income before provision for income taxes generated by domestic or foreign operations for the periods indicated:


	Years Ended
	December 31, 2015		December 31, 2014		December 31, 2013
	(in thousands)
Domestic	$	282,764	$	269,944	$	276,549
Foreign ⁽¹⁾		66,790		38,394		36,279

Total income before provision for income taxes	$	349,554	$	308,338	$	312,828

⁽¹⁾	Foreign income before provision for income taxes is defined as income generated from operations located outside the U.S., which includes income from foreign branches of U.S. companies.

Cumulative earnings attributable to foreign subsidiaries were $224.8 million, $149.1 million and $188.6 million for the years ended December 31, 2015, 2014, and 2013, respectively. No provisions for income tax that could occur upon repatriation have been recorded on these earnings which the Company intends to permanently reinvest abroad. At this time, it is not practicable to determine the amount of income taxes payable in the event all such foreign earnings are repatriated.

The Company regularly assesses the likelihood of additional assessments in each of the taxing jurisdictions in which it files income tax returns. The Company has established unrecognized tax benefits that the Company believes are adequate in relation to the potential for additional assessments. Once established, the Company adjusts unrecognized tax benefits only when more information is available or when an event occurs necessitating a change. As part of the Company’s periodic review of unrecognized tax benefits and based on new information regarding the status of federal and state examinations, the Company’s unrecognized tax benefits were remeasured. It is reasonably possible that significant changes in the balance of unrecognized tax benefits may occur within the next 12 months. At this time, however, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits and the impact on the effective tax rate over the next 12 months.

The Company believes the resolution of tax matters will not have a material effect on the Consolidated Statement of Financial Condition of the Company, although a resolution could have a material impact on the Company’s Consolidated Statement of Income for a particular future period and on the Company’s effective tax rate for any period in which such resolution occurs.

The following table presents a reconciliation of the beginning and ending amount of the gross unrecognized tax benefits, excluding interest and penalties, for the years ended December 31, 2015, 2014 and 2013:


	Years Ended
Gross unrecognized tax benefits	December 31, 2015			December 31, 2014			December 31, 2013
(in thousands)
Beginning balance	$	6,525		$	7,089		$	6,827
Increases based on tax positions related to the current period		536			292			194
Increases based on tax positions related to prior periods		2,131			1,969			2,690
Decreases based on tax positions related to prior periods		(500	)		(346	)		(2,474	)
Increases/ (Decreases) related to settlements with taxing authorities		—			(1,652	)		—
Increases/(Decreases) related to a lapse of applicable statute of limitations		—			(827	)		(148	)


Ending balance	$	8,692		$	6,525		$	7,089

The total amount of unrecognized tax benefits was $7.8 million, net of federal benefit of state issues, competent authority and foreign tax credit offsets, as of December 31, 2015, which, if recognized, would favorably affect the effective tax rate in future periods. The Company recognizes the accrual of interest and penalties related to unrecognized tax benefits in the Provision for Income Taxes in the Consolidated Statement of Income. For the year ended December 31, 2015, the Company recognized $0.3 million of interest in the Consolidated Statement of Income. No significant penalties were recognized in the Consolidated Statement of Income for the year ended December 31, 2015.

The Company is under examination by the IRS and other tax authorities in certain jurisdictions, including foreign jurisdictions, such as India, and states in which the Company has significant business operations, such as New York. The tax years currently under examination vary by jurisdiction but include years ranging from 2005 through 2014. As a result of having previously been a member of the Morgan Stanley consolidated group, the Company may have future settlements with Morgan Stanley related to the ultimate disposition of their New York State and New York City examination relating to the tax years 2007 and 2008 and their IRS examination relating to the tax years 2006 through 2008. The Company does not believe it has any material exposure to the New York State and New York City examinations. Additionally, the Company believes it has adequate reserves for any tax issues that may arise out of the IRS examination relating to the tax years 2006 through 2008 and therefore does not believe any related settlement with Morgan Stanley will have a material impact.

Acquisitions	12 Months Ended
Acquisitions	Dec. 31, 2015
Business Combinations [Abstract]
Acquisitions	12. ACQUISITIONS The acquisition method of accounting is based on ASC Subtopic 805-10, “Business Combinations,” and uses the fair value concepts defined in ASC Subtopic 820-10, “Fair Value Measurements and Disclosures,” which the Company has adopted as required. The total purchase price is allocated to the net tangible and intangible assets based upon their fair values as of the acquisition dates. The excess of the purchase price over the fair values of the net tangible assets and intangible assets was recorded as goodwill. The allocation of the purchase price was based upon a valuation and is subject to change within the one-year measurement period following the acquisition. MSCI expects to continue to obtain information to assist it in determining the fair value of the net assets acquired at the acquisition date during the measurement period. *Acquisition of Insignis* On October 16, 2015, the Company completed the purchase of Insignis for $6.5 million through its subsidiary InvestorForce. Insignis is a financial data provider, including data on positions, transactions and complex instruments such as exchange-traded futures and options, OTC swaps and foreign exchange spot and forward contracts. Financial results for Insignis will be included within the Analytics segment from the time of acquisition. As of December 31, 2015, the preliminary purchase price allocations for the Insignis acquisition were $4.2 million for goodwill, $2.2 million for identifiable intangible assets and $0.1 million for assets other than identifiable intangible assets. *Acquisition of GMI Ratings* On August 11, 2014, the Company completed the acquisition of GMI Ratings for $15.5 million in cash through its subsidiary MSCI ESG Research Inc. GMI Ratings is a provider of corporate governance research and ratings on companies worldwide. Clients of GMI Ratings include institutional investors, banks, insurers, auditors, regulators and corporations seeking to incorporate ESG factors into risk assessment and decision-making. The purchase price allocations for the GMI Ratings acquisition were $9.9 million for goodwill, $3.6 million for identifiable intangible assets, $6.7 million for assets other than identifiable intangible assets and $4.7 million for other liabilities.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 3
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479

+ Details

Segment Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segment Information

13. SEGMENT INFORMATION

ASC Subtopic 280-10, “Segment Reporting,” establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or CODM, in deciding how to allocate resources and assess performance. MSCI’s Chief Executive Officer and Chief Operating Officer, who are considered to be its CODM, review financial information presented on an operating segment basis for purposes of making operating decisions and assessing financial performance.

The CODM measures and evaluates reportable segments based on segment operating revenues as well as Adjusted EBITDA and other measures. The Company excludes the following items from segment Adjusted EBITDA: income (loss) from discontinued operations, net of income taxes, provision for income taxes, other expense (income), net, depreciation and amortization of property, equipment and leasehold improvements, amortization of intangible assets and certain transactions or adjustments that the CODM does not consider for the purposes of making decisions to allocate resources among segments or to assess segment performance. Although these amounts are excluded from segment Adjusted EBITDA, they are included in reported consolidated net income and are included in the reconciliation that follows.

The Company’s computation of segment Adjusted EBITDA may not be comparable to other similarly titled measures computed by other companies because all companies do not calculate segment Adjusted EBITDA in the same fashion.

Revenues and expenses directly associated with each segment are included in determining its operating results. Other expenses that are not directly attributable to a particular segment are allocated based upon allocation methodologies, including time estimates, headcount, sales targets, data center consumption and other relevant usage measures. Due to the integrated structure of our business, certain costs incurred by one segment may benefit other segments. A segment may use the content and data produced by another segment without incurring an arm’s length intersegment charge.

The CODM does not review any information regarding total assets on an operating segment basis. Operating segments do not record intersegment revenue, and, accordingly, there is none to be reported. The accounting policies for segment reporting are the same as for MSCI as a whole.

The Company has four operating segments: Index, Analytics, ESG and Real Estate.

The Index operating segment is a provider of investment decision support tools, including equity indexes and equity index benchmarks. The products are used in many areas of the investment process, including portfolio construction and rebalancing, asset allocation, performance benchmarking and attribution, regulatory and client reporting and index-linked investment product creation.

The Analytics operating segment consists of products and services used for portfolio construction, risk management and reporting. The products enable institutional investors to monitor, analyze and report on the risk and return of investments across a variety of asset classes. They are based on proprietary, integrated fundamental multi-factor risk models, value-at-risk methodologies, performance attribution frameworks and asset valuation models. In addition, the Analytics segment includes products that help investors value, model and hedge physical assets and derivatives across a number of market segments, including energy and commodity assets.

The ESG operating segment offers products institutional investors use for assessing risks and opportunities arising from environmental, social and governance issues. ESG tools are used to evaluate both individual securities and investment portfolios.

The Real Estate operating segment is a provider of real estate performance analysis for funds, investors, managers, lenders and occupiers. It provides index products and offers services that include research, reporting and benchmarking.

The operating segments of ESG and Real Estate do not individually meet the segment reporting thresholds and have been combined and presented as part of All Other for disclosure purposes.

The following table presents operating revenue by reportable segment for the periods indicated:


	Years Ended
	December 31, 2015		December 31, 2014		December 31, 2013
	(in thousands)
Operating revenues
Index	$	558,964	$	503,892	$	448,414
Analytics		433,424		414,085		397,203
All Other		82,625		78,703		67,747

Total	$	1,075,013	$	996,680	$	913,364

The following table presents segment profitability and a reconciliation to net income for the periods indicated:


	Years Ended
	December 31, 2015			December 31, 2014			December 31, 2013
	(in thousands)
Index Adjusted EBITDA	$	392,987		$	349,685		$	323,558
Analytics Adjusted EBITDA		95,468			72,173			97,806
All Other Adjusted EBITDA		(6,758	)		(13,104	)		(16,216	)

Total operating segment profitability		481,697			408,754			405,148
Lease exit charge		—			—			(365	)
Amortization of intangible assets		46,910			45,877			44,798
Depreciation and amortization of property, equipment and leasehold improvements		30,889			25,711			20,384

Operating income		403,898			337,166			340,331
Other expense (income), net		54,344			28,828			27,503
Provision for income taxes		119,516			109,396			112,918


Income from continuing operations		230,038			198,942			199,910
Income (loss) from discontinued operations, net of income taxes		(6,390	)		85,171			22,647

Net income	$	223,648		$	284,113		$	222,557

Revenue by geography is based on the shipping address of the ultimate customer utilizing the product. The following table presents revenue by geographic area for the periods indicated:


	Years Ended
(in thousands)	December 31, 2015		December 31, 2014		December 31, 2013
Revenues
Americas:
United States	$	519,429	$	471,145	$	416,999
Other		41,552		37,189		34,547


Total Americas		560,981		508,334		451,546


Europe, the Middle East and Africa (“EMEA”):
United Kingdom		166,019		154,308		141,938
Other		215,192		209,893		202,664


Total EMEA		381,211		364,201		344,602


Asia & Australia:
Japan		45,371		46,642		46,752
Other		87,450		77,503		70,464


Total Asia & Australia		132,821		124,145		117,216


Total	$	1,075,013	$	996,680	$	913,364

Long-lived assets consist of property, equipment, leasehold improvements, goodwill and intangible assets, net of accumulated depreciation and amortization. The following table presents long-lived assets by geographic area on the dates indicated:


	As of
(in thousands)	December 31, 2015		December 31, 2014
Long-lived assets
Americas:
United States	$	1,916,689	$	1,944,433
Other		2,279		3,293


Total Americas		1,918,968		1,947,726


EMEA:
United Kingdom		110,261		120,781
Other		16,849		13,345


Total EMEA		127,110		134,126


Asia & Australia:
Japan		570		837
Other		9,389		9,917


Total Asia & Australia		9,959		10,754


Total	$	2,056,037	$	2,092,606

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-SubTopic 10
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-Paragraph 26
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

+ Details

Quarterly Results of Operations

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations

14. QUARTERLY RESULTS OF OPERATIONS (unaudited):


	2015												2014
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	(in thousands, except per share data)
Operating revenues	$	262,769		$	270,580		$	268,771		$	272,893		$	239,688		$	254,226		$	251,661		$	251,105

Cost of revenues		69,904			67,394			65,593			64,804			66,802			70,212			69,770			69,839
Selling and marketing		41,648			42,028			38,809			39,809			41,126			40,506			41,402			40,805
Research and development		23,189			20,807			15,548			17,776			17,465			17,374			19,021			17,235
General and administrative		20,377			22,080			19,960			23,590			17,692			20,240			19,516			18,921
Amortization of intangible assets		11,702			11,695			11,710			11,803			11,270			11,442			11,574			11,591
Depreciation and amortization of property, equipment and leasehold improvements		7,207			8,065			8,049			7,568			5,828			5,921			6,342			7,620

Total operating expenses		174,027			172,069			159,669			165,350			160,183			165,695			167,625			166,011

Operating income		88,742			98,511			109,102			107,543			79,505			88,531			84,036			85,094
Interest income		(204	)		(185	)		(285	)		(492	)		(156	)		(192	)		(277	)		(226	)
Interest expense ⁽¹⁾		11,108			11,116			17,267			22,896			5,059			5,366			5,604			15,791
Other expense (income)		178			164			(6,922	)		(297	)		1,071			(726	)		(1,287	)		(1,199	)

Other expense (income), net		11,082			11,095			10,060			22,107			5,974			4,448			4,040			14,366

Income from continuing operations before provision for income taxes		77,660			87,416			99,042			85,436			73,531			84,083			79,996			70,728
Provision for income taxes		28,036			31,399			34,644			25,437			26,385			27,280			28,272			27,459

Income from continuing operations		49,624			56,017			64,398			59,999			47,146			56,803			51,724			43,269
Income (loss) from discontinued operations, net of income taxes		(5,797	)		—			—			(593	)		33,253			50,857			(10	)		1,071

Net income	$	43,827		$	56,017		$	64,398		$	59,406		$	80,399		$	107,660		$	51,714		$	44,340

Earnings per basic common share
From continuing operations	$	0.44		$	0.50		$	0.59		$	0.59		$	0.40		$	0.48		$	0.44		$	0.38
From discontinued operations		(0.05	)		—			—			(0.01	)		0.28			0.44			—			0.01

Earnings per basic common share	$	0.39		$	0.50		$	0.59		$	0.58		$	0.68		$	0.92		$	0.44		$	0.39

Earnings per diluted common share
From continuing operations	$	0.44		$	0.50		$	0.59		$	0.58		$	0.40		$	0.48		$	0.44		$	0.38
From discontinued operations		(0.05	)		—			—			(0.01	)		0.28			0.43			—			0.01

Earnings per diluted common share	$	0.39		$	0.50		$	0.59		$	0.57		$	0.68		$	0.91		$	0.44		$	0.39

Weighted average shares outstanding used in computing per share data
Basic		112,520			112,143			108,773			102,837			117,582			116,702			116,251			112,299


Diluted		113,522			112,931			109,440			103,589			118,597			117,664			117,163			113,289

⁽¹⁾	Increased interest expense during the fourth quarter of 2014 compared to the first three quarters of 2014 was primarily the result of the debt discount and deferred financing fees written off in connection with the 2024 Senior Notes offering and the 2014 Revolving Facility.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	15. SUBSEQUENT EVENTS On February 2, 2016, the Board of Directors of the Company declared a quarterly dividend of $0.22 per share of common stock to be paid on March 11, 2016 to shareholders of record as of the close of trading on February 19, 2016. Subsequent to the year ended December 31, 2015 and through February 19, 2016, an additional 2.6 million shares of common stock were repurchased for a total value of $170.6 million.

Introduction and Basis of Presentation (Policies)

12 Months Ended

Dec. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Basis of Presentation

The recasting of previously issued financial information has been made to conform to the current presentation and does not represent a restatement of previously issued financial statements.

Basis of Financial Statements and Use of Estimates

Basis of Financial Statements and Use of Estimates

Inter-company balances and transactions are eliminated in consolidation.

Revenue Recognition

Revenue Recognition

•

The Company has persuasive evidence of a legally binding arrangement,

•

Delivery has occurred,

•

Client fee is deemed fixed or determinable, and

•

Collection is probable.

•

The delivered items have value to the client on a standalone basis, which means they can be sold separately by any vendor or the client could resell the delivered items on a standalone basis; and

•

Share-Based Compensation

Share-Based Compensation

Research and Development

Research and Development

Costs incurred in the preliminary and post-implementation stages of our products are expensed as incurred.

Income Taxes

Income Taxes

Deferred Revenue

Deferred Revenue

Goodwill

Goodwill

Intangible Assets

Intangible Assets

Foreign Currency Translation

Foreign Currency Translation

Derivative Instruments

Derivative Instruments

Property, Equipment and Leasehold Improvements

Property, Equipment and Leasehold Improvements

Treasury Stock

Treasury Stock

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts


	Amount
	(in thousands)
Balance as of December 31, 2012	$	964
Addition to provision		876
Amounts written off, net of recoveries		(560	)

Balance as of December 31, 2013	$	1,280
Addition to provision		452
Amounts written off, net of recoveries		(875	)

Balance as of December 31, 2014	$	857
Addition to provision		940
Amounts written off, net of recoveries		(680	)

Balance as of December 31, 2015	$	1,117

Accrued Compensation

Accrued Compensation

Concentrations

Concentrations

Recent Accounting Standards Updates

In April 2014, the FASB issued Accounting Standards Update No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” or ASU 2014-08. The amendments in this update change the requirements for reporting discontinued operations under ASC Subtopic 205-20, “Presentation of Financial Statements—Discontinued Operations,” such as limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. The amendments in this update also require expanded disclosures in order to provide users of financial statements with more information about the assets, liabilities, revenues and expenses of discontinued operations. Further, the amendments require an entity to disclose the pretax profit or loss of an individually significant component of an entity that does not qualify for discontinued operations reporting. This new guidance is to be applied prospectively for annual periods beginning on or after December 15, 2014, and interim periods within those years, with early adoption permitted. The adoption of ASU 2014-08 did not have a material effect on its consolidated financial statements.

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers,” or ASU 2014-09. The objective of ASU 2014-09 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle of ASU 2014-09 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the new guidance, an entity will (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the contract’s performance obligations; and (5) recognize revenue when, or as, the entity satisfies a performance obligation. Companies have the option of using either a full retrospective or modified approach to adopt ASU 2014-09. In August 2015, the FASB issued Accounting Standards Update No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” or ASU 2015-14. The amendments in ASU 2015-14 defer the effective date of the new revenue standard by one year by changing the effective date to be for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017 from December 15, 2016, with early adoption at the prior date permitted. The Company is continuing to evaluate the potential impact that the update will have on its consolidated financial statements.

In January 2015, the FASB issued Accounting Standards Update No. 2015-01, “Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items,” or ASU 2015-01. ASU 2015-01 eliminates the concept of an extraordinary item from GAAP. As a result, a company will no longer be required to segregate extraordinary items from the results of ordinary operations, to separately present an extraordinary item on its income statement, net of tax, after income from continuing operations or to disclose income taxes and earnings-per-share data applicable to an extraordinary item. A reporting entity may apply the amendments prospectively or retrospectively to all prior periods presented in the financial statements. However, ASU 2015-01 will still retain the presentation and disclosure guidance for items that are unusual in nature and occur infrequently. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2015, with early adoption permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The adoption of ASU 2015-01 is not expected to have a material effect on the Company’s consolidated financial statements.

In April 2015, the FASB issued Accounting Standards Update No. 2015-03, “Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs,” or ASU 2015-03. The objective of ASU 2015-03 is to simplify the presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Prior to the issuance of ASU 2015-03, debt issuance costs were recognized and presented as a deferred charge (that is, an asset). The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2015, with early adoption permitted for financial statements that have not been previously issued. The Company early adopted ASU 2015-03 retrospectively during the year ended December 31, 2015. As a result of the retrospective adoption, the Company reclassified unamortized deferred financing fees of $1.2 million from “Prepaid and other assets” and $10.4 million from “Other non-current assets” as of December 31, 2014 to be a reduction in “Long-term debt” on the Consolidated Statement of Financial Condition. Adoption of this standard only resulted in the reclassification of items on the Consolidated Statement of Financial Condition and did not impact results of operations, retained earnings or cash flows in the current or previous interim and annual reporting periods.

In April 2015, the FASB issued Accounting Standards Update No. 2015-05, “Intangibles—Goodwill and Other—Internal-Use Software,” or ASU 2015-05. The amendments in ASU 2015-05 provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2015, with early adoption permitted. The Company is evaluating the potential impact of the adoption of ASU 2015-05, but does not expect the adoption to have a material effect on its consolidated financial statements.

In August 2015, the FASB issued Accounting Standards Update No. 2015-15, “Interest—Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements,” or ASU 2015-15. ASU 2015-15 adds clarity from the SEC’s perspective on the presentation and subsequent measurement of debt issuance costs associated with line-of-credit arrangements. The Company’s adoption of ASU 2015-15 did not have a material impact on its consolidated financial statements.

In September 2015, the FASB issued Accounting Standards Update No. 2015-16, “Business Combinations,” or ASU 2015-16. ASU 2015-16 simplifies the accounting for adjustments made to provisional amounts recognized in a business combination by eliminating the requirement to account for adjustments retrospectively. The amendments in ASU 2015-16 require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2015, with early adoption permitted. The Company is evaluating the potential impact of the adoption of ASU 2015-16, but does not expect the adoption to have a material effect on its consolidated financial statements.

In November 2015, the FASB issued Accounting Standards Update No. 2015-17, “Balance Sheet Classification of Deferred Taxes,” or ASU 2015-17. ASU 2015-17 simplifies the presentation of deferred income taxes by classifying current and noncurrent deferred tax assets and liabilities as noncurrent on the Consolidated Statement of Financial Condition. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2016, with early adoption permitted. The Company early adopted ASU 2015-17 prospectively for the year ended December 31, 2015. Prior periods have not been changed to reflect these change in classifications, Adoption of this standard only resulted in the reclassification of items on the Consolidated Statement of Financial Condition and did not impact results of operations, retained earnings or cash flows in the current or previous interim and annual reporting periods.

In January 2016, the FASB issued Accounting Standards Update No. 2016-01, “Financial Instruments—Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10),”or ASU 2016-01. Changes primarily impact the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017. The adoption of ASU 2016-01 is not expected to have a material effect on the Company’s consolidated financial statements.

Introduction and Basis of Presentation (Tables)

12 Months Ended

Dec. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Changes in Allowance for Doubtful Accounts

Changes in the allowance for doubtful accounts from December 31, 2012 to December 31, 2015 were as follows:


	Amount
	(in thousands)
Balance as of December 31, 2012	$	964
Addition to provision		876
Amounts written off, net of recoveries		(560	)

Balance as of December 31, 2013	$	1,280
Addition to provision		452
Amounts written off, net of recoveries		(875	)

Balance as of December 31, 2014	$	857
Addition to provision		940
Amounts written off, net of recoveries		(680	)

Balance as of December 31, 2015	$	1,117

Disposition and Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Value of Assets and Liabilities Disposed


	Amount (in thousands)
Cash proceeds	$	367,355
Less: Initial working capital adjustments		(311	)

Total proceeds		367,044
Less assets sold and liabilities relieved resulting from disposal:
Cash and cash equivalents		(4,544	)
Accounts receivable		(15,765	)
Deferred taxes (current)		(3,174	)
Prepaid taxes		(617	)
Prepaid and other assets		(4,500	)
Property, equipment and leasehold improvements (net of accumulated depreciation and amortization of $4,213)		(8,544	)
Goodwill		(254,233	)
Intangible assets (net of accumulated amortization of $50,283)		(121,269	)
Other non-current assets		(1,645	)
Accounts payable		574
Accrued compensation and related benefits		6,783
Other accrued liabilities		4,034
Deferred revenue		51,767
Deferred taxes (non-current)		59,129
Other non-current liabilities		5,576
Other comprehensive income including currency translation adjustments and pension and other post-retirement adjustments		4,004

Net assets sold		(282,424	)
Less: Transaction costs		(5,946	)

Gain on sale of ISS	$	78,674

Schedule of Income (Loss) Amounts Associated with Discontinued Operations

Amounts associated with discontinued operations reflected in the Consolidated Statements of Income for the years ended December 31, 2015, 2014 and 2013 are as follows:


	Years Ended
	December 31, 2015			December 31, 2014		December 31, 2013
	(in thousands)
Revenue from discontinued operations	$	—		$	43,122	$	122,303

Income (loss) from discontinued operations before provision (benefit) for income taxes	$	—		$	86,230	$	32,793
Provision for income taxes		6,390			1,059		10,146

Income (loss) from discontinued operations, net of income taxes	$	(6,390	)	$	85,171	$	22,647

Reclassifications out of Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2015

Statement of Comprehensive Income [Abstract]

Schedule of Reclassifications out of Accumulated Other Comprehensive Income (Loss)

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)⁽¹⁾


Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)									Affected Line Item in the Unaudited Condensed Consolidated Statements of Income
	Years Ended
	December 31, 2015			December 31, 2014			December 31, 2013
	(in thousands)
Unrealized losses on cash flow hedges
Interest rate contracts	$	—		$	—		$	(1,364	)	Interest expense
		—			—			524		Income tax benefit

	$	—		$	—		$	(840	)	Net of tax

Unrealized gains on available-for-sale securities
Short-term investments	$	—		$	—		$	5
		—			—			(2	)	Provision for income taxes

	$	—		$	—		$	3		Net of tax

Defined benefit pension plans
Amount recognized as a component of net periodic benefit expense for curtailments and settlements	$	(563	)	$	(104	)	$	(32	)⁽²⁾
		153			(15	)		6	⁽³⁾	Provision for income taxes

	$	(410	)	$	(119		$	(26	)⁽⁴⁾	Net of tax

Foreign currency translation adjustment	$	—		$	4,184		$	—	⁽⁵⁾

Total reclassifications for the period, net of tax	$	(410	)	$	4,065		$	(863	)

⁽¹⁾	Amounts in parentheses indicate expenses or losses moved to the Consolidated Statements of Income.

⁽²⁾	Includes $(186,000) for the year ended December 31, 2014 that was reclassified to “Income (loss) from discontinued operations, net of taxes” as part of the gain on the disposition of ISS.

⁽³⁾	Includes $6,000 for the year ended December 31, 2014 that was reclassified to “Income (loss) from discontinued operations, net of taxes” as part of the gain on the disposition of ISS.

⁽⁴⁾	Includes $(180,000) for the year ended December 31, 2014 that was reclassified to “Income (loss) from discontinued operations, net of taxes” as part of the gain on the disposition of ISS.

⁽⁵⁾	This accumulated other comprehensive income component for the year ended December 31, 2014 was reclassified to “Income (loss) from discontinued operations, net of taxes” as part of the gain on the disposition of ISS.

Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Computation of Basic and Diluted EPS


	Years Ended
(in thousands, except per share data)	December 31, 2015			December 31 2014			December 31 2013
Income from continuing operations, net of income taxes	$	230,038		$	198,942		$	199,910
Income (loss) from discontinued operations, net of income taxes		(6,390	)		85,171			22,647

Net income	$	223,648		$	284,113		$	222,557
Less: Allocations of earnings to unvested restricted stock units ⁽¹⁾		—			(368	)		(633	)


Earnings available to MSCI common shareholders	$	223,648		$	283,745		$	221,924


Basic weighted average common shares outstanding		109,124			115,737			120,100

Effect of dilutive securities:
Stock options and restricted stock units		802			969			974


Diluted weighted average common shares outstanding		109,926			116,706			121,074

Earnings per basic common share from continuing operations	$	2.11		$	1.72		$	1.66
Earnings per basic common share from discontinued operations		(0.06	)		0.73			0.19


Earnings per basic common share	$	2.05		$	2.45		$	1.85

Earnings per diluted common share from continuing operations	$	2.09		$	1.70		$	1.64
Earnings per diluted common share from discontinued operations		(0.06	)		0.73			0.19


Earnings per diluted common share	$	2.03		$	2.43		$	1.83

⁽¹⁾

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Summary of Future Minimum Commitments Under Operating Leases

Future minimum commitments for the Company’s operating leases in place as of December 31, 2015 are as follows:


Years Ending December 31,	Amount
	(in thousands)
2016	$	28,170
2017		26,416
2018		25,064
2019		20,369
2020		17,863
Thereafter		148,074


Total	$	265,956

Summary of Fair Values of Derivative Instruments

The following table presents the fair values of the Company’s derivative instruments and the location in which they are presented on the Company’s Consolidated Statements of Financial Condition:


	Consolidated Statements of Financial Condition Location	As of
(in thousands)		December 31, 2015			December 31, 2014
Derivatives designated as hedging instruments:
Asset derivatives:
Foreign exchange contracts	Prepaid and other assets	$	640		$	—
Liability derivatives:
Foreign exchange contracts	Other accrued liabilities	$	(2	)	$	(243	)

Interest Rate Swaps and Derivative Instruments


Derivatives in Cash Flow Hedging Relationships	Amount of Gain or (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion) for the Years Ended December 31,						Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)		Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Effective Portion) for the Years Ended December 31,							Location of Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)		Amount of Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) for the Years Ended December 31,
(in thousands)	2015		2014		2013				2015		2014		2013					2015		2014		2013
Interest rate swaps	$	—	$	—	$	—		Interest expense	$	—	$	—	$	(1,364	)		Interest expense	$	—	$	—	$	—


Derivatives Not Designated as Hedging Instruments (in thousands)	Location of Gain or (Loss) Recognized in Income on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives for the Years Ended
		December 31, 2015		December 31, 2014			December 31, 2013
Foreign exchange contracts	Other expense (income)	$	366	$	(834	)	$	(139	)

Property, Equipment and Leasehold Improvements (Tables)

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Schedule of Property, Equipment and Leasehold Improvements

Property, equipment and leasehold improvements at December 31, 2015 and 2014 consisted of the following:


		As of
Type	Estimated Useful Lives	December 31, 2015			December 31, 2014
		(in thousands)
Computer & related equipment	2 to 5 years	$	143,499		$	118,537
Furniture & fixtures	7 years		9,870			9,569
Leasehold improvements	1 to 21 years		47,579			49,756
Work-in-process	—		12,658			9,020

Subtotal			213,606			186,882
Accumulated depreciation and amortization			(114,680	)		(92,808	)

Property, equipment and leasehold improvements, net		$	98,926		$	94,074

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Change to Company's Goodwill

The change to the Company’s goodwill was as follows:


(in thousands)	Goodwill
Goodwill at December 31, 2013	$	1,813,164
Changes to goodwill ⁽¹⁾		(244,299	)
Foreign exchange translation adjustment		(3,961	)

Goodwill at December 31, 2014	$	1,564,904
Changes to goodwill ⁽²⁾		4,202
Foreign exchange translation adjustment		(3,485	)


Goodwill at December 31, 2015 ⁽³⁾	$	1,565,621

⁽¹⁾

⁽²⁾	Changes to goodwill reflect the addition of $4.2 million of goodwill associated with the acquisition of Insignis. See Note 12, “Acquisitions,” for additional information.

⁽³⁾	At December 31, 2015, the goodwill assigned to the Index, Analytics and All Other reportable segments was $1,210.4 million, $302.5 million and $52.7 million, respectively.

Schedule of Gross Carrying and Accumulated Amortization Amounts Related to Company's Identifiable Intangible Assets

The gross carrying and accumulated amortization amounts related to the Company’s identifiable intangible assets were as follows:


	Estimated Useful Lives	As of
(in thousands)	Estimated Useful Lives	December 31, 2015			December 31, 2014⁽¹⁾
Gross intangible assets:
Customer relationships	5 to 21 years	$	361,746		$	360,835
Trademarks/trade names	5 to 21.5 years		223,382			223,382
Technology/software	3 to 8.5 years		199,889			193,681
Proprietary data	13 years		28,627			28,627
Covenant not to compete	2 years		1,225			900

Subtotal			814,869			807,425
Foreign exchange translation adjustment			(4,867	)		(1,588	)

Total gross intangible assets		$	810,002		$	805,837

Accumulated amortization:
Customer relationships		$	(143,325	)	$	(119,058	)
Trademarks/trade names			(93,476	)		(81,545	)
Technology/software			(175,209	)		(167,083	)
Proprietary data			(6,698	)		(4,589	)
Covenant not to compete			(665	)		(187	)

Subtotal			(419,373	)		(372,462	)
Foreign exchange translation adjustment			861			253

Total accumulated amortization		$	(418,512	)	$	(372,209	)


Net intangible assets:
Customer relationships		$	218,421		$	241,777
Trademarks/trade names			129,906			141,837
Technology/software			24,680			26,598
Proprietary data			21,929			24,038
Covenant not to compete			560			713

Subtotal			395,496			434,963
Foreign exchange translation adjustment			(4,006	)		(1,335	)

Total net intangible assets		$	391,490		$	433,628

⁽¹⁾

Estimated Amortization Expense for Succeeding Years

Estimated amortization expense for succeeding years is presented below:


For the Years Ending December 31,	Amortization Expense
	(in thousands)
2016	$	47,965
2017		43,097
2018		39,863
2019		37,853
2020		36,106
Thereafter		186,606


Total	$	391,490

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Schedule of Cash Dividends Declared and Distributed Per Common Share

The following table presents cash dividends declared and distributed per common share for the periods indicated:


	Dividends Per Share		Amount (in thousands)
2014:
Fourth quarter	$	0.18	$	20,393


2015:
First quarter	$	0.18	$	20,411
Second quarter		0.18		20,442
Third quarter		0.22		24,152
Fourth quarter		0.22		22,792

Total cash dividends declared and distributed	$	0.80	$	87,797

Summary of Activity Related to Shares of Common Stock Issued and Repurchased

The following table presents activity related to shares of common stock issued and repurchased for the periods indicated:


	Common Stock Issued		Treasury Stock			Common Stock Outstanding

Balance At December 31, 2012		124,033,980		(3,919,394	)		120,114,586
Common stock issued and exercise of stock options		1,517,381		—			1,517,381
Shares received for taxes and exercise price of stock awards		—		(352,086	)		(352,086	)
Shares received under stock repurchase programs		—		(3,197,371	)		(3,197,371	)
Stock issued to Directors and held in Treasury		3,907		(3,306	)		601

Balance At December 31, 2013		125,555,268		(7,472,157	)		118,083,111
Dividend payable/paid		99		(99	)		—
Common stock issued and exercise of stock options		1,076,751		—			1,076,751
Shares received for taxes and exercise price of stock awards		—		(233,163	)		(233,163	)
Shares received under stock repurchase programs		—		(6,856,866	)		(6,856,866	)
Stock issued to Directors and held in Treasury		5,272		(2,636	)		2,636

Balance At December 31, 2014		126,637,390		(14,564,921	)		112,072,469
Dividend payable/paid		802		(385	)		417
Common stock issued and exercise of stock options		1,558,965		—			1,558,965
Shares received for taxes and exercise price of stock awards		—		(763,558	)		(763,558	)
Shares received under stock repurchase programs		—		(11,856,169	)		(11,856,169	)
Stock issued to Directors and held in Treasury		3,032		(2,008	)		1,024

Balance At December 31, 2015		128,200,189		(27,187,041	)		101,013,148

Components of Share-Based Compensation Expense


(in thousands)	Years Ended
(in thousands)	December 31, 2015			December 31, 2014		December 31, 2013

Deferred stock	$	27,549		$	25,830	$	23,910
Stock options		(73	)		1,201		1,643


Total	$	27,476		$	27,031	$	25,553

Summary of Share-based Compensation Expense

The following table presents the amount of share-based compensation expense by category for the periods indicated:


(in thousands)	Years Ended
(in thousands)	December 31, 2015		December 31, 2014		December 31, 2013

Cost of revenues	$	6,909	$	7,187	$	7,490
Selling and marketing		6,564		7,296		5,721
Research and development		2,823		3,128		2,283
General and administrative		11,180		8,005		7,277


Total share-based compensation expense	$	27,476	$	25,616	$	22,771

Summary of Vested and Unvested Deferred Stock Awards Activity

The following table presents activity concerning the Company’s vested and unvested deferred stock awards applicable to its employees (share data in thousands) for the period indicated:


For the Year Ended December 31, 2015	Number of Shares			Weighted Average Grant Date Fair Value
Vested and unvested deferred stock awards at December 31, 2014 ⁽¹⁾		1,213		$	37.82
Granted		634		$	55.20
Conversion to common stock		(640	)	$	36.55
Canceled		(132	)	$	47.47


Vested and unvested deferred stock awards at December 31, 2015		1,075		$	47.70

⁽¹⁾	As of December 31, 2015, 1,054 restricted stock units and restricted stock awards, with a weighted average price of $47.60, were vested or expected to vest.

Summary of Unvested Deferred Stock Awards Activity

The following table presents activity concerning the Company’s unvested deferred stock awards related to its employees (share data in thousands):


For the Year Ended December 31, 2015	Number of Shares			Weighted Average Grant Date Fair Value
Unvested deferred stock awards at December 31, 2014		883		$	37.99
Granted		499		$	55.45
Vested		(453	)	$	37.18
Canceled		(129	)	$	47.81


Unvested deferred stock awards at December 31, 2015		800		$	47.83


Unvested deferred stock awards expected to vest		779		$	47.69

Weighted Average Fair Value of Stock Options Assumed

The weighted average fair value of MSCI stock options issued by the Company in the year ended December 31, 2013 was $19.18 utilizing the following assumptions:


	Assumptions
Risk free interest rate		1.87	%
Expected option life in years		6.50
Expected stock price volatility		46.07	%
Expected dividend yield		—

Summary of Stock Options Activity


For the Year Ended December 31, 2015	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Life (Years)		Aggregated Intrinsic Value
Options outstanding at December 31, 2014		1,487		$	22.69		3.76		N/A
Granted or assumed		—		$	—		N/A		N/A
Forfeited		(63	)	$	40.14		N/A		N/A
Conversion to common stock		(939	)	$	20.97		N/A		N/A


Options outstanding at December 31, 2015		485		$	23.77		2.40	$	23,432


Options exercisable at December 31, 2015		435		$	22.29		2.68	$	21,669


Options vested or expected to vest		485		$	23.77		2.40	$	23,432

Summary of Stock Options Outstanding by Exercise Price Range

The following table presents information relating to the Company’s outstanding stock options as of December 31, 2015 (number of options outstanding and aggregate intrinsic value data in thousands):


As of December 31, 2015	Options Outstanding
Range of Exercise Prices	Number Outstanding		Weighted Average Exercise Price		Average Remaining Life (Years)		Aggregate Intrinsic Value
$9.92 to $16.48		55	$	15.54		2.80	$	3,109
$18.00		134	$	18.00		1.87	$	7,260
$20.45 to $24.11		153	$	22.45		1.95	$	7,581
$25.64 to $40.23		143	$	33.75		3.23	$	5,482


Total		485					$	23,432

Summary of Stock Options Exercisable by Exercise Price Range

The following table presents information relating to the Company’s exercisable stock options as of December 31, 2015 (number of options outstanding and aggregate intrinsic value data in thousands):


As of December 31, 2015	Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Exercise Price		Average Remaining Life (Years)		Aggregate Intrinsic Value
$9.92 to $16.48		55	$	15.54		2.80	$	3,109
$18.00		134	$	18.00		1.87	$	7,260
$20.45 to $24.11		153	$	22.45		1.95	$	7,581
$25.64 to $40.23		93	$	32.18		2.31	$	3,719


Total		435					$	21,669

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Summary of Provision for Income Taxes (Benefits) by Taxing Jurisdiction

The provision for income taxes (benefits) by taxing jurisdiction consisted of:


	Years Ended
	December 31, 2015			December 31, 2014			December 31, 2013
	(in thousands)
Current
U.S. federal	$	85,540		$	84,959		$	97,739
U.S. state and local		22,108			13,929			16,820
Non U.S.		22,156			18,505			18,270


		129,804			117,393			132,829

Deferred
U.S. federal		(10,546	)		(2,606	)		(14,362	)
U.S. state and local		1,460			(3,356	)		(3,802	)
Non U.S.		(1,202	)		(2,035	)		(1,747	)


		(10,288	)		(7,997	)		(19,911	)


Provision for income taxes from continuing operations	$	119,516		$	109,396		$	112,918


Provision for income taxes from discontinued operations	$	6,390		$	1,059		$	10,146

Reconciliation of Provision to U.S. Federal Statutory Income Tax Rate for Income from Continuing Operations

The following table reconciles the provision to the U.S. federal statutory income tax rate for income from continuing operations:


	Years Ended
	December 31, 2015			December 31, 2014			December 31, 2013
U.S. federal statutory income tax rate		35.00	%		35.00	%		35.00	%
U.S. state and local income taxes, net of U.S. federal income tax benefits		4.44	%		2.72	%		3.05	%
Change in tax rates applicable to non-U.S. earnings		(2.73	%)		(1.88	%)		(0.93	%)
Domestic tax credits and incentives		(2.62	%)		(0.86	%)		(0.95	%)
Other		0.10	%		0.50	%		(0.07	%)


Effective income tax rate		34.19	%		35.48	%		36.10	%

Significant Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2015 and 2014, were as follows:


	As of
	December 31, 2015			December 31, 2014
	(in thousands)
Deferred tax assets:
Employee compensation and benefit plans	$	23,700		$	24,765
Deferred rent		7,485			7,229
State taxes		—			2,322
Pension		2,030			2,494
Unearned revenue		1,555			1,117
Loss carryforwards – current		—			1,667
Loss carryforwards – non-current		33,389			34,249
Other		678			1,979

Subtotal		68,837			75,822
Less: valuation allowance		(21,052	)		(21,232	)


Total deferred tax assets	$	47,785		$	54,590

Deferred tax liabilities:
Intangible assets	$	(138,832	)	$	(154,965	)
Foreign currency translation		(352	)		(629	)
Property, equipment and leasehold improvements, net		(10,358	)		(10,435	)
Other		—			(246	)


Total deferred tax liabilities	$	(149,542	)	$	(166,275	)


Net deferred tax liabilities	$	(101,757	)	$	(111,685	)

Summary of Components of Income Before Provision for Income Taxes

The following table presents the components of income before provision for income taxes generated by domestic or foreign operations for the periods indicated:


	Years Ended
	December 31, 2015		December 31, 2014		December 31, 2013
	(in thousands)
Domestic	$	282,764	$	269,944	$	276,549
Foreign ⁽¹⁾		66,790		38,394		36,279

Total income before provision for income taxes	$	349,554	$	308,338	$	312,828

⁽¹⁾	Foreign income before provision for income taxes is defined as income generated from operations located outside the U.S., which includes income from foreign branches of U.S. companies.

Reconciliation of Unrecognized Tax Benefits


	Years Ended
Gross unrecognized tax benefits	December 31, 2015			December 31, 2014			December 31, 2013
(in thousands)
Beginning balance	$	6,525		$	7,089		$	6,827
Increases based on tax positions related to the current period		536			292			194
Increases based on tax positions related to prior periods		2,131			1,969			2,690
Decreases based on tax positions related to prior periods		(500	)		(346	)		(2,474	)
Increases/ (Decreases) related to settlements with taxing authorities		—			(1,652	)		—
Increases/(Decreases) related to a lapse of applicable statute of limitations		—			(827	)		(148	)


Ending balance	$	8,692		$	6,525		$	7,089

Segment Information (Tables)

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Operating Revenue by Reportable Segment

The following table presents operating revenue by reportable segment for the periods indicated:


	Years Ended
	December 31, 2015		December 31, 2014		December 31, 2013
	(in thousands)
Operating revenues
Index	$	558,964	$	503,892	$	448,414
Analytics		433,424		414,085		397,203
All Other		82,625		78,703		67,747

Total	$	1,075,013	$	996,680	$	913,364

Segment Profitability and Reconciliation to Net Income

The following table presents segment profitability and a reconciliation to net income for the periods indicated:


	Years Ended
	December 31, 2015			December 31, 2014			December 31, 2013
	(in thousands)
Index Adjusted EBITDA	$	392,987		$	349,685		$	323,558
Analytics Adjusted EBITDA		95,468			72,173			97,806
All Other Adjusted EBITDA		(6,758	)		(13,104	)		(16,216	)

Total operating segment profitability		481,697			408,754			405,148
Lease exit charge		—			—			(365	)
Amortization of intangible assets		46,910			45,877			44,798
Depreciation and amortization of property, equipment and leasehold improvements		30,889			25,711			20,384

Operating income		403,898			337,166			340,331
Other expense (income), net		54,344			28,828			27,503
Provision for income taxes		119,516			109,396			112,918


Income from continuing operations		230,038			198,942			199,910
Income (loss) from discontinued operations, net of income taxes		(6,390	)		85,171			22,647

Net income	$	223,648		$	284,113		$	222,557

Revenue by Geographic Area

Revenue by geography is based on the shipping address of the ultimate customer utilizing the product. The following table presents revenue by geographic area for the periods indicated:


	Years Ended
(in thousands)	December 31, 2015		December 31, 2014		December 31, 2013
Revenues
Americas:
United States	$	519,429	$	471,145	$	416,999
Other		41,552		37,189		34,547


Total Americas		560,981		508,334		451,546


Europe, the Middle East and Africa (“EMEA”):
United Kingdom		166,019		154,308		141,938
Other		215,192		209,893		202,664


Total EMEA		381,211		364,201		344,602


Asia & Australia:
Japan		45,371		46,642		46,752
Other		87,450		77,503		70,464


Total Asia & Australia		132,821		124,145		117,216


Total	$	1,075,013	$	996,680	$	913,364

Long-Lived Assets by Geographic Area

The following table presents long-lived assets by geographic area on the dates indicated:


	As of
(in thousands)	December 31, 2015		December 31, 2014
Long-lived assets
Americas:
United States	$	1,916,689	$	1,944,433
Other		2,279		3,293


Total Americas		1,918,968		1,947,726


EMEA:
United Kingdom		110,261		120,781
Other		16,849		13,345


Total EMEA		127,110		134,126


Asia & Australia:
Japan		570		837
Other		9,389		9,917


Total Asia & Australia		9,959		10,754


Total	$	2,056,037	$	2,092,606

Quarterly Results of Operations (Tables)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Results of Operations


	2015												2014
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	(in thousands, except per share data)
Operating revenues	$	262,769		$	270,580		$	268,771		$	272,893		$	239,688		$	254,226		$	251,661		$	251,105

Cost of revenues		69,904			67,394			65,593			64,804			66,802			70,212			69,770			69,839
Selling and marketing		41,648			42,028			38,809			39,809			41,126			40,506			41,402			40,805
Research and development		23,189			20,807			15,548			17,776			17,465			17,374			19,021			17,235
General and administrative		20,377			22,080			19,960			23,590			17,692			20,240			19,516			18,921
Amortization of intangible assets		11,702			11,695			11,710			11,803			11,270			11,442			11,574			11,591
Depreciation and amortization of property, equipment and leasehold improvements		7,207			8,065			8,049			7,568			5,828			5,921			6,342			7,620

Total operating expenses		174,027			172,069			159,669			165,350			160,183			165,695			167,625			166,011

Operating income		88,742			98,511			109,102			107,543			79,505			88,531			84,036			85,094
Interest income		(204	)		(185	)		(285	)		(492	)		(156	)		(192	)		(277	)		(226	)
Interest expense ⁽¹⁾		11,108			11,116			17,267			22,896			5,059			5,366			5,604			15,791
Other expense (income)		178			164			(6,922	)		(297	)		1,071			(726	)		(1,287	)		(1,199	)

Other expense (income), net		11,082			11,095			10,060			22,107			5,974			4,448			4,040			14,366

Income from continuing operations before provision for income taxes		77,660			87,416			99,042			85,436			73,531			84,083			79,996			70,728
Provision for income taxes		28,036			31,399			34,644			25,437			26,385			27,280			28,272			27,459

Income from continuing operations		49,624			56,017			64,398			59,999			47,146			56,803			51,724			43,269
Income (loss) from discontinued operations, net of income taxes		(5,797	)		—			—			(593	)		33,253			50,857			(10	)		1,071

Net income	$	43,827		$	56,017		$	64,398		$	59,406		$	80,399		$	107,660		$	51,714		$	44,340

Earnings per basic common share
From continuing operations	$	0.44		$	0.50		$	0.59		$	0.59		$	0.40		$	0.48		$	0.44		$	0.38
From discontinued operations		(0.05	)		—			—			(0.01	)		0.28			0.44			—			0.01

Earnings per basic common share	$	0.39		$	0.50		$	0.59		$	0.58		$	0.68		$	0.92		$	0.44		$	0.39

Earnings per diluted common share
From continuing operations	$	0.44		$	0.50		$	0.59		$	0.58		$	0.40		$	0.48		$	0.44		$	0.38
From discontinued operations		(0.05	)		—			—			(0.01	)		0.28			0.43			—			0.01

Earnings per diluted common share	$	0.39		$	0.50		$	0.59		$	0.57		$	0.68		$	0.91		$	0.44		$	0.39

Weighted average shares outstanding used in computing per share data
Basic		112,520			112,143			108,773			102,837			117,582			116,702			116,251			112,299


Diluted		113,522			112,931			109,440			103,589			118,597			117,664			117,163			113,289

⁽¹⁾	Increased interest expense during the fourth quarter of 2014 compared to the first three quarters of 2014 was primarily the result of the debt discount and deferred financing fees written off in connection with the 2024 Senior Notes offering and the 2014 Revolving Facility.

Introduction and Basis of Presentation - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015 USD ($) Segment	Dec. 31, 2014 USD ($) Segment	Dec. 31, 2013 USD ($)
Introduction And Basis Of Presentation [Line Items]
Number of reportable segments \| Segment	3	1
Minimum percentage of voting stock for consolidation	50.00%
Maximum percentage of voting stock in variable interest entity for consolidation	20.00%
Capitalized software development costs	$ 8,500,000	$ 8,216,000	$ 3,285,000
Capitalized software development costs, net	5,200,000	7,300,000
Impairment of goodwill	0	0	$ 0
Analytics [Member]
Introduction And Basis Of Presentation [Line Items]
Reversed previously capitalized costs	$ 3,400,000	$ 1,000,000
Minimum [Member]
Introduction And Basis Of Presentation [Line Items]
Remaining useful life	1 year
Maximum [Member]
Introduction And Basis Of Presentation [Line Items]
Remaining useful life	20 years
Operating Revenues [Member] \| Customer Concentration Risk [Member]
Introduction And Basis Of Presentation [Line Items]
Percentage of operating revenues accounted for by major customer			10.00%
Operating Revenues [Member] \| Customer Concentration Risk [Member] \| Blackrock Inc [Member]
Introduction And Basis Of Presentation [Line Items]
Percentage of operating revenues accounted for by major customer	10.30%	10.60%
Operating Revenues [Member] \| Customer Concentration Risk [Member] \| Index [Member] \| Blackrock Inc [Member]
Introduction And Basis Of Presentation [Line Items]
Percentage of operating revenues accounted for by major customer	19.20%	20.10%	18.60%
Operating Revenues [Member] \| Customer Concentration Risk [Member] \| Analytics [Member]
Introduction And Basis Of Presentation [Line Items]
Percentage of operating revenues accounted for by major customer	10.00%	10.00%	10.00%
Operating Revenues [Member] \| Customer Concentration Risk [Member] \| All Other [Member]
Introduction And Basis Of Presentation [Line Items]
Percentage of operating revenues accounted for by major customer	10.00%	10.00%	10.00%
Software and Software Development Costs [Member] \| Minimum [Member]
Introduction And Basis Of Presentation [Line Items]
Estimates of useful lives	3 years
Software and Software Development Costs [Member] \| Maximum [Member]
Introduction And Basis Of Presentation [Line Items]
Estimates of useful lives	5 years
Furniture & Fixtures [Member]
Introduction And Basis Of Presentation [Line Items]
Estimates of useful lives	7 years
Computer & Related Equipment [Member] \| Minimum [Member]
Introduction And Basis Of Presentation [Line Items]
Estimates of useful lives	2 years
Computer & Related Equipment [Member] \| Maximum [Member]
Introduction And Basis Of Presentation [Line Items]
Estimates of useful lives	5 years
Leasehold improvements [Member] \| Minimum [Member]
Introduction And Basis Of Presentation [Line Items]
Estimates of useful lives	1 year
Leasehold improvements [Member] \| Maximum [Member]
Introduction And Basis Of Presentation [Line Items]
Estimates of useful lives	21 years
Institutional Shareholder Services Inc. [Member]
Introduction And Basis Of Presentation [Line Items]
Sale completion date	Apr. 30, 2014

Introduction and Basis of Presentation - Changes in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Receivables [Abstract]
Balance at beginning of year	$ 857	$ 1,280	$ 964
Addition to provision	940	452	876
Amounts written off, net of recoveries	(680)	(875)	(560)
Balance at ending of year	$ 1,117	$ 857	$ 1,280

Recent Accounting Standards Updates - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized deferred financing fees	$ 23.0
Prepaid and Other Assets [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized deferred financing fees	0.6	$ 1.2
Other Non-Current Assets [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized deferred financing fees	$ 1.8	$ 10.4

Disposition and Discontinued Operations - Additional Information (Detail) - Institutional Shareholder Services Inc. [Member] - USD ($) $ in Thousands		12 Months Ended
	Apr. 30, 2014	Dec. 31, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Definitive sale agreement date		Mar. 17, 2014
Sale proceeds from divestiture	$ 367,355		$ 367,355

Disposition and Discontinued Operations - Schedule of Value of Assets and Liabilities Disposed (Detail) - USD ($) $ in Thousands		12 Months Ended
	Apr. 30, 2014	Dec. 31, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total proceeds		$ 6,736
Institutional Shareholder Services Inc. [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds	$ 367,355		$ 367,355
Less: Initial working capital adjustments			(311)
Total proceeds			367,044
Less assets sold and liabilities relieved resulting from disposal:
Cash and cash equivalents			(4,544)
Accounts receivable			(15,765)
Deferred taxes (current)			(3,174)
Prepaid taxes			(617)
Prepaid and other assets			(4,500)
Property, equipment and leasehold improvements (net of accumulated depreciation and amortization of $4,213)			(8,544)
Goodwill			(254,233)
Intangible assets (net of accumulated amortization of $50,283)			(121,269)
Other non-current assets			(1,645)
Accounts payable			574
Accrued compensation and related benefits			6,783
Other accrued liabilities			4,034
Deferred revenue			51,767
Deferred taxes (non-current)			59,129
Other non-current liabilities			5,576
Other comprehensive income including currency translation adjustments and pension and other post-retirement adjustments			4,004
Net assets sold			(282,424)
Less: Transaction costs			(5,946)
Gain on sale of ISS			$ 78,674

Disposition and Discontinued Operations - Schedule of Value of Assets and Liabilities Disposed (Parenthetical) (Detail) - Institutional Shareholder Services Inc. [Member] $ in Thousands	Dec. 31, 2014 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, equipment and leasehold improvements, accumulated depreciation and amortization	$ 4,213
Intangible assets, accumulated amortization	$ 50,283

Disposition and Discontinued Operations - Schedule of Income (Loss) Amounts Associated with Discontinued Operations (Detail) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Discontinued Operations and Disposal Groups [Abstract]
Revenue from discontinued operations								$ 43,122	$ 122,303
Income (loss) from discontinued operations before provision (benefit) for income taxes								86,230	32,793
Provision for income taxes							$ 6,390	1,059	10,146
Income (loss) from discontinued operations, net of income taxes	$ (593)	$ (5,797)	$ 1,071	$ (10)	$ 50,857	$ 33,253	$ (6,390)	$ 85,171	$ 22,647

- Definition

Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

- Definition

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

+ References + Details

- Definition

Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.12)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.14)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1012-107759

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3B
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721525-107759

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721523-107759

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e957-107759

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 13
-Article 7

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 15
-Article 5

+ Details

Reclassifications out of Accumulated Other Comprehensive Income (Loss) - Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest expense	$ (22,896)	$ (17,267)	$ (11,116)	$ (11,108)	$ (15,791)	$ (5,604)	$ (5,366)	$ (5,059)	$ (62,387)	$ (31,820)	$ (26,256)
Interest income	492	285	185	204	226	277	192	156	1,166	851	889
(Provision) for income tax benefit	(25,437)	(34,644)	(31,399)	(28,036)	(27,459)	(28,272)	(27,280)	(26,385)	(119,516)	(109,396)	(112,918)
Net income	$ 59,406	$ 64,398	$ 56,017	$ 43,827	$ 44,340	$ 51,714	$ 107,660	$ 80,399	223,648	284,113	222,557
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) [Line Items]
Net income									(410)	4,065	(863)
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) [Member] \| Unrealized Losses on Cash Flow Hedges [Member] \| Interest Rate Contracts [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest expense											(1,364)
(Provision) for income tax benefit											524
Net income											(840)
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) [Member] \| Unrealized Gains on Available-for-Sale Securities [Member] \| Short-Term Investments [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest income											5
(Provision) for income tax benefit											(2)
Net income											3
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) [Member] \| Defined Benefit Pension Plans Amount Recognized as a Component of Net Periodic Benefit Expense [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) [Line Items]
Net periodic benefit expense for curtailments and settlements									(563)	(104)	(32)
(Provision) for income tax benefit									153	(15)	6
Net income									$ (410)	(119)	$ (26)
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) [Member] \| Accumulated Foreign Currency Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency translation adjustment										$ 4,184

Reclassifications out of Accumulated Other Comprehensive Income (Loss) - Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) [Line Items]
Income (loss) from discontinued operations, before taxes								$ 86,230	$ 32,793
Income (loss) from discontinued operations, taxes							$ 6,390	1,059	10,146
Income (loss) from discontinued operations, net of taxes	$ (593)	$ (5,797)	$ 1,071	$ (10)	$ 50,857	$ 33,253	$ (6,390)	85,171	$ 22,647
Curtailments and Settlements [Member] \| Amount Reclassified from Accumulated Other Comprehensive Income (Loss) [Member] \| Defined Benefit Pension Plans Amount Recognized as a Component of Net Periodic Benefit Expense [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) [Line Items]
Income (loss) from discontinued operations, before taxes								(186)
Income (loss) from discontinued operations, taxes								(6)
Income (loss) from discontinued operations, net of taxes								$ (180)

- Definition

+ References + Details

- Definition

+ References + Details

- Definition

+ References

+ Details

Earnings Per Common Share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from the calculation of diluted EPS	3,778	78,260	26,407

Earnings Per Common Share - Computation of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Income from continuing operations, net of income taxes									$ 230,038	$ 198,942	$ 199,910
Income (loss) from discontinued operations, net of income taxes	$ (593)			$ (5,797)	$ 1,071	$ (10)	$ 50,857	$ 33,253	(6,390)	85,171	22,647
Net income	$ 59,406	$ 64,398	$ 56,017	$ 43,827	$ 44,340	$ 51,714	$ 107,660	$ 80,399	223,648	284,113	222,557
Less: Allocations of earnings to unvested restricted stock units										(368)	(633)
Earnings available to MSCI common shareholders									$ 223,648	$ 283,745	$ 221,924
Basic weighted average common shares outstanding	102,837	108,773	112,143	112,520	112,299	116,251	116,702	117,582	109,124	115,737	120,100
Effect of dilutive securities:
Stock options and restricted stock units									802	969	974
Diluted weighted average common shares outstanding	103,589	109,440	112,931	113,522	113,289	117,163	117,664	118,597	109,926	116,706	121,074
Earnings per basic common share from continuing operations	$ 0.59	$ 0.59	$ 0.50	$ 0.44	$ 0.38	$ 0.44	$ 0.48	$ 0.40	$ 2.11	$ 1.72	$ 1.66
Earnings per basic common share from discontinued operations									(0.06)	0.73	0.19
Earnings per basic common share	0.58	0.59	0.50	0.39	0.39	0.44	0.92	0.68	2.05	2.45	1.85
Earnings per diluted common share from continuing operations	0.58	0.59	0.50	0.44	0.38	0.44	0.48	0.40	2.09	1.70	1.64
Earnings per diluted common share from discontinued operations									(0.06)	0.73	0.19
Earnings per diluted common share	$ 0.57	$ 0.59	$ 0.50	$ 0.39	$ 0.39	$ 0.44	$ 0.91	$ 0.68	$ 2.03	$ 2.43	$ 1.83

Commitments and Contingencies - Additional Information (Detail) - USD ($)		12 Months Ended
	Aug. 13, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Nov. 20, 2014	May 04, 2012
Schedule Of Commitments And Contingencies [Line Items]
Annual rent expense		$ 26,500,000	$ 27,000,000	$ 24,200,000
Long-term debt		1,579,404,000	788,358,000
Net of deferred financing fees		20,600,000	11,600,000
Unamortized deferred financing fees		23,000,000
Amortized deferred financing fees		2,135,000	7,748,000	3,348,000
Unamortized debt discount outstanding		0	0
Amortization of discount on long-term debt			2,218,000	$ 1,066,000
Fair market value of debt obligations		1,638,000,000	831,000,000
Other Expense (Income), Net [Member]
Schedule Of Commitments And Contingencies [Line Items]
Gain on sale of investment		6,300,000
Prepaid and Other Assets [Member]
Schedule Of Commitments And Contingencies [Line Items]
Unamortized deferred financing fees		600,000	1,200,000
Other Non-Current Assets [Member]
Schedule Of Commitments And Contingencies [Line Items]
Unamortized deferred financing fees		1,800,000	$ 10,400,000
Long-term Debt [Member]
Schedule Of Commitments And Contingencies [Line Items]
Unamortized deferred financing fees		$ 20,600,000
5.250% Senior Unsecured Notes Due 2024 [Member]
Schedule Of Commitments And Contingencies [Line Items]
Maturity date		Nov. 20, 2024
Redemption description		At any time prior to November 15, 2019, the Company may redeem all or part of the 2024 Senior Notes upon not less than 30 nor more than 60 days' prior notice at a redemption price equal to the sum of (i) 100% of the principal amount thereof, plus (ii) a make-whole premium as of the date of redemption, plus (iii) accrued and unpaid interest and additional interest, if any, thereon, to the date of redemption.
Percentage of aggregate principal amount redeemed		35.00%
Redemption price		105.25%
Debt instrument description		Interest payments attributable to the 2024 Senior Notes are due on May 15 and November 15 of each year.
Debt instrument, first interest payment date		May 15, 2015
Debt instrument, Interest payment amount		$ 41,400,000
5.250% Senior Unsecured Notes Due 2024 [Member] \| First Private Placement [Member]
Schedule Of Commitments And Contingencies [Line Items]
Aggregate amount of debt					$ 800,000,000
Debt instrument interest rate					5.25%
Term Loan [Member]
Schedule Of Commitments And Contingencies [Line Items]
Outstanding indebtedness, amount					$ 794,800,000
Term Loan [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Schedule Of Commitments And Contingencies [Line Items]
Bearing interest rate, percentage					2.25%
5.75% Senior Notes Due In 2025 [Member]
Schedule Of Commitments And Contingencies [Line Items]
Maturity date		Aug. 15, 2025
Redemption description		At any time prior to August 15, 2020, the Company may redeem all or part of the 2025 Senior Notes upon not less than 30 nor more than 60 days' prior notice at a redemption price equal to the sum of (i) 100% of the principal amount thereof, plus (ii) a make-whole premium as of the date of redemption, plus (iii) accrued and unpaid interest and additional interest, if any, thereon, to the date of redemption.
Percentage of aggregate principal amount redeemed		35.00%
Redemption price		105.75%
Debt instrument description		Interest payments attributable to the 2025 Senior Notes are due on February 15 and August 15 of each year.
Debt instrument, first interest payment date		Feb. 16, 2016
Senior Secured Revolving Facility [Member]
Schedule Of Commitments And Contingencies [Line Items]
Maturity period of the facility		Dec. 31, 2018
5.75% Senior Unsecured Notes Due 2025 [Member] \| Second Private Placement [Member]
Schedule Of Commitments And Contingencies [Line Items]
Aggregate amount of debt	$ 800,000,000
Debt instrument interest rate	5.75%
Net proceeds from borrowing	$ 789,500,000
Derivatives not Designated as Hedging Instruments [Member] \| Foreign Currency Forwards [Member]
Schedule Of Commitments And Contingencies [Line Items]
Foreign currency forwards, notional amount		$ 25,000,000
New Amended and Restated Credit Facility [Member] \| Term Loan A [Member]
Schedule Of Commitments And Contingencies [Line Items]
Aggregate amount of debt						$ 880,000,000
New Amended and Restated Credit Facility [Member] \| Senior Secured Revolving Facility [Member]
Schedule Of Commitments And Contingencies [Line Items]
Aggregate amount of debt						$ 100,000,000
2014 Revolving Credit Agreement [Member]
Schedule Of Commitments And Contingencies [Line Items]
Revolving credit facility, maximum borrowing					$ 200,000,000
Revolving Credit Facility [Member]
Schedule Of Commitments And Contingencies [Line Items]
Revolving credit agreement, term		5 years
Revolving credit agreement, conditional description		The 2014 Revolving Credit Agreement has an initial term of five years that may be extended, at the Company's request, for two additional one year terms.

Commitments and Contingencies - Summary of Future Minimum Commitments Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2015 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2016	$ 28,170
2017	26,416
2018	25,064
2019	20,369
2020	17,863
Thereafter	148,074
Total	$ 265,956

Commitments and Contingencies - Summary of Fair Values of Derivative Instruments (Detail) - Derivatives Designated as Hedging Instruments [Member] - Foreign Exchange Contracts [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Prepaid and Other Assets [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives	$ 640
Other Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives	$ (2)	$ (243)

Commitments and Contingencies - Interest Rate Swaps and Derivative Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (Effective Portion)			$ (1,364)
Amount of Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)	$ 0	$ 0	0
Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)	$ 0	$ 0	$ 0

Commitments and Contingencies - Effect of Financial Derivatives on Statements of Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivatives not Designated as Hedging Instruments [Member] \| Other Expense (Income) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ 366	$ (834)	$ (139)

Property, Equipment and Leasehold Improvements - Schedule of Property, Equipment and Leasehold Improvements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Computer & related equipment	$ 143,499	$ 118,537
Furniture & fixtures	9,870	9,569
Leasehold improvements	47,579	49,756
Work-in-process	12,658	9,020
Subtotal	213,606	186,882
Accumulated depreciation and amortization	(114,680)	(92,808)
Property, equipment and leasehold improvements, net	$ 98,926	$ 94,074
Computer & Related Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	2 years
Computer & Related Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Furniture & Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	7 years
Leasehold improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	1 year
Leasehold improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	21 years

Property, Equipment and Leasehold Improvements - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Abstract]
Depreciation and amortization of property, equipment and leasehold improvements	$ 7,568	$ 8,049	$ 8,065	$ 7,207	$ 7,620	$ 6,342	$ 5,921	$ 5,828	$ 30,889	$ 25,711	$ 20,384

Goodwill and Intangible Assets - Schedule of Change to Company's Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Beginning balance	$ 1,564,904	$ 1,813,164
Changes to goodwill	4,202	(244,299)
Foreign exchange translation adjustment	(3,485)	(3,961)
Goodwill, Ending balance	$ 1,565,621	$ 1,564,904

Goodwill and Intangible Assets - Schedule of Change to Company's Goodwill (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Aug. 11, 2014	Dec. 31, 2013
Goodwill [Line Items]
Goodwill	$ 1,565,621	$ 1,564,904		$ 1,813,164
GMI Ratings [Member]
Goodwill [Line Items]
Adjustments to goodwill from acquisitions	9,900
Goodwill			$ 9,900
Insignis [Member]
Goodwill [Line Items]
Adjustments to goodwill from acquisitions	4,200
Goodwill	4,200
Index [Member]
Goodwill [Line Items]
Goodwill	1,210,400
Analytics [Member]
Goodwill [Line Items]
Goodwill	302,500
All Other [Member]
Goodwill [Line Items]
Goodwill	52,700
Institutional Shareholder Services Inc. [Member]
Goodwill [Line Items]
Adjustments to goodwill from sale of business unit	$ 254,200

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 11,803	$ 11,710	$ 11,695	$ 11,702	$ 11,591	$ 11,574	$ 11,442	$ 11,270	$ 46,910	$ 45,877	$ 44,798

Goodwill and Intangible Assets - Components of Intangible Assets by Major Class (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying value	$ 810,002	$ 805,837
Accumulated amortization	(418,512)	(372,209)
Net carrying value	$ 391,490	433,628
Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Remaining Useful Lives	1 year
Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Remaining Useful Lives	20 years
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying value	$ 361,746	360,835
Accumulated amortization	(143,325)	(119,058)
Net carrying value	$ 218,421	241,777
Customer Relationships [Member] \| Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Remaining Useful Lives	5 years
Customer Relationships [Member] \| Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Remaining Useful Lives	21 years
Trademarks/Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying value	$ 223,382	223,382
Accumulated amortization	(93,476)	(81,545)
Net carrying value	$ 129,906	141,837
Trademarks/Trade Names [Member] \| Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Remaining Useful Lives	5 years
Trademarks/Trade Names [Member] \| Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Remaining Useful Lives	21 years 6 months
Technology/Software [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying value	$ 199,889	193,681
Accumulated amortization	(175,209)	(167,083)
Net carrying value	$ 24,680	26,598
Technology/Software [Member] \| Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Remaining Useful Lives	3 years
Technology/Software [Member] \| Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Remaining Useful Lives	8 years 6 months
Proprietary Data [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Remaining Useful Lives	13 years
Gross carrying value	$ 28,627	28,627
Accumulated amortization	(6,698)	(4,589)
Net carrying value	$ 21,929	24,038
Covenant Not to Compete [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Remaining Useful Lives	2 years
Gross carrying value	$ 1,225	900
Accumulated amortization	(665)	(187)
Net carrying value	560	713
Subtotal [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying value	814,869	807,425
Accumulated amortization	(419,373)	(372,462)
Net carrying value	395,496	434,963
Foreign Exchange Translation Adjustment [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying value	(4,867)	(1,588)
Accumulated amortization	861	253
Net carrying value	$ (4,006)	$ (1,335)

Goodwill and Intangible Assets - Estimated Amortization Expense for Succeeding Years (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
2016	$ 47,965
2017	43,097
2018	39,863
2019	37,853
2020	36,106
Thereafter	186,606
Net carrying value	$ 391,490	$ 433,628

Employee Benefits - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Employee Benefit Plans [Line Items]
Pension and post-retirement benefit expenses	$ 23.1	$ 22.2	$ 18.2
Defined contribution plan expenses	18.4	19.3	15.7
Net periodic benefit expense	4.7	2.8	2.5
Fair value of the defined benefit plan assets	16.4	14.3
Other Non-current Liabilities [Member]
Employee Benefit Plans [Line Items]
Defined benefit plan, liability	17.1	16.7
Cost of Revenues [Member]
Employee Benefit Plans [Line Items]
Pension and post-retirement benefit expenses	10.7	9.9	8.4
Selling and Marketing [Member]
Employee Benefit Plans [Line Items]
Pension and post-retirement benefit expenses	6.8	7.2	5.6
Research and Development [Member]
Employee Benefit Plans [Line Items]
Pension and post-retirement benefit expenses	4.0	3.7	3.0
General and Administrative [Member]
Employee Benefit Plans [Line Items]
Pension and post-retirement benefit expenses	$ 1.6	$ 1.3	$ 1.2

Shareholders' Equity - Additional Information (Detail) - USD ($)						1 Months Ended	2 Months Ended	7 Months Ended	12 Months Ended			16 Months Ended	48 Months Ended
	Dec. 31, 2015	May 21, 2015	Sep. 19, 2014	Sep. 18, 2014	Feb. 06, 2014	Feb. 29, 2016	Feb. 19, 2016	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2015	Oct. 28, 2015	Oct. 14, 2015	Sep. 17, 2014	Feb. 04, 2014	Dec. 13, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchases, value									$ 700,715,000	$ 409,651,000	$ 112,183,000
Common shares received									11,856,169	6,856,866	3,197,371
Share repurchases and cash dividends returned through capital return plan												$ 1,100,000,000	$ 1,400,000,000
Capital returned through capital return plan												1,000,000,000
Number of shares grants in period									0	0
Allocated share based compensation expense									$ 27,476,000	$ 25,616,000	$ 22,771,000
Tax benefits for share-based compensation expense related to deferred stock and stock options									15,300,000	2,800,000	2,600,000
Compensation cost related to unvested share-based awards not yet recognized	$ 14,500,000							$ 14,500,000	$ 14,500,000			$ 14,500,000	$ 14,500,000
Number of shares available for future grants	6,700,000							6,700,000	6,700,000			6,700,000	6,700,000
Total fair value of restricted stock units and restricted stock awards converted or vested to common stock									$ 34,100,000	24,500,000	$ 28,200,000
Weighted average fair value of stock options assumed											$ 19.18
Intrinsic value of the stock options exercised									$ 37,300,000	12,800,000	$ 13,900,000
2012 Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase program authorizing the purchase of shares																		$ 300,000,000
Shares repurchases, value					$ 100,000,000						200,000,000
2014 Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase program authorizing the purchase of shares																$ 850,000,000	$ 300,000,000
Exhausted share repurchase authorization															$ 850,000,000
2014 Repurchase Program [Member] \| September 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchases, value				$ 300,000,000
Common shares received		1,200,000	4,500,000
Repurchased common shares, average purchase price paid per share									$ 52.79
Accelerated share repurchase agreement, description									On September 18, 2014, as part of the 2014 Repurchase Program, the Company entered into an ASR agreement to initiate share repurchases aggregating $300.0 million (the "September 2014 ASR Agreement"). As a result of the September 2014 ASR Agreement, the Company received approximately 4.5 million shares of MSCI's common stock on September 19, 2014 and approximately 1.2 million shares of MSCI's common stock on May 21, 2015 for a combined average price of $52.79 per share.
2015 Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase program authorizing the purchase of shares														$ 1,000,000,000
2014 and 2015 Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchases, value								$ 670,800,000
Common shares received								10,700,000	16,400,000
Repurchased common shares, average purchase price paid per share									$ 59.22
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost related to unvested share-based awards not yet recognized, period for recognition	1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost related to unvested share-based awards not yet recognized, period for recognition	3 years
Income (loss) from Discontinued Operations, Net of Income Taxes [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expense									$ 0	$ 1,400,000	$ 2,800,000
Subsequent Events [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchases, value							$ 170,600,000
Common shares received							2,600,000
2015 Bonus Award [Member] \| Subsequent Events [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares grants in period						711,329
Amount of the award granted to retirement-eligible employees						$ 9,800,000
Aggregate fair value						$ 42,500,000
2015 Bonus Award [Member] \| Subsequent Events [Member] \| RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of awards						3 years
Fraction of bonus award vested per year						33.00%
2015 Bonus Award [Member] \| Subsequent Events [Member] \| MSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of awards						3 years
Minimum performance period						3 years
Additional extended performance period						6 months

Shareholders' Equity - Schedule of Cash Dividends Declared and Distributed Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended					12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Cash dividends declared, Per share	$ 0.22	$ 0.22	$ 0.18	$ 0.18	$ 0.18	$ 0.80	$ 0.18
Cash dividends declared, Amount	$ 22,792	$ 24,152	$ 20,442	$ 20,411	$ 20,393	$ 87,797
Cash dividends distributed, Per share	$ 0.22	$ 0.22	$ 0.18	$ 0.18	$ 0.18	$ 0.80
Cash dividends distributed, Amount	$ 22,792	$ 24,152	$ 20,442	$ 20,411	$ 20,393	$ 87,797

Shareholders' Equity - Summary of Activity Related to Shares of Common Stock Issued and Repurchased (Detail) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Common Stock Outstanding [Line Items]
Beginning balance	112,072,469	118,083,111	120,114,586
Dividend payable/paid	417
Common stock issued and exercise of stock options	1,558,965	1,076,751	1,517,381
Shares received for taxes and exercise price of stock awards	(763,558)	(233,163)	(352,086)
Shares received under stock repurchase programs	(11,856,169)	(6,856,866)	(3,197,371)
Stock issued to Directors and held in Treasury	1,024	2,636	601
Ending balance	101,013,148	112,072,469	118,083,111
Common Stock Issued [Member]
Common Stock Outstanding [Line Items]
Beginning balance	126,637,390	125,555,268	124,033,980
Dividend payable/paid	802	99
Common stock issued and exercise of stock options	1,558,965	1,076,751	1,517,381
Stock issued to Directors and held in Treasury	3,032	5,272	3,907
Ending balance	128,200,189	126,637,390	125,555,268
Treasury Stock [Member]
Common Stock Outstanding [Line Items]
Beginning balance	(14,564,921)	(7,472,157)	(3,919,394)
Dividend payable/paid	(385)	(99)
Shares received for taxes and exercise price of stock awards	(763,558)	(233,163)	(352,086)
Shares received under stock repurchase programs	(11,856,169)	(6,856,866)	(3,197,371)
Stock issued to Directors and held in Treasury	(2,008)	(2,636)	(3,306)
Ending balance	(27,187,041)	(14,564,921)	(7,472,157)

Shareholders' Equity - Components of Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 27,476	$ 27,031	$ 25,553
Deferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	27,549	25,830	23,910
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ (73)	$ 1,201	$ 1,643

Shareholders' Equity - Summary of Share-based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	$ 27,476	$ 25,616	$ 22,771
Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	6,909	7,187	7,490
Selling and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	6,564	7,296	5,721
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	2,823	3,128	2,283
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	$ 11,180	$ 8,005	$ 7,277

Shareholders' Equity - Summary of Vested and Unvested Deferred Stock Awards Activity (Detail) shares in Thousands	12 Months Ended
	Dec. 31, 2015 $ / shares shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Vested and unvested deferred stock awards at the beginning of period, Number of Shares \| shares	1,213
Granted, Number of Shares \| shares	634
Conversion to common stock, Number of Shares \| shares	(640)
Canceled, Number of Shares \| shares	(132)
Vested and unvested deferred stock awards at the end of period, Number of Shares \| shares	1,075
Vested and unvested deferred stock awards at the beginning of period, Weighted Average Grant Date Fair Value \| $ / shares	$ 37.82
Granted, Weighted Average Grant Date Fair Value \| $ / shares	55.20
Conversion to common stock, Weighted Average Grant Date Fair Value \| $ / shares	36.55
Canceled, Weighted Average Grant Date Fair Value \| $ / shares	47.47
Vested and unvested deferred stock awards at the end of period, Weighted Average Grant Date Fair Value \| $ / shares	$ 47.70

Shareholders' Equity - Summary of Vested and Unvested Deferred Stock Awards Activity (Parenthetical) (Detail) shares in Thousands	Dec. 31, 2015 $ / shares shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Restricted stock units and restricted stock awards, vested or expected to vest \| shares	1,054
Restricted stock units and restricted stock awards vested or expected to vest, weighted average price \| $ / shares	$ 47.60

Shareholders' Equity - Summary of Unvested Deferred Stock Awards Activity (Detail) shares in Thousands	12 Months Ended
	Dec. 31, 2015 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Grant Date Fair Value, balance at the beginning of the period \| $ / shares	$ 37.99
Weighted Average Grant Date Fair Value, Granted \| $ / shares	55.45
Weighted Average Grant Date Fair Value, Vested \| $ / shares	37.18
Weighted Average Grant Date Fair Value, Canceled \| $ / shares	47.81
Weighted Average Grant Date Fair Value, balance at the end of the period \| $ / shares	47.83
Weighted Average Grant Date Fair Value, Expected to vest \| $ / shares	$ 47.69
Unvested Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested deferred stock awards, balance at the beginning of period \| shares	883
Number of Shares, Granted \| shares	499
Number of Shares, Vested \| shares	(453)
Number of Shares, Canceled \| shares	(129)
Unvested deferred stock awards, balance at the end of period \| shares	800
Number of shares, Expected to vest \| shares	779

Shareholders' Equity - Weighted Average Fair Value of Stock Options Assumed (Detail)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk free interest rate	1.87%
Expected option life in years	6 years 6 months
Expected stock price volatility	46.07%
Expected dividend yield	0.00%

Shareholders' Equity - Summary of Stock Options Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of Options, Options outstanding, Beginning balance	1,487,000
Number of Options, Granted or assumed	0	0
Number of Options, Forfeited	(63,000)
Number of Options, Conversion to common stock	(939,000)
Number of Options, Options outstanding, Ending balance	485,000	1,487,000
Number of Options, Options exercisable	435,000
Number of Options, Options vested or expected to vest	485,000
Weighted Average Exercise Price, Options outstanding, Beginning balance	$ 22.69
Weighted Average Exercise Price, Granted or assumed	0
Weighted Average Exercise Price, Forfeited	40.14
Weighted Average Exercise Price, Conversion to common stock	20.97
Weighted Average Exercise Price, Options outstanding, Ending balance	23.77	$ 22.69
Weighted Average Exercise Price, Options Exercisable	22.29
Weighted Average Exercise Price, Options vested or expected to vest	$ 23.77
Weighted Average Remaining Life (Years), Options outstanding	2 years 4 months 24 days	3 years 9 months 4 days
Weighted Average Remaining Life (Years), Options exercisable	2 years 8 months 5 days
Weighted Average Remaining Life (Years), Options vested or expected to vest	2 years 4 months 24 days
Aggregated Intrinsic Value, Options outstanding	$ 23,432
Aggregated Intrinsic Value, Options exercisable	21,669
Aggregated Intrinsic Value, Options vested or expected to vest	$ 23,432

Shareholders' Equity - Summary of Stock Options Outstanding by Exercise Price Range (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($) $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number Outstanding, Options Outstanding \| shares	485
Aggregate Intrinsic Value, Options Outstanding \| $	$ 23,432
First Exercise Price Range [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Minimum	$ 9.92
Range of Exercise Price, Maximum	$ 16.48
Number Outstanding, Options Outstanding \| shares	55
Weighted Average Exercise Price, Options Outstanding	$ 15.54
Average Remaining Life (Years), Options Outstanding	2 years 9 months 18 days
Aggregate Intrinsic Value, Options Outstanding \| $	$ 3,109
Second Exercise Price Range [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices	$ 18.00
Number Outstanding, Options Outstanding \| shares	134
Weighted Average Exercise Price, Options Outstanding	$ 18.00
Average Remaining Life (Years), Options Outstanding	1 year 10 months 13 days
Aggregate Intrinsic Value, Options Outstanding \| $	$ 7,260
Third Exercise Price Range [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Minimum	$ 20.45
Range of Exercise Price, Maximum	$ 24.11
Number Outstanding, Options Outstanding \| shares	153
Weighted Average Exercise Price, Options Outstanding	$ 22.45
Average Remaining Life (Years), Options Outstanding	1 year 11 months 12 days
Aggregate Intrinsic Value, Options Outstanding \| $	$ 7,581
Fourth Exercise Price Range [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Minimum	$ 25.64
Range of Exercise Price, Maximum	$ 40.23
Number Outstanding, Options Outstanding \| shares	143
Weighted Average Exercise Price, Options Outstanding	$ 33.75
Average Remaining Life (Years), Options Outstanding	3 years 2 months 23 days
Aggregate Intrinsic Value, Options Outstanding \| $	$ 5,482

Shareholders' Equity - Summary of Stock Options Exercisable by Exercise Price Range (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($) $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number Outstanding, Options Exercisable \| shares	435
Weighted Average Exercise Price, Options Exercisable	$ 22.29
Aggregate Intrinsic Value, Options Exercisable \| $	$ 21,669
First Exercise Price Range [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Minimum	$ 9.92
Range of Exercise Price, Maximum	$ 16.48
Number Outstanding, Options Exercisable \| shares	55
Weighted Average Exercise Price, Options Exercisable	$ 15.54
Average Remaining Life (Years), Options Exercisable	2 years 9 months 18 days
Aggregate Intrinsic Value, Options Exercisable \| $	$ 3,109
Second Exercise Price Range [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices	$ 18.00
Number Outstanding, Options Exercisable \| shares	134
Weighted Average Exercise Price, Options Exercisable	$ 18.00
Average Remaining Life (Years), Options Exercisable	1 year 10 months 13 days
Aggregate Intrinsic Value, Options Exercisable \| $	$ 7,260
Third Exercise Price Range [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Minimum	$ 20.45
Range of Exercise Price, Maximum	$ 24.11
Number Outstanding, Options Exercisable \| shares	153
Weighted Average Exercise Price, Options Exercisable	$ 22.45
Average Remaining Life (Years), Options Exercisable	1 year 11 months 12 days
Aggregate Intrinsic Value, Options Exercisable \| $	$ 7,581
Fourth Exercise Price Range [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Minimum	$ 25.64
Range of Exercise Price, Maximum	$ 40.23
Number Outstanding, Options Exercisable \| shares	93
Weighted Average Exercise Price, Options Exercisable	$ 32.18
Average Remaining Life (Years), Options Exercisable	2 years 3 months 22 days
Aggregate Intrinsic Value, Options Exercisable \| $	$ 3,719

Income Taxes - Summary of Provision for Income Taxes (Benefits) by Taxing Jurisdiction (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Current, U.S. federal									$ 85,540	$ 84,959	$ 97,739
Current, U.S. state and local									22,108	13,929	16,820
Current, Non U.S.									22,156	18,505	18,270
Current provision for income taxes (benefits)									129,804	117,393	132,829
Deferred, U.S. federal									(10,546)	(2,606)	(14,362)
Deferred, U.S. state and local									1,460	(3,356)	(3,802)
Deferred, Non U.S.									(1,202)	(2,035)	(1,747)
Deferred provision for income taxes (benefits)									(10,288)	(7,997)	(19,911)
Provision for income taxes from continuing operations	$ 25,437	$ 34,644	$ 31,399	$ 28,036	$ 27,459	$ 28,272	$ 27,280	$ 26,385	119,516	109,396	112,918
Provision for income taxes from discontinued operations									$ 6,390	$ 1,059	$ 10,146

Income Taxes - Reconciliation of Provision to U.S. Federal Statutory Income Tax Rate for Income from Continuing Operations (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	35.00%	35.00%	35.00%
U.S. state and local income taxes, net of U.S. federal income tax benefits	4.44%	2.72%	3.05%
Change in tax rates applicable to non-U.S. earnings	(2.73%)	(1.88%)	(0.93%)
Domestic tax credits and incentives	(2.62%)	(0.86%)	(0.95%)
Other	0.10%	0.50%	(0.07%)
Effective income tax rate	34.19%	35.48%	36.10%

Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Employee compensation and benefit plans	$ 23,700	$ 24,765
Deferred rent	7,485	7,229
State taxes		2,322
Pension	2,030	2,494
Unearned revenue	1,555	1,117
Loss carryforwards - current		1,667
Loss carryforwards - non-current	33,389	34,249
Other	678	1,979
Subtotal	68,837	75,822
Less: valuation allowance	(21,052)	(21,232)
Total deferred tax assets	47,785	54,590
Deferred tax liabilities:
Intangible assets	(138,832)	(154,965)
Foreign currency translation	(352)	(629)
Property, equipment and leasehold improvements, net	(10,358)	(10,435)
Other		(246)
Total deferred tax liabilities	(149,542)	(166,275)
Net deferred tax liabilities	$ (101,757)	$ (111,685)

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Examination [Line Items]
Earnings attributable to foreign subsidiaries	$ 224,800,000	$ 149,100,000	$ 188,600,000
Significant change in unrecognized tax benefits, reasonably possible	It is reasonably possible that significant changes in the balance of unrecognized tax benefits may occur within the next 12 months.
Significant change in unrecognized tax benefits, not possible	At this time, however, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits and the impact on the effective tax rate over the next 12 months.
Total amount of unrecognized tax benefits	$ 7,800,000
Unrecognized tax benefits, interest on income tax expenses	300,000
Penalties recognized during the year	$ 0
Minimum [Member]
Income Tax Examination [Line Items]
Tax years under examination	2005
Maximum [Member]
Income Tax Examination [Line Items]
Tax years under examination	2014
Capital Loss Carryforward [Member]
Income Tax Examination [Line Items]
Capital loss carryforward tax value	$ 21,100,000
Expiration period	2019
State and Local Jurisdiction [Member] \| New York State Division of Taxation and Finance [Member] \| Minimum [Member] \| Morgan Stanley [Member]
Income Tax Examination [Line Items]
Tax years under examination	2007
State and Local Jurisdiction [Member] \| New York State Division of Taxation and Finance [Member] \| Maximum [Member] \| Morgan Stanley [Member]
Income Tax Examination [Line Items]
Tax years under examination	2008
Domestic Tax Authority [Member]
Income Tax Examination [Line Items]
Net operating loss carryforwards	$ 10,200,000
Expiration period	2020
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member] \| Minimum [Member] \| Morgan Stanley [Member]
Income Tax Examination [Line Items]
Tax years under examination	2006
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member] \| Maximum [Member] \| Morgan Stanley [Member]
Income Tax Examination [Line Items]
Tax years under examination	2008

Income Taxes - Summary of Components of Income Before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Domestic									$ 282,764	$ 269,944	$ 276,549
Foreign									66,790	38,394	36,279
Income from continuing operations before provision for income taxes	$ 85,436	$ 99,042	$ 87,416	$ 77,660	$ 70,728	$ 79,996	$ 84,083	$ 73,531	$ 349,554	$ 308,338	$ 312,828

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Beginning balance	$ 6,525	$ 7,089	$ 6,827
Increases based on tax positions related to the current period	536	292	194
Increases based on tax positions related to prior periods	2,131	1,969	2,690
Decreases based on tax positions related to prior periods	(500)	(346)	(2,474)
Increases/ (Decreases) related to settlements with taxing authorities		(1,652)
Increases/(Decreases) related to a lapse of applicable statute of limitations		(827)	(148)
Ending balance	$ 8,692	$ 6,525	$ 7,089

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands			12 Months Ended
	Oct. 16, 2015	Aug. 11, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Purchase price allocated to goodwill			$ 1,565,621	$ 1,564,904	$ 1,813,164
GMI Ratings [Member]
Business Acquisition [Line Items]
Company paid cash to acquire property		$ 15,500
Date of acquisition			Aug. 11, 2014
Purchase price allocated to identifiable intangible assets		3,600
Purchase price allocated for assets other than identifiable intangible assets		6,700
Purchase price allocated to goodwill		9,900
Purchase price allocated to other liabilities		$ 4,700
Insignis [Member]
Business Acquisition [Line Items]
Company paid cash to acquire property	$ 6,500
Date of acquisition			Oct. 02, 2015
Purchase price allocated to identifiable intangible assets			$ 2,200
Purchase price allocated for assets other than identifiable intangible assets			100
Purchase price allocated to goodwill			$ 4,200

Segment Information - Additional Information (Detail)	12 Months Ended
Segment Information - Additional Information (Detail)	Dec. 31, 2015 Segment
Segment Reporting [Abstract]
Number of operating segments	4

Segment Information - Operating Revenue by Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting, Revenue Reconciling Item [Line Items]
Total	$ 272,893	$ 268,771	$ 270,580	$ 262,769	$ 251,105	$ 251,661	$ 254,226	$ 239,688	$ 1,075,013	$ 996,680	$ 913,364
Index [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total									558,964	503,892	448,414
Analytics [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total									433,424	414,085	397,203
All Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total									$ 82,625	$ 78,703	$ 67,747

Segment Information - Segment Profitability and Reconciliation to Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Adjusted EBITDA									$ 481,697	$ 408,754	$ 405,148
Lease exit charge											(365)
Amortization of intangible assets	$ 11,803	$ 11,710	$ 11,695	$ 11,702	$ 11,591	$ 11,574	$ 11,442	$ 11,270	46,910	45,877	44,798
Depreciation and amortization of property, equipment and leasehold improvements	7,568	8,049	8,065	7,207	7,620	6,342	5,921	5,828	30,889	25,711	20,384
Operating income	107,543	109,102	98,511	88,742	85,094	84,036	88,531	79,505	403,898	337,166	340,331
Other expense (income), net	22,107	10,060	11,095	11,082	14,366	4,040	4,448	5,974	54,344	28,828	27,503
Provision for income taxes	25,437	34,644	31,399	28,036	27,459	28,272	27,280	26,385	119,516	109,396	112,918
Income from continuing operations									230,038	198,942	199,910
Income (loss) from discontinued operations, net of income taxes	(593)			(5,797)	1,071	(10)	50,857	33,253	(6,390)	85,171	22,647
Net income	$ 59,406	$ 64,398	$ 56,017	$ 43,827	$ 44,340	$ 51,714	$ 107,660	$ 80,399	223,648	284,113	222,557
Index [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA									392,987	349,685	323,558
Analytics [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA									95,468	72,173	97,806
All Other [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA									$ (6,758)	$ (13,104)	$ (16,216)

Segment Information - Revenue by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	$ 272,893	$ 268,771	$ 270,580	$ 262,769	$ 251,105	$ 251,661	$ 254,226	$ 239,688	$ 1,075,013	$ 996,680	$ 913,364
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues									519,429	471,145	416,999
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues									41,552	37,189	34,547
Total Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues									560,981	508,334	451,546
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues									166,019	154,308	141,938
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues									215,192	209,893	202,664
Europe, the Middle East and Africa ("EMEA") [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues									381,211	364,201	344,602
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues									45,371	46,642	46,752
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues									87,450	77,503	70,464
Total Asia & Australia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues									$ 132,821	$ 124,145	$ 117,216

Segment Information - Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 2,056,037	$ 2,092,606
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	1,916,689	1,944,433
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	2,279	3,293
Total Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	1,918,968	1,947,726
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	110,261	120,781
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	16,849	13,345
Total EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	127,110	134,126
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	570	837
Other [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	9,389	9,917
Total Asia & Australia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 9,959	$ 10,754

Quarterly Results of Operations - Summary of Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Operating revenues	$ 272,893	$ 268,771	$ 270,580	$ 262,769	$ 251,105	$ 251,661	$ 254,226	$ 239,688	$ 1,075,013	$ 996,680	$ 913,364
Cost of revenues	64,804	65,593	67,394	69,904	69,839	69,770	70,212	66,802	267,695	276,623	240,697
Selling and marketing	39,809	38,809	42,028	41,648	40,805	41,402	40,506	41,126	162,294	163,839	137,693
Research and development	17,776	15,548	20,807	23,189	17,235	19,021	17,374	17,465	77,320	71,095	61,003
General and administrative	23,590	19,960	22,080	20,377	18,921	19,516	20,240	17,692	86,007	76,369	68,458
Amortization of intangible assets	11,803	11,710	11,695	11,702	11,591	11,574	11,442	11,270	46,910	45,877	44,798
Depreciation and amortization of property, equipment and leasehold improvements	7,568	8,049	8,065	7,207	7,620	6,342	5,921	5,828	30,889	25,711	20,384
Total operating expenses	165,350	159,669	172,069	174,027	166,011	167,625	165,695	160,183	671,115	659,514	573,033
Operating income	107,543	109,102	98,511	88,742	85,094	84,036	88,531	79,505	403,898	337,166	340,331
Interest income	(492)	(285)	(185)	(204)	(226)	(277)	(192)	(156)	(1,166)	(851)	(889)
Interest expense	22,896	17,267	11,116	11,108	15,791	5,604	5,366	5,059	62,387	31,820	26,256
Other expense (income)	(297)	(6,922)	164	178	(1,199)	(1,287)	(726)	1,071	(6,877)	(2,141)	2,136
Other expense (income), net	22,107	10,060	11,095	11,082	14,366	4,040	4,448	5,974	54,344	28,828	27,503
Income from continuing operations before provision for income taxes	85,436	99,042	87,416	77,660	70,728	79,996	84,083	73,531	349,554	308,338	312,828
Provision for income taxes	25,437	34,644	31,399	28,036	27,459	28,272	27,280	26,385	119,516	109,396	112,918
Income from continuing operations	59,999	64,398	56,017	49,624	43,269	51,724	56,803	47,146
Income (loss) from discontinued operations, net of income taxes	(593)			(5,797)	1,071	(10)	50,857	33,253	(6,390)	85,171	22,647
Net income	$ 59,406	$ 64,398	$ 56,017	$ 43,827	$ 44,340	$ 51,714	$ 107,660	$ 80,399	$ 223,648	$ 284,113	$ 222,557
Earnings per basic common share
From continuing operations	$ 0.59	$ 0.59	$ 0.50	$ 0.44	$ 0.38	$ 0.44	$ 0.48	$ 0.40	$ 2.11	$ 1.72	$ 1.66
From discontinued operations	(0.01)			(0.05)	0.01		0.44	0.28
Earnings per basic common share	0.58	0.59	0.50	0.39	0.39	0.44	0.92	0.68	2.05	2.45	1.85
Earnings per diluted common share
From continuing operations	0.58	0.59	0.50	0.44	0.38	0.44	0.48	0.40	2.09	1.70	1.64
From discontinued operations	(0.01)			(0.05)	0.01		0.43	0.28
Earnings per diluted common share	$ 0.57	$ 0.59	$ 0.50	$ 0.39	$ 0.39	$ 0.44	$ 0.91	$ 0.68	$ 2.03	$ 2.43	$ 1.83
Weighted average shares outstanding used in computing per share data
Basic	102,837	108,773	112,143	112,520	112,299	116,251	116,702	117,582	109,124	115,737	120,100
Diluted	103,589	109,440	112,931	113,522	113,289	117,163	117,664	118,597	109,926	116,706	121,074

Subsequent Events - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		2 Months Ended	3 Months Ended					12 Months Ended
	Feb. 02, 2016	Feb. 19, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Subsequent Event [Line Items]
Quarterly dividend declared			$ 0.22	$ 0.22	$ 0.18	$ 0.18	$ 0.18	$ 0.80	$ 0.18
Number of shares repurchased								11,856,169	6,856,866	3,197,371
Value of shares repurchased								$ 700,715	$ 409,651	$ 112,183
Subsequent Events [Member]
Subsequent Event [Line Items]
Quarterly dividend declared	$ 0.22
Quarterly dividend declared date	Feb. 03, 2016
Quarterly dividend payable date	Mar. 11, 2016
Quarterly dividend record date	Feb. 19, 2016
Number of shares repurchased		2,600,000
Value of shares repurchased		$ 170,600