- \n
- 1Q23 net revenues of $1.9 billion; recurring revenues +4% y\/y<\/b><\/li>\n
- 1Q23 GAAP diluted earnings per share (EPS) of $1.17<\/b><\/li>\n
- 1Q23 adj. diluted earnings per share of $1.41<\/b><\/li>\n
- 1Q23 operating margin of 51%; adj. operating margin of 61%<\/b><\/li>\n
- Record exchanges net revenues +1% y\/y; +3% y\/y, constant currency (CC)*<\/b><\/li>\n
- Record fixed income & data services revenues, +11% y\/y; +12% y\/y, CC*<\/b><\/li>\n
- Top five global bank to replace in-house mortgage technology with Encompass<\/b><\/li>\n<\/ul>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
Jeffrey C. Sprecher<\/b>,
ICE Chair & Chief Executive Officer<\/i>, said<\/i>,
“We are pleased to report solid first quarter results. Amidst a dynamic macroeconomic environment, our customers continue to rely on our mission-critical data and technology to provide transparency and efficiencies across asset classes and through an array of macroeconomic environments – a testament to the resiliency of our business model. As we look to the balance of the year and beyond, ICE’s diverse platform is well positioned to continue to serve our customers, generate growth and create value for our stockholders.”<\/td>\n<\/tr>\n<\/table>\n\nIntercontinental Exchange (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today reported financial results for the first quarter of 2023. For the quarter ended March 31, 2023, consolidated net income attributable to ICE was $655 million on $1.9 billion of consolidated revenues, less transaction-based expenses. First quarter GAAP diluted earnings per share was $1.17. Adjusted net income attributable to ICE was $791 million in the first quarter and adjusted diluted EPS was $1.41. Please refer to the reconciliation of non-GAAP financial measures included in this press release for more information on our adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income, adjusted diluted EPS and adjusted free cash flow.<\/p>\n
\nWarren Gardiner, ICE Chief Financial Officer, added: “We delivered another quarter of strong operating results, including compounding growth in our recurring revenues across all three business segments. We remain well positioned to benefit from near-term cyclical tailwinds, longer-term secular trends and are focused on investing in profitable growth to create value for our stockholders.”<\/p>\n
\n
\n \n \n*Constant currency (CC) percentage changes are calculated holding both the pound sterling and euro at the average exchange rate from 1Q22, 1.3424 and 1.1229, respectively.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
First Quarter 2023 Business Highlights<\/b><\/p>\n
\nFirst quarter consolidated net revenues were $1.9 billion year-over-year including exchange net revenues of $1.1 billion, fixed income and data services revenues of $563 million and mortgage technology revenues of $236 million. Consolidated operating expenses were $927 million for the first quarter of 2023. On an adjusted basis, consolidated operating expenses were $740 million. Consolidated operating income for the first quarter was $969 million and the operating margin was 51%. On an adjusted basis, consolidated operating income for the first quarter was $1.2 billion and the adjusted operating margin was 61%.<\/p>\n
\n
\n \n \n$ (in millions)<\/p>\n<\/td>\n
\n Net
\n
Revenue<\/b><\/p>\n<\/td>\n\n Op
\n
Margin<\/b><\/p>\n<\/td>\n\n Adj Op
\n
Margin<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n\u00a0<\/p>\n<\/td>\n
\n 1Q23<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nExchanges<\/p>\n<\/td>\n
\n \n$1,097<\/p>\n<\/td>\n
\n \n70%<\/p>\n<\/td>\n
\n \n74%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFixed Income and Data Services<\/p>\n<\/td>\n
\n \n$563<\/p>\n<\/td>\n
\n \n39%<\/p>\n<\/td>\n
\n \n47%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nMortgage Technology<\/p>\n<\/td>\n
\n \n$236<\/p>\n<\/td>\n
\n \n(7)%<\/p>\n<\/td>\n
\n \n36%<\/p>\n<\/td>\n<\/tr>\n
\n \n Consolidated<\/b><\/p>\n<\/td>\n
\n $1,896<\/b><\/p>\n<\/td>\n
\n 51%<\/b><\/p>\n<\/td>\n
\n 61%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 1Q23<\/b><\/p>\n<\/td>\n
\n 1Q22<\/b><\/p>\n<\/td>\n
\n % Chg<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nRecurring Revenue<\/p>\n<\/td>\n
\n \n$953<\/p>\n<\/td>\n
\n \n$921<\/p>\n<\/td>\n
\n \n4%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTransaction Revenue, net<\/p>\n<\/td>\n
\n \n$943<\/p>\n<\/td>\n
\n \n$978<\/p>\n<\/td>\n
\n \n(4)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Exchanges Segment Results<\/b><\/p>\n
\nFirst quarter exchange net revenues were $1.1 billion. Exchange operating expenses were $332 million and on an adjusted basis, were $288 million in the first quarter. Segment operating income for the first quarter was $765 million and the operating margin was 70%. On an adjusted basis, operating income was $809 million and the adjusted operating margin was 74%.<\/p>\n
\n
\n \n \n$ (in millions)<\/p>\n<\/td>\n
\n 1Q23<\/b><\/p>\n<\/td>\n
\n 1Q22<\/b><\/p>\n<\/td>\n
\n % Chg<\/b><\/p>\n<\/td>\n
\n Const
\n
Curr(1)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \nRevenue, net:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEnergy<\/p>\n<\/td>\n
\n \n$345<\/p>\n<\/td>\n
\n \n$353<\/p>\n<\/td>\n
\n (2)%<\/b><\/p>\n<\/td>\n
\n (1)%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nAgs and Metals<\/p>\n<\/td>\n
\n \n70<\/p>\n<\/td>\n
\n \n61<\/p>\n<\/td>\n
\n 14%<\/b><\/p>\n<\/td>\n
\n 15%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nFinancials(2)<\/sup><\/p>\n<\/td>\n
\n \n128<\/p>\n<\/td>\n
\n \n130<\/p>\n<\/td>\n
\n (1)%<\/b><\/p>\n<\/td>\n
\n 6%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash Equities and Equity Options<\/p>\n<\/td>\n
\n \n95<\/p>\n<\/td>\n
\n \n99<\/p>\n<\/td>\n
\n (4)%<\/b><\/p>\n<\/td>\n
\n (4)%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nOTC and Other(3)<\/sup><\/p>\n<\/td>\n
\n \n101<\/p>\n<\/td>\n
\n \n97<\/p>\n<\/td>\n
\n 4%<\/b><\/p>\n<\/td>\n
\n 6%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nData and Connectivity Services<\/p>\n<\/td>\n
\n \n232<\/p>\n<\/td>\n
\n \n214<\/p>\n<\/td>\n
\n 8%<\/b><\/p>\n<\/td>\n
\n 8%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nListings<\/p>\n<\/td>\n
\n \n126<\/p>\n<\/td>\n
\n \n129<\/p>\n<\/td>\n
\n (2)%<\/b><\/p>\n<\/td>\n
\n (2)%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Segment Revenue<\/b><\/p>\n<\/td>\n
\n $1,097<\/b><\/p>\n<\/td>\n
\n $1,083<\/b><\/p>\n<\/td>\n
\n 1%<\/b><\/p>\n<\/td>\n
\n 3%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRecurring Revenue<\/p>\n<\/td>\n
\n \n$358<\/p>\n<\/td>\n
\n \n$343<\/p>\n<\/td>\n
\n \n5%<\/p>\n<\/td>\n
\n \n5%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTransaction Revenue, net<\/p>\n<\/td>\n
\n \n$739<\/p>\n<\/td>\n
\n \n$740<\/p>\n<\/td>\n
\n \n\u2014%<\/p>\n<\/td>\n
\n \n2%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n \n(1) Net revenues in constant currency are calculated holding both the pound sterling and euro at the average exchange rate from 1Q22, 1.3424 and 1.1229, respectively.<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(2) Financials include interest rates and other financial futures and options.<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(3) OTC & other includes physical energy, interest income on certain clearing margin deposits, regulatory penalties and fines, fees for use of our facilities, regulatory fees charged to member organizations of our U.S. securities exchanges, designated market maker service fees, technology development fees, exchange member fees, and agriculture grading and certification fees.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Fixed Income and Data Services Segment Results<\/b><\/p>\n
\nFirst quarter fixed income and data services revenues were $563 million. Fixed income and data services operating expenses were $343 million and adjusted operating expenses were $301 million in the first quarter. Segment operating income for the first quarter was $220 million and the operating margin was 39%. On an adjusted basis, operating income was $262 million and the adjusted operating margin was 47%.<\/p>\n
\n
\n \n \n$ (in millions)<\/p>\n<\/td>\n
\n 1Q23<\/b><\/p>\n<\/td>\n
\n 1Q22<\/b><\/p>\n<\/td>\n
\n % Chg<\/b><\/p>\n<\/td>\n
\n Const
\n
Curr(1)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \nRevenue:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFixed Income Execution<\/p>\n<\/td>\n
\n \n$32<\/p>\n<\/td>\n
\n \n$15<\/p>\n<\/td>\n
\n 106%<\/b><\/p>\n<\/td>\n
\n 106%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nCDS Clearing<\/p>\n<\/td>\n
\n \n101<\/p>\n<\/td>\n
\n \n72<\/p>\n<\/td>\n
\n 41%<\/b><\/p>\n<\/td>\n
\n 42%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nFixed Income Data and Analytics<\/p>\n<\/td>\n
\n \n276<\/p>\n<\/td>\n
\n \n277<\/p>\n<\/td>\n
\n \u2014%<\/b><\/p>\n<\/td>\n
\n \u2014%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther Data and Network Services<\/p>\n<\/td>\n
\n \n154<\/p>\n<\/td>\n
\n \n145<\/p>\n<\/td>\n
\n 6%<\/b><\/p>\n<\/td>\n
\n 8%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Segment Revenue<\/b><\/p>\n<\/td>\n
\n $563<\/b><\/p>\n<\/td>\n
\n $509<\/b><\/p>\n<\/td>\n
\n 11%<\/b><\/p>\n<\/td>\n
\n 12%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRecurring Revenue<\/p>\n<\/td>\n
\n \n$430<\/p>\n<\/td>\n
\n \n$422<\/p>\n<\/td>\n
\n \n2%<\/p>\n<\/td>\n
\n \n3%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTransaction Revenue<\/p>\n<\/td>\n
\n \n$133<\/p>\n<\/td>\n
\n \n$87<\/p>\n<\/td>\n
\n \n53%<\/p>\n<\/td>\n
\n \n54%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n \n(1) Net revenues in constant currency are calculated holding both the pound sterling and euro at the average exchange rate from 1Q22, 1.3424 and 1.1229, respectively.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Mortgage Technology Segment Results<\/b><\/p>\n
\nFirst quarter mortgage technology revenues were $236 million. Mortgage technology operating expenses were $252 million and adjusted operating expenses were $151 million in the first quarter. Segment operating loss for the first quarter was $16 million and the operating margin was (7)%. On an adjusted basis, operating income was $85 million and the adjusted operating margin was 36%.<\/p>\n
\n
\n \n \n$ (in millions)<\/p>\n<\/td>\n
\n 1Q23<\/b><\/p>\n<\/td>\n
\n 1Q22<\/b><\/p>\n<\/td>\n
\n % Chg<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nRevenue:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOrigination Technology<\/p>\n<\/td>\n
\n \n$167<\/p>\n<\/td>\n
\n \n$203<\/p>\n<\/td>\n
\n (18)%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nClosing Solutions<\/p>\n<\/td>\n
\n \n40<\/p>\n<\/td>\n
\n \n72<\/p>\n<\/td>\n
\n (45)%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nData and Analytics<\/p>\n<\/td>\n
\n \n21<\/p>\n<\/td>\n
\n \n20<\/p>\n<\/td>\n
\n 10%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n12<\/p>\n<\/td>\n
\n (30)%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Segment Revenue<\/b><\/p>\n<\/td>\n
\n $236<\/b><\/p>\n<\/td>\n
\n $307<\/b><\/p>\n<\/td>\n
\n (23)%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRecurring Revenue<\/p>\n<\/td>\n
\n \n$165<\/p>\n<\/td>\n
\n \n$156<\/p>\n<\/td>\n
\n \n6%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTransaction Revenue<\/p>\n<\/td>\n
\n \n$71<\/p>\n<\/td>\n
\n \n$151<\/p>\n<\/td>\n
\n \n(53)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Other Matters<\/b><\/p>\n
- \n
- \nThe effective tax rate for the first quarter of 2023 was 21%.<\/p>\n<\/li>\n
- \nOperating cash flow in the first quarter of 2023 was $653 million and adjusted free cash flow was $673 million.<\/p>\n<\/li>\n
- \nUnrestricted cash was $2.1 billion and outstanding debt was $18.1 billion as of March 31, 2023.<\/p>\n<\/li>\n
- \nThrough the first quarter of 2023, ICE paid $236 million in dividends.<\/p>\n<\/li>\n<\/ul>\n
Updated Financial Guidance<\/b><\/p>\n
- \n
- \nICE’s second quarter 2023 GAAP operating expenses are expected to be in a range of $905 millionto $915 million. Adjusted operating expenses(1)<\/sup> are expected to be in a range of $763 million to $773 million.<\/p>\n<\/li>\n
- \nICE’s second quarter 2023 GAAP non-operating expense(2)<\/sup> is expected to be in the range of $105 million to $110 million. Adjusted non-operating expense is expected to be in the range of $85 million to $90 million.<\/p>\n<\/li>\n
- \nICE’s diluted share count for the second quarter is expected to be in the range of 559 million to 564 million weighted average shares outstanding.<\/p>\n<\/li>\n<\/ul>\n
\n
\n \n \n(1) 2Q23 non-GAAP operating expenses exclude amortization of acquisition-related intangibles, pending Black Knight acquisition costs, and Ellie Mae integration costs.<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(2) Non-operating expense includes interest income, interest expense and net other income\/expense. Non-GAAP non-operating expense excludes equity earnings\/losses from unconsolidated investees and net interest on pre-acquisition related debt.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Earnings Conference Call Information<\/b><\/p>\n
\nICE will hold a conference call today, May 4, 2023, at 8:30 a.m. ET to review its first quarter 2023 financial results. A live audio webcast of the earnings call will be available on the company’s website at www.theice.com<\/a> in the investor relations section. Participants may also listen via telephone by dialing 833-470-1428 from the United States or 929-526-1599 from outside of the United States. Telephone participants are required to provide the participant entry number 284962 and are recommended to call 10 minutes prior to the start of the call<\/b>. The call will be archived on the company’s website for replay.<\/p>\n
\nThe conference call for the second quarter 2023 earnings has been scheduled for August 3rd, 2023 at 8:30 a.m. ET. Please refer to the Investor Relations website at www.ir.theice.com<\/a> for additional information.<\/p>\n
\nHistorical futures, options and cash ADV, rate per contract, open interest data and CDS cleared information can be found at: https:\/\/ir.theice.com\/investor-resources\/supplemental-information\/default.aspx<\/a><\/p>\n
\n
\n \n \u00a0<\/td>\n<\/tr>\n \n \n Consolidated Statements of Income<\/b><\/p>\n
(In millions, except per share amounts)<\/b><\/p>\n
(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \u00a0<\/td>\n<\/tr>\n \n \n \n\u00a0<\/p>\n<\/td>\n
\n Three Months Ended<\/b><\/p>\n
March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Revenues:<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2023<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2022<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nExchanges<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,673<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,643<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFixed income and data services<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n563<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n509<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nMortgage technology<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n236<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n307<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal revenues<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,472<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,459<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTransaction-based expenses:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSection 31 fees<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n119<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n51<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash liquidity payments, routing and clearing<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n457<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n509<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal revenues, less transaction-based expenses<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,896<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,899<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Operating expenses:<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCompensation and benefits<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n352<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n359<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProfessional services<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n28<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n34<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAcquisition-related transaction and integration costs<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n21<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTechnology and communication<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n172<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n175<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRent and occupancy<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n20<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n21<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSelling, general and administrative<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n74<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n55<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation and amortization<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n260<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n254<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal operating expenses<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n927<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n907<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating income<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n969<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n992<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther income\/(expense):<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest income<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n91<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest expense<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(176<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(103<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther expense, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(35<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(58<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther income\/(expense), net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(120<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(160<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome before income tax expense<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n849<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n832<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome tax expense<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n175<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n165<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Net income<\/b><\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n674<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n667<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet income attributable to non-controlling interest<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(19<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(10<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n Net income attributable to Intercontinental Exchange, Inc.<\/b><\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n655<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n657<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEarnings per share attributable to Intercontinental Exchange, Inc. common stockholders:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBasic<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.17<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.17<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDiluted<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.17<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.16<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nWeighted average common shares outstanding:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBasic<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n559<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n561<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDiluted<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n561<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n564<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Consolidated Balance Sheets<\/b><\/p>\n
(In millions)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n\u00a0<\/p>\n<\/td>\n
\n As of<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n March 31, 2023<\/b><\/p>\n<\/td>\n
\n As of<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n (Unaudited)<\/b><\/p>\n<\/td>\n
\n December 31, 2022<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Assets:<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent assets:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash and cash equivalents<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n2,069<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,799<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShort-term restricted cash and cash equivalents<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6,145<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6,149<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash and cash equivalent margin deposits and guaranty funds<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n102,072<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n141,990<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInvested deposits, delivery contracts receivable and unsettled variation margin<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,897<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,382<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCustomer accounts receivable, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,650<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,169<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses and other current assets<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n503<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n458<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current assets<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n114,336<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n156,947<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProperty and equipment, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,727<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,767<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther non-current assets:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGoodwill<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n21,120<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n21,111<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther intangible assets, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n12,946<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n13,090<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term restricted cash and cash equivalents<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n405<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n405<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther non-current assets<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,016<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,018<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal other non-current assets<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n35,487<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n35,624<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal assets<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n151,550<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n194,338<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Liabilities and Equity:<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent liabilities:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable and accrued liabilities<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n949<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n866<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSection 31 fees payable<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n118<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n223<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccrued salaries and benefits<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n146<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n352<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred revenue<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n562<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n170<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShort-term debt<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nMargin deposits and guaranty funds<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n102,072<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n141,990<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInvested deposits, delivery contracts payable and unsettled variation margin<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,897<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,382<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther current liabilities<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n262<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n184<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current liabilities<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n106,006<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n149,171<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNon-current liabilities:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNon-current deferred tax liability, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,409<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,493<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term debt<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n18,123<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n18,118<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccrued employee benefits<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n157<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n160<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNon-current operating lease liability<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n233<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n254<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther non-current liabilities<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n411<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n381<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal non-current liabilities<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n22,333<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n22,406<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n128,339<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n171,577<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n Equity:<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIntercontinental Exchange, Inc. stockholders\u2019 equity:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCommon stock<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTreasury stock, at cost<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(6,274<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(6,225<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdditional paid-in capital<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n14,388<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n14,313<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRetained earnings<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n15,362<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n14,943<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccumulated other comprehensive loss<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(315<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(331<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal Intercontinental Exchange, Inc. stockholders\u2019 equity<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n23,167<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n22,706<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNon-controlling interest in consolidated subsidiaries<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n44<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n55<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal equity<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n23,211<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n22,761<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities and equity<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n151,550<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n194,338<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Non-GAAP Financial Measures and Reconciliation<\/b><\/p>\n
\nWe use non-GAAP measures internally to evaluate our performance and in making financial and operational decisions. When viewed in conjunction with our GAAP results and the accompanying reconciliation, we believe that our presentation of these measures provides investors with greater transparency and a greater understanding of factors affecting our financial condition and results of operations than GAAP measures alone. In addition, we believe the presentation of these measures is useful to investors for period-to-period comparison of results because the items described below as adjustments to GAAP are not reflective of our core business performance. These financial measures are not in accordance with, or an alternative to, GAAP financial measures and may be different from non-GAAP measures used by other companies. We use these adjusted results because we believe they more clearly highlight trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures, since these measures eliminate from our results specific financial items that have less bearing on our core operating performance. We strongly recommend that investors review the GAAP financial measures and additional non-GAAP information included in our Quarterly Report on Form 10-Q, including our consolidated financial statements and the notes thereto.<\/p>\n
\nAdjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income attributable to ICE common stockholders, adjusted diluted earnings per share and adjusted free cash flow for the periods presented below are calculated by adding or subtracting the adjustments described below, which are not reflective of our cash operations and core business performance, and their related income tax effect and other tax adjustments (in millions, except for per share amounts):<\/p>\n
\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Adjusted Operating Income, Operating Margin and Operating Expense Reconciliation<\/b><\/p>\n
(In millions)<\/b><\/p>\n
(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n\u00a0<\/p>\n<\/td>\n
\n Exchanges
\n
Segment<\/b><\/p>\n<\/td>\n\n \n\u00a0<\/p>\n<\/td>\n
\n Fixed Income
\n
and Data
\n
Services
\n
Segment<\/b><\/p>\n<\/td>\n\n \n\u00a0<\/p>\n<\/td>\n
\n Mortgage
\n
Technology
\n
Segment<\/b><\/p>\n<\/td>\n\n \n\u00a0<\/p>\n<\/td>\n
\n Consolidated<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n Three Months Ended<\/b><\/p>\n
March 31,<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Three Months Ended<\/b><\/p>\n
March 31,<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Three Months Ended<\/b><\/p>\n
March 31,<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n Three Months Ended<\/b><\/p>\n
March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n 2023<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2022<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2023<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2022<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2023<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2022<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2023<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal revenues, less transaction-based expenses<\/p>\n<\/td>\n
\n \n$1,097<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1,083<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$563<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$509<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$236<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$307<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1,896<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1,899<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating expenses<\/p>\n<\/td>\n
\n \n332<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n299<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n343<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n354<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n252<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n254<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n927<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n907<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLess: Amortization of acquisition-related intangibles<\/p>\n<\/td>\n
\n \n16<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n16<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n42<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n49<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n92<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n88<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n150<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n153<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLess: Transaction and integration costs<\/p>\n<\/td>\n
\n \n12<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n21<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLess: Other<\/p>\n<\/td>\n
\n \n16<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n16<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted operating expenses<\/p>\n<\/td>\n
\n \n$288<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$283<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$301<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$305<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$151<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$158<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$740<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$746<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating income\/(loss)<\/p>\n<\/td>\n
\n \n$765<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$784<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$220<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$155<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$(16)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$53<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$969<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$992<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted operating income<\/p>\n<\/td>\n
\n \n$809<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$800<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$262<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$204<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$85<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$149<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1,156<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$1,153<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating margin<\/p>\n<\/td>\n
\n \n70%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n72%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n39%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n30%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(7)%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n17%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n51%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n52%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted operating margin<\/p>\n<\/td>\n
\n \n74%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n74%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n47%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n40%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n36%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n49%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n61%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n61%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Adjusted Net Income Attributable to ICE and Diluted EPS<\/b><\/p>\n
(In millions)<\/b><\/p>\n
(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n\u00a0<\/p>\n<\/td>\n
\n Three Months Ended
\n
March 31, 2023<\/b><\/p>\n<\/td>\n\n \n\u00a0<\/p>\n<\/td>\n
\n Three Months Ended
\n
March 31, 2022<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \nNet income attributable to ICE<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n655<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n657<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdd: Amortization of acquisition-related intangibles<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n150<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n153<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdd: Transaction and integration costs<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n21<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLess: Net interest income on pre-acquisition-related debt<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(6<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdd: Net losses from unconsolidated investees<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n35<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n42<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdd: Other<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n16<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLess: Income tax effect for the above items<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(57<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(58<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdd\/(Less): Deferred tax adjustments on acquisition-related intangibles<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(7<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLess: Other tax adjustments<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(24<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted net income attributable to ICE<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n791<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n804<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDiluted earnings per share<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.17<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.16<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdjusted diluted earnings per share<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.41<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.43<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDiluted weighted average common shares outstanding<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n561<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n564<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
- \nICE’s second quarter 2023 GAAP non-operating expense(2)<\/sup> is expected to be in the range of $105 million to $110 million. Adjusted non-operating expense is expected to be in the range of $85 million to $90 million.<\/p>\n<\/li>\n
- \nICE’s second quarter 2023 GAAP operating expenses are expected to be in a range of $905 millionto $915 million. Adjusted operating expenses(1)<\/sup> are expected to be in a range of $763 million to $773 million.<\/p>\n<\/li>\n
- 1Q23 GAAP diluted earnings per share (EPS) of $1.17<\/b><\/li>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20230504005500\/en\/1783880\/3\/ICE_logo_rgb.jpg\"){kind=logo}
<\/td>\n<\/tr>\n