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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Total revenues $ 1,414 $ 1,096 $ 4,165 $ 3,197
Transaction-based expenses:        
Revenues less transaction-based expenses 715 632 2,115 1,889
Operating expenses:        
Compensation and benefits 198 175 582 518
Professional and contract services 38 31 96 99
Computer operations and data communications 39 33 109 98
Occupancy 29 24 80 72
General, administrative and other 13 40 99 95
Marketing and advertising 7 8 20 29
Depreciation and amortization 51 47 149 143
Regulatory 2 8 16 23
Merger and strategic initiatives 1 10 12 25
Restructuring charges 11 30 36 30
Total operating expenses 389 406 1,199 1,132
Operating income 326 226 916 757
Interest income 0 3 4 8
Interest expense (24) (29) (77) (97)
Net gain on divestiture of business 0 0 0 27
Other income 1 0 5 1
Net income from unconsolidated investees 54 15 97 71
Income before income taxes 357 215 945 767
Income tax provision 93 65 237 196
Net income attributable to Nasdaq $ 264 $ 150 $ 708 $ 571
Per share information:        
Basic earnings per share (in dollars per share) $ 1.61 $ 0.91 $ 4.31 $ 3.46
Diluted earnings per share (in dollars per share) 1.58 0.90 4.25 3.42
Cash dividends declared per common share (in dollars per share) $ 0.49 $ 0.47 $ 1.45 $ 1.38
Transaction rebates        
Transaction-based expenses:        
Transaction-based expenses $ (518) $ (349) $ (1,526) $ (1,012)
Brokerage, clearance and exchange fees        
Transaction-based expenses:        
Transaction-based expenses (181) (115) (524) (296)
Operating Segments | Market Services        
Revenues:        
Total revenues 958 690 2,867 1,995
Transaction-based expenses:        
Revenues less transaction-based expenses 259 226 817 687
Operating expenses:        
Operating income 154 129 509 392
Operating Segments | Corporate Services        
Revenues:        
Total revenues 132 124 386 368
Transaction-based expenses:        
Revenues less transaction-based expenses 132 124 386 368
Operating expenses:        
Operating income 51 45 145 134
Operating Segments | Information Services        
Revenues:        
Total revenues 238 198 661 585
Operating Segments | Market Technology        
Revenues:        
Total revenues 86 84 251 239
Other Revenues        
Revenues:        
Total revenues $ 0 $ 0 $ 0 10
Transaction-based expenses:        
Revenues less transaction-based expenses       $ 10