XML 46 R33.htm IDEA: XBRL DOCUMENT v3.22.1
Deferred Revenue (Tables)
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Changes in Deferred Revenue The changes in our deferred revenue during the three months ended March 31, 2022 are reflected in the following table: 
 
Balance at December 31, 2021
AdditionsRevenue RecognizedAdjustments
Balance at March 31, 2022
(in millions)
Market Technology$117 $53 $(57)$(2)$111 
Investment Intelligence106 61 (41)— 126 
Corporate Platforms:
Initial Listing145 16 (19)(1)141 
Annual Listings2 267 — 1 270 
IR & ESG Services57 30 (24)— 63 
Other21 8 (4)(1)24 
Total$448 $435 $(145)$(3)$735 
In the preceding table:
•Revenue recognized includes revenue recognized during the current period that was included in the beginning balance.
•Adjustments reflect foreign currency translation adjustments.
•Other primarily includes deferred revenue from non-U.S. listing of additional shares fees. Listing of additional shares fees are included in our Listing Services business.
Estimated Deferred Revenue
As of March 31, 2022, we estimate that our deferred revenue will be recognized in the following years:
Fiscal year ended:
202220232024202520262027+Total
(in millions)
Market Technology $101 $8 $1 $1 $— $— $111 
Investment Intelligence115 11 — — — — 126 
Corporate Platforms:
Initial Listings37 37 27 18 15 7 141 
Annual Listings270 — — — — — 270 
IR & ESG Services 60 3 — — — — 63 
Other11 6 5 2 — — 24 
Total$594 $65 $33 $21 $15 $7 $735