XML 16 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Total revenues $ 667.5 $ 640.8 $ 1,445.2 $ 997.0
Cost of revenues:        
Total cost of revenues 384.0 373.9 833.2 536.7
Revenues less cost of revenues 283.5 266.9 612.0 460.3
Operating expenses:        
Compensation and benefits 57.4 50.0 116.3 97.8
Depreciation and amortization 50.4 55.8 104.6 80.9
Technology support services 11.8 12.0 23.9 19.5
Professional fees and outside services 17.3 16.9 35.3 31.3
Travel and promotional expenses 3.5 4.2 7.2 7.5
Facilities costs 2.9 2.7 5.3 4.8
Acquisition-related costs 8.6 4.7 17.4 69.9
Other expenses 2.5 2.8 5.2 4.7
Total operating expenses 154.4 149.1 315.2 316.4
Operating income 129.1 117.8 296.8 143.9
Non-operating (expenses) income:        
Interest expense, net (9.3) (12.5) (18.9) (20.4)
Other income   0.8 1.3 0.9
Income before income tax provision 119.8 106.1 279.2 124.4
Income tax provision 36.8 38.1 78.1 41.2
Net income 83.0 68.0 201.1 83.2
Net loss attributable to redeemable noncontrolling interest 0.3 0.3 0.6 0.6
Net income excluding redeemable noncontrolling interest 83.3 68.3 201.7 83.8
Change in redemption value of redeemable noncontrolling interest (0.3) (0.3) (0.6) (0.6)
Net income allocated to participating securities (0.6) (0.7) (1.4) (0.8)
Net income allocated to common stockholders $ 82.4 $ 67.3 $ 199.7 $ 82.4
Basic earnings per share (in dollars per share) $ 0.74 $ 0.60 $ 1.78 $ 0.81
Diluted earnings per share (in dollars per share) $ 0.73 $ 0.60 $ 1.77 $ 0.81
Basic weighted average shares outstanding (in shares) 112.0 112.1 112.2 102.1
Diluted weighted average shares outstanding (in shares) 112.3 112.5 112.6 102.3
Transaction fees        
Revenues:        
Total revenues $ 464.8 $ 453.9 $ 1,011.9 $ 710.3
Access fees        
Revenues:        
Total revenues 31.2 29.7 59.8 47.5
Exchange services and other fees        
Revenues:        
Total revenues 21.0 19.9 43.0 35.3
Market data fees        
Revenues:        
Total revenues 52.5 48.0 106.7 70.5
Regulatory fees        
Revenues:        
Total revenues 89.3 83.3 205.6 121.6
Other revenue        
Revenues:        
Total revenues 8.7 6.0 18.2 11.8
Liquidity payments        
Cost of revenues:        
Total cost of revenues 271.1 266.5 574.0 371.8
Routing and clearing        
Cost of revenues:        
Total cost of revenues 9.8 12.2 20.1 18.5
Section 31 fees        
Cost of revenues:        
Total cost of revenues 81.1 74.6 189.9 104.6
Royalty fees        
Cost of revenues:        
Total cost of revenues $ 22.0 $ 20.6 $ 49.2 $ 41.8