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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Total revenues $ 993.5 $ 816.8 $ 2,953.8 $ 2,628.4
Cost of revenues:        
Total cost of revenues 551.1 447.3 1,669.2 1,542.8
Revenues less cost of revenues 442.4 369.5 1,284.6 1,085.6
Operating expenses:        
Compensation and benefits 102.0 74.0 269.4 214.0
Depreciation and amortization 41.0 42.8 122.1 125.4
Technology support services 19.1 16.7 56.4 50.1
Professional fees and outside services 20.4 24.0 64.2 62.0
Travel and promotional expenses 6.1 2.3 14.5 5.8
Facilities costs 6.2 5.8 19.3 16.5
Acquisition-related costs 1.6 6.7 17.9 11.9
Goodwill impairment 0.8   460.9  
Other expenses 8.4 6.5 20.8 14.6
Total operating expenses 205.6 178.8 1,045.5 500.3
Operating income 236.8 190.7 239.1 585.3
Non-operating (expenses) income:        
Interest expense, net (15.3) (11.7) (40.7) (36.3)
Other income (expense), net 7.5 (5.2) (1.3) (3.1)
Income before income tax provision 229.0 173.8 197.1 545.9
Income tax provision 78.8 53.4 121.8 182.8
Net income 150.2 120.4 75.3 363.1
Net income allocated to participating securities (0.6) (0.4) (0.6) (1.1)
Net income allocated to common stockholders $ 149.6 $ 120.0 $ 74.7 $ 362.0
Basic earnings per share (in dollars per share) $ 1.41 $ 1.12 $ 0.70 $ 3.38
Diluted earnings per share (in dollars per share) $ 1.41 $ 1.12 $ 0.70 $ 3.38
Basic weighted average shares outstanding (in shares) 106.2 106.8 106.4 107.0
Diluted weighted average shares outstanding (in shares) 106.4 107.0 106.6 107.2
Cash and spot markets        
Revenues:        
Total revenues $ 434.2 $ 357.3 $ 1,354.6 $ 1,278.9
Data and access solutions        
Revenues:        
Total revenues 126.1 110.3 368.9 313.9
Derivatives markets        
Revenues:        
Total revenues 433.2 349.2 1,230.3 1,035.6
Liquidity payments        
Cost of revenues:        
Total cost of revenues 392.3 375.3 1,288.8 1,255.0
Routing and clearing        
Cost of revenues:        
Total cost of revenues 20.2 19.0 63.4 66.0
Section 31 fees        
Cost of revenues:        
Total cost of revenues 105.4 27.9 220.7 148.6
Royalty fees and other cost of revenues        
Cost of revenues:        
Total cost of revenues $ 33.2 $ 25.1 $ 96.3 $ 73.2