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FAIR VALUE MEASUREMENT (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of fair value hierarchy for assets and liabilities measured at fair value on a recurring basis

The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 (in millions):


	September 30, 2024
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities (1)	$	0.5	$	0.5	$	—	$	—
Marketable securities (1):
Mutual funds	21.3		21.3		—		—
Money market funds	17.6		17.6		—		—
Note receivable - building sale (2)	6.4		—		—		6.4
Total assets	$	45.8	$	39.4	$	—	$	6.4


	December 31, 2023
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities (1)	$	20.8	$	20.8	$	—	$	—
Marketable securities (1):
Mutual funds	17.1		17.1		—		—
Money market funds	19.6		19.6		—		—
Digital assets - safeguarded assets	51.3		—		51.3		—
Total assets	$	108.8	$	57.5	$	51.3	$	—
Liabilities:
Contingent consideration liabilities	$	11.8	$	—	$	—	$	11.8
Digital assets - safeguarded liabilities	51.3		—		51.3		—
Cboe Digital restricted common units liability (3)	18.7		—		—		18.7
Cboe Digital warrant liability (3)	5.9		—		—		5.9
Total liabilities	$	87.7	$	—	$	51.3	$	36.4

___________________________

(1)These amounts are reflected within financial investments in the condensed consolidated balance sheets.

(2)This amount is reflected within other assets, net in the condensed consolidated balance sheets.

(3)These amounts are reflected within other non-current liabilities in the condensed consolidated balance sheets.

Schedule of fair value hierarchy for assets and liabilities measured on a nonrecurring basis

The following tables present the Company’s fair value hierarchy for certain assets and liabilities held by the Company as of September 30, 2024 and December 31, 2023 (in millions):


	September 30, 2024
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities (1)	$	0.5	$	0.5	$	—	$	—
Deferred compensation plan assets (1)	38.9		38.9		—		—
Note receivable - building sale (2)	6.4		—		—		6.4
Total assets	$	45.8	$	39.4	$	—	$	6.4
Liabilities:

Deferred compensation plan liabilities (4)	$	38.9	$	38.9	$	—	$	—
Debt (5)	1,346.6		—		1,346.6		—
Total liabilities	$	1,385.5	$	38.9	$	1,346.6	$	—


	December 31, 2023
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities (1)	$	20.8	$	20.8	$	—	$	—
Deferred compensation plan assets (1)	36.7		36.7		—		—
Digital assets - safeguarded assets	51.3		—		51.3		—
Digital assets held (3,5)	0.1		0.1		—		—
Total assets	$	108.9	$	57.6	$	51.3	$	—
Liabilities:
Contingent consideration liabilities	$	11.8	$	—	$	—	$	11.8
Deferred compensation plan liabilities (4)	36.7		36.7		—		—
Digital assets - safeguarded liabilities	51.3		—		51.3		—
Cboe Digital restricted common units liability (4)	18.7		—		—		18.7
Cboe Digital warrant liability (4)	5.9		—		—		5.9
Debt (5)	1,305.7		—		1,305.7		—
Total liabilities	$	1,430.1	$	36.7	$	1,357.0	$	36.4

___________________________

(1)These amounts are reflected within financial investments in the condensed consolidated balance sheets.

(2)This amount is reflected within other assets, net in the condensed consolidated balance sheets.

(3)These amounts are reflected within intangible assets, net in the condensed consolidated balance sheets.

(4)These amounts are reflected within other non-current liabilities in the condensed consolidated balance sheets.

(5)These balances are presented at fair value in this table, but are carried at their historical value within the condensed consolidated balance sheets.

Schedule of fair value of debt obligation

At September 30, 2024 and December 31, 2023, the fair values of the Company’s debt obligations were as follows (in millions):


	Fair Value
	September 30, 2024		December 31, 2023
3.650% Senior Notes	$	643.8	$	628.5
1.625% Senior Notes	430.0		412.7
3.000% Senior Notes	272.8		264.5

Summary of changes in the fair value of Level 3 financial assets

The following table sets forth a summary of changes in the fair value of the Company’s Level 3 financial assets and liabilities during the three and nine months ended September 30, 2024 (in millions):


	Level 3 Financial Assets and Liabilities for the Three Months Ended September 30, 2024
	Balance at Beginning of Period		Realized (Losses) Gains during Period		Adjustments		Additions		Settlements		Foreign Currency Translation		Balance at End of Period
Assets:
Note receivable - building sale	$	6.4	$	—	$	—	$	—	$	—	$	—	$	6.4
Total assets	$	6.4	$	—	$	—	$	—	$	—	$	—	$	6.4


	Balance at Beginning of Period		Realized Losses (Gains) during Period		Adjustments		Additions		Settlements		Foreign Currency Translation		Balance at End of Period
Liabilities:
Contingent consideration liabilities	$	1.8	$	(1.0)	$	—	$	—	$	(0.9)	$	0.1	$	—


Total liabilities	$	1.8	$	(1.0)	$	—	$	—	$	(0.9)	$	0.1	$	—


	Level 3 Financial Assets and Liabilities for the Nine Months Ended September 30, 2024
	Balance at Beginning of Period		Realized (Losses) Gains during Period		Adjustments		Additions		Settlements		Foreign Currency Translation		Balance at End of Period
Assets:
Note receivable - building sale	$	—	$	(0.6)	$	—	$	7.0	$	—	$	—	$	6.4
Total assets	$	—	$	(0.6)	$	—	$	7.0	$	—	$	—	$	6.4


	Balance at Beginning of Period		Realized Losses (Gains) during Period		Adjustments		Additions		Settlements		Foreign Currency Translation		Balance at End of Period
Liabilities:
Contingent consideration liabilities	$	11.8	$	2.0	$	—	$	—	$	(13.9)	$	0.1	$	—
Cboe Digital restricted common units liability	18.7		(1.0)		(12.1)		—		(5.6)		—		—
Cboe Digital warrant liability	5.9		(1.4)		(4.1)		—		(0.4)		—		—
Total liabilities	$	36.4	$	(0.4)	$	(16.2)	$	—	$	(19.9)	$	0.1	$	—

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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