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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Total revenues $ 4,094.5 $ 3,773.5 $ 3,958.5
Cost of revenues:      
Total cost of revenues 2,022.1 1,855.5 2,216.8
Revenues less cost of revenues 2,072.4 1,918.0 1,741.7
Operating expenses:      
Compensation and benefits 462.4 425.8 363.0
Depreciation and amortization 133.0 158.0 166.8
Technology support services 102.8 99.7 77.7
Professional fees and outside services 94.8 92.0 89.0
Travel and promotional expenses 45.8 37.6 23.7
Facilities costs 24.6 25.7 25.1
Acquisition-related costs 1.3 7.4 19.9
Impairment of goodwill 0.0 0.0 460.9
Impairment of intangible assets 81.0 0.0 0.0
Other expenses 28.3 13.9 26.0
Total operating expenses 974.0 860.1 1,252.1
Operating income 1,098.4 1,057.9 489.6
Non-operating (expenses) income:      
Interest expense (51.5) (62.4) (60.0)
Interest income 27.3 12.0 3.6
Earnings on investments 29.0 39.5 7.2
Other (expense) income, net (19.4) 0.6 (7.5)
Income before income tax provision 1,083.8 1,047.6 432.9
Income tax provision 318.9 286.2 197.9
Net income 764.9 761.4 235.0
Net income allocated to participating securities (3.9) (3.9) (0.9)
Net income allocated to common stockholders 761.0 757.5 234.1
Net income allocated to common stockholders $ 761.0 $ 757.5 $ 234.1
Basic earnings per share (in dollars per share) $ 7.24 $ 7.16 $ 2.20
Diluted earnings per share (in dollars per share) $ 7.21 $ 7.13 $ 2.19
Basic weighted average shares outstanding (in shares) 105.1 105.8 106.3
Diluted weighted average shares outstanding (in shares) 105.5 106.2 106.7
Cash and spot markets      
Revenues:      
Total revenues $ 1,670.0 $ 1,445.1 $ 1,777.6
Data Vantage      
Revenues:      
Total revenues 576.6 539.2 497.0
Derivatives markets      
Revenues:      
Total revenues 1,847.9 1,789.2 1,683.9
Liquidity payments      
Cost of revenues:      
Total cost of revenues 1,329.1 1,385.8 1,670.2
Routing and clearing      
Cost of revenues:      
Total cost of revenues 68.3 79.1 83.2
Section 31 fees      
Cost of revenues:      
Total cost of revenues 391.4 185.7 329.8
Royalty fees and other cost of revenues      
Cost of revenues:      
Total cost of revenues $ 233.3 $ 204.9 $ 133.6