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FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2024 and 2023 (in millions):


	December 31, 2024
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities (1)	$	70.0	$	70.0	$	—	$	—
Marketable securities (1):
Mutual funds	23.8		23.8		—		—
Money market funds	16.5		16.5		—		—
Note receivable - building sale (2)	6.2		—		—		6.2
Total assets	$	116.5	$	110.3	$	—	$	6.2


	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

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

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

(3)These amounts are reflected within other non-current liabilities in the 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 December 31, 2024 and 2023 (in millions):


	December 31, 2024
	Total		Level 1		Level 2		Level 3
Assets:
U.S. Treasury securities (1)	$	70.0	$	70.0	$	—	$	—
Deferred compensation plan assets (1)	40.3		40.3		—		—
Note receivable - building sale (2)	6.2		—		—		6.2
Total assets	$	116.5	$	110.3	$	—	$	6.2
Liabilities:
Deferred compensation plan liabilities (4)	$	40.3	$	40.3	$	—	$	—
Debt (5)	1,317.0		—		1,317.0		—
Total liabilities	$	1,357.3	$	40.3	$	1,317.0	$	—


	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

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

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

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

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

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

Schedule of fair value of debt obligation

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


	Fair Value
	December 31, 2024		December 31, 2023
3.650% Senior Notes	$	638.4	$	628.5
1.625% Senior Notes	416.2		412.7
3.000% Senior Notes	262.4		264.5

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

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 year ended December 31, 2024 and 2023 (in millions):


	Level 3 Financial Assets and Liabilities for the Year Ended December 31, 2024
	Balance at Beginning of Period		(Losses) Gains during Period		Adjustments		Additions		Settlements		Foreign Currency Translation		Balance at End of Period
Assets:
Note receivable - building sale	$	—	$	(0.8)	$	—	$	7.0	$	—	$	—	$	6.2
Total assets	$	—	$	(0.8)	$	—	$	7.0	$	—	$	—	$	6.2

	Balance at Beginning of Period		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	$	—


	Level 3 Financial Assets and Liabilities for the Year Ended December 31, 2023
	Balance at Beginning of Period		(Gains) Losses during Period		Adjustments		Additions		Settlements		Foreign Currency Translation		Balance at End of Period
Liabilities:
Contingent consideration liabilities	$	39.1	$	(14.4)	$	—	$	—	$	(13.1)	$	0.2	$	11.8
Cboe Digital restricted common units liability	15.5		—		0.1		3.1		—		—		18.7
Cboe Digital warrant liability	5.9		—		—		—		—		—		5.9
Total liabilities	$	60.5	$	(14.4)	$	0.1	$	3.1	$	(13.1)	$	0.2	$	36.4