The following table depicts the disaggregation of our revenue according to business line and segment (in millions) prior to our adoption of ASC 606; as such, the segment totals here are consistent with the segment totals in Note 17:



	Trading & Clearing Segment		Data & Listings Segment		Total Consolidated
Year ended December 31, 2017
Transaction and clearing, net	$	3,131	$	—	$	3,131
Data services	—		2,084		2,084
Listings	—		417		417
Other revenues	202		—		202
Total revenues	3,333		2,501		5,834
Transaction-based expenses	1,205		—		1,205
Total revenues, less transaction-based expenses	$	2,128	$	2,501	$	4,629

Timing of Revenue Recognition
Services transferred at a point in time	$	1,897	$	—	$	1,897
Services transferred over time	231		2,501		2,732
Total revenues, less transaction-based expenses	$	2,128	$	2,501	$	4,629



	Trading & Clearing Segment		Data & Listings Segment		Total Consolidated
Year ended December 31, 2016
Transaction and clearing, net	$	3,384	$	—	$	3,384
Data services	—		1,978		1,978
Listings	—		419		419
Other revenues	177		—		177
Total revenues	3,561		2,397		5,958
Transaction-based expenses	1,459		—		1,459
Total revenues, less transaction-based expenses	$	2,102	$	2,397	$	4,499

Timing of Revenue Recognition
Services transferred at a point in time	$	1,874	$	—	$	1,874
Services transferred over time	228		2,397		2,625
Total revenues, less transaction-based expenses	$	2,102	$	2,397	$	4,499



	Trading & Clearing Segment		Data & Listings Segment		Total Consolidated
Year ended December 31, 2015
Transaction and clearing, net	$	3,228	$	—	$	3,228
Data services	—		871		871
Listings	—		405		405
Other revenues	178		—		178
Total revenues	3,406		1,276		4,682
Transaction-based expenses	1,344		—		1,344
Total revenues, less transaction-based expenses	$	2,062	$	1,276	$	3,338

Timing of Revenue Recognition
Services transferred at a point in time	$	1,841	$	—	$	1,841
Services transferred over time	221		1,276		1,497
Total revenues, less transaction-based expenses	$	2,062	$	1,276	$	3,338