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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income $ 4,069 $ 2,108 $ 1,960
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,009 751 662
Stock-based compensation 188 139 139
Deferred taxes 537 92 (33)
Gain on deconsolidation of Bakkt (1,419) 0 0
Gain on sale of Coinbase investment (1,227) 0 0
Gain on equity investments (34) (55) 0
Net losses/(income) from unconsolidated investees 42 (71) (62)
Other 45 46 22
Changes in assets and liabilities:      
Customer accounts receivable (5) (149) (30)
Other current and non-current assets (100) (83) (17)
Section 31 fees payable (150) 69 34
Deferred revenue 34 2 (18)
Other current and non-current liabilities 134 32 2
Total adjustments (946) 773 699
Net cash provided by operating activities 3,123 2,881 2,659
Investing activities:      
Capital expenditures (179) (207) (153)
Capitalized software development costs (273) (203) (152)
Cash paid for acquisitions, net of cash acquired (66) (9,446) (352)
Return of capital from equity method investment 0 0 60
Purchase of equity method investment (117) 0 0
Proceeds from the sale of Coinbase investment 1,237 0 0
Proceeds from other investments, net 1 4 9
Purchases of invested margin deposits (5,050) (3,371) (1,890)
Proceeds from sale of invested margin deposits 3,661 2,840 744
Other 0 22 (6)
Net cash used in investing activities (786) (10,361) (1,740)
Financing activities:      
Proceeds from debt facilities, net 0 9,606 10
Repayments of debt facilities (1,246) (2,004) 0
Proceeds from/(redemption of) commercial paper, net (1,393)    
Proceeds from/(redemption of) commercial paper, net   1,094 360
Repurchases of common stock (250) (1,247) (1,460)
Dividends to stockholders (747) (669) (621)
Change in cash and cash equivalent margin deposits and guaranty funds 65,697 19,256 1,329
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises (70) (74) (65)
Other 35 38 23
Net cash provided by (used in) financing activities 62,026 26,000 (424)
Effect of exchange rate changes on cash, cash equivalents, restricted cash and cash equivalents, and cash and cash equivalent margin deposits and guaranty funds (6) 8 4
Net increase in cash, cash equivalents, restricted cash and cash equivalents, and cash and cash equivalent margin deposits and guaranty funds 64,357 18,528 499
Cash, cash equivalents, restricted cash and cash equivalents and cash and cash equivalent margin deposits and guaranty funds at beginning of year 83,619 65,091 64,592
Cash, cash equivalents, restricted cash and cash equivalents and cash and cash equivalent margin deposits and guaranty funds at end of year 147,976 83,619 65,091
Supplemental cash flow disclosures:      
Common stock issued for acquisition 0 1,895 0
Cash paid for income taxes 1,057 642 557
Cash paid for interest $ 406 $ 298 $ 280