Earnings Per Common Share

12 Months Ended

Dec. 31, 2023

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations in 2023, 2022 and 2021 (in millions, except per share amounts):


	Year Ended December 31,
	2023		2022		2021
Basic:
Net income attributable to Intercontinental Exchange, Inc.	$	2,368	$	1,446	$	4,058
Weighted average common shares outstanding	564		559		562
Basic earnings per common share	$	4.20	$	2.59	$	7.22
Diluted:
Weighted average common shares outstanding	564		559		562
Effect of dilutive securities - stock options and restricted stock	1		2		3
Diluted weighted average common shares outstanding	565		561		565
Diluted earnings per common share	$	4.19	$	2.58	$	7.18

Basic earnings per common share is calculated using the weighted average common shares outstanding during the periods. Changes in the weighted average common shares outstanding between years was primarily due to stock repurchases and the Black Knight acquisition in 2023.

Common equivalent shares from stock options and restricted stock awards, calculated using the treasury stock method, are included in the diluted per share calculations unless the effect of their inclusion would be antidilutive. During 2023, 2022 and 2021 outstanding stock options of 791,000, 531,000 and 281,000, respectively, were not included in the computation of diluted earnings per common share because to do so would have had an antidilutive effect. As of December 31, 2023 and 2022, there were 4,000 and 50,000, respectively, restricted stock units that were vested but have not been issued that are included in the computation of diluted earnings per share. Certain figures in the table above may not recalculate due to rounding.