Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Revenue Recognition

The following table depicts the disaggregation of our revenues according to business line and segment (in millions). Amounts here have been aggregated as they follow consistent revenue recognition patterns, and are consistent with the segment information in Note 15:

	Exchanges Segment		Fixed Income and Data Services Segment		Mortgage Technology Segment		Total Consolidated
Three Months Ended March 31, 2024:
Total revenues (1)	$	1,734	$	568	$	499	$	2,801
Transaction-based expenses	511		—		—		511
Total revenues, less transaction-based expenses	$	1,223	$	568	$	499	$	2,290
Timing of Revenue Recognition
Services transferred at a point in time	$	742	$	111	$	106	$	959
Services transferred over time	481		457		393		1,331
Total revenues, less transaction-based expenses	$	1,223	$	568	$	499	$	2,290

(1)    Included in total revenues is revenue related to net interest income earned on cash margin received from clearing members at certain ICE clearing houses. These amounts were $24 million and $38 million recorded in Exchanges and Fixed Income and Data Services segments, respectively.

	Exchanges Segment		Fixed Income and Data Services Segment		Mortgage Technology Segment		Total Consolidated
Three Months Ended March 31, 2023:
Total revenues (1)	$	1,673	$	563	$	236	$	2,472
Transaction-based expenses	576		—		—		576
Total revenues, less transaction-based expenses	$	1,097	$	563	$	236	$	1,896
Timing of Revenue Recognition
Services transferred at a point in time	$	635	$	123	$	67	$	825
Services transferred over time	462		440		169		1,071
Total revenues, less transaction-based expenses	$	1,097	$	563	$	236	$	1,896

(1)    Included in total revenues is revenue related to net interest income earned on cash margin received from clearing members at certain ICE clearing houses. These amounts were $24 million and $37 million recorded in Exchanges and Fixed Income and Data Services segments, respectively.

The components of services transferred over time for each of our segments are as follows:

	Three Months Ended March 31,
	2024		2023
Exchanges Segment:
Data services revenues	$	235	$	232
Services transferred over time related to risk management of open interest performance obligations	93		76
Services transferred over time related to listings	122		126
Services transferred over time related to regulatory fees, trading permits, and software licenses	31		28
Total	$	481	$	462
Fixed Income Data Services Segment:
Data services revenues	$	449	$	430
Services transferred over time related to risk management of open interest performance obligations in our CDS business	8		10
Total	$	457	$	440
Mortgage Technology Segment:
Recurring revenues	$	390	$	165
Other	3		4
Total	$	393	$	169
Total consolidated revenues transferred over time	$	1,331	$	1,071