Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

The following is a summary of the activity in our goodwill balance by segment (in millions):

	Exchanges Segment		Fixed Income and Data Services Segment		Mortgage Technology Segment		Total Consolidated
Goodwill balance at January 1, 2023	$	8,134	$	4,850	$	8,127	$	21,111
Acquisitions	—		—		9,417		9,417
Foreign currency translation	21		3		—		24
Other activity, net	—		1		—		1
Goodwill balance at December 31, 2023	$	8,155	$	4,854	$	17,544	$	30,553
Acquisitions	—		—		39		39
Foreign currency translation	(19)		(1)		(1)		(21)
Other activity, net	—		—		24		24
Goodwill balance at December 31, 2024	$	8,136	$	4,853	$	17,606	$	30,595

The following is a summary of the activity in our other intangible assets balance (in millions):

Other intangible assets balance at January 1, 2023	$	13,090
Acquisitions	4,953
Foreign currency translation	21
Amortization of other intangible assets	(749)
Other activity, net	2
Other intangible assets balance at December 31, 2023	$	17,317
Acquisitions	21
Foreign currency translation	(20)
Amortization of other intangible assets	(1,012)
Other intangible assets balance at December 31, 2024	$	16,306

Other intangible assets and the related accumulated amortization consisted of the following (in millions):

	As of December 31, 2024						As of December 31, 2023
	Gross		Accumulated Amortization		Net Book Value		Gross		Accumulated Amortization		Net Book Value
Finite-lived intangible assets:
Customer relationships	$	10,874	$	(3,299)	$	7,575	$	10,870	$	(2,641)	$	8,229
Technology	2,549		(1,191)		1,358		2,497		(934)		1,563
Trading products with finite lives	202		(149)		53		205		(141)		64
Data and databases	746		(230)		516		745		(170)		575
Trademarks and trade names	386		(87)		299		386		(67)		319
Other	51		(43)		8		51		(42)		9
Total finite-lived intangible assets	14,808		(4,999)		9,809		14,754		(3,995)		10,759
Indefinite-lived intangible assets:
Exchange registrations, licenses and contracts with indefinite lives	6,209		—		$	6,209	6,223		—		6,223
Trademarks and trade names with indefinite lives	280		—		$	280	280		—		280
In-process research and development	—		—		$	—	47		—		47
Other	8		—		$	8	8		—		8
Total indefinite-lived intangible assets	6,497		—		6,497		6,558		—		6,558
Total other intangible assets	$	21,305	$	(4,999)	$	16,306	$	21,312	$	(3,995)	$	17,317

Schedule of Future Amortization Expense

We expect future amortization expense from the finite-lived intangible assets as of December 31, 2024 to be as follows (in millions):

2025	$	991
2026	943
2027	897
2028	800
2029	766
Thereafter	5,412
	$	9,809