XML 41 R27.htm IDEA: XBRL DOCUMENT v3.24.0.1
Earnings Per Share
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The company uses the two-class method to calculate basic and diluted earnings per common share because its Series G preferred stock are participating securities. Under the two-class method, undistributed earnings are allocated to common stock and participating securities according to their respective rights in undistributed earnings, as if all of the earnings for the period
had been distributed. Basic earnings per common share is computed by dividing the net income attributable to common shareholders by the weighted average number of common shares outstanding during the period. Net income attributable to common shareholders is reduced for preferred stock dividends earned during the period. Series G preferred stock also receives a proportionate allocation of undistributed or overdistributed earnings for the period because Series G preferred stock has a contractual obligation to share in profits and losses of the company. Diluted earnings per share is computed by dividing the net income attributable to common shareholders by the weighted average number of common shares outstanding plus potentially dilutive common shares.
Anti-dilutive stock awards were as follows for the years presented:
(in thousands)202320222021
Stock awards455 158 86 
Total455 158 86 
The following table presents the earnings per share calculation for the years presented:
202320222021
Net Income Attributable to CME Group (in millions)$3,226.2 $2,691.0 $2,636.4 
Less: Preferred stock dividends(44.2)(38.9)(19.0)
Less: (Undistributed earnings) overdistributed earnings allocated to preferred stock3.6 5.1 (0.3)
Net Income Attributable to Common Shareholders of CME Group$3,185.6 $2,657.2 $2,617.1 
Weighted Average Common Shares Outstanding (in thousands):
Basic359,023 358,713 358,340 
Effect of stock options and stock awards 477 468 589 
Diluted359,500 359,181 358,929 
Earnings per Common Share Attributable to Common Shareholders of CME Group:
Basic$8.87 $7.41 $7.30 
Diluted8.86 7.40 7.29