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Revenue Recognition (Tables) | 9 Months Ended
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Sep. 30, 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
Nine Months Ended September 30, 2024: |  |  |  |  |  |  |
Total revenues (1) | $ | 5,498 |  |  | $ | 1,719 |  |  | $ | 1,514 |  |  | $ | 8,731 |
Transaction-based expenses | 1,775 |  |  | — |  |  | — |  |  | 1,775 |
Total revenues, less transaction-based expenses | $ | 3,723 |  |  | $ | 1,719 |  |  | $ | 1,514 |  |  | $ | 6,956 |
Timing of Revenue Recognition |  |  |  |  |  |  |
Services transferred at a point in time | $ | 2,261 |  |  | $ | 326 |  |  | $ | 338 |  |  | $ | 2,925 |
Services transferred over time | 1,462 |  |  | 1,393 |  |  | 1,176 |  |  | 4,031 |
Total revenues, less transaction-based expenses | $ | 3,723 |  |  | $ | 1,719 |  |  | $ | 1,514 |  |  | $ | 6,956 |
(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 $74 million and $105 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 September 30, 2024: |  |  |  |  |  |  |
Total revenues (1) | $ | 1,938 |  |  | $ | 586 |  |  | $ | 509 |  |  | $ | 3,033 |
Transaction-based expenses | 684 |  |  | — |  |  | — |  |  | 684 |
Total revenues, less transaction-based expenses | $ | 1,254 |  |  | $ | 586 |  |  | $ | 509 |  |  | $ | 2,349 |
Timing of Revenue Recognition |  |  |  |  |  |  |
Services transferred at a point in time | $ | 762 |  |  | $ | 114 |  |  | $ | 118 |  |  | $ | 994 |
Services transferred over time | 492 |  |  | 472 |  |  | 391 |  |  | 1,355 |
Total revenues, less transaction-based expenses | $ | 1,254 |  |  | $ | 586 |  |  | $ | 509 |  |  | $ | 2,349 |
(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 $27 million and $33 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
Nine Months Ended September 30, 2023: |  |  |  |  |  |  |
Total revenues (1) | $ | 4,754 |  |  | $ | 1,668 |  |  | $ | 815 |  |  | $ | 7,237 |
Transaction-based expenses | 1,450 |  |  | — |  |  | — |  |  | 1,450 |
Total revenues, less transaction-based expenses | $ | 3,304 |  |  | $ | 1,668 |  |  | $ | 815 |  |  | $ | 5,787 |
Timing of Revenue Recognition |  |  |  |  |  |  |
Services transferred at a point in time | $ | 1,902 |  |  | $ | 343 |  |  | $ | 240 |  |  | $ | 2,485 |
Services transferred over time | 1,402 |  |  | 1,325 |  |  | 575 |  |  | 3,302 |
Total revenues, less transaction-based expenses | $ | 3,304 |  |  | $ | 1,668 |  |  | $ | 815 |  |  | $ | 5,787 |
(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 $64 million and $118 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 September 30, 2023: |  |  |  |  |  |  |
Total revenues (1) | $ | 1,540 |  |  | $ | 559 |  |  | $ | 330 |  |  | $ | 2,429 |
Transaction-based expenses | 426 |  |  | — |  |  | — |  |  | 426 |
Total revenues, less transaction-based expenses | $ | 1,114 |  |  | $ | 559 |  |  | $ | 330 |  |  | $ | 2,003 |
Timing of Revenue Recognition |  |  |  |  |  |  |
Services transferred at a point in time | $ | 639 |  |  | $ | 114 |  |  | $ | 92 |  |  | $ | 845 |
Services transferred over time | 475 |  |  | 445 |  |  | 238 |  |  | 1,158 |
Total revenues, less transaction-based expenses | $ | 1,114 |  |  | $ | 559 |  |  | $ | 330 |  |  | $ | 2,003 |
(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 $20 million and $40 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:
| Nine Months Ended September 30, |  | Three Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Exchanges Segment: |  |  |  |  |  |  |
Data services revenues | $ | 717 |  |  | $ | 699 |  |  | $ | 242 |  |  | $ | 236 |
Services transferred over time related to risk management of open interest performance obligations | 281 |  |  | 229 |  |  | 94 |  |  | 78 |
Services transferred over time related to listings | 366 |  |  | 376 |  |  | 122 |  |  | 124 |
Services transferred over time related to regulatory fees, trading permits, and software licenses | 98 |  |  | 98 |  |  | 34 |  |  | 37 |
Total | $ | 1,462 |  |  | $ | 1,402 |  |  | $ | 492 |  |  | $ | 475 |
Fixed Income Data Services Segment: |  |  |  |  |  |  |
Data services revenues | $ | 1,367 |  |  | $ | 1,300 |  |  | $ | 461 |  |  | $ | 436 |
Services transferred over time related to risk management of open interest performance obligations in our CDS business | 26 |  |  | 25 |  |  | 11 |  |  | 9 |
Total | $ | 1,393 |  |  | $ | 1,325 |  |  | $ | 472 |  |  | $ | 445 |
Mortgage Technology Segment: |  |  |  |  |  |  |
Recurring revenues | $ | 1,164 |  |  | $ | 564 |  |  | $ | 387 |  |  | $ | 235 |
Other | 12 |  |  | 11 |  |  | 4 |  |  | 3 |
Total | $ | 1,176 |  |  | $ | 575 |  |  | $ | 391 |  |  | $ | 238 |
Total consolidated revenues transferred over time | $ | 4,031 |  |  | $ | 3,302 |  |  | $ | 1,355 |  |  | $ | 1,158 |

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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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