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Acquisitions and Divestitures (Tables) | 12 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Acquisitions and Estimated Net Fair Value of the Consideration | The net fair value of the consideration transferred for Black Knight was approximately $11.4 billion as of the acquisition date, which consisted of the following (in millions):
| Transaction Consideration
Cash | $ | 10,542 |
ICE common stock* | 1,274 |
Converted vested Black Knight awards | 22 |
Total purchase price | $ | 11,838 |
Less: Divestitures | (476) |
Total net purchase price | $ | 11,362 |
* Fair value of the ICE common stock was based on the ICE closing stock price on September 1, 2023, the last business day prior to the closing of the Black Knight acquisition.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The net purchase price allocation is as follows (in millions):
| Net Purchase Price Allocation
Cash and cash equivalents | $ | 108 |
Property and equipment | 120 |
Goodwill | 9,441 |
Identifiable intangibles | 4,948 |
Debt acquired | (2,397) |
Other assets and liabilities, net | 25 |
Deferred tax liabilities on identifiable intangibles | (1,270) |
Other deferred tax assets | 387 |
Net purchase price | $ | 11,362 |
Schedule of Components of the Preliminary Intangible Assets Associated with the Acquisition | The following table sets forth the components of the intangible assets associated with the acquisition as of December 31, 2024 (in millions, except years):
| Acquisition-Date Fair Value |  | Weighted average life (Years)
Developed Technology | $ | 1,176 |  |  | 10
Trademarks and Trade names | 159 |  |  | 19
Customer Relationships | 3,034 |  |  | 13
Data and Databases | 579 |  |  | 10
Total | $ | 4,948 |  |  | 12
Schedule of Business Acquisition, Pro Forma Information | The unaudited pro forma financial information does not reflect any synergies or operating cost reductions that have been and may be achieved from the combined operations (in millions).
| Year Ended December 31,
| 2023 |  | 2022
Total revenues, less transaction-based expenses | $ | 8,735 |  |  | $ | 8,416 |
Net income attributable to ICE | $ | 2,128 |  |  | $ | 1,110 |

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