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Revenue Recognition (Tables)
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue Recognition
The following tables depict 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 14:
 Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Nine Months Ended September 30, 2025:
Total revenues (1)
$6,118 $1,811 $1,569 $9,498 
Transaction-based expenses2,071 — — 2,071 
Total revenues, less transaction-based expenses$4,047 $1,811 $1,569 $7,427 
Timing of Revenue Recognition
Services transferred at a point in time$2,494 $332 $376 $3,202 
Services transferred over time1,553 1,479 1,193 4,225 
Total revenues, less transaction-based expenses$4,047 $1,811 $1,569 $7,427 
(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 $76 million and $82 million recorded in our Exchanges and Fixed Income and Data Services segments, respectively.
Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Three Months Ended September 30, 2025:
Total revenues (1)
$1,861 $618 $528 $3,007 
Transaction-based expenses596 — — 596 
Total revenues, less transaction-based expenses$1,265 $618 $528 $2,411 
Timing of Revenue Recognition
Services transferred at a point in time$748 $112 $133 $993 
Services transferred over time517 506 395 1,418 
Total revenues, less transaction-based expenses$1,265 $618 $528 $2,411 
(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 $28 million recorded in our Exchanges and Fixed Income and Data Services segments, respectively.
 Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Nine Months Ended September 30, 2024:
Total revenues (1)
$5,498 $1,719 $1,514 $8,731 
Transaction-based expenses1,775 — — 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 time1,462 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 our Exchanges and Fixed Income and Data Services segments, respectively.
Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Three Months Ended September 30, 2024:
Total revenues (1)
$1,938 $586 $509 $3,033 
Transaction-based expenses684 — — 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 time492 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 our Exchanges and Fixed Income and Data Services segments, respectively.
The components of services transferred over time for each of our segments are as follows (in millions):
Nine Months Ended
September 30,
Three Months Ended September 30,
 2025202420252024
Exchanges Segment:
Data services revenues
$765 $717 $264 $242 
Services transferred over time related to risk management of open interest performance obligations
317 281 94 94 
Services transferred over time related to listings370 366 125 122 
Services transferred over time related to regulatory fees, trading permits, and software licenses101 98 34 34 
Total
$1,553 $1,462 $517 $492 
Fixed Income Data Services Segment:
Data services revenues$1,449 $1,367 $495 $461 
Services transferred over time related to risk management of open interest performance obligations in our CDS business30 26 11 11 
Total
$1,479 $1,393 $506 $472 
Mortgage Technology Segment:
Recurring revenues$1,183 $1,164 $391 $387 
Other10 12 4 4 
Total$1,193 $1,176 $395 $391 
Total consolidated revenues transferred over time$4,225 $4,031 $1,418 $1,355