v3.25.4

Deferred Revenue - Schedule of Changes in Deferred Revenue (Details) - USD ($) $ in Millions | 12 Months Ended
--- | ---
Dec. 31, 2025 | Dec. 31, 2024
Disaggregation Of Revenue [Roll Forward] |  |
Deferred revenue, beginning balance | $ 333 | $ 307
Additions | 972 | 1,047
Amortization | (1,013) | (1,021)
Deferred revenue, ending balance | 292 | 333
Listing Revenues |  |
Disaggregation Of Revenue [Roll Forward] |  |
Deferred revenue, beginning balance | 119 | 108
Additions | 495 | 500
Amortization | (495) | (489)
Deferred revenue, ending balance | 119 | 119
Data Services and Other Revenues |  |
Disaggregation Of Revenue [Roll Forward] |  |
Deferred revenue, beginning balance | 130 | 93
Additions | 339 | 400
Amortization | (368) | (363)
Deferred revenue, ending balance | 101 | 130
Mortgage Technology |  |
Disaggregation Of Revenue [Roll Forward] |  |
Deferred revenue, beginning balance | 84 | 106
Additions | 138 | 147
Amortization | (150) | (169)
Deferred revenue, ending balance | $ 72 | $ 84

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