v2.4.0.8

Deferred Revenue | 9 Months Ended
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Sep. 30, 2013
Deferred Revenue [Abstract] |
Deferred Revenue | 7. Deferred Revenue Deferred revenue represents cash payments received that are yet to be recognized as revenue. At September 30, 2013, we estimate that our deferred revenue, which is primarily related to Listing Services and Technology Solutions revenues, will be recognized in the following years:
|  | Initial Listing Revenues |  | Listing of Additional Shares Revenues |  | Annual Renewal and Other Revenues |  | Technology Solutions Revenues(2) |  | Total
|  | (in millions)
Fiscal year ended: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2013(1) |  | $ | 3 |  | $ | 10 |  | $ | 60 |  | $ | 36 |  | $ | 109
2014 |  |  | 10 |  |  | 31 |  |  | 4 |  |  | 50 |  |  | 95
2015 |  |  | 9 |  |  | 20 |  |  | - |  |  | 29 |  |  | 58
2016 |  |  | 7 |  |  | 12 |  |  | - |  |  | 23 |  |  | 42
2017 |  |  | 5 |  |  | 3 |  |  | - |  |  | 15 |  |  | 23
2018 and thereafter |  |  | 4 |  |  | - |  |  | - |  |  | 8 |  |  | 12
|  | $ | 38 |  | $ | 76 |  | $ | 64 |  | $ | 161 |  | $ | 339
(1) Represents deferred revenue that is anticipated to be recognized over the remaining three months of 2013. (2) The timing of recognition of our deferred Technology Solutions revenues is primarily dependent upon the completion of customization and any significant modifications made pursuant to existing Market Technology contracts and the timing of Corporate Solutions subscription-based contracts. As such, as it relates to Market Technology revenues, the timing represents our best estimate. The changes in our deferred revenue during the nine months ended September 30, 2013 and 2012 are reflected in the following table.
|  | Initial Listing Revenues |  | Listing of Additional Shares Revenues |  | Annual Renewal and Other Revenues |  | Technology Solutions Revenues(2) |  | Total
|  | (in millions)
Balance at January 1, 2013 |  | $ | 36 |  | $ | 78 |  | $ | 32 |  | $ | 149 |  | $ | 295
Additions(1) |  |  | 12 |  |  | 28 |  |  | 215 |  |  | 156 |  |  | 411
Amortization(1) |  |  | (10) |  |  | (30) |  |  | (177) |  |  | (155) |  |  | (372)
Translation adjustment |  |  | - |  |  | - |  |  | (6) |  |  | 11 |  |  | 5
Balance at September 30, 2013 |  | $ | 38 |  | $ | 76 |  | $ | 64 |  | $ | 161 |  | $ | 339
Balance at January 1, 2012 |  | $ | 39 |  | $ | 86 |  | $ | 25 |  | $ | 128 |  | $ | 278
Additions(1) |  |  | 8 |  |  | 22 |  |  | 213 |  |  | 73 |  |  | 316
Amortization(1) |  |  | (11) |  |  | (29) |  |  | (170) |  |  | (65) |  |  | (275)
Translation adjustment |  |  | - |  |  | - |  |  | 1 |  |  | 5 |  |  | 6
Balance at September 30, 2012 |  | $ | 36 |  | $ | 79 |  | $ | 69 |  | $ | 141 |  | $ | 325
(1) The additions and amortization for initial listing revenues, listing of additional shares revenues and annual renewal and other revenues primarily reflect revenues from our U.S. listing services business. (2) Technology Solutions deferred revenues primarily include revenues from our Market Technology delivered client contracts in the support phase charged during the period and our Corporate Solutions subscription based contracts. For our Market Technology contracts, where customization and significant modifications to the software are made to meet the needs of our customers, total revenues, as well as costs incurred, are deferred until significant modifications are completed and delivered. Once delivered, deferred revenue and the related deferred costs are recognized over the post contract support period. For these Market Technology contracts, w e have included the deferral of costs in other current assets and other non-current assets in the Condensed Consolidated Balance Sheets. The amortization of Technology Solutions deferred revenue primarily includes revenues earned from Market Technology client contracts and Corporate Solutions subscription based contracts recognized during the period.

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- Definition The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 8 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6935-107765 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 13 -Section A Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 605 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 13.A.3(b).Q1(c),(b).Q2,(c).Q3) -URI http://asc.fasb.org/extlink&oid=27012821&loc=d3e214044-122780 + Details
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