v2.4.0.8
Business Segments (Tables)
9 Months Ended
Sep. 30, 2013
Text Block [Abstract]  
Schedule of Operating Segments

The following table presents certain information regarding these operating segments for the three and nine months ended September 30, 2013 and 2012.  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Market Services

 

Listing Services

 

Information Services

 

Technology Solutions

 

Corporate Items and Eliminations

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in millions)

Three Months Ended September 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

$

499 

 

$

57 

 

$

118 

 

$

131 

 

$

 -

 

$

805 

Cost of revenues

 

 

(299)

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(299)

Revenues less transaction rebates, brokerage, clearance and exchange fees

 

 

200 

 

 

57 

 

 

118 

 

 

131 

 

 

 -

 

 

506 

Operating income(1)

 

$

85 

 

$

22 

 

$

86 

 

$

 

$

 -

 

$

202 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

$

519 

 

$

55 

 

$

99 

 

$

73 

 

$

 -

 

$

746 

Cost of revenues

 

 

(334)

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(334)

Revenues less transaction rebates, brokerage, clearance and exchange fees

 

 

185 

 

 

55 

 

 

99 

 

 

73 

 

 

 -

 

 

412 

Operating income (loss)(2)

 

$

80 

 

$

23 

 

$

72 

 

$

 

$

(11)

 

$

170 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

$

1,559 

 

$

170 

 

$

333 

 

$

300 

 

$

 -

 

$

2,362 

Cost of revenues

 

 

(987)

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(987)

Revenues less transaction rebates, brokerage, clearance and exchange fees

 

 

572 

 

 

170 

 

 

333 

 

 

300 

 

 

 -

 

 

1,375 

Operating income (loss)(3)

 

$

234 

 

$

69 

 

$

246 

 

$

18 

 

$

(117)

 

$

450 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

$

1,686 

 

$

166 

 

$

307 

 

$

206 

 

$

 -

 

$

2,365 

Cost of revenues

 

 

(1,112)

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(1,112)

Revenues less transaction rebates, brokerage, clearance and exchange fees

 

 

574 

 

 

166 

 

 

307 

 

 

206 

 

 

 -

 

 

1,253 

Operating income (loss)(4)

 

$

240 

 

$

68 

 

$

225 

 

$

14 

 

$

(31)

 

$

516 

 

(1)   Corporate items and eliminations for the three months ended September 30, 2013 primarily include merger and strategic initiatives expenses including $8 million of costs primarily related to the acquisitions of eSpeed and the TR Corporate Solutions businesses. These amounts were offset by the remeasurement of a contingent purchase price liability related to the BWise acquisition due to changes in the anticipated performance of BWise.

(2)   Corporate items and eliminations for the three months ended September 30, 2012 primarily include restructuring charges, special legal expenses related to our voluntary accommodation program and other expenses related to the systems issues experienced at the time of the Facebook IPO, and a net gain on merger and strategic initiatives.

(3)   Corporate items and eliminations for the nine months ended September 30, 2013 primarily include expenses related to our voluntary accommodation program, merger and strategic initiatives expense, expense related to an SEC matter, restructuring charges, and special legal expenses.

(4)   Corporate items and eliminations for the nine months ended September 30, 2012 primarily include restructuring charges and special legal expenses, partially offset by income from open positions relating to operations of the exchange.

In connection with our change in reportable segments, total assets as of December 31, 2012 have been recast as presented in the following table.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Market Services

 

Listing Services

 

Information Services

 

Technology Solutions

 

Corporate Items and Eliminations

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in millions)

Total assets at September 30, 2013

 

$

7,879 

 

$

279 

 

$

2,591 

 

$

1,081 

 

$

656 

 

$

12,486 

Total assets at December 31, 2012

 

 

4,981 

 

 

254 

 

 

2,456 

 

 

625 

 

 

816 

 

 

9,132