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Deferred Revenue (Tables) | 3 Months Ended
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Mar. 31, 2022
Revenue from Contract with Customer [Abstract] |
Changes in Deferred Revenue | The changes in our deferred revenue during the three months ended March 31, 2022 are reflected in the following table:
| Balance at December 31, 2021 | Additions | Revenue Recognized | Adjustments | Balance at March 31, 2022 |  |  |  |  |  |  |  |
| (in millions) |  |  |  |  |  |  |  |
Market Technology | $ | 117 |  | $ | 53 |  | $ | (57) |  | $ | (2) |  | $ | 111 |  |  |  |  |  |  |  |  |
Investment Intelligence | 106 |  | 61 |  | (41) |  | — |  | 126 |  |  |  |  |  |  |  |  |
Corporate Platforms: |  |  |  |  |  |  |  |  |  |  |  |
Initial Listing | 145 |  | 16 |  | (19) |  | (1) |  | 141 |  |  |  |  |  |  |  |  |
Annual Listings | 2 |  | 267 |  | — |  | 1 |  | 270 |  |  |  |  |  |  |  |  |
IR & ESG Services | 57 |  | 30 |  | (24) |  | — |  | 63 |  |  |  |  |  |  |  |  |
Other | 21 |  | 8 |  | (4) |  | (1) |  | 24 |  |  |  |  |  |  |  |  |
Total | $ | 448 |  | $ | 435 |  | $ | (145) |  | $ | (3) |  | $ | 735 |  |  |  |  |  |  |  |  |
In the preceding table: •Revenue recognized includes revenue recognized during the current period that was included in the beginning balance. •Adjustments reflect foreign currency translation adjustments. •Other primarily includes deferred revenue from non-U.S. listing of additional shares fees. Listing of additional shares fees are included in our Listing Services business.
Estimated Deferred Revenue | As of March 31, 2022, we estimate that our deferred revenue will be recognized in the following years:
Fiscal year ended: | 2022 | 2023 | 2024 | 2025 | 2026 | 2027+ | Total |  |  |  |  |  |
| (in millions) |  |  |  |  |  |
Market Technology | $ | 101 |  | $ | 8 |  | $ | 1 |  | $ | 1 |  | $ | — |  | $ | — |  | $ | 111 |  |  |  |  |  |  |
Investment Intelligence | 115 |  | 11 |  | — |  | — |  | — |  | — |  | 126 |  |  |  |  |  |  |
Corporate Platforms: |  |  |  |  |  |  |  |  |  |  |  |
Initial Listings | 37 |  | 37 |  | 27 |  | 18 |  | 15 |  | 7 |  | 141 |  |  |  |  |  |  |
Annual Listings | 270 |  | — |  | — |  | — |  | — |  | — |  | 270 |  |  |  |  |  |  |
IR & ESG Services | 60 |  | 3 |  | — |  | — |  | — |  | — |  | 63 |  |  |  |  |  |  |
Other | 11 |  | 6 |  | 5 |  | 2 |  | — |  | — |  | 24 |  |  |  |  |  |  |
Total | $ | 594 |  | $ | 65 |  | $ | 33 |  | $ | 21 |  | $ | 15 |  | $ | 7 |  | $ | 735 |  |  |  |  |  |  |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 + Details
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