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FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2022

FAIR VALUE MEASUREMENT

Schedule of fair value hierarchy for assets and liabilities measured at fair value on a recurring basis

The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2022 and 2021 (in millions):


		December 31, 2022
		Total			Level 1			Level 2			Level 3
Assets:
U.S. Treasury securities (1)		$	64.2		$	64.2		$	—		$	—
Marketable securities (1):
Mutual funds			15.3			15.3			—			—
Money market funds			12.2			12.2			—			—
Digital assets - safeguarded assets			22.9			22.9			—			—
Total Assets		$	114.6		$	114.6		$	—		$	—
Liabilities:
Contingent consideration liabilities		$	39.1		$	—		$	—		$	39.1
Digital assets - safeguarded liabilities			22.9			22.9			—			—
Cboe Digital restricted common units liability (2)			15.5			—			—			15.5
Cboe Digital warrant liability (2)			5.9			—			—			5.9
Total Liabilities		$	83.4		$	22.9		$	—		$	60.5


		December 31, 2021
		Total			Level 1			Level 2			Level 3
Assets:
U.S. Treasury securities (1)		$	9.1		$	9.1		$	—		$	—
Marketable securities (1):
Mutual funds			18.4			18.4			—			—
Money market funds			9.6			9.6			—			—
Total Assets		$	37.1		$	37.1		$	—		$	—
Liabilities:
Contingent consideration liabilities		$	70.5		$	—		$	—		$	70.5
Total Liabilities		$	70.5		$	—		$	—		$	70.5

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(1)	These amounts are reflected within financial investments in the consolidated balance sheets.

(2)	These amounts are reflected within other non-current liabilities in the consolidated balance sheets.

Schedule of fair value hierarchy for assets and liabilities measured on a nonrecurring basis

The following tables present the Company’s fair value hierarchy for certain assets and liabilities held by the Company as of December 31, 2022 and 2021 (in millions):


		December 31, 2022
		Total			Level 1			Level 2			Level 3
Assets:
U.S. Treasury securities (1)		$	64.2		$	64.2		$	—		$	—
Deferred compensation plan assets (1)			27.5			27.5			—			—
Digital assets - safeguarded assets			22.9			22.9			—			—
Digital assets held (2)			0.9			0.9			—			—
Total assets		$	115.5		$	115.5		$	—		$	—
Liabilities:
Contingent consideration liabilities		$	39.1		$	—		$	—		$	39.1
Deferred compensation plan liabilities (3)			27.5			27.5			—			—
Digital assets - safeguarded liabilities			22.9			22.9			—			—
Cboe Digital restricted common units liability (3)			15.5			—			—			15.5
Cboe Digital warrant liability (3)			5.9			—			—			5.9
Debt			1,573.9			—			1,573.9			—
Total liabilities		$	1,684.8		$	50.4		$	1,573.9		$	60.5


		December 31, 2021
		Total			Level 1			Level 2			Level 3
Assets:
U.S. Treasury securities (1)		$	9.1		$	9.1		$	—		$	—
Deferred compensation plan assets (1)			28.0			28.0			—			—
Total assets		$	37.1		$	37.1		$	—		$	—
Liabilities:
Contingent consideration liabilities		$	70.5		$	—		$	—		$	70.5
Deferred compensation plan liabilities (3)			28.0			28.0			—			—
Debt			1,333.6			—			1,333.6			—
Total liabilities		$	1,432.1		$	28.0		$	1,333.6		$	70.5

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(1)	These amounts are reflected within financial investments in the consolidated balance sheets.

(2)	These amounts are reflected within intangible assets, net in the consolidated balance sheets.

(3)	These amounts are reflected within other non-current liabilities in the consolidated balance sheets.

Schedule of fair value of debt obligation

At December 31, 2022 and 2021, the fair values of the Company’s debt obligations were as follows (in millions):


		Fair Value
		December 31, 2022			December 31, 2021
Term Loan Agreement		$	306.3		$	160.1
3.650% Senior Notes			623.6			702.6
1.625% Senior Notes			390.7			470.9
3.000% Senior Notes			253.3			—

Summary of changes in the fair value of Level 3 financial liabilities


		Level 3 Financial Liabilities for the Year Ended December 31, 2022
		Balance at			Realized (gains)												Foreign
		Beginning of			losses during												Currency			Balance at
		Period			period			Adjustments			Additions			Settlements			Translation			End of Period
Liabilities:
Contingent consideration liabilities		$	70.5		$	(5.2)		$	(44.3)		$	57.7		$	(38.7)		$	(0.9)		$	39.1
Cboe Digital restricted common units liability			—			—			—			15.5			—			—			15.5
Cboe Digital warrant liability			—			—			—			5.9			—			—			5.9
Total Liabilities		$	70.5		$	(5.2)		$	(44.3)		$	79.1		$	(38.7)		$	(0.9)		$	60.5


		Level 3 Financial Liabilities for the Year Ended December 31, 2021
		Balance at			Realized (gains)												Foreign
		Beginning of			losses during												Currency			Balances at
		Period			period			Adjustments			Additions			Settlements			Translation			End of Period
Liabilities
Contingent consideration liabilities		$	32.7		$	(2.7)		$	—		$	49.6		$	(9.1)		$	—		$	70.5
Total Liabilities		$	32.7		$	(2.7)		$	—		$	49.6		$	(9.1)		$	—		$	70.5