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v3.23.1

FAIR VALUE MEASUREMENT (Tables) | 3 Months Ended
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Mar. 31, 2023
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 March 31, 2023 and December 31, 2022 (in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2023
​ |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury securities (1) | ​ | $ | 49.5 | ​ | $ | 49.5 | ​ | $ | — | ​ | $ | —
Marketable securities (1): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mutual funds | ​ | ​ | 14.2 | ​ | ​ | 14.2 | ​ | ​ | — | ​ | ​ | —
Money market funds | ​ |  | 16.5 | ​ |  | 16.5 | ​ |  | — | ​ |  | —
Digital assets - safeguarded assets | ​ | ​ | 42.0 | ​ | ​ | 42.0 | ​ | ​ | — | ​ | ​ | —
Total assets | ​ | $ | 122.2 | ​ | $ | 122.2 | ​ | $ | — | ​ | $ | —
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contingent consideration liabilities | ​ | $ | 34.2 | ​ | $ | — | ​ | $ | — | ​ | $ | 34.2
Digital assets - safeguarded liabilities | ​ | ​ | 42.0 | ​ | ​ | 42.0 | ​ | ​ | — | ​ | ​ | —
Cboe Digital restricted common units liability (2) | ​ | ​ | 15.6 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 15.6
Cboe Digital warrant liability (2) | ​ | ​ | 5.9 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5.9
Total liabilities | ​ | $ | 97.7 | ​ | $ | 42.0 | ​ | $ | — | ​ | $ | 55.7
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
(1) | These amounts are reflected within financial investments in the condensed consolidated balance sheets.
(2) | These amounts are reflected within other non-current liabilities in the condensed 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 March 31, 2023 and December 31, 2022 (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2023
​ |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury securities (1) | ​ | $ | 49.5 | ​ | $ | 49.5 | ​ | $ | — | ​ | $ | —
Deferred compensation plan assets (1) | ​ | ​ | 30.7 | ​ | ​ | 30.7 | ​ | ​ | — | ​ | ​ | —
Digital assets - safeguarded assets | ​ | ​ | 42.0 | ​ | ​ | 42.0 | ​ | ​ | — | ​ | ​ | —
Digital assets held (2) | ​ | ​ | 0.1 | ​ | ​ | 0.1 | ​ | ​ | — | ​ | ​ | —
Total assets | ​ | $ | 122.3 | ​ | $ | 122.3 | ​ | $ | — | ​ | $ | —
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contingent consideration liabilities | ​ | $ | 34.2 | ​ | $ | — | ​ | $ | — | ​ | $ | 34.2
Deferred compensation plan liabilities (3) | ​ | ​ | 30.7 | ​ | ​ | 30.7 | ​ | ​ | — | ​ | ​ | —
Digital assets - safeguarded liabilities | ​ | ​ | 42.0 | ​ | ​ | 42.0 | ​ | ​ | — | ​ | ​ | —
Cboe Digital restricted common units liability (3) | ​ | ​ | 15.6 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 15.6
Cboe Digital warrant liability (3) | ​ | ​ | 5.9 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5.9
Debt | ​ |  | 1,595.7 | ​ |  | — | ​ |  | 1,595.7 | ​ |  | —
Total liabilities | ​ | $ | 1,724.1 | ​ | $ | 72.7 | ​ | $ | 1,595.7 | ​ | $ | 55.7
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
(1) | These amounts are reflected within financial investments in the condensed consolidated balance sheets.
(2) | These amounts are reflected within intangible assets, net in the condensed consolidated balance sheets.
(3) | These amounts are reflected within other non-current liabilities in the condensed consolidated balance sheets.
​
Schedule of fair value of debt obligation | At March 31, 2023 and December 31, 2022, the fair values of the Company’s debt obligations were as follows (in millions): ​
​ | ​ | ​ | ​ | ​ | ​
​ | Fair Value
​ | March 31, 2023 | ​ | December 31, 2022
Term Loan Agreement | $ | 306.1 | ​ | $ | 306.3
3.650% Senior Notes |  | 627.7 | ​ | ​ | 623.6
1.625% Senior Notes | ​ | 401.8 | ​ | ​ | 390.7
3.000% Senior Notes | ​ | 260.1 | ​ | ​ | 253.3
​
Summary of changes in the fair value of Level 3 financial liabilities | The following table sets forth a summary of changes in the fair value of the Company’s Level 3 financial liabilities during the three months ended March 31, 2023 (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Level 3 Financial Liabilities for the Three Months Ended March 31, 2023
​ | ​ | Balance at | ​ | Realized (Gains) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Foreign | ​ | Balances at
​ | ​ | Beginning of | ​ | Losses during | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Currency | ​ | End of
​ |  | Period |  | Period |  | Adjustments |  | Additions |  | Settlements | ​ | Translation |  | Period
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contingent consideration liabilities |  | $ | 39.1 | ​ | $ | — | ​ | $ | — | ​ | $ | — |  | $ | (4.9) | ​ | $ | — |  | $ | 34.2
Cboe Digital restricted common units liability | ​ | ​ | 15.5 | ​ | ​ | — | ​ | ​ | 0.1 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 15.6
Cboe Digital warrant liability |  | ​ | 5.9 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — |  | ​ | — | ​ | ​ | — |  | ​ | 5.9
Total liabilities | ​ | $ | 60.5 | ​ | $ | — | ​ | $ | 0.1 | ​ | $ | — | ​ | $ | (4.9) | ​ | $ | — | ​ | $ | 55.7

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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