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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2024
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

23.  SUBSEQUENT EVENTS

On April 25, 2024, the Company announced plans to wind down the spot crypto market currently offered by Cboe Digital and transition its cash-settled Bitcoin and Ether futures contracts to CFE, pending regulatory review and certain corporate approvals. The Company expects to maintain the derivatives clearing services currently operated by Cboe Clear Digital, integrating these functions and teams into the existing organizational structure. In connection with shutting down the spot crypto exchange, the Company also plans to unwind the minority ownership structure in Cboe Digital.

For the three months ended March 31, 2024, Cboe Digital net revenue was $(0.9) million and is included in the Digital reportable segment. The Company expects to record an estimated pre-tax charge of $39 million to $82 million, which is expected to be recorded in the quarter ending June 30, 2024, primarily related to non-cash impairment of long-lived and indefinite-lived intangible assets.

Subsequent to the three months ended March 31, 2024, from April 1, 2024 through April 30, 2024, the Company repurchased 152,383 shares of its common stock under its share repurchase program at an average cost per share of $179.54, for a total value of $27.4 million. As of April 30, 2024, the Company had $267.4 million of availability remaining under its existing share repurchase authorizations.

There have been no other subsequent events that would require disclosure in, or adjustment to, the condensed consolidated financial statements as of and for the three months ended March 31, 2024.