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FAIR VALUE MEASUREMENT (Tables)
6 Months Ended
Jun. 30, 2024
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 June 30, 2024 and December 31, 2023 (in millions):

June 30, 2024

    

Total

    

Level 1

    

Level 2

    

Level 3

Assets:

U.S. Treasury securities (1)

$

47.1

$

47.1

$

$

Marketable securities (1):

Mutual funds

18.8

18.8

Money market funds

 

17.8

 

17.8

 

 

Digital assets - safeguarded assets

6.9

6.9

Note receivable - building sale (2)

6.4

6.4

Total assets

$

97.0

$

83.7

$

6.9

$

6.4

Liabilities:

Contingent consideration liabilities

$

1.8

$

$

$

1.8

Digital assets - safeguarded liabilities

6.9

6.9

Total liabilities

$

8.7

$

$

6.9

$

1.8

December 31, 2023

    

Total

    

Level 1

    

Level 2

    

Level 3

Assets:

U.S. Treasury securities (1)

$

20.8

$

20.8

$

$

Marketable securities (1):

Mutual funds

17.1

17.1

Money market funds

19.6

19.6

Digital assets - safeguarded assets

51.3

51.3

Total assets

$

108.8

$

57.5

$

51.3

$

Liabilities:

Contingent consideration liabilities

$

11.8

$

$

$

11.8

Digital assets - safeguarded liabilities

51.3

51.3

Cboe Digital restricted common units liability (3)

18.7

18.7

Cboe Digital warrant liability (3)

5.9

5.9

Total liabilities

$

87.7

$

$

51.3

$

36.4

(1)These amounts are reflected within financial investments in the condensed consolidated balance sheets.
(2)This amount is reflected within other 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 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 June 30, 2024 and December 31, 2023 (in millions):

June 30, 2024

    

Total

    

Level 1

    

Level 2

    

Level 3

Assets:

U.S. Treasury securities (1)

$

47.1

$

47.1

$

$

Deferred compensation plan assets (1)

36.6

36.6

Digital assets - safeguarded assets

6.9

6.9

Note receivable - building sale (2)

6.4

6.4

Total assets

$

97.0

$

83.7

$

6.9

$

6.4

Liabilities:

Contingent consideration liabilities

$

1.8

$

$

$

1.8

Deferred compensation plan liabilities (4)

36.6

36.6

Digital assets - safeguarded liabilities

6.9

6.9

Debt (5)

 

1,294.1

 

 

1,294.1

Total liabilities

$

1,339.4

$

36.6

$

1,301.0

$

1.8

December 31, 2023

    

Total

    

Level 1

    

Level 2

    

Level 3

Assets:

U.S. Treasury securities (1)

$

20.8

$

20.8

$

$

Deferred compensation plan assets (1)

 

36.7

 

36.7

 

 

Digital assets - safeguarded assets

51.3

51.3

Digital assets held (3,5)

0.1

0.1

Total assets

$

108.9

$

57.6

$

51.3

$

Liabilities:

Contingent consideration liabilities

$

11.8

$

$

$

11.8

Deferred compensation plan liabilities (4)

36.7

36.7

Digital assets - safeguarded liabilities

51.3

51.3

Cboe Digital restricted common units liability (4)

18.7

18.7

Cboe Digital warrant liability (4)

5.9

5.9

Debt (5)

 

1,305.7

 

 

1,305.7

 

Total liabilities

$

1,430.1

$

36.7

$

1,357.0

$

36.4

(1)These amounts are reflected within financial investments in the condensed consolidated balance sheets.
(2)This amount is reflected within other assets, net in the condensed consolidated balance sheets.
(3)These amounts are reflected within intangible assets, net in the condensed consolidated balance sheets.
(4)These amounts are reflected within other non-current liabilities in the condensed consolidated balance sheets.
(5)These balances are presented at fair value in this table, but are carried at their historical value within the condensed consolidated balance sheets.
Schedule of fair value of debt obligation

Fair Value

June 30, 2024

December 31, 2023

3.650% Senior Notes

$

627.9

$

628.5

1.625% Senior Notes

408.8

412.7

3.000% Senior Notes

257.4

264.5

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

The following table sets forth a summary of changes in the fair value of the Company’s Level 3 financial assets and liabilities during the three and six months ended June 30, 2024 (in millions):

Level 3 Financial Assets and Liabilities for the Three Months Ended June 30, 2024

Balance at

Realized (Losses)

Foreign

Balance at

Beginning of

Gains during

Currency

End of

    

Period

    

Period

    

Adjustments

    

Additions

    

Settlements

Translation

    

Period

Assets:

Note receivable - building sale

$

$

(0.6)

$

$

7.0

$

$

$

6.4

Total assets

$

$

(0.6)

$

$

7.0

$

$

$

6.4

Balance at

Realized Losses

Foreign

Balance at

Beginning of

(Gains) during

Currency

End of

Period

    

Period

    

Adjustments

    

Additions

    

Settlements

Translation

    

Period

Liabilities:

Contingent consideration liabilities

 

$

8.8

$

3.0

$

$

 

$

(10.0)

$

$

1.8

Cboe Digital restricted common units liability

18.4

(0.7)

(12.1)

(5.6)

Cboe Digital warrant liability

 

5.8

(1.3)

(4.1)

 

(0.4)

 

Total liabilities

$

33.0

$

1.0

$

(16.2)

$

$

(16.0)

$

$

1.8

Level 3 Financial Assets and Liabilities for the Six Months Ended June 30, 2024

Balance at

Realized (Losses)

Foreign

Balance at

Beginning of

Gains during

Currency

End of

    

Period

    

Period

    

Adjustments

    

Additions

    

Settlements

Translation

    

Period

Assets:

Note receivable - building sale

$

$

(0.6)

$

$

7.0

$

$

$

6.4

Total assets

$

$

(0.6)

$

$

7.0

$

$

$

6.4

Balance at

Realized Losses

Foreign

Balance at

Beginning of

(Gains) during

Currency

End of

Period

    

Period

    

Adjustments

    

Additions

    

Settlements

Translation

    

Period

Liabilities:

Contingent consideration liabilities

 

$

11.8

$

3.0

$

$

 

$

(13.0)

$

$

1.8

Cboe Digital restricted common units liability

18.7

(1.0)

(12.1)

(5.6)

Cboe Digital warrant liability

 

5.9

(1.4)

(4.1)

 

(0.4)

 

Total liabilities

$

36.4

$

0.6

$

(16.2)

$

$

(19.0)

$

$

1.8

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

Level 3 Financial Assets and Liabilities for the Three Months Ended June 30, 2024

Balance at

Realized (Losses)

Foreign

Balance at

Beginning of

Gains during

Currency

End of

    

Period

    

Period

    

Adjustments

    

Additions

    

Settlements

Translation

    

Period

Assets:

Note receivable - building sale

$

$

(0.6)

$

$

7.0

$

$

$

6.4

Total assets

$

$

(0.6)

$

$

7.0

$

$

$

6.4

Balance at

Realized Losses

Foreign

Balance at

Beginning of

(Gains) during

Currency

End of

Period

    

Period

    

Adjustments

    

Additions

    

Settlements

Translation

    

Period

Liabilities:

Contingent consideration liabilities

 

$

8.8

$

3.0

$

$

 

$

(10.0)

$

$

1.8

Cboe Digital restricted common units liability

18.4

(0.7)

(12.1)

(5.6)

Cboe Digital warrant liability

 

5.8

(1.3)

(4.1)

 

(0.4)

 

Total liabilities

$

33.0

$

1.0

$

(16.2)

$

$

(16.0)

$

$

1.8

Level 3 Financial Assets and Liabilities for the Six Months Ended June 30, 2024

Balance at

Realized (Losses)

Foreign

Balance at

Beginning of

Gains during

Currency

End of

    

Period

    

Period

    

Adjustments

    

Additions

    

Settlements

Translation

    

Period

Assets:

Note receivable - building sale

$

$

(0.6)

$

$

7.0

$

$

$

6.4

Total assets

$

$

(0.6)

$

$

7.0

$

$

$

6.4

Balance at

Realized Losses

Foreign

Balance at

Beginning of

(Gains) during

Currency

End of

Period

    

Period

    

Adjustments

    

Additions

    

Settlements

Translation

    

Period

Liabilities:

Contingent consideration liabilities

 

$

11.8

$

3.0

$

$

 

$

(13.0)

$

$

1.8

Cboe Digital restricted common units liability

18.7

(1.0)

(12.1)

(5.6)

Cboe Digital warrant liability

 

5.9

(1.4)

(4.1)

 

(0.4)

 

Total liabilities

$

36.4

$

0.6

$

(16.2)

$

$

(19.0)

$

$

1.8