v3.23.2
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue Recognition The following table depicts the disaggregation of our revenue according to business line and segment (in millions). Amounts here have been aggregated as they follow consistent revenue recognition patterns, and are consistent with the segment information in Note 15:
 Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Six Months Ended June 30, 2023:
Total revenues$3,214 $1,109 $485 $4,808 
Transaction-based expenses1,024 — — 1,024 
Total revenues, less transaction-based expenses$2,190 $1,109 $485 $3,784 
Timing of Revenue Recognition
Services transferred at a point in time$1,263 $229 $148 $1,640 
Services transferred over time927 880 337 2,144 
Total revenues, less transaction-based expenses$2,190 $1,109 $485 $3,784 


 Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Three Months Ended June 30, 2023:
Total revenues$1,541 $546 $249 $2,336 
Transaction-based expenses448 — — 448 
Total revenues, less transaction-based expenses$1,093 $546 $249 $1,888 
Timing of Revenue Recognition
Services transferred at a point in time$628 $106 $81 $815 
Services transferred over time465 440 168 1,073 
Total revenues, less transaction-based expenses$1,093 $546 $249 $1,888 


 Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Six Months Ended June 30, 2022:
Total revenues$3,247 $1,021 $604 $4,872 
Transaction-based expenses1,159 — — 1,159 
Total revenues, less transaction-based expenses$2,088 $1,021 $604 $3,713 
Timing of Revenue Recognition
Services transferred at a point in time$1,197 $159 $270 $1,626 
Services transferred over time891 862 334 2,087 
Total revenues, less transaction-based expenses$2,088 $1,021 $604 $3,713 
 Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Three Months Ended June 30, 2022:
Total revenues$1,604 $512 $297 $2,413 
Transaction-based expenses599 $— $— 599 
Total revenues, less transaction-based expenses$1,005 $512 $297 $1,814 
Timing of Revenue Recognition
Services transferred at a point in time$563 $83 $128 $774 
Services transferred over time442 429 169 1,040 
Total revenues, less transaction-based expenses$1,005 $512 $297 $1,814 
The components of services transferred over time for each of our segments are as follows:
Six Months Ended June 30,
Three Months Ended June 30,
 2023202220232022
Exchanges Segment:
Data services revenues
$463 $432 $231 $218 
Services transferred over time related to risk management of open interest performance obligations
151 139 $75 $63 
Services transferred over time related to listings252 260 $126 $131 
Services transferred over time related to regulatory fees, trading permits, and software licenses61 60 $33 $30 
Total
$927 $891 $465 $442 
Fixed Income Data Services Segment:
Data services revenues$864 $843 $434 $421 
Services transferred over time related to risk management of open interest performance obligations in our CDS business16 19 $6 $8 
Total
$880 $862 $440 $429 
Mortgage Technology Segment:
Subscription revenues$329 $316 $164 $160 
Professional service revenues and other8 18 $4 $9 
Total$337 $334 $168 $169 
Total consolidated revenues transferred over time$2,144 $2,087 $1,073 $1,040