Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Oct. 14, 2015 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,015 | |
Entity Registrant Name | CME GROUP INC. | |
Entity Central Index Key | 1,156,375 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Class A Common Stock [Member] | ||
Entity Common Stock, Shares Outstanding | 338,233,253 | |
Class B Common Stock, Class B-1 [Member] | ||
Entity Common Stock, Shares Outstanding | 625 | |
Class B Common Stock, Class B-2 [Member] | ||
Entity Common Stock, Shares Outstanding | 813 | |
Class B Common Stock, Class B-3 [Member] | ||
Entity Common Stock, Shares Outstanding | 1,287 | |
Class B Common Stock, Class B-4 [Member] | ||
Entity Common Stock, Shares Outstanding | 413 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Assets | |||
Cash and cash equivalents | $ 1,434.3 | $ 1,366.1 | |
Marketable securities | 72.4 | 74.7 | |
Accounts receivable, net of allowance | 363.8 | 341.2 | |
Other current assets | 267.1 | 196.5 | |
Cash performance bonds and guaranty fund contributions | 49,321.2 | 40,566.8 | |
Total current assets | 51,458.8 | 42,545.3 | |
Property, net of accumulated depreciation and amortization | 496.1 | 508.9 | |
Intangible assets - trading products | [1] | 17,175.3 | 17,175.3 |
Intangible assets - other, net | 2,562.7 | 2,637.4 | |
Goodwill | 7,569 | 7,569 | |
Other assets | 1,687.7 | 1,805.6 | |
Total Assets | 80,949.6 | 72,241.5 | |
Liabilities and Shareholders' Equity | |||
Accounts payable | 38.1 | 36.9 | |
Other current liabilities | 239.5 | 927.5 | |
Cash performance bonds and guaranty fund contributions | 49,321.2 | 40,566.8 | |
Total current liabilities | 49,598.8 | 41,531.2 | |
Long-term debt | 2,241.2 | 2,107.9 | |
Deferred income tax liabilities, net | 7,341.5 | 7,302.7 | |
Other liabilities | 391.3 | 376.2 | |
Total Liabilities | 59,572.8 | 51,318 | |
Shareholders' Equity: | |||
Preferred stock, $0.01 par value, 10,000 shares authorized, none issued or outstanding | 0 | 0 | |
Additional paid-in capital | 17,696.2 | 17,596.6 | |
Retained earnings | 3,771.8 | 3,317.3 | |
Accumulated other comprehensive income (loss) | (94.6) | 6.2 | |
Total Shareholders' Equity | 21,376.8 | 20,923.5 | |
Total Liabilities and Shareholders' Equity | 80,949.6 | 72,241.5 | |
Class A Common Stock [Member] | |||
Shareholders' Equity: | |||
Common stock | 3.4 | 3.4 | |
Class B Common Stock [Member] | |||
Shareholders' Equity: | |||
Common stock | $ 0 | $ 0 | |
[1] | )Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the Commodity Futures Trading Commission (CFTC). Product authorizations from the CFTC have no term limits |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Accounts receivable, allowance | $ 1 | $ 1.2 |
Restricted cash, current | 32 | 37 |
Accumulated depreciation and amortization, property | 777.2 | 741 |
Restricted cash, noncurrent | $ 71.6 | $ 72.4 |
Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 10,000 | 10,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Series A Junior Participating Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 0 | 0 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Class A Common Stock [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Common stock, shares issued (in shares) | 336,736 | 335,452 |
Common stock, shares outstanding (in shares) | 336,736 | 335,452 |
Class B Common Stock [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 3 | 3 |
Common stock, shares issued (in shares) | 3 | 3 |
Common stock, shares outstanding (in shares) | 3 | 3 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Revenues | ||||
Clearing and transaction fees | $ 715 | $ 641.8 | $ 2,105 | $ 1,903.3 |
Market data and information services | 99.5 | 87.7 | 300.3 | 266.7 |
Access and communication fees | 21.6 | 20.8 | 64.4 | 61.6 |
Other | 14.2 | 12.1 | 43.3 | 39.8 |
Total Revenues | 850.3 | 762.4 | 2,513 | 2,271.4 |
Expenses | ||||
Compensation and benefits | 136.4 | 132.1 | 419.2 | 407.3 |
Communications | 7.1 | 7.8 | 21.3 | 24.3 |
Technology support services | 15.4 | 13.8 | 47.1 | 42.3 |
Professional fees and outside services | 33.8 | 32.2 | 90.6 | 99.3 |
Amortization of purchased intangibles | 24.9 | 25.3 | 74.8 | 75.7 |
Depreciation and amortization | 32.4 | 32.7 | 97.5 | 101.1 |
Occupancy and building operations | 23.1 | 24.7 | 69.4 | 71.1 |
Licensing and other fee agreements | 33.1 | 25.5 | 92.5 | 80.2 |
Other | 27.7 | 37.9 | 81.8 | 73.2 |
Total Expenses | 333.9 | 332 | 994.2 | 974.5 |
Operating Income | 516.4 | 430.4 | 1,518.8 | 1,296.9 |
Non-Operating Income (Expense) | ||||
Investment income | 2.5 | 7.4 | 26.7 | 25.7 |
Gain (Loss) on Derivative Instruments, Net, Pretax | 0 | 0 | (1.8) | 0 |
Interest and other borrowing costs | (28.3) | (28.7) | (88.5) | (90.7) |
Equity in net losses of unconsolidated subsidiaries | 26.6 | 20 | 75.1 | 63.9 |
Other non-operating income (expense) | (0.8) | 0 | (42) | 1.8 |
Total Non-Operating | 0 | (1.3) | (30.5) | 0.7 |
Income before Income Taxes | 516.4 | 429.1 | 1,488.3 | 1,297.6 |
Income tax provision | 156.5 | 139.1 | 533 | 477.2 |
Net income | 359.9 | 290 | 955.3 | 820.4 |
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 0 | 0 | (0.2) |
Net Income Attributable to CME Group | $ 359.9 | $ 290 | $ 955.3 | $ 820.6 |
Earnings per Common Share Attributable to CME Group: | ||||
Basic (in dollars per share) | $ 1.07 | $ 0.87 | $ 2.84 | $ 2.46 |
Diluted (in dollars per share) | $ 1.06 | $ 0.86 | $ 2.83 | $ 2.44 |
Weighted Average Number of Common Shares: | ||||
Basic (in shares) | 336,323 | 334,424 | 336,015 | 334,144 |
Diluted (in shares) | 338,139 | 336,172 | 337,804 | 335,820 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 359.9 | $ 290 | $ 955.3 | $ 820.4 |
Other comprehensive income, net of tax | ||||
Net unrealized holding gains arising during the period | (100.2) | (66.6) | (91) | (10.7) |
Reclassification adjustment for gains included in investment income | 2.6 | 0 | (3.4) | 0 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | 0 | (5) | 1.2 | (6.5) |
Investment securities, net | (97.6) | (71.6) | (93.2) | (17.2) |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 0 | 0 | (0.3) | (3.2) |
Amortization of net actuarial (gains) losses included in pension expense | 0.6 | 0 | 2 | 0.2 |
Defined benefit plans, income tax benefit (expense) | (0.2) | 0 | (0.6) | 1.1 |
Defined benefit plans, net | 0.4 | 0 | 1.1 | (1.9) |
Net unrealized holding losses arising during the period | 0 | 0 | (4.7) | 0 |
Loss on Cash Flow Hedge Ineffectiveness | 0 | 0 | 1.8 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, before Tax | (0.3) | (0.4) | (0.9) | (1.1) |
Derivative instruments, income tax benefit (expense) | 0.1 | 0.1 | 1.5 | 0.4 |
Derivative instruments, net | (0.2) | (0.3) | (2.3) | (0.7) |
Foreign currency translation adjustment | (3.4) | (6.9) | (10) | (2.7) |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax | 1.1 | 2.6 | 3.6 | 1 |
Foreign currency translation, net | (2.3) | (4.3) | (6.4) | (1.7) |
Other Comprehensive Income (Loss), Net of Tax | (99.7) | (76.2) | (100.8) | (21.5) |
Comprehensive income | 260.2 | 213.8 | 854.5 | 798.9 |
Less: comprehensive income attributable to redeemable non-controlling interest | 0 | 0 | 0 | (0.2) |
Comprehensive income attributable to CME Group | $ 260.2 | $ 213.8 | $ 854.5 | $ 799.1 |
Consolidated Statements Of Shar
Consolidated Statements Of Shareholders' Equity - USD ($) shares in Thousands, $ in Millions | Total | Common Stock And Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Parent [Member] | Noncontrolling Interest [Member] | Class A Common Stock [Member] | Class A Common Stock [Member]Common Stock And Additional Paid-In Capital [Member] | Class B Common Stock [Member] | Class B Common Stock [Member]Common Stock And Additional Paid-In Capital [Member] |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 21,160.5 | |||||||||
Balance (in shares) at Dec. 31, 2013 | 333,852 | 3 | ||||||||
Balance at Dec. 31, 2013 | $ 17,508.2 | $ 3,494.6 | $ 152 | $ 21,154.8 | ||||||
Stockholders' Equity Attributable to Noncontrolling Interest at Dec. 31, 2013 | $ 5.7 | |||||||||
Net Income Attributable to CME Group | 820.6 | 820.6 | 820.6 | |||||||
Net Income (Loss) Attributable to Noncontrolling Interest | (0.2) | (0.2) | ||||||||
Net income | 820.4 | |||||||||
Other Comprehensive Income (Loss), Net of Tax | (21.5) | (21.5) | ||||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (21.5) | (21.5) | (21.5) | |||||||
Dividends on common stock per share | (473.2) | (473.2) | (473.2) | |||||||
Adjustments to Additional Paid in Capital, Other | (7) | (5.5) | ||||||||
Exercise of stock options (in shares) | 590 | |||||||||
Exercise of stock options | 26.6 | 26.6 | 26.6 | |||||||
Excess tax benefits from option exercises and restricted stock vesting | 3.3 | 3.3 | 3.3 | |||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 496 | |||||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | (16.2) | (16.2) | (16.2) | |||||||
Stock Issued To Related Parties During Period Shares | 34 | |||||||||
Stock Issued To Related Parties During Period Value | 2.4 | 2.4 | 2.4 | |||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 13 | |||||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 0.9 | 0.9 | 0.9 | |||||||
Stock Granted, Value, Share-based Compensation, Gross | 40.9 | 40.9 | 40.9 | |||||||
Stockholders' Equity Attributable to Noncontrolling Interest at Sep. 30, 2014 | $ 0 | |||||||||
Balance (in shares) at Sep. 30, 2014 | 334,985 | 3 | ||||||||
Balance at Sep. 30, 2014 | 17,564.6 | 3,842 | 130.5 | 21,537.1 | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 21,537.1 | |||||||||
Balance (in shares) at Dec. 31, 2014 | 335,452 | 335,452 | 3 | 3 | ||||||
Balance at Dec. 31, 2014 | 20,923.5 | 17,600 | 3,317.3 | 6.2 | 20,923.5 | |||||
Net Income Attributable to CME Group | 955.3 | 955.3 | 955.3 | |||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 0 | |||||||||
Other Comprehensive Income (Loss), Net of Tax | (100.8) | (100.8) | ||||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (100.8) | |||||||||
Dividends on common stock per share | (500.8) | (500.8) | ||||||||
Adjustments to Additional Paid in Capital, Other | 9.3 | 9.3 | ||||||||
Exercise of stock options (in shares) | 798 | |||||||||
Exercise of stock options | 51.8 | 51.8 | ||||||||
Excess tax benefits from option exercises and restricted stock vesting | 6.7 | 6.7 | ||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 450 | |||||||||
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | (16.8) | (16.8) | ||||||||
Stock Issued To Related Parties During Period Shares | 26 | |||||||||
Stock Issued To Related Parties During Period Value | 2.4 | 2.4 | ||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 10 | |||||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 1 | 1 | ||||||||
Stock Granted, Value, Share-based Compensation, Gross | 45.2 | 45.2 | ||||||||
Balance (in shares) at Sep. 30, 2015 | 336,736 | 336,736 | 3 | 3 | ||||||
Balance at Sep. 30, 2015 | $ 21,376.8 | $ 17,699.6 | $ 3,771.8 | $ (94.6) | $ 21,376.8 |
Consolidated Statements Of Sha7
Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash dividends on common stock, per share (in dollars per share) | $ 1.50 | $ 1.41 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash Flows from Operating Activities | ||
Net income | $ 955.3 | $ 820.4 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Stock-based compensation | 45.2 | 40.9 |
Amortization of purchased intangibles | 74.8 | 75.7 |
Depreciation and amortization | 97.5 | 101.1 |
Gain (Loss) on Sale of Investments | (3.4) | 0 |
Gains (Losses) on Extinguishment of Debt | 61.8 | 0 |
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | (15.2) | (39.2) |
Deferred income taxes | 49.8 | 63.1 |
Change in: | ||
Accounts receivable | (22.3) | (41.9) |
Other current assets | 12.4 | (9.4) |
Other assets | (18.4) | (10.9) |
Accounts payable | 1.3 | (1.2) |
Income taxes payable | (70.1) | (141.4) |
Other current liabilities | (31.3) | (62.6) |
Other liabilities | (0.5) | (11.2) |
Other | 4.3 | 5.5 |
Net Cash Provided by Operating Activities | 1,141.2 | 788.9 |
Cash Flows from Investing Activities | ||
Proceeds from maturities of available-for-sale marketable securities | 29.3 | 28.5 |
Purchases of available-for-sale marketable securities | (29.3) | (29.3) |
Purchases of property | (90.3) | (104.2) |
Proceeds from sale of building property | 0 | 7.9 |
Payments to Acquire Investments | 7 | 10.5 |
Proceeds from Sale of Available-for-sale Securities, Equity | 69 | 0 |
Settlement of derivative related to debt issuance | 7 | 0 |
Net Cash Used in Investing Activities | (21.3) | (107.6) |
Cash Flows from Financing Activities | ||
Proceeds from other borrowings, net of issuance costs | 743.7 | 0 |
Repayment of other borrowings | (673) | (750) |
Cash dividends | (1,174.9) | (1,339.2) |
Payments to Noncontrolling Interests | 0 | 4.7 |
Proceeds from exercise of stock options | 51.8 | 26.6 |
Excess tax benefits related to employee option exercises and restricted stock vesting | 6.7 | 3.3 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | (7) | 0 |
Proceeds from (Payments for) Other Financing Activities | 1 | 0.9 |
Net Cash Used in Financing Activities | (1,051.7) | (2,063.1) |
Net change in cash and cash equivalents | 68.2 | (1,381.8) |
Cash and cash equivalents, beginning of period | 1,366.1 | 2,469.7 |
Cash and Cash Equivalents, End of Period | 1,434.3 | 1,087.9 |
Supplemental Disclosure of Cash Flow Information | ||
Income taxes paid | 548.5 | 523.9 |
Interest paid | $ 89.1 | $ 111.4 |
Basis Of Presentation
Basis Of Presentation | 9 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis Of Presentation | Basis of Presentation The consolidated financial statements consist of CME Group Inc. (CME Group) and its subsidiaries (collectively, the company), including Chicago Mercantile Exchange Inc. (CME), Board of Trade of the City of Chicago, Inc. (CBOT), New York Mercantile Exchange, Inc. (NYMEX), Commodity Exchange, Inc. (COMEX), CME Clearing Europe Limited (CMECE) and CME Europe Limited (CME Europe). CME, CBOT, NYMEX, COMEX, CMECE and CME Europe and their subsidiaries are referred to collectively as “the exchange” in the notes to the consolidated financial statements. The clearing houses include CME Clearing, which is the U.S. clearing house and a division of CME, and CMECE. The accompanying interim consolidated financial statements have been prepared by CME Group without audit. Certain notes and other information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted. In the opinion of management, the accompanying consolidated financial statements include all normal recurring adjustments considered necessary to present fairly the financial position of the company at September 30, 2015 and December 31, 2014 and the results of operations and cash flows for the periods indicated. Quarterly results are not necessarily indicative of results for any subsequent period. The accompanying consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto in CME Group’s Annual Report on Form 10-K for the year ended December 31, 2014 , filed with the Securities and Exchange Commission (SEC) on February 26, 2015. |
Performance Bonds and Guaranty
Performance Bonds and Guaranty Fund Contributions (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Performance Bonds and Guaranty Fund Contributions [Abstract] | |
Performance Bonds and Guaranty Fund Contributions [Text Block] | Performance Bonds and Guaranty Fund Contributions Performance Bonds and Guaranty Fund Contributions. At September 30, 2015 , performance bonds and guaranty fund contribution assets on the consolidated balance sheets include cash and U.S. Treasury securities with maturity dates of 90 days or less. U.S. Treasury securities are purchased by CME, at its discretion, using cash collateral. The benefits, including interest earned, and risks of ownership accrue to CME. Interest earned is included in investment income on the consolidated statements of income. At September 30, 2015 , the amortized cost and fair value of the U.S. Treasury securities were both $15.1 billion . The U.S. Treasury securities will mature in the fourth quarter of 2015. Performance bonds and guaranty fund contribution assets also include overnight reverse repurchase agreements that were purchased by CME, at its discretion, using cash collateral. The fair value of the overnight securities under the reverse repurchase agreements was $1.8 billion at September 30, 2015 . Clearing House Contract Settlement. CME Clearing and CMECE mark-to-market open positions for all futures and options contracts twice a day (once a day for CME's cleared-only credit default swap and interest rate swap contracts). Based on values derived from the mark-to-market process, CME Clearing and CMECE require payments from clearing firms whose positions have lost value and make payments to clearing firms whose positions have gained value. Under the extremely unlikely scenario of simultaneous default by every clearing firm who has open positions with unrealized losses, the maximum exposure related to positions other than cleared-only credit default and interest rate swap contracts would be one half day of changes in fair value of all open positions, before considering the clearing houses' ability to access defaulting clearing firms' collateral deposits. For CME's cleared-only credit default swap and interest rate swap contracts, the maximum exposure related to CME Clearing's guarantee would be one full day of changes in fair value of all open positions, before considering CME Clearing's ability to access defaulting clearing firms' collateral. During the first nine months of 2015, CME Clearing and CMECE transferred an average of approximately $4.1 billion a day through their clearing systems for settlement from clearing firms whose positions had lost value to clearing firms whose positions had gained value. CME Clearing and CMECE reduce their guarantee exposure through initial and maintenance performance bond requirements and mandatory guaranty fund contributions. The company believes that its guarantee liability is immaterial and therefore has not recorded any liability at September 30, 2015 . |
Intangible Assets And Goodwill
Intangible Assets And Goodwill | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets And Goodwill | Intangible Assets Intangible assets consisted of the following at September 30, 2015 and December 31, 2014 : September 30, 2015 December 31, 2014 (in millions) Assigned Value Accumulated Amortization Net Book Value Assigned Value Accumulated Amortization Net Book Value Amortizable Intangible Assets: Clearing firm, market data and other customer relationships $ 2,838.8 $ (730.7 ) $ 2,108.1 $ 2,838.8 $ (658.8 ) $ 2,180.0 Technology-related intellectual property 29.4 (26.3 ) 3.1 29.4 (23.5 ) 5.9 Other 2.4 (0.9 ) 1.5 2.4 (0.9 ) 1.5 Total amortizable intangible assets $ 2,870.6 $ (757.9 ) 2,112.7 $ 2,870.6 $ (683.2 ) 2,187.4 Indefinite-Lived Intangible Assets: Trade names 450.0 450.0 Total intangible assets – other, net $ 2,562.7 $ 2,637.4 Trading products (1) $ 17,175.3 $ 17,175.3 (1) Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the Commodity Futures Trading Commission (CFTC). Product authorizations from the CFTC have no term limits. Total amortization expense for intangible assets was $24.9 million and $25.3 million for the quarters ended September 30, 2015 and 2014 , respectively. Total amortization expense for intangible assets was $74.8 million and $75.7 million for the nine months ended September 30, 2015 and 2014 , respectively. As of September 30, 2015 , the future estimated amortization expense related to amortizable intangible assets is expected to be as follows: (in millions) Amortization Expense Remainder of 2015 $ 24.7 2016 96.1 2017 95.5 2018 94.7 2019 94.7 2020 94.7 Thereafter 1,612.3 |
Long-Term Investments (Notes)
Long-Term Investments (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Investments, All Other Investments [Abstract] | |
Investments and Other Noncurrent Assets [Text Block] | Long-Term Investments In the first nine months of 2015, the company sold approximately 18.2 million shares of BM&FBOVESPA S.A. (BM&FBOVESPA) and recognized a net gain of $3.4 million within investment income on the consolidated statements of income. As of September 30, 2015, the company owned an approximate 5% interest in BM&FBOVESPA. At September 30, 2015, the fair value and cost basis of the remaining investment in BM&FBOVESPA was $253.7 million and $340.0 million , respectively. Substantially all of the difference between the cost basis and fair value of the investment as of September 30, 2015 represents previous changes in foreign currency exchange rates that are suspended in accumulated other comprehensive income and released into current operations as the investment is sold. |
Debt
Debt | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Debt | Debt In April 2015, the company repaid the $612.5 million fixed rate notes due 2018 and paid a call premium of $60.5 million . As a result of the transaction, the company recognized debt prepayment costs of $61.8 million in the second quarter of 2015, which includes the call premium. Long-term debt consisted of the following at September 30, 2015 and December 31, 2014 : (in millions) September 30, 2015 December 31, 2014 $612.5 million fixed rate notes due March 2018, stated rate of 4.40% (1) $ — $ 611.0 $750.0 million fixed rate notes due September 2022, stated rate of 3.00% (2) 748.4 748.2 $750.0 million fixed rate notes due March 2025, stated rate of 3.00% (3) 744.1 — $750.0 million fixed rate notes due September 2043, stated rate of 5.30% (4) 748.7 748.7 Total long-term debt $ 2,241.2 $ 2,107.9 (1) In February 2010, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 4.46% . (2) In August 2012, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.32% . (3) In December 2014, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.11% . (4) In August 2012, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 4.73% . Long-term debt maturities, at par value, were as follows at September 30, 2015 : (in millions) Par Value 2016 $ — 2017 — 2018 — 2019 — 2020 — Thereafter 2,250.0 |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2015 | |
Loss Contingency [Abstract] | |
Contingencies | Contingencies Legal and Regulatory Matters. In 2008, Fifth Market, Inc. (Fifth Market) filed a complaint against CME Group and CME in the Delaware District Court seeking a permanent injunction against CME's Globex system and unquantified enhanced damages for what the plaintiff alleges is willful infringement of two patents, in addition to costs, expenses and attorneys' fees. The case was stayed pending the outcome of CME's request for reexamination by the U.S. Patent and Trademark Office (USPTO). The reexaminations resulted in some claims being rejected and others being confirmed. In June 2013, the court lifted the stay. The validity of the patents, however, remains subject to further review by the USPTO. CME filed covered business method reviews against both patents for the claims that remain after the reexaminations. All the claims asserted in the litigation have a proceeding instituted against them. The reviews and one reexamination remain under way at the USPTO or are on appeal to the Federal Circuit. Based on its investigation to date and advice from legal counsel, the company believes this suit is without merit and intends to defend itself vigorously against these charges. The Fifth Market legal matter involves an alleged infringement of intellectual property which, due to its nature, involves a potential liability that is uncertain, difficult to quantify and involves a wide range of potential outcomes. We expect the re-examination and the reviews by the USPTO in the Fifth Market matter, including any appeals thereof, to result in a determination of the validity of the patent at issue which we expect will have an impact on the merits of the matter. Given the uncertainty of factors which may potentially impact the resolution of the matter, at this time the company is unable to estimate the reasonably possible loss or range of reasonably possible loss in the unlikely event it were found to be liable at trial in the matter. In February 2013, the CFTC filed suit against NYMEX and two former employees alleging disclosure of confidential customer information in violation of the Commodity Exchange Act. NYMEX’s motion to dismiss was denied in September 2014. Based on its investigation to date and advice from legal counsel, the company believes that it has strong factual and legal defenses to the claim. In the normal course of business, the company discusses matters with its regulators raised during regulatory examinations or otherwise subject to their inquiry and oversight. These matters could result in censures, fines, penalties or other sanctions. Management believes the outcome of any resulting actions will not have a material impact on its consolidated financial position or results of operations. However, the company is unable to predict the outcome or the timing of the ultimate resolution of these matters, or the potential fines, penalties or injunctive or other equitable relief, if any, that may result from these matters. In addition, the company is a defendant in, and has potential for, various other legal proceedings arising from its regular business activities. While the ultimate results of such proceedings against the company cannot be predicted with certainty, the company believes that the resolution of any of these matters on an individual basis will not have a material impact on its consolidated financial position or results of operations. At September 30, 2015 and December 31, 2014 , the company had accrued $3.5 million and $4.3 million , respectively, for legal and regulatory matters that were probable and estimable. Intellectual Property Indemnifications. Certain agreements with customers and other third parties related to accessing the CME platforms; utilizing market data services, and licensing CME SPAN software may contain indemnifications from intellectual property claims that may be made against customers and other third parties as a result of their use of the applicable products and/or services. The potential future claims relating to these indemnifications cannot be estimated and therefore no liability has been recorded. |
Guarantees
Guarantees | 9 Months Ended |
Sep. 30, 2015 | |
Guarantees [Abstract] | |
Guarantees | Guarantees Mutual Offset Agreement. CME and Singapore Exchange Limited (SGX) have a mutual offset agreement with a current term through October 2016. This agreement enables market participants to open a futures position on one exchange and liquidate it on the other. The term of the agreement will automatically renew for a one -year period unless either party provides advance notice of their intent to terminate. CME must maintain U.S. Treasury securities or irrevocable, standby letters of credit as collateral for this agreement. At September 30, 2015 , CME was contingently liable to SGX on letters of credit totaling $710.0 million . Regardless of the collateral, CME guarantees all cleared transactions submitted through SGX and would initiate procedures designed to satisfy these financial obligations in the event of a default, such as the use of performance bonds and guaranty fund contributions of the defaulting clearing firm. The company believes that its guarantee liability is immaterial and therefore has not recorded any liability at September 30, 2015 . Family Farmer and Rancher Protection Fund. In 2012, the company established the Family Farmer and Rancher Protection Fund (the Fund). The Fund is designed to provide payments, up to certain maximum levels, to family farmers, ranchers and other agricultural industry participants who use the company's agricultural commodity products and who suffer losses to their segregated account balances due to their CME clearing member becoming insolvent. Under the terms of the Fund, farmers and ranchers are eligible for up to $25,000 per participant. Farming and ranching cooperatives are eligible for up to $100,000 per cooperative. The Fund was established with a maximum of $100.0 million available for distribution to participants. Since its establishment, the Fund has made payments of approximately $2.0 million , which leaves $98.0 million available for future claims. If, at any time, payments due to participants were to exceed the amount remaining in the fund, payments would be pro-rated. Clearing members and customers must register with the company in advance and provide certain documentation in order to substantiate their eligibility. The company believes that its guarantee liability is immaterial and therefore has not recorded any liability at September 30, 2015 . |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated Other Comprehensive Income The following tables present changes in the accumulated balances for each component of other comprehensive income attributable to CME Group, including current period other comprehensive income and reclassifications out of accumulated other comprehensive income: (in millions) Investment Securities Defined Benefit Plans Derivative Investments Foreign Currency Translation Total Balance at December 31, 2014 $ (22.9 ) $ (31.3 ) $ 62.6 $ (2.2 ) $ 6.2 Other comprehensive income before reclassifications and income tax benefit (expense) (91.0 ) (0.3 ) (4.7 ) (10.0 ) (106.0 ) Amounts reclassified from accumulated other comprehensive income (3.4 ) 2.0 0.9 — (0.5 ) Income tax benefit (expense) 1.2 (0.6 ) 1.5 3.6 5.7 Net current period other comprehensive income attributable to CME Group (93.2 ) 1.1 (2.3 ) (6.4 ) (100.8 ) Balance at September 30, 2015 $ (116.1 ) $ (30.2 ) $ 60.3 $ (8.6 ) $ (94.6 ) (in millions) Investment Securities Defined Benefit Plans Derivative Investments Foreign Currency Translation Total Balance at December 31, 2013 $ 98.9 $ (12.8 ) $ 65.0 $ 0.9 $ 152.0 Other comprehensive income before reclassifications and income tax benefit (expense) (10.7 ) (3.2 ) (1.1 ) (2.7 ) (17.7 ) Amounts reclassified from accumulated other comprehensive income — 0.2 — — 0.2 Income tax benefit (expense) (6.5 ) 1.1 0.4 1.0 (4.0 ) Net current period other comprehensive income attributable to CME Group (17.2 ) (1.9 ) (0.7 ) (1.7 ) (21.5 ) Balance at September 30, 2014 $ 81.7 $ (14.7 ) $ 64.3 $ (0.8 ) $ 130.5 |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | |
Fair Value Measurements | Fair Value Measurements The company uses a three-level classification hierarchy of fair value measurements for disclosure purposes. • Level 1 inputs, which are considered the most reliable evidence of fair value, consist of quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 inputs consist of observable market data, such as quoted prices for similar assets and liabilities in active markets, or inputs other than quoted prices that are directly observable. • Level 3 inputs consist of unobservable inputs which are derived and cannot be corroborated by market data or other entity-specific inputs. Level 1 assets generally include U.S. Treasury securities and investments in publicly traded mutual funds with quoted market prices. In general, the company uses quoted prices in active markets for identical assets to determine the fair value of marketable securities and equity investments. If quoted prices are not available to determine fair value, the company uses other inputs that are directly observable. Assets included in level 2 generally consist of asset-backed securities. Asset-backed securities were measured at fair value based on matrix pricing using prices of similar securities with similar inputs such as maturity dates, interest rates and credit ratings. The company determined the fair value of its contingent consideration liability, considered a level 3 liability, using a discounted cash flow model to calculate the present value of future payouts. The liability was included in level 3 because management used significant unobservable inputs, including a discount rate of 20% and a payout probability of 100% . Significant changes in these inputs, in isolation, would result in a significantly different fair value. Financial assets and liabilities recorded in the consolidated balance sheet as of September 30, 2015 were classified in their entirety based on the lowest level of input that was significant to each asset or liability's fair value measurement. The following tables present financial instruments measured at fair value on a recurring basis: September 30, 2015 (in millions) Level 1 Level 2 Level 3 Total Assets at Fair Value: Marketable securities: U.S. Treasury securities $ 19.2 $ — $ — $ 19.2 Mutual funds 52.8 — — 52.8 Equity securities 0.1 — — 0.1 Asset-backed securities — 0.3 — 0.3 Total Marketable Securities 72.1 0.3 — 72.4 Performance bonds and guaranty fund contributions: U.S. Treasury securities (1) 15,105.0 — — 15,105.0 Equity investments 271.8 — — 271.8 Total Assets at Fair Value $ 15,448.9 $ 0.3 $ — $ 15,449.2 Liabilities at Fair Value: Contingent consideration $ — $ — $ 0.4 $ 0.4 Total Liabilities at Fair Value $ — $ — $ 0.4 $ 0.4 (1) Performance bonds and guaranty fund contributions on the consolidated balance sheet at September 30, 2015 include U.S. Treasury securities purchased with cash collateral. There were no transfers of assets or liabilities between level 1, level 2 and level 3 during the first nine months of 2015 . There were no level 3 assets valued at fair value on a recurring basis during the first nine months of 2015. The following is a reconciliation of level 3 liabilities valued at fair value on a recurring basis during the first nine months of 2015. (in millions) Contingent Consideration Fair value of liability at December 31, 2014 $ 17.7 Realized and unrealized (gains) losses: Included in other expenses 1.4 Settlements (18.7 ) Fair value of liability at September 30, 2015 $ 0.4 There were no level 3 assets or level 3 liabilities valued at fair value on a nonrecurring basis during the first nine months of 2015 . The following presents the estimated fair values of long-term debt notes, which are carried at amortized cost on the consolidated balance sheets. The fair values, which are classified as level 2 under the fair value hierarchy, were estimated using quoted market prices. At September 30, 2015 , the fair values were as follows: (in millions) Fair Value $750.0 million fixed rate notes due September 2022, stated rate of 3.00% $ 753.9 $750.0 million fixed rate notes due March 2025, stated rate of 3.00% 733.8 $750.0 million fixed rates notes due September 2043, stated rate of 5.30% 851.7 |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Basic earnings per share is computed by dividing net income attributable to the company by the weighted average number of shares of all classes of CME Group common stock outstanding for each reporting period. Diluted earnings per share reflects the increase in shares using the treasury stock method to reflect the impact of an equivalent number of shares of common stock if stock options were exercised and restricted stock awards were converted into common stock. Anti-dilutive stock options, restricted stock and performance share awards were as follows for the periods presented: Quarter Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Stock options 432 1,461 432 1,463 Restricted stock and performance shares — 700 538 700 Total 432 2,161 970 2,163 The following table presents the earnings per share calculation for the periods presented: Quarter Ended Nine Months Ended 2015 2014 2015 2014 Net Income Attributable to CME Group (in millions) $ 359.9 $ 290.0 $ 955.3 $ 820.6 Weighted Average Number of Common Shares (in thousands): Basic 336,323 334,424 336,015 334,144 Effect of stock options, restricted stock and performance shares 1,816 1,748 1,789 1,676 Diluted 338,139 336,172 337,804 335,820 Earnings per Common Share Attributable to CME Group: Basic $ 1.07 $ 0.87 $ 2.84 $ 2.46 Diluted 1.06 0.86 2.83 2.44 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events The company has evaluated subsequent events through the date the financial statements were issued and has determined that there are no subsequent events that require disclosure. |
Intangible Assets And Goodwill
Intangible Assets And Goodwill (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Components of intangible assets | Intangible assets consisted of the following at September 30, 2015 and December 31, 2014 : September 30, 2015 December 31, 2014 (in millions) Assigned Value Accumulated Amortization Net Book Value Assigned Value Accumulated Amortization Net Book Value Amortizable Intangible Assets: Clearing firm, market data and other customer relationships $ 2,838.8 $ (730.7 ) $ 2,108.1 $ 2,838.8 $ (658.8 ) $ 2,180.0 Technology-related intellectual property 29.4 (26.3 ) 3.1 29.4 (23.5 ) 5.9 Other 2.4 (0.9 ) 1.5 2.4 (0.9 ) 1.5 Total amortizable intangible assets $ 2,870.6 $ (757.9 ) 2,112.7 $ 2,870.6 $ (683.2 ) 2,187.4 Indefinite-Lived Intangible Assets: Trade names 450.0 450.0 Total intangible assets – other, net $ 2,562.7 $ 2,637.4 Trading products (1) $ 17,175.3 $ 17,175.3 (1) Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the Commodity Futures Trading Commission (CFTC). Product authorizations from the CFTC have no term limits |
Future estimated amortization expense | As of September 30, 2015 , the future estimated amortization expense related to amortizable intangible assets is expected to be as follows: (in millions) Amortization Expense Remainder of 2015 $ 24.7 2016 96.1 2017 95.5 2018 94.7 2019 94.7 2020 94.7 Thereafter 1,612.3 |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule Of Short-Term And Long-Term Debt | Long-term debt consisted of the following at September 30, 2015 and December 31, 2014 : (in millions) September 30, 2015 December 31, 2014 $612.5 million fixed rate notes due March 2018, stated rate of 4.40% (1) $ — $ 611.0 $750.0 million fixed rate notes due September 2022, stated rate of 3.00% (2) 748.4 748.2 $750.0 million fixed rate notes due March 2025, stated rate of 3.00% (3) 744.1 — $750.0 million fixed rate notes due September 2043, stated rate of 5.30% (4) 748.7 748.7 Total long-term debt $ 2,241.2 $ 2,107.9 (1) In February 2010, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 4.46% . (2) In August 2012, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.32% . (3) In December 2014, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 3.11% . (4) In August 2012, the company entered into a forward-starting interest rate swap agreement that modified the interest obligation associated with these notes so that the interest payable on the notes effectively became fixed at a rate of 4.73% . |
Long-term debt maturities at par value | Long-term debt maturities, at par value, were as follows at September 30, 2015 : (in millions) Par Value 2016 $ — 2017 — 2018 — 2019 — 2020 — Thereafter 2,250.0 |
Accumulated Other Comprehensi22
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following tables present changes in the accumulated balances for each component of other comprehensive income attributable to CME Group, including current period other comprehensive income and reclassifications out of accumulated other comprehensive income: (in millions) Investment Securities Defined Benefit Plans Derivative Investments Foreign Currency Translation Total Balance at December 31, 2014 $ (22.9 ) $ (31.3 ) $ 62.6 $ (2.2 ) $ 6.2 Other comprehensive income before reclassifications and income tax benefit (expense) (91.0 ) (0.3 ) (4.7 ) (10.0 ) (106.0 ) Amounts reclassified from accumulated other comprehensive income (3.4 ) 2.0 0.9 — (0.5 ) Income tax benefit (expense) 1.2 (0.6 ) 1.5 3.6 5.7 Net current period other comprehensive income attributable to CME Group (93.2 ) 1.1 (2.3 ) (6.4 ) (100.8 ) Balance at September 30, 2015 $ (116.1 ) $ (30.2 ) $ 60.3 $ (8.6 ) $ (94.6 ) (in millions) Investment Securities Defined Benefit Plans Derivative Investments Foreign Currency Translation Total Balance at December 31, 2013 $ 98.9 $ (12.8 ) $ 65.0 $ 0.9 $ 152.0 Other comprehensive income before reclassifications and income tax benefit (expense) (10.7 ) (3.2 ) (1.1 ) (2.7 ) (17.7 ) Amounts reclassified from accumulated other comprehensive income — 0.2 — — 0.2 Income tax benefit (expense) (6.5 ) 1.1 0.4 1.0 (4.0 ) Net current period other comprehensive income attributable to CME Group (17.2 ) (1.9 ) (0.7 ) (1.7 ) (21.5 ) Balance at September 30, 2014 $ 81.7 $ (14.7 ) $ 64.3 $ (0.8 ) $ 130.5 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | |
Financial instruments measured at fair value on a recurring basis | The following tables present financial instruments measured at fair value on a recurring basis: September 30, 2015 (in millions) Level 1 Level 2 Level 3 Total Assets at Fair Value: Marketable securities: U.S. Treasury securities $ 19.2 $ — $ — $ 19.2 Mutual funds 52.8 — — 52.8 Equity securities 0.1 — — 0.1 Asset-backed securities — 0.3 — 0.3 Total Marketable Securities 72.1 0.3 — 72.4 Performance bonds and guaranty fund contributions: U.S. Treasury securities (1) 15,105.0 — — 15,105.0 Equity investments 271.8 — — 271.8 Total Assets at Fair Value $ 15,448.9 $ 0.3 $ — $ 15,449.2 Liabilities at Fair Value: Contingent consideration $ — $ — $ 0.4 $ 0.4 Total Liabilities at Fair Value $ — $ — $ 0.4 $ 0.4 (1) Performance bonds and guaranty fund contributions on the consolidated balance sheet at September 30, 2015 include U.S. Treasury securities purchased with cash collateral. |
Reconciliation of assets and liabilities valued at fair value on a recurring basis using significant unobservable inputs (level 3) | The following is a reconciliation of level 3 liabilities valued at fair value on a recurring basis during the first nine months of 2015. (in millions) Contingent Consideration Fair value of liability at December 31, 2014 $ 17.7 Realized and unrealized (gains) losses: Included in other expenses 1.4 Settlements (18.7 ) Fair value of liability at September 30, 2015 $ 0.4 |
Fair value of Debt Instruments [Table Text Block] | At September 30, 2015 , the fair values were as follows: (in millions) Fair Value $750.0 million fixed rate notes due September 2022, stated rate of 3.00% $ 753.9 $750.0 million fixed rate notes due March 2025, stated rate of 3.00% 733.8 $750.0 million fixed rates notes due September 2043, stated rate of 5.30% 851.7 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Anti-dilutive stock options, restricted stock and performance share awards were as follows for the periods presented: Quarter Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Stock options 432 1,461 432 1,463 Restricted stock and performance shares — 700 538 700 Total 432 2,161 970 2,163 |
Basic And Diluted Earnings Per Share | The following table presents the earnings per share calculation for the periods presented: Quarter Ended Nine Months Ended 2015 2014 2015 2014 Net Income Attributable to CME Group (in millions) $ 359.9 $ 290.0 $ 955.3 $ 820.6 Weighted Average Number of Common Shares (in thousands): Basic 336,323 334,424 336,015 334,144 Effect of stock options, restricted stock and performance shares 1,816 1,748 1,789 1,676 Diluted 338,139 336,172 337,804 335,820 Earnings per Common Share Attributable to CME Group: Basic $ 1.07 $ 0.87 $ 2.84 $ 2.46 Diluted 1.06 0.86 2.83 2.44 |
Performance Bonds and Guarant25
Performance Bonds and Guaranty Fund Contributions (Details) - USD ($) $ in Millions | 9 Months Ended | |||
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | |
Guarantor Obligations [Line Items] | ||||
Cash and cash equivalents | $ 1,434.3 | $ 1,366.1 | $ 1,087.9 | $ 2,469.7 |
Average Daily Clearing Settlement | 4,100 | |||
US Treasury Securities [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Cash and cash equivalents | 15,100 | |||
Cash and Cash Equivalents, Fair Value Disclosure | 15,100 | |||
Repurchase Agreements [Member] | ||||
Guarantor Obligations [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | $ 1,800 |
Intangible Assets And Goodwil26
Intangible Assets And Goodwill (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Amortization of purchased intangibles | $ 24.9 | $ 25.3 | $ 74.8 | $ 75.7 |
Intangible Assets And Goodwil27
Intangible Assets And Goodwill (Components Of Intangible Assets) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | |||
Indefinite-lived Intangible Assets | $ 2,562.7 | $ 2,637.4 | |
Other Indefinite-lived Intangible Assets | [1] | 17,175.3 | 17,175.3 |
Trade Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Indefinite-lived Intangible Assets | 450 | 450 | |
Clearing Firm, Market Data And Other Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 2,838.8 | 2,838.8 | |
Accumulated amortization | (730.7) | (658.8) | |
Net book value | 2,108.1 | 2,180 | |
Technology-Related Intellectual Property [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 29.4 | 29.4 | |
Accumulated amortization | (26.3) | (23.5) | |
Net book value | 3.1 | 5.9 | |
Total Amortizable Intangible Assets [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 2,870.6 | 2,870.6 | |
Accumulated amortization | (757.9) | (683.2) | |
Net book value | 2,112.7 | 2,187.4 | |
Other Intangible Assets [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 2.4 | 2.4 | |
Accumulated amortization | (0.9) | (0.9) | |
Net book value | $ 1.5 | $ 1.5 | |
[1] | )Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the Commodity Futures Trading Commission (CFTC). Product authorizations from the CFTC have no term limits |
Intangible Assets And Goodwil28
Intangible Assets And Goodwill (Future Estimated Amortization Expense) (Details) $ in Millions | Sep. 30, 2015USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Remainder of 2015 | $ 24.7 |
2,016 | 96.1 |
2,017 | 95.5 |
2,018 | 94.7 |
2,019 | 94.7 |
2,020 | 94.7 |
Thereafter | $ 1,612.3 |
Long-Term Investments (Details)
Long-Term Investments (Details) - USD ($) shares in Millions, $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Investments, All Other Investments [Abstract] | ||
Investment shares sold | 18.2 | |
Gain (Loss) on Sale of Investments | $ 3.4 | $ 0 |
Sale of Stock, Percentage of Ownership after Transaction | 5.00% | |
Investment Owned, at Fair Value | $ 253.7 | |
Investment Owned, at Cost | $ 340 |
Debt (Schedule Of Short-Term An
Debt (Schedule Of Short-Term And Long-Term Debt) (Details) - USD ($) $ in Millions | 1 Months Ended | 9 Months Ended | |||||
Mar. 31, 2015 | Sep. 30, 2013 | Sep. 30, 2012 | Feb. 28, 2010 | Sep. 30, 2015 | Apr. 30, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | |||||||
Long-term debt | $ 2,241.2 | $ 2,107.9 | |||||
Forward starting interest rate swap agreement fixed rate | 3.11% | 4.73% | 3.32% | 4.46% | |||
$612.5 million fixed rate notes due March 2018, interest equal to 4.40% [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term debt | 0 | 611 | |||||
Debt Instrument, Face Amount | $ 612.5 | $ 612.5 | |||||
Debt Instrument, Maturity Date | Mar. 1, 2018 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.40% | ||||||
$750 Million Fixed Rate Notes Due March 2022, Interest Equal To 3.0% [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term debt | $ 748.4 | 748.2 | |||||
Debt Instrument, Face Amount | $ 750 | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2022 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | ||||||
$750.0 Million Fixed Rate Notes Due March 2025, Interest Equal To 3.00% | |||||||
Debt Instrument [Line Items] | |||||||
Long-term debt | $ 744.1 | 0 | |||||
Debt Instrument, Face Amount | $ 750 | ||||||
Debt Instrument, Maturity Date | Mar. 1, 2025 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | ||||||
$750.0 Million Fixed Rate Notes Due March 2043, Interest Equal To 5.3% [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Long-term debt | $ 748.7 | $ 748.7 | |||||
Debt Instrument, Face Amount | $ 750 | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2043 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.30% |
Debt (Schedule Of Maturities Of
Debt (Schedule Of Maturities Of Long-Term Debt) (Details) $ in Millions | Sep. 30, 2015USD ($) |
Debt Disclosure [Abstract] | |
2,016 | $ 0 |
2,017 | 0 |
2,018 | 0 |
2,019 | 0 |
2,020 | 0 |
Thereafter | $ 2,250 |
Debt (Fair Value Of Fixed Rate
Debt (Fair Value Of Fixed Rate Notes) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Apr. 30, 2015 | |
$612.5 million fixed rate notes due March 2018, interest equal to 4.40% [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Face Amount | $ 612.5 | $ 612.5 |
Debt Instrument, Maturity Date | Mar. 1, 2018 | |
$750 Million Fixed Rate Notes Due March 2022, Interest Equal To 3.0% [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Face Amount | $ 750 | |
Debt Instrument, Maturity Date | Sep. 1, 2022 | |
$750.0 Million Fixed Rate Notes Due March 2043, Interest Equal To 5.3% [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Face Amount | $ 750 | |
Debt Instrument, Maturity Date | Sep. 1, 2043 |
Debt Debt (Short-Term Debt) (De
Debt Debt (Short-Term Debt) (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Apr. 30, 2015 | |
Short-term Debt [Line Items] | |||
Gains (Losses) on Extinguishment of Debt | $ (61.8) | $ 0 | |
$612.5 million fixed rate notes due March 2018, interest equal to 4.40% [Member] | |||
Short-term Debt [Line Items] | |||
Debt Instrument, Face Amount | 612.5 | $ 612.5 | |
debt call premium | $ 60.5 | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.40% | ||
Gains (Losses) on Extinguishment of Debt | $ 61.8 | ||
$750.0 Million Fixed Rate Notes Due March 2043, Interest Equal To 5.3% [Member] | |||
Short-term Debt [Line Items] | |||
Debt Instrument, Face Amount | $ 750 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.30% |
Contingencies (Details)
Contingencies (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Loss Contingency [Abstract] | ||
Accrued liability related to all outstanding legal matters | $ 3.5 | $ 4.3 |
Guarantees (Details)
Guarantees (Details) | 9 Months Ended |
Sep. 30, 2015USD ($)years | |
Guarantor Obligations [Line Items] | |
Agreement automatic renewal period (in years) | years | 1 |
Contingent liability to SGX, amount of irrevocable letters of credit | $ 710,000,000 |
Family Farmer and Ranchers Protection Fund [Member] | |
Guarantor Obligations [Line Items] | |
Payment per participant | 25,000 |
Payment per cooperative | 100,000 |
FutureLosses | 100,000,000 |
Payments under Guarantee | 2,000,000 |
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 98,000,000 |
Accumulated Other Comprehensi36
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Balance | $ 20,923.5 | |||
Net unrealized holding gains arising during the period | $ (100.2) | $ (66.6) | (91) | $ (10.7) |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 0 | 0 | (0.3) | (3.2) |
Net unrealized holding losses arising during the period | 0 | 0 | (4.7) | 0 |
Foreign currency translation adjustment | (3.4) | (6.9) | (10) | (2.7) |
Reclassification adjustment for gains included in investment income | (2.6) | 0 | 3.4 | 0 |
Amortization of net actuarial (gains) losses included in pension expense | 0.6 | 0 | 2 | 0.2 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, before Tax | 0.3 | 0.4 | 0.9 | 1.1 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | 0 | 5 | (1.2) | 6.5 |
Defined benefit plans, income tax benefit (expense) | 0.2 | 0 | 0.6 | (1.1) |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax | (1.1) | (2.6) | (3.6) | (1) |
Other Comprehensive Income (Loss), Net of Tax | (99.7) | (76.2) | (100.8) | (21.5) |
Balance | 21,376.8 | 21,376.8 | ||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Balance | 6.2 | 152 | ||
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | (0.5) | 0.2 | ||
Comprehensive Income Before Reclassification Adjustments | (106) | (17.7) | ||
Comprehensive Income, Tax | 5.7 | (4) | ||
Other Comprehensive Income (Loss), Net of Tax | (100.8) | (21.5) | ||
Balance | (94.6) | 130.5 | (94.6) | 130.5 |
Accumulated Translation Adjustment [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Balance | (2.2) | 0.9 | ||
Reclassification adjustment for loss included in net income | 0 | 0 | ||
Foreign currency translation adjustment | (10) | (2.7) | ||
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax | 3.6 | 1 | ||
Other Comprehensive Income (Loss), Net of Tax | (6.4) | (1.7) | ||
Balance | (8.6) | (0.8) | (8.6) | (0.8) |
Investment Securities [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Balance | (22.9) | 98.9 | ||
Net unrealized holding gains arising during the period | (91) | (10.7) | ||
Reclassification adjustment for gains included in investment income | (3.4) | 0 | ||
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | 1.2 | (6.5) | ||
Other Comprehensive Income (Loss), Net of Tax | (93.2) | (17.2) | ||
Balance | (116.1) | 81.7 | (116.1) | 81.7 |
Derivative Financial Instruments, Assets [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Balance | 62.6 | 65 | ||
Net unrealized holding losses arising during the period | (4.7) | (1.1) | ||
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, before Tax | 0.9 | 0 | ||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | 1.5 | 0.4 | ||
Other Comprehensive Income (Loss), Net of Tax | (2.3) | (0.7) | ||
Balance | 60.3 | 64.3 | 60.3 | 64.3 |
Pension Plans, Defined Benefit [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Balance | (31.3) | (12.8) | ||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | (0.3) | (3.2) | ||
Amortization of net actuarial (gains) losses included in pension expense | 2 | 0.2 | ||
Defined benefit plans, income tax benefit (expense) | (0.6) | 1.1 | ||
Other Comprehensive Income (Loss), Net of Tax | 1.1 | (1.9) | ||
Balance | $ (30.2) | $ (14.7) | $ (30.2) | $ (14.7) |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Instruments Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Good Faith and Margin Deposits with Broker-Dealers | $ 49,321.2 | $ 40,566.8 |
Investment Owned, at Fair Value | 253.7 | |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Marketable Securities | 72.4 | |
Good Faith and Margin Deposits with Broker-Dealers | 15,105 | |
Investment Owned, at Fair Value | 271.8 | |
Total Assets at Fair Value | 15,449.2 | |
Contingent consideration at Fair Value | 0.4 | |
Total liabilities at fair value | 0.4 | |
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities at Fair Value | 19.2 | |
Fair Value, Measurements, Recurring [Member] | Asset Backed Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities at Fair Value | 0.3 | |
Fair Value, Measurements, Recurring [Member] | Exchange Traded Funds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading Securities at Fair Value | 52.8 | |
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities at Fair Value | 0.1 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Marketable Securities | 72.1 | |
Good Faith and Margin Deposits with Broker-Dealers | 15,105 | |
Investment Owned, at Fair Value | 271.8 | |
Total Assets at Fair Value | 15,448.9 | |
Contingent consideration at Fair Value | 0 | |
Total liabilities at fair value | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities at Fair Value | 19.2 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset Backed Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities at Fair Value | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Exchange Traded Funds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading Securities at Fair Value | 52.8 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities at Fair Value | 0.1 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Marketable Securities | 0.3 | |
Good Faith and Margin Deposits with Broker-Dealers | 0 | |
Investment Owned, at Fair Value | 0 | |
Total Assets at Fair Value | 0.3 | |
Contingent consideration at Fair Value | 0 | |
Total liabilities at fair value | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities at Fair Value | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset Backed Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities at Fair Value | 0.3 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Exchange Traded Funds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading Securities at Fair Value | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities at Fair Value | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Marketable Securities | 0 | |
Good Faith and Margin Deposits with Broker-Dealers | 0 | |
Investment Owned, at Fair Value | 0 | |
Total Assets at Fair Value | 0 | |
Contingent consideration at Fair Value | 0.4 | $ 17.7 |
Total liabilities at fair value | 0.4 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities at Fair Value | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset Backed Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities at Fair Value | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Exchange Traded Funds [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading Securities at Fair Value | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities at Fair Value | $ 0 |
Fair Value Measurements (Reconc
Fair Value Measurements (Reconciliation Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ (7) | $ 0 | |
Fair Value, Measurements, Recurring [Member] | |||
Contingent consideration at Fair Value | 0.4 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Contingent consideration at Fair Value | 0.4 | $ 17.7 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Included in operating expense | 1.4 | ||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ (18.7) |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value Measurements Narrative (Detail) (Details) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Valuation model discount rate | 20.00% |
Valuation Model Probability High Range | 100.00% |
Fair Value Measurements Fair 40
Fair Value Measurements Fair Value of Debt Instruments (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Apr. 30, 2015 | |
$750.0 Million Fixed Rate Notes Due March 2043, Interest Equal To 5.3% [Member] | ||
Debt Instrument, Face Amount | $ 750 | |
Debt Instrument, Maturity Date | Sep. 1, 2043 | |
Debt Instrument, Interest Rate, Stated Percentage | 5.30% | |
$750.0 Million Fixed Rate Notes Due March 2025, Interest Equal To 3.00% | ||
Debt Instrument, Face Amount | $ 750 | |
Debt Instrument, Maturity Date | Mar. 1, 2025 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | |
$750 Million Fixed Rate Notes Due March 2022, Interest Equal To 3.0% [Member] | ||
Debt Instrument, Face Amount | $ 750 | |
Debt Instrument, Maturity Date | Sep. 1, 2022 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | |
$612.5 million fixed rate notes due March 2018, interest equal to 4.40% [Member] | ||
Debt Instrument, Face Amount | $ 612.5 | $ 612.5 |
Debt Instrument, Maturity Date | Mar. 1, 2018 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.40% | |
Fair Value, Inputs, Level 2 [Member] | $750.0 Million Fixed Rate Notes Due March 2043, Interest Equal To 5.3% [Member] | ||
Debt Instrument, Fair Value Disclosure | $ 851.7 | |
Fair Value, Inputs, Level 2 [Member] | $750.0 Million Fixed Rate Notes Due March 2025, Interest Equal To 3.00% | ||
Debt Instrument, Fair Value Disclosure | 733.8 | |
Fair Value, Inputs, Level 2 [Member] | $750 Million Fixed Rate Notes Due March 2022, Interest Equal To 3.0% [Member] | ||
Debt Instrument, Fair Value Disclosure | $ 753.9 |
Earnings Per Share Anti-Dilutiv
Earnings Per Share Anti-Dilutive Securities (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 432 | 2,161 | 970 | 2,163 |
Stock Options [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 432 | 1,461 | 432 | 1,463 |
Restricted Stock [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 700 | 538 | 700 |
Earnings Per Share (Net Income
Earnings Per Share (Net Income Attributable To CME Group) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Net Income Attributable to CME Group | $ 359.9 | $ 290 | $ 955.3 | $ 820.6 |
Basic (in shares) | 336,323 | 334,424 | 336,015 | 334,144 |
Dilutive Securities, Effect on EPS | 1,816 | 1,748 | 1,789 | 1,676 |
Diluted (in shares) | 338,139 | 336,172 | 337,804 | 335,820 |
Earnings per common share, basic (in dollars per share) | $ 1.07 | $ 0.87 | $ 2.84 | $ 2.46 |
Earnings per common share, diluted (in dollars per share) | $ 1.06 | $ 0.86 | $ 2.83 | $ 2.44 |
Retained Earnings [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Net Income Attributable to CME Group | $ 955.3 | $ 820.6 |