Intercontinental Exchange (ICE) 10-Q 29 Oct 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Oct. 26, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-36198
Entity Registrant name	INTERCONTINENTAL EXCHANGE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-2286804
Entity Address, Address Line One	5660 New Northside Drive
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30328
City Area Code	770
Local Phone Number	857-4700
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	ICE
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		561,283,772
Entity Central Index Key	0001571949
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 610	$ 841
Short-term restricted cash and cash equivalents	993	943
Customer accounts receivable, net of allowance for doubtful accounts of $25 and $8, respectively	1,310	988
Margin deposits, guaranty funds and delivery contracts receivable	85,900	64,987
Prepaid expenses and other current assets	324	220
Total current assets	89,137	67,979
Property and equipment, net	1,693	1,536
Other non-current assets:
Goodwill	21,243	13,342
Other intangible assets, net	14,507	10,258
Long-term restricted cash and cash equivalents	408	404
Other non-current assets	1,092	974
Total other non-current assets	37,250	24,978
Total assets	128,080	94,493
Current liabilities:
Accounts payable and accrued liabilities	594	505
Section 31 fees payable	53	138
Accrued salaries and benefits	274	291
Deferred revenue	267	129
Short-term debt	2,463	2,569
Margin deposits, guaranty funds and delivery contracts payable	85,900	64,987
Other current liabilities	135	197
Total current liabilities	89,686	68,816
Non-current liabilities:
Non-current deferred tax liability, net	3,567	2,314
Long-term debt	14,869	5,250
Accrued employee benefits	187	198
Non-current operating lease liability	315	281
Other non-current liabilities	310	270
Total non-current liabilities	19,248	8,313
Total liabilities	108,934	77,129
Commitments and contingencies
Redeemable non-controlling interest in consolidated subsidiaries	94	78
Intercontinental Exchange, Inc. stockholders’ equity:
Preferred stock, $0.01 par value; 100 shares authorized; none issued or outstanding at September 30, 2020 and December 31, 2019	0	0
Common stock, $0.01 par value; 1,500 shares authorized; 628 and 607 issued at September 30, 2020 and December 31, 2019, respectively, and 561 and 554 shares outstanding at September 30, 2020 and December 31, 2019, respectively	6	6
Treasury stock, at cost; 67 and 53 shares, respectively	(5,198)	(3,879)
Additional paid-in capital	13,804	11,742
Retained earnings	10,682	9,629
Accumulated other comprehensive loss	(273)	(243)
Total Intercontinental Exchange, Inc. stockholders’ equity	19,021	17,255
Non-controlling interest in consolidated subsidiaries	31	31
Total equity	19,052	17,286
Total liabilities and equity	$ 128,080	$ 94,493

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Allowance for doubtful accounts	$ 25	$ 8
Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	100,000,000	100,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,500,000,000	1,500,000,000
Common stock, issued (in shares)	628,000,000	607,000,000
Common stock, outstanding (in shares)	561,000,000	554,000,000
Treasury stock (in shares)	67,000,000	53,000,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Total revenues	$ 1,930	$ 1,663	$ 6,011	$ 4,880
Transaction-based expenses:
Transaction-based expenses	519	327	1,646	976
Total revenues, less transaction-based expenses	1,411	1,336	4,365	3,904
Operating expenses:
Compensation and benefits	298	261	849	768
Professional services	37	35	100	97
Acquisition-related transaction and integration costs	76	0	90	1
Technology and communication	131	126	388	346
Rent and occupancy	19	17	59	52
Selling, general and administrative	43	33	132	116
Depreciation and amortization	180	158	494	473
Total operating expenses	784	630	2,112	1,853
Operating income	627	706	2,253	2,051
Other income (expense):
Interest income	1	8	9	27
Interest expense	(89)	(72)	(245)	(214)
Other income, net	44	(2)	75	30
Other income (expense), net	(44)	(66)	(161)	(157)
Income before income tax expense	583	640	2,092	1,894
Income tax expense	189	103	512	387
Net income	394	537	1,580	1,507
Net income attributable to non-controlling interest	(4)	(8)	(17)	(22)
Net income attributable to Intercontinental Exchange, Inc.	$ 390	$ 529	$ 1,563	$ 1,485
Earnings per share attributable to Intercontinental Exchange, Inc. common stockholders:
Basic (in dollars per share)	$ 0.71	$ 0.95	$ 2.85	$ 2.64
Diluted (in dollars per share)	$ 0.71	$ 0.94	$ 2.83	$ 2.62
Weighted average common shares outstanding:
Basic (in shares)	548	559	549	563
Diluted (in shares)	551	563	552	566
Transaction and clearing, net
Revenues:
Total revenues	$ 1,155	$ 929	$ 3,726	$ 2,698
Data services
Revenues:
Total revenues	589	553	1,727	1,652
Listings
Revenues:
Total revenues	111	114	334	336
Other revenues
Revenues:
Total revenues	75	67	224	194
Section 31 fees
Transaction-based expenses:
Transaction-based expenses	145	105	465	274
Cash liquidity payments, routing and clearing
Transaction-based expenses:
Transaction-based expenses	$ 374	$ 222	$ 1,181	$ 702

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 394	$ 537	$ 1,580	$ 1,507
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax expense of $1 for both the nine and three months ended September 30, 2020 and tax benefit of $1 for both the nine and three months ended September 30, 2019	48	(39)	(30)	(32)
Change in equity method investment	0	0	0	(1)
Other comprehensive income (loss)	48	(39)	(30)	(33)
Comprehensive income	442	498	1,550	1,474
Comprehensive income attributable to non-controlling interest	(4)	(8)	(17)	(22)
Comprehensive income attributable to Intercontinental Exchange, Inc.	$ 438	$ 490	$ 1,533	$ 1,452

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax expense (benefit)	$ 1	$ (1)	$ 1	$ (1)

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity and Redeemable Non-Controlling Interest - USD ($) $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income/(Loss)	Non- Controlling Interest in Consolidated Subsidiaries	Cumulative Effect, Period Of Adoption, Adjustment	Cumulative Effect, Period Of Adoption, AdjustmentRetained Earnings
Beginning Balance (in shares) at Dec. 31, 2018		604,000,000	35,000,000
Beginning Balance at Dec. 31, 2018	$ 17,231	$ 6	$ (2,354)	$ 11,547	$ 8,317	$ (315)	$ 30
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(33)					(33)
Exercise of common stock options (in shares)		1,000,000
Exercise of common stock options	22			22
Repurchases of common stock (in shares)			(14,000,000)
Repurchases of common stock	(1,120)		$ (1,120)
Payments relating to treasury shares	(64)		$ (64)
Stock-based compensation	109			109
Issuance under the employee stock purchase plan	28			28
Issuance of restricted stock (in shares)		2,000,000
Distributions of profits	(29)						(29)
Dividends paid to stockholders	(467)				(467)
Net income (loss) attributable to non-controlling interest	1				(22)		23
Net income	1,507				1,507
Ending Balance (in shares) at Sep. 30, 2019		607,000,000	49,000,000
Ending Balance at Sep. 30, 2019	17,185	$ 6	$ (3,538)	11,706	9,335	(348)	24
Redeemable non-controlling interest, Beginning balance at Dec. 31, 2018	71
Increase (Decrease) in Temporary Equity [Roll Forward]
Stock-based compensation	3
Net income (loss) attributable to non-controlling interest	(2)
Redeemable non-controlling interest, Ending balance at Sep. 30, 2019	72
Beginning Balance (in shares) at Dec. 31, 2018		604,000,000	35,000,000
Beginning Balance at Dec. 31, 2018	$ 17,231	$ 6	$ (2,354)	11,547	8,317	(315)	30
Ending Balance (in shares) at Dec. 31, 2019	607,000,000	607,000,000	53,000,000
Ending Balance at Dec. 31, 2019	$ 17,286	$ 6	$ (3,879)	11,742	9,629	(243)	31	$ (10)	$ (10)
Redeemable non-controlling interest, Beginning balance at Dec. 31, 2018	71
Redeemable non-controlling interest, Ending balance at Dec. 31, 2019	$ 78
Increase (Decrease) in Temporary Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Beginning Balance (in shares) at Jun. 30, 2019		606,000,000	45,000,000
Beginning Balance at Jun. 30, 2019	$ 17,146	$ 6	$ (3,194)	11,651	8,961	(309)	31
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(39)					(39)
Exercise of common stock options (in shares)		1,000,000
Exercise of common stock options	5			5
Repurchases of common stock (in shares)			(4,000,000)
Repurchases of common stock	(340)		$ (340)
Payments relating to treasury shares	(4)		$ (4)
Stock-based compensation	36			36
Issuance under the employee stock purchase plan	14			14
Distributions of profits	(15)						(15)
Dividends paid to stockholders	(155)				(155)
Net income (loss) attributable to non-controlling interest	0				(8)		8
Net income	537				537
Ending Balance (in shares) at Sep. 30, 2019		607,000,000	49,000,000
Ending Balance at Sep. 30, 2019	17,185	$ 6	$ (3,538)	11,706	9,335	(348)	24
Redeemable non-controlling interest, Beginning balance at Jun. 30, 2019	72
Increase (Decrease) in Temporary Equity [Roll Forward]
Stock-based compensation	1
Net income (loss) attributable to non-controlling interest	(1)
Redeemable non-controlling interest, Ending balance at Sep. 30, 2019	$ 72
Beginning Balance (in shares) at Dec. 31, 2019	607,000,000	607,000,000	53,000,000
Beginning Balance at Dec. 31, 2019	$ 17,286	$ 6	$ (3,879)	11,742	9,629	(243)	31	$ (10)	$ (10)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(30)					(30)
Stock consideration issued for acquisition (in shares)		18,000,000
Stock consideration issued for acquisition	$ 1,895			1,895
Exercise of common stock options (in shares)	592,000	1,000,000
Exercise of common stock options	$ 26			26
Repurchases of common stock (in shares)			(14,000,000)
Repurchases of common stock	(1,247)		$ (1,247)
Payments relating to treasury shares	(72)		$ (72)
Stock-based compensation	105			105
Issuance under the employee stock purchase plan	33			33
Warrants issued to minority interest holders	3			3
Issuance of restricted stock (in shares)		2,000,000
Distributions of profits	(31)						(31)
Dividends paid to stockholders	(500)				(500)
Redeemable non-controlling interest	0
Issuance of non-controlling interest	9						9
Net income (loss) attributable to non-controlling interest	5				(17)		22
Net income	$ 1,580				1,580
Ending Balance (in shares) at Sep. 30, 2020	628,000,000	628,000,000	67,000,000
Ending Balance at Sep. 30, 2020	$ 19,052	$ 6	$ (5,198)	13,804	10,682	(273)	31
Redeemable non-controlling interest, Beginning balance at Dec. 31, 2019	78
Increase (Decrease) in Temporary Equity [Roll Forward]
Stock-based compensation	9
Warrants issued to minority interest holders	2
Redeemable non-controlling interest	10
Net income (loss) attributable to non-controlling interest	(5)
Redeemable non-controlling interest, Ending balance at Sep. 30, 2020	94
Beginning Balance (in shares) at Jun. 30, 2020		609,000,000	65,000,000
Beginning Balance at Jun. 30, 2020	16,994	$ 6	$ (5,050)	11,856	10,462	(321)	41
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	48					48
Stock consideration issued for acquisition (in shares)		18,000,000
Stock consideration issued for acquisition	1,895			1,895
Exercise of common stock options (in shares)		1,000,000
Exercise of common stock options	4			4
Repurchases of common stock (in shares)			(2,000,000)
Repurchases of common stock	(148)		$ (148)
Stock-based compensation	32			32
Issuance under the employee stock purchase plan	17			17
Distributions of profits	(16)						(16)
Dividends paid to stockholders	(170)				(170)
Net income (loss) attributable to non-controlling interest	2				(4)		6
Net income	$ 394				394
Ending Balance (in shares) at Sep. 30, 2020	628,000,000	628,000,000	67,000,000
Ending Balance at Sep. 30, 2020	$ 19,052	$ 6	$ (5,198)	$ 13,804	$ 10,682	$ (273)	$ 31
Redeemable non-controlling interest, Beginning balance at Jun. 30, 2020	95
Increase (Decrease) in Temporary Equity [Roll Forward]
Stock-based compensation	1
Net income (loss) attributable to non-controlling interest	(2)
Redeemable non-controlling interest, Ending balance at Sep. 30, 2020	$ 94

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities:
Net income	$ 1,580	$ 1,507
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	494	473
Stock-based compensation	105	100
Deferred taxes	67	(52)
Other	(48)	(34)
Changes in assets and liabilities:
Customer accounts receivable	(228)	(97)
Other current and non-current assets	(43)	22
Section 31 fees payable	(85)	(70)
Deferred revenue	120	114
Other current and non-current liabilities	(147)	(81)
Total adjustments	235	375
Net cash provided by operating activities	1,815	1,882
Investing activities:
Capital expenditures	(114)	(87)
Capitalized software development costs	(154)	(116)
Cash paid for acquisitions, net of cash acquired	(9,439)	(352)
Return of capital from equity method investment	0	44
Proceeds from investments, net	5	(1)
Net cash used in investing activities	(9,702)	(512)
Financing activities:
Proceeds from debt facilities, net	9,606	11
Repayments of debt facilities	(1,258)	0
Proceeds from/(redemption of) commercial paper, net	1,149	367
Repurchases of common stock	(1,247)	(1,120)
Dividends to stockholders	(500)	(467)
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises	(72)	(64)
Other	31	22
Net cash provided by (used in) financing activities	7,709	(1,251)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	1	(2)
Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents	(177)	117
Cash, cash equivalents, and restricted cash and cash equivalents, beginning of period	2,188	1,872
Cash, cash equivalents, and restricted cash and cash equivalents, end of period	2,011	1,989
Supplemental cash flow disclosure:
Common stock issued for acquisition	1,895	0
Cash paid for income taxes	558	457
Cash paid for interest	$ 209	$ 214

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Nature of Business and Organization We are a leading provider of marketplace infrastructure, data services and technology solutions to a broad range of customers including financial institutions, corporations and government entities. Through our markets, clearinghouses, listings, data and technology offerings, we provide comprehensive workflow solutions that enable our customers to manage risk, raise capital and operate their businesses more efficiently. We operate regulated marketplaces for listing, trading and clearing of a broad array of derivatives contracts and securities across major asset classes including: energy and agricultural commodities, metals, interest rates, equities, exchange-traded funds, or ETFs, credit derivatives, digital assets, bonds and currencies. In addition, we offer comprehensive data services to support the trading, investment, risk management and connectivity needs of customers around the world and across asset classes. We also offer technology solutions that support the United States, or U.S., residential mortgage industry from application and loan origination, through to final settlement. We operate marketplaces and provide data services in the U.S., United Kingdom, or U.K., European Union, or EU, Canada and Singapore, and offer technology and data solutions to the U.S. mortgage industry.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation We prepared the accompanying unaudited consolidated financial statements in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, pursuant to the rules and regulations of the Securities and Exchange Commission, or SEC, regarding interim financial reporting. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by U.S. GAAP for complete financial statements and should be read in conjunction with our audited consolidated financial statements and related notes thereto for the year ended December 31, 2019. The accompanying unaudited consolidated financial statements reflect all adjustments that are, in our opinion, necessary for a fair presentation of results for the interim periods presented. We believe that these adjustments are of a normal recurring nature. Preparing financial statements in conformity with U.S. GAAP requires us to make certain estimates and assumptions that affect the amounts that are reported in our consolidated financial statements and accompanying disclosures. Actual amounts could differ from those estimates. The results of operations for the nine and three months ended September 30, 2020 are not necessarily indicative of the results to be expected for any future period or the full fiscal year. These statements include the accounts of our wholly-owned and controlled subsidiaries. All intercompany balances and transactions between us and our wholly-owned and controlled subsidiaries have been eliminated in consolidation. For consolidated subsidiaries in which our ownership is less than 100% and for which we have control over the assets and liabilities and the management of the entity, the outside stockholders’ interests are shown as non-controlling interests. Where outside owners hold an option to require us to repurchase their interests, these amounts are shown as redeemable non-controlling interests and are subject to remeasurement when repurchase is probable. Recently Adopted Accounting Pronouncements Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements ASU No. 2016-13, Financial Instruments - Measurement of Credit Losses on Financial Instruments, applies to all financial instruments carried at amortized cost including held-to-maturity debt securities and accounts receivable. It requires financial assets carried at amortized cost to be presented at the net amount expected to be collected and requires entities to record credit losses through an allowance for credit losses on available-for-sale debt securities. We adopted on January 1, 2020 on a modified retrospective basis. We evaluated this guidance to determine the impact on our consolidated financial statements. Based on our assessment, we concluded the impact of adoption of this guidance was not material. Further disclosures and details on our adoption are discussed below. ASU 2017-04, Simplifying the Test for Goodwill Impairment, removes the second step of the goodwill impairment test, which requires a hypothetical purchase price allocation if the fair value of a reporting unit is less than its carrying value. Goodwill impairment will now be measured using the difference between the carrying value and the fair value of the reporting unit, and any loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. We adopted on January 1, 2020 on a prospective basis. We evaluated this guidance to determine the impact on our consolidated financial statements. Based on our assessment, we concluded the impact of adoption of this guidance was not material. The fair values of our reporting units have been greater than their corresponding carrying values in recent years. Changes in future projections, market conditions, and other factors may cause a change in the excess of fair value of our reporting units over their corresponding carrying values. ASU 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract , helps entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement by providing guidance for determining when an arrangement includes a software license and is solely a hosted service. Customers will now apply the same criteria for capitalizing implementation costs as they would for a software license arrangement. The guidance also prescribes the balance sheet, income statement, and cash flow classification of the capitalized implementation costs and related amortization expense, and requires additional quantitative and qualitative disclosures. We adopted on January 1, 2020 and apply the rules prospectively to eligible costs incurred on or after the effective date. We evaluated this guidance to determine the impact on our consolidated financial statements. Based on our assessment, we concluded the impact of adoption of this guidance was not material. ASU No. 2019-12, Simplifying the Accounting for Income Taxes , eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It clarifies that single-member limited liability companies, and other similar disregarded entities that are not subject to income tax, are not required to recognize an allocation of consolidated income tax expense in their separate financial statements. Further, it simplifies the accounting for franchise taxes, enacted changes in tax laws or rates and transactions that result in a step-up in the tax basis of goodwill. Effective for fiscal years beginning after December 15, 2020 with early adoption permitted. We elected early adoption and adopted on January 1, 2020. We evaluated this guidance to determine the impact on our consolidated financial statements. Based on our assessment, we concluded the impact of adoption of this guidance was not material. Adoption of ASU 2016-13, Financial Instruments - Measurement of Credit Losses on Financial Instruments On January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Measurement of Credit Losses on Financial Instruments , or ASU 2016-13. This standard requires the application of a current expected credit loss, or CECL, impairment model to financial assets measured at amortized cost, including accounts receivable and certain off-balance-sheet credit exposures. The standard also amends the impairment model for available-for-sale debt securities requiring entities to record credit losses through an allowance account. The CECL model requires an entity to estimate its lifetime expected credit loss and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. Adoption of the standard requires more timely recognition of credit losses and credit loss estimates are required to use historical information, current information and reasonable and supportable forecasts of future events. We adopted ASU 2016-13 using the modified retrospective approach through a cumulative-effect adjustment to retained earnings on January 1, 2020. ASU 2016-13 primarily impacted the calculation of our allowance for doubtful accounts on accounts receivable utilizing the expected credit losses model. Our adoption of ASU 2016-13 was subject to the same internal controls over financial reporting that we apply to our consolidated financial statements and the impact of our adoption was not material. We do not currently hold available-for-sale debt securities, off-balance-sheet credit exposures, or other material financial assets impacted by the standard, besides those mentioned below. We considered our material financial assets within scope, including our cash equivalents, short-term and long-term restricted cash equivalents as well as our clearing members' cash equivalent and reverse repurchase receivables, and determined that such assets have a de minimis risk of credit loss. We invest our cash and clearing members' cash by placing it in highly-rated government securities, primarily U.S. Treasury securities and other sovereign debt with original maturities of less than three months which we consider to be cash equivalents, or into reverse repurchase agreements, referred to as reverse repos, with primarily overnight maturities. Reverse repos are valued daily and are subject to collateral maintenance provisions whereby the counterparty must provide additional collateral if the value of the underlying securities lose value, in an amount sufficient to maintain collateralization of at least 102%. Therefore, as of and for the nine months ended September 30, 2020 we have not recorded a credit loss for these financial assets. Based on the high turnover and collectability of our accounts receivable, as well as the monthly billing process for the majority of revenue, we did not experience a significant increase in the loss provision recognized upon adoption of the CECL model. Accounts receivable in our futures and clearing businesses have minimal credit risk as all clearing members are pre-screened, collection periods occur within one month and the services to customers are completed almost instantaneously. Our accounts receivable related to revenues from market data, cash trading, listings, technology services, mortgage technology, CDS transactions and bilateral OTC energy transactions subject us to credit losses, but we expeditiously limit our risk of credit loss by taking action such as terminating trading or transaction access, terminating public listings or ceasing to distribute data for entities with delinquent accounts. The concentration of risk on our accounts receivable is also mitigated by the high quality and the large number of entities comprising our customer base. We estimated our allowance for doubtful accounts using an aging method, disaggregated based on major revenue stream categories as well as other unique revenue stream factors. The factors for pooling our accounts receivable balances were specific to each revenue stream based on our risk assessment, past patterns of collectability, our knowledge of the business, and customer-specific situations. We apply estimated reserve percentages to the risk pools identified, which are derived from historical write-off factors that are based on the accounts receivable balance’s delinquency status and adjusted as appropriate for our reasonable and supportable estimates of current and future economic conditions. We believe that historical write-off trends provide a basis for estimating future patterns of losses because there have been no significant changes in the mix or risk characteristics of the accounts receivable revenue stream pool populations from the risk pools used to calculate our historical write-off rates. At each measurement date we reassess whether our accounts receivable pools continue to exhibit similar risk characteristics. We then determine if assets need to be isolated further as part of their own specific line item reserve due to specific events, such as a customer’s inability to meet its financial obligations (i.e. customer disputes, highly unresponsive customers, delinquency of the receivable, or other indicators of credit deterioration of customers). Lastly, the CECL standard is forward-looking and requires us to factor reasonable and supportable economic expectations into our allowance estimate for the asset's entire expected life, which is generally less than one year. A reconciliation of the beginning and ending amount of allowance for doubtful accounts is as follows for the nine months ended September 30, 2020 (in millions): Allowance for Doubtful Accounts Beginning balance as of December 31, 2019 $ 8 Impact of adoption of ASU 2016-13 13 Bad debt expense 11 Charge-offs (7) Ending balance as of September 30, 2020 $ 25 The impact of adoption of ASU 2016-13

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions Ellie Mae On September 4, 2020, we acquired Ellie Mae Intermediate Holdings I, Inc., and its indirect wholly owned subsidiary, Ellie Mae, Inc. (collectively, Ellie Mae), for aggregate consideration of $11.4 billion from private equity firm Thoma Bravo. Ellie Mae is a cloud-based technology solution provider for the mortgage finance industry. Through its digital lending platform, Ellie Mae provides technology solutions to participants in the mortgage supply chain, including over 3,000 customers and thousands of partners and investors who participate on its open network. Originators rely on Ellie Mae to securely manage the exchange of data across the mortgage ecosystem to enable the origination of mortgages while adhering to various local, state and federal compliance requirements. Ellie Mae is a part of ICE Mortgage Technology and is included in our Trading and Clearing segment as of September 30, 2020. From the acquisition date through September 30, 2020, Ellie Mae revenues of $75 million, which are included in our transaction and clearing revenues, and operating expenses of $56 million were recorded for the nine and three months ended September 30, 2020. The purchase price consisted of $9.5 billion in cash, as adjusted for $335 million of cash and cash equivalents held by Ellie Mae on the date of acquisition, and $1.9 billion, or 18.4 million shares of our common stock, based on our stock price on the acquisition date. ICE funded the cash portion of the purchase price with net proceeds from our offering of new senior notes in August 2020, together with the issuance of commercial paper and borrowings under a new senior unsecured term loan facility (Note 8). We are currently reviewing the impact of this acquisition under Accounting Standards Codification 805- Business Combinations . Any additional disclosures would not be practical for the nine and three months ending September 30, 2020. Such disclosures, if any, will be included in our Annual Report on Form 10-K for the fiscal year ending December 31, 2020. The purchase price has been allocated to the net tangible and identifiable intangible assets and liabilities based on the preliminary respective estimated fair values on the date of acquisition. The excess of purchase price over the net tangible and identifiable intangible assets has been recorded as goodwill. Goodwill represents potential revenue synergies related to new product development, various expense synergies and opportunities to enter new markets. The preliminary purchase price allocation is as follows (in millions): Preliminary Purchase Price Allocation Cash and cash equivalents $ 335 Property and equipment 151 Goodwill 7,688 Identifiable intangibles 4,431 Other assets and liabilities, net 54 Deferred tax liabilities on identifiable intangibles (1,241) Total preliminary purchase price allocation $ 11,418 In performing the preliminary purchase price allocation, we considered, among other factors, the intended future use of acquired assets, analysis of historical financial performance and estimates of future performance of the Ellie Mae business. We have not yet obtained all of the information related to the fair value of the acquired assets and liabilities. The primary areas of the preliminary purchase price allocation that are not yet finalized relate to the valuation of the identifiable intangible assets, income taxes, and certain other tangible assets and liabilities. The allocation of the purchase price will be finalized upon the completion of the analysis of the acquired assets and liabilities within one year of the date of acquisition. The following table sets forth the components of the preliminary intangible assets associated with the acquisition as of September 30, 2020 (in millions, except years): Acquisition-Date Preliminary Fair Value Accumulated Amortization Net Book Value Useful Life (Years) Customer relationships $ 3,125 $ (11) $ 3,114 10 to 20 Backlog 300 (3) 297 5 to 7 Trademark/Tradenames 200 (1) 199 5 to 20 Developed Technology 739 (8) 731 7 In-process Research & Development 67 — 67 N/A Total $ 4,431 $ (23) $ 4,408 Bridge2 Solutions On February 21, 2020, we acquired Bridge2 Solutions, a leading provider of loyalty solutions for merchants and consumers. Bridge2 Solutions enables some of the world’s leading brands to engage customers and drive loyalty. It powers incentive and employee perk programs for companies across a wide spectrum of industries. The purchase price has been allocated to the net tangible and identifiable intangible assets and liabilities based on the respective estimated fair values on the date of acquisition. The excess of purchase price over the net tangible and identifiable intangible assets has been recorded as goodwill. Identified intangible assets primarily consist of customer relationships and developed technology, which have been assigned useful lives of twelve years and seven years, respectively. Bridge2 Solutions is included in our Trading and Clearing segment as part of the Bakkt ecosystem. To fund the acquisition of Bridge2 Solutions, Bakkt completed a capital call for $300 million in funding by ICE and the minority investors. This acquisition-related capital call triggered a market condition of certain Bakkt equity incentive awards, and as a result, during the nine months ended September 30, 2020 we incurred a $10 million compensation expense related to these awards which has been recorded as an acquisition-related cost.

Investments

Investments	9 Months Ended
	Sep. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments Our equity investments, including our investments in Euroclear plc, or Euroclear, and Coinbase Global, Inc., among others, are subject to valuation under ASU 2016-01, Financial Instruments- Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . See Note 14 for a discussion of our determination of fair value of our financial instruments. Investment in OCC We own a 40% interest in the Options Clearing Corporation, or OCC, which is regulated by the SEC and the Commodity Futures Trading Commission, or CFTC, that we treat as an equity method investment. As of September 30, 2020, the OCC is our only equity method investment and is included in other non-current assets in the accompanying consolidated balance sheet. We recognized $84 million and $51 million during the nine months ended September 30, 2020 and 2019, respectively, and $49 million and $15 million during the three months ended September 30, 2020 and 2019, respectively, of equity earnings as our share of the OCC's estimated profits, which is included in other income. Included within the amounts recognized during the nine and three months ended September 30, 2020, is a $36 million cumulative adjustment to increase our equity earnings for our share of the OCC's estimated profits due to an increase in the OCC’s 2020 transaction revenues. On February 13, 2019, the SEC disapproved the OCC capital plan that had been established in 2015. Following the SEC disapproval, the OCC also announced that it would not be providing a refund to clearing members or declaring a dividend to shareholders for the year ended December 31, 2018, which resulted in higher reported OCC 2018 net income than we had estimated. Therefore, during the nine months ended September 30, 2019, we adjusted equity earnings in the OCC by $19 million in other income to reflect our share of the OCC's 2018 net income. Refer to Note 4 to our consolidated financial statements included in our 2019 Form 10-K for additional details on our OCC investment. Investment in BIDS We hold a 9% ownership interest in BIDS Trading, LP, or BIDS, which we treat as an equity investment subject to valuation under ASU 2016-01 (Note 14). BIDS is a registered broker-dealer and the operator of the BIDS Alternative Trading System. In October 2020, Cboe Global Markets announced its intent to purchase BIDS. Details have not been made publicly available, other than that the sale is expected to close in 2021, at which time we will record our financial statement impact.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Substantially all of our revenues are considered to be revenues from contracts with customers. The related accounts receivable balances are recorded in our balance sheets as customer accounts receivable. We do not have obligations for warranties, returns or refunds to customers, other than rebates, which are settled each period and therefore do not result in variable consideration. We do not have significant revenue recognized from performance obligations that were satisfied in prior periods, and we do not have any transaction price allocated to unsatisfied performance obligations other than in our deferred revenue. Deferred revenue represents our contract liabilities related to our annual, original and other listings revenues as well as certain data, clearing and mortgage services and other revenues. See Note 7 for our discussion of deferred revenue balances, activity, and expected timing of recognition. We have elected not to provide disclosures about the transaction price allocated to unsatisfied performance obligations if contract durations are less than one year, or if we are not required to estimate the transaction price. For all of our contracts with customers, except for listings and certain data, clearing and mortgage services, our performance obligations are short term in nature and there is no significant variable consideration. In addition, we have elected the practical expedient of excluding sales taxes from transaction prices. We have assessed the costs incurred to obtain or fulfill a contract with a customer and determined them to be immaterial. Certain judgments and estimates are used in the identification and timing of satisfaction of performance obligations and the related allocation of transaction price. We believe that these represent a faithful depiction of the transfer of services to our customers. Refer to Note 5 to our consolidated financial statements included in our 2019 Form 10-K where our primary revenue contract classifications are described in detail. 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: Trading and Clearing Segment Data and Listings Segment Total Consolidated Nine Months Ended September 30, 2020: Transaction and clearing, net $ 3,726 $ — $ 3,726 Data services — 1,727 1,727 Listings — 334 334 Other revenues 224 — 224 Total revenues 3,950 2,061 6,011 Transaction-based expenses 1,646 — 1,646 Total revenues, less transaction-based expenses $ 2,304 $ 2,061 $ 4,365 Timing of Revenue Recognition Services transferred at a point in time $ 1,982 $ — $ 1,982 Services transferred over time 322 2,061 2,383 Total revenues, less transaction-based expenses $ 2,304 $ 2,061 $ 4,365 Trading and Clearing Segment Data and Listings Segment Total Consolidated Nine Months Ended September 30, 2019: Transaction and clearing, net $ 2,698 $ — $ 2,698 Data services — 1,652 1,652 Listings — 336 336 Other revenues 194 — 194 Total revenues 2,892 1,988 4,880 Transaction-based expenses 976 — 976 Total revenues, less transaction-based expenses $ 1,916 $ 1,988 $ 3,904 Timing of Revenue Recognition Services transferred at a point in time $ 1,653 $ — $ 1,653 Services transferred over time 263 1,988 2,251 Total revenues, less transaction-based expenses $ 1,916 $ 1,988 $ 3,904 Trading and Clearing Segment Data and Listings Segment Total Consolidated Three Months Ended September 30, 2020: Transaction and clearing, net $ 1,155 $ — $ 1,155 Data services — 589 589 Listings — 111 111 Other revenues 75 — 75 Total revenues 1,230 700 1,930 Transaction-based expenses 519 — 519 Total revenues, less transaction-based expenses $ 711 $ 700 $ 1,411 Timing of Revenue Recognition Services transferred at a point in time $ 595 $ — $ 595 Services transferred over time 116 700 816 Total revenues, less transaction-based expenses $ 711 $ 700 $ 1,411 Trading and Clearing Segment Data and Listings Segment Total Consolidated Three Months Ended September 30, 2019: Transaction and clearing, net $ 929 $ — $ 929 Data services — 553 553 Listings — 114 114 Other revenues 67 — 67 Total revenues 996 667 1,663 Transaction-based expenses 327 — 327 Total revenues, less transaction-based expenses $ 669 $ 667 $ 1,336 Timing of Revenue Recognition Services transferred at a point in time $ 578 $ — $ 578 Services transferred over time 91 667 758 Total revenues, less transaction-based expenses $ 669 $ 667 $ 1,336 The Trading and Clearing segment revenues above include $209 million and $188 million for the nine months ended September 30, 2020 and 2019, respectively, and $57 million and $66 million for the three months ended September 30, 2020 and 2019, respectively, for services transferred over time related to risk management of open interest performance obligations. A majority of these performance obligations are performed over a short period of time of one month or less. Beginning in the second quarter of 2019, we have reflected amounts owed under certain third-party revenue share arrangements as technology and communication operating expenses rather than as had been previously recorded net within transaction and clearing revenues. These are included within our Trading and Clearing segment. Our contract liabilities, or deferred revenue, represent consideration received that is yet to be recognized as revenue. Total deferred revenue was $360 million as of September 30, 2020, including $267 million in current deferred revenue and $93 million in other non-current liabilities. The changes in our deferred revenue during the nine months ended September 30, 2020 are as follows (in millions): Annual Listings Revenues Original Listings Revenues Other Listings Revenues Data Services and Other Revenues Mortgage Technology Total Deferred revenue balance at December 31, 2019 $ — $ 19 $ 94 $ 88 $ — $ 201 Additions 384 9 34 367 25 819 Amortization (288) (15) (31) (326) — (660) Deferred revenue balance at September 30, 2020 $ 96 $ 13 $ 97 $ 129 $ 25 $ 360 The changes in our deferred revenue during the nine months ended September 30, 2019 are as follows (in millions): Annual Listings Revenues Original Listings Revenues Other Listings Revenues Data Services and Other Revenues Total Deferred revenue balance at December 31, 2018 $ — $ 25 $ 100 $ 92 $ 217 Additions 387 11 30 300 728 Amortization (289) (17) (30) (277) (613) Deferred revenue balance at September 30, 2019 $ 98 $ 19 $ 100 $ 115 $ 332 Included in the amortization recognized during the nine months ended September 30, 2020 is $92 million related to the deferred revenue balance as of January 1, 2020. Included in the amortization recognized for the nine months ended September 30, 2019 is $94 million related to the deferred revenue balance as of January 1, 2019. As of September 30, 2020, the remaining deferred revenue balance will be recognized over the period of time we satisfy our performance obligations as described in Note 5. Deferred revenue for mortgage technology is related to Ellie Mae and has been included as of September 30, 2020 following our September 2020 acquisition of Ellie Mae.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The following is a summary of the activity in the goodwill balance for the nine months ended September 30, 2020 (in millions): Goodwill balance at December 31, 2019 $ 13,342 Acquisitions 7,907 Foreign currency translation (11) Other activity, net 5 Goodwill balance at September 30, 2020 $ 21,243 The following is a summary of the activity in the other intangible assets balance for the nine months ended September 30, 2020 (in millions): Other intangible assets balance at December 31, 2019 $ 10,258 Acquisitions 4,498 Foreign currency translation (13) Amortization of other intangible assets (236) Other intangible assets balance at September 30, 2020 $ 14,507

Deferred Revenue

Deferred Revenue	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Deferred Revenue	Revenue Recognition Substantially all of our revenues are considered to be revenues from contracts with customers. The related accounts receivable balances are recorded in our balance sheets as customer accounts receivable. We do not have obligations for warranties, returns or refunds to customers, other than rebates, which are settled each period and therefore do not result in variable consideration. We do not have significant revenue recognized from performance obligations that were satisfied in prior periods, and we do not have any transaction price allocated to unsatisfied performance obligations other than in our deferred revenue. Deferred revenue represents our contract liabilities related to our annual, original and other listings revenues as well as certain data, clearing and mortgage services and other revenues. See Note 7 for our discussion of deferred revenue balances, activity, and expected timing of recognition. We have elected not to provide disclosures about the transaction price allocated to unsatisfied performance obligations if contract durations are less than one year, or if we are not required to estimate the transaction price. For all of our contracts with customers, except for listings and certain data, clearing and mortgage services, our performance obligations are short term in nature and there is no significant variable consideration. In addition, we have elected the practical expedient of excluding sales taxes from transaction prices. We have assessed the costs incurred to obtain or fulfill a contract with a customer and determined them to be immaterial. Certain judgments and estimates are used in the identification and timing of satisfaction of performance obligations and the related allocation of transaction price. We believe that these represent a faithful depiction of the transfer of services to our customers. Refer to Note 5 to our consolidated financial statements included in our 2019 Form 10-K where our primary revenue contract classifications are described in detail. 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: Trading and Clearing Segment Data and Listings Segment Total Consolidated Nine Months Ended September 30, 2020: Transaction and clearing, net $ 3,726 $ — $ 3,726 Data services — 1,727 1,727 Listings — 334 334 Other revenues 224 — 224 Total revenues 3,950 2,061 6,011 Transaction-based expenses 1,646 — 1,646 Total revenues, less transaction-based expenses $ 2,304 $ 2,061 $ 4,365 Timing of Revenue Recognition Services transferred at a point in time $ 1,982 $ — $ 1,982 Services transferred over time 322 2,061 2,383 Total revenues, less transaction-based expenses $ 2,304 $ 2,061 $ 4,365 Trading and Clearing Segment Data and Listings Segment Total Consolidated Nine Months Ended September 30, 2019: Transaction and clearing, net $ 2,698 $ — $ 2,698 Data services — 1,652 1,652 Listings — 336 336 Other revenues 194 — 194 Total revenues 2,892 1,988 4,880 Transaction-based expenses 976 — 976 Total revenues, less transaction-based expenses $ 1,916 $ 1,988 $ 3,904 Timing of Revenue Recognition Services transferred at a point in time $ 1,653 $ — $ 1,653 Services transferred over time 263 1,988 2,251 Total revenues, less transaction-based expenses $ 1,916 $ 1,988 $ 3,904 Trading and Clearing Segment Data and Listings Segment Total Consolidated Three Months Ended September 30, 2020: Transaction and clearing, net $ 1,155 $ — $ 1,155 Data services — 589 589 Listings — 111 111 Other revenues 75 — 75 Total revenues 1,230 700 1,930 Transaction-based expenses 519 — 519 Total revenues, less transaction-based expenses $ 711 $ 700 $ 1,411 Timing of Revenue Recognition Services transferred at a point in time $ 595 $ — $ 595 Services transferred over time 116 700 816 Total revenues, less transaction-based expenses $ 711 $ 700 $ 1,411 Trading and Clearing Segment Data and Listings Segment Total Consolidated Three Months Ended September 30, 2019: Transaction and clearing, net $ 929 $ — $ 929 Data services — 553 553 Listings — 114 114 Other revenues 67 — 67 Total revenues 996 667 1,663 Transaction-based expenses 327 — 327 Total revenues, less transaction-based expenses $ 669 $ 667 $ 1,336 Timing of Revenue Recognition Services transferred at a point in time $ 578 $ — $ 578 Services transferred over time 91 667 758 Total revenues, less transaction-based expenses $ 669 $ 667 $ 1,336 The Trading and Clearing segment revenues above include $209 million and $188 million for the nine months ended September 30, 2020 and 2019, respectively, and $57 million and $66 million for the three months ended September 30, 2020 and 2019, respectively, for services transferred over time related to risk management of open interest performance obligations. A majority of these performance obligations are performed over a short period of time of one month or less. Beginning in the second quarter of 2019, we have reflected amounts owed under certain third-party revenue share arrangements as technology and communication operating expenses rather than as had been previously recorded net within transaction and clearing revenues. These are included within our Trading and Clearing segment. Our contract liabilities, or deferred revenue, represent consideration received that is yet to be recognized as revenue. Total deferred revenue was $360 million as of September 30, 2020, including $267 million in current deferred revenue and $93 million in other non-current liabilities. The changes in our deferred revenue during the nine months ended September 30, 2020 are as follows (in millions): Annual Listings Revenues Original Listings Revenues Other Listings Revenues Data Services and Other Revenues Mortgage Technology Total Deferred revenue balance at December 31, 2019 $ — $ 19 $ 94 $ 88 $ — $ 201 Additions 384 9 34 367 25 819 Amortization (288) (15) (31) (326) — (660) Deferred revenue balance at September 30, 2020 $ 96 $ 13 $ 97 $ 129 $ 25 $ 360 The changes in our deferred revenue during the nine months ended September 30, 2019 are as follows (in millions): Annual Listings Revenues Original Listings Revenues Other Listings Revenues Data Services and Other Revenues Total Deferred revenue balance at December 31, 2018 $ — $ 25 $ 100 $ 92 $ 217 Additions 387 11 30 300 728 Amortization (289) (17) (30) (277) (613) Deferred revenue balance at September 30, 2019 $ 98 $ 19 $ 100 $ 115 $ 332 Included in the amortization recognized during the nine months ended September 30, 2020 is $92 million related to the deferred revenue balance as of January 1, 2020. Included in the amortization recognized for the nine months ended September 30, 2019 is $94 million related to the deferred revenue balance as of January 1, 2019. As of September 30, 2020, the remaining deferred revenue balance will be recognized over the period of time we satisfy our performance obligations as described in Note 5. Deferred revenue for mortgage technology is related to Ellie Mae and has been included as of September 30, 2020 following our September 2020 acquisition of Ellie Mae.

Debt

Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt Disclosure	Debt Our total debt, including short-term and long-term debt, consisted of the following as of September 30, 2020 and December 31, 2019 (in millions): As of September 30, 2020 As of December 31, 2019 Debt: Short-term debt: Commercial Paper $ 2,460 $ 1,311 2020 Senior Notes (2.75% senior unsecured notes due December 1, 2020) — 1,248 Other short-term debt 3 10 Total short-term debt 2,463 2,569 Long-term debt: 2022 Term Loan 747 — 2022 Senior Notes (2.35% senior unsecured notes due September 15, 2022) 498 497 2023 Senior Notes (floating rate senior unsecured notes due June 15, 2023) 1,244 — 2023 Senior Notes (0.70% senior unsecured notes due June 15, 2023) 994 — 2023 Senior Notes (3.45% senior unsecured notes due September 21, 2023) 398 398 2023 Senior Notes (4.00% senior unsecured notes due October 15, 2023) 795 794 2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025) 1,245 1,244 2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027) 496 496 2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028) 593 592 2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030) 1,231 — 2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032) 1,481 — 2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040) 1,229 — 2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048) 1,230 1,229 2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050) 1,219 — 2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060) 1,469 — Total long-term debt 14,869 5,250 Total debt $ 17,332 $ 7,819 Credit Facilities On August 21, 2020, we agreed with the lenders under our $3.4 billion senior unsecured revolving credit facility, or the Credit Facility, to extend the maturity date of the Credit Facility to August 21, 2025, among other items. We also exercised our option to increase the amount of the Credit Facility to $3.7 billion which reduced our future capacity to increase our borrowings under the Credit Facility to $650 million, subject to the consent of the lenders funding the increase and certain other conditions. We incurred new debt issuance costs of $9 million relating to the Credit Facility and these costs are represented in the accompanying consolidated balance sheet as other non-current assets and will be amortized over the remaining life of the Credit Facility. The commitments under the Credit Facility will automatically reduce to $3.6 billion on August 9, 2023. No amounts were outstanding under the Credit Facility as of September 30, 2020. As of September 30, 2020, of the $3.7 billion that is currently available for borrowing under the Credit Facility, $2.5 billion is required to back-stop the amount outstanding under our U.S. dollar commercial paper program, or the Commercial Paper Program, and $171 million is required to support certain broker-dealer and other subsidiary commitments. The amount required to back-stop the amounts outstanding under the Commercial Paper Program will fluctuate as we increase or decrease our commercial paper borrowings. The remaining $1.0 billion is available for working capital and general corporate purposes including, but not limited to, acting as a back-stop to future increases in the amounts outstanding under the Commercial Paper Program. On August 21, 2020, we entered into a $750 million 18-month senior unsecured delayed draw term loan facility with a maturity date of February 21, 2022. We borrowed in full under the facility on September 3, 2020. Interest on borrowings under the term loan facility initially bear interest on the principal amount outstanding at the London Interbank Offered Rate, or LIBOR, plus an applicable margin, currently equal to 1.125%. We have the option to prepay the facility in whole or in part at any time. The proceeds from borrowings under this term loan facility were used to fund a portion of the purchase price for the Ellie Mae acquisition. Our ICE India subsidiary maintains a $20 million line of credit for its general corporate purposes. As of September 30, 2020, ICE India had borrowed $3 million, which is reflected as “other short-term debt” in the table above. Commercial Paper Program Our Commercial Paper Program is currently backed by the borrowing capacity available under the Credit Facility, as described above. The effective interest rate of commercial paper issuances does not materially differ from short-term interest rates, which fluctuate due to market conditions and as a result may impact our interest expense. During the nine months ended September 30, 2020, we had net issuances of $1.1 billion under the Commercial Paper Program that were primarily used to fund a portion of the purchase price for the Ellie Mae acquisition. Commercial paper notes of $2.5 billion with original maturities ranging from one Senior Notes Issued in August 2020 On August 20, 2020, we issued $6.5 billion in aggregate principal amount of new senior notes, comprised of $1.25 billion in aggregate principal amount of floating rate senior notes due in 2023, $1.0 billion in aggregate principal amount of 0.70% senior notes due in 2023, $1.5 billion in aggregate principal amount of 1.85% senior notes due in 2032, $1.25 billion in aggregate principal amount of 2.65% senior notes due in 2040, and $1.5 billion in aggregate principal amount of 3.00% senior notes due in 2060 (collectively, the August 2020 Notes). We used the net proceeds from the offering to fund a portion of the purchase price for the Ellie Mae acquisition. We incurred debt issuance costs of $55 million relating to the issuance of the August 2020 Notes and these costs are presented in the accompanying consolidated balance sheet as a deduction from the carrying amount of the related debt liability and will be amortized over the remaining term of each series of the August 2020 Notes. The August 2020 Notes contain affirmative and negative covenants, including, but not limited to, certain redemption rights, limitations on liens and indebtedness and limitations on certain mergers, sales, dispositions and lease-back transactions. Senior Notes Issued in May 2020 On May 26, 2020, we issued $2.5 billion in aggregate principal amount of new senior notes. The senior notes comprise $1.25 billion in aggregate principal amount of 2.10% senior notes due in 2030 and $1.25 billion in aggregate principal amount of 3.00% senior notes due in 2050 (collectively, the May 2020 Notes). We used the net proceeds from the offering of the May 2020 Notes for general corporate purposes, including to fund the redemption of our $1.25 billion aggregate principal amount of 2.75% senior notes due in December 2020, which were redeemed in accordance with their terms on June 25, 2020, and to pay down a portion of our commercial paper outstanding. In connection with our issuance of the May 2020 Notes and our early redemption of the 2.75% senior notes due in December 2020, we recorded an extinguishment payment of $14 million that includes both a make-whole redemption payment and duplicative interest. These costs are included in interest expense in our consolidated statements of income for the nine months ended September 30, 2020. We incurred debt issuance costs of $23 million relating to the issuance of the May 2020 Notes and these costs are presented in the accompanying consolidated balance sheet as a deduction from the carrying amount of the related debt liability and will be amortized over the remaining term of each series of the May 2020 Notes. The May 2020 Notes contain affirmative and negative covenants, including, but not limited to, certain redemption rights, limitations on liens and indebtedness and limitations on certain mergers, sales, dispositions and lease-back transactions.

Shared-Based Compensation

Shared-Based Compensation	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Share-Based Compensation	Share-Based Compensation We currently sponsor employee and director stock option, restricted stock and employee stock purchase plans. Stock options and restricted stock are granted at the discretion of the Compensation Committee of our Board of Directors, or Board, based on the estimated fair value on the date of grant. The fair value of the stock options and restricted stock on the date of grant is recognized as expense over the vesting period, net of forfeitures. The non-cash compensation expenses recognized in our consolidated statements of income for stock options, restricted stock and under our employee stock purchase plan, net of amounts classified as capitalized software, were $105 million and $100 million for the nine months ended September 30, 2020 and 2019, respectively, and $32 million and $36 million for the three months ended September 30, 2020 and 2019, respectively. This includes the expense related to the Bakkt Incentive Units, described below. Stock Option Plans The following is a summary of our stock option activity: Number of Options Weighted Average Outstanding at December 31, 2019 3,501 $ 51.87 Granted 413 92.63 Exercised (592) 43.11 Forfeited (13) 67.00 Outstanding at September 30, 2020 3,309 58.48 Details of stock options outstanding as of September 30, 2020 were as follows: Number of Options Weighted Average Weighted Average Aggregate Vested or expected to vest 3,309 $58.48 6.1 $138 Exercisable 2,407 $49.62 5.1 $121 Details of stock options exercised are as follows: Nine Months Ended September 30, Three Months Ended September 30, Options exercised: 2020 2019 2020 2019 Total intrinsic value of options exercised (in millions) $ 29 $ 25 $ 7 $ 7 As of September 30, 2020, there were $10 million in total unrecognized compensation costs related to stock options, which are expected to be recognized over a weighted average period of 1.6 years as the stock options vest. We use the Black-Scholes option pricing model to value our stock option awards. During the nine months ended September 30, 2020 and 2019, we used the assumptions in the table below to compute the value: Nine Months Ended September 30, Assumptions: 2020 2019 Risk-free interest rate 1.46% 2.49% Expected life in years 5.8 5.9 Expected volatility 20% 20% Expected dividend yield 1.30% 1.44% Estimated weighted-average fair value of options granted per share $16.65 $15.45 The risk-free interest rate is based on the zero-coupon U.S. Treasury yield curve in effect at the date of grant. The expected life is derived from historical and anticipated future exercise patterns. Expected volatility is based on historical volatility data of our stock. Restricted Stock Plans Restricted shares are used as an incentive to attract and retain qualified employees and to increase stockholder returns with actual performance linked to both short and long-term stockholder return as well as retention objectives. We issue awards which may contain a combination of time, performance and/or market conditions. The grant date fair value of each award is based on the closing stock price of our stock at the date of grant. For time-based restricted stock, we recognize expense ratably over the vesting period, which is typically three years, net of forfeitures. In February 2020, we reserved a maximum of 0.9 million restricted shares for potential issuance as performance-based restricted shares to certain of our employees. The number of shares ultimately granted under this award will be based on our actual financial performance as compared to financial performance targets set by our Board and the Compensation Committee for the year ending December 31, 2020, and will also be subject to a market condition reduction based on how our 2020 total stockholder return, or TSR, compares to that of the S&P 500 Index. The maximum compensation expense to be recognized under these performance-based restricted shares is $82 million if the maximum financial performance target is met and all 0.9 million shares vest. The compensation expense to be recognized under these performance-based restricted shares will be $41 million if the target financial performance is met, which would result in 0.5 million shares vesting. For these awards with performance conditions, we recognize expense on an accelerated basis over the three-year vesting period based on our quarterly assessment of the probable 2020 actual financial performance as compared to the 2020 financial performance targets. As of September 30, 2020, our best estimate is that the financial performance level will be above target for 2020. Based on this assessment, we recorded non-cash compensation expense of $21 million and $8 million for the nine and three months ended September 30, 2020, respectively, related to these awards and the remaining $33 million in non-cash compensation expense will be recorded on an accelerated basis over the remaining vesting period, including $8 million which will be recorded over the remainder of 2020. We also issue awards with a market condition but no performance condition. The fair value of these awards is estimated based on a simulation of various outcomes and includes inputs such as our stock price on the grant date, the valuation of historical awards with market conditions, the relatively low likelihood that the market condition will affect the number of shares granted (as the market condition only affects shares granted in excess of certain financial performance targets), and our expectation of achieving the financial performance targets. The following is a summary of nonvested restricted shares under all plans discussed above for the nine months ended September 30, 2020: Number of Weighted Average Nonvested at December 31, 2019 3,728 $ 68.87 Granted 1,464 93.18 Vested (1,986) 64.94 Forfeited (83) 77.04 Nonvested at September 30, 2020 3,123 82.55 Performance-based restricted shares have been presented in the table above to reflect the actual shares issued based on the achievement of past performance targets, also considering the impact of any market conditions. Nonvested performance-based restricted shares granted are presented in the table above at the target number of restricted shares that would vest if the performance targets are met. Nine Months Ended September 30, 2020 2019 Time-based restricted stock units granted (1) 891 975 Total fair value of restricted stock vested under all restricted stock plans $ 180 $ 166 (1) The remaining shares granted are performance-based. As of September 30, 2020, there were $143 million in total unrecognized compensation costs related to time-based and performance-based restricted stock. These costs are expected to be recognized over a weighted-average period of 1.5 years as the restricted stock vests. These unrecognized compensation costs assume that a target performance level will be met on the performance-based restricted shares granted in February 2020. Bakkt Incentive Units We sponsor the Bakkt Equity Incentive Plan under which Bakkt issues various Bakkt preferred, common and phantom, or participation, equity unit awards. These awards were made to certain employees and board members of Bakkt. The units are unvested at the issuance date, are subject to the vesting terms in the award agreements and upon vesting are converted into Bakkt equity or cash. During the nine months ended September 30, 2020, we issued additional preferred, common and participation unit awards as well as converted certain existing participation unit awards into common unit awards. During the nine months ended September 30, 2020, the $300 million capital call related to the acquisition of Bridge2 Solutions triggered a market condition of certain of these Bakkt equity incentive awards. The market condition is based on numerous possible Bakkt transaction or event scenarios established on the original date of grant, each of which have a fixed fair market value. Over the life of these awards, we are required to estimate the most likely outcome and reflect the cumulative financial statement impact of any changes between outcomes. As a result, during the nine months ended September 30, 2020, we incurred a $10 million compensation expense related to these awards that has been recorded as an acquisition-related cost.

Equity

Equity	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Equity	Equity Stock Repurchase Program In December 2019, our Board approved an aggregate of $2.4 billion for future repurchases of our common stock with no fixed expiration date that became effective on January 1, 2020. The $2.4 billion replaced the previous amount approved by the Board. During the nine months ended September 30, 2020, we repurchased 10.4 million shares of our outstanding common stock at a cost of $948 million under our Rule 10b5-1 trading plan and 3.2 million shares at a cost of $299 million on the open market during an open trading period. As of September 30, 2020, up to $1.2 billion capacity remains from the Board authorization for repurchases of our common stock. We fund repurchases from our operating cash flow or borrowings under our debt facilities or our Commercial Paper Program. Repurchases may be made from time to time on the open market, through established trading plans, in privately-negotiated transactions or otherwise, in accordance with all applicable securities laws, rules and regulations. We may discontinue stock repurchases at any time and may amend or terminate a Rule 10b5-1 trading plan at any time or enter into additional plans. Prior to early August 2020, we had a Rule 10b5-1 trading plan that governed some of the repurchases of our shares of common stock, but in connection with the Ellie Mae acquisition, we discontinued stock repurchases and terminated our Rule 10b5-1 trading plan. The approval of our Board for the share repurchases does not obligate us to acquire any particular amount of our common stock. In addition, our Board may increase or decrease the amount available for repurchases from time to time. Dividends During the nine months ended September 30, 2020 and 2019, we declared and paid cash dividends per share of $0.90 and $0.825, respectively, for an aggregate payout of $500 million and $467 million, respectively. During the three months ended September 30, 2020 and 2019, we declared and paid cash dividends per share of $0.30 and $0.275, respectively, for an aggregate payout of $170 million and $155 million, respectively. The declaration of dividends is subject to the discretion of our Board, and may be affected by various factors, including our future earnings, financial condition, capital requirements, levels of indebtedness, credit ratings, our current and future planned strategic growth initiatives and other considerations that our Board deem relevant. Our Board has adopted a quarterly dividend declaration policy providing that the declaration of any dividends will be determined quarterly by the Board or the Audit Committee, taking into account such factors as our evolving business model, prevailing business conditions and our financial results and capital requirements, without a predetermined annual net income payout ratio. Accumulated Other Comprehensive Income (Loss) The following tables present changes in the accumulated balances for each component of other comprehensive income (loss) (in millions): Changes in Accumulated Other Comprehensive Income (Loss) by Component Foreign currency translation adjustments Comprehensive income from equity method investment Employee benefit plans adjustments Total Balance, as of December 31, 2019 $ (177) $ 1 $ (67) $ (243) Other comprehensive income (loss) (29) — — (29) Income tax benefit (expense) (1) — — (1) Net current period other comprehensive income (loss) (30) — — (30) Balance, as of September 30, 2020 $ (207) $ 1 $ (67) $ (273) Changes in Accumulated Other Comprehensive Income (Loss) by Component Foreign currency translation adjustments Comprehensive income from equity method investment Employee benefit plans adjustments Total Balance, as of June 30, 2020 $ (255) $ 1 $ (67) $ (321) Other comprehensive income (loss) 49 — — 49 Income tax benefit (expense) (1) — — (1) Net current period other comprehensive income (loss) 48 — — 48 Balance, as of September 30, 2020 $ (207) $ 1 $ (67) $ (273) Changes in Accumulated Other Comprehensive Income (Loss) by Component Foreign currency translation adjustments Comprehensive income from equity method investment Employee benefit plans adjustments Total Balance, as of December 31, 2018 $ (227) $ 2 $ (90) $ (315) Other comprehensive income (loss) (33) (1) — (34) Income tax benefit (expense) 1 — — 1 Net current period other comprehensive income (loss) (32) (1) — (33) Balance, as of September 30, 2019 $ (259) $ 1 $ (90) $ (348) Changes in Accumulated Other Comprehensive Income (Loss) by Component Foreign currency translation adjustments Comprehensive income from equity method investment Employee benefit plans adjustments Total Balance, as of June 30, 2019 $ (220) $ 1 $ (90) $ (309) Other comprehensive income (loss) (40) — — (40) Income tax benefit (expense) 1 — — 1 Net current period other comprehensive income (loss) (39) — — (39) Balance, as of September 30, 2019 $ (259) $ 1 $ (90) $ (348)

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate was 24% and 20% for the nine months ended September 30, 2020 and 2019, respectively, and 32% and 16% for the three months ended September 30, 2020 and 2019, respectively. The effective tax rates for the nine and three months ended September 30, 2020 are higher than the effective tax rates for the comparable periods in 2019 primarily due to U.K. tax law changes enacted in July 2020, partially offset by favorable state apportionment changes as a result of our acquisition of Ellie Mae, as well as favorable changes in certain international tax provisions as part of the U.S. Federal Tax Cuts and Jobs Act, or TCJA, during the three months ended September 30, 2019. In 2015 and 2016, the U.K. enacted corporate income tax rate reductions from 19% to 17% to be effective prospectively on April 1, 2020 and we recorded associated deferred tax benefits in those years. In July 2020, the U.K. enacted a reinstatement of the U.K. corporate income tax rate back to 19%, effective April 1, 2020. As a result, we revalued our U.K. deferred tax assets and liabilities back to the rate of 19% and recorded an additional $65 million deferred tax expense during the three months ended September 30, 2020. We also reflected the rate change in our estimated annual effective tax rate during the three months ended September 30, 2020. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, was enacted and certain income tax related relief was provided under the CARES Act. There is no material impact of the CARES Act on our income tax provision for the nine and three months ended September 30, 2020.

Clearing Operations

Clearing Operations	9 Months Ended
	Sep. 30, 2020
Brokers and Dealers [Abstract]
Clearing Operations	Clearing Operations We operate six clearing houses, each of which acts as a central counterparty that becomes the buyer to every seller and the seller to every buyer for its clearing members or participants, or Members. Through this central counterparty function, the clearing houses provide financial security for each transaction for the duration of the position by limiting counterparty credit risk. Our clearing houses are responsible for providing clearing services to each of our futures exchanges, and in some cases to third-party execution venues, and are as follows, referred to herein collectively as "the ICE Clearing Houses": Clearing House Products Cleared Exchange where Executed Location ICE Clear Europe Energy, agricultural, interest rates and equity index futures and options contracts and OTC European CDS instruments ICE Futures Europe, ICE Futures U.S., ICE Endex and third-party venues U.K. ICE Clear U.S. Agricultural, metals, and FX index futures and options contracts, equity futures contracts, and digital assets futures contracts ICE Futures U.S. U.S. ICE Clear Credit OTC North American, European, Asian-Pacific and Emerging Market CDS instruments Creditex and third-party venues U.S. ICE Clear Netherlands Derivatives on equities and equity indices traded on regulated markets ICE Endex The Netherlands ICE Clear Singapore Energy, metals and financial futures products and digital assets futures contracts ICE Futures Singapore Singapore ICE NGX Physical North American natural gas, electricity and oil futures ICE NGX Canada Original & Variation Margin Each of the ICE Clearing Houses generally requires all Members to deposit collateral in cash or certain pledged assets. The collateral deposits are known as “original margin.” In addition, the ICE Clearing Houses may make intraday original margin calls in circumstances where market conditions require additional protection. The daily profits and losses to and from the ICE Clearing Houses due to the marking-to-market of open contracts is known as “variation margin.” With the exception of ICE NGX’s physical natural gas and physical power products discussed separately below, the ICE Clearing Houses mark all outstanding contracts to market, and therefore pay and collect variation margin, at least once daily. The amounts that Members are required to maintain are determined by proprietary risk models established by each ICE Clearing House and reviewed by the relevant regulators, independent model validators, risk committees and the boards of directors of the respective ICE Clearing House. The amounts required may fluctuate over time. Each of the ICE Clearing Houses is a separate legal entity and is not subject to the liabilities of the others, or the obligations of Members of the other ICE Clearing Houses. Should a particular Member fail to deposit its original margin or fail to make a variation margin payment, when and as required, the relevant ICE Clearing House may liquidate or hedge the defaulting Member's open positions and use their original margin and guaranty fund deposits to pay any amount owed. In the event that the defaulting Member's deposits are not sufficient to pay the amount owed in full, the ICE Clearing Houses will first use their respective contributions to the guaranty fund, often referred to as Skin In The Game, or SITG, to pay any remaining amount owed. In the event that the SITG is not sufficient, the ICE Clearing Houses may utilize the respective guaranty fund deposits, or collect limited additional funds from their respective non-defaulting Members on a pro-rata basis, to pay any remaining amount owed. As of September 30, 2020 and December 31, 2019, the ICE Clearing Houses had received or had been pledged $162.1 billion and $126.0 billion, respectively, in cash and non-cash collateral in original margin and guaranty fund deposits to cover price movements of underlying contracts for both periods. Guaranty Funds & ICE Contribution As described above, mechanisms have been created, called guaranty funds, to provide partial protection in the event of a Member default. With the exception of ICE NGX, each of the ICE Clearing Houses requires that each Member make deposits into a guaranty fund. In addition, we have contributed our own capital that could be used if a defaulting Member’s original margin and guaranty fund deposits are insufficient. Such amounts are recorded as long-term restricted cash and cash equivalents in our balance sheets and are as follows (in millions): ICE Portion of Guaranty Fund Contribution Default insurance Clearing House As of September 30, 2020 As of As of September 30, 2020 As of ICE Clear Europe $237 $233 $75 $75 ICE Clear U.S. 103 103 25 25 ICE Clear Credit 50 50 50 50 ICE Clear Netherlands 2 2 N/A N/A ICE Clear Singapore 1 1 N/A N/A ICE NGX 15 15 100 100 Total $408 $404 $250 $250 Of our total contribution to ICE Clear U.S. above, $35 million is solely applicable to any losses associated with a default in Bitcoin contracts and other digital asset contracts that ICE Clear U.S. may clear in the future. In April 2020, we increased our contribution to ICE Clear Europe’s guaranty fund by $4 million. In September 2019, we added a layer of insurance to our Member default protection. The default insurance has a three-year term for the following clearing houses in the following amounts: ICE Clear Europe - $75 million; ICE Clear U.S. - $25 million and ICE Clear Credit - $50 million. The default insurance layer resides after and in addition to the ICE Clear Europe, ICE Clear U.S. and ICE Clear Credit SITG contributions and before the guaranty fund contributions of the non-defaulting Members. Similar to SITG, the default insurance layer is not intended to replace or reduce the position risk-based amount of the guaranty fund. As a result, the default insurance layer is not a factor that is included in the calculation of the Members' guaranty fund contribution requirement. Instead, it serves as an additional, distinct, and separate default resource that should serve to further protect the non-defaulting Members’ guaranty fund contributions from being mutualized in the event of a default. As of September 30, 2020, ICE NGX maintains a guaranty fund utilizing a $100 million letter of credit and a default insurance policy, discussed below. Cash and Cash Equivalent Deposits We have recorded cash and cash equivalent margin deposits and amounts due in our balance sheets as current assets with corresponding current liabilities to the Members. As of September 30, 2020, our cash and cash equivalent margin deposits are as follows (in millions): ICE Clear Europe (1) ICE Clear ICE Clear U.S. ICE NGX Other ICE Clearing Houses Total Original margin $ 34,666 $ 37,463 $ 5,815 $ — $ 4 $ 77,948 Unsettled variation margin, net — — — 137 — 137 Guaranty fund 4,247 2,611 534 — 5 7,397 Delivery contracts receivable/payable, net — — — 418 — 418 Total $ 38,913 $ 40,074 $ 6,349 $ 555 $ 9 $ 85,900 As of December 31, 2019, our cash and cash equivalent margin deposits, are as follows (in millions): ICE Clear Europe (2) ICE Clear ICE Clear U.S. ICE NGX Other ICE Clearing Houses Total Original margin $ 28,318 $ 22,145 $ 6,802 $ — $ 2 $ 57,267 Unsettled variation margin, net — — — 255 — 255 Guaranty fund 4,144 2,268 463 — 5 6,880 Delivery contracts receivable/payable, net — — — 585 — 585 Total $ 32,462 $ 24,413 $ 7,265 $ 840 $ 7 $ 64,987 (1) $32.3 billion and $6.6 billion is related to futures/options and CDS, respectively. (2) $27.4 billion and $5.1 billion is related to futures/options and CDS, respectively. Our cash and cash equivalent margin and guaranty fund deposits are maintained in accounts with national banks and reputable financial institutions or secured through direct investments, primarily in U.S. Treasury securities with original maturities of less than three months, or reverse repurchase agreements with primarily overnight maturities. To provide a tool to address the liquidity needs of our clearing houses and manage the liquidation of margin and guaranty fund deposits held in the form of cash and high quality sovereign debt, ICE Clear Europe, ICE Clear Credit and ICE Clear U.S. have entered into Committed Repurchase Agreement Facilities, or Committed Repo. Additionally, ICE Clear Credit and ICE Clear Netherlands have entered into Committed FX Facilities to support these liquidity needs. As of September 30, 2020 the following facilities were in place: • ICE Clear Europe: $1.0 billion in Committed Repo to finance U.S. dollar, euro and pound sterling deposits. • ICE Clear Credit: $300 million in Committed Repo to finance U.S. dollar and euro deposits, €250 million in Committed Repo to finance euro deposits, and €1.9 billion in Committed FX Facilities to finance euro payment obligations. • ICE Clear U.S.: $250 million in Committed Repo to finance U.S. dollar deposits. • ICE Clear Netherlands: €10 million in Committed FX Facilities to finance euro payment obligations. Details of our cash and cash equivalent deposits are as follows (in millions): Clearing House Investment Type As of September 30, 2020 As of ICE Clear Europe National Bank Account (1) $ 10,355 $ 9,667 ICE Clear Europe Reverse repo 25,328 19,187 ICE Clear Europe Sovereign Debt 3,226 3,591 ICE Clear Europe Demand deposits 4 17 ICE Clear Credit National Bank Account 31,924 19,480 ICE Clear Credit Reverse repo 4,630 2,411 ICE Clear Credit Demand deposits 3,520 2,522 ICE Clear U.S. Reverse repo 4,849 4,320 ICE Clear U.S. Sovereign Debt 1,500 2,945 Other ICE Clearing Houses Demand deposits 9 7 ICE NGX Unsettled Variation Margin and Delivery Contracts Receivable/Payable 555 840 Total $ 85,900 $ 64,987 (1) As of September 30, 2020, ICE Clear Europe held €6.6 billion ($7.8 billion based on the euro/U.S. dollar exchange rate of 1.1721 as of September 30, 2020) at De Nederlandsche Bank, or DNB, £2.0 billion ($2.6 billion based on the pound sterling/U.S. dollar exchange rate of 1.2923 as of September 30, 2020) at the Bank of England, or BOE, and €10 million ($12 million based on the above exchange rate) at the BOE. As of December 31, 2019, ICE Clear Europe held €8.0 billion ($9.0 billion based on the euro/U.S. dollar exchange rate of 1.1212 as of December 31, 2019) at DNB, £500 million ($663 million based on the pound sterling/U.S. dollar exchange rate of 1.3260 as of December 31, 2019) at the BOE and €10 million ($11 million based on the above exchange rate) at the BOE. Other Deposits In addition to the cash deposits above, the ICE Clearing Houses have also received other assets from Members, which include government obligations, and may include other non-cash collateral such as letters of credit at ICE NGX, or gold on rare occasions at ICE Clear Europe, to mitigate credit risk. For certain deposits, we may impose discount or “haircut” rates to ensure adequate collateral if market values fluctuate. The value-related risks and rewards of these assets remain with the Members. Any gain or loss accrues to the Member. The ICE Clearing Houses do not, in the ordinary course, rehypothecate or re-pledge these assets. These pledged assets are not reflected in our balance sheets, and are as follows (in millions): As of September 30, 2020 ICE Clear Europe ICE Clear ICE Clear U.S. ICE NGX Total Original margin: Government securities at face value $ 42,022 $ 8,846 $ 21,528 $ — $ 72,396 Letters of credit — — — 2,172 2,172 ICE NGX cash deposits — — — 305 305 Total $ 42,022 $ 8,846 $ 21,528 $ 2,477 $ 74,873 Guaranty fund: Government securities at face value $ 502 $ 594 $ 199 $ — $ 1,295 As of December 31, 2019 ICE Clear Europe ICE Clear ICE Clear U.S. ICE NGX Total Original margin: Government securities at face value $ 30,635 $ 13,710 $ 12,633 $ — $ 56,978 Letters of credit — — — 2,469 2,469 ICE NGX cash deposits — — — 362 362 Total $ 30,635 $ 13,710 $ 12,633 $ 2,831 $ 59,809 Guaranty fund: Government securities at face value $ 475 $ 523 $ 243 $ — $ 1,241 ICE NGX ICE NGX is the central counterparty to Members on opposite sides of its physically-settled contracts, and the balance related to delivered but unpaid contracts is recorded as a delivery contract net receivable, with an offsetting delivery contract net payable in our balance sheets. Unsettled variation margin equal to the fair value of open contracts is recorded as of each balance sheet date. ICE NGX marks all outstanding contracts to market daily, but only collects variation margin when a Member's open position falls outside a specified percentage of its pledged collateral. ICE NGX requires Members to maintain cash or letters of credit to serve as collateral in the event of default. The cash is maintained in a segregated bank account, held in trust and remains the property of the participant, therefore, it is not included in our balance sheets. ICE NGX maintains the following accounts with a third-party Canadian chartered bank which are available in the event of physical settlement shortfalls, subject to certain conditions: Account Type As of September 30, 2020 (In C$ millions) As of September 30, 2020 (In $USD millions) Daylight liquidity facility C$300 $225 Overdraft facility 20 15 Total C$320 $240 As of September 30, 2020, ICE NGX maintains a guaranty fund of $100 million funded by a letter of credit issued by a major Canadian chartered bank, and backed by default insurance underwritten by Export Development Canada, or EDC, a Crown corporation operated at arm’s length from the Canadian government. In the event of a participant default where the Member’s collateral is depleted, the shortfall would be covered by a draw down on the letter of credit following which ICE NGX would file a claim under the default insurance to recover additional losses up to $100 million beyond the $15 million first-loss amount that ICE NGX is responsible for under the default insurance policy. Clearing House Exposure Each ICE Clearing House bears financial counterparty credit risk and provides a central counterparty guarantee, or performance guarantee, to its Members. To reduce their exposure, the ICE Clearing Houses have a risk management program with both initial and ongoing membership standards. Excluding the effects of original and variation margin, guaranty fund and collateral requirements, the ICE Clearing Houses’ maximum estimated exposure for this guarantee is $142.0 billion as of September 30, 2020, which represents the maximum estimated value by the ICE Clearing Houses of a hypothetical one-day movement in pricing of the underlying unsettled contracts. This value was determined using proprietary risk management software that simulates gains and losses based on historical market prices, volatility and other factors present at that point in time for those particular unsettled contracts. Future actual market price volatility could result in the exposure being significantly different than this amount.

Legal Proceedings

Legal Proceedings	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal ProceedingsIn the ordinary course of our business, from time to time we are subject to legal proceedings, lawsuits, government investigations and other claims with respect to a variety of matters. In addition, we are subject to periodic reviews, inspections, examinations and investigations by regulators in the U.S. and other jurisdictions, any of which may result in claims, legal proceedings, assessments, fines, penalties, restrictions on our business or other sanctions. We record estimated expenses and reserves for legal or regulatory matters or other claims when these matters present loss contingencies that are probable and the related amount is reasonably estimable. Any such accruals may be adjusted as circumstances change. Assessments of losses are inherently subjective and involve unpredictable factors. While the outcome of legal and regulatory matters is inherently difficult to predict and/or the range of loss often cannot be reasonably estimable, we do not believe that the liabilities, if any, which may ultimately result from the resolution of the various legal and regulatory matters that arise in the ordinary course of our business, including the matters described below, are likely to have a material adverse effect on our consolidated financial condition, results of operations, or liquidity. It is possible, however, that future results of operations for any particular quarterly or annual period could be materially and adversely affected by any developments relating to these legal and regulatory matters. A range of possible losses related to the cases below cannot be reasonably estimated at this time, except as otherwise disclosed below. ICE Data Pricing & Reference Data Matter Our subsidiary ICE Data Pricing & Reference Data, LLC (“PRD”) is a registered investment advisor in the business of, among other things, providing clients with evaluated pricing and other information for fixed-income securities. The staff of the Enforcement Division of the SEC is conducting fact-finding investigations that involve PRD’s legacy business practices with respect to “broker quotes,“ which involved PRD’s practice of passing through third-party price quotes in certain fixed income securities as-is to its clients when PRD did not believe it had the capability to model an evaluated price for such securities. Broker quoted securities were less than 2% of the securities PRD priced. A list of securities that were broker quoted, as distinguished from evaluated, was made available to PRD’s clients every day. PRD first notified its clients on December 16, 2019 that it would cease providing broker quotes and did so as of October 1, 2020. PRD has been cooperating fully in the SEC staff’s investigation and is in discussions with the staff about a potential resolution of the investigation concerning the legacy broker quote business practices. Any potential agreement with the staff would require the approval of the SEC, and while the timing is uncertain, PRD expects that a settlement, if reached, would be finalized by year-end. PRD has accordingly made an accrual for its probable amount. Given PRD’s understanding that the investigations concern only the legacy provision of broker quotes, PRD does not expect that any settlement would impact PRD’s ongoing business. Separately, PRD’s business practices with respect to broker quotes are relevant to potential civil claims that relate to a now-bankrupt entity named Live Well Financial, Inc. (“Live Well”). Live Well was a broker quote provider to PRD for certain kinds of fixed-income securities. In August 2019, the SEC and the United States Department of Justice respectively filed civil and criminal charges against Live Well and certain of its executives, alleging that Live Well fraudulently provided over-stated “broker quotes” to a then-unnamed “industry-leading price service” (which was PRD). PRD has been contacted by certain financial institution creditors of Live Well, each of which alleges that PRD’s publication of Live Well’s broker quotes caused losses upon Live Well’s default. The Chapter 7 Trustee appointed in the Live Well bankruptcy has also indicated its belief that it has claims against PRD related to PRD’s provision of broker quotes from Live Well. PRD denies any wrongdoing in connection with Live Well’s fraudulent scheme or in connection with PRD’s provision of broker quoted prices from Live Well. These may become litigated matters. At this stage, it is too early to reasonably estimate the amount of damages, if any, that PRD may be required to pay. PRD plans to vigorously defend any litigation related to these claims. SPAN Trademark Dispute CME Group, Inc., or CME, filed suit against two of ICE’s clearing houses (ICE Clear U.S. and ICE Clear Europe Limited) in 2018 in the U.S. District Court for the Northern District of Illinois, alleging infringement of CME’s trademark for SPAN, which is a name generally used to refer to a type of initial margining approach that assesses risk for a variety of financial instruments on a portfolio-wide basis, as well as breach of contract and counterfeiting. The ICE clearing entities and CME were parties to 10-year license agreements that expired in 2017, pursuant to which the clearing entities paid CME a collective total of $50,001 over a 10-year period for the right to use the SPAN trademark. The dispute underlying the claims relates to the period of time following expiration of the license agreements during which the ICE clearing entities continued to make some reference to SPAN. In 2020, CME informed ICE and the court that it was not seeking compensatory damages based on the license fees but rather that the principal relief sought by CME at trial would be the disgorgement of profits of the ICE clearing entities over the approximate one-year period during which the mark was referenced following expiration of the formal agreements. In August 2020, the parties mediated the matter but were unable to reach an agreement. During the lawsuit and the September 2020 bench trial in this matter, the ICE clearing entities asserted various defenses to CME’s claims, including an implied license defense; denied that the SPAN trademark has any value; and presented evidence and legal argument that disgorgement of ICE’s clearing profits is not an appropriate equitable remedy, particularly because none of the ICE clearing entities’ profits are attributable to the use of the SPAN trademark. The parties are awaiting a decision by the court and we cannot reasonably estimate an amount of damages, if any, at this time. For further information on our legal and regulatory matters, please see Note 15 to the consolidated financial statements in Part II, Item 8 of our 2019 Form 10-K, as well as in the comparable sections of our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020 and June 30, 2020.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received from selling an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Our financial instruments consist primarily of certain short-term and long-term assets and liabilities, customer accounts receivable, margin deposits and guaranty funds, equity investments, and short-term and long-term debt. The fair value of our financial instruments is measured based on a three-level hierarchy: • Level 1 inputs — quoted prices for identical assets or liabilities in active markets. • Level 2 inputs — observable inputs other than Level 1 inputs 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 — unobservable inputs supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Financial assets and liabilities recorded or disclosed at fair value in the accompanying consolidated balance sheets as of September 30, 2020 and December 31, 2019 were classified in their entirety based on the lowest level of input that is significant to the asset or liability’s fair value measurement. As of September 30, 2020, we considered the impacts of the COVID-19 pandemic on our fair value assessments, and determined no impairment indicators to be present. We will continue to monitor these fair values in future periods if, or as, circumstances change. Our mutual funds are equity and fixed income mutual funds held for the purpose of providing future payments for the supplemental executive savings plan and the supplemental executive retirement plan. These mutual funds are classified as equity investments and measured at fair value using Level 1 inputs with adjustments recorded in net income. Mortgage Electronic Registration Systems, Inc., or MERS, is part of our ICE Mortgage Technology business and as of December 31, 2019, held fixed income investments as part of a reserve fund in order to satisfy the original terms of the governing documents of our June 2016 acquisition of a majority equity position in MERS. The majority of these investments were held in U.S. Treasuries and measured at fair value using Level 1 inputs with adjustments recorded to other current liabilities. The remaining amount of the reserve fund was held in other fixed income investments and measured using Level 2 inputs. In June 2020, we sold all of the remaining investments and distributed the proceeds to the original MERS shareholders. Excluding our equity investments without a readily determinable fair value, all other financial instruments are determined to approximate carrying value due to the short period of time to their maturities. We did not use Level 3 inputs to determine the fair value of assets or liabilities measured at fair value on a recurring basis as of September 30, 2020 or December 31, 2019. We measure certain assets, such as fixed assets and intangible assets, at fair value on a non-recurring basis. These assets are recognized at fair value if they are deemed to be impaired. During the nine months ended September 30, 2020, we recorded certain fixed assets at fair value using Level 2 inputs. As of September 30, 2020 and December 31, 2019, none of our intangible assets were required to be recorded at fair value since no impairments were recorded. We measure certain equity investments at fair value on a non-recurring basis using our policy election under ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, or ASU 2016-01 . During the nine months ended September 30, 2020, we evaluated transactions involving these investments to identify any increase or decrease in the value of the investment, including qualitative considerations of impairment as discussed above, and concluded that no fair value adjustments were required under this election. See Note 12 for the fair value considerations related to our margin deposits, guaranty funds and delivery contracts receivable. The table below displays the fair value of our debt as of September 30, 2020. The fair values of our senior notes were estimated using quoted market prices for these instruments. The fair value of our commercial paper includes a discount and other short-term debt approximates par value since the interest rates on this short-term debt approximate market rates as of September 30, 2020. The fair value for our $750 million term loan approximates par value since the interest rates on this debt approximate market rates as of September 30, 2020. As of September 30, 2020 (in millions) Debt: Carrying Amount Fair value Commercial Paper $ 2,460 $ 2,463 Other short-term debt 3 3 2022 Term Loan 747 750 2022 Senior Notes (2.35% senior unsecured notes due September 15, 2022) 498 518 2023 Senior Notes (floating rate senior unsecured notes due June 15, 2023) 1,244 1,258 2023 Senior Notes (0.70% senior unsecured notes due June 15, 2023) 994 1,004 2023 Senior Notes (3.45% senior unsecured notes due September 21, 2023) 398 433 2023 Senior Notes (4.00% senior unsecured notes due October 15, 2023) 795 881 2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025) 1,245 1,419 2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027) 496 553 2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028) 593 696 2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030) 1,231 1,293 2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032) 1,481 1,497 2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040) 1,229 1,253 2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048) 1,230 1,553 2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050) 1,219 1,316 2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060) 1,469 1,519 Total debt $ 17,332 $ 18,409

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Reporting	Segment ReportingWe operate two reportable business segments: our Trading and Clearing segment and our Data and Listings segment. This presentation is reflective of how our chief operating decision maker reviews and operates our business. Our Trading and Clearing segment comprises our transaction-based execution and clearing businesses as well as our mortgage technology business. Our Data and Listings segment comprises our data services and our securities listings businesses, which are both largely subscription-based. Our chief operating decision maker does not review total assets or statements of income below operating income by segments; therefore, such information is not presented below. Our two segments do not engage in intersegment transactions. Financial data for our business segments is as follows for the nine and three months ended September 30, 2020 and 2019 (in millions): Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Trading and Clearing Segment Data and Listings Segment Consolidated Trading and Clearing Segment Data and Listings Segment Consolidated Revenues: Energy futures and options contracts $ 858 $ — $ 858 $ 749 $ — $ 749 Agricultural and metals futures and options contracts 197 — 197 194 — 194 Financial futures and options contracts 275 — 275 252 — 252 Cash equities and equity options 1,934 — 1,934 1,201 — 1,201 Fixed income and credit 424 — 424 268 — 268 OTC and other transactions 38 — 38 34 — 34 Pricing and analytics — 845 845 — 809 809 Exchange data and feeds — 552 552 — 528 528 Desktops and connectivity — 330 330 — 315 315 Listings — 334 334 — 336 336 Other revenues 224 — 224 194 — 194 Revenues 3,950 2,061 6,011 2,892 1,988 4,880 Transaction-based expenses 1,646 — 1,646 976 — 976 Revenues, less transaction-based expenses 2,304 2,061 4,365 1,916 1,988 3,904 Operating expenses 998 1,114 2,112 732 1,121 1,853 Operating income $ 1,306 $ 947 $ 2,253 $ 1,184 $ 867 $ 2,051 Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Trading and Clearing Segment Data and Listings Segment Consolidated Trading and Clearing Segment Data and Listings Segment Consolidated Revenues: Energy futures and options contracts $ 229 $ — $ 229 $ 265 $ — $ 265 Agricultural and metals futures and options contracts 54 — 54 60 — 60 Financial futures and options contracts 76 — 76 91 — 91 Cash equities and equity options 593 — 593 401 — 401 Fixed income and credit 191 — 191 101 — 101 OTC and other transactions 12 — 12 11 — 11 Pricing and analytics — 287 287 — 273 273 Exchange data and feeds — 189 189 — 172 172 Desktops and connectivity — 113 113 — 108 108 Listings — 111 111 — 114 114 Other revenues 75 — 75 67 — 67 Revenues 1,230 700 1,930 996 667 1,663 Transaction-based expenses 519 — 519 327 — 327 Revenues, less transaction-based expenses 711 700 1,411 669 667 1,336 Operating expenses 406 378 784 255 375 630 Operating income $ 305 $ 322 $ 627 $ 414 $ 292 $ 706

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the nine and three months ended September 30, 2020 and 2019 (in millions, except per share amounts): Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 Basic: Net income attributable to Intercontinental Exchange, Inc. $ 1,563 $ 1,485 $ 390 $ 529 Weighted average common shares outstanding 549 563 548 559 Basic earnings per common share $ 2.85 $ 2.64 $ 0.71 $ 0.95 Diluted: Weighted average common shares outstanding 549 563 548 559 Effect of dilutive securities - stock options and restricted shares 3 3 3 4 Diluted weighted average common shares outstanding 552 566 551 563 Diluted earnings per common share $ 2.83 $ 2.62 $ 0.71 $ 0.94 Basic earnings per common share is calculated using the weighted average common shares outstanding during the period. Common equivalent shares from stock options and restricted stock awards, using the treasury stock method, are included in the diluted per share calculations unless the effect of their inclusion would be antidilutive. During the nine months ended September 30, 2020 and 2019, 358,000 and 437,000 outstanding stock options, respectively, were not included in the computation of diluted earnings per common share, because to do so would have had an antidilutive effect. In addition, we have excluded warrants and preferred and common incentive units under the Bakkt Equity Incentive Plan because they are also antidilutive. Certain figures in the table above may not recalculate due to rounding.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Effective October 1, 2020, we realigned our businesses as part of a review of, and changes in, our organizational structure following our acquisition of Ellie Mae. As a result, we changed our internal financial reporting and we determined that a change in reportable segments had occurred. Beginning October 1, 2020, we will report three segments: Exchanges, Fixed Income & Data Services, and Mortgage Technology. Our new segment presentation is expected to be comprised of the following: • Our Exchanges segment will include trade execution and clearing, exchange data, colocation and administration fees, ICE Benchmark Administration and NYSE listings. • Our Fixed Income & Data Services segment will include ICE Bonds, CDS clearing, pricing and reference data, analytics, indices, consolidated feeds and ICE Global Network. • Our Mortgage Technology segment will include our MERS, Simplifile LC, or Simplifile, and Ellie Mae mortgage services businesses. These changes are intended to better align our external reporting to our internal view of our businesses, including the view of our chief operating decision maker and how he manages our business. The impact of these changes will be reflected in our financial statements as of and for the year ended December 31, 2020. Prior year segment information will be reclassified to conform to the reporting structure change. We are also in the process of reassessing the composition of our reporting units and how we assess the related goodwill for impairment. We have evaluated subsequent events and determined that no other events or transactions met the definition of a subsequent event for purposes of recognition or disclosure in the accompanying consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation We prepared the accompanying unaudited consolidated financial statements in accordance with U.S. generally accepted accounting principles, or U.S. GAAP, pursuant to the rules and regulations of the Securities and Exchange Commission, or SEC, regarding interim financial reporting. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by U.S. GAAP for complete financial statements and should be read in conjunction with our audited consolidated financial statements and related notes thereto for the year ended December 31, 2019. The accompanying unaudited consolidated financial statements reflect all adjustments that are, in our opinion, necessary for a fair presentation of results for the interim periods presented. We believe that these adjustments are of a normal recurring nature. Preparing financial statements in conformity with U.S. GAAP requires us to make certain estimates and assumptions that affect the amounts that are reported in our consolidated financial statements and accompanying disclosures. Actual amounts could differ from those estimates. The results of operations for the nine and three months ended September 30, 2020 are not necessarily indicative of the results to be expected for any future period or the full fiscal year.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements ASU No. 2016-13, Financial Instruments - Measurement of Credit Losses on Financial Instruments, applies to all financial instruments carried at amortized cost including held-to-maturity debt securities and accounts receivable. It requires financial assets carried at amortized cost to be presented at the net amount expected to be collected and requires entities to record credit losses through an allowance for credit losses on available-for-sale debt securities. We adopted on January 1, 2020 on a modified retrospective basis. We evaluated this guidance to determine the impact on our consolidated financial statements. Based on our assessment, we concluded the impact of adoption of this guidance was not material. Further disclosures and details on our adoption are discussed below. ASU 2017-04, Simplifying the Test for Goodwill Impairment, removes the second step of the goodwill impairment test, which requires a hypothetical purchase price allocation if the fair value of a reporting unit is less than its carrying value. Goodwill impairment will now be measured using the difference between the carrying value and the fair value of the reporting unit, and any loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. We adopted on January 1, 2020 on a prospective basis. We evaluated this guidance to determine the impact on our consolidated financial statements. Based on our assessment, we concluded the impact of adoption of this guidance was not material. The fair values of our reporting units have been greater than their corresponding carrying values in recent years. Changes in future projections, market conditions, and other factors may cause a change in the excess of fair value of our reporting units over their corresponding carrying values. ASU 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract , helps entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement by providing guidance for determining when an arrangement includes a software license and is solely a hosted service. Customers will now apply the same criteria for capitalizing implementation costs as they would for a software license arrangement. The guidance also prescribes the balance sheet, income statement, and cash flow classification of the capitalized implementation costs and related amortization expense, and requires additional quantitative and qualitative disclosures. We adopted on January 1, 2020 and apply the rules prospectively to eligible costs incurred on or after the effective date. We evaluated this guidance to determine the impact on our consolidated financial statements. Based on our assessment, we concluded the impact of adoption of this guidance was not material. ASU No. 2019-12, Simplifying the Accounting for Income Taxes , eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It clarifies that single-member limited liability companies, and other similar disregarded entities that are not subject to income tax, are not required to recognize an allocation of consolidated income tax expense in their separate financial statements. Further, it simplifies the accounting for franchise taxes, enacted changes in tax laws or rates and transactions that result in a step-up in the tax basis of goodwill. Effective for fiscal years beginning after December 15, 2020 with early adoption permitted. We elected early adoption and adopted on January 1, 2020. We evaluated this guidance to determine the impact on our consolidated financial statements. Based on our assessment, we concluded the impact of adoption of this guidance was not material. Adoption of ASU 2016-13, Financial Instruments - Measurement of Credit Losses on Financial Instruments On January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Measurement of Credit Losses on Financial Instruments , or ASU 2016-13. This standard requires the application of a current expected credit loss, or CECL, impairment model to financial assets measured at amortized cost, including accounts receivable and certain off-balance-sheet credit exposures. The standard also amends the impairment model for available-for-sale debt securities requiring entities to record credit losses through an allowance account. The CECL model requires an entity to estimate its lifetime expected credit loss and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. Adoption of the standard requires more timely recognition of credit losses and credit loss estimates are required to use historical information, current information and reasonable and supportable forecasts of future events. We adopted ASU 2016-13 using the modified retrospective approach through a cumulative-effect adjustment to retained earnings on January 1, 2020. ASU 2016-13 primarily impacted the calculation of our allowance for doubtful accounts on accounts receivable utilizing the expected credit losses model. Our adoption of ASU 2016-13 was subject to the same internal controls over financial reporting that we apply to our consolidated financial statements and the impact of our adoption was not material. We do not currently hold available-for-sale debt securities, off-balance-sheet credit exposures, or other material financial assets impacted by the standard, besides those mentioned below. We considered our material financial assets within scope, including our cash equivalents, short-term and long-term restricted cash equivalents as well as our clearing members' cash equivalent and reverse repurchase receivables, and determined that such assets have a de minimis risk of credit loss. We invest our cash and clearing members' cash by placing it in highly-rated government securities, primarily U.S. Treasury securities and other sovereign debt with original maturities of less than three months which we consider to be cash equivalents, or into reverse repurchase agreements, referred to as reverse repos, with primarily overnight maturities. Reverse repos are valued daily and are subject to collateral maintenance provisions whereby the counterparty must provide additional collateral if the value of the underlying securities lose value, in an amount sufficient to maintain collateralization of at least 102%. Therefore, as of and for the nine months ended September 30, 2020 we have not recorded a credit loss for these financial assets. Based on the high turnover and collectability of our accounts receivable, as well as the monthly billing process for the majority of revenue, we did not experience a significant increase in the loss provision recognized upon adoption of the CECL model. Accounts receivable in our futures and clearing businesses have minimal credit risk as all clearing members are pre-screened, collection periods occur within one month and the services to customers are completed almost instantaneously. Our accounts receivable related to revenues from market data, cash trading, listings, technology services, mortgage technology, CDS transactions and bilateral OTC energy transactions subject us to credit losses, but we expeditiously limit our risk of credit loss by taking action such as terminating trading or transaction access, terminating public listings or ceasing to distribute data for entities with delinquent accounts. The concentration of risk on our accounts receivable is also mitigated by the high quality and the large number of entities comprising our customer base. We estimated our allowance for doubtful accounts using an aging method, disaggregated based on major revenue stream categories as well as other unique revenue stream factors. The factors for pooling our accounts receivable balances were specific to each revenue stream based on our risk assessment, past patterns of collectability, our knowledge of the business, and customer-specific situations. We apply estimated reserve percentages to the risk pools identified, which are derived from historical write-off factors that are based on the accounts receivable balance’s delinquency status and adjusted as appropriate for our reasonable and supportable estimates of current and future economic conditions. We believe that historical write-off trends provide a basis for estimating future patterns of losses because there have been no significant changes in the mix or risk characteristics of the accounts receivable revenue stream pool populations from the risk pools used to calculate our historical write-off rates. At each measurement date we reassess whether our accounts receivable pools continue to exhibit similar risk characteristics. We then determine if assets need to be isolated further as part of their own specific line item reserve due to specific events, such as a customer’s inability to meet its financial obligations (i.e. customer disputes, highly unresponsive customers, delinquency of the receivable, or other indicators of credit deterioration of customers). Lastly, the CECL standard is forward-looking and requires us to factor reasonable and supportable economic expectations into our allowance estimate for the asset's entire expected life, which is generally less than one year. A reconciliation of the beginning and ending amount of allowance for doubtful accounts is as follows for the nine months ended September 30, 2020 (in millions): Allowance for Doubtful Accounts Beginning balance as of December 31, 2019 $ 8 Impact of adoption of ASU 2016-13 13 Bad debt expense 11 Charge-offs (7) Ending balance as of September 30, 2020 $ 25 The impact of adoption of ASU 2016-13
Revenue Recognition	Substantially all of our revenues are considered to be revenues from contracts with customers. The related accounts receivable balances are recorded in our balance sheets as customer accounts receivable. We do not have obligations for warranties, returns or refunds to customers, other than rebates, which are settled each period and therefore do not result in variable consideration. We do not have significant revenue recognized from performance obligations that were satisfied in prior periods, and we do not have any transaction price allocated to unsatisfied performance obligations other than in our deferred revenue. Deferred revenue represents our contract liabilities related to our annual, original and other listings revenues as well as certain data, clearing and mortgage services and other revenues. See Note 7 for our discussion of deferred revenue balances, activity, and expected timing of recognition. We have elected not to provide disclosures about the transaction price allocated to unsatisfied performance obligations if contract durations are less than one year, or if we are not required to estimate the transaction price. For all of our contracts with customers, except for listings and certain data, clearing and mortgage services, our performance obligations are short term in nature and there is no significant variable consideration. In addition, we have elected the practical expedient of excluding sales taxes from transaction prices. We have assessed the costs incurred to obtain or fulfill a contract with a customer and determined them to be immaterial.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Recently Adopted Accounting Pronouncements Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements ASU No. 2016-13, Financial Instruments - Measurement of Credit Losses on Financial Instruments, applies to all financial instruments carried at amortized cost including held-to-maturity debt securities and accounts receivable. It requires financial assets carried at amortized cost to be presented at the net amount expected to be collected and requires entities to record credit losses through an allowance for credit losses on available-for-sale debt securities. We adopted on January 1, 2020 on a modified retrospective basis. We evaluated this guidance to determine the impact on our consolidated financial statements. Based on our assessment, we concluded the impact of adoption of this guidance was not material. Further disclosures and details on our adoption are discussed below. ASU 2017-04, Simplifying the Test for Goodwill Impairment, removes the second step of the goodwill impairment test, which requires a hypothetical purchase price allocation if the fair value of a reporting unit is less than its carrying value. Goodwill impairment will now be measured using the difference between the carrying value and the fair value of the reporting unit, and any loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. We adopted on January 1, 2020 on a prospective basis. We evaluated this guidance to determine the impact on our consolidated financial statements. Based on our assessment, we concluded the impact of adoption of this guidance was not material. The fair values of our reporting units have been greater than their corresponding carrying values in recent years. Changes in future projections, market conditions, and other factors may cause a change in the excess of fair value of our reporting units over their corresponding carrying values. ASU 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract , helps entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement by providing guidance for determining when an arrangement includes a software license and is solely a hosted service. Customers will now apply the same criteria for capitalizing implementation costs as they would for a software license arrangement. The guidance also prescribes the balance sheet, income statement, and cash flow classification of the capitalized implementation costs and related amortization expense, and requires additional quantitative and qualitative disclosures. We adopted on January 1, 2020 and apply the rules prospectively to eligible costs incurred on or after the effective date. We evaluated this guidance to determine the impact on our consolidated financial statements. Based on our assessment, we concluded the impact of adoption of this guidance was not material. ASU No. 2019-12, Simplifying the Accounting for Income Taxes , eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It clarifies that single-member limited liability companies, and other similar disregarded entities that are not subject to income tax, are not required to recognize an allocation of consolidated income tax expense in their separate financial statements. Further, it simplifies the accounting for franchise taxes, enacted changes in tax laws or rates and transactions that result in a step-up in the tax basis of goodwill. Effective for fiscal years beginning after December 15, 2020 with early adoption permitted. We elected early adoption and adopted on January 1, 2020. We evaluated this guidance to determine the impact on our consolidated financial statements. Based on our assessment, we concluded the impact of adoption of this guidance was not material.
Schedule of Reconciliation of Allowance for Doubtful Accounts	A reconciliation of the beginning and ending amount of allowance for doubtful accounts is as follows for the nine months ended September 30, 2020 (in millions): Allowance for Doubtful Accounts Beginning balance as of December 31, 2019 $ 8 Impact of adoption of ASU 2016-13 13 Bad debt expense 11 Charge-offs (7) Ending balance as of September 30, 2020 $ 25

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Schedule of Preliminary Purchase Price Allocation	The preliminary purchase price allocation is as follows (in millions): Preliminary Purchase Price Allocation Cash and cash equivalents $ 335 Property and equipment 151 Goodwill 7,688 Identifiable intangibles 4,431 Other assets and liabilities, net 54 Deferred tax liabilities on identifiable intangibles (1,241) Total preliminary purchase price allocation $ 11,418
Schedule of Components of the Preliminary Intangible Assets Associated with the Acquisition	The following table sets forth the components of the preliminary intangible assets associated with the acquisition as of September 30, 2020 (in millions, except years): Acquisition-Date Preliminary Fair Value Accumulated Amortization Net Book Value Useful Life (Years) Customer relationships $ 3,125 $ (11) $ 3,114 10 to 20 Backlog 300 (3) 297 5 to 7 Trademark/Tradenames 200 (1) 199 5 to 20 Developed Technology 739 (8) 731 7 In-process Research & Development 67 — 67 N/A Total $ 4,431 $ (23) $ 4,408

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2020
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: Trading and Clearing Segment Data and Listings Segment Total Consolidated Nine Months Ended September 30, 2020: Transaction and clearing, net $ 3,726 $ — $ 3,726 Data services — 1,727 1,727 Listings — 334 334 Other revenues 224 — 224 Total revenues 3,950 2,061 6,011 Transaction-based expenses 1,646 — 1,646 Total revenues, less transaction-based expenses $ 2,304 $ 2,061 $ 4,365 Timing of Revenue Recognition Services transferred at a point in time $ 1,982 $ — $ 1,982 Services transferred over time 322 2,061 2,383 Total revenues, less transaction-based expenses $ 2,304 $ 2,061 $ 4,365 Trading and Clearing Segment Data and Listings Segment Total Consolidated Nine Months Ended September 30, 2019: Transaction and clearing, net $ 2,698 $ — $ 2,698 Data services — 1,652 1,652 Listings — 336 336 Other revenues 194 — 194 Total revenues 2,892 1,988 4,880 Transaction-based expenses 976 — 976 Total revenues, less transaction-based expenses $ 1,916 $ 1,988 $ 3,904 Timing of Revenue Recognition Services transferred at a point in time $ 1,653 $ — $ 1,653 Services transferred over time 263 1,988 2,251 Total revenues, less transaction-based expenses $ 1,916 $ 1,988 $ 3,904 Trading and Clearing Segment Data and Listings Segment Total Consolidated Three Months Ended September 30, 2020: Transaction and clearing, net $ 1,155 $ — $ 1,155 Data services — 589 589 Listings — 111 111 Other revenues 75 — 75 Total revenues 1,230 700 1,930 Transaction-based expenses 519 — 519 Total revenues, less transaction-based expenses $ 711 $ 700 $ 1,411 Timing of Revenue Recognition Services transferred at a point in time $ 595 $ — $ 595 Services transferred over time 116 700 816 Total revenues, less transaction-based expenses $ 711 $ 700 $ 1,411 Trading and Clearing Segment Data and Listings Segment Total Consolidated Three Months Ended September 30, 2019: Transaction and clearing, net $ 929 $ — $ 929 Data services — 553 553 Listings — 114 114 Other revenues 67 — 67 Total revenues 996 667 1,663 Transaction-based expenses 327 — 327 Total revenues, less transaction-based expenses $ 669 $ 667 $ 1,336 Timing of Revenue Recognition Services transferred at a point in time $ 578 $ — $ 578 Services transferred over time 91 667 758 Total revenues, less transaction-based expenses $ 669 $ 667 $ 1,336

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedules of Intangible Assets and Goodwill	The following is a summary of the activity in the goodwill balance for the nine months ended September 30, 2020 (in millions): Goodwill balance at December 31, 2019 $ 13,342 Acquisitions 7,907 Foreign currency translation (11) Other activity, net 5 Goodwill balance at September 30, 2020 $ 21,243 The following is a summary of the activity in the other intangible assets balance for the nine months ended September 30, 2020 (in millions): Other intangible assets balance at December 31, 2019 $ 10,258 Acquisitions 4,498 Foreign currency translation (13) Amortization of other intangible assets (236) Other intangible assets balance at September 30, 2020 $ 14,507

Deferred Revenue (Tables)

Deferred Revenue (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Changes in Deferred Revenue	The changes in our deferred revenue during the nine months ended September 30, 2020 are as follows (in millions): Annual Listings Revenues Original Listings Revenues Other Listings Revenues Data Services and Other Revenues Mortgage Technology Total Deferred revenue balance at December 31, 2019 $ — $ 19 $ 94 $ 88 $ — $ 201 Additions 384 9 34 367 25 819 Amortization (288) (15) (31) (326) — (660) Deferred revenue balance at September 30, 2020 $ 96 $ 13 $ 97 $ 129 $ 25 $ 360 The changes in our deferred revenue during the nine months ended September 30, 2019 are as follows (in millions): Annual Listings Revenues Original Listings Revenues Other Listings Revenues Data Services and Other Revenues Total Deferred revenue balance at December 31, 2018 $ — $ 25 $ 100 $ 92 $ 217 Additions 387 11 30 300 728 Amortization (289) (17) (30) (277) (613) Deferred revenue balance at September 30, 2019 $ 98 $ 19 $ 100 $ 115 $ 332

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Debt	Our total debt, including short-term and long-term debt, consisted of the following as of September 30, 2020 and December 31, 2019 (in millions): As of September 30, 2020 As of December 31, 2019 Debt: Short-term debt: Commercial Paper $ 2,460 $ 1,311 2020 Senior Notes (2.75% senior unsecured notes due December 1, 2020) — 1,248 Other short-term debt 3 10 Total short-term debt 2,463 2,569 Long-term debt: 2022 Term Loan 747 — 2022 Senior Notes (2.35% senior unsecured notes due September 15, 2022) 498 497 2023 Senior Notes (floating rate senior unsecured notes due June 15, 2023) 1,244 — 2023 Senior Notes (0.70% senior unsecured notes due June 15, 2023) 994 — 2023 Senior Notes (3.45% senior unsecured notes due September 21, 2023) 398 398 2023 Senior Notes (4.00% senior unsecured notes due October 15, 2023) 795 794 2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025) 1,245 1,244 2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027) 496 496 2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028) 593 592 2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030) 1,231 — 2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032) 1,481 — 2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040) 1,229 — 2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048) 1,230 1,229 2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050) 1,219 — 2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060) 1,469 — Total long-term debt 14,869 5,250 Total debt $ 17,332 $ 7,819

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Summary of Stock Options	The following is a summary of our stock option activity: Number of Options Weighted Average Outstanding at December 31, 2019 3,501 $ 51.87 Granted 413 92.63 Exercised (592) 43.11 Forfeited (13) 67.00 Outstanding at September 30, 2020 3,309 58.48
Details of Stock Options Outstanding	Details of stock options outstanding as of September 30, 2020 were as follows: Number of Options Weighted Average Weighted Average Aggregate Vested or expected to vest 3,309 $58.48 6.1 $138 Exercisable 2,407 $49.62 5.1 $121 Details of stock options exercised are as follows: Nine Months Ended September 30, Three Months Ended September 30, Options exercised: 2020 2019 2020 2019 Total intrinsic value of options exercised (in millions) $ 29 $ 25 $ 7 $ 7
Stock Options Valuation Assumptions	During the nine months ended September 30, 2020 and 2019, we used the assumptions in the table below to compute the value: Nine Months Ended September 30, Assumptions: 2020 2019 Risk-free interest rate 1.46% 2.49% Expected life in years 5.8 5.9 Expected volatility 20% 20% Expected dividend yield 1.30% 1.44% Estimated weighted-average fair value of options granted per share $16.65 $15.45
Summary of Nonvested Restricted Stock Options	The following is a summary of nonvested restricted shares under all plans discussed above for the nine months ended September 30, 2020: Number of Weighted Average Nonvested at December 31, 2019 3,728 $ 68.87 Granted 1,464 93.18 Vested (1,986) 64.94 Forfeited (83) 77.04 Nonvested at September 30, 2020 3,123 82.55 Nine Months Ended September 30, 2020 2019 Time-based restricted stock units granted (1) 891 975 Total fair value of restricted stock vested under all restricted stock plans $ 180 $ 166 (1) The remaining shares granted are performance-based.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following tables present changes in the accumulated balances for each component of other comprehensive income (loss) (in millions): Changes in Accumulated Other Comprehensive Income (Loss) by Component Foreign currency translation adjustments Comprehensive income from equity method investment Employee benefit plans adjustments Total Balance, as of December 31, 2019 $ (177) $ 1 $ (67) $ (243) Other comprehensive income (loss) (29) — — (29) Income tax benefit (expense) (1) — — (1) Net current period other comprehensive income (loss) (30) — — (30) Balance, as of September 30, 2020 $ (207) $ 1 $ (67) $ (273) Changes in Accumulated Other Comprehensive Income (Loss) by Component Foreign currency translation adjustments Comprehensive income from equity method investment Employee benefit plans adjustments Total Balance, as of June 30, 2020 $ (255) $ 1 $ (67) $ (321) Other comprehensive income (loss) 49 — — 49 Income tax benefit (expense) (1) — — (1) Net current period other comprehensive income (loss) 48 — — 48 Balance, as of September 30, 2020 $ (207) $ 1 $ (67) $ (273) Changes in Accumulated Other Comprehensive Income (Loss) by Component Foreign currency translation adjustments Comprehensive income from equity method investment Employee benefit plans adjustments Total Balance, as of December 31, 2018 $ (227) $ 2 $ (90) $ (315) Other comprehensive income (loss) (33) (1) — (34) Income tax benefit (expense) 1 — — 1 Net current period other comprehensive income (loss) (32) (1) — (33) Balance, as of September 30, 2019 $ (259) $ 1 $ (90) $ (348) Changes in Accumulated Other Comprehensive Income (Loss) by Component Foreign currency translation adjustments Comprehensive income from equity method investment Employee benefit plans adjustments Total Balance, as of June 30, 2019 $ (220) $ 1 $ (90) $ (309) Other comprehensive income (loss) (40) — — (40) Income tax benefit (expense) 1 — — 1 Net current period other comprehensive income (loss) (39) — — (39) Balance, as of September 30, 2019 $ (259) $ 1 $ (90) $ (348)

Clearing Operations (Tables)

Clearing Operations (Tables)	9 Months Ended
	Sep. 30, 2020
Brokers and Dealers [Abstract]
Schedule of Clearing Houses Information	Our clearing houses are responsible for providing clearing services to each of our futures exchanges, and in some cases to third-party execution venues, and are as follows, referred to herein collectively as "the ICE Clearing Houses": Clearing House Products Cleared Exchange where Executed Location ICE Clear Europe Energy, agricultural, interest rates and equity index futures and options contracts and OTC European CDS instruments ICE Futures Europe, ICE Futures U.S., ICE Endex and third-party venues U.K. ICE Clear U.S. Agricultural, metals, and FX index futures and options contracts, equity futures contracts, and digital assets futures contracts ICE Futures U.S. U.S. ICE Clear Credit OTC North American, European, Asian-Pacific and Emerging Market CDS instruments Creditex and third-party venues U.S. ICE Clear Netherlands Derivatives on equities and equity indices traded on regulated markets ICE Endex The Netherlands ICE Clear Singapore Energy, metals and financial futures products and digital assets futures contracts ICE Futures Singapore Singapore ICE NGX Physical North American natural gas, electricity and oil futures ICE NGX Canada
Schedule Of Guaranty Fund Contribution and Default Insurance	Such amounts are recorded as long-term restricted cash and cash equivalents in our balance sheets and are as follows (in millions): ICE Portion of Guaranty Fund Contribution Default insurance Clearing House As of September 30, 2020 As of As of September 30, 2020 As of ICE Clear Europe $237 $233 $75 $75 ICE Clear U.S. 103 103 25 25 ICE Clear Credit 50 50 50 50 ICE Clear Netherlands 2 2 N/A N/A ICE Clear Singapore 1 1 N/A N/A ICE NGX 15 15 100 100 Total $408 $404 $250 $250
Schedule of Margin Deposits and Guaranty Funds Assets	As of September 30, 2020, our cash and cash equivalent margin deposits are as follows (in millions): ICE Clear Europe (1) ICE Clear ICE Clear U.S. ICE NGX Other ICE Clearing Houses Total Original margin $ 34,666 $ 37,463 $ 5,815 $ — $ 4 $ 77,948 Unsettled variation margin, net — — — 137 — 137 Guaranty fund 4,247 2,611 534 — 5 7,397 Delivery contracts receivable/payable, net — — — 418 — 418 Total $ 38,913 $ 40,074 $ 6,349 $ 555 $ 9 $ 85,900 As of December 31, 2019, our cash and cash equivalent margin deposits, are as follows (in millions): ICE Clear Europe (2) ICE Clear ICE Clear U.S. ICE NGX Other ICE Clearing Houses Total Original margin $ 28,318 $ 22,145 $ 6,802 $ — $ 2 $ 57,267 Unsettled variation margin, net — — — 255 — 255 Guaranty fund 4,144 2,268 463 — 5 6,880 Delivery contracts receivable/payable, net — — — 585 — 585 Total $ 32,462 $ 24,413 $ 7,265 $ 840 $ 7 $ 64,987 (1) $32.3 billion and $6.6 billion is related to futures/options and CDS, respectively.
Schedule of Cash and Cash Equivalents	Details of our cash and cash equivalent deposits are as follows (in millions): Clearing House Investment Type As of September 30, 2020 As of ICE Clear Europe National Bank Account (1) $ 10,355 $ 9,667 ICE Clear Europe Reverse repo 25,328 19,187 ICE Clear Europe Sovereign Debt 3,226 3,591 ICE Clear Europe Demand deposits 4 17 ICE Clear Credit National Bank Account 31,924 19,480 ICE Clear Credit Reverse repo 4,630 2,411 ICE Clear Credit Demand deposits 3,520 2,522 ICE Clear U.S. Reverse repo 4,849 4,320 ICE Clear U.S. Sovereign Debt 1,500 2,945 Other ICE Clearing Houses Demand deposits 9 7 ICE NGX Unsettled Variation Margin and Delivery Contracts Receivable/Payable 555 840 Total $ 85,900 $ 64,987 (1) As of September 30, 2020, ICE Clear Europe held €6.6 billion ($7.8 billion based on the euro/U.S. dollar exchange rate of 1.1721 as of September 30, 2020) at De Nederlandsche Bank, or DNB, £2.0 billion ($2.6 billion based on the pound sterling/U.S. dollar exchange rate of 1.2923 as of September 30, 2020) at the Bank of England, or BOE, and €10 million ($12 million based on the above exchange rate) at the BOE. As of December 31, 2019, ICE Clear Europe held €8.0 billion ($9.0 billion based on the euro/U.S. dollar exchange rate of 1.1212 as of December 31, 2019) at DNB, £500 million ($663 million based on the pound sterling/U.S. dollar exchange rate of 1.3260 as of December 31, 2019) at the BOE and €10 million ($11 million based on the above exchange rate) at the BOE.
Schedule of Assets Pledged by Clearing Members	These pledged assets are not reflected in our balance sheets, and are as follows (in millions): As of September 30, 2020 ICE Clear Europe ICE Clear ICE Clear U.S. ICE NGX Total Original margin: Government securities at face value $ 42,022 $ 8,846 $ 21,528 $ — $ 72,396 Letters of credit — — — 2,172 2,172 ICE NGX cash deposits — — — 305 305 Total $ 42,022 $ 8,846 $ 21,528 $ 2,477 $ 74,873 Guaranty fund: Government securities at face value $ 502 $ 594 $ 199 $ — $ 1,295 As of December 31, 2019 ICE Clear Europe ICE Clear ICE Clear U.S. ICE NGX Total Original margin: Government securities at face value $ 30,635 $ 13,710 $ 12,633 $ — $ 56,978 Letters of credit — — — 2,469 2,469 ICE NGX cash deposits — — — 362 362 Total $ 30,635 $ 13,710 $ 12,633 $ 2,831 $ 59,809 Guaranty fund: Government securities at face value $ 475 $ 523 $ 243 $ — $ 1,241
Schedule of Financial Instruments Owned and Pledged as Collateral	ICE NGX maintains the following accounts with a third-party Canadian chartered bank which are available in the event of physical settlement shortfalls, subject to certain conditions: Account Type As of September 30, 2020 (In C$ millions) As of September 30, 2020 (In $USD millions) Daylight liquidity facility C$300 $225 Overdraft facility 20 15 Total C$320 $240

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The fair values of our senior notes were estimated using quoted market prices for these instruments. The fair value of our commercial paper includes a discount and other short-term debt approximates par value since the interest rates on this short-term debt approximate market rates as of September 30, 2020. The fair value for our $750 million term loan approximates par value since the interest rates on this debt approximate market rates as of September 30, 2020. As of September 30, 2020 (in millions) Debt: Carrying Amount Fair value Commercial Paper $ 2,460 $ 2,463 Other short-term debt 3 3 2022 Term Loan 747 750 2022 Senior Notes (2.35% senior unsecured notes due September 15, 2022) 498 518 2023 Senior Notes (floating rate senior unsecured notes due June 15, 2023) 1,244 1,258 2023 Senior Notes (0.70% senior unsecured notes due June 15, 2023) 994 1,004 2023 Senior Notes (3.45% senior unsecured notes due September 21, 2023) 398 433 2023 Senior Notes (4.00% senior unsecured notes due October 15, 2023) 795 881 2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025) 1,245 1,419 2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027) 496 553 2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028) 593 696 2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030) 1,231 1,293 2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032) 1,481 1,497 2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040) 1,229 1,253 2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048) 1,230 1,553 2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050) 1,219 1,316 2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060) 1,469 1,519 Total debt $ 17,332 $ 18,409

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial data for our business segments is as follows for the nine and three months ended September 30, 2020 and 2019 (in millions): Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Trading and Clearing Segment Data and Listings Segment Consolidated Trading and Clearing Segment Data and Listings Segment Consolidated Revenues: Energy futures and options contracts $ 858 $ — $ 858 $ 749 $ — $ 749 Agricultural and metals futures and options contracts 197 — 197 194 — 194 Financial futures and options contracts 275 — 275 252 — 252 Cash equities and equity options 1,934 — 1,934 1,201 — 1,201 Fixed income and credit 424 — 424 268 — 268 OTC and other transactions 38 — 38 34 — 34 Pricing and analytics — 845 845 — 809 809 Exchange data and feeds — 552 552 — 528 528 Desktops and connectivity — 330 330 — 315 315 Listings — 334 334 — 336 336 Other revenues 224 — 224 194 — 194 Revenues 3,950 2,061 6,011 2,892 1,988 4,880 Transaction-based expenses 1,646 — 1,646 976 — 976 Revenues, less transaction-based expenses 2,304 2,061 4,365 1,916 1,988 3,904 Operating expenses 998 1,114 2,112 732 1,121 1,853 Operating income $ 1,306 $ 947 $ 2,253 $ 1,184 $ 867 $ 2,051 Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Trading and Clearing Segment Data and Listings Segment Consolidated Trading and Clearing Segment Data and Listings Segment Consolidated Revenues: Energy futures and options contracts $ 229 $ — $ 229 $ 265 $ — $ 265 Agricultural and metals futures and options contracts 54 — 54 60 — 60 Financial futures and options contracts 76 — 76 91 — 91 Cash equities and equity options 593 — 593 401 — 401 Fixed income and credit 191 — 191 101 — 101 OTC and other transactions 12 — 12 11 — 11 Pricing and analytics — 287 287 — 273 273 Exchange data and feeds — 189 189 — 172 172 Desktops and connectivity — 113 113 — 108 108 Listings — 111 111 — 114 114 Other revenues 75 — 75 67 — 67 Revenues 1,230 700 1,930 996 667 1,663 Transaction-based expenses 519 — 519 327 — 327 Revenues, less transaction-based expenses 711 700 1,411 669 667 1,336 Operating expenses 406 378 784 255 375 630 Operating income $ 305 $ 322 $ 627 $ 414 $ 292 $ 706

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of Earnings Per Common Share	The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the nine and three months ended September 30, 2020 and 2019 (in millions, except per share amounts): Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 Basic: Net income attributable to Intercontinental Exchange, Inc. $ 1,563 $ 1,485 $ 390 $ 529 Weighted average common shares outstanding 549 563 548 559 Basic earnings per common share $ 2.85 $ 2.64 $ 0.71 $ 0.95 Diluted: Weighted average common shares outstanding 549 563 548 559 Effect of dilutive securities - stock options and restricted shares 3 3 3 4 Diluted weighted average common shares outstanding 552 566 551 563 Diluted earnings per common share $ 2.83 $ 2.62 $ 0.71 $ 0.94

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Jun. 30, 2020	Jan. 01, 2020	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Collateral maintenance provision percentage	102.00%
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member
Impact of adoption of ASU 2016-13, net of tax	$ (19,052)	$ (17,286)	$ (16,994)		$ (17,185)	$ (17,146)	$ (17,231)
Cumulative Effect, Period Of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Impact of adoption of ASU 2016-13, net of tax		10
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Impact of adoption of ASU 2016-13, net of tax	$ (10,682)	(9,629)	$ (10,462)		$ (9,335)	$ (8,961)	$ (8,317)
Retained Earnings | Cumulative Effect, Period Of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Impact of adoption of ASU 2016-13, net of tax		$ 10		$ 10

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Reconciliation of Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts, beginning balance	$ 8
Bad debt expense	11
Charge-offs	(7)
Allowance for doubtful accounts, ending balance	25	$ 8
Cumulative Effect, Period Of Adoption, Adjustment
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts, beginning balance	$ 13
Allowance for doubtful accounts, ending balance		$ 13

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions	Sep. 04, 2020USD ($)customershares	Feb. 21, 2020	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)
Business Acquisition [Line Items]
Acquisition costs			$ 76	$ 0	$ 90	$ 1
Ellie Mae Intermediate Holdings I
Business Acquisition [Line Items]
Payment to acquire business	$ 11,400
Revenue of acquiree since acquisition date			75		75
Operating expenses of acquiree since acquisition date			$ 56		56
Purchase price of acquisition, cash	9,500
Cash held by acquiree on date of acquisition	335
Purchase price, amount of common stock	$ 1,900
Purchase price, amount of common stock (in shares) | shares	18,400,000
Bridge2 Solutions
Business Acquisition [Line Items]
Acquisition costs					10
Ellie Mae Intermediate Holdings I
Business Acquisition [Line Items]
Number of customers | customer	3,000
Bakkt | Bridge2 Solutions
Business Acquisition [Line Items]
Capital call amount					$ 300
Customer relationships | Bridge2 Solutions
Business Acquisition [Line Items]
Useful life of intangible assets (in years)		12 years
Developed Technology | Ellie Mae Intermediate Holdings I
Business Acquisition [Line Items]
Useful life of intangible assets (in years)					7 years
Developed Technology | Bridge2 Solutions
Business Acquisition [Line Items]
Useful life of intangible assets (in years)		7 years

Acquisitions - Schedule of Prel

Acquisitions - Schedule of Preliminary Purchase Price Allocation (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 04, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 21,243		$ 13,342
Ellie Mae Intermediate Holdings I
Business Acquisition [Line Items]
Cash and cash equivalents		$ 335
Property and equipment		151
Goodwill		7,688
Identifiable intangibles	$ 4,431	4,431
Other assets and liabilities, net		54
Deferred tax liabilities on identifiable intangibles		(1,241)
Total preliminary purchase price allocation		$ 11,418

Acquisitions - Schedule of Comp

Acquisitions - Schedule of Components of the Preliminary Intangible Assets Associated with the Acquisition (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 04, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Total, Net Book Value	$ 14,507		$ 10,258
Ellie Mae Intermediate Holdings I
Business Acquisition [Line Items]
Total	4,431	$ 4,431
Accumulated Amortization	(23)
Total, Net Book Value	4,408
Ellie Mae Intermediate Holdings I | In-process Research & Development
Business Acquisition [Line Items]
In-process Research & Development	67
In-process Research & Development, Net Book Value	67
Customer relationships | Ellie Mae Intermediate Holdings I
Business Acquisition [Line Items]
Intangible assets	3,125
Accumulated Amortization	(11)
Intangible assets, Net Book Value	$ 3,114
Customer relationships | Ellie Mae Intermediate Holdings I | Minimum
Business Acquisition [Line Items]
Useful life of intangible assets (in years)	10 years
Customer relationships | Ellie Mae Intermediate Holdings I | Maximum
Business Acquisition [Line Items]
Useful life of intangible assets (in years)	20 years
Backlog | Ellie Mae Intermediate Holdings I
Business Acquisition [Line Items]
Intangible assets	$ 300
Accumulated Amortization	(3)
Intangible assets, Net Book Value	$ 297
Backlog | Ellie Mae Intermediate Holdings I | Minimum
Business Acquisition [Line Items]
Useful life of intangible assets (in years)	5 years
Backlog | Ellie Mae Intermediate Holdings I | Maximum
Business Acquisition [Line Items]
Useful life of intangible assets (in years)	7 years
Trademark/Tradenames | Ellie Mae Intermediate Holdings I
Business Acquisition [Line Items]
Intangible assets	$ 200
Accumulated Amortization	(1)
Intangible assets, Net Book Value	$ 199
Trademark/Tradenames | Ellie Mae Intermediate Holdings I | Minimum
Business Acquisition [Line Items]
Useful life of intangible assets (in years)	5 years
Trademark/Tradenames | Ellie Mae Intermediate Holdings I | Maximum
Business Acquisition [Line Items]
Useful life of intangible assets (in years)	20 years
Developed Technology | Ellie Mae Intermediate Holdings I
Business Acquisition [Line Items]
Intangible assets	$ 739
Accumulated Amortization	(8)
Intangible assets, Net Book Value	$ 731
Useful life of intangible assets (in years)	7 years

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Options Clearing Corporation
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	40.00%		40.00%
Equity earnings in other income	$ 49	$ 15	$ 84	$ 51
Options Clearing Corporation | Restatement Adjustment
Schedule of Equity Method Investments [Line Items]
Equity earnings in other income	$ 36		$ 36	$ 19
BIDS Trading, LP
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage	9.00%		9.00%

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenues	$ 1,930	$ 1,663	$ 6,011	$ 4,880
Interest rates and other financial futures and options contracts
Disaggregation of Revenue [Line Items]
Total revenues	1,155	929	3,726	2,698
Trading and Clearing Segment
Disaggregation of Revenue [Line Items]
Total revenues	1,230	996	3,950	2,892
Trading and Clearing Segment | Interest rates and other financial futures and options contracts
Disaggregation of Revenue [Line Items]
Total revenues	1,155	929	3,726	2,698
Trading and Clearing Segment | Interest rates and other financial futures and options contracts | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues	$ 57	$ 66	$ 209	$ 188

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenues	$ 1,930	$ 1,663	$ 6,011	$ 4,880
Transaction-based expenses	519	327	1,646	976
Total revenues, less transaction-based expenses	1,411	1,336	4,365	3,904
Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	595	578	1,982	1,653
Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	816	758	2,383	2,251
Trading and Clearing Segment
Disaggregation of Revenue [Line Items]
Total revenues	1,230	996	3,950	2,892
Transaction-based expenses	519	327	1,646	976
Total revenues, less transaction-based expenses	711	669	2,304	1,916
Trading and Clearing Segment | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	595	578	1,982	1,653
Trading and Clearing Segment | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	116	91	322	263
Data and Listings Segment
Disaggregation of Revenue [Line Items]
Total revenues	700	667	2,061	1,988
Transaction-based expenses	0	0	0	0
Total revenues, less transaction-based expenses	700	667	2,061	1,988
Data and Listings Segment | Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	0	0	0	0
Data and Listings Segment | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	700	667	2,061	1,988
Transaction and clearing, net
Disaggregation of Revenue [Line Items]
Total revenues	1,155	929	3,726	2,698
Transaction and clearing, net | Trading and Clearing Segment
Disaggregation of Revenue [Line Items]
Total revenues	1,155	929	3,726	2,698
Transaction and clearing, net | Trading and Clearing Segment | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues	57	66	209	188
Transaction and clearing, net | Data and Listings Segment
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Data services
Disaggregation of Revenue [Line Items]
Total revenues	589	553	1,727	1,652
Data services | Trading and Clearing Segment
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Data services | Data and Listings Segment
Disaggregation of Revenue [Line Items]
Total revenues	589	553	1,727	1,652
Listings
Disaggregation of Revenue [Line Items]
Total revenues	111	114	334	336
Listings | Trading and Clearing Segment
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Listings | Data and Listings Segment
Disaggregation of Revenue [Line Items]
Total revenues	111	114	334	336
Other revenues
Disaggregation of Revenue [Line Items]
Total revenues	75	67	224	194
Other revenues | Trading and Clearing Segment
Disaggregation of Revenue [Line Items]
Total revenues	75	67	224	194
Other revenues | Data and Listings Segment
Disaggregation of Revenue [Line Items]
Total revenues	$ 0	$ 0	$ 0	$ 0

Revenue Recognition - Revenue R

Revenue Recognition - Revenue Related to Investor Relations Performance Obligations Recognized (Details)	Sep. 30, 2020
Services transferred over time | Interest rates and other financial futures and options contracts | Trading and Clearing Segment | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 month

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill Rollforward (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Goodwill [Roll Forward]
Goodwill balance at December 31, 2019	$ 13,342
Acquisitions	7,907
Foreign currency translation	(11)
Other activity, net	5
Goodwill balance at September 30, 2020	$ 21,243

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Other Intangible Rollforward (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Finite-lived Intangible Assets [Roll Forward]
Other intangible assets balance at December 31, 2019	$ 10,258
Acquisitions	4,498
Foreign currency translation	(13)
Amortization of other intangible assets	(236)
Other intangible assets balance at September 30, 2020	$ 14,507

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment loss recognized on goodwill or other intangible assets	$ 0	$ 0

Deferred Revenue - Narrative (D

Deferred Revenue - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Total deferred revenue	$ 360	$ 332	$ 201	$ 217
Deferred revenue, current	267		$ 129
Noncurrent deferred revenue	93
Revenue recognized	$ 92	$ 94

Deferred Revenue - Schedule of

Deferred Revenue - Schedule of Rollforward (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Disaggregation Of Revenue [Roll Forward]
Beginning balance	$ 201	$ 217
Additions	819	728
Amortization	(660)	(613)
Ending balance	360	332
Annual Listings Revenues
Disaggregation Of Revenue [Roll Forward]
Beginning balance	0	0
Additions	384	387
Amortization	(288)	(289)
Ending balance	96	98
Original Listings Revenues
Disaggregation Of Revenue [Roll Forward]
Beginning balance	19	25
Additions	9	11
Amortization	(15)	(17)
Ending balance	13	19
Other Listings Revenues
Disaggregation Of Revenue [Roll Forward]
Beginning balance	94	100
Additions	34	30
Amortization	(31)	(30)
Ending balance	97	100
Data Services and Other Revenues
Disaggregation Of Revenue [Roll Forward]
Beginning balance	88	92
Additions	367	300
Amortization	(326)	(277)
Ending balance	129	$ 115
Mortgage Technology
Disaggregation Of Revenue [Roll Forward]
Beginning balance	0
Additions	25
Amortization	0
Ending balance	$ 25

Debt - Schedule of Outstanding

Debt - Schedule of Outstanding Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Aug. 20, 2020	May 26, 2020	Dec. 31, 2019
Short-term debt:
Commercial Paper	$ 2,460			$ 1,311
Other short-term debt	3			10
Total short-term debt	2,463			2,569
Long-term debt:
Total long-term debt	14,869			5,250
Total debt	17,332			7,819
2022 Term Loan
Long-term debt:
Senior notes	747
2022 Senior Notes (2.35% senior unsecured notes due September 15, 2022)
Long-term debt:
Senior notes	498
2023 Senior Notes (floating rate senior unsecured notes due June 15, 2023)
Long-term debt:
Senior notes	1,244
2023 Senior Notes (0.70% senior unsecured notes due June 15, 2023)
Long-term debt:
Senior notes	994
2023 Senior Notes (3.45% senior unsecured notes due September 21, 2023)
Long-term debt:
Senior notes	398
2023 Senior Notes (4.00% senior unsecured notes due October 15, 2023)
Long-term debt:
Senior notes	795
2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025)
Long-term debt:
Senior notes	1,245
2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027)
Long-term debt:
Senior notes	496
2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028)
Long-term debt:
Senior notes	593
2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030)
Long-term debt:
Senior notes	1,231
2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032)
Long-term debt:
Senior notes	1,481
2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040)
Long-term debt:
Senior notes	1,229
2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048)
Long-term debt:
Senior notes	1,230
2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050)
Long-term debt:
Senior notes	1,219
2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060)
Long-term debt:
Senior notes	$ 1,469
Senior Notes | 2020 Senior Notes (2.75% senior unsecured notes due December 1, 2020)
Debt Instrument [Line Items]
Interest rate, stated percentage	2.75%		2.75%
Short-term debt:
Short-term debt	$ 0			1,248
Senior Notes | 2022 Senior Notes (2.35% senior unsecured notes due September 15, 2022)
Debt Instrument [Line Items]
Interest rate, stated percentage	2.35%
Long-term debt:
Senior notes	$ 498			497
Senior Notes | 2023 Senior Notes (floating rate senior unsecured notes due June 15, 2023)
Long-term debt:
Senior notes	$ 1,244			0
Senior Notes | 2023 Senior Notes (0.70% senior unsecured notes due June 15, 2023)
Debt Instrument [Line Items]
Interest rate, stated percentage	0.70%	0.70%
Long-term debt:
Senior notes	$ 994			0
Senior Notes | 2023 Senior Notes (3.45% senior unsecured notes due September 21, 2023)
Debt Instrument [Line Items]
Interest rate, stated percentage	3.45%
Long-term debt:
Senior notes	$ 398			398
Senior Notes | 2023 Senior Notes (4.00% senior unsecured notes due October 15, 2023)
Debt Instrument [Line Items]
Interest rate, stated percentage	4.00%
Long-term debt:
Senior notes	$ 795			794
Senior Notes | 2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025)
Debt Instrument [Line Items]
Interest rate, stated percentage	3.75%
Long-term debt:
Senior notes	$ 1,245			1,244
Senior Notes | 2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027)
Debt Instrument [Line Items]
Interest rate, stated percentage	3.10%
Long-term debt:
Senior notes	$ 496			496
Senior Notes | 2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028)
Debt Instrument [Line Items]
Interest rate, stated percentage	3.75%
Long-term debt:
Senior notes	$ 593			592
Senior Notes | 2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030)
Debt Instrument [Line Items]
Interest rate, stated percentage	2.10%		2.10%
Long-term debt:
Senior notes	$ 1,231			0
Senior Notes | 2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032)
Debt Instrument [Line Items]
Interest rate, stated percentage	1.85%	1.85%
Long-term debt:
Senior notes	$ 1,481			0
Senior Notes | 2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040)
Debt Instrument [Line Items]
Interest rate, stated percentage	2.65%	2.65%
Long-term debt:
Senior notes	$ 1,229			0
Senior Notes | 2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048)
Debt Instrument [Line Items]
Interest rate, stated percentage	4.25%
Long-term debt:
Senior notes	$ 1,230			1,229
Senior Notes | 2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050)
Debt Instrument [Line Items]
Interest rate, stated percentage	3.00%		3.00%
Long-term debt:
Senior notes	$ 1,219			0
Senior Notes | 2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060)
Debt Instrument [Line Items]
Interest rate, stated percentage	3.00%	3.00%
Long-term debt:
Senior notes	$ 1,469			0
Term Loan | 2022 Term Loan
Long-term debt:
Senior notes	$ 747			$ 0

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Aug. 21, 2020	Sep. 30, 2020	Sep. 30, 2019	Aug. 09, 2023	Aug. 20, 2020	Jun. 30, 2020	May 26, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Other short-term debt		$ 3,000,000						$ 10,000,000
Proceeds from commercial paper		1,149,000,000	$ 367,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 3,700,000,000					$ 3,400,000,000
Additional borrowing capacity	650,000,000
Debt issuance costs	9,000,000
Amount of debt outstanding		0
Currently available for borrowing		3,700,000,000
Amount required to stop broker-dealer subsidiary commitments		171,000,000
Funds available to use for working capital and general and corporate purposes		1,000,000,000
Revolving Credit Facility | Forecast
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 3,600,000,000
Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		20,000,000
Other short-term debt		3,000,000
Commercial Paper | Revolving Credit Facility
Line of Credit Facility [Line Items]
Funds reserved for commercial paper program		$ 2,500,000,000
Weighted average interest rate		0.39%
Weighted average maturity period (in days)		53 days
Commercial Paper | Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Commercial paper maturities (in days)		1 day
Commercial Paper | Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Commercial paper maturities (in days)		358 days
Term Loan | Term Loan | 2022 Term Loan
Line of Credit Facility [Line Items]
Face amount	$ 750,000,000
Debt instrument, term (in months)	18 months
Interest rate, stated percentage	1.125%
Senior Notes
Line of Credit Facility [Line Items]
Debt issuance costs					$ 55,000,000		$ 23,000,000
Face amount					6,500,000,000		2,500,000,000
Senior Notes | 2023 Senior Notes (floating rate senior unsecured notes due June 15, 2023)
Line of Credit Facility [Line Items]
Face amount					1,250,000,000
Senior Notes | 2023 Senior Notes (0.70% senior unsecured notes due June 15, 2023)
Line of Credit Facility [Line Items]
Face amount					$ 1,000,000,000
Interest rate, stated percentage		0.70%			0.70%
Senior Notes | 2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032)
Line of Credit Facility [Line Items]
Face amount					$ 1,500,000,000
Interest rate, stated percentage		1.85%			1.85%
Senior Notes | 2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040)
Line of Credit Facility [Line Items]
Face amount					$ 1,250,000,000
Interest rate, stated percentage		2.65%			2.65%
Senior Notes | 2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060)
Line of Credit Facility [Line Items]
Face amount					$ 1,500,000,000
Interest rate, stated percentage		3.00%			3.00%
Senior Notes | 2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030)
Line of Credit Facility [Line Items]
Face amount							$ 1,250,000,000
Interest rate, stated percentage		2.10%					2.10%
Senior Notes | 2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050)
Line of Credit Facility [Line Items]
Face amount							$ 1,250,000,000
Interest rate, stated percentage		3.00%					3.00%
Senior Notes | 2020 Senior Notes (2.75% senior unsecured notes due December 1, 2020)
Line of Credit Facility [Line Items]
Face amount							$ 1,250,000,000
Interest rate, stated percentage		2.75%					2.75%
Extinguishment of debt		$ 14,000,000
Senior Notes | 2022 Senior Notes (2.35% senior unsecured notes due September 15, 2022)
Line of Credit Facility [Line Items]
Interest rate, stated percentage		2.35%

Shared-Based Compensation - Nar

Shared-Based Compensation - Narrative (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 29, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Class of Stock [Line Items]
Non-cash expense recognized		$ 32	$ 36	$ 105	$ 100
Acquisition costs		76	$ 0	$ 90	$ 1
Time Based Restricted Units
Class of Stock [Line Items]
Cost not yet recognized, period for recognition				3 years
Performance Based Restricted Stock Units
Class of Stock [Line Items]
Unrecognized compensation expense	$ 41	33		$ 33
Cost not yet recognized, period for recognition	3 years
Vested stock options (in shares)	0.5
Stock-based compensation		8		21
Amount of non-cash compensation remaining in fiscal period		8		8
Time Based And Performance Based Restricted Stock
Class of Stock [Line Items]
Unrecognized compensation expense		143		$ 143
Cost not yet recognized, period for recognition				1 year 6 months
Maximum | Performance Based Restricted Stock Units
Class of Stock [Line Items]
Unrecognized compensation expense	$ 82
Shares reserved for future issuance (in shares)	0.9
Employee Stock Option
Class of Stock [Line Items]
Unrecognized compensation expense		$ 10		$ 10
Cost not yet recognized, period for recognition				1 year 7 months 6 days
Bridge2 Solutions
Class of Stock [Line Items]
Acquisition costs				$ 10
Bridge2 Solutions | Bakkt
Class of Stock [Line Items]
Capital call amount				$ 300

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Number of Options (in thousands)
Outstanding beginning balance (in shares) | shares	3,501
Granted (in shares) | shares	413
Exercised (in shares) | shares	(592)
Forfeited (in shares) | shares	(13)
Outstanding ending balance (in shares) | shares	3,309
Weighted Average Exercise Price per Option
Outstanding beginning balance (in dollars per share) | $ / shares	$ 51.87
Granted (in dollars per share) | $ / shares	92.63
Exercised (in dollars per share) | $ / shares	43.11
Forfeited (in dollars per share) | $ / shares	67
Outstanding ending balance (in dollars per share) | $ / shares	$ 58.48

Share-Based Compensation - Deta

Share-Based Compensation - Details of Stock Options (Details) $ / shares in Units, shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Vested or expected to vest
Number of Options (in shares) | shares	3,309
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 58.48
Weighted Average Remaining Contractual Life	6 years 1 month 6 days
Aggregate Intrinsic Value | $	$ 138
Exercisable
Number of Options (in shares) | shares	2,407
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 49.62
Weighted Average Remaining Contractual Life	5 years 1 month 6 days
Aggregate Intrinsic Value | $	$ 121

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Stock Options Exercised (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised	$ 7	$ 7	$ 29	$ 25

Share-Based Compensation - Valu

Share-Based Compensation - Valuation Assumptions (Details) - $ / shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Equity [Abstract]
Risk-free interest rate	1.46%	2.49%
Expected life in years	5 years 9 months 18 days	5 years 10 months 24 days
Expected volatility	20.00%	20.00%
Expected dividend yield	1.30%	1.44%
Estimated weighted-average fair value of options granted per share (in dollars per share)	$ 16.65	$ 15.45

Share-Based Compensation - Nonv

Share-Based Compensation - Nonvested Restricted Stock Activity (Details) - Restricted Stock - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Number of Restricted Shares (in thousands)
Non-vested beginning balance (in shares)	3,728
Granted (in shares)	1,464
Vested (in shares)	(1,986)
Forfeited (in shares)	(83)
Non-vested ending balance (in shares)	3,123
Weighted Average Grant-Date Fair Value per Share
Non-vested beginning balance (in dollars per share)	$ 68.87
Granted (in dollars per share)	93.18
Vested (in dollars per share)	64.94
Forfeited (in dollars per share)	77.04
Non-vested ending balance (in dollars per share)	$ 82.55
Granted (in shares)	1,464
Total fair value of restricted stock vested under all restricted stock plans	$ 180	$ 166
Time Based Restricted Units
Number of Restricted Shares (in thousands)
Granted (in shares)	891	975
Weighted Average Grant-Date Fair Value per Share
Granted (in shares)	891	975

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jan. 01, 2020
Class of Stock [Line Items]
Stock repurchase program, authorized amount					$ 2,400,000,000
Repurchases of common stock	$ 148,000,000	$ 340,000,000	$ 1,247,000,000	$ 1,120,000,000
Stock repurchase program, remaining authorized amount	$ 1,200,000,000		$ 1,200,000,000
Cash dividends per share (in dollars per share)	$ 0.30	$ 0.275	$ 0.90	$ 0.825
Aggregate payout	$ 170,000,000	$ 155,000,000	$ 500,000,000	$ 467,000,000
Rule 10b5-1 Trading Plan
Class of Stock [Line Items]
Repurchases of common stock (in shares)			10.4
Repurchases of common stock			$ 948,000,000
Open Market
Class of Stock [Line Items]
Repurchases of common stock (in shares)			3.2
Repurchases of common stock			$ 299,000,000

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ 16,994	$ 17,146	$ 17,286	$ 17,231
Other comprehensive income (loss)	48	(39)	(30)	(33)
Ending Balance	19,052	17,185	19,052	17,185
Accumulated other comprehensive loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(321)	(309)	(243)	(315)
Other comprehensive income (loss)	49	(40)	(29)	(34)
Income tax benefit (expense)	(1)	1	(1)	1
Other comprehensive income (loss)	48	(39)	(30)	(33)
Ending Balance	(273)	(348)	(273)	(348)
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(255)	(220)	(177)	(227)
Other comprehensive income (loss)	49	(40)	(29)	(33)
Income tax benefit (expense)	(1)	1	(1)	1
Other comprehensive income (loss)	48	(39)	(30)	(32)
Ending Balance	(207)	(259)	(207)	(259)
Comprehensive income from equity method investment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	1	1	1	2
Other comprehensive income (loss)	0	0	0	(1)
Income tax benefit (expense)	0	0	0	0
Other comprehensive income (loss)	0	0	0	(1)
Ending Balance	1	1	1	1
Employee benefit plans adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(67)	(90)	(67)	(90)
Other comprehensive income (loss)	0	0	0	0
Income tax benefit (expense)	0	0	0	0
Other comprehensive income (loss)	0	0	0	0
Ending Balance	$ (67)	$ (90)	$ (67)	$ (90)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate	32.00%	16.00%	24.00%	20.00%
Deferred tax expense	$ 65

Clearing Operations - Narrative

Clearing Operations - Narrative (Details) € in Millions	1 Months Ended		9 Months Ended
	Apr. 30, 2020USD ($)	Sep. 30, 2019	Sep. 30, 2020USD ($)clearingHouse	Sep. 30, 2020EUR (€)	Dec. 31, 2019USD ($)
Principal Transaction Revenue [Line Items]
Number of clearing houses | clearingHouse			6
Margin deposits and guaranty funds assets received or pledged			$ 162,100,000,000		$ 126,000,000,000
Default insurance term (in years)		3 years
Default insurance			250,000,000		250,000,000
Maximum exposure, undiscounted			142,000,000,000
ICE Clear U.S.
Principal Transaction Revenue [Line Items]
Contribution applicable to any losses associated with a default in Bitcoin contracts and other digital asset contracts			35,000,000
Default insurance					25,000,000
Committed repo			250,000,000
ICE Clear Europe
Principal Transaction Revenue [Line Items]
Guaranty fund contribution, increase	$ 4,000,000
Default insurance			75,000,000		75,000,000
Committed repo			1,000,000,000
ICE Clear Credit
Principal Transaction Revenue [Line Items]
Default insurance			50,000,000		50,000,000
Committed repo			300,000,000	€ 250
Committed FX facilities | €				1,900
ICE NGX
Principal Transaction Revenue [Line Items]
Default insurance			100,000,000		$ 100,000,000
First-loss amount			15,000,000
ICE Clear Netherlands
Principal Transaction Revenue [Line Items]
Committed FX facilities | €				€ 10
Letter of Credit | ICE NGX
Principal Transaction Revenue [Line Items]
Debt instrument, face amount			100,000,000
Additional losses under insurance policy			$ 100,000,000

Clearing Operations - Guaranty

Clearing Operations - Guaranty Fund Contributions and Default Insurance (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Clearing Organizations [Line Items]
ICE Portion of Guaranty Fund Contribution	$ 408	$ 404
Default insurance	250	250
ICE Clear Europe
Clearing Organizations [Line Items]
ICE Portion of Guaranty Fund Contribution	237	233
Default insurance	75	75
ICE Clear U.S.
Clearing Organizations [Line Items]
ICE Portion of Guaranty Fund Contribution	103	103
Default insurance	25	25
ICE Clear Credit
Clearing Organizations [Line Items]
ICE Portion of Guaranty Fund Contribution	50	50
Default insurance	50	50
ICE Clear Netherlands
Clearing Organizations [Line Items]
ICE Portion of Guaranty Fund Contribution	2	2
ICE Clear Singapore
Clearing Organizations [Line Items]
ICE Portion of Guaranty Fund Contribution	1	1
ICE NGX
Clearing Organizations [Line Items]
ICE Portion of Guaranty Fund Contribution	15	15
Default insurance	$ 100	$ 100

Clearing Operations - Cash and

Clearing Operations - Cash and Cash Equivalent Deposits (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Clearing Organizations [Line Items]
Original margin	$ 77,948	$ 57,267
Unsettled variation margin, net	137	255
Guaranty fund	7,397	6,880
Delivery contracts receivable/payable, net	418	585
Total	85,900	64,987
ICE Clear Europe
Clearing Organizations [Line Items]
Original margin	34,666	28,318
Unsettled variation margin, net	0	0
Guaranty fund	4,247	4,144
Delivery contracts receivable/payable, net	0	0
Total	38,913	32,462
ICE Clear Europe | Futures and options
Clearing Organizations [Line Items]
Total	32,300	27,400
ICE Clear Europe | CDS
Clearing Organizations [Line Items]
Total	6,600	5,100
ICE Clear Credit
Clearing Organizations [Line Items]
Original margin	37,463	22,145
Unsettled variation margin, net	0	0
Guaranty fund	2,611	2,268
Delivery contracts receivable/payable, net	0	0
Total	40,074	24,413
ICE Clear U.S.
Clearing Organizations [Line Items]
Original margin	5,815	6,802
Unsettled variation margin, net	0	0
Guaranty fund	534	463
Delivery contracts receivable/payable, net	0	0
Total	6,349	7,265
ICE NGX
Clearing Organizations [Line Items]
Original margin	0	0
Unsettled variation margin, net	137	255
Guaranty fund	0	0
Delivery contracts receivable/payable, net	418	585
Total	555	840
Other ICE Clearing Houses
Clearing Organizations [Line Items]
Original margin	4	2
Unsettled variation margin, net	0	0
Guaranty fund	5	5
Delivery contracts receivable/payable, net	0	0
Total	$ 9	$ 7

Clearing Operations - Separate

Clearing Operations - Separate Cash Accounts (Details) € in Millions, £ in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Sep. 30, 2020USD ($)	Sep. 30, 2020EUR (€)	Sep. 30, 2020GBP (£)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2019GBP (£)
Clearing Organizations [Line Items]
Cash deposits		$ 85,900			$ 64,987
Cash Deposit Based On Euro/US Dollar Exchange Rate | De Nederlandsche Bank | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		$ 7,800	€ 6,600		9,000	€ 8,000
Exchange rate to USD	1.1212	1.1721
Cash Deposit Based On Euro/US Dollar Exchange Rate | Bank of England | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		$ 12	€ 10		11	€ 10
Cash Deposit Based On Pound Sterling/US Dollar Exchange Rate | Bank of England | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		$ 2,600		£ 2,000	663		£ 500
Exchange rate to USD	1.3260	1.2923
National Bank Account | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		$ 10,355			9,667
National Bank Account | ICE Clear Credit
Clearing Organizations [Line Items]
Cash deposits		31,924			19,480
Reverse repo | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		25,328			19,187
Reverse repo | ICE Clear Credit
Clearing Organizations [Line Items]
Cash deposits		4,630			2,411
Reverse repo | ICE Clear U.S.
Clearing Organizations [Line Items]
Cash deposits		4,849			4,320
Sovereign Debt | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		3,226			3,591
Sovereign Debt | ICE Clear U.S.
Clearing Organizations [Line Items]
Cash deposits		1,500			2,945
Demand deposits | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		4			17
Demand deposits | ICE Clear Credit
Clearing Organizations [Line Items]
Cash deposits		3,520			2,522
Demand deposits | Other ICE Clearing Houses
Clearing Organizations [Line Items]
Cash deposits		9			7
Unsettled Variation Margin and Delivery Contracts Receivable/Payable | ICE NGX
Clearing Organizations [Line Items]
Cash deposits		$ 555			$ 840

Clearing Operations - Assets Pl

Clearing Operations - Assets Pledged by Clearing Members (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Original Margin
Original margin:
Government securities at face value	$ 72,396	$ 56,978
Letters of credit	2,172	2,469
ICE NGX cash deposits	305	362
Total	74,873	59,809
Guaranty Fund
Guaranty fund:
Government securities at face value	1,295	1,241
ICE Clear Europe | Original Margin
Original margin:
Government securities at face value	42,022	30,635
Letters of credit	0	0
ICE NGX cash deposits	0	0
Total	42,022	30,635
ICE Clear Europe | Guaranty Fund
Guaranty fund:
Government securities at face value	502	475
ICE Clear Credit | Original Margin
Original margin:
Government securities at face value	8,846	13,710
Letters of credit	0	0
ICE NGX cash deposits	0	0
Total	8,846	13,710
ICE Clear Credit | Guaranty Fund
Guaranty fund:
Government securities at face value	594	523
ICE Clear U.S. | Original Margin
Original margin:
Government securities at face value	21,528	12,633
Letters of credit	0	0
ICE NGX cash deposits	0	0
Total	21,528	12,633
ICE Clear U.S. | Guaranty Fund
Guaranty fund:
Government securities at face value	199	243
ICE NGX | Original Margin
Original margin:
Government securities at face value	0	0
Letters of credit	2,172	2,469
ICE NGX cash deposits	305	362
Total	2,477	2,831
ICE NGX | Guaranty Fund
Guaranty fund:
Government securities at face value	$ 0	$ 0

Clearing Operations - Cash as C

Clearing Operations - Cash as Collateral with NGX (Details) - Sep. 30, 2020 - ICE NGX $ in Millions, $ in Millions	CAD ($)	USD ($)
Clearing Organizations [Line Items]
Daylight liquidity facility	$ 300	$ 225
Overdraft facility	20	15
Total	$ 320	$ 240

Legal Proceedings (Details)

Legal Proceedings (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2017USD ($)	Dec. 31, 2018clearingHouse
ICE Clear US and ICE Clear Europe Limited | CME Group, Inc.
Loss Contingencies [Line Items]
Number of clearing houses filed suit against | clearingHouse			2
License agreement, term (in years)		10 years
License agreement amount paid | $		$ 50,001
Period following expiration of license agreement (in years)	1 year
Subsidiary | ICE Data PRD, LLC
Loss Contingencies [Line Items]
Percentage of broker quoted securities less than securities priced by PRD	2.00%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Aug. 20, 2020	May 26, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of commercial paper	$ 2,460			$ 1,311
Fair value of commercial paper	2,463
Carrying value of other short-term debt	3			10
Fair value of other short-term debt	3
Fair value of debt	18,409
Total debt	17,332			7,819
2022 Term Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	747
Fair value of debt	750
2022 Senior Notes (2.35% senior unsecured notes due September 15, 2022)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	498
Fair value of debt	$ 518
2022 Senior Notes (2.35% senior unsecured notes due September 15, 2022) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	2.35%
Carrying amount of debt	$ 498			497
2023 Senior Notes (floating rate senior unsecured notes due June 15, 2023)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	1,244
Fair value of debt	1,258
2023 Senior Notes (floating rate senior unsecured notes due June 15, 2023) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	1,244			0
2023 Senior Notes (0.70% senior unsecured notes due June 15, 2023)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	994
Fair value of debt	$ 1,004
2023 Senior Notes (0.70% senior unsecured notes due June 15, 2023) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	0.70%	0.70%
Carrying amount of debt	$ 994			0
2023 Senior Notes (3.45% senior unsecured notes due September 21, 2023)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	398
Fair value of debt	$ 433
2023 Senior Notes (3.45% senior unsecured notes due September 21, 2023) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	3.45%
Carrying amount of debt	$ 398			398
2023 Senior Notes (4.00% senior unsecured notes due October 15, 2023)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	795
Fair value of debt	$ 881
2023 Senior Notes (4.00% senior unsecured notes due October 15, 2023) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	4.00%
Carrying amount of debt	$ 795			794
2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	1,245
Fair value of debt	$ 1,419
2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	3.75%
Carrying amount of debt	$ 1,245			1,244
2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	496
Fair value of debt	$ 553
2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	3.10%
Carrying amount of debt	$ 496			496
2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	593
Fair value of debt	$ 696
2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	3.75%
Carrying amount of debt	$ 593			592
2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	1,231
Fair value of debt	$ 1,293
2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	2.10%		2.10%
Carrying amount of debt	$ 1,231			0
2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	1,481
Fair value of debt	$ 1,497
2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	1.85%	1.85%
Carrying amount of debt	$ 1,481			0
2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	1,229
Fair value of debt	$ 1,253
2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	2.65%	2.65%
Carrying amount of debt	$ 1,229			0
2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	1,230
Fair value of debt	$ 1,553
2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	4.25%
Carrying amount of debt	$ 1,230			1,229
2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	1,219
Fair value of debt	$ 1,316
2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	3.00%		3.00%
Carrying amount of debt	$ 1,219			0
2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount of debt	1,469
Fair value of debt	$ 1,519
2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	3.00%	3.00%
Carrying amount of debt	$ 1,469			$ 0

Segment Reporting (Details)

Segment Reporting (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)segment	Sep. 30, 2019USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			2
Number of operating segments | segment			2
Revenues:
Total revenues	$ 1,930	$ 1,663	$ 6,011	$ 4,880
Transaction-based expenses	519	327	1,646	976
Total revenues, less transaction-based expenses	1,411	1,336	4,365	3,904
Operating expenses	784	630	2,112	1,853
Operating Income (Loss)	627	706	2,253	2,051
Trading and Clearing Segment
Revenues:
Total revenues	1,230	996	3,950	2,892
Total revenues, less transaction-based expenses	711	669	2,304	1,916
Operating expenses	406	255	998	732
Operating Income (Loss)	305	414	1,306	1,184
Data and Listings Segment
Revenues:
Total revenues	700	667	2,061	1,988
Transaction-based expenses	0	0	0	0
Total revenues, less transaction-based expenses	700	667	2,061	1,988
Operating expenses	378	375	1,114	1,121
Operating Income (Loss)	322	292	947	867
Sales Revenue, Net | Trading and Clearing Segment | Two clearing members
Revenues:
Total revenues	$ 76		$ 276
Concentration risk, percentage	11.00%		12.00%
Sales Revenue, Net | Trading and Clearing Segment | One clearing member
Revenues:
Total revenues		$ 92		$ 286
Concentration risk, percentage		14.00%		15.00%
Energy futures and options contracts
Revenues:
Total revenues	$ 229	$ 265	$ 858	$ 749
Energy futures and options contracts | Trading and Clearing Segment
Revenues:
Total revenues	229	265	858	749
Energy futures and options contracts | Data and Listings Segment
Revenues:
Total revenues	0	0	0	0
Agricultural and metals futures and options contracts
Revenues:
Total revenues	54	60	197	194
Agricultural and metals futures and options contracts | Trading and Clearing Segment
Revenues:
Total revenues	54	60	197	194
Agricultural and metals futures and options contracts | Data and Listings Segment
Revenues:
Total revenues	0	0	0	0
Financial futures and options contracts
Revenues:
Total revenues	76	91	275	252
Financial futures and options contracts | Trading and Clearing Segment
Revenues:
Total revenues	76	91	275	252
Financial futures and options contracts | Data and Listings Segment
Revenues:
Total revenues	0	0	0	0
Cash equities and equity options
Revenues:
Total revenues	593	401	1,934	1,201
Cash equities and equity options | Trading and Clearing Segment
Revenues:
Total revenues	593	401	1,934	1,201
Cash equities and equity options | Data and Listings Segment
Revenues:
Total revenues	0	0	0	0
Fixed income and credit
Revenues:
Total revenues	191	101	424	268
Fixed income and credit | Trading and Clearing Segment
Revenues:
Total revenues	191	101	424	268
Fixed income and credit | Data and Listings Segment
Revenues:
Total revenues	0	0	0	0
OTC and other transactions
Revenues:
Total revenues	12	11	38	34
OTC and other transactions | Trading and Clearing Segment
Revenues:
Total revenues	12	11	38	34
OTC and other transactions | Data and Listings Segment
Revenues:
Total revenues	0	0	0	0
Pricing and analytics
Revenues:
Total revenues	287	273	845	809
Pricing and analytics | Trading and Clearing Segment
Revenues:
Total revenues	0	0	0	0
Pricing and analytics | Data and Listings Segment
Revenues:
Total revenues	287	273	845	809
Exchange data and feeds
Revenues:
Total revenues	189	172	552	528
Exchange data and feeds | Trading and Clearing Segment
Revenues:
Total revenues	0	0	0	0
Exchange data and feeds | Data and Listings Segment
Revenues:
Total revenues	189	172	552	528
Desktops and connectivity
Revenues:
Total revenues	113	108	330	315
Desktops and connectivity | Trading and Clearing Segment
Revenues:
Total revenues	0	0	0	0
Desktops and connectivity | Data and Listings Segment
Revenues:
Total revenues	113	108	330	315
Listings
Revenues:
Total revenues	111	114	334	336
Listings | Trading and Clearing Segment
Revenues:
Total revenues	0	0	0	0
Listings | Data and Listings Segment
Revenues:
Total revenues	111	114	334	336
Other revenues
Revenues:
Total revenues	75	67	224	194
Other revenues | Trading and Clearing Segment
Revenues:
Total revenues	75	67	224	194
Other revenues | Data and Listings Segment
Revenues:
Total revenues	$ 0	$ 0	$ 0	$ 0

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Basic:
Net income attributable to Intercontinental Exchange, Inc.	$ 390	$ 529	$ 1,563	$ 1,485
Weighted average common shares outstanding (in shares)	548,000	559,000	549,000	563,000
Basic earnings per common share (in dollars per share)	$ 0.71	$ 0.95	$ 2.85	$ 2.64
Diluted:
Weighted average common shares outstanding (in shares)	548,000	559,000	549,000	563,000
Effect of dilutive securities - stock options and restricted (in shares) shares	3,000	4,000	3,000	3,000
Diluted weighted average common shares outstanding (in shares)	551,000	563,000	552,000	566,000
Diluted earnings per common share (in dollars per share)	$ 0.71	$ 0.94	$ 2.83	$ 2.62
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)			358	437

Subsequent Events (Details)

Subsequent Events (Details) - segment	Oct. 01, 2020	Sep. 30, 2020
Subsequent Event [Line Items]
Number of reportable segments		2
Subsequent Event
Subsequent Event [Line Items]
Number of reportable segments	3