Intercontinental Exchange (ICE) 10-Q 3 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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		560,301,373
Entity Central Index Key	0001571949
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,877	$ 1,799
Short-term restricted cash and cash equivalents	5,413	6,149
Restricted short-term investments	735	0
Cash and cash equivalent margin deposits and guaranty funds	86,917	141,990
Invested deposits, delivery contracts receivable and unsettled variation margin	1,412	5,382
Customer accounts receivable, net of allowance for doubtful accounts of $25 and $22 at June 30, 2023 and December 31, 2022, respectively	1,313	1,169
Prepaid expenses and other current assets	555	458
Total current assets	99,222	156,947
Property and equipment, net	1,718	1,767
Other non-current assets:
Goodwill	21,134	21,111
Other intangible assets, net	12,814	13,090
Long-term restricted cash and cash equivalents	205	405
Long-term restricted investments	199	0
Other non-current assets	991	1,018
Total other non-current assets	35,343	35,624
Total assets	136,283	194,338
Current liabilities:
Accounts payable and accrued liabilities	919	866
Section 31 fees payable	173	223
Accrued salaries and benefits	226	352
Deferred revenue	437	170
Short-term debt	0	4
Margin deposits and guaranty funds	86,917	141,990
Invested deposits, delivery contracts payable and unsettled variation margin	1,412	5,382
Other current liabilities	120	184
Total current liabilities	90,204	149,171
Non-current liabilities:
Non-current deferred tax liability, net	3,256	3,493
Long-term debt	18,128	18,118
Accrued employee benefits	156	160
Non-current operating lease liability	218	254
Other non-current liabilities	432	381
Total non-current liabilities	22,190	22,406
Total liabilities	112,394	171,577
Commitments and contingencies
Intercontinental Exchange, Inc. stockholders’ equity:
Preferred stock, $0.01 par value; 100 shares authorized; none issued or outstanding	0	0
Common stock, $0.01 par value; 1,500 shares authorized; 636 and 634 issued at June 30, 2023 and December 31, 2022, respectively, and 560 and 559 shares outstanding at June 30, 2023 and December 31, 2022, respectively	6	6
Treasury stock, at cost; 76 and 75 shares at June 30, 2023 and December 31, 2022, respectively	(6,276)	(6,225)
Additional paid-in capital	14,449	14,313
Retained earnings	15,925	14,943
Accumulated other comprehensive loss	(284)	(331)
Total Intercontinental Exchange, Inc. stockholders’ equity	23,820	22,706
Non-controlling interest in consolidated subsidiaries	69	55
Total equity	23,889	22,761
Total liabilities and equity	$ 136,283	$ 194,338

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Customer accounts receivable, net of allowance for doubtful accounts	$ 25	$ 22
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)	636,000,000	634,000,000
Common stock, outstanding (in shares)	560,000,000	559,000,000
Treasury stock (in shares)	76,000,000	75,000,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Total revenues	$ 2,336	$ 2,413	$ 4,808	$ 4,872
Transaction-based expenses:
Section 31 fees	56	123	175	174
Cash liquidity payments, routing and clearing	392	476	849	985
Total revenues, less transaction-based expenses	1,888	1,814	3,784	3,713
Operating expenses:
Compensation and benefits	351	355	703	714
Professional services	29	35	57	69
Acquisition-related transaction and integration costs	25	53	46	62
Technology and communication	173	169	345	344
Rent and occupancy	25	20	45	41
Selling, general and administrative	63	57	137	112
Depreciation and amortization	267	256	527	510
Total operating expenses	933	945	1,860	1,852
Operating income	955	869	1,924	1,861
Other income/(expense):
Interest income	102	8	193	9
Interest expense	(175)	(161)	(351)	(264)
Other income/(expense), net	(35)	23	(70)	(35)
Total other income/(expense), net	(108)	(130)	(228)	(290)
Income before income tax expense	847	739	1,696	1,571
Income tax expense	32	173	207	338
Net income	815	566	1,489	1,233
Net income attributable to non-controlling interest	(16)	(11)	(35)	(21)
Net income attributable to Intercontinental Exchange, Inc.	$ 799	$ 555	$ 1,454	$ 1,212
Earnings per share attributable to Intercontinental Exchange, Inc. common stockholders:
Basic (in dollars per share)	$ 1.43	$ 0.99	$ 2.60	$ 2.17
Diluted (in dollars per share)	$ 1.42	$ 0.99	$ 2.59	$ 2.16
Weighted average common shares outstanding:
Basic (in shares)	560	558	560	560
Diluted (in shares)	561	560	561	562
Exchanges
Revenues:
Total revenues	$ 1,541	$ 1,604	$ 3,214	$ 3,247
Fixed income and data services
Revenues:
Total revenues	546	512	1,109	1,021
Mortgage technology
Revenues:
Total revenues	$ 249	$ 297	$ 485	$ 604

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 815	$ 566	$ 1,489	$ 1,233
Other comprehensive income/(loss):
Foreign currency translation adjustments	31	(84)	47	(109)
Other comprehensive income/(loss)	31	(84)	47	(109)
Comprehensive income	846	482	1,536	1,124
Comprehensive income attributable to non-controlling interest	(16)	(11)	(35)	(21)
Comprehensive income attributable to Intercontinental Exchange, Inc.	$ 830	$ 471	$ 1,501	$ 1,103

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity and Redeemable Non-Controlling Interest - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income/(Loss)	Non- Controlling Interest in Consolidated Subsidiaries
Common stock, shares beginning (in shares) at Jun. 30, 2022		633
Treasury stock, shares beginning (in shares) at Dec. 31, 2021			(70)
Beginning balance at Dec. 31, 2021	$ 22,748	$ 6	$ (5,520)	$ 14,069	$ 14,350	$ (196)	$ 39
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(109)					(109)
Exercise of common stock options	$ 20			20
Repurchases of common stock (in shares)	(5)		(4)
Repurchases of common stock	$ (632)		$ (632)
Payments relating to treasury shares (in shares)			(1)
Payments relating to treasury shares	(71)		$ (71)
Stock-based compensation	88			88
Issuance under the employee stock purchase plan	24			24
Issuance of restricted stock (in shares)		2
Distributions of profits	(13)						(13)
Dividends paid to stockholders	(427)				(427)
Net income/(loss) attributable to non-controlling interest	0				(21)		21
Net income	1,233				1,233
Common stock, shares ending (in shares) at Dec. 31, 2021		631
Treasury stock, shares ending (in shares) at Jun. 30, 2022			(75)
Ending balance at Jun. 30, 2022	22,861	$ 6	$ (6,223)	14,201	15,135	(305)	47
Common stock, shares beginning (in shares) at Jun. 30, 2022		633
Treasury stock, shares beginning (in shares) at Mar. 31, 2022			(74)
Beginning balance at Mar. 31, 2022	22,703	$ 6	$ (6,064)	14,153	14,793	(221)	36
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(84)					(84)
Exercise of common stock options	$ 5			5
Repurchases of common stock (in shares)	(1.3)		(1)
Repurchases of common stock	$ (157)		$ (157)
Payments relating to treasury shares	(2)		$ (2)
Stock-based compensation	43			43
Dividends paid to stockholders	(213)				(213)
Net income/(loss) attributable to non-controlling interest	0				(11)		11
Net income	566				566
Common stock, shares ending (in shares) at Mar. 31, 2022		633
Treasury stock, shares ending (in shares) at Jun. 30, 2022			(75)
Ending balance at Jun. 30, 2022	$ 22,861	$ 6	$ (6,223)	14,201	15,135	(305)	47
Common stock, shares beginning (in shares) at Jun. 30, 2023	560	636
Treasury stock, shares beginning (in shares) at Dec. 31, 2022	(75)		(75)
Beginning balance at Dec. 31, 2022	$ 22,761	$ 6	$ (6,225)	14,313	14,943	(331)	55
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	47					47
Exercise of common stock options	$ 24			24
Repurchases of common stock (in shares)	0
Payments relating to treasury shares (in shares)			(1)
Payments relating to treasury shares	$ (51)		$ (51)
Stock-based compensation	94			94
Issuance under the employee stock purchase plan	18			18
Contribution from equity partners	9						9
Issuance of restricted stock (in shares)		2
Distributions of profits	(30)						(30)
Dividends paid to stockholders	(472)				(472)
Net income/(loss) attributable to non-controlling interest	0				(35)		35
Net income	$ 1,489				1,489
Common stock, shares ending (in shares) at Dec. 31, 2022	559	634
Treasury stock, shares ending (in shares) at Jun. 30, 2023	(76)		(76)
Ending balance at Jun. 30, 2023	$ 23,889	$ 6	$ (6,276)	14,449	15,925	(284)	69
Common stock, shares beginning (in shares) at Jun. 30, 2023	560	636
Treasury stock, shares beginning (in shares) at Mar. 31, 2023			(76)
Beginning balance at Mar. 31, 2023	$ 23,211	$ 6	$ (6,274)	14,388	15,362	(315)	44
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	31					31
Exercise of common stock options	$ 14			14
Repurchases of common stock (in shares)	0
Payments relating to treasury shares	$ (2)		$ (2)
Stock-based compensation	47			47
Contribution from equity partners	9						9
Issuance of restricted stock (in shares)		1
Dividends paid to stockholders	(236)				(236)
Net income/(loss) attributable to non-controlling interest	0				(16)		16
Net income	$ 815				815
Common stock, shares ending (in shares) at Mar. 31, 2023		635
Treasury stock, shares ending (in shares) at Jun. 30, 2023	(76)		(76)
Ending balance at Jun. 30, 2023	$ 23,889	$ 6	$ (6,276)	$ 14,449	$ 15,925	$ (284)	$ 69

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities:
Net income	$ 1,489	$ 1,233
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	527	510
Stock-based compensation	85	76
Deferred taxes	(239)	(147)
Gain on sale of Euroclear investment	0	(41)
Net losses from unconsolidated investees	65	57
Other	26	21
Changes in assets and liabilities:
Customer accounts receivable	(181)	(177)
Other current and non-current assets	(66)	(48)
Section 31 fees payable	(50)	115
Deferred revenue	279	292
Other current and non-current liabilities	(130)	(166)
Total adjustments	316	492
Net cash provided by operating activities	1,805	1,725
Investing activities:
Capital expenditures	(61)	(70)
Capitalized software development costs	(142)	(134)
Purchases of invested margin deposits	(771)	(1,431)
Proceeds from sales of invested margin deposits	3,078	3,815
Cash paid for acquisitions, net of cash acquired	(5)	(36)
Purchases of equity and equity method investments	(6)	(43)
Proceeds from sale of Euroclear investment	0	741
Purchases of investments	(949)	0
Other	0	1
Net cash provided by investing activities	1,144	2,843
Financing activities:
Proceeds from/(repayments of) debt facilities, net	(4)
Proceeds from/(repayments of) debt facilities, net		5,186
Redemption of commercial paper, net	0	(1,012)
Capital contributions from non-controlling interests	9	0
Repurchases of common stock	0	(632)
Dividends to stockholders	(472)	(427)
Change in cash and cash equivalent margin deposits and guaranty funds	(57,380)	16,163
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises	(50)	(71)
Other	11	31
Net cash provided by/(used in) financing activities	(57,886)	19,238
Effect of exchange rate changes on cash, cash equivalents, restricted cash and cash equivalents, and cash and cash equivalent margin deposits and guaranty funds	6	(19)
Net increase/(decrease) in cash, cash equivalents, restricted cash and cash equivalents, and cash and cash equivalent margin deposits and guaranty funds	(54,931)	23,787
Cash, cash equivalents, restricted cash and cash equivalents, and cash and cash equivalent margin deposits and guaranty funds at beginning of period	150,343	147,976
Cash, cash equivalents, restricted cash and cash equivalents, and cash and cash equivalent margin deposits and guaranty funds at end of period	95,412	171,763
Supplemental cash flow disclosure:
Cash paid for income taxes	536	524
Cash paid for interest	341	226
Reconciliation of the components of cash, cash equivalents, restricted cash and cash equivalents, and cash and cash equivalent margin deposits and guaranty funds to the balance sheet:
Cash and cash equivalents	2,877	830
Short-term restricted cash and cash equivalents	5,413	6,045
Long-term restricted cash and cash equivalents	205	405
Cash and cash equivalent margin deposits and guaranty funds	86,917	164,483
Total	$ 95,412	$ 171,763

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Nature of Business and Organization Intercontinental Exchange, Inc. is a provider of market infrastructure, data services and technology solutions to a broad range of customers including financial institutions, corporations and government entities. These products, which span major asset classes including futures, equities, fixed income and United States, or U.S., residential mortgages provide our customers with access to mission critical tools that are designed to increase asset class transparency and workflow efficiency. Our business is conducted through three reportable business segments: • Exchanges: We operate regulated marketplaces for the listing, trading and clearing of a broad array of derivatives contracts and financial securities. • Fixed Income and Data Services: We provide fixed income pricing, reference data, indices, analytics and execution services as well as global credit default swap, or CDS, clearing and multi-asset class data delivery solutions. • Mortgage Technology: We provide a technology platform that offers customers comprehensive, digital workflow tools that aim to address the inefficiencies that exist in the U.S. residential mortgage market, from application through closing and the secondary market. We operate marketplaces, technology and provide data services in the U.S., United Kingdom, or U.K., European Union, or EU, Canada, Asia Pacific and the Middle East.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared 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, 2022. 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 six months and three months ended June 30, 2023 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. We have considered the impacts of macroeconomic conditions during the quarter, including interest rates, the inflationary environment, geopolitical events and military conflicts, including repercussions from the conflict in Ukraine, and the impact that any of the foregoing may have on the global economy and on our business. As of June 30, 2023, our businesses and operations, including our exchanges, clearing houses, listings venues, data services businesses and mortgage platforms, have not suffered a material negative impact as a result of these events. There continues to be uncertainty surrounding the current macroeconomic environment and the impact that it may have on the global economy and on our business. Recently Adopted Accounting Pronouncements During the six months ended June 30, 2023, there were no significant changes to the new and recently adopted accounting pronouncements applicable to us from those disclosed in Note 2 to the consolidated financial statements in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2022, or the 2022 Form 10-K.

Pending Acquisition

Pending Acquisition	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Pending Acquisition	Pending Acquisition Pending Acquisition of Black Knight, Inc. On May 4, 2022, we announced that we had entered into a definitive agreement to acquire Black Knight, Inc., or Black Knight, a software, data and analytics company that serves the housing finance continuum, including real estate data, mortgage lending and servicing, as well as the secondary markets. Pursuant to that certain Agreement and Plan of Merger, dated as of May 4, 2022, among ICE, Sand Merger Sub Corporation, a wholly owned subsidiary of ICE, or Sub, and Black Knight, which we refer to as the “merger agreement,” Sub will merge with and into Black Knight, which we refer to as the “merger,” with Black Knight surviving as a wholly owned subsidiary of ICE. On March 7, 2023, ICE and Black Knight announced that, in connection with the merger agreement, Black Knight has entered into an agreement to sell its Empower loan origination business. On March 7, 2023, ICE and Black Knight also entered into an amendment to the merger agreement to reduce the value of the aggregate transaction consideration to approximately $11.7 billion as of March 7, 2023, or $75 per share of Black Knight common stock, with cash comprising 90% of the value of the aggregate transaction consideration and shares of our common stock comprising 10% of the value of the aggregate transaction consideration. The aggregate cash component of the transaction consideration is fixed at $10.5 billion, and the value of the aggregate stock component of the transaction consideration will fluctuate with the market price of our common stock and will be determined based on the average of the volume weighted averages of the trading prices of our common stock on each of the ten consecutive trading days ending three trading days prior to the closing of the merger. If consummated, we expect that this transaction will build on our position as a provider of end-to-end electronic workflow solutions for the rapidly evolving U.S. residential mortgage industry. We believe the Black Knight ecosystem adds value for clients of all sizes across the mortgage and real estate lifecycles by helping organizations lower costs, increase efficiencies, grow their businesses, and reduce risk. On March 30, 2023, our amended proxy statement/prospectus on Form S-4 was declared effective by the SEC, and on April 28, 2023, Black Knight stockholders approved the amendment to the merger agreement. On July 17, 2023, we announced that we have agreed to sell Black Knight’s Optimal Blue business to the same purchaser as that of the Empower business for $700 million. The structure of this proposed transaction includes a payment of $200 million in cash, with the remainder financed by a $500 million promissory note issued by the purchaser to Black Knight, as a subsidiary of ICE, at the closing of the transaction. The closing of the proposed Optimal Blue divestiture transaction is subject to the closing of our acquisition of Black Knight, the closing of the acquisition of Black Knight’s Empower loan origination system business, and the satisfaction of other customary closing conditions. The transaction is expected to close in the second half of 2023 following the receipt of regulatory approvals, a favorable resolution of the FTC litigation concerning this transaction, and the satisfaction of customary closing conditions. See Note 13 where additional details of this transaction are discussed.

Investments

Investments	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments Equity Investments Subject to ASU 2016-01 Our equity investments are subject to valuation under Accounting Standards Update, or ASU, 2016-01, Financial Instruments- Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, or ASU 2016-01. See Note 14 for a discussion of our determination of fair value of our financial instruments, which were not material as of June 30, 2023. Investment in Euroclear We previously owned a 9.8% stake in Euroclear, plc, or Euroclear, that we originally purchased for $631 million. We participated on the Euroclear Board of Directors, and we classified our investment in Euroclear as an equity investment. During the three months ended June 30, 2022, we completed the sale of our 9.8% stake in Euroclear. The carrying value of our investment was $700 million at the time of the sale and was classified within other current assets on our balance sheet. We recorded a net gain on the sale of $41 million, which was included in other income, during the three months ended June 30, 2022. Equity Method Investments Our equity method investments include the Options Clearing Corporation, or OCC, and Bakkt Holdings, LLC, or Bakkt, among others. Our equity method investments are included in other non-current assets in the accompanying consolidated balance sheet. We initially record our equity method investments at cost. At the end of each reporting period, we record our share of profits or losses of our equity method investments as equity earnings included in other income, and adjust the carrying value of our equity method investment accordingly. In addition, if and when our equity method investments issue cash dividends to us, we deduct the amount of these dividends from the carrying amount of that investment. We assess the carrying value periodically if impairment indicators are present. We recognized $65 million and $57 million as our share of estimated losses, net, from our equity method investments during the six months ended June 30, 2023 and 2022, respectively, and $30 million and $15 million as our share of losses, net, from our equity method investments during the three months ended June 30, 2023 and 2022, respectively. The estimated losses during both the six months and three months ended June 30, 2023 and 2022 are primarily related to our investment in Bakkt, partially offset by our share of OCC profits. Both periods include adjustments to reflect the difference between reported prior period actual results from our original estimates. When performing our assessment of the carrying value of our investments, we consider, among other things, the length of time and the extent to which the market value has been less than our cost basis, if applicable, the investee's financial condition and near-term prospects, the economic or technological environment in which our investees operate, weakening of the general market condition of the related industry, whether an investee can continue as a going concern, any impairment charges recorded by an investee on goodwill, intangible or long-lived assets, and our intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in market value. Investment in OCC We own a 40% interest in OCC through a direct investment by the New York Stock Exchange, or NYSE. OCC is regulated by the SEC as a registered clearing agency and by the Commodity Futures Trading Commission, or CFTC, as a derivatives clearing organization. OCC serves as a clearing house for securities options, security futures, commodity futures and options on futures traded on various independent exchanges. OCC clears securities options traded on NYSE Arca and NYSE Amex Options, along with other non-affiliated exchanges. Investment in Bakkt As of June 30, 2023, we held an approximate 64% economic interest in Bakkt. As a result of limitations on ICE from the Bakkt voting agreement entered into in connection with Bakkt's merger with VIH, we hold a minority voting interest in Bakkt and treat it as an equity method investment.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2023
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. 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. Deferred revenue represents our contract liabilities related to our annual, original and other listings revenues, certain data services, clearing services, mortgage technology services and other revenues. Deferred revenue is our only significant contract liability. See Note 7 for our discussion of deferred revenue balances, activity, and expected timing of recognition. 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, which are primarily our sales commissions. Refer to Note 5 to the consolidated financial statements included in Part II, Item 8 of our 2022 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: Exchanges Segment Fixed Income and Data Services Segment Mortgage Technology Segment Total Consolidated Six Months Ended June 30, 2023: Total revenues $ 3,214 $ 1,109 $ 485 $ 4,808 Transaction-based expenses 1,024 — — 1,024 Total revenues, less transaction-based expenses $ 2,190 $ 1,109 $ 485 $ 3,784 Timing of Revenue Recognition Services transferred at a point in time $ 1,263 $ 229 $ 148 $ 1,640 Services transferred over time 927 880 337 2,144 Total revenues, less transaction-based expenses $ 2,190 $ 1,109 $ 485 $ 3,784 Exchanges Segment Fixed Income and Data Services Segment Mortgage Technology Segment Total Consolidated Three Months Ended June 30, 2023: Total revenues $ 1,541 $ 546 $ 249 $ 2,336 Transaction-based expenses 448 — — 448 Total revenues, less transaction-based expenses $ 1,093 $ 546 $ 249 $ 1,888 Timing of Revenue Recognition Services transferred at a point in time $ 628 $ 106 $ 81 $ 815 Services transferred over time 465 440 168 1,073 Total revenues, less transaction-based expenses $ 1,093 $ 546 $ 249 $ 1,888 Exchanges Segment Fixed Income and Data Services Segment Mortgage Technology Segment Total Consolidated Six Months Ended June 30, 2022: Total revenues $ 3,247 $ 1,021 $ 604 $ 4,872 Transaction-based expenses 1,159 — — 1,159 Total revenues, less transaction-based expenses $ 2,088 $ 1,021 $ 604 $ 3,713 Timing of Revenue Recognition Services transferred at a point in time $ 1,197 $ 159 $ 270 $ 1,626 Services transferred over time 891 862 334 2,087 Total revenues, less transaction-based expenses $ 2,088 $ 1,021 $ 604 $ 3,713 Exchanges Segment Fixed Income and Data Services Segment Mortgage Technology Segment Total Consolidated Three Months Ended June 30, 2022: Total revenues $ 1,604 $ 512 $ 297 $ 2,413 Transaction-based expenses 599 $ — $ — 599 Total revenues, less transaction-based expenses $ 1,005 $ 512 $ 297 $ 1,814 Timing of Revenue Recognition Services transferred at a point in time $ 563 $ 83 $ 128 $ 774 Services transferred over time 442 429 169 1,040 Total revenues, less transaction-based expenses $ 1,005 $ 512 $ 297 $ 1,814 The Exchanges segment and the Fixed Income and Data Services segment revenues above include data services revenues. Our data services revenues are transferred over time, and a majority of those revenues are performed over a short period of time of one month or less and relate to subscription-based data services billed monthly, quarterly or annually in advance. These revenues are recognized ratably over time as our data delivery performance obligations are met consistently throughout the period. The Exchanges segment revenues transferred over time in the table above also include services related to listings, services related to risk management of open interest performance obligations and services related to regulatory fees, trading permits, and software licenses. The Fixed Income and Data Services segment revenues transferred over time in the table above also include services related to risk management of open interest performance obligations, primarily in our CDS business. The Mortgage Technology segment revenues transferred over time in the table above primarily relate to our origination technology revenue where performance obligations consist of a series of distinct services and are recognized over the contract terms as subscription performance obligations are satisfied, and to a lesser extent, professional services revenues and revenues from certain of our data and analytics offerings. The components of services transferred over time for each of our segments are as follows: Six Months Ended June 30, Three Months Ended June 30, 2023 2022 2023 2022 Exchanges Segment: Data services revenues $ 463 $ 432 $ 231 $ 218 Services transferred over time related to risk management of open interest performance obligations 151 139 $ 75 $ 63 Services transferred over time related to listings 252 260 $ 126 $ 131 Services transferred over time related to regulatory fees, trading permits, and software licenses 61 60 $ 33 $ 30 Total $ 927 $ 891 $ 465 $ 442 Fixed Income Data Services Segment: Data services revenues $ 864 $ 843 $ 434 $ 421 Services transferred over time related to risk management of open interest performance obligations in our CDS business 16 19 $ 6 $ 8 Total $ 880 $ 862 $ 440 $ 429 Mortgage Technology Segment: Subscription revenues $ 329 $ 316 $ 164 $ 160 Professional service revenues and other 8 18 $ 4 $ 9 Total $ 337 $ 334 $ 168 $ 169 Total consolidated revenues transferred over time $ 2,144 $ 2,087 $ 1,073 $ 1,040 Our contract liabilities, or deferred revenue, represent consideration received that is yet to be recognized as revenue. Total deferred revenue was $529 million as of June 30, 2023, including $437 million in current deferred revenue and $92 million in other non-current liabilities. The changes in our deferred revenue during the six months ended June 30, 2023 are as follows (in millions): Listings Revenues Data Services and Other Revenues Mortgage Technology Total Deferred revenue balance at January 1, 2023 $ 115 $ 88 $ 51 $ 254 Additions 474 236 32 742 Amortization (252) (175) (40) (467) Deferred revenue balance at June 30, 2023 $ 337 $ 149 $ 43 $ 529 The changes in our deferred revenue during the six months ended June 30, 2022 are as follows (in millions): Listings Revenues Data Services and Other Revenues Mortgage Technology Total Deferred revenue balance at January 1, 2022 $ 112 $ 93 $ 79 $ 284 Additions 500 283 46 829 Amortization (261) (222) (55) (538) Deferred revenue balance at June 30, 2022 $ 351 $ 154 $ 70 $ 575 Included in the amortization recognized during the six months ended June 30, 2023 is $103 million related to the deferred revenue balance as of January 1, 2023. Included in the amortization recognized for the six months ended June 30, 2022 is $119 million related to the deferred revenue balance as of January 1, 2022. As of June 30, 2023, the remaining deferred revenue balance will be recognized over the period of time we satisfy our performance obligations as described in Note 5.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2023
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 our goodwill balance for the six months ended June 30, 2023 (in millions): Goodwill balance at December 31, 2022 $ 21,111 Foreign currency translation 22 Other activity, net 1 Goodwill balance at June 30, 2023 $ 21,134 The following is a summary of the activity in our other intangible assets balance for the six months ended June 30, 2023 (in millions): Other intangible assets balance at December 31, 2022 $ 13,090 Acquisitions 5 Foreign currency translation 20 Amortization of other intangible assets (301) Other intangible assets balance at June 30, 2023 $ 12,814 Foreign currency translation adjustments result from a portion of our goodwill and other intangible assets being held at our U.K., EU and Canadian subsidiaries, whose functional currencies are not the U.S. dollar. The changes in other activity, net, in the table above primarily relate to adjustments to the fair value of the net tangible and intangible assets made within one year of acquisitions, with a corresponding adjustment to goodwill. During the six months ended June 30, 2023, we considered potential indicators of impairment to goodwill and other intangible assets for each of our reporting units, which included continued global inflation concerns and rising interest rates, including their effect on our forecasts, among other things. As such, we performed this assessment to determine whether it was more-likely-than-not that goodwill and indefinite lived intangibles within each of our reportable business segments were impaired. Additionally, we evaluated whether the carrying value of the finite lived intangible assets within our reportable business segments may not be recoverable. After evaluating events, circumstances and factors which could affect the significant inputs used in our evaluation of cash flows and related fair value, we determined it was not more-likely-than-not that an impairment existed in our goodwill and indefinite lived intangible assets or that the carrying amount of our finite lived intangible assets was not recoverable. We plan to perform our annual impairment testing in the fourth quarter.

Deferred Revenue

Deferred Revenue	6 Months Ended
	Jun. 30, 2023
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. 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. Deferred revenue represents our contract liabilities related to our annual, original and other listings revenues, certain data services, clearing services, mortgage technology services and other revenues. Deferred revenue is our only significant contract liability. See Note 7 for our discussion of deferred revenue balances, activity, and expected timing of recognition. 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, which are primarily our sales commissions. Refer to Note 5 to the consolidated financial statements included in Part II, Item 8 of our 2022 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: Exchanges Segment Fixed Income and Data Services Segment Mortgage Technology Segment Total Consolidated Six Months Ended June 30, 2023: Total revenues $ 3,214 $ 1,109 $ 485 $ 4,808 Transaction-based expenses 1,024 — — 1,024 Total revenues, less transaction-based expenses $ 2,190 $ 1,109 $ 485 $ 3,784 Timing of Revenue Recognition Services transferred at a point in time $ 1,263 $ 229 $ 148 $ 1,640 Services transferred over time 927 880 337 2,144 Total revenues, less transaction-based expenses $ 2,190 $ 1,109 $ 485 $ 3,784 Exchanges Segment Fixed Income and Data Services Segment Mortgage Technology Segment Total Consolidated Three Months Ended June 30, 2023: Total revenues $ 1,541 $ 546 $ 249 $ 2,336 Transaction-based expenses 448 — — 448 Total revenues, less transaction-based expenses $ 1,093 $ 546 $ 249 $ 1,888 Timing of Revenue Recognition Services transferred at a point in time $ 628 $ 106 $ 81 $ 815 Services transferred over time 465 440 168 1,073 Total revenues, less transaction-based expenses $ 1,093 $ 546 $ 249 $ 1,888 Exchanges Segment Fixed Income and Data Services Segment Mortgage Technology Segment Total Consolidated Six Months Ended June 30, 2022: Total revenues $ 3,247 $ 1,021 $ 604 $ 4,872 Transaction-based expenses 1,159 — — 1,159 Total revenues, less transaction-based expenses $ 2,088 $ 1,021 $ 604 $ 3,713 Timing of Revenue Recognition Services transferred at a point in time $ 1,197 $ 159 $ 270 $ 1,626 Services transferred over time 891 862 334 2,087 Total revenues, less transaction-based expenses $ 2,088 $ 1,021 $ 604 $ 3,713 Exchanges Segment Fixed Income and Data Services Segment Mortgage Technology Segment Total Consolidated Three Months Ended June 30, 2022: Total revenues $ 1,604 $ 512 $ 297 $ 2,413 Transaction-based expenses 599 $ — $ — 599 Total revenues, less transaction-based expenses $ 1,005 $ 512 $ 297 $ 1,814 Timing of Revenue Recognition Services transferred at a point in time $ 563 $ 83 $ 128 $ 774 Services transferred over time 442 429 169 1,040 Total revenues, less transaction-based expenses $ 1,005 $ 512 $ 297 $ 1,814 The Exchanges segment and the Fixed Income and Data Services segment revenues above include data services revenues. Our data services revenues are transferred over time, and a majority of those revenues are performed over a short period of time of one month or less and relate to subscription-based data services billed monthly, quarterly or annually in advance. These revenues are recognized ratably over time as our data delivery performance obligations are met consistently throughout the period. The Exchanges segment revenues transferred over time in the table above also include services related to listings, services related to risk management of open interest performance obligations and services related to regulatory fees, trading permits, and software licenses. The Fixed Income and Data Services segment revenues transferred over time in the table above also include services related to risk management of open interest performance obligations, primarily in our CDS business. The Mortgage Technology segment revenues transferred over time in the table above primarily relate to our origination technology revenue where performance obligations consist of a series of distinct services and are recognized over the contract terms as subscription performance obligations are satisfied, and to a lesser extent, professional services revenues and revenues from certain of our data and analytics offerings. The components of services transferred over time for each of our segments are as follows: Six Months Ended June 30, Three Months Ended June 30, 2023 2022 2023 2022 Exchanges Segment: Data services revenues $ 463 $ 432 $ 231 $ 218 Services transferred over time related to risk management of open interest performance obligations 151 139 $ 75 $ 63 Services transferred over time related to listings 252 260 $ 126 $ 131 Services transferred over time related to regulatory fees, trading permits, and software licenses 61 60 $ 33 $ 30 Total $ 927 $ 891 $ 465 $ 442 Fixed Income Data Services Segment: Data services revenues $ 864 $ 843 $ 434 $ 421 Services transferred over time related to risk management of open interest performance obligations in our CDS business 16 19 $ 6 $ 8 Total $ 880 $ 862 $ 440 $ 429 Mortgage Technology Segment: Subscription revenues $ 329 $ 316 $ 164 $ 160 Professional service revenues and other 8 18 $ 4 $ 9 Total $ 337 $ 334 $ 168 $ 169 Total consolidated revenues transferred over time $ 2,144 $ 2,087 $ 1,073 $ 1,040 Our contract liabilities, or deferred revenue, represent consideration received that is yet to be recognized as revenue. Total deferred revenue was $529 million as of June 30, 2023, including $437 million in current deferred revenue and $92 million in other non-current liabilities. The changes in our deferred revenue during the six months ended June 30, 2023 are as follows (in millions): Listings Revenues Data Services and Other Revenues Mortgage Technology Total Deferred revenue balance at January 1, 2023 $ 115 $ 88 $ 51 $ 254 Additions 474 236 32 742 Amortization (252) (175) (40) (467) Deferred revenue balance at June 30, 2023 $ 337 $ 149 $ 43 $ 529 The changes in our deferred revenue during the six months ended June 30, 2022 are as follows (in millions): Listings Revenues Data Services and Other Revenues Mortgage Technology Total Deferred revenue balance at January 1, 2022 $ 112 $ 93 $ 79 $ 284 Additions 500 283 46 829 Amortization (261) (222) (55) (538) Deferred revenue balance at June 30, 2022 $ 351 $ 154 $ 70 $ 575 Included in the amortization recognized during the six months ended June 30, 2023 is $103 million related to the deferred revenue balance as of January 1, 2023. Included in the amortization recognized for the six months ended June 30, 2022 is $119 million related to the deferred revenue balance as of January 1, 2022. As of June 30, 2023, the remaining deferred revenue balance will be recognized over the period of time we satisfy our performance obligations as described in Note 5.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Our total debt, including short-term and long-term debt, consisted of the following (in millions): As of June 30, 2023 As of December 31, 2022 Debt: Short-term debt: Other short-term debt $ — $ 4 Total short-term debt — 4 Long-term debt: 2025 Senior Notes (3.65% senior unsecured notes due May 23, 2025) 1,245 1,243 2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025) 1,248 1,247 2027 Senior Notes (4.00% senior unsecured notes due September 15, 2027) 1,488 1,487 2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027) 498 498 2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028) 595 594 2029 Senior Notes (4.35% senior unsecured notes due June 15, 2029) 1,240 1,240 2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030) 1,237 1,235 2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032) 1,485 1,485 2033 Senior Notes (4.60% senior unsecured notes due March 15, 2033) 1,488 1,488 2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040) 1,232 1,231 2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048) 1,232 1,231 2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050) 1,221 1,221 2052 Senior Notes (4.95% senior unsecured notes due June 15, 2052) 1,465 1,464 2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060) 1,471 1,471 2062 Senior Notes (5.20% senior unsecured notes due June 15, 2062) 983 983 Total long-term debt 18,128 18,118 Total debt $ 18,128 $ 18,122 Our senior notes of $18.1 billion have a weighted average maturity of 16 years and a weighted average cost of 3.6% per annum. Credit Facilities We have a $3.9 billion senior unsecured revolving credit facility, or the Credit Facility, with a maturity date of May 25, 2027, with future capacity to increase our borrowings under the Credit Facility by an additional $1.0 billion, subject to the consent of the lenders funding the increase and certain other conditions. No amounts were outstanding under the Credit Facility as of June 30, 2023. As of June 30, 2023, of the $3.9 billion that was available for borrowing under the Credit Facility, $171 million was required to support certain broker-dealer and other subsidiary commitments. We did not have any amounts outstanding under our U.S. dollar commercial paper program, or the Commercial Paper Program, as of June 30, 2023. Therefore, there was not an amount required to backstop the Commercial Paper Program. The amount required to backstop the amounts outstanding under the Commercial Paper Program will fluctuate as we increase or decrease our commercial paper borrowings. The remaining $3.7 billion was available for working capital and general corporate purposes including, but not limited to, acting as a backstop to future amounts outstanding under the Commercial Paper Program. We have a $2.4 billion two-year senior unsecured delayed draw term loan facility, or the Term Loan, with a maturity date of May 25, 2024. Draws under the Term Loan bear interest on the principal amount outstanding at either (a) Term Secured Overnight Financing Rate, or Term SOFR, plus an applicable margin plus a credit spread adjustment of 10 basis points or (b) a "base rate" plus an applicable margin. The applicable margin ranges from 0.625% to 1.125% for Term SOFR loans and from 0.000% to 0.125% for base rate loans, in each case, based on a ratings-based pricing grid. We expect to use the proceeds from borrowings under the Term Loan to fund a portion of the purchase price for the Black Knight acquisition. We have the option to prepay outstanding amounts under the Term Loan in whole or in part at any time. No amounts were outstanding under the Term Loan as of June 30, 2023. Our India subsidiaries maintain $14 million of credit lines for their general corporate purposes. As of June 30, 2023, there were no amounts outstanding under these credit lines. 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. We did not have any notes outstanding under our Commercial Paper Program as of June 30, 2023.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Share-Based Compensation	Share-Based Compensation We currently sponsor stock option plans, restricted stock plans and our Employee Stock Purchase Plan to our employees and directors. 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 $85 million and $76 million for the six months ended June 30, 2023 and 2022, respectively, and $45 million and $38 million during the three months ended June 30, 2023 and 2022, respectively. Stock Option Plans We use the Black-Scholes option pricing model to value our stock option awards. During the six months ended June 30, 2023 and 2022, we used the assumptions in the table below to compute the value: Six Months Ended June 30, Assumptions: 2023 2022 Risk-free interest rate 3.47% 1.72% Expected life in years 6.1 6.0 Expected volatility 24% 23% Expected dividend yield 1.56% 1.17% Estimated weighted-average fair value of options granted per share $27.39 $28.18 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 align our and our stockholders' interests by linking actual performance to both short and long-term stockholder return. We issue awards that 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. The grant date fair value of time-based restricted stock is recognized as expense ratably over the vesting period, which is typically three In February 2023, 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, 2023, and will also be subject to a market condition reduction based on how our 2023 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 $92 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 $46 million if the target financial performance is met, which would result in 0.4 million shares vesting. For these awards with performance conditions, we recognize expense on an accelerated basis over the three 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.

Equity

Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Equity	Equity Stock Repurchase Program In December 2021, our Board approved an aggregate of $3.15 billion for future repurchases of our common stock with no fixed expiration date that became effective on January 1, 2022. 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. 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 begin or 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, subject to applicable rules. We did not have any share repurchases during the six months or three months ended June 30, 2023. During the six months and three months ended June 30, 2022, we repurchased a total of 5.0 million and 1.3 million shares, respectively, of our outstanding common stock at a cost of $632 million and $157 million, respectively. Our repurchases during the six months ended June 30, 2022 consisted of 4.6 million shares at a cost of $582 million under our Rule 10b5-1 trading plan and 0.4 million shares at a cost of $50 million on the open market during an open trading period. All shares repurchased during the three months ended June 30, 2022 were done under our Rule 10b5-1 trading plan. As of June 30, 2023, the remaining balance of Board approved funds for future repurchases was $2.5 billion. In connection with our pending acquisition of Black Knight, on May 4, 2022 we terminated our Rule 10b5-1 trading plan and suspended share repurchases. Dividends During the six months ended June 30, 2023 and 2022, we declared and paid cash dividends per share of $0.84 and $0.76, respectively, for an aggregate payout of $472 million and $427 million, respectively. During the three months ended June 30, 2023 and 2022, we declared dividends per share of $0.42 and $0.38, respectively for an aggregate payout of $236 million and $213 million, respectively. The declaration of dividends is subject to the discretion of our Board. 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, our financial results and capital requirements and other considerations which our Board deems relevant, 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, 2022 $ (278) $ 2 $ (55) $ (331) Other comprehensive income 47 — — 47 Income tax benefit/(expense) — — — — Net current period other comprehensive income 47 — — 47 Balance, as of June 30, 2023 $ (231) $ 2 $ (55) $ (284) 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 March 31, 2023 $ (262) $ 2 $ (55) $ (315) Other comprehensive income 31 — — 31 Income tax benefit/(expense) — — — — Net current period other comprehensive income 31 — — 31 Balance, as of June 30, 2023 $ (231) $ 2 $ (55) $ (284) 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, 2021 $ (150) $ 2 $ (48) $ (196) Other comprehensive loss (110) — — (110) Income tax benefit/(expense) 1 — — 1 Net current period other comprehensive loss (109) — — (109) Balance, as of June 30, 2022 $ (259) $ 2 $ (48) $ (305) 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 March 31, 2022 $ (175) $ 2 $ (48) $ (221) Other comprehensive loss (85) — — (85) Income tax benefit/(expense) 1 — — 1 Net current period other comprehensive loss (84) — — (84) Balance, as of June 30, 2022 $ (259) $ 2 $ (48) $ (305)

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate was 12% and 22% during the six months ended June 30, 2023 and 2022, respectively, and 4% and 23% during the three months ended June 30, 2023 and 2022, respectively. The effective tax rates for the six months and three months ended June 30, 2023 were lower than the effective tax rates for the comparable periods in 2022 primarily due to the tax benefits resulting from favorable audit settlements for prior years, deferred and current tax benefits from state apportionment changes and the application of the high-tax exception to the Global Intangible Low-Taxed Income, or GILTI, in the current period, partially offset by the impact of the U.K. corporate income tax increase from 19% to 25% effective April 1, 2023. In conjunction with the increase in the U.K. corporate income tax rate, we intend to elect the GILTI high-tax exception election in 2023. During the three months ended June 30, 2023, our tax provision includes the impacts of this election, which resulted in a reduction in our GILTI inclusions. Our unrecognized tax benefit as of June 30, 2023 was $240 million, a $7 million net decrease from the $247 million as of December 31, 2022. The net decrease includes a $40 million reduction as a result of audit settlements, a $20 million increase related to current year positions, a $31 million increase related to prior year positions, and an $18 million reduction related to prior year positions. In August 2022, the Inflation Reduction Act of 2022, or IRA, was signed into law. The IRA introduced a 15% corporation minimum tax, or CAMT, on adjusted financial statement income for corporations with profits in excess of $1 billion, effective for tax years after December 31, 2022. Based on the current guidance provided by the Internal Revenue Service and Treasury, the implementation of the CAMT does not have a material impact to our financial statements as of June 30, 2023. The IRA also includes a share buyback excise tax of 1% on share repurchases, which will apply to net share repurchases after December 31, 2022. During the six months ended June 30, 2023, we did not repurchase any shares, therefore, we were not subject to any excise tax. The newly imposed excise tax on share repurchases is not considered an income tax. Any excise tax, as a result of future share repurchases, will be considered part of the cost of the shares repurchased and reflected in the equity section of our consolidated financial statements.

Clearing Operations

Clearing Operations	6 Months Ended
	Jun. 30, 2023
Broker-Dealer [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, ICE Futures Abu Dhabi and third-party venues U.K. ICE Clear U.S. Agricultural, metals, foreign exchange, or FX, interest rate, equity index and digital asset futures and/or options 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 asset futures contracts ICE Futures Singapore Singapore ICE NGX Physical North American natural gas and electricity ICE NGX Canada In 2022, we announced our decision to cease our CDS clearing service at ICE Clear Europe, our clearing house in the U.K., and thereafter our sole CDS clearing offering will be at our ICE Clear Credit clearing house in the U.S. This is expected to be completed in late 2023. Original and 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.” The ICE Clearing Houses mark all outstanding contracts to market, and, with the exception of ICE NGX’s physical natural gas and physical power products discussed separately below, 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 and default insurance, or collect limited additional funds from their respective non-defaulting Members on a pro-rata basis, to pay any remaining amount owed. As of June 30, 2023 and December 31, 2022, the ICE Clearing Houses had received or had been pledged $194.0 billion and $273.3 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 and 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. Included in the total contribution to ICE Clear U.S., as of June 30, 2023, is $15 million from Bakkt, solely applicable to any losses associated with a default in Bitcoin contracts and other digital assets that ICE Clear U.S. may clear in the future. Such amounts are recorded as long-term restricted cash and cash equivalents or long-term restricted investments in our balance sheets and are as follows (in millions): ICE Portion of Guaranty Fund Contribution Default insurance Clearing House As of June 30, 2023 As of As of June 30, 2023 As of ICE Clear Europe $247 $247 $100 $100 ICE Clear U.S. 90 90 25 25 ICE Clear Credit 50 50 75 75 ICE Clear Netherlands 2 2 N/A N/A ICE Clear Singapore 1 1 N/A N/A ICE NGX 15 15 200 200 Total $405 $405 $400 $400 We also maintain default insurance as an additional layer of clearing member default protection. The default insurance was renewed in September 2022 and has a three-year term for the following clearing houses in the following amounts: ICE Clear Europe - $100 million; ICE Clear U.S. - $25 million; and ICE Clear Credit - $75 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 June 30, 2023, ICE NGX maintained a guaranty fund of $215 million, comprised of $15 million in cash and a $200 million letter of credit backed by a default insurance policy of the same amount, discussed below. Below is a depiction of our Default Waterfall which summarizes the lines of defense and layers of protection we maintain for our mutualized clearing houses. ICE Clearing House Default Waterfall Cash and Invested Margin Deposits We have recorded cash and invested margin and guaranty fund deposits and amounts due in our balance sheets as current assets with corresponding current liabilities to the Members. As of June 30, 2023, our cash and invested margin deposits were as follows (in millions): ICE Clear Europe (1) ICE Clear ICE Clear U.S. ICE NGX Other ICE Clearing Houses Total Original margin $ 45,464 $ 29,056 $ 4,968 $ — $ 5 $ 79,493 Unsettled variation margin, net — — — 693 — 693 Guaranty fund 3,886 3,197 646 — 4 7,733 Delivery contracts receivable/payable, net — — — 410 — 410 Total $ 49,350 $ 32,253 $ 5,614 $ 1,103 $ 9 $ 88,329 As of December 31, 2022, our cash and invested margin deposits were as follows (in millions): ICE Clear Europe (2) ICE Clear ICE Clear U.S. ICE NGX Other ICE Clearing Houses Total Original margin $ 101,243 $ 31,277 $ 4,141 $ — $ 5 $ 136,666 Unsettled variation margin, net — — — 749 — 749 Guaranty fund 4,162 3,177 597 — 4 7,940 Delivery contracts receivable/payable, net — — — 2,017 — 2,017 Total $ 105,405 $ 34,454 $ 4,738 $ 2,766 $ 9 $ 147,372 (1) $44.7 billion and $4.6 billion is related to futures/options and CDS, respectively. (2) $97.6 billion and $7.8 billion is related to futures/options and CDS, respectively. Our cash and invested margin and guaranty fund deposits are maintained in accounts with national banks and highly-rated financial institutions or secured through direct investments, primarily in U.S. Treasury and other highly-rated foreign government securities, or reverse repurchase agreements with primarily overnight maturities. We primarily use Level 1 inputs when evaluating the fair value of the non-cash equivalent direct investments, as highly-rated government securities are quoted in active markets. The carrying value of these deposits is deemed to approximate fair value. 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 June 30, 2023, 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 (U.S. dollar based) to finance U.S. dollar denominated sovereign debt and euro deposits, €250 million in Committed Repo (euro based) to finance euro and U.S. dollar denominated sovereign debt 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 denominated sovereign debt deposits. • ICE Clear Netherlands: €10 million in Committed FX Facilities to finance euro payment obligations. Details of our deposits are as follows (in millions): Cash and Cash Equivalent Margin Deposits and Guaranty Funds Clearing House Investment Type As of June 30, 2023 As of ICE Clear Europe National bank account (1) $ 5,932 $ 17,390 ICE Clear Europe Reverse repo 41,300 65,352 ICE Clear Europe Sovereign debt 1,791 19,894 ICE Clear Europe Demand deposits 16 153 ICE Clear Credit National bank account 24,910 27,145 ICE Clear Credit Reverse repo 4,310 3,916 ICE Clear Credit Demand deposits 3,034 3,393 ICE Clear U.S. Reverse repo 5,465 4,266 ICE Clear U.S. Sovereign Debt 149 472 Other ICE Clearing Houses Demand deposits 10 9 Total cash and cash equivalent margin deposits and guaranty funds $ 86,917 $ 141,990 Invested Deposits, Delivery Contracts Receivable and Unsettled Variation Margin Clearing House Investment Type As of June 30, 2023 As of ICE NGX Unsettled variation margin and delivery contracts receivable/payable 1,103 2,766 ICE Clear Europe Invested deposits - sovereign debt 309 2,616 Total invested deposits, delivery contracts receivable and unsettled variation margin $ 1,412 $ 5,382 (1) As of June 30, 2023, ICE Clear Europe held €58 million ($63 million based on the euro/U.S. dollar exchange rate of 1.0911 as of June 30, 2023) at the European Central Bank, or ECB, £4.6 billion ($5.9 billion based on the pound sterling/U.S. dollar exchange rate of 1.2697 as of June 30, 2023) at the Bank of England, or BOE, and €10 million ($11 million based on the above exchange rate) at the BOE. As of December 31, 2022, ICE Clear Europe held €11.7 billion ($12.5 billion based on the euro/U.S. dollar exchange rate of 1.0704 as of December 31, 2022) at ECB, £4.0 billion ($4.9 billion based on the pound sterling/U.S. dollar exchange rate of 1.2093 as of December 31, 2022) at the BOE and €10 million ($11 million based on the above exchange rate) at the BOE. Other Deposits Non-cash original margin and guaranty fund deposits are not reflected in the accompanying consolidated balance sheets as the risks and rewards of these assets remain with the clearing members unless the clearing houses have sold or re-pledged the assets or in the event of a clearing member default, where the clearing member is no longer entitled to redeem the assets. Any income, gain or loss accrues to the clearing members . In addition to the cash and invested deposits above, the ICE Clearing Houses have also received other assets from Members, which include government obligations, emissions allowances, and may include other non-cash collateral such as letters of credit at ICE NGX 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 June 30, 2023 ICE Clear Europe ICE Clear ICE Clear U.S. ICE NGX Total Original margin: Government securities at face value $ 53,228 $ 31,705 $ 12,920 $ — $ 97,853 Letters of credit and other 237 — — 4,326 4,563 ICE NGX cash deposits — — — 1,349 1,349 Total $ 53,465 $ 31,705 $ 12,920 $ 5,675 $ 103,765 Guaranty fund: Government securities at face value $ 765 $ 846 $ 289 $ — $ 1,900 As of December 31, 2022 ICE Clear Europe ICE Clear ICE Clear U.S. ICE NGX Total Original margin: Government securities at face value $ 74,964 $ 26,601 $ 14,855 $ — $ 116,420 Letters of credit — — — 5,434 5,434 ICE NGX cash deposits — — — 2,357 2,357 Total $ 74,964 $ 26,601 $ 14,855 $ 7,791 $ 124,211 Guaranty fund: Government securities at face value $ 641 $ 805 $ 269 $ — $ 1,715 The ICE Clearing Houses invest cash margin deposits, including both the guaranty fund and original margin deposits on behalf of clearing members, primarily for purposes of safeguarding customer funds. Interest earned on cash margin investments is provided back to clearing members net of certain costs and administrative fees charged and retained by ICE. The ICE Clearing Houses also charge fees for clearing members pledging non-cash margin in lieu of cash margin, these fees are fully retained by ICE. The net interest income on cash margin and fees charged for non-cash margin retained by the ICE Clearing Houses is recorded in our Exchanges segment as OTC and other revenues and in our Fixed Income and Data Services segment as CDS clearing revenues in our consolidated statement of income. We recognized a combined $191 million and $139 million as our revenues during the six months ended June 30, 2023 and 2022, respectively, and $91 million and $81 million as our revenues during the three months ended June 30, 2023 and 2022, respectively. ICE NGX ICE NGX owns a clearing house which primarily administers the physical delivery of energy trading contracts. 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. There is no impact on our consolidated statements of income as an equal amount is recognized as both an asset and a liability. ICE NGX marks all its outstanding physical natural gas and physical power contracts to market daily, but only collects variation margin when a Member's open position falls outside a specified percentage of its pledged collateral. Due to the highly liquid nature and the short period of time to maturity, the fair values of our delivery contract net payable and net receivable are determined to approximate carrying value. 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 for the benefit of the Member, and remains the property of the Member, therefore, it is not included in our balance sheets. ICE NGX maintains a committed daylight-overnight liquidity facility in the amount of $100 million with an additional $200 million uncommitted with a third-party Canadian chartered bank which provides liquidity in the event of a settlement shortfall, subject to certain conditions. As of June 30, 2023, ICE NGX maintains a guaranty fund of $215 million funded by a $200 million 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, plus $15 million held as restricted cash to fund the first loss amount that ICE NGX is responsible for under the default insurance policy. 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 $200 million beyond the $15 million first-loss amount that ICE NGX is responsible for under the default insurance policy. Clearing House Exposure The net notional value of unsettled contracts was $2.4 trillion as of June 30, 2023. 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 and default insurance, the ICE Clearing Houses’ maximum estimated exposure for this guarantee is $161.8 billion as of June 30, 2023, 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 market price volatility could result in the exposure being significantly different than this amount.

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings In 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, other than the potential $725 million termination fee payable to Black Knight and our accruals related to potential regulatory settlements of $11 million, 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 matter described below and those described in Note 16 to the consolidated financial statements in Part II, Item 8 of our 2022 Form 10-K, 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 certain cases cannot be reasonably estimated at this time, except as otherwise disclosed below and in Note 16 to the consolidated financial statements in Part II, Item 8 of our 2022 Form 10-K. Individual matter disclosures in this Form 10-Q are limited to new significant matters or significant updates on existing matters since the 2022 Form 10-K. Black Knight Transaction Litigation On March 9, 2023, the Federal Trade Commission, or the FTC, filed an administrative complaint alleging that the proposed transaction between ICE and Black Knight, if consummated, would be an unfair method of competition in violation of Section 5 of the Federal Trade Commission Act, and that it would substantially lessen competition, or tend to create a monopoly, in violation of Section 7 of the Clayton Act. The complaint seeks a variety of injunctive relief, including, among other things, a prohibition on the completion of the transaction without the FTC’s consent and, if the transaction is completed, a divestiture or reconstitution of assets in a manner that restores such separate and independent businesses as the parties had operated prior to the completion of the transaction. On April 10, 2023, the FTC filed a complaint in the United States District Court for the Northern District of California for a temporary restraining order and preliminary injunction enjoining the completion of the transaction. On April 21, 2023, the court entered a temporary restraining order enjoining the completion of the transaction until the court rules on the FTC’s motion for a preliminary injunction. In their answers to the administrative and court complaints, filed on March 20, 2023 and April 25, 2023, respectively, ICE and Black Knight denied the FTC’s substantive allegations; asserted numerous affirmative defenses; described the pro-competitive aspects and significant lender, servicer, investor, vendor and consumer benefits relating to this transaction; and denied that the combination of their respective businesses would violate any laws. Additionally, the answers to the court complaint contained counterclaims by ICE and Black Knight against the FTC seeking declaratory relief that the FTC’s administrative process is unconstitutional and should be enjoined. On July 17, 2023, the district court entered an order granting a joint motion by the parties to continue the evidentiary hearing on the FTC's motion for a preliminary injunction, and rescheduled the hearing to August 14, 2023. In continuing the hearing, the court noted that the parties are discussing a potential resolution of the matter resulting from the announcement of the planned divestiture of the Optimal Blue business (see Note 3) and the FTC’s analysis of the implications of the divestiture for this case and the administrative complaint. On July 19, 2023, FTC counsel filed an unopposed motion with the FTC to withdraw the administrative complaint from adjudication; on July 25, 2023, the FTC granted this motion. We are vigorously defending against the FTC’s court complaint. For further information on our legal and regulatory matters, please see Note 16 to the consolidated financial statements in Part II, Item 8 of our 2022 Form 10-K.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
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 and equity method 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 June 30, 2023 and December 31, 2022 were classified in their entirety based on the lowest level of input that is significant to the asset or liability’s fair value measurement. Our restricted short-term and long-term investments represent restricted regulatory funds and SITG funds, respectively, at ICE Clear Europe, invested in treasury securities with maturities of greater than 90 days. Our mutual funds are equity and fixed income mutual funds held for the purpose of providing future payments for our 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. 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 June 30, 2023 or December 31, 2022. We measure certain assets, such as intangible assets and equity method investments, at fair value on a non-recurring basis. These assets are recognized at fair value if they are deemed to be impaired. As of December 31, 2022, certain equity method investments were measured at fair value on a non-recurring basis. As of June 30, 2023, none of our intangible assets or equity method investments 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 2016-01 . During the six months ended June 30, 2023, we evaluated these investments and determined that no fair value adjustments were required under our accounting policy election related to these investments. 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 June 30, 2023. The fair values of our fixed rate notes were estimated using quoted market prices for these instruments. The fair value of other short-term debt approximates par value since the interest rates on this short-term debt approximate market rates as of June 30, 2023. As of June 30, 2023 (in millions) Debt: Carrying Amount Fair value 3.65% Senior Notes due May 23, 2025 $ 1,245 $ 1,226 3.75% Senior Notes due December 1, 2025 1,248 1,214 4.00% Senior Notes due September 15, 2027 1,488 1,463 3.10% Senior Notes due September 15, 2027 498 468 3.75% Senior Notes due September 21, 2028 595 571 4.35% Senior Notes due June 15, 2029 1,240 1,225 2.10% Senior Notes due June 15, 2030 1,237 1,046 1.85% Senior Notes due September 15, 2032 1,485 1,157 4.60% Senior Notes due March 15, 2033 1,488 1,455 2.65% Senior Notes due September 15, 2040 1,232 892 4.25% Senior Notes due September 21, 2048 1,232 1,091 3.00% Senior Notes due June 15, 2050 1,221 871 4.95% Senior Notes due June 15, 2052 1,465 1,435 3.00% Senior Notes due September 15, 2060 1,471 985 5.20% Senior Notes due June 15, 2062 983 996 Total debt $ 18,128 $ 16,095

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Our business is conducted through three reportable business segments: • Exchanges: We operate regulated marketplaces for the listing, trading and clearing of a broad array of derivatives contracts and financial securities; • Fixed Income and Data Services: We provide fixed income pricing, reference data, indices, analytics and execution services as well as global CDS clearing and multi-asset class data delivery solutions; and • Mortgage Technology: We provide a technology platform that offers customers comprehensive, digital workflow tools that aim to address the inefficiencies that exist in the U.S. residential mortgage market, from application through closing and the secondary market. While revenues are recorded specifically in the segment in which they are earned or to which they relate, a significant portion of our operating expenses are not solely related to a specific segment because the expenses serve functions that are necessary for the operation of more than one segment. We directly allocate expenses when reasonably possible to do so. Otherwise, we use a pro-rata revenue approach as the allocation method for the expenses that do not relate solely to one segment and serve functions that are necessary for the operation of all segments. 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 three segments do not engage in intersegment transactions. Beginning in the first quarter of 2023, closing solutions revenues within our Mortgage Technology segment now include membership dues that were previously included in other revenues. We believe this is a more accurate reflection of the nature of these revenues. The impact of this change was not material, and the prior year periods have been adjusted for comparability. Financial data for our business segments is as follows for the six months and three months ended June 30, 2023 and 2022 (in millions): Six Months Ended June 30, 2023 Exchanges Fixed Income and Data Services Mortgage Technology Consolidated Revenues: Energy futures and options $ 700 $ — $ — $ 700 Agricultural and metals futures and options 147 — — 147 Financial futures and options 232 — — 232 Cash equities and equity options 1,215 — — 1,215 OTC and other 205 — — 205 Data and connectivity services 463 — — 463 Listings 252 — — 252 Fixed income execution — 60 — 60 CDS clearing — 185 — 185 Fixed income data and analytics — 553 — 553 Other data and network services — 311 — 311 Origination technology — — 337 337 Closing solutions — — 87 87 Data and analytics — — 45 45 Other — — 16 16 Revenues 3,214 1,109 485 4,808 Transaction-based expenses 1,024 — — 1,024 Revenues, less transaction-based expenses 2,190 1,109 485 3,784 Operating expenses 631 699 530 1,860 Operating income/(loss) $ 1,559 $ 410 $ (45) $ 1,924 Three Months Ended June 30, 2023 Exchanges Fixed Income and Data Services Mortgage Technology Consolidated Revenues: Energy futures and options $ 355 $ — $ — $ 355 Agricultural and metals futures and options 77 — — 77 Financial futures and options 104 — — 104 Cash equities and equity options 544 — — 544 OTC and other 104 — — 104 Data and connectivity services 231 — — 231 Listings 126 — — 126 Fixed income execution — 28 — 28 CDS clearing — 84 — 84 Fixed income data and analytics — 277 — 277 Other data and network services — 157 — 157 Origination technology — — 170 170 Closing solutions — — 47 47 Data and analytics — — 24 24 Other — — 8 8 Revenues 1,541 546 249 2,336 Transaction-based expenses 448 — — 448 Revenues, less transaction-based expenses 1,093 546 249 1,888 Operating expenses 311 356 266 933 Operating income/(loss) $ 782 $ 190 $ (17) $ 955 Six Months Ended June 30, 2022 Exchanges Fixed Income and Data Services Mortgage Technology Consolidated Revenues: Energy futures and options $ 618 $ — $ — $ 618 Agricultural and metals futures and options 122 — — 122 Financial futures and options 253 — — 253 Cash equities and equity options 1,357 — — 1,357 OTC and other 205 — — 205 Data and connectivity services 432 — — 432 Listings 260 — — 260 Fixed income execution — 40 — 40 CDS clearing — 138 — 138 Fixed income data and analytics — 551 — 551 Other data and network services — 292 — 292 Origination technology — — 399 399 Closing solutions — — 138 138 Data and analytics — — 44 44 Other — — 23 23 Revenues 3,247 1,021 604 4,872 Transaction-based expenses 1,159 — — 1,159 Revenues, less transaction-based expenses 2,088 1,021 604 3,713 Operating expenses 603 692 557 1,852 Operating income $ 1,485 $ 329 $ 47 $ 1,861 Three Months Ended June 30, 2022 Exchanges Fixed Income and Data Services Mortgage Technology Consolidated Revenues: Energy futures and options $ 265 $ — $ — $ 265 Agricultural and metals futures and options 61 — — 61 Financial futures and options 123 — — 123 Cash equities and equity options 698 — — 698 OTC and other 108 — — 108 Data and connectivity services 218 — — 218 Listings 131 — — 131 Fixed income execution — 25 — 25 CDS clearing — 66 — 66 Fixed income data and analytics — 274 — 274 Other data and network services — 147 — 147 Origination technology — — 196 196 Closing solutions — — 66 66 Data and analytics — — 24 24 Other — — 11 11 Revenues 1,604 512 297 2,413 Transaction-based expenses 599 — — 599 Revenues, less transaction-based expenses 1,005 512 297 1,814 Operating expenses 304 338 303 945 Operating income/(loss) $ 701 $ 174 $ (6) $ 869 Revenue from one member of the Exchanges segment comprised $254 million, or 12%, and $130 million, or 12%, of our Exchange revenues, less transaction-based expenses for the six months and three months ended June 30, 2023, respectively. Revenue from one member of the Exchanges segment comprised $213 million, or 10%, of our Exchange

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2023
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 six months and three months ended June 30, 2023 and 2022 (in millions, except per share amounts): Six Months Ended June 30, Three Months Ended June 30, 2023 2022 2023 2022 Basic: Net income attributable to Intercontinental Exchange, Inc. $ 1,454 $ 1,212 $ 799 $ 555 Weighted average common shares outstanding 560 560 560 558 Basic earnings per common share $ 2.60 $ 2.17 $ 1.43 $ 0.99 Diluted: Weighted average common shares outstanding 560 560 560 558 Effect of dilutive securities - stock options and restricted stock 1 2 1 2 Diluted weighted average common shares outstanding 561 562 561 560 Diluted earnings per common share $ 2.59 $ 2.16 $ 1.42 $ 0.99 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, calculated using the treasury stock method, are included in the diluted per share calculations unless the effect of their inclusion would be antidilutive. During both the six months ended

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsWe have evaluated subsequent events, and determined that no events or transactions, other than those already disclosed in this Quarterly Report, met the definition of a subsequent event for purposes of recognition or disclosure in the accompanying consolidated financial statements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income attributable to Intercontinental Exchange, Inc.	$ 799	$ 555	$ 1,454	$ 1,212

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2023 shares	Jun. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Martha A. Tirinnanzi [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 17, 2023, Martha A. Tirinnanzi, one of our directors, adopted a trading plan for the sale of shares of ICE common stock, which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. The plan expires on the earlier of (i) April 30, 2024 or (ii) upon the completion of the sale of the maximum number of shares under the plan. The aggregate number of shares to be sold under the plan is 992 shares.
Name	Martha A. Tirinnanzi
Title	director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 17, 2023
Arrangement Duration	349 days
Aggregate Available	992	992

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared 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, 2022. 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 six months and three months ended June 30, 2023 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. We have considered the impacts of macroeconomic conditions during the quarter, including interest rates, the inflationary environment, geopolitical events and military conflicts, including repercussions from the conflict in Ukraine, and the impact that any of the foregoing may have on the global economy and on our business. As of June 30, 2023, our businesses and operations, including our exchanges, clearing houses, listings venues, data services businesses and mortgage platforms, have not suffered a material negative impact as a result of these events. There continues to be uncertainty surrounding the current macroeconomic environment and the impact that it may have on the global economy and on our business.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements During the six months ended June 30, 2023, there were no significant changes to the new and recently adopted accounting pronouncements applicable to us from those disclosed in Note 2 to the consolidated financial statements in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2022, or the 2022 Form 10-K.
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. 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. Deferred revenue represents our contract liabilities related to our annual, original and other listings revenues, certain data services, clearing services, mortgage technology services and other revenues. Deferred revenue is our only significant contract liability. See Note 7 for our discussion of deferred revenue balances, activity, and expected timing of recognition. 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, which are primarily our sales commissions. Refer to Note 5 to the consolidated financial statements included in Part II, Item 8 of our 2022 Form 10-K where our primary revenue contract classifications are described in detail.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Revenue Recognition	The following table depicts the disaggregation of our revenue according to business line and segment (in millions). Amounts here have been aggregated as they follow consistent revenue recognition patterns, and are consistent with the segment information in Note 15: Exchanges Segment Fixed Income and Data Services Segment Mortgage Technology Segment Total Consolidated Six Months Ended June 30, 2023: Total revenues $ 3,214 $ 1,109 $ 485 $ 4,808 Transaction-based expenses 1,024 — — 1,024 Total revenues, less transaction-based expenses $ 2,190 $ 1,109 $ 485 $ 3,784 Timing of Revenue Recognition Services transferred at a point in time $ 1,263 $ 229 $ 148 $ 1,640 Services transferred over time 927 880 337 2,144 Total revenues, less transaction-based expenses $ 2,190 $ 1,109 $ 485 $ 3,784 Exchanges Segment Fixed Income and Data Services Segment Mortgage Technology Segment Total Consolidated Three Months Ended June 30, 2023: Total revenues $ 1,541 $ 546 $ 249 $ 2,336 Transaction-based expenses 448 — — 448 Total revenues, less transaction-based expenses $ 1,093 $ 546 $ 249 $ 1,888 Timing of Revenue Recognition Services transferred at a point in time $ 628 $ 106 $ 81 $ 815 Services transferred over time 465 440 168 1,073 Total revenues, less transaction-based expenses $ 1,093 $ 546 $ 249 $ 1,888 Exchanges Segment Fixed Income and Data Services Segment Mortgage Technology Segment Total Consolidated Six Months Ended June 30, 2022: Total revenues $ 3,247 $ 1,021 $ 604 $ 4,872 Transaction-based expenses 1,159 — — 1,159 Total revenues, less transaction-based expenses $ 2,088 $ 1,021 $ 604 $ 3,713 Timing of Revenue Recognition Services transferred at a point in time $ 1,197 $ 159 $ 270 $ 1,626 Services transferred over time 891 862 334 2,087 Total revenues, less transaction-based expenses $ 2,088 $ 1,021 $ 604 $ 3,713 Exchanges Segment Fixed Income and Data Services Segment Mortgage Technology Segment Total Consolidated Three Months Ended June 30, 2022: Total revenues $ 1,604 $ 512 $ 297 $ 2,413 Transaction-based expenses 599 $ — $ — 599 Total revenues, less transaction-based expenses $ 1,005 $ 512 $ 297 $ 1,814 Timing of Revenue Recognition Services transferred at a point in time $ 563 $ 83 $ 128 $ 774 Services transferred over time 442 429 169 1,040 Total revenues, less transaction-based expenses $ 1,005 $ 512 $ 297 $ 1,814 The components of services transferred over time for each of our segments are as follows: Six Months Ended June 30, Three Months Ended June 30, 2023 2022 2023 2022 Exchanges Segment: Data services revenues $ 463 $ 432 $ 231 $ 218 Services transferred over time related to risk management of open interest performance obligations 151 139 $ 75 $ 63 Services transferred over time related to listings 252 260 $ 126 $ 131 Services transferred over time related to regulatory fees, trading permits, and software licenses 61 60 $ 33 $ 30 Total $ 927 $ 891 $ 465 $ 442 Fixed Income Data Services Segment: Data services revenues $ 864 $ 843 $ 434 $ 421 Services transferred over time related to risk management of open interest performance obligations in our CDS business 16 19 $ 6 $ 8 Total $ 880 $ 862 $ 440 $ 429 Mortgage Technology Segment: Subscription revenues $ 329 $ 316 $ 164 $ 160 Professional service revenues and other 8 18 $ 4 $ 9 Total $ 337 $ 334 $ 168 $ 169 Total consolidated revenues transferred over time $ 2,144 $ 2,087 $ 1,073 $ 1,040

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedules of Intangible Assets and Goodwill	The following is a summary of the activity in our goodwill balance for the six months ended June 30, 2023 (in millions): Goodwill balance at December 31, 2022 $ 21,111 Foreign currency translation 22 Other activity, net 1 Goodwill balance at June 30, 2023 $ 21,134 The following is a summary of the activity in our other intangible assets balance for the six months ended June 30, 2023 (in millions): Other intangible assets balance at December 31, 2022 $ 13,090 Acquisitions 5 Foreign currency translation 20 Amortization of other intangible assets (301) Other intangible assets balance at June 30, 2023 $ 12,814

Deferred Revenue (Tables)

Deferred Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Changes in Deferred Revenue	The changes in our deferred revenue during the six months ended June 30, 2023 are as follows (in millions): Listings Revenues Data Services and Other Revenues Mortgage Technology Total Deferred revenue balance at January 1, 2023 $ 115 $ 88 $ 51 $ 254 Additions 474 236 32 742 Amortization (252) (175) (40) (467) Deferred revenue balance at June 30, 2023 $ 337 $ 149 $ 43 $ 529 The changes in our deferred revenue during the six months ended June 30, 2022 are as follows (in millions): Listings Revenues Data Services and Other Revenues Mortgage Technology Total Deferred revenue balance at January 1, 2022 $ 112 $ 93 $ 79 $ 284 Additions 500 283 46 829 Amortization (261) (222) (55) (538) Deferred revenue balance at June 30, 2022 $ 351 $ 154 $ 70 $ 575

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Total Debt	Our total debt, including short-term and long-term debt, consisted of the following (in millions): As of June 30, 2023 As of December 31, 2022 Debt: Short-term debt: Other short-term debt $ — $ 4 Total short-term debt — 4 Long-term debt: 2025 Senior Notes (3.65% senior unsecured notes due May 23, 2025) 1,245 1,243 2025 Senior Notes (3.75% senior unsecured notes due December 1, 2025) 1,248 1,247 2027 Senior Notes (4.00% senior unsecured notes due September 15, 2027) 1,488 1,487 2027 Senior Notes (3.10% senior unsecured notes due September 15, 2027) 498 498 2028 Senior Notes (3.75% senior unsecured notes due September 21, 2028) 595 594 2029 Senior Notes (4.35% senior unsecured notes due June 15, 2029) 1,240 1,240 2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030) 1,237 1,235 2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032) 1,485 1,485 2033 Senior Notes (4.60% senior unsecured notes due March 15, 2033) 1,488 1,488 2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040) 1,232 1,231 2048 Senior Notes (4.25% senior unsecured notes due September 21, 2048) 1,232 1,231 2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050) 1,221 1,221 2052 Senior Notes (4.95% senior unsecured notes due June 15, 2052) 1,465 1,464 2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060) 1,471 1,471 2062 Senior Notes (5.20% senior unsecured notes due June 15, 2062) 983 983 Total long-term debt 18,128 18,118 Total debt $ 18,128 $ 18,122

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Stock Options Valuation Assumptions	During the six months ended June 30, 2023 and 2022, we used the assumptions in the table below to compute the value: Six Months Ended June 30, Assumptions: 2023 2022 Risk-free interest rate 3.47% 1.72% Expected life in years 6.1 6.0 Expected volatility 24% 23% Expected dividend yield 1.56% 1.17% Estimated weighted-average fair value of options granted per share $27.39 $28.18

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2022 $ (278) $ 2 $ (55) $ (331) Other comprehensive income 47 — — 47 Income tax benefit/(expense) — — — — Net current period other comprehensive income 47 — — 47 Balance, as of June 30, 2023 $ (231) $ 2 $ (55) $ (284) 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 March 31, 2023 $ (262) $ 2 $ (55) $ (315) Other comprehensive income 31 — — 31 Income tax benefit/(expense) — — — — Net current period other comprehensive income 31 — — 31 Balance, as of June 30, 2023 $ (231) $ 2 $ (55) $ (284) 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, 2021 $ (150) $ 2 $ (48) $ (196) Other comprehensive loss (110) — — (110) Income tax benefit/(expense) 1 — — 1 Net current period other comprehensive loss (109) — — (109) Balance, as of June 30, 2022 $ (259) $ 2 $ (48) $ (305) 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 March 31, 2022 $ (175) $ 2 $ (48) $ (221) Other comprehensive loss (85) — — (85) Income tax benefit/(expense) 1 — — 1 Net current period other comprehensive loss (84) — — (84) Balance, as of June 30, 2022 $ (259) $ 2 $ (48) $ (305)

Clearing Operations (Tables)

Clearing Operations (Tables)	6 Months Ended
	Jun. 30, 2023
Broker-Dealer [Abstract]
Schedule of Guaranty Fund Contribution	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, ICE Futures Abu Dhabi and third-party venues U.K. ICE Clear U.S. Agricultural, metals, foreign exchange, or FX, interest rate, equity index and digital asset futures and/or options 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 asset futures contracts ICE Futures Singapore Singapore ICE NGX Physical North American natural gas and electricity ICE NGX Canada
Schedule of Guaranty Fund Contribution and Default Insurance	Such amounts are recorded as long-term restricted cash and cash equivalents or long-term restricted investments in our balance sheets and are as follows (in millions): ICE Portion of Guaranty Fund Contribution Default insurance Clearing House As of June 30, 2023 As of As of June 30, 2023 As of ICE Clear Europe $247 $247 $100 $100 ICE Clear U.S. 90 90 25 25 ICE Clear Credit 50 50 75 75 ICE Clear Netherlands 2 2 N/A N/A ICE Clear Singapore 1 1 N/A N/A ICE NGX 15 15 200 200 Total $405 $405 $400 $400
Schedule of Margin Deposits and Guaranty Funds Assets	As of June 30, 2023, our cash and invested margin deposits were as follows (in millions): ICE Clear Europe (1) ICE Clear ICE Clear U.S. ICE NGX Other ICE Clearing Houses Total Original margin $ 45,464 $ 29,056 $ 4,968 $ — $ 5 $ 79,493 Unsettled variation margin, net — — — 693 — 693 Guaranty fund 3,886 3,197 646 — 4 7,733 Delivery contracts receivable/payable, net — — — 410 — 410 Total $ 49,350 $ 32,253 $ 5,614 $ 1,103 $ 9 $ 88,329 As of December 31, 2022, our cash and invested margin deposits were as follows (in millions): ICE Clear Europe (2) ICE Clear ICE Clear U.S. ICE NGX Other ICE Clearing Houses Total Original margin $ 101,243 $ 31,277 $ 4,141 $ — $ 5 $ 136,666 Unsettled variation margin, net — — — 749 — 749 Guaranty fund 4,162 3,177 597 — 4 7,940 Delivery contracts receivable/payable, net — — — 2,017 — 2,017 Total $ 105,405 $ 34,454 $ 4,738 $ 2,766 $ 9 $ 147,372 (1) $44.7 billion and $4.6 billion is related to futures/options and CDS, respectively.
Schedule of Cash and Cash Equivalents	Details of our deposits are as follows (in millions): Cash and Cash Equivalent Margin Deposits and Guaranty Funds Clearing House Investment Type As of June 30, 2023 As of ICE Clear Europe National bank account (1) $ 5,932 $ 17,390 ICE Clear Europe Reverse repo 41,300 65,352 ICE Clear Europe Sovereign debt 1,791 19,894 ICE Clear Europe Demand deposits 16 153 ICE Clear Credit National bank account 24,910 27,145 ICE Clear Credit Reverse repo 4,310 3,916 ICE Clear Credit Demand deposits 3,034 3,393 ICE Clear U.S. Reverse repo 5,465 4,266 ICE Clear U.S. Sovereign Debt 149 472 Other ICE Clearing Houses Demand deposits 10 9 Total cash and cash equivalent margin deposits and guaranty funds $ 86,917 $ 141,990 Invested Deposits, Delivery Contracts Receivable and Unsettled Variation Margin Clearing House Investment Type As of June 30, 2023 As of ICE NGX Unsettled variation margin and delivery contracts receivable/payable 1,103 2,766 ICE Clear Europe Invested deposits - sovereign debt 309 2,616 Total invested deposits, delivery contracts receivable and unsettled variation margin $ 1,412 $ 5,382 (1) As of June 30, 2023, ICE Clear Europe held €58 million ($63 million based on the euro/U.S. dollar exchange rate of 1.0911 as of June 30, 2023) at the European Central Bank, or ECB, £4.6 billion ($5.9 billion based on the pound sterling/U.S. dollar exchange rate of 1.2697 as of June 30, 2023) at the Bank of England, or BOE, and €10 million ($11 million based on the above exchange rate) at the BOE. As of December 31, 2022, ICE Clear Europe held €11.7 billion ($12.5 billion based on the euro/U.S. dollar exchange rate of 1.0704 as of December 31, 2022) at ECB, £4.0 billion ($4.9 billion based on the pound sterling/U.S. dollar exchange rate of 1.2093 as of December 31, 2022) at the BOE and €10 million ($11 million based on the above exchange rate) at the BOE.
Schedule of Assets Pledged by Clearing Members as Original Margin and Guaranty Fund Deposits	These pledged assets are not reflected in our balance sheets, and are as follows (in millions): As of June 30, 2023 ICE Clear Europe ICE Clear ICE Clear U.S. ICE NGX Total Original margin: Government securities at face value $ 53,228 $ 31,705 $ 12,920 $ — $ 97,853 Letters of credit and other 237 — — 4,326 4,563 ICE NGX cash deposits — — — 1,349 1,349 Total $ 53,465 $ 31,705 $ 12,920 $ 5,675 $ 103,765 Guaranty fund: Government securities at face value $ 765 $ 846 $ 289 $ — $ 1,900 As of December 31, 2022 ICE Clear Europe ICE Clear ICE Clear U.S. ICE NGX Total Original margin: Government securities at face value $ 74,964 $ 26,601 $ 14,855 $ — $ 116,420 Letters of credit — — — 5,434 5,434 ICE NGX cash deposits — — — 2,357 2,357 Total $ 74,964 $ 26,601 $ 14,855 $ 7,791 $ 124,211 Guaranty fund: Government securities at face value $ 641 $ 805 $ 269 $ — $ 1,715

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The fair values of our fixed rate notes were estimated using quoted market prices for these instruments. The fair value of other short-term debt approximates par value since the interest rates on this short-term debt approximate market rates as of June 30, 2023. As of June 30, 2023 (in millions) Debt: Carrying Amount Fair value 3.65% Senior Notes due May 23, 2025 $ 1,245 $ 1,226 3.75% Senior Notes due December 1, 2025 1,248 1,214 4.00% Senior Notes due September 15, 2027 1,488 1,463 3.10% Senior Notes due September 15, 2027 498 468 3.75% Senior Notes due September 21, 2028 595 571 4.35% Senior Notes due June 15, 2029 1,240 1,225 2.10% Senior Notes due June 15, 2030 1,237 1,046 1.85% Senior Notes due September 15, 2032 1,485 1,157 4.60% Senior Notes due March 15, 2033 1,488 1,455 2.65% Senior Notes due September 15, 2040 1,232 892 4.25% Senior Notes due September 21, 2048 1,232 1,091 3.00% Senior Notes due June 15, 2050 1,221 871 4.95% Senior Notes due June 15, 2052 1,465 1,435 3.00% Senior Notes due September 15, 2060 1,471 985 5.20% Senior Notes due June 15, 2062 983 996 Total debt $ 18,128 $ 16,095

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial data for our business segments is as follows for the six months and three months ended June 30, 2023 and 2022 (in millions): Six Months Ended June 30, 2023 Exchanges Fixed Income and Data Services Mortgage Technology Consolidated Revenues: Energy futures and options $ 700 $ — $ — $ 700 Agricultural and metals futures and options 147 — — 147 Financial futures and options 232 — — 232 Cash equities and equity options 1,215 — — 1,215 OTC and other 205 — — 205 Data and connectivity services 463 — — 463 Listings 252 — — 252 Fixed income execution — 60 — 60 CDS clearing — 185 — 185 Fixed income data and analytics — 553 — 553 Other data and network services — 311 — 311 Origination technology — — 337 337 Closing solutions — — 87 87 Data and analytics — — 45 45 Other — — 16 16 Revenues 3,214 1,109 485 4,808 Transaction-based expenses 1,024 — — 1,024 Revenues, less transaction-based expenses 2,190 1,109 485 3,784 Operating expenses 631 699 530 1,860 Operating income/(loss) $ 1,559 $ 410 $ (45) $ 1,924 Three Months Ended June 30, 2023 Exchanges Fixed Income and Data Services Mortgage Technology Consolidated Revenues: Energy futures and options $ 355 $ — $ — $ 355 Agricultural and metals futures and options 77 — — 77 Financial futures and options 104 — — 104 Cash equities and equity options 544 — — 544 OTC and other 104 — — 104 Data and connectivity services 231 — — 231 Listings 126 — — 126 Fixed income execution — 28 — 28 CDS clearing — 84 — 84 Fixed income data and analytics — 277 — 277 Other data and network services — 157 — 157 Origination technology — — 170 170 Closing solutions — — 47 47 Data and analytics — — 24 24 Other — — 8 8 Revenues 1,541 546 249 2,336 Transaction-based expenses 448 — — 448 Revenues, less transaction-based expenses 1,093 546 249 1,888 Operating expenses 311 356 266 933 Operating income/(loss) $ 782 $ 190 $ (17) $ 955 Six Months Ended June 30, 2022 Exchanges Fixed Income and Data Services Mortgage Technology Consolidated Revenues: Energy futures and options $ 618 $ — $ — $ 618 Agricultural and metals futures and options 122 — — 122 Financial futures and options 253 — — 253 Cash equities and equity options 1,357 — — 1,357 OTC and other 205 — — 205 Data and connectivity services 432 — — 432 Listings 260 — — 260 Fixed income execution — 40 — 40 CDS clearing — 138 — 138 Fixed income data and analytics — 551 — 551 Other data and network services — 292 — 292 Origination technology — — 399 399 Closing solutions — — 138 138 Data and analytics — — 44 44 Other — — 23 23 Revenues 3,247 1,021 604 4,872 Transaction-based expenses 1,159 — — 1,159 Revenues, less transaction-based expenses 2,088 1,021 604 3,713 Operating expenses 603 692 557 1,852 Operating income $ 1,485 $ 329 $ 47 $ 1,861 Three Months Ended June 30, 2022 Exchanges Fixed Income and Data Services Mortgage Technology Consolidated Revenues: Energy futures and options $ 265 $ — $ — $ 265 Agricultural and metals futures and options 61 — — 61 Financial futures and options 123 — — 123 Cash equities and equity options 698 — — 698 OTC and other 108 — — 108 Data and connectivity services 218 — — 218 Listings 131 — — 131 Fixed income execution — 25 — 25 CDS clearing — 66 — 66 Fixed income data and analytics — 274 — 274 Other data and network services — 147 — 147 Origination technology — — 196 196 Closing solutions — — 66 66 Data and analytics — — 24 24 Other — — 11 11 Revenues 1,604 512 297 2,413 Transaction-based expenses 599 — — 599 Revenues, less transaction-based expenses 1,005 512 297 1,814 Operating expenses 304 338 303 945 Operating income/(loss) $ 701 $ 174 $ (6) $ 869

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Reconciliation of the Numerators and Denominators of the Basic and Diluted 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 six months and three months ended June 30, 2023 and 2022 (in millions, except per share amounts): Six Months Ended June 30, Three Months Ended June 30, 2023 2022 2023 2022 Basic: Net income attributable to Intercontinental Exchange, Inc. $ 1,454 $ 1,212 $ 799 $ 555 Weighted average common shares outstanding 560 560 560 558 Basic earnings per common share $ 2.60 $ 2.17 $ 1.43 $ 0.99 Diluted: Weighted average common shares outstanding 560 560 560 558 Effect of dilutive securities - stock options and restricted stock 1 2 1 2 Diluted weighted average common shares outstanding 561 562 561 560 Diluted earnings per common share $ 2.59 $ 2.16 $ 1.42 $ 0.99

Description of Business (Detail

Description of Business (Details)	6 Months Ended
	Jun. 30, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Pending Acquisition (Details)

Pending Acquisition (Details) $ / shares in Units, $ in Millions	Jul. 17, 2023 USD ($)	Mar. 07, 2023 USD ($) d $ / shares
Optimal Blue | Subsequent Event | Black Knight, Inc.
Business Acquisition [Line Items]
Disposal group, including discontinued operation, consideration	$ 700
Proceeds from divestiture of businesses	200
Note receivable	$ 500
Black Knight, Inc.
Business Acquisition [Line Items]
Total purchase price		$ 11,700
Common stock, share price (in dollars per share) | $ / shares		$ 75
Percentage of consideration in cash		90%
Percentage of consideration in stock		10%
Payments to acquire businesses, gross		$ 10,500
Business Combination, Common Stock, Consecutive Trading Days | d		10
Business Combination, Common Stock, Trading Days Prior To Closing | d		3

Investments (Details)

Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Equity Method Investments [Line Items]
Gain on sale of coinbase investment			$ 0	$ 41
Euroclear
Schedule of Equity Method Investments [Line Items]
Ownership percentage		9.80%		9.80%
Aggregate cost		$ 631		$ 631
Carrying value of investments		700		700
Gain on sale of coinbase investment		41
Options Clearing Corporation
Schedule of Equity Method Investments [Line Items]
Ownership percentage	40%		40%
Gains(losses) from equity method investments	$ 30	$ 15	$ 65	$ 57
Bakkt
Schedule of Equity Method Investments [Line Items]
Ownership percentage	64%		64%

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 2,336	$ 2,413	$ 4,808	$ 4,872
Transaction-based expenses	448	599	1,024	1,159
Total revenues, less transaction-based expenses	1,888	1,814	3,784	3,713
Data services revenues
Disaggregation of Revenue [Line Items]
Total revenues	231	218	463	432
Exchanges Segment
Disaggregation of Revenue [Line Items]
Total revenues	1,541	1,604	3,214	3,247
Transaction-based expenses	448	599	1,024	1,159
Total revenues, less transaction-based expenses	1,093	1,005	2,190	2,088
Exchanges Segment | Data services revenues
Disaggregation of Revenue [Line Items]
Total revenues	231	218	463	432
Fixed Income and Data Services Segment
Disaggregation of Revenue [Line Items]
Total revenues	546	512	1,109	1,021
Transaction-based expenses	0	0	0	0
Total revenues, less transaction-based expenses	546	512	1,109	1,021
Fixed Income and Data Services Segment | Data services revenues
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Mortgage Technology Segment
Disaggregation of Revenue [Line Items]
Total revenues	249	297	485	604
Transaction-based expenses	0	0	0	0
Total revenues, less transaction-based expenses	249	297	485	604
Mortgage Technology Segment | Data services revenues
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	815	774	1,640	1,626
Services transferred at a point in time | Exchanges Segment
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	628	563	1,263	1,197
Services transferred at a point in time | Fixed Income and Data Services Segment
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	106	83	229	159
Services transferred at a point in time | Mortgage Technology Segment
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	81	128	148	270
Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	1,073	1,040	2,144	2,087
Services transferred over time | Exchanges Segment
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	465	442	927	891
Services transferred over time | Exchanges Segment | Data services revenues
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	231	218	463	432
Services transferred over time | Exchanges Segment | Services transferred over time related to risk management of open interest performance obligations
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	75	63	151	139
Services transferred over time | Exchanges Segment | Services transferred over time related to listings
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	126	131	252	260
Services transferred over time | Exchanges Segment | Services transferred over time related to regulatory fees, trading permits, and software licenses
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	33	30	61	60
Services transferred over time | Fixed Income and Data Services Segment
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	440	429	880	862
Services transferred over time | Fixed Income and Data Services Segment | Data services revenues
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	434	421	864	843
Services transferred over time | Fixed Income and Data Services Segment | Services transferred over time related to risk management of open interest performance obligations
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	6	8	16	19
Services transferred over time | Mortgage Technology Segment
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	168	169	337	334
Services transferred over time | Mortgage Technology Segment | Subscription revenues
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	164	160	329	316
Services transferred over time | Mortgage Technology Segment | Professional service revenues and other
Disaggregation of Revenue [Line Items]
Total revenues, less transaction-based expenses	$ 4	$ 9	$ 8	$ 18

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details)	Jun. 30, 2023
Fixed Income and Data Services Segment | Services transferred over time | Services transferred over time related to risk management of open interest performance obligations | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Disaggregation of Revenue [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	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 21,111
Foreign currency translation	22
Other activity, net	1
Goodwill, ending balance	$ 21,134

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Other Intangible Rollforward (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Finite-lived Intangible Assets [Roll Forward]
Other intangible assets, beginning balance	$ 13,090
Acquisitions	5
Foreign currency translation	20
Amortization of other intangible assets	(301)
Other intangible assets, ending balance	$ 12,814

Deferred Revenue - Narrative (D

Deferred Revenue - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Total deferred revenue	$ 529	$ 575	$ 254	$ 284
Deferred revenue, current	437		$ 170
Deferred revenue, noncurrent	92
Revenue recognized	$ 103	$ 119

Deferred Revenue - Schedule of

Deferred Revenue - Schedule of Rollforward (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Disaggregation Of Revenue [Roll Forward]
Beginning balance	$ 254	$ 284
Additions	742	829
Amortization	(467)	(538)
Ending balance	529	575
Listings Revenues
Disaggregation Of Revenue [Roll Forward]
Beginning balance	115	112
Additions	474	500
Amortization	(252)	(261)
Ending balance	337	351
Data Services and Other Revenues
Disaggregation Of Revenue [Roll Forward]
Beginning balance	88	93
Additions	236	283
Amortization	(175)	(222)
Ending balance	149	154
Mortgage technology
Disaggregation Of Revenue [Roll Forward]
Beginning balance	51	79
Additions	32	46
Amortization	(40)	(55)
Ending balance	$ 43	$ 70

Debt - Schedule of Total Debt (

Debt - Schedule of Total Debt (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Short-term debt:
Other short-term debt	$ 0	$ 4
Total short-term debt	0	4
Long-term debt:
Total long-term debt	18,128	18,118
Total debt	$ 18,128	18,122
Senior Notes | 2025 Senior Notes (3.65% senior unsecured notes due May 23, 2025)
Debt Instrument [Line Items]
Interest rate, stated percentage	3.65%
Long-term debt:
Senior notes	$ 1,245	1,243
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	$ 1,248	1,247
Senior Notes | 2027 Senior Notes (4.00% senior unsecured notes due September 15, 2027)
Debt Instrument [Line Items]
Interest rate, stated percentage	4%
Long-term debt:
Senior notes	$ 1,488	1,487
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	$ 498	498
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	$ 595	594
Senior Notes | 2029 Senior Notes (4.35% senior unsecured notes due June 15, 2029)
Debt Instrument [Line Items]
Interest rate, stated percentage	4.35%
Long-term debt:
Senior notes	$ 1,240	1,240
Senior Notes | 2030 Senior Notes (2.10% senior unsecured notes due June 15, 2030)
Debt Instrument [Line Items]
Interest rate, stated percentage	2.10%
Long-term debt:
Senior notes	$ 1,237	1,235
Senior Notes | 2032 Senior Notes (1.85% senior unsecured notes due September 15, 2032)
Debt Instrument [Line Items]
Interest rate, stated percentage	1.85%
Long-term debt:
Senior notes	$ 1,485	1,485
Senior Notes | 2033 Senior Notes (4.60% senior unsecured notes due March 15, 2033)
Debt Instrument [Line Items]
Interest rate, stated percentage	4.60%
Long-term debt:
Senior notes	$ 1,488	1,488
Senior Notes | 2040 Senior Notes (2.65% senior unsecured notes due September 15, 2040)
Debt Instrument [Line Items]
Interest rate, stated percentage	2.65%
Long-term debt:
Senior notes	$ 1,232	1,231
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	$ 1,232	1,231
Senior Notes | 2050 Senior Notes (3.00% senior unsecured notes due June 15, 2050)
Debt Instrument [Line Items]
Interest rate, stated percentage	3%
Long-term debt:
Senior notes	$ 1,221	1,221
Senior Notes | 2052 Senior Notes (4.95% senior unsecured notes due June 15, 2052)
Debt Instrument [Line Items]
Interest rate, stated percentage	4.95%
Long-term debt:
Senior notes	$ 1,465	1,464
Senior Notes | 2060 Senior Notes (3.00% senior unsecured notes due September 15, 2060)
Debt Instrument [Line Items]
Interest rate, stated percentage	3%
Long-term debt:
Senior notes	$ 1,471	1,471
Senior Notes | 2062 Senior Notes (5.20% senior unsecured notes due June 15, 2062)
Debt Instrument [Line Items]
Interest rate, stated percentage	5.20%
Long-term debt:
Senior notes	$ 983	$ 983

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)		6 Months Ended
	May 25, 2022	Jun. 30, 2023
India Subsidiaries
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 14,000,000
Amount of debt outstanding		0
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		3,900,000,000
Additional borrowing capacity		1,000,000,000
Amount of debt outstanding		0
Currently available for borrowing		3,900,000,000
Amount required to stop broker-dealer subsidiary commitments		171,000,000
Funds available to use for working capital and general and corporate purposes		3,700,000,000
Senior Notes
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 18,100,000,000
Debt instrument, term		16 years
Weighted average interest rate		3.60%
Line of Credit | Term Loan
Line of Credit Facility [Line Items]
Debt instrument, term	2 years
Maximum borrowing capacity	$ 2,400,000,000
Line of Credit | Term Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.10%
Line of Credit | Term Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.625%
Line of Credit | Term Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	1.125%
Line of Credit | Term Loan | Base Rate | Minimum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0%
Line of Credit | Term Loan | Base Rate | Maximum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.125%
Commercial Paper | Revolving Credit Facility
Line of Credit Facility [Line Items]
Amount of debt outstanding		$ 0

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 28, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Class of Stock [Line Items]
Non-cash expense recognized		$ 45	$ 38	$ 85	$ 76
Performance Based Restricted Stock Units
Class of Stock [Line Items]
Unrecognized compensation expense	$ 46	46		46
Vested stock options (in shares)	0.4
Cost not yet recognized, period for recognition (in years)	3 years
Stock-based compensation		10		14
Amount of non-cash compensation remaining in fiscal period		$ 19		$ 19
Minimum | Employee Stock Option
Class of Stock [Line Items]
Award vesting period				3 years
Maximum | Performance Based Restricted Stock Units
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)	0.9
Unrecognized compensation expense	$ 92
Maximum | Employee Stock Option
Class of Stock [Line Items]
Award vesting period				4 years

Share-Based Compensation - Valu

Share-Based Compensation - Valuation Assumptions (Details) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Equity [Abstract]
Risk-free interest rate	3.47%	1.72%
Expected life in years	6 years 1 month 6 days	6 years
Expected volatility	24%	23%
Expected dividend yield	1.56%	1.17%
Estimated weighted-average fair value of options granted per share (in dollars per share)	$ 27.39	$ 28.18

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jan. 01, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock repurchase program, authorized amount					$ 3,150,000,000
Repurchases of common stock (in shares)	0	1.3	0	5
Repurchases of common stock		$ 157,000,000		$ 632,000,000
Stock repurchase program, remaining authorized amount	$ 2,500,000,000		$ 2,500,000,000
Cash dividends per share (in dollars per share)	$ 0.42	$ 0.38	$ 0.84	$ 0.76
Aggregate payout	$ 236,000,000	$ 213,000,000	$ 472,000,000	$ 427,000,000
Open Market, Trading Period
Accumulated Other Comprehensive Income (Loss) [Line Items]
Repurchases of common stock (in shares)				0.4
Repurchases of common stock				$ 50,000,000
Rule 10b5-1 Trading Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Repurchases of common stock (in shares)				4.6
Repurchases of common stock				$ 582,000,000

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 23,211	$ 22,703	$ 22,761	$ 22,748
Other comprehensive income (loss)	31	(85)		(110)
Income tax benefit/(expense)	0	1		1
Other comprehensive income/(loss)	31	(84)	47	(109)
Ending balance	23,889	22,861	23,889	22,861
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(315)	(221)	(331)	(196)
Other comprehensive income (loss)			47
Income tax benefit/(expense)			0
Other comprehensive income/(loss)	31	(84)	47	(109)
Ending balance	(284)	(305)	(284)	(305)
Foreign currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(262)	(175)	(278)	(150)
Other comprehensive income (loss)	31	(85)	47	(110)
Income tax benefit/(expense)	0	1	0	1
Other comprehensive income/(loss)	31	(84)	47	(109)
Ending balance	(231)	(259)	(231)	(259)
Comprehensive income from equity method investment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	2	2	2	2
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	2	2	2	2
Employee benefit plans adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(55)	(48)	(55)	(48)
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	$ (55)	$ (48)	$ (55)	$ (48)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	4%	23%	12%	22%
Unrecognized tax benefits	$ 240		$ 240		$ 247
Decrease in unrecognized tax benefits			7
Unrecognized tax benefits, decrease from audit settlements			40
Unrecognized tax benefits, increase related to current year positions			20
Unrecognized tax benefits, increase related to prior period positions			31
Unrecognized tax benefits, decrease from prior period positions			$ 18

Clearing Operations - Narrative

Clearing Operations - Narrative (Details) € in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) clearing_house	Jun. 30, 2022 USD ($)	Jun. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Principal Transaction Revenue [Line Items]
Number of clearing houses | clearing_house				6
Margin deposits and guaranty funds assets received or pledged		$ 194,000,000,000		$ 194,000,000,000			$ 273,300,000,000
Default insurance term (in years)	3 years
Default insurance		400,000,000		400,000,000			400,000,000
Cash deposits		86,917,000,000		86,917,000,000			141,990,000,000
Total revenues		2,336,000,000	$ 2,413,000,000	4,808,000,000	$ 4,872,000,000
Net notional value of unsettled contracts		2,400,000,000,000		2,400,000,000,000
Maximum exposure, undiscounted		161,800,000,000		161,800,000,000
Guaranty Fund
Principal Transaction Revenue [Line Items]
Total revenues		91,000,000	$ 81,000,000	191,000,000	$ 139,000,000
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		15,000,000		15,000,000
Default insurance		25,000,000		25,000,000			25,000,000
ICE Clear U.S.
Principal Transaction Revenue [Line Items]
Default insurance		25,000,000		25,000,000
Committed repo		250,000,000		250,000,000
ICE Clear Europe
Principal Transaction Revenue [Line Items]
Default insurance		100,000,000		100,000,000			100,000,000
Committed repo		1,000,000,000		1,000,000,000
ICE Clear Credit
Principal Transaction Revenue [Line Items]
Default insurance		75,000,000		75,000,000			75,000,000
Committed repo		300,000,000		300,000,000		€ 250
Committed FX facilities | €						1,900
ICE NGX
Principal Transaction Revenue [Line Items]
Default insurance		200,000,000		200,000,000			$ 200,000,000
Debt instrument, face amount		215,000,000		215,000,000
Cash deposits		15,000,000		15,000,000
Daylight liquidity		100,000,000		100,000,000
First-loss amount				15,000,000
ICE NGX | Canadian Chartered Bank
Principal Transaction Revenue [Line Items]
Daylight liquidity		200,000,000		200,000,000
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		200,000,000		200,000,000
Additional losses under insurance policy				200,000,000
Letter of Credit | ICE NGX | Canadian Chartered Bank
Principal Transaction Revenue [Line Items]
Debt instrument, face amount		$ 200,000,000		$ 200,000,000

Clearing Operations - Guaranty

Clearing Operations - Guaranty Fund Contributions and Default Insurance (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Clearing Organizations [Line Items]
ICE Portion of Guaranty Fund Contribution	$ 405	$ 405
Default insurance	400	400
ICE Clear Europe
Clearing Organizations [Line Items]
ICE Portion of Guaranty Fund Contribution	247	247
Default insurance	100	100
ICE Clear U.S.
Clearing Organizations [Line Items]
ICE Portion of Guaranty Fund Contribution	90	90
Default insurance	25	25
ICE Clear Credit
Clearing Organizations [Line Items]
ICE Portion of Guaranty Fund Contribution	50	50
Default insurance	75	75
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	$ 200	$ 200

Clearing Operations - Cash and

Clearing Operations - Cash and Invested Deposits (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Clearing Organizations [Line Items]
Original margin	$ 79,493	$ 136,666
Unsettled variation margin, net	693	749
Guaranty fund	7,733	7,940
Delivery contracts receivable/payable, net	410	2,017
Total	88,329	147,372
ICE Clear Europe
Clearing Organizations [Line Items]
Original margin	45,464	101,243
Unsettled variation margin, net	0	0
Guaranty fund	3,886	4,162
Delivery contracts receivable/payable, net	0	0
Total	49,350	105,405
ICE Clear Europe | Futures and options
Clearing Organizations [Line Items]
Total	44,700	97,600
ICE Clear Europe | CDS
Clearing Organizations [Line Items]
Total	4,600	7,800
ICE Clear Credit
Clearing Organizations [Line Items]
Original margin	29,056	31,277
Unsettled variation margin, net	0	0
Guaranty fund	3,197	3,177
Delivery contracts receivable/payable, net	0	0
Total	32,253	34,454
ICE Clear U.S.
Clearing Organizations [Line Items]
Original margin	4,968	4,141
Unsettled variation margin, net	0	0
Guaranty fund	646	597
Delivery contracts receivable/payable, net	0	0
Total	5,614	4,738
ICE NGX
Clearing Organizations [Line Items]
Original margin	0	0
Unsettled variation margin, net	693	749
Guaranty fund	0	0
Delivery contracts receivable/payable, net	410	2,017
Total	1,103	2,766
Other ICE Clearing Houses
Clearing Organizations [Line Items]
Original margin	5	5
Unsettled variation margin, net	0	0
Guaranty fund	4	4
Delivery contracts receivable/payable, net	0	0
Total	$ 9	$ 9

Clearing Operations - Separate

Clearing Operations - Separate Cash Accounts (Details) € in Millions, $ in Millions, £ in Billions	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Jun. 30, 2023 GBP (£)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 GBP (£)
Clearing Organizations [Line Items]
Cash deposits		$ 86,917			$ 141,990
Invested deposits, delivery contracts receivable and unsettled variation margin		1,412			5,382
ICE NGX
Clearing Organizations [Line Items]
Cash deposits		15
Cash Deposit Based On Euro/US Dollar Exchange Rate | De Nederlandsche Bank | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		$ 63	€ 58		12,500	€ 11,700
Exchange rate to USD	1.0704	1.0911
Cash Deposit Based On Euro/US Dollar Exchange Rate | Bank of England | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		$ 11	€ 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		$ 5,900		£ 4.6	4,900		£ 4
Exchange rate to USD	1.2093	1.2697
National bank account | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		$ 5,932			17,390
National bank account | ICE Clear Credit
Clearing Organizations [Line Items]
Cash deposits		24,910			27,145
Reverse repo | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		41,300			65,352
Reverse repo | ICE Clear Credit
Clearing Organizations [Line Items]
Cash deposits		4,310			3,916
Reverse repo | ICE Clear U.S.
Clearing Organizations [Line Items]
Cash deposits		5,465			4,266
Sovereign debt | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		1,791			19,894
Sovereign debt | ICE Clear U.S.
Clearing Organizations [Line Items]
Cash deposits		149			472
Demand deposits | ICE Clear Europe
Clearing Organizations [Line Items]
Cash deposits		16			153
Demand deposits | ICE Clear Credit
Clearing Organizations [Line Items]
Cash deposits		3,034			3,393
Demand deposits | Other ICE Clearing Houses
Clearing Organizations [Line Items]
Cash deposits		10			9
Unsettled Variation Margin and Delivery Contracts Receivable/Payable | ICE NGX
Clearing Organizations [Line Items]
Invested deposits, delivery contracts receivable and unsettled variation margin		1,103			2,766
Invested deposits - sovereign debt | ICE Clear Europe
Clearing Organizations [Line Items]
Invested deposits, delivery contracts receivable and unsettled variation margin		$ 309			$ 2,616

Clearing Operations - Assets Pl

Clearing Operations - Assets Pledged by Clearing Members (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Original Margin
Original margin:
Government securities at face value	$ 97,853	$ 116,420
Letters of credit and other	4,563	5,434
ICE NGX cash deposits	1,349	2,357
Total	103,765	124,211
Guaranty Fund
Guaranty fund:
Government securities at face value	1,900	1,715
ICE Clear Europe | Original Margin
Original margin:
Government securities at face value	53,228	74,964
Letters of credit and other	237	0
ICE NGX cash deposits	0	0
Total	53,465	74,964
ICE Clear Europe | Guaranty Fund
Guaranty fund:
Government securities at face value	765	641
ICE Clear Credit | Original Margin
Original margin:
Government securities at face value	31,705	26,601
Letters of credit and other	0	0
ICE NGX cash deposits	0	0
Total	31,705	26,601
ICE Clear Credit | Guaranty Fund
Guaranty fund:
Government securities at face value	846	805
ICE Clear U.S. | Original Margin
Original margin:
Government securities at face value	12,920	14,855
Letters of credit and other	0	0
ICE NGX cash deposits	0	0
Total	12,920	14,855
ICE Clear U.S. | Guaranty Fund
Guaranty fund:
Government securities at face value	289	269
ICE NGX | Original Margin
Original margin:
Government securities at face value	0	0
Letters of credit and other	4,326	5,434
ICE NGX cash deposits	1,349	2,357
Total	5,675	7,791
ICE NGX | Guaranty Fund
Guaranty fund:
Government securities at face value	$ 0	$ 0

Legal Proceedings (Details)

Legal Proceedings (Details) $ in Millions	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Estimate of possible claims	$ 725
Accrual for potential legal settlements	$ 11

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 18,128	$ 18,122
Fair value	$ 16,095
3.65% Senior Notes due May 23, 2025 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	3.65%
Senior notes	$ 1,245	1,243
Fair value	$ 1,226
3.75% Senior 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%
Senior notes	$ 1,248	1,247
Fair value	$ 1,214
4.00% Senior Notes due September 15, 2027 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	4%
Senior notes	$ 1,488	1,487
Fair value	$ 1,463
3.10% Senior 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%
Senior notes	$ 498	498
Fair value	$ 468
3.75% Senior 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%
Senior notes	$ 595	594
Fair value	$ 571
4.35% Senior Notes due June 15, 2029 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	4.35%
Senior notes	$ 1,240	1,240
Fair value	$ 1,225
2.10% Senior 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%
Senior notes	$ 1,237	1,235
Fair value	$ 1,046
1.85% Senior 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%
Senior notes	$ 1,485	1,485
Fair value	$ 1,157
4.60% Senior Notes due March 15, 2033 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	4.60%
Senior notes	$ 1,488	1,488
Fair value	$ 1,455
2.65% Senior 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%
Senior notes	$ 1,232	1,231
Fair value	$ 892
4.25% Senior 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%
Senior notes	$ 1,232	1,231
Fair value	$ 1,091
3.00% Senior 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%
Senior notes	$ 1,221	1,221
Fair value	$ 871
4.95% Senior Notes due June 15, 2052 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	4.95%
Senior notes	$ 1,465	1,464
Fair value	$ 1,435
3.00% Senior 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%
Senior notes	$ 1,471	1,471
Fair value	$ 985
5.20% Senior Notes due June 15, 2062 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate, stated percentage	5.20%
Senior notes	$ 983	$ 983
Fair value	$ 996

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment member	Jun. 30, 2022 USD ($) member
Segment Reporting Information [Line Items]
Number of reportable segments | segment			3
Total revenues	$ 2,336	$ 2,413	$ 4,808	$ 4,872
Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	1,541	$ 1,604	$ 3,214	$ 3,247
Revenue | Exchanges Segment | Customer Concentration Risk
Segment Reporting Information [Line Items]
Number of members | member			1	1
Total revenues	$ 130		$ 254	$ 213
Concentration risk, percentage	12%		12%	10%

Segment Reporting - Schedule of

Segment Reporting - Schedule of Segment Reporting Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Total revenues	$ 2,336	$ 2,413	$ 4,808	$ 4,872
Transaction-based expenses	448	599	1,024	1,159
Total revenues, less transaction-based expenses	1,888	1,814	3,784	3,713
Operating expenses	933	945	1,860	1,852
Operating income	955	869	1,924	1,861
Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	1,541	1,604	3,214	3,247
Transaction-based expenses	448	599	1,024	1,159
Total revenues, less transaction-based expenses	1,093	1,005	2,190	2,088
Operating expenses	311	304	631	603
Operating income	782	701	1,559	1,485
Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	546	512	1,109	1,021
Transaction-based expenses	0	0	0	0
Total revenues, less transaction-based expenses	546	512	1,109	1,021
Operating expenses	356	338	699	692
Operating income	190	174	410	329
Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	249	297	485	604
Transaction-based expenses	0	0	0	0
Total revenues, less transaction-based expenses	249	297	485	604
Operating expenses	266	303	530	557
Operating income	(17)	(6)	(45)	47
Energy futures and options
Segment Reporting Information [Line Items]
Total revenues	355	265	700	618
Energy futures and options | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	355	265	700	618
Energy futures and options | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Energy futures and options | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Agricultural and metals futures and options
Segment Reporting Information [Line Items]
Total revenues	77	61	147	122
Agricultural and metals futures and options | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	77	61	147	122
Agricultural and metals futures and options | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Agricultural and metals futures and options | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Financial futures and options
Segment Reporting Information [Line Items]
Total revenues	104	123	232	253
Financial futures and options | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	104	123	232	253
Financial futures and options | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Financial futures and options | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Cash equities and equity options
Segment Reporting Information [Line Items]
Total revenues	544	698	1,215	1,357
Cash equities and equity options | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	544	698	1,215	1,357
Cash equities and equity options | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Cash equities and equity options | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
OTC and other
Segment Reporting Information [Line Items]
Total revenues	104	108	205	205
OTC and other | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	104	108	205	205
OTC and other | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
OTC and other | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Data and connectivity services
Segment Reporting Information [Line Items]
Total revenues	231	218	463	432
Data and connectivity services | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	231	218	463	432
Data and connectivity services | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Data and connectivity services | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Listings
Segment Reporting Information [Line Items]
Total revenues	126	131	252	260
Listings | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	126	131	252	260
Listings | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Listings | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Fixed income execution
Segment Reporting Information [Line Items]
Total revenues	28	25	60	40
Fixed income execution | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Fixed income execution | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	28	25	60	40
Fixed income execution | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
CDS clearing
Segment Reporting Information [Line Items]
Total revenues	84	66	185	138
CDS clearing | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
CDS clearing | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	84	66	185	138
CDS clearing | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Fixed income data and analytics
Segment Reporting Information [Line Items]
Total revenues	277	274	553	551
Fixed income data and analytics | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Fixed income data and analytics | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	277	274	553	551
Fixed income data and analytics | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Other data and network services
Segment Reporting Information [Line Items]
Total revenues	157	147	311	292
Other data and network services | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Other data and network services | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	157	147	311	292
Other data and network services | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Origination technology
Segment Reporting Information [Line Items]
Total revenues	170	196	337	399
Origination technology | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Origination technology | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Origination technology | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	170	196	337	399
Closing solutions
Segment Reporting Information [Line Items]
Total revenues	47	66	87	138
Closing solutions | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Closing solutions | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Closing solutions | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	47	66	87	138
Data and analytics
Segment Reporting Information [Line Items]
Total revenues	24	24	45	44
Data and analytics | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Data and analytics | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Data and analytics | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	24	24	45	44
Other
Segment Reporting Information [Line Items]
Total revenues	8	11	16	23
Other | Exchanges Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Other | Fixed Income and Data Services Segment
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Other | Mortgage Technology Segment
Segment Reporting Information [Line Items]
Total revenues	$ 8	$ 11	$ 16	$ 23

Earnings Per Common Share - Rec

Earnings Per Common Share - Reconciliation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Basic:
Net income attributable to Intercontinental Exchange, Inc.	$ 799	$ 555	$ 1,454	$ 1,212
Weighted average common shares outstanding (in shares)	560	558	560	560
Basic earnings per common share (in dollars per share)	$ 1.43	$ 0.99	$ 2.60	$ 2.17
Diluted:
Weighted average common shares outstanding (in shares)	560	558	560	560
Effect of dilutive securities - stock options and restricted stock (in shares)	1	2	1	2
Diluted weighted average common shares outstanding (in shares)	561	560	561	562
Diluted earnings per common share (in dollars per share)	$ 1.42	$ 0.99	$ 2.59	$ 2.16

Earnings Per Common Share - Nar

Earnings Per Common Share - Narrative (Details) - shares shares in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1	1