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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net income $ 2,438 $ 1,498 $ 4,069
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,215 1,031 1,009
Stock-based compensation 257 155 188
Deferred taxes (329) (593) 537
Fair value loss on promissory note 160 0 0
Gain on deconsolidation of Bakkt 0 0 (1,419)
(Gains)/losses on sale of investments 4 (41) (1,261)
Net losses from and impairment of unconsolidated investees 122 1,340 42
Other 63 41 45
Changes in assets and liabilities:      
Customer accounts receivable (71) 20 (5)
Other current and non-current assets (41) (196) (100)
Section 31 fees payable (144) 166 (150)
Deferred revenue (16) (27) 34
Other current and non-current liabilities (116) 160 134
Total adjustments 1,104 2,056 (946)
Net cash provided by operating activities 3,542 3,554 3,123 Close
Investing activities:      
Capital expenditures (190) (225) (179)
Capitalized software development costs (299) (257) (273)
Cash paid for acquisitions, net of cash acquired (10,198) (59) (66)
Purchases of equity and equity method investments (8) (73) (117)
Proceeds from the sales of equity investments 187 741 1,237
Purchases of restricted investments (1,312) 0 0
Proceeds from restricted investments 641 0 0
Proceeds from/(purchases of) other investments, net (4)    
Proceeds from/(purchases of) other investments, net   2 1
Purchases of invested margin deposits (1,588) (6,935) (5,050)
Proceeds from sales of invested margin deposits 3,974 7,483 3,661
Net cash used in investing activities (8,797) 677 (786) Close
Financing activities:      
Proceeds from debt offerings, net 2,400 7,891 0
Repayments of debt (2,286) (2,705) (1,246)
Proceeds from/(redemption of) commercial paper, net 1,954    
Proceeds from/(redemption of) commercial paper, net   (1,012) (1,393)
Repurchases of common stock 0 (632) (250)
Dividends to stockholders (955) (853) (747)
Change in cash and cash equivalent margin deposits and guaranty funds liability (65,396) (4,493) 65,697
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises (78) (73) (70)
Other 16 36 35
Net cash (used in)/provided by financing activities (64,345) (1,841) 62,026 Close
Effect of exchange rate changes on cash, cash equivalents, restricted cash and cash equivalents, and cash and cash equivalent margin deposits and guaranty funds 7 (23) (6) Close
Net (decrease)/increase in cash, cash equivalents, restricted cash and cash equivalents, and cash and cash equivalent margin deposits and guaranty funds (69,593) 2,367 64,357 Close
Cash, cash equivalents, restricted cash and cash equivalents and cash and cash equivalent margin deposits and guaranty funds at beginning of year 150,343 147,976 83,619
Cash, cash equivalents, restricted cash and cash equivalents and cash and cash equivalent margin deposits and guaranty funds at end of year 80,750 150,343 147,976
Supplemental cash flow disclosures:      
Cash paid for income taxes 909 882 1,057
Cash paid for interest $ 727 $ 550 $ 406