Intercontinental Exchange, Inc.

NYSE-ICE

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Operating Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Net Income	3,217	2,802	2,438	1,498	4,069	2,108	1,960	2,020	2,554	1,457	1,295
Net Income
Less: Income from Discontinued Operations, Net of Tax
Income from Continuing Operations
Depreciation & Amortization	1,560	1,537	1,215	1,031	1,009	751	662	586	535	610	374
Depreciation and Amortization
Deferred Revenue Amortization
Share-Based Compensation Expense	229	231	257	155	188	139	139	130	135	124	111
Stock-Based Compensation
Other Adjustments	81	-24	20	747	-2,056	12	-95	-107	-900	114	-148
Deferred Taxes
Excess Tax Benefits from Stock-Based Compensation
Gain on Acquisition of Remaining MERS Interest
Fair Value Loss on Promissory Note
Gain on Deconsolidation of Bakkt
Gain/Loss on Investments
Trayport Gain, Net
Amortization of Fair Market Value Premium on NYSE Notes
Net Income/Losses from Unconsolidated Investees
Other
Changes in Trade Receivables	9	-149	-71	20	-5	-149	-30	-44	-135	-65	-45
Customer Accounts Receivable
Changes in Income Taxes Payable	—	—	—	—	—	—	—	—	—	—	—
Income Taxes Payable
Changes in Unearned Revenue	-28	27	-16	-27	34	2	-18	1	8	28	27
Deferred Revenue
Changes in Other Operating Activities	-176	185	-301	130	-116	18	19	-53	-112	-119	-303
Other Current and Non-Current Assets
Section 31 Fees Payable
Other Current and Non-Current Liabilities
Cash from Operating Activities	4,893	4,609	3,542	3,554	3,123	2,881	2,659	2,533	2,085	2,149	1,311
Net Cash Provided by Operating Activities from Discontinued Operations

Investing Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Capital Expenditure	-401	-406	-190	-225	-179	-207	-153	-134	-220	-250	-190
Capital Expenditures
Purchases of Intangible Assets	-400	-346	-299	-257	-273	-203	-152	-146	-137	-115	-87
Capitalized Software Development Costs
Purchases of Investments	-5,641	-2,172	-2,908	-7,008	-5,167	-3,371	-1,890	-306	-327	-70	-60
Purchases of Invested Margin Deposits
Purchases of Equity and Equity Method Investments
Purchases of Restricted Investments
Proceeds from Sale of Investments	3,499	2,027	4,798	8,226	4,899	2,844	813	77	—	—	1,089
Proceeds from Invested Margin Deposits
Return of Capital from Equity Method Investment
Proceeds from Sale of Promissory Note
Proceeds from Term Deposits
Proceeds from Investments
Proceeds from Sales of Restricted Investments
Proceeds from Investments, Net
Payments for Business Acquisitions	-49	-38	-10,198	-59	-66	-9,446	-352	-1,246	-423	-425	-3,751
Cash Paid for Acquisitions, Net of Cash Acquired
Proceeds from Business Divestments	—	—	—	—	—	—	—	—	1,199	—	—
Proceeds from IPO and Sale of Euronext and Sale of NYSE Technologies
Proceeds from Sale of Cetip, Net
Cash Received from Divestitures
Other Investing Activities	—	14	—	—	—	22	-6	—	—	—	-5
Change in Restricted Cash and Investments
Other Investing Activities
Cash from Investing Activities	-2,087	-921	-8,797	677	-786	-10,361	-1,740	-1,755	92	-860	-3,004
Net Cash Provided by Investing Activities from Discontinued Operations

Financing Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Issuance of Short-Term Debt	—	-1,424	1,954	-1,012	-1,393	1,094	360	-283	-409	—	1,686
Proceeds from Commercial Paper, Net
Repayments of Short-Term Debt	471	—	—	—	—	—	—	—	—	-949	—
Redemption of Commercial Paper, Net
Net Issuance / (Repayments) of Short-Term Debt	471	-1,424	1,954	-1,012	-1,393	1,094	360	-283	-409	-949	1,686
Issuance of Long-Term Debt	—	739	2,400	7,891	—	9,606	10	2,213	984	—	2,472
Proceeds from Debt Facilities, Net
Proceeds from Debt Issuances
Repayments of Long-Term Debt	—	-1,600	-2,286	-2,705	-1,246	-2,004	—	-600	-850	—	-1,028
Repayments of Debt Facilities and Commercial Paper, Net
Repayments of Debt
Net Issuance / (Repayments) of Long-Term Debt	—	-861	114	5,186	-1,246	7,602	10	1,613	134	—	1,444
Issuance of Common Shares	—	—	—	—	—	—	—	—	—	—	—
Proceeds from Exercise of Common Stock Options
Repurchases of Common Shares	-107	-81	-78	-705	-320	-1,321	-1,525	-1,278	-1,037	-104	-705
Repurchases of Common Stock
Payments Relating to Treasury Shares Received for Restricted Stock Tax Payments and Stock Option Exercises
Net Issuance / (Repurchases) of Common Shares	-107	-81	-78	-705	-320	-1,321	-1,525	-1,278	-1,037	-104	-705
Common Share Dividends Paid	-1,090	-1,039	-955	-853	-747	-669	-621	-555	-476	-409	-331
Dividends Paid to Stockholders
Other Financing Activities	6,158	3,484	-65,380	-4,457	65,732	19,294	1,352	40	-183	—	-118
Capital Contributions from Non-Controlling Interests
Excess Tax Benefits from Stock-Based Compensation
Issuance Costs for Debt Facilities
Change in Cash and Cash Equivalent Margin Deposits and Guaranty Funds Liability
Distributions of Profits to Non-Controlling Interest
Acquisition of Non-Controlling Interest and Redeemable Non-Controlling Interest
Purchase of Subsidiary Shares from Non-Controlling Interest
Other
Cash from Financing Activities	1,864	79	-64,345	-1,841	62,026	26,000	-424	-463	-1,971	-1,462	1,976
Net Cash Provided by Financing Activities from Discontinued Operations

Free Cash Flow	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Free Cash Flow	4,492	4,203	3,352	3,329	2,944	2,674	2,506	2,399	1,865	1,899	1,121
NOPAT	3,665.9	3,328	3,111.9	3,014.2	2,463	2,311.5	2,111.7	2,070.5	2,405.4	1,549	1,371
Levered Free Cash Flow	4,588	1,812	5,144	6,529	2,167	11,349	2,813	3,718	2,462	750	4,312
Unlevered Free Cash Flow	4,620.9	4,671	3,819.9	3,923.2	3,211	2,875.5	2,621.7	2,470.5	2,616.4	1,818	1,279
Net Change in Cash	4,670	3,767	-69,600	2,390	64,363	18,520	495	315	206	-173	283