v3.26.1
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue Recognition
The following tables depict the disaggregation of our revenues 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 14:
 Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Six Months Ended June 30, 2026:
Total revenues (1)
$4,879 $1,302 $1,096 $7,277 
Transaction-based expenses1,634 — — 1,634 
Total revenues, less transaction-based expenses$3,245 $1,302 $1,096 $5,643 
Timing of Revenue Recognition
Services transferred at a point in time$2,085 $234 $284 $2,603 
Services transferred over time1,160 1,068 812 3,040 
Total revenues, less transaction-based expenses$3,245 $1,302 $1,096 $5,643 
(1) Included in total revenues is revenue related to net interest income earned on cash margin received from clearing members at certain ICE clearing houses. These amounts were $66 million and $54 million recorded in our Exchanges and Fixed Income and Data Services segments, respectively.
Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Three Months Ended June 30, 2026:
Total revenues (1)
$2,409 $645 $557 $3,611 
Transaction-based expenses945 — — 945 
Total revenues, less transaction-based expenses$1,464 $645 $557 $2,666 
Timing of Revenue Recognition
Services transferred at a point in time$903 $105 $149 $1,157 
Services transferred over time561 540 408 1,509 
Total revenues, less transaction-based expenses$1,464 $645 $557 $2,666 
(1) Included in total revenues is revenue related to net interest income earned on cash margin received from clearing members at certain ICE clearing houses. These amounts were $38 million and $28 million recorded in our Exchanges and Fixed Income and Data Services segments, respectively.
 Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Six Months Ended June 30, 2025:
Total revenues (1)
$4,257 $1,193 $1,041 $6,491 
Transaction-based expenses1,475 — — 1,475 
Total revenues, less transaction-based expenses$2,782 $1,193 $1,041 $5,016 
Timing of Revenue Recognition
Services transferred at a point in time$1,746 $220 $243 $2,209 
Services transferred over time1,036 973 798 2,807 
Total revenues, less transaction-based expenses$2,782 $1,193 $1,041 $5,016 
(1) Included in total revenues is revenue related to net interest income earned on cash margin received from clearing members at certain ICE clearing houses. These amounts were $52 million and $54 million recorded in our Exchanges and Fixed Income and Data Services segments, respectively.
Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Three Months Ended June 30, 2025:
Total revenues (1)
$2,134 $597 $531 $3,262 
Transaction-based expenses719 — — 719 
Total revenues, less transaction-based expenses$1,415 $597 $531 $2,543 
Timing of Revenue Recognition
Services transferred at a point in time$894 $106 $133 $1,133 
Services transferred over time521 491 398 1,410 
Total revenues, less transaction-based expenses$1,415 $597 $531 $2,543 
(1) Included in total revenues is revenue related to net interest income earned on cash margin received from clearing members at certain ICE clearing houses. These amounts were $27 million and $28 million recorded in our Exchanges and Fixed Income and Data Services segments, respectively.
The components of services transferred over time for each of our segments are as follows (in millions):
Six Months Ended June 30,
Three Months Ended June 30,
 2026202520262025
Exchanges Segment:
Data services revenues
$564 $501 $287 $255 
Services transferred over time related to risk management of open interest performance obligations
273 223 112 114 
Services transferred over time related to listings257 245 129 123 
Services transferred over time related to regulatory fees, trading permits, and software licenses66 67 33 29 
Total
$1,160 $1,036 $561 $521 
Fixed Income and Data Services Segment:
Data services revenues$1,045 $954 $531 $483 
Services transferred over time related to risk management of open interest performance obligations in our CDS business23 19 9 8 
Total
$1,068 $973 $540 $491 
Mortgage Technology Segment:
Recurring revenues$807 $792 $406 $395 
Other5 6 2 3 
Total$812 $798 $408 $398 
Total consolidated revenues transferred over time$3,040 $2,807 $1,509 $1,410