v3.26.3
Goodwill and Acquired Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of Changes in Goodwill The following table presents the changes in goodwill by
business segment during the nine months ended September
30, 2026:
(in millions)
Capital Access Platforms
Balance at December 31, 2025
$4,285
Goodwill acquired
70
Foreign currency translation adjustments
(83)
Balance at September 30, 2026
$4,272
Financial Technology
Balance at December 31, 2025
$7,952
Foreign currency translation adjustments
(13)
Balance at September 30, 2026
$7,939
Market Services
Balance at December 31, 2025
$2,134
Foreign currency translation adjustments
(98)
Balance at September 30, 2026
$2,036
Total
Balance at December 31, 2025
$14,371
Goodwill acquired
70
Foreign currency translation adjustments
(194)
Balance at September 30, 2026
$14,247
Schedule of Acquired Finite-Lived Intangible Assets The following table presents details of our total acquired
intangible assets, both finite- and indefinite-lived:
September 30,
2026
December 31,
2025
Finite-Lived Intangible Assets
(in millions)
Gross Amount:
Technology
$1,222
$1,222
Customer relationships
5,645
5,711
Trade names and other
405
405
Foreign currency translation
adjustment
(170)
(163)
Total gross amount
$7,102
$7,175
Accumulated Amortization:
Technology
$(673)
$(531)
Customer relationships
(1,584)
(1,432)
Trade names and other
(68)
(53)
Foreign currency translation
adjustment
122
113
Total accumulated amortization
$(2,203)
$(1,903)
Net Amount:
Technology
$549
$691
Customer relationships
4,061
4,279
Trade names and other
337
352
Foreign currency translation
adjustment
(48)
(50)
Total finite-lived intangible assets
$4,899
$5,272
Indefinite-Lived Intangible Assets
Exchange and clearing
registrations
$1,257
$1,257
Trade names
121
121
Licenses
50
52
Foreign currency translation
adjustment
(221)
(191)
Total indefinite-lived intangible
assets
$1,207
$1,239
Total intangible assets, net
$6,106
$6,511
Schedule of Acquired Indefinite-lived Intangible Assets The following table presents details of our total acquired
intangible assets, both finite- and indefinite-lived:
September 30,
2026
December 31,
2025
Finite-Lived Intangible Assets
(in millions)
Gross Amount:
Technology
$1,222
$1,222
Customer relationships
5,645
5,711
Trade names and other
405
405
Foreign currency translation
adjustment
(170)
(163)
Total gross amount
$7,102
$7,175
Accumulated Amortization:
Technology
$(673)
$(531)
Customer relationships
(1,584)
(1,432)
Trade names and other
(68)
(53)
Foreign currency translation
adjustment
122
113
Total accumulated amortization
$(2,203)
$(1,903)
Net Amount:
Technology
$549
$691
Customer relationships
4,061
4,279
Trade names and other
337
352
Foreign currency translation
adjustment
(48)
(50)
Total finite-lived intangible assets
$4,899
$5,272
Indefinite-Lived Intangible Assets
Exchange and clearing
registrations
$1,257
$1,257
Trade names
121
121
Licenses
50
52
Foreign currency translation
adjustment
(221)
(191)
Total indefinite-lived intangible
assets
$1,207
$1,239
Total intangible assets, net
$6,106
$6,511
Schedule of Finite-lived Intangible Assets Amortization Expense The following tables present our amortization expense for
acquired finite-lived intangible assets:
Three Months Ended September 30,
2026
2025
(in millions)
Amortization expense
$121
$122
Nine Months Ended September 30,
2026
2025
(in millions)
Amortization expense
$364
$365
Schedule of Estimated Future Amortization Expense The table below presents the estimated future amortization
expense (excluding the impact of foreign currency translation
adjustments of $48 million as of September 30, 2026) of
acquired finite-lived intangible assets as of September 30,
2026:
(in millions)
Remainder of 2026
$123
2027
492
2028
459
2029
433
2030
271
2031+
3,169
Total
$4,947