v3.26.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Schedule of Balance Sheet Information The
following table provides supplemental balance sheet
information related to Nasdaq’s operating leases:
Balance Sheet
Classification
September 30, 2026
December 31, 2025
Assets:
(in millions)
Operating
lease
assets
Operating
lease assets
$481
$447
Liabilities:
Current
lease
liabilities
Other current
liabilities
$79
$60
Non-
current
lease
liabilities
Operating
lease
liabilities
476
462
Total lease
liabilities
$555
$522
Schedule of Lease Cost, Lease Term and Discount Rate The following table summarizes Nasdaq’s lease cost:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2026
2025
2026
2025
(in millions)
Operating lease cost
$24
$21
$70
$60
Variable lease cost
11
12
35
31
Sublease income
(1)
(1)
(2)
(1)
Total lease cost
$34
$32
$103
$90
The following table provides information related to Nasdaq’s
lease term and discount rate:
September 30, 2026
Weighted-average remaining lease term
(in years)
7.4
Weighted-average discount rate
4.3%
The following table provides supplemental cash flow
information related to Nasdaq’s operating leases:
Nine Months Ended September 30,
2026
2025
(in millions)
Cash paid for amounts included
in the measurement of
operating lease liabilities
$70
$59
Lease assets obtained in
exchange for operating lease
liabilities
$92
$107
Schedule of Operating Lease Liabilities The following table reconciles the undiscounted cash flows
for the following years and total of the remaining years to the
operating lease liabilities recorded in the Condensed
Consolidated Balance Sheets.
September 30, 2026
(in millions)
Remainder of 2026
$25
2027
98
2028
96
2029
90
2030
84
2031+
255
Total lease payments
$648
Less: interest
(93)
Present value of lease liabilities
$555