v3.26.3
Revenue Recognition (Tables)
 9 Months Ended
Sep. 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 15:
Exchanges SegmentFixed Income and Data Services SegmentMortgage Technology SegmentTotal Consolidated
Nine Months Ended September 30, 2026:
Total revenues (1)
$7,286 $1,976 $1,645 $10,907 
Transaction-based expenses2,499 — — 2,499 
Total revenues, less transaction-based expenses$4,787 $1,976 $1,645 $8,408 
Timing of Revenue Recognition
Services transferred at a point in time$3,052 $358 $425 $3,835 
Services transferred over time1,735 1,618 1,220 4,573 
Total revenues, less transaction-based expenses$4,787 $1,976 $1,645 $8,408 
(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 $104 million and $82 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 September 30, 2026:
Total revenues (1)
$2,407 $674 $549 $3,630 
Transaction-based expenses865 — — 865 
Total revenues, less transaction-based expenses$1,542 $674 $549 $2,765 
Timing of Revenue Recognition
Services transferred at a point in time$967 $124 $141 $1,232 
Services transferred over time575 550 408 1,533 
Total revenues, less transaction-based expenses$1,542 $674 $549 $2,765 
(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
Nine Months Ended September 30, 2025:
Total revenues (1)
$6,118 $1,811 $1,569 $9,498 
Transaction-based expenses2,071 — — 2,071 
Total revenues, less transaction-based expenses$4,047 $1,811 $1,569 $7,427 
Timing of Revenue Recognition
Services transferred at a point in time$2,494 $332 $376 $3,202 
Services transferred over time1,553 1,479 1,193 4,225 
Total revenues, less transaction-based expenses$4,047 $1,811 $1,569 $7,427 
(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 $76 million and $82 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 September 30, 2025:
Total revenues (1)
$1,861 $618 $528 $3,007 
Transaction-based expenses596 — — 596 
Total revenues, less transaction-based expenses$1,265 $618 $528 $2,411 
Timing of Revenue Recognition
Services transferred at a point in time$748 $112 $133 $993 
Services transferred over time517 506 395 1,418 
Total revenues, less transaction-based expenses$1,265 $618 $528 $2,411 
(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 $24 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):
Nine Months Ended September 30,
Three Months Ended September 30,
2026202520262025
Exchanges Segment:
Data services revenues
$856 $765 $292 $264 
Services transferred over time related to risk management of open interest performance obligations
395 317 122 94 
Services transferred over time related to listings387 370 130 125 
Services transferred over time related to regulatory fees, trading permits, and software licenses97 101 31 34 
Total
$1,735 $1,553 $575 $517 
Fixed Income and Data Services Segment:
Data services revenues$1,583 $1,449 $538 $495 
Services transferred over time related to risk management of open interest performance obligations in our CDS business35 30 12 11 
Total
$1,618 $1,479 $550 $506 
Mortgage Technology Segment:
Recurring revenues$1,212 $1,183 $405 $391 
Other8 10 3 4 
Total$1,220 $1,193 $408 $395 
Total consolidated revenues transferred over time$4,573 $4,225 $1,533 $1,418