Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income		$ 1,187	$ 933	$ 774
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		278	202	190
Share-based compensation		90	87	79
Deferred income taxes		94	41	35
Extinguishment of debt		33	36	11
Net gain on divestiture of businesses		(84)	0	(27)
Net income from unconsolidated investees		(52)	(70)	(84)
Other reconciling items included in net income		6	32	33
Net change in operating assets and liabilities, net of effects of acquisitions:
Receivables, net		(6)	(167)	(42)
Other assets		(140)	26	(173)
Accounts payable and accrued expenses		(17)	5	(49)
Section 31 fees payable to SEC		(162)	92	23
Accrued personnel costs		28	32	(9)
Deferred revenue		106	15	(15)
Other liabilities	[1]	(278)	(12)	217
Net cash provided by operating activities		1,083	1,252	963
Cash flows from investing activities:
Purchases of securities		(316)	(283)	(579)
Proceeds from sales and redemptions of securities		285	402	543
Proceeds from divestiture of businesses, net of cash divested		190	0	132
Proceeds from sale of investment securities		0	22	11
Acquisition of businesses, net of cash and cash equivalents acquired		(2,430)	(157)	(206)
Purchases of property and equipment		(163)	(188)	(127)
Investments related to default funds and margin deposits, net	[2]	(132)	109	(174)
Other investing activities		(87)	(27)	(14)
Net cash used in investing activities		(2,653)	(122)	(414)
Cash flows from financing activities:
Proceeds from (repayments of) commercial paper, net		420	(391)	116
Repayments of borrowings under our credit commitment and debt obligations		(804)	(1,468)	(1,215)
Payment of debt extinguishment cost		(33)	(36)	(11)
Proceeds from issuances of debt, net of issuance costs and utilization of credit commitment		826	3,807	680
Dividends paid		(350)	(320)	(305)
Payments related to employee shares withheld for taxes		(61)	(40)	(39)
Change in default fund contributions and margin deposits		2,330	527	(1,535)
Other financing activities		7	3	0
Net cash provided by (used in) financing activities		1,418	1,910	(2,472)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents		(331)	353	(188)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents		(483)	3,393	(2,111)
Cash and cash equivalents, restricted cash and cash equivalents at beginning of period		5,979	2,586	4,697
Cash and cash equivalents, restricted cash and cash equivalents at end of period		5,496	5,979	2,586
Reconciliation of Cash, Cash Equivalents and Restricted Cash and Cash Equivalents
Cash and cash equivalents		393	2,745	332
Restricted cash and cash equivalents		29	37	30
Restricted cash and cash equivalents (default funds and margin deposits)		5,074	3,197	2,224
Total		5,496	5,979	2,586
Supplemental Disclosure Cash Flow Information
Cash paid for: Interest		118	97	120
Income taxes, net of refund	[1]	501	290	205
Share repurchase program
Cash flows from financing activities:
Repurchases of common stock		(468)	(222)	(200)
Proceeds received from employee stock activity and other issuances		26	50	37
ASR agreement
Cash flows from financing activities:
Repurchases of common stock		$ (475)	$ 0	$ 0

[1] Includes payment of an acquired tax liability in 2021 related to the Verafin acquisition. See “2021 Acquisition,” of Note 4, “Acquisitions and Divestiture,” for further discussion.

[2] Includes purchases and proceeds from sales and redemptions related to the default funds and margin deposits of our clearing operations. For further information, see "Default Fund Contributions and Margin Deposits," within Note 15, "Clearing Operations."