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Experts | | | | | 21 | | |
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Year Ended December 31,
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2021
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2020
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2019
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(in millions)
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Income Statement Data: | | | | | | | | | | | | | | | | | | | |
Revenues:
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| | | | | | | | | | | | | | | | | | |
Transaction and clearing fees
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| | | $ | 2,693.1 | | | | | $ | 2,418.0 | | | | | $ | 1,716.2 | | |
Access and capacity fees
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| | | | 280.7 | | | | | | 236.7 | | | | | | 221.9 | | |
Market data fees
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| | | | 252.1 | | | | | | 232.0 | | | | | | 213.5 | | |
Regulatory fees
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| | | | 208.3 | | | | | | 500.2 | | | | | | 311.7 | | |
Other revenue
|
| | | | 60.6 | | | | | | 40.2 | | | | | | 32.8 | | |
Total revenues
|
| | | | 3,494.8 | | | | | | 3,427.1 | | | | | | 2,496.1 | | |
Cost of Revenues:
|
| | | | | | | | | | | | | | | | | | |
Liquidity payments
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| | | | 1,650.7 | | | | | | 1,554.1 | | | | | | 964.7 | | |
Routing and clearing
|
| | | | 87.8 | | | | | | 70.4 | | | | | | 35.8 | | |
Section 31 fees(1)
|
| | | | 179.6 | | | | | | 465.0 | | | | | | 271.4 | | |
Royalty fees
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| | | | 86.3 | | | | | | 83.4 | | | | | | 86.8 | | |
Other
|
| | | | 14.3 | | | | | | (0.1) | | | | | | 0.5 | | |
Total cost of revenues
|
| | | | 2,018.7 | | | | | | 2,172.8 | | | | | | 1,359.2 | | |
Revenues less cost of revenues
|
| | | | 1,476.1 | | | | | | 1,254.3 | | | | | | 1,136.9 | | |
Operating expenses:
|
| | | | | | | | | | | | | | | | | | |
Compensation and benefits
|
| | | | 288.5 | | | | | | 224.9 | | | | | | 199.0 | | |
Depreciation and amortization
|
| | | | 167.4 | | | | | | 158.5 | | | | | | 176.6 | | |
Technology support services
|
| | | | 66.7 | | | | | | 54.5 | | | | | | 46.2 | | |
Professional fees and outside services
|
| | | | 83.7 | | | | | | 60.6 | | | | | | 68.3 | | |
Travel and promotional expenses
|
| | | | 9.7 | | | | | | 6.6 | | | | | | 11.9 | | |
Facilities costs
|
| | | | 22.2 | | | | | | 17.6 | | | | | | 11.0 | | |
Acquisition-related costs
|
| | | | 15.6 | | | | | | 45.2 | | | | | | 48.5 | | |
Other expenses
|
| | | | 16.4 | | | | | | 24.2 | | | | | | 38.2 | | |
Total operating expenses
|
| | | | 670.2 | | | | | | 592.1 | | | | | | 599.7 | | |
Operating income
|
| | | | 805.9 | | | | | | 662.2 | | | | | | 537.2 | | |
Non-operating (expenses) income:
|
| | | | | | | | | | | | | | | | | | |
Interest expense, net
|
| | | | (47.4) | | | | | | (37.6) | | | | | | (35.9) | | |
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Year Ended December 31,
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2021
|
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2020
|
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2019
|
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| | |
(in millions)
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Other income (expense), net
|
| | | | (2.4) | | | | | | 35.8 | | | | | | 0.1 | | |
Income before income tax provision (benefit)
|
| | | | 756.1 | | | | | | 660.4 | | | | | | 501.4 | | |
Income tax provision
|
| | | | 227.1 | | | | | | 192.2 | | | | | | 130.6 | | |
Net income
|
| | | | 529.0 | | | | | | 468.2 | | | | | | 370.8 | | |
Net loss attributable to redeemable noncontrolling interest
|
| | | | — | | | | | | — | | | | | | 4.1 | | |
Net income excluding redeemable noncontrolling interest
|
| | | | 529.0 | | | | | | 468.2 | | | | | | 374.9 | | |
Change in redemption value of redeemable noncontrolling interest
|
| | | | — | | | | | | — | | | | | | (0.5) | | |
Net income allocated to participating securities
|
| | | | (1.7) | | | | | | (1.2) | | | | | | (1.7) | | |
Net income allocated to common stockholders
|
| | | $ | 527.3 | | | | | $ | 467.0 | | | | | $ | 372.7 | | |
|
| | |
As of December 31,
2021 |
| |||
| | |
(in millions)
|
| |||
Balance Sheet Data: | | | | | | | |
Total assets
|
| | | $ | 6,814.5 | | |
Total liabilities
|
| | | | 3,209.7 | | |
Total stockholders’ equity
|
| | | | 3,604.8 | | |
| | |
As of December 31, 2021
|
| |||
| | |
(in millions)
|
| |||
Cash and cash equivalents
|
| | | $ | 341.9 | | |
Long-term debt | | | | | | | |
Term loan facility
|
| | | $ | 159.5 | | |
Revolving credit facility
|
| | | | — | | |
EuroCCP credit facility
|
| | | | — | | |
3.650% Senior Notes due 2027(1)
|
| | | | 646.5 | | |
1.625% Senior Notes due 2030(1)
|
| | | | 493.3 | | |
Total long-term debt
|
| | | | 1,299.3 | | |
Total Cboe Global Markets stockholders’ equity
|
| | | | 3,604.8 | | |
Total capitalization
|
| | | $ | 4,904.1 | | |
Underwriter
|
| |
Principal
Amount of Notes |
| |||
BofA Securities, Inc.
|
| | | $ | | | |
J.P. Morgan Securities LLC
|
| | | | | | |
Morgan Stanley & Co. LLC
|
| | | | | | |
Total
|
| | | $ | | | |
| | |
Page
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| BofA Securities | | |
J.P. Morgan
|
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Morgan Stanley
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