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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Total revenues $ 985.8 $ 800.8 $ 1,960.3 $ 1,811.6
Cost of revenues:        
Total cost of revenues 561.7 450.2 1,118.1 1,095.5
Revenues less cost of revenues 424.1 350.6 842.2 716.1
Operating expenses:        
Compensation and benefits 86.2 67.7 167.4 140.0
Depreciation and amortization 40.2 40.6 81.1 82.6
Technology support services 18.1 16.2 37.3 33.4
Professional fees and outside services 24.1 22.4 43.8 38.0
Travel and promotional expenses 5.5 1.9 8.4 3.5
Facilities costs 6.6 5.4 13.1 10.7
Acquisition-related costs 14.3 1.8 16.3 5.2
Goodwill impairment charge 460.1   460.1  
Other expenses 6.4 4.6 12.4 8.1
Total operating expenses 661.5 160.6 839.9 321.5
Operating (loss) income (237.4) 190.0 2.3 394.6
Non-operating (expenses) income:        
Interest expense, net (14.6) (12.3) (25.4) (24.6)
Other (expense) income, net (4.8) 1.5 (8.8) 2.1
(Loss) income before income tax provision (256.8) 179.2 (31.9) 372.1
Income tax (benefit) provision (72.3) 73.7 43.0 129.4
Net (loss) income (184.5) 105.5 (74.9) 242.7
Net income allocated to participating securities   (0.3)   (0.7)
Net (loss) income allocated to common stockholders $ (184.5) $ 105.2 $ (74.9) $ 242.0
Basic (loss) earnings per share (in dollars per share) $ (1.74) $ 0.99 $ (0.70) $ 2.26
Diluted (loss) earnings per share (in dollars per share) $ (1.74) $ 0.98 $ (0.70) $ 2.26
Basic weighted average shares outstanding (in shares) 106.3 106.8 106.5 107.1
Diluted weighted average shares outstanding (in shares) 106.3 106.9 106.5 107.3
Cash and spot markets        
Revenues:        
Total revenues $ 458.5 $ 372.7 $ 920.4 $ 921.6
Data and access solutions        
Revenues:        
Total revenues 123.9 103.0 242.8 203.6
Derivatives markets        
Revenues:        
Total revenues 403.4 325.1 797.1 686.4
Liquidity payments        
Cost of revenues:        
Total cost of revenues 429.0 377.9 896.5 879.7
Routing and clearing        
Cost of revenues:        
Total cost of revenues 20.9 19.9 43.2 47.0
Section 31 fees        
Cost of revenues:        
Total cost of revenues 79.6 28.8 115.3 120.7
Royalty fees and other cost of revenues        
Cost of revenues:        
Total cost of revenues $ 32.2 $ 23.6 $ 63.1 $ 48.1