NASDAQ INC
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 21, 2024
NDAQ$110.02+1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net income | $1,057 | $1,123 | $1,187 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 323 | 258 | 278 |
| Share-based compensation | 122 | 106 | 90 |
| Deferred income taxes | 68 | 38 | 94 |
| Extinguishment of debt and bridge fees | 25 | 16 | 33 |
| Net gain on divestiture of business | — | — | (84) |
| Non-cash restructuring charges | 12 | — | — |
| Net (income) loss from unconsolidated investees | 7 | (31) | (52) |
| Operating lease asset impairments | 13 | — | — |
| Other reconciling items included in net income | 30 | 28 | 6 |
| Net change in operating assets and liabilities, net of effects of acquisitions: | |||
| Receivables, net | 3 | (101) | (6) |
| Other assets | 9 | 98 | (140) |
| Accounts payable and accrued expenses | 149 | 19 | (17) |
| Section 31 fees payable to SEC | (160) | 181 | (162) |
| Accrued personnel costs | 13 | — | 28 |
| Deferred revenue | 88 | 16 | 106 |
| Other liabilities | (63) | (45) | (278) |
| Net cash provided by operating activities | 1,696 | 1,706 | 1,083 |
| Cash flows from investing activities: | |||
| Purchases of securities | (712) | (322) | (316) |
| Proceeds from sales and redemptions of securities | 719 | 320 | 285 |
| Proceeds from divestiture of business, net of cash divested | — | — | 190 |
| Acquisition of businesses, net of cash and cash equivalents acquired | (5,766) | (41) | (2,430) |
| Purchases of property and equipment | (158) | (152) | (163) |
| Investments related to default funds and margin deposits, net(1) | (74) | 211 | (132) |
| Other investing activities | (3) | 33 | (87) |
| Net cash provided by (used in) investing activities | (5,994) | 49 | (2,653) |
| Cash flows from financing activities: | |||
| Proceeds from (repayments of) commercial paper, net | (371) | 238 | 420 |
| Repayments of debt and credit commitment | (260) | (1,097) | (804) |
| Payment of debt extinguishment cost and bridge fees | (25) | (16) | (33) |
| Proceeds from issuances of debt, net of issuance costs | 5,608 | 541 | 826 |
| Repurchases of common stock | (269) | (308) | (468) |
| ASR agreement | — | (325) | (475) |
| Dividends paid | (441) | (383) | (350) |
| Proceeds received from employee stock activity and other issuances | 29 | 23 | 26 |
| Payments related to employee shares withheld for taxes | (72) | (78) | (61) |
| Default funds and margin deposits | 22 | 2,440 | 2,330 |
| Other financing activities | (1) | 1 | 7 |
| Net cash provided by financing activities | 4,220 | 1,036 | 1,418 |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents | 202 | (1,293) | (331) |
| Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents | 124 | 1,498 | (483) |
| Cash and cash equivalents, restricted cash and cash equivalents at beginning of period | 6,994 | 5,496 | 5,979 |
| Cash and cash equivalents, restricted cash and cash equivalents at end of period | $7,118 | $6,994 | $5,496 |
| Reconciliation of Cash, Cash Equivalents and Restricted Cash and Cash Equivalents | |||
| Cash and cash equivalents | $453 | $502 | $393 |
| Restricted cash and cash equivalents | 20 | 22 | 29 |
| Restricted cash and cash equivalents (default funds and margin deposits) | 6,645 | 6,470 | 5,074 |
| Total | $7,118 | $6,994 | $5,496 |
| Supplemental Disclosure Cash Flow Information | |||
| Interest paid | $177 | $116 | $118 |
| Income taxes paid, net of refund | $254 | $274 | $501 |
(1) 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."
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.