Intercontinental Exchange Inc
For the period ended Dec 31, 2023. Filed Feb 8, 2024.
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FY2023 · Filed Feb 8, 2024
ICE$176.36+1.3%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
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities: | |||
| Net income | $2,438 | $1,498 | $4,069 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 1,215 | 1,031 | 1,009 |
| Stock-based compensation | 257 | 155 | 188 |
| Deferred taxes | (329) | (593) | 537 |
| Fair value loss on promissory note | 160 | — | — |
| Gain on deconsolidation of Bakkt | — | — | (1,419) |
| (Gains)/losses on sale of investments | 4 | (41) | (1,261) |
| Net losses from and impairment of unconsolidated investees | 122 | 1,340 | 42 |
| Other | 63 | 41 | 45 |
| Changes in assets and liabilities: | |||
| Customer accounts receivable | (71) | 20 | (5) |
| Other current and non-current assets | (41) | (196) | (100) |
| Section 31 fees payable | (144) | 166 | (150) |
| Deferred revenue | (16) | (27) | 34 |
| Other current and non-current liabilities | (116) | 160 | 134 |
| Total adjustments | 1,104 | 2,056 | (946) |
| Net cash provided by operating activities | 3,542 | 3,554 | 3,123 |
| Investing activities: | |||
| Capital expenditures | (190) | (225) | (179) |
| Capitalized software development costs | (299) | (257) | (273) |
| Cash paid for acquisitions, net of cash acquired | (10,198) | (59) | (66) |
| Purchases of equity and equity method investments | (8) | (73) | (117) |
| Proceeds from the sales of equity investments | 187 | 741 | 1,237 |
| Purchases of restricted investments | (1,312) | — | — |
| Proceeds from restricted investments | 641 | — | — |
| Proceeds from/(purchases of) other investments, net | (4) | 2 | 1 |
| Purchases of invested margin deposits | (1,588) | (6,935) | (5,050) |
| Proceeds from sales of invested margin deposits | 3,974 | 7,483 | 3,661 |
| Net cash used in investing activities | (8,797) | 677 | (786) |
| Financing activities: | |||
| Proceeds from debt offerings, net | 2,400 | 7,891 | — |
| Repayments of debt | (2,286) | (2,705) | (1,246) |
| Proceeds from/(redemption of) commercial paper, net | 1,954 | (1,012) | (1,393) |
| Repurchases of common stock | — | (632) | (250) |
| Dividends to stockholders | (955) | (853) | (747) |
| Change in cash and cash equivalent margin deposits and guaranty funds liability | (65,396) | (4,493) | 65,697 |
| Payments relating to treasury shares received for restricted stock tax payments and stock option exercises | (78) | (73) | (70) |
| Other | 16 | 36 | 35 |
| Net cash (used in)/provided by financing activities | (64,345) | (1,841) | 62,026 |
| Effect of exchange rate changes on cash, cash equivalents, restricted cash and cash equivalents, and cash and cash equivalent margin deposits and guaranty funds | 7 | (23) | (6) |
| Net (decrease)/increase in cash, cash equivalents, restricted cash and cash equivalents, and cash and cash equivalent margin deposits and guaranty funds | (69,593) | 2,367 | 64,357 |
| Cash, cash equivalents, restricted cash and cash equivalents and cash and cash equivalent margin deposits and guaranty funds at beginning of year | 150,343 | 147,976 | 83,619 |
| Cash, cash equivalents, restricted cash and cash equivalents and cash and cash equivalent margin deposits and guaranty funds at end of year | $80,750 | $150,343 | $147,976 |
| Supplemental cash flow disclosures: | |||
| Cash paid for income taxes | $909 | $882 | $1,057 |
| Cash paid for interest | $727 | $550 | $406 |
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