INTERCONTINENTAL EXCHANGE, INC. ICE Cash Flow

Intercontinental exchange, inc. (ICE)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Operating activities:
Net income
2,126	1,960	2,126	2,054	2,038	2,020	2,640	2,552	2,517	2,554	1,682	1,655	1,591	1,457	1,463	1,423	1,349	1,295	1,216	1,119	1,065	1,016	552	484	407	270	0	0	0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11	-39	-29	-37	-50	0	0	0
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,005	591	513	444	320	0	0	0
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
661	662	630	620	606	586	560	540	539	535	544	597	601	610	568	481	428	374	365	354	342	333	300	252	204	156	0	0	0
Stock-based compensation
151	139	137	133	130	130	126	128	130	135	136	132	129	124	122	124	116	111	103	95	101	97	95	83	69	64	0	0	0
Deferred taxes
-8	-33	-23	-8	5	27	-714	-650	-688	-654	158	60	118	120	-25	-21	-54	-108	15	11	12	21	-58	-44	-41	-35	0	0	0
Cetip realized investment gain, net
-	-	-	-	-	-	-	-	-	-114	-114	-114	-176	0	23	23	12	0	0	0	0	-	-	-	-	-	-	-	-
Amortization of fair market value premium on NYSE Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Other
30	40	47	46	46	24	20	19	20	22	21	17	10	6	-1	-4	-1	17	38	44	51	46	-23	-30	-40	-51	0	0	0
Changes in assets and liabilities:
Customer accounts receivable
403	30	22	-8	12	44	101	113	154	135	130	78	76	65	71	111	152	45	-16	27	116	43	108	85	24	35	0	0	0
Other current and non-current assets
67	17	-1	3	-2	45	19	26	53	24	14	9	-17	-7	-7	1	-8	5	73	49	-7	-22	-92	-64	4	-7	0	0	0
Section 31 fees payable
28	-34	80	16	6	33	-16	31	34	2	-30	-42	-35	-14	44	69	47	21	-102	-90	-84	-52	0	0	0	-	-	-	0
Deferred revenue
7	-18	-9	-19	5	1	3	17	24	8	13	11	17	28	40	47	53	27	52	69	77	58	110	170	248	-31	0	0	0
Accrued salaries and benefits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Other current and non-current liabilities
-8	2	-17	100	56	25	65	-124	-230	-86	-201	-78	-41	-140	-178	-329	-300	-277	-191	-105	-15	19	-38	-95	-33	2	0	0	0
Total adjustments
399	699	554	625	576	513	-230	-330	-470	-469	369	490	572	692	466	221	94	16	215	268	324	458	590	729	657	394	0	0	0
Net cash provided by operating activities
2,525	2,659	2,680	2,679	2,614	2,533	2,410	2,222	2,047	2,085	2,051	2,145	2,163	2,149	1,929	1,644	1,443	1,311	1,431	1,397	1,391	1,463	1,484	1,400	1,101	714	0	0	0
Investing activities:
Capital expenditures
142	153	172	158	146	134	133	172	202	220	220	235	251	250	231	194	182	190	192	206	186	172	163	160	144	134	0	0	0
Capitalized software development costs
157	152	150	148	148	146	145	143	140	137	131	123	124	115	108	104	91	87	89	82	79	78	73	67	56	45	0	0	0
Cash paid for acquisitions, net of cash received for divestiture
582	352	447	1,193	865	1,246	1,565	818	801	423	0	0	0	-	-	-	0	-	-	-	-	577	2,342	2,342	2,339	2,241	0	0	0
Purchases of investments
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	331	-	42	39	67	161	111	140	87	75	0	0	0
Return of capital from equity method investment
16	60	44	44	44	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of cost and equity method investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	48	42	0	0	0
Purchases of equity investments
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from investments, net
0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from term deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	54	70	42	26	16	0	0	0
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5	60	60	60	0	0	0	0	-	-	-	-
Net cash used in investing activities
-856	-594	-650	-1,339	-1,040	-1,755	-1,732	-1,024	-619	92	-347	-260	-845	-860	-4,156	-4,205	-2,977	-3,004	393	-716	193	36	-1,916	-754	-2,648	-2,521	0	0	0
Financing activities:
Repayments of debt facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	377	2,890	3,224	2,403	2,464	0	0	0
Proceeds from (Repayments of) Commercial Paper
809	360	119	-748	-1,018	-283	1	872	497	-409	-2,400	-2,199	-1,609	-949	3,373	3,385	2,194	1,686	0	0	0	-	-	-	-	-	-	-	-
Repurchases of common stock
1,719	1,460	1,259	1,219	1,338	1,198	1,299	1,239	1,020	949	759	519	279	50	55	261	464	660	802	1,044	841	645	0	0	0	-	-	-	-
Payments of Ordinary Dividends, Common Stock
630	621	605	588	572	555	535	516	496	476	460	443	427	409	396	378	360	331	316	306	296	299	300	226	151	75	0	0	0
Proceeds from ICE to capitalize Company
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-
Payments relating to treasury shares received for restricted stock tax payments and stock option exercises
77	65	66	64	65	80	81	83	83	88	88	87	84	54	54	54	56	45	48	47	45	45	92	93	93	77	0	0	0
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Proceeds from exercise of common stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13	8	11	13	0	0	0
Acquisition of non-controlling interest and redeemable non-controlling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-	31	25	15	12	0	0	0
Purchase of subsidiary shares from non-controlling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	40	0	0	0
Other
39	23	34	26	15	4	0	0	-8	-9	-15	-11	-3	0	-22	-11	-12	10	15	14	0	-3	-43	-50	-44	-59	0	0	0
Net cash used in financing activities
-1,568	-1,753	-1,695	-944	-1,329	-463	-456	-951	-1,150	-1,971	-1,630	-1,752	-1,316	-1,462	2,302	2,580	1,547	1,976	-1,747	-2,023	-1,675	-1,673	-245	86	1,105	1,119	0	0	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents
-6	4	-8	-5	-12	-11	-2	2	13	12	-10	-12	-23	-24	-10	-13	-3	-14	-28	-33	-31	-21	18	23	20	18	0	0	0
Cash Provided by (Used in) Operating Activities, Discontinued Operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	51	0	0	0	-	-	-	-
Net increase in cash and cash equivalents from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Cash Provided by (Used in) Investing Activities, Discontinued Operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-504	0	0	0	-	-	-	-
Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents
95	316	327	391	233	304	220	249	291	218	64	121	-21	-197	65	6	10	269	49	-1,379	-212	-309	-753	666	-427	-651	0	0	0
Supplemental cash flow disclosure:
Cash paid for income taxes
606	557	566	483	467	533	507	511	673	594	609	614	469	460	485	584	547	542	492	356	343	338	320	320	215	198	0	0	0
Cash paid for interest
270	280	280	243	254	202	208	188	191	171	177	169	170	170	124	120	128	123	124	130	137	140	122	120	35	32	0	0	0