10-K/APeriod: FY2023

Intercontinental Exchange, Inc. Annual Report (Amendment), Year Ended Dec 31, 2023

Filed March 27, 2024For Securities:ICE

Summary

Intercontinental Exchange, Inc. (ICE) filed an Amendment No. 1 to its 2023 Form 10-K on March 26, 2024. This filing primarily serves to include additional exhibits and financial statements, notably the consolidated financial statements for Bakkt Holdings, Inc. for the year ended December 31, 2023, which are filed as Exhibit 99.1. Investors should note that the core financial statements and reports for ICE itself for the year ended December 31, 2023, were previously filed on February 8, 2024. This amendment also incorporates by reference a significant number of agreements, including the Agreement and Plan of Merger with Black Knight, Inc. (and its amendments), various indentures for senior notes, employment agreements for key executives, and credit agreements. These incorporated documents provide details on the company's capital structure, debt obligations, and executive compensation arrangements. While this amendment does not present new operating or financial performance data for ICE, it supplements the existing 10-K with crucial contractual and subsidiary financial information.

Financial Highlights

53 data points
Beta

Revenue

$9.90B

Net Income

$2.37B

23.9% Net Margin

EPS (Diluted)

$4.19

Total Assets

$136.08B

Cash & Equivalents

$899.00M

Free Cash Flow

$3.35B

Financial Statements
Beta
Revenue$9.90B
SG&A Expenses$266.00M
Operating Expenses$4.29B
Operating Income$3.69B
Interest Expense$808.00M
Net Income$2.37B
EPS (Basic)$4.20
EPS (Diluted)$4.19
Shares Outstanding (Basic)564.00M
Shares Outstanding (Diluted)565.00M

Key Highlights

  • 1This filing is an amendment (10-K/A) to the original 2023 Form 10-K, filed on March 26, 2024.
  • 2The amendment includes the consolidated financial statements for Bakkt Holdings, Inc. for the year ended December 31, 2023, as Exhibit 99.1.
  • 3Key merger agreements with Black Knight, Inc. (and amendments) are incorporated by reference, providing insight into significant corporate actions.
  • 4Numerous exhibits detail various debt instruments, including multiple series of Senior Notes and Credit Agreements, outlining ICE's financing structure.
  • 5Employment agreements for key executives and incentive plans are listed, offering transparency into executive compensation.
  • 6The filing incorporates by reference ICE's full consolidated financial statements for the year ended December 31, 2023, previously filed on February 8, 2024.

Frequently Asked Questions

This filing (Amendment No. 1 to the 2023 Form 10-K) primarily serves to add supplementary information, most notably the consolidated financial statements of Bakkt Holdings, Inc. for the year ended December 31, 2023. It also incorporates by reference a comprehensive list of agreements and other documents that provide further detail on the company's legal, financial, and operational structure.

No, this amendment does not present new or updated financial performance data for ICE itself for the fiscal year ended December 31, 2023. The primary financial statements and performance data for ICE were already included in the original Form 10-K filed on February 8, 2024. This amendment supplements that filing.

The incorporated exhibits detail a wide range of important agreements, including the merger agreement with Black Knight, Inc., various indentures related to senior notes with different maturity dates and coupon rates, multiple amendments to credit agreements governing the company's revolving and term loan facilities, and employment agreements for key executives. These documents provide critical information about the company's debt, financing, and executive compensation structure.

This amendment is primarily an exhibit filing and does not typically disclose new significant business developments in the narrative sections. However, the inclusion of the Bakkt Holdings, Inc. financial statements and the continued references to the Black Knight merger agreements and related financing documents provide context and updated information on these key strategic areas.