Nasdaq Q3 2024 10-Q Filed

TL;DR

Nasdaq's Q3 10-Q is in: debt structure includes notes due 2029-2033.

AI Summary

Nasdaq, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial instruments mentioned include various senior notes due in 2029, 2030, 2032, and 2033, indicating ongoing debt management and capital structure.

Why It Matters

This filing provides investors and analysts with the latest financial health and strategic direction of Nasdaq, Inc., a major player in the global financial markets.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Players & Entities

• NASDAQ, INC. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-10-29 (date) — Filing date
• FourPointFiveZeroZeroSeniorNotesDue2032 (dollar_amount) — Specific debt instrument
• ZeroPointNineZeroZeroSeniorUnsecuredNotesDue2033 (dollar_amount) — Specific debt instrument
• ZeroPointEightSevenFivePercentSeniorNotesDue2030 (dollar_amount) — Specific debt instrument
• OnePointSevenFivePercentSeniorNotesDue2029 (dollar_amount) — Specific debt instrument

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share NDAQ The Nasdaq Sto
• $1.25 billion — 10-Q. 2022 Revolving Credit Facility: $1.25 billion senior unsecured revolving credit facil
• $500 million — tures on December 16, 2027 2025 Notes: $500 million aggregate principal amount of 5.650% se
• $1 billion — ed notes due June 30, 2026 2028 Notes: $1 billion aggregate principal amount of 5.350% se
• $650 million — tes due February 13, 2030 2031 Notes: $650 million aggregate principal amount of 1.650% se
• $550 million — d notes due April 28, 2050 2052 Notes: $550 million aggregate principal amount of 3.950% se
• $750 million — ed notes due March 7, 2052 2053 Notes: $750 million aggregate principal amount of 5.950% se

Filing Documents

• ndaq-20240930.htm (10-Q) — 2354KB
• ndaq9302024ex-101.htm (EX-10.1) — 1041KB
• ndaq09302024ex-311.htm (EX-31.1) — 10KB
• ndaq09302024ex-312.htm (EX-31.2) — 9KB
• ndaq09302024ex-321.htm (EX-32.1) — 9KB
• ndaq-20240930_g1.jpg (GRAPHIC) — 89KB
• ndaq-20240930_g2.jpg (GRAPHIC) — 45KB
• ndaq-20240930_g3.jpg (GRAPHIC) — 46KB
• ndaq-20240930_g4.jpg (GRAPHIC) — 54KB
• ndaq-20240930_g5.jpg (GRAPHIC) — 53KB
• 0001120193-24-000019.txt ( ) — 14327KB
• ndaq-20240930.xsd (EX-101.SCH) — 89KB
• ndaq-20240930_cal.xml (EX-101.CAL) — 106KB
• ndaq-20240930_def.xml (EX-101.DEF) — 471KB
• ndaq-20240930_lab.xml (EX-101.LAB) — 916KB
• ndaq-20240930_pre.xml (EX-101.PRE) — 720KB
• ndaq-20240930_htm.xml (XML) — 2052KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Income 2 Condensed Consolidated Statements of Comprehensive Income 3 Condensed Consolidated Statements of Changes in Stockholders' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 29

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 46

Controls and Procedures

Item 4. Controls and Procedures 48

OTHER INFORMATION

Part II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 49 Item 1A.

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 49

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 49

Other Information

Item 5. Other Information 50

Exhibits

Item 6. Exhibits 50

SIGNATURES

SIGNATURES 51 i About this Form 10-Q Throughout this Form 10-Q, unless otherwise specified: "Nasdaq," "we," "us" and "our" refer to Nasdaq, Inc. "Nasdaq Baltic" refers to collectively, Nasdaq Tallinn AS, Nasdaq Riga, AS, and AB Nasdaq Vilnius. "Nasdaq BX" refers to the cash equity exchange operated by Nasdaq BX, Inc. "Nasdaq BX Options" refers to the options exchange operated by Nasdaq BX, Inc. "Nasdaq Clearing" refers to the clearing operations conducted by Nasdaq Clearing AB. "Nasdaq First North" refers to our alternative marketplaces for smaller companies and growth companies in the Nordic and Baltic regions. "Nasdaq GEMX" refers to the options exchange operated by Nasdaq GEMX, LLC. "Nasdaq ISE" refers to the options exchange operated by Nasdaq ISE, LLC. "Nasdaq MRX" refers to the options exchange operated by Nasdaq MRX, LLC. "Nasdaq Nordic" refers to collectively, Nasdaq Clearing AB, Nasdaq Stockholm AB, Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd, and Nasdaq Iceland hf. "Nasdaq PHLX" refers to the options exchange operated by Nasdaq PHLX LLC. "Nasdaq PSX" refers to the cash equity exchange operated by Nasdaq PHLX LLC. "The Nasdaq Options Market" refers to the options exchange operated by The Nasdaq Stock Market LLC. "The Nasdaq Stock Market" refers to the cash equity exchange and listing venue operated by The Nasdaq Stock Market LLC. Nasdaq also provides as a tool for the reader the following list of abbreviations and acronyms that are used throughout this Quarterly Report on Form 10-Q. 2022 Revolving Credit Facility: $1.25 billion senior unsecured revolving credit facility, which matures on December 16, 2027 2025 Notes: $500 million aggregate principal amount of 5.650% senior unsecured notes due June 28, 2025 2026 Notes: $500 million aggregate principal amount of 3.850% senior unsecured notes due June 30, 2026 2028 Notes: $1 billion aggregate principal amount of 5.350% senior unsecured notes due June 28, 2028 2029 Notes: 600 million ag

Forward-Looking Statements

Forward-Looking Statements The SEC encourages companies to disclose forward-looking information so that investors can better understand a company's future prospects and make informed investment decisions. This Quarterly Report on Form 10-Q contains these types of statements. Words such as "may," "will," "could," "should," "anticipates," "envisions," "estimates," "expects," "projects," "intends," "plans," "believes" and words or terms of similar substance used in connection with any discussion of future expectations as to industry and regulatory developments or business initiatives and strategies, future operating results or financial performance, and other future developments are intended to identify forward-looking statements. These include, among others, statements relating to: our strategic direction, including changes to our corporate structure; the integration of acquired businesses, including accounting decisions relating thereto; the scope, nature or impact of acquisitions, divestitures, investments, joint ventures or other transactional activities; the effective dates for, and expected benefits of, ongoing initiatives, including transactional activities and other strategic, restructuring, technology, ESG, de-leveraging and capital return initiatives; our products and services; the impact of pricing changes; tax matters; the cost and availability of liquidity and capital; and any litigation, or any regulatory or government investigation or action, to which we are or could become a party or which may affect us and any potential settlements of litigation, regulatory or governmental investigations or actions. Forward-looking statements involve risks and uncertainties. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include, among others, the following: our operating results may be lower than expected; our ability to successfully integrate acquired businesses or divest sold busine

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Nasdaq, Inc. Condensed Consolidated Balance Sheets (in millions, except share and par value amounts) September 30, 2024 December 31, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 266 $ 453 Restricted cash and cash equivalents 42 20 Default funds and margin deposits (including restricted cash and cash equivalents of $ 5,487 and $ 6,645 , respectively) 5,865 7,275 Financial investments 202 188 Receivables, net 944 929 Other current assets 239 231 Total current assets 7,558 9,096 Property and equipment, net 584 576 Goodwill 14,165 14,112 Intangible assets, net 7,072 7,443 Operating lease assets 388 402 Other non-current assets 793 665 Total assets $ 30,560 $ 32,294 Liabilities Current liabilities: Accounts payable and accrued expenses $ 289 $ 332 Section 31 fees payable to SEC 74 84 Accrued personnel costs 314 303 Deferred revenue 663 594 Other current liabilities 229 146 Default funds and margin deposits 5,865 7,275 Short-term debt 499 291 Total current liabilities 7,933 9,025 Long-term debt 9,359 10,163 Deferred tax liabilities, net 1,566 1,642 Operating lease liabilities 399 417 Other non-current liabilities 222 220 Total liabilities 19,479 21,467 Commitments and contingencies Equity Nasdaq stockholders' equity: Common stock, $ 0.01 par value, 900,000,000 shares authorized, shares issued: 598,541,046 at September 30, 2024 and 598,014,520 at December 31, 2023; shares outstanding: 574,742,353 at September 30, 2024 and 575,159,336 at December 31, 2023 6 6 Additional paid-in capital 5,477 5,496 Common stock in treasury, at cost: 23,798,693 shares at September 30, 2024 and 22,855,184 shares at December 31, 2023 ( 643 ) ( 587 ) Accumulated other comprehensive loss ( 1,952 ) ( 1,924 ) Retained earnings 8,184 7,825 Total Nasdaq stockholders' equity 11,072 10,816 Noncontrolling interests 9 11 Total equity 11,081 10,827 Total liabilities and equity $ 30,560 $ 32,294 See

View Full Filing

View this 10-Q filing on SEC EDGAR