← NASDAQ, INC.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $108.0m $734.0m $458.0m $774.0m $933.0m $1.2b $1.1b $1.1b $1.1b $1.8b
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $108.0m $734.0m $458.0m — — — $1.1b $1.1b $1.1b $1.8b
Net Income (Loss) Attributable to Noncontrolling Interest $0 $0 — — — — ($2.0m) ($2.0m) ($2.0m) ($1.0m)
Depreciation, Depletion and Amortization $88.0m $96.0m $101.0m $89.0m $99.0m $108.0m $105.0m $117.0m $125.0m $145.0m
Amortization of Intangible Assets $82.0m $92.0m $109.0m $101.0m $103.0m $170.0m $153.0m $206.0m $488.0m $487.0m
Deferred Income Tax Expense (Benefit) ($136.0m) $10.0m $301.0m $35.0m $41.0m $94.0m $38.0m $68.0m ($67.0m) $48.0m
Share-based Payment Arrangement, Noncash Expense $86.0m $70.0m $69.0m $79.0m $87.0m $90.0m $106.0m $122.0m $141.0m $165.0m
Payment, Tax Withholding, Share-based Payment Arrangement — — — — — — — — — $69.0m
Share-based Payment Arrangement, Expense $86.0m $70.0m $69.0m $79.0m $87.0m $90.0m $106.0m $122.0m $141.0m $165.0m
Equity Method Investment, Other than Temporary Impairment — — — — — — — $0 $0 $0
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount — — $0 $0 $0 $0 $0 $0 $0 —
Goodwill, Impairment Loss $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Impairment of Intangible Assets, Finite-lived — — — $0 $0 $0 $0 $0 $0 $0
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) — $0 $0 $0 $0 $0 $0 $0 $0 $0
Operating Lease, Impairment Loss — — — — — — — $13.0m $0 $0
Restructuring Costs and Asset Impairment Charges $8.0m — — $25.0m $14.0m — — $12.0m $37.0m $1.0m
Gain (Loss) on Disposition of Business — — $33.0m $27.0m $0 $84.0m $0 $0 — $86.0m
Gain (Loss) on Extinguishment of Debt — — — — ($36.0m) ($33.0m) ($16.0m) — — ($18.0m)
Income (Loss) from Equity Method Investments $2.0m $15.0m $18.0m $84.0m $70.0m $52.0m $31.0m ($7.0m) $16.0m $83.0m
Income Tax Expense (Benefit) $28.0m $146.0m $606.0m $245.0m $279.0m $347.0m $352.0m $344.0m $334.0m $358.0m
Interest Expense Nonoperating — — — — — — — — $414.0m $367.0m
Other Nonoperating Income (Expense) — — — — — — $2.0m ($1.0m) $21.0m ($27.0m)
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Other Operating Assets $18.0m ($261.0m) $40.0m $173.0m ($26.0m) $140.0m ($98.0m) ($9.0m) $50.0m $96.0m
Accretion Expense — — — — — — — — — $2.0m
General and Administrative Expense $72.0m $82.0m $120.0m $125.0m $142.0m $85.0m $125.0m $113.0m $109.0m $75.0m
Goodwill $6.0b $6.6b $6.4b $6.4b $6.8b $8.4b $8.1b $14.1b $14.0b $14.4b
Investment Income, Interest $5.0m $7.0m $10.0m $10.0m $4.0m $1.0m $7.0m $115.0m $28.0m $39.0m
Noncash Merger Related Costs $0 — — — — — — — — —
Operating Expenses $1.4b $1.4b $1.5b $1.5b $1.7b $2.0b $2.0b $2.3b $2.9b $2.9b
Proceeds from Stock Options Exercised $41.0m $24.0m $3.0m $2.0m $2.0m $1.0m — — — —
Restructuring Costs — $0 — — — — — — — —
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement — — — — — — — ($9.0m) — —
Net Cash Provided by (Used in) Operating Activities $722.0m $909.0m $1.0b $963.0m $1.3b $1.1b $1.7b $1.7b $1.9b $2.3b
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $134.0m $144.0m $111.0m $127.0m $188.0m $163.0m $152.0m $158.0m $207.0m $266.0m
Payments to Acquire Businesses, Net of Cash Acquired $1.5b $776.0m $101.0m $206.0m $157.0m $2.4b $41.0m $5.8b $0 $0
Gain (Loss) on Sale of Investments — — $118.0m $0 $0 — — — — —
Payments for (Proceeds from) Other Investing Activities $6.0m $2.0m — $14.0m $27.0m $87.0m ($33.0m) $3.0m $32.0m $78.0m
Net Cash Provided by (Used in) Investing Activities ($1.7b) ($890.0m) $196.0m ($240.0m) ($231.0m) ($2.7b) $49.0m ($6.0b) ($953.0m) ($1.1b)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt $2.5b $653.0m $0 $680.0m $3.8b $826.0m $539.0m $5.6b $0 $0
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale $19.0m $30.0m — — — — — — — —
Repayments of Long-term Debt $1.2b $708.0m $115.0m $1.2b $1.5b $804.0m $1.1b $260.0m $521.0m $826.0m
Proceeds from Issuance of Common Stock $54.0m $53.0m $17.0m $37.0m $50.0m — — $29.0m — —
Payments for Repurchase of Common Stock $100.0m $203.0m $394.0m $200.0m $222.0m — — $269.0m $145.0m $616.0m
Payments of Ordinary Dividends, Common Stock $200.0m $243.0m $280.0m $305.0m $320.0m $350.0m $383.0m $441.0m $541.0m $601.0m
Payments of Dividends $200.0m $243.0m $280.0m $305.0m $320.0m $350.0m $383.0m $441.0m $541.0m $601.0m
Proceeds from (Payments for) Other Financing Activities ($3.0m) $0 $0 — $3.0m $7.0m $1.0m ($1.0m) $27.0m $43.0m
Net Cash Provided by (Used in) Financing Activities $1.0b ($53.0m) ($1.0b) ($937.0m) $1.4b $1.4b $1.0b $4.2b ($2.6b) ($3.0b)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($6.0m) $15.0m ($10.0m) ($10.0m) $16.0m ($331.0m) ($1.3b) $202.0m ($537.0m) $726.0m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect ($6.0m) ($19.0m) $187.0m ($224.0m) $2.4b ($483.0m) $1.5b $124.0m ($2.1b) ($1.1b)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($6.0m) $399.0m $586.0m $362.0m $2.8b $5.5b $7.0b $7.1b $5.0b $3.9b
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities $119.0m $129.0m $148.0m $120.0m $97.0m $118.0m $116.0m $177.0m $405.0m $354.0m
Income Taxes Paid, Net $191.0m $154.0m $221.0m $205.0m $290.0m $501.0m $274.0m $254.0m $358.0m $373.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.