---

 

PRESS RELEASE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

●	ICE expects 2013 adjusted consolidated expenses to increase in the range of 1% to 2% compared to 2012 adjusted consolidated expenses, versus prior guidance of an increase in the range of 2% to 3%.

●	ICE’s diluted share count for the fourth quarter of 2013 is expected to be in the range of 73.2 million to 74.2 million weighted average shares outstanding.

●

The ICE Board of Directors declared a quarterly cash dividend of an aggregate $75 million for the fourth quarter of 2013, which is contingent on the closing of the NYSE Euronext acquisition, with a record date of December 16, 2013 and a payment date of December 31, 2013. The anticipated ex-dividend date will be December 12, 2013.

 

 

 

 

 

 

 

 

		Nine Months Ended September 30,								Three Months Ended September 30,
		2013				2012				2013				2012
Revenues:
Transaction and clearing fees, net		$	898,465			$	908,057			$	279,882			$	279,177
Market data fees			121,246				109,504				40,213				35,947
Other			41,666				22,033				17,776				8,063
Total revenues			1,061,377				1,039,594				337,871				323,187
Operating expenses:
Compensation and benefits			192,396				194,596				59,550				61,820
Technology and communications			36,124				34,535				12,927				11,073
Professional services			22,979				25,741				7,392				7,813
Rent and occupancy			22,721				14,544				5,154				5,167
Acquisition-related transaction costs			32,387				9,994				6,073				2,285
Selling, general and administrative			28,229				28,580				10,238				8,114
Depreciation and amortization			99,625				96,955				34,391				32,864
Total operating expenses			434,461				404,945				135,725				129,136
Operating income			626,916				634,649				202,146				194,051
Other income (expense):
Interest and investment income			2,122				1,014				700				332
Interest expense			(29,751	)			(29,112	)			(9,902	)			(9,445	)
Other income (expense), net			1,258				(253	)			(389	)			(279	)
Total other expense, net			(26,371	)			(28,351	)			(9,591	)			(9,392	)
Income before income taxes			600,545				606,298				192,555				184,659
Income tax expense			160,459				177,114				47,511				50,552
Net income		$	440,086			$	429,184			$	145,044			$	134,107
Net income attributable to non-controlling interest			(10,006	)			(7,080	)			(3,729	)			(3,025	)
Net income attributable to IntercontinentalExchange, Inc.		$	430,080			$	422,104			$	141,315			$	131,082
Earnings per share attributable to IntercontinentalExchange, Inc. common shareholders:
Basic		$	5.91			$	5.80			$	1.94			$	1.80
Diluted		$	5.86			$	5.76			$	1.92			$	1.79
Weighted average common shares outstanding:
Basic			72,787				72,729				72,867				72,789
Diluted			73,370				73,339				73,525				73,411

 

 

 

		September 30, 2013				December 31, 2012
ASSETS
Current assets:
Cash and cash equivalents		$	1,537,266			$	1,612,195
Short-term investments			36,524				—
Short-term restricted cash and investments			161,645				86,823
Customer accounts receivable			175,826				127,260
Margin deposits and guaranty funds			43,440,692				31,882,493
Prepaid expenses and other current assets			37,654				41,316
Total current assets			45,389,607				33,750,087
Property and equipment, net			201,673				143,392
Other noncurrent assets:
Goodwill			1,961,606				1,937,977
Other intangible assets, net			803,915				798,960
Long-term restricted cash			160,751				162,867
Long-term investments			329,962				391,345
Other noncurrent assets			37,396				30,214
Total other noncurrent assets			3,293,630				3,321,363
Total assets		$	48,884,910			$	37,214,842
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued liabilities		$	94,530			$	70,206
Accrued salaries and benefits			42,638				55,008
Current portion of licensing agreement			19,249				19,249
Current portion of long-term debt			448,824				163,000
Income taxes payable			61,294				29,284
Margin deposits and guaranty funds			43,440,692				31,882,493
Other current liabilities			38,582				26,457
Total current liabilities			44,145,809				32,245,697
Noncurrent liabilities:
Noncurrent deferred tax liability, net			192,398				216,141
Long-term debt			341,765				969,500
Noncurrent portion of licensing agreement			52,189				63,739
Other noncurrent liabilities			66,691				43,207
Total noncurrent liabilities			653,043				1,292,587
Total liabilities			44,798,852				33,538,284
Redeemable non-controlling interest			15,388				—
EQUITY
IntercontinentalExchange, Inc. shareholders’ equity:
Common stock			804				799
Treasury stock, at cost			(740,365	)			(716,815	)
Additional paid-in capital			1,960,130				1,903,312
Retained earnings			2,938,752				2,508,672
Accumulated other comprehensive loss			(117,452	)			(52,591	)
Total IntercontinentalExchange, Inc. shareholders’ equity			4,041,869				3,643,377
Non-controlling interest in consolidated subsidiaries			28,801				33,181
Total equity			4,070,670				3,676,558
Total liabilities and equity		$	48,884,910			$	37,214,842

 

 

 

 

 

		Nine Months Ended September 30, 2013				Three Months Ended September 30, 2013
Net income attributable to ICE		$	430,080			$	141,315
Add: NYSE Euronext transaction costs and banker fee  relating to ICE Endex acquisition			30,794				5,353
Add: Duplicate rent expenses and lease termination costs			7,262				—
Less: Income tax benefit effect related to the items above			(13,843	)			(2,041	)
Adjusted net income attributable to ICE		$	454,293			$	144,627
Earnings per share attributable to ICE common shareholders:
Basic		$	5.91			$	1.94
Diluted		$	5.86			$	1.92
Adjusted earnings per share attributable to ICE common shareholders:
Adjusted basic		$	6.24			$	1.98
Adjusted diluted		$	6.19			$	1.97
Weighted average common shares outstanding:
Basic			72,787				72,867
Diluted			73,370				73,525