Nasdaq said that in 2023, net of cash acquired in the Adenza acquisition, it used cash in investing activities of $5,766 million. In financing activities, it said it raised $5,608 million, net of issuance costs, from the issuance of senior unsecured notes and the 2023 Term Loan.

1. 01

   Nasdaq said that in 2023, net of cash acquired in the Adenza acquisition, it used cash in investing activities of $5,766 million. In financing activities, it said it raised $5,608 million, net of issuance costs, from the issuance of senior unsecured notes and the 2023 Term Loan.

2. 02

   The company said that operating cash flow excluding the impact of the Adenza acquisition decreased by $10 million in 2023 compared with 2022. It attributed $(129) million to changes in working capital and the timing of payments and receipts, and said that the increase in net income, adjusted for non-cash operating items, was $119 million.

3. 03

   Nasdaq said that in 2023, financing activities included shareholder dividend payments of $441 million, net commercial paper repayments of $371 million, common stock repurchases of $269 million, and partial repayment of the 2023 Term Loan of $260 million.

4. 04

   The company cited the increase in headcount as the reason for higher compensation expense. It said its headcount rose from 6,377 employees at the end of 2022 to 8,525 employees at the end of 2023, mainly due to the Adenza acquisition. It also recognized impairment and exit-related costs of $18 million related to abandoning leased office space.

Key figures

Fiscal year ended December 31, 2023

Revenue

$6.1B

Operating income

$1.6B

Net income

$1.1B

EPS

$2.08

Gross profit

$3.9B

Operating cash flow

$1.7B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.