Cboe Global Markets, Inc. (CBOE) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
U.S. Equities					236.1
Futures	120.6	109.2	2.9	128.0	131.7	113.6	90.5
Options	124.0	1,046.3	983.1	42.9	97.3	51.6	586.1
European Equities				97.4	89.6
Other	3,250.2	2,271.6	1,510.1	2,500.5	1,674.4	537.9
Total revenues [+]	3,494.8	3,427.1	2,496.1	2,768.8	2,229.1	703.1	663.8	617.2
Other							19.5	14.6
Revenue growth [+]	2.0%	37.3%	-9.8%	24.2%	217.0%	5.9%	7.5%	7.9%
Futures	10.4%	3665.5%	-97.7%	-2.8%	15.9%	25.5%
Options	-88.1%	6.4%	2191.6%	-55.9%	88.6%	-91.2%
European Equities				8.7%
Global FX	511.4%	-85.1%	754.8%	-83.8%
Cost of goods sold [+]	2,018.7	2,172.8	1,359.2	1,551.9	1,233.5	136.7	102.1	193.6
Labor costs								121.7
Occupancy costs	22.2	17.6	11.0	11.5	10.3	5.7	5.0	5.7
Cost of licensing								66.1
Gross profit	1,476.1	1,254.3	1,136.9	1,216.9	995.6	566.4	561.7	423.7
Gross margin	42.2%	36.6%	45.5%	44.0%	44.7%	80.6%	84.6%	68.6%
Selling, general and administrative [+]	372.2	285.5	267.3	297.1	267.4	166.3	156.0	51.2
Sales and marketing							105.9
General and administrative [+]	372.2	285.5	267.3	297.1	267.4	166.3	50.1
Wages and related expenses	288.5	224.9	199.0	228.8	201.4	113.2	105.9
Professional fees	83.7	60.6	68.3	68.3	66.0	53.1	50.1	32.0
Other selling, general and administrative							105.9
Research and development	66.7	54.5	46.2	47.9	42.1	22.5	20.7
Equity in earnings								-4.2
Other operating expenses	48.3	48.4	61.1	38.5	37.6	21.4	18.8	18.8
EBITDA [+]	988.9	865.9	762.3	833.4	648.5	356.2	366.2	349.5
EBITDA growth	14.2%	13.6%	-8.5%	28.5%	82.1%	-2.7%	4.8%	9.9%
EBITDA margin	28.3%	25.3%	30.5%	30.1%	29.1%	50.7%	55.2%	56.6%
Depreciation	40.8	33.7	38.0	44.0	49.3	42.7	46.1	39.9
EBITA	948.1	832.2	724.3	789.4	599.2	313.5	320.1	309.6
EBITA margin	27.1%	24.3%	29.0%	28.5%	26.9%	44.6%	48.2%	50.2%
Amortization of intangibles	126.6	124.8	138.6	160.0	142.9	1.7	0.2
EBIT [+]	821.5	707.4	585.7	629.4	456.3	311.8	319.9	309.6
EBIT growth	16.1%	20.8%	-6.9%	37.9%	46.3%	-2.5%	3.3%	9.2%
EBIT margin	23.5%	20.6%	23.5%	22.7%	20.5%	44.3%	48.2%	50.2%
Non-recurring items	15.6	45.2	48.5	30.0	84.4	13.6
Interest expense, net [+]	47.4	37.6	35.9	38.2	41.3	5.7		-0.1
Interest expense	48.0	38.7	37.8	40.5	42.6	5.7
Interest income	0.6	1.1	1.9	2.3	1.3			0.1
Other income (expense), net [+]	-2.4	35.8	0.1	10.0	3.8	14.1	4.1
Other	-2.4	35.8	0.1	10.0	3.8	14.1	4.1	-4.1
Pre-tax income	756.1	660.4	501.4	571.2	334.4	306.6	324.0	309.7
Income taxes	227.1	192.2	130.6	146.0	-66.2	120.9	119.0	120.0
Tax rate	30.0%	29.1%	26.0%	25.6%		39.4%	36.7%	38.7%
Minority interest			-4.1	-1.3	-1.1	-1.1
Net income	527.3	467.0	372.7	422.1	396.7	184.9	204.1	188.4
Net margin	15.1%	13.6%	14.9%	15.2%	17.8%	26.3%	30.7%	30.5%

Basic EPS [+]	$4.93	$4.28	$3.35	$3.78	$3.70	$2.27	$2.46	$2.21
Growth	15.1%	27.9%	-11.4%	2.0%	62.9%	-7.5%	11.3%	10.8%
Diluted EPS [+]	$4.92	$4.27	$3.33	$3.76	$3.69	$2.27	$2.46	$2.21
Growth	15.1%	28.2%	-11.4%	1.9%	62.5%	-7.5%	11.3%	10.8%

Dividends per share [+]	$1.81	$1.56	$1.35	$1.17	$1.10	$0.96	$0.88	$1.30
Growth	15.5%	16.1%	15.5%	5.8%	14.2%	9.2%	-31.9%	94.2%

Shares outstanding (basic) [+]	107.0	109.1	111.4	111.8	107.2	81.4	83.1	85.4
Growth	-1.9%	-2.1%	-0.4%	4.3%	31.7%	-2.0%	-2.7%	-2.2%
Shares outstanding (diluted) [+]	107.2	109.3	111.8	112.2	107.5	81.4	83.1	85.4
Growth	-1.9%	-2.2%	-0.4%	4.4%	32.1%	-2.0%	-2.7%	-2.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.