CBOE · 10-Q · 2026Q3 · Full report
Balance Sheet and Liquidity
Cboe Global Markets, Inc. · 2026-10-30 · Importance 37 · Surprise 6 · From source text
At September 30, 2026, Cboe reported $2,662.6 million of cash and cash equivalents and $57.4 million of cash included in assets held for sale; adjusted cash was $2,720.5 million. Total debt was $1,444.3 million, consisting principally of $650.0 million of 3.650% Senior Notes, $500.0 million of 1.625% Senior Notes, and $300.0 million of 3.000% Senior Notes. The company had $400.0 million available under its revolving credit facility, with the option to seek another $200.0 million in commitments, and approximately $3.1 billion available including adjusted cash, net of $189.0 million in minimum regulatory capital requirements. The 3.650% Senior Notes mature in January 2027, and the Cboe Clear Europe Credit Facility was expected to terminate within the following year; the company stated it might not be able to refinance or replace these facilities on commercially reasonable terms.
Key facts
- Together with adjusted cash, Cboe had approximately $3.1 billion available to fund operations, capital expenditures, potential acquisitions, debt repayments and dividends, net of minimum regulatory capital requirements of $189.0 million, as of September 30, 2026. source
- Cash and cash equivalents held in the United States were $2,232.9 million at September 30, 2026, compared with $1,792.1 million at December 31, 2025. source
- Cash and cash equivalents were $2,662.6 million as of September 30, 2026, compared with $1,496.7 million as of September 30, 2025. source
- Restricted cash and cash equivalents included in margin deposits, default fund and interoperability fund were $2,988.8 million as of September 30, 2026, compared with $1,639.8 million as of September 30, 2025. source
- Adjusted cash was $2,720.5 million as of September 30, 2026, compared with $2,216.8 million as of December 31, 2025. source
- Total debt was $1,444.3 million as of September 30, 2026, compared with $1,442.9 million as of December 31, 2025. source
- Cash and cash equivalents increased $446.1 million from December 31, 2025 to September 30, 2026. source
- Cash and cash equivalents held outside the United States, including cash within assets held for sale, were $487.1 million at September 30, 2026, compared with $424.4 million at December 31, 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | +12.0% | Restricted cash and cash equivalents included in margin deposits, default fund and interoperability fund were $2,988.8 million as of… |
| cash | positive | realized | +10.4% | Cash and cash equivalents were $2,662.6 million as of September 30, 2026, compared with $1,496.7 million as of September 30, 2025. |
| cash | positive | realized | +4.5% | Adjusted cash was $2,720.5 million as of September 30, 2026, compared with $2,216.8 million as of December 31, 2025. |
| cash | positive | realized | +3.9% | Cash and cash equivalents held in the United States were $2,232.9 million at September 30, 2026, compared with $1,792.1 million at… |
| liability | negative | realized | -0.0% | Total debt was $1,444.3 million as of September 30, 2026, compared with $1,442.9 million as of December 31, 2025. |