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IntercontinentalExchange Reports Record 2012 Earnings and Revenues; Net Income Attributable to ICE Up 8% to $552 Million on

IntercontinentalExchange Reports Record 2012 Earnings and Revenues; Net Income
 Attributable to ICE Up 8% to $552 Million on Revenues of $1.36 Billion; 4Q12
       Adjusted Diluted EPS of $1.84, Up 5% on $323 Million in Revenues

PR Newswire

ATLANTA, Feb. 6, 2013

ATLANTA, Feb. 6, 2013 /PRNewswire/ --IntercontinentalExchange (NYSE: ICE), a
leading operator of global markets and clearing houses, today reported
financial results for fourth quarter and full year 2012. Consolidated net
income attributable to ICE for the quarter grew 2% to $129 million on
consolidated revenues of $323 million, down 1% compared to the prior fourth
quarter. Diluted earnings per share (EPS) in the quarter increased 2% to
$1.76.

For the fourth quarters ended December 31, 2012 and 2011, certain items were
included in ICE's operating results that are not indicative of our core
business performance, including transaction costs related to ICE's proposed
acquisition of NYSE Euronext. Excluding these items, fourth quarter 2012
adjusted net income attributable to ICE increased 5% to $135 million and
adjusted diluted EPS grew 5% to $1.84. Please refer to the reconciliation of
non-GAAP financial measures included in this press release for more
information on adjusted net income attributable to ICE and adjusted diluted
EPS.

For the year ended December 31, 2012, ICE reported a 3% increase over 2011 in
consolidated revenues to $1.36 billion, the ninth consecutive year of record
revenues. Consolidated 2012 net income attributable to ICE rose 8% to a record
$552 million, and diluted EPS increased 9% to $7.52 for the year. Consolidated
cash flow from operations grew 3% to a record $733 million in 2012.

ICE Chairman and CEO Jeffrey C. Sprecher said: "We made tremendous strides
operationally and strategically in 2012, again delivering on industry
requirements amid continued regulatory change, including helping to bring
greater regulatory certainty to our customers and markets. At the same time,
we delivered record financial results and growth on top of growth, while
investing to position our company for the many opportunities ahead. I want to
thank and recognize our team for their continued leadership in serving our
customers and driving results for our shareholders."

Scott Hill, ICE SVP and CFO said: "As the needs of our customers evolve, they
increasingly rely upon our markets to manage risk and comply with regulatory
requirements. We are expanding our services to meet their needs while also
investing prudently for best in class growth and returns. As we look to 2013,
we continue our strong commitment to growth and innovation."

Fourth Quarter 2012 Results

Fourth quarter 2012 consolidated revenues were $323 million, a 1% decline from
the prior fourth quarter. Transaction and clearing fee revenues totaled $277
million in the fourth quarter of 2012, down 4% compared to the same period of
2011. Average daily volume (ADV) in ICE's futures business was 3.1 million
contracts, down 1% from the fourth quarter of 2011^(1). Revenues from ICE's
credit default swap (CDS) trade execution, processing and clearing business
were $36 million in the quarter, down 14% from the fourth quarter of 2011, and
included $19 million in CDS clearing revenues.

Consolidated market data revenues increased 14% from the fourth quarter of
2011 to $37 million, and consolidated other revenues were $9 million.

Consolidated operating expenses were $131 million in the fourth quarter, down
1% from the prior fourth quarter. Consolidated operating income was slightly
down from the fourth quarter of 2011 at $192 million. Operating margin was
59%, and the effective tax rate for the quarter was 28%.

Full-Year 2012 Results

For the year ended December 31, 2012, consolidated revenues increased 3% to
$1.36 billion. Consolidated transaction and clearing fee revenues totaled
$1.19 billion in 2012, up 1% year-over-year. Futures volume and ADV for the
year grew 10% to 847 million contracts and 3.4 million contracts, respectively
^(1). ICE Futures Europe established its fifteenth consecutive annual volume
record. ICE Futures Canada also established a new volume record. ICE Brent
crude futures volume reached a record in 2012 and became the world's largest
crude oil futures contract in terms of ADV.

Revenues from ICE's CDS execution and clearing businesses totaled $144
million, comprised of $78 million from Creditex and $66 million from global
CDS clearing. Through February 1, 2013, ICE's CDS clearing houses have cleared
$37 trillion in gross notional value, including more than $10 trillion cleared
during 2012.

Consolidated market data revenues increased 17% to a record $147 million in
2012.

Consolidated operating expenses were flat at $536 million in 2012.
Consolidated operating income grew 4% to $827 million. Operating margin rose
to 61% for 2012 from 60% in 2011. 2012 diluted EPS increased 9% over 2011 to
$7.52.

The effective tax rates for 2012 and 2011 were 29% and 31%, respectively.

Consolidated cash flow from operations grew 3% to $733 million. Capital
expenditures were $32 million in 2012, and capitalized software development
costs were $35 million.

Unrestricted cash and cash equivalents were $1.61 billion as of December 31,
2012. At the end of 2012, ICE had $1.13 billion in outstanding debt.

Expense Guidance and Additional Information

  oICE expects 2013 adjusted consolidated expenses to increase in the range
    of 3% to 5% from 2012 adjusted consolidated expenses.
  oICE expects acquisition-related transaction costs for 1Q13 in the range of
    $10 million to $12 million, primarily relating to the NYSE Euronext
    transaction, which will be excluded from non-GAAP results.
  oICE expects 2013 operational capital expenditures and capitalized software
    development costs to be in the range of $60 million to $70 million.
  oIn addition, ICE expects to make $20 million to $30 million in capital
    expenditures related to real estate costs due to consolidating multiple
    locations in New York.ICE expects duplicate rent expenses and lease
    termination costs in the range of $4 million to $5 million in both1Q13
    and 2Q13, which will be excluded from non-GAAP results.
  oICE expects depreciation and amortization expense for 2013 in the range of
    $135 million to $140 million.
  oICE expects quarterly interest expense for 2013 to be in the range of $9
    million to $10 million.
  oICE's consolidated tax rate is expected to be in the range of 27% to 30%
    for 2013.
  oICE's diluted share count for the first quarter of 2013 is expected to be
    in the range of 72.6 million to 73.8 million weighted average shares
    outstanding, and the diluted share count for fiscal year 2013 is expected
    to be in the range of 72.8 million to 74.0 million weighted average shares
    outstanding.

Earnings Conference Call Information

ICE will hold a conference call today, February 6, at 8:30 a.m. ET to review
its full year and fourth quarter 2012 financial results. A live audio webcast
of the earnings call will be available on the company's website at
www.theice.comunder About ICE/Investors & Media. Participants may also listen
via telephone by dialing 877-674-6420 from the United States, or 708-290-1370
from outside the United States. Telephone participants should call 10 minutes
prior to the start of the call. The call will be archived on the company's
website for replay.

Historical futures volume and OTC commission data can be found at:
http://ir.theice.com/supplemental.cfm

^(1) Volume, for the current and prior-year periods, has been adjusted to
include OTC swap contracts that were transitioned to energy futures contracts
on October 15, 2012.

About IntercontinentalExchange
IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated
exchanges and clearing houses serving the risk management needs of global
markets for agricultural, credit, currency, emissions, energy and equity index
products. ICE serves customers in more than 70 countries. www.theice.com

The following are trademarks of IntercontinentalExchange, Inc. and/or its
affiliated companies: IntercontinentalExchange, ICE, ICE and block design, ICE
Futures Europe, ICE Clear Europe, ICE Clear Canada, ICE Clear US, ICE Clear
Credit, ICE Futures U.S., and ICE OTC. All other trademarks are the property
of their respective owners. For more information regarding registered
trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated
companies, see https://www.theice.com/terms.jhtml

Forward-Looking Statements
This press release may contain "forward-looking statements" made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Statements regarding IntercontinentalExchange's business that are not
historical facts are forward-looking statements that involve risks,
uncertainties and assumptions that are difficult to predict. These statements
are not guarantees of future performance and actual outcomes and results may
differ materially from what is expressed or implied in any forward-looking
statement. The factors that might affect our performance include, but are not
limited to: our business environment and industry trends; conditions in global
financial markets; domestic and international economic conditions; volatility
in commodity prices and price volatility of financial contracts such as equity
indexes and foreign exchange; our ability to complete the acquisition of NYSE
Euronext and to do so in a timely manner, realize the anticipated benefits
within the expected time frame, and efficiently integrate NYSE Euronext's
operations; changes in laws and regulations; increasing competition and
consolidation in our industry; our ability to identify and effectively pursue
acquisitions and strategic alliances and successfully integrate the companies
we acquire on a cost-effective basis; the success of our clearing houses and
our ability to minimize the risks associated with operating multiple clearing
houses in multiple jurisdictions; technological developments, including
ensuring that the technology we utilize is not vulnerable to security risks;
the accuracy of our cost estimates and expectations, including, without
limitation, those set forth in this press release under "Guidance and
Additional Information"; our belief that cash flows will be sufficient to
service our debt and fund our working capital needs and capital expenditures
for the foreseeable future; our ability to develop new products and services
on a timely and cost-effective basis; leveraging our risk management
capabilities; maintaining existing market participants and attracting new
ones; protecting our intellectual property rights; not violating the
intellectual property rights of others; potential adverse litigation results;
our belief in our electronic platform and disaster recovery system
technologies; and identification of trends and how they will impact our
business. For a discussion of such risks and uncertainties, which could cause
actual results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC) filings,
including, but not limited to, the risk factors in ICE's most recent Annual
Report on Form 10-K for the year ended December 31, 2012, as filed with the
SEC on February 6, 2013. These filings are also available in the Investors &
Media section of our website. Although we believe that the expectations
reflected in the forward-looking statements are reasonable, we cannot
guarantee future results, levels of activity, performance or achievements. We
caution you not to place undue reliance on these forward-looking statements.
Any forward-looking statement speaks only as of the date on which such
statement is made, and we undertake no obligation to update any
forward-looking statement or statements to reflect events or circumstances
after the date on which such statement is made or to reflect the occurrence of
an unanticipated event. New factors emerge from time to time, and it is not
possible for management to predict all factors that may affect our business
and prospects. Further, management cannot assess the impact of each factor on
the business or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in any
forward-looking statements.

IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND WHERE TO FIND IT

This press release does not constitute an offer to sell or the solicitation of
an offer to buy any securities or a solicitation of any vote or approval. In
connection with its proposed acquisition of NYSE Euronext, ICE has filed with
the SEC a registration statement on Form S−4, which includes a preliminary
joint proxy statement/prospectus with respect to the proposed transaction. The
final joint proxy statement/prospectus will be delivered to the stockholders
of ICE and NYSE Euronext. INVESTORS AND SECURITY HOLDERS OF BOTH ICE AND NYSE
EURONEXT ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE
PROPOSED TRANSACTION CAREFULLY AND IN ITS ENTIRETY, INCLUDING ANY DOCUMENTS
PREVIOUSLY FILED WITH THE SEC AND INCORPORATED BY REFERENCE INTO THE JOINT
PROXY STATEMENT/PROSPECTUS, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE
DOCUMENTS, BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION REGARDING ICE, NYSE
EURONEXT AND THE PROPOSED TRANSACTION. Investors and security holders may
obtain a free copy of the joint proxy statement/prospectus, as well as other
filings containing information about ICE and NYSE Euronext, without charge, at
the SEC's website at http://www.sec.gov. Investors may also obtain these
documents, without charge, from ICE's website at http://www.theice.com and
from NYSE Euronext's website at http://www.nyx.com.

PARTICIPANTS IN THE MERGER SOLICITATION

ICE, NYSE Euronext and their respective directors, executive officers and
other members of management and employees may be deemed to be participants in
the solicitation of proxies in respect of the transactions described in the
Agreement and Plan of Merger, dated as of December 20, 2012, by and among ICE,
NYSE Euronext and Baseball Merger Sub LLC. You can find information about ICE
and ICE's directors and executive officers in ICE's Annual Report on Form 10-K
for the year ended December 31, 2012, as filed with the SEC on February 6,
2013, and ICE's proxy statement for its 2012 annual meeting of stockholders,
as filed with the SEC on March 30, 2012. You can find information about NYSE
Euronext and NYSE Euronext's directors and executive officers in NYSE
Euronext's Annual Report on Form 10-K for the year ended December 31, 2011, as
filed with the SEC on February 29, 2012, and NYSE Euronext's proxy statement
for its 2012 annual meeting of stockholders, filed with the SEC on March 26,
2012. Additional information about the interests of potential participants is
included in the joint proxy statement/prospectus, and the other relevant
documents filed by ICE and NYSE Euronext with the SEC.



Consolidated Statements of Income
(In thousands, except per share amounts)
                                                            Three Months Ended
                                    Year Ended December 31,
                                                            December 31,
                                    2012        2011        2012      2011
Revenues:                                                   (Unaudited)
Transaction and clearing fees,      $1,185,195  $1,176,367  $277,138  $287,307
net
Market data fees                    146,789     124,956     37,285    32,625
Other                               30,981      26,168      8,948     7,283
Total revenues                      1,362,965   1,327,491   323,371   327,215
Operating expenses:
 Compensation and benefits        251,152     250,601     56,556    62,650
 Technology and communication     45,764      47,875      11,229    11,989
 Professional services            33,145      34,831      7,404     9,861
 Rent and occupancy               19,329      19,066      4,785     5,138
 Acquisition-related transaction  19,359      15,624      9,365     864
costs
 Selling, general and             36,699      34,180      8,119     8,716
administrative
 Depreciation and amortization    130,502     132,252     33,547    33,189
Total operating expenses            535,950     534,429     131,005   132,407
Operating income                    827,015     793,062     192,366   194,808
Other income (expense):
Interest and investment income      1,626       2,489       612       270
Interest expense                    (38,902)    (34,533)    (9,790)   (10,910)
Other income (expense), net         (47)        (1,009)     206       (190)
Total other expense, net            (37,323)    (33,053)    (8,972)   (10,830)
Income before income taxes          789,692     760,009     183,394   183,978
Income tax expense                  227,955     238,268     50,841    53,711
Net income                          $ 561,737   $ 521,741   $132,553  $130,267
Net income attributable to
noncontrolling                      (10,161)    (12,068)    (3,081)   (3,494)

interest
Net income attributable to          $ 551,576   $ 509,673   $129,472  $126,773
IntercontinentalExchange, Inc.
Earnings per share attributable to
IntercontinentalExchange, Inc.
common

shareholders:
Basic                               $7.59       $6.97       $1.78     $1.75
Diluted                             $7.52       $6.90       $1.76     $1.73
Weighted average common shares

 outstanding:
Basic                               72,712      73,145      72,662    72,582
Diluted                             73,366      73,895      73,449    73,414



Consolidated Balance Sheets
(In thousands)
                                                     December31,
                                                     2012         2011
ASSETS
Current assets:
Cash and cash equivalents                            $ 1,612,195  $ 822,949
Short-term restricted cash                           86,823       52,982
Customer accounts receivable, net                    127,260      136,331
Margin deposits and guaranty funds                   31,882,493   31,555,831
Prepaid expenses and other current assets            41,316       37,298
Total current assets                                 33,750,087   32,605,391
Property and equipment, net                          143,392      130,962
Other noncurrent assets:
 Goodwill                                         1,937,977    1,902,984
Other intangible assets, net                         798,960      854,374
Long-term restricted cash                            162,867      164,496
Long-term investments                                391,345      451,136
Other noncurrent assets                              30,214       38,521
Total other noncurrent assets                        3,321,363    3,411,511
Total assets                                         $ 37,214,842 $ 36,147,864


LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued liabilities             $  70,206  $  65,964
Accrued salaries and benefits                        55,008       58,248
Current portion of licensing agreement               19,249       19,249
Current portion of long-term debt                    163,000      50,000
Income taxes payable                                 29,284       22,614
Margin deposits and guaranty funds                   31,882,493   31,555,831
Other current liabilities                            26,457       28,408
Total current liabilities                            32,245,697   31,800,314
Noncurrent liabilities:
Noncurrent deferred tax liability, net               216,141      235,889
Long-term debt                                       969,500      837,500
Noncurrent portion of licensing agreement            63,739       80,084
Other noncurrent liabilities                         43,207       31,736
Total noncurrent liabilities                         1,292,587    1,185,209
Total liabilities                                    33,538,284   32,985,523
EQUITY
IntercontinentalExchange, Inc. shareholders' equity:
Common stock                                         799          792
Treasury stock, at cost                              (716,815)    (644,291)
Additional paid-in capital                           1,903,312    1,829,181
Retained earnings                                    2,508,672    1,957,096
Accumulated other comprehensive loss                 (52,591)     (21,253)
Total IntercontinentalExchange, Inc. shareholders'   3,643,377    3,121,525
equity
Noncontrolling interest in consolidated subsidiaries 33,181       40,816
Total equity                                         3,676,558    3,162,341
Total liabilities and equity                         $ 37,214,842 $ 36,147,864

Non-GAAP Financial Measures and Reconciliation

Below we provide adjusted net income attributable to ICE and adjusted earnings
per share attributable to ICE common shareholders as additional information
regarding our operating results. We use these non-GAAP measures internally to
evaluate our performance and in making financial and operational decisions.
When viewed in conjunction with our U.S. generally accepted accounting
principles, or GAAP, results and the accompanying reconciliation, we believe
that our presentation of these measures provides investors with greater
transparency and supplemental data relating to our financial condition and
results of operations. In addition, we believe the presentation of these
measures is useful to investors for period-to-period comparison of results
because the items described below are not reflective of our core business
performance. These financial measures are not in accordance with, or an
alternative to, GAAP financial measures and may be different from non-GAAP
measures used by other companies. Investors should not rely on any single
financial measure when evaluating our business. We strongly recommend that
investors review the GAAP financial measures included in our Annual Report on
Form 10-K, including our consolidated financial statements and the notes
thereto.

Adjusted net income attributable to ICE for the periods presented below is
calculated by adding net income attributable to ICE, the adjustments described
below, and the related income tax effect. The adjustments to net income
attributable to ICE, including the transaction costs ICE has incurred in
connection with the proposed acquisition of NYSE Euronext, are not reflective
of our core business performance. For the year and three months ended December
31, 2011, we included all acquisition-related transaction costs as non-GAAP
adjustments. We now include acquisition-related transaction costs as part of
our core business expenses, except for those that are directly related to the
announcement, closing, financing or termination of a transaction. However, we
are including all of the acquisition-related transaction costs relating to our
current acquisition of NYSE Euronext as non-GAAP adjustments given the size of
the deal. The following table reconciles net income attributable to ICE to
adjusted net income attributable to ICE and calculates adjusted earnings per
share attributable to ICE common shareholders for the periods presented below:

                           Year Ended     Year Ended Three       Three Months
                                                     Months
                           December 31,   December   Ended       Ended
                                          31,
                           2012           2011       December 31, December 31,
                                                     2012         2011
                           (In thousands, except per share amounts)
Net income attributable to $551,576       $509,673   $ 129,472   $ 126,773
ICE
Add: Costs expensed                                            
related to the Credit
                           —              2,634      —            2,634
 Facilities
Add: NYSE Euronext
transaction costs and
banker                    9,174          4,250      9,174        —

fees related to other
transactions
Less: Income tax benefit
effect related to the      (3,497)        (919)      (3,497)      (919)
items above
Adjusted net income        $557,253       $515,638   $ 135,149   $ 128,488
attributable to ICE
Earnings per share
attributable to ICE common

shareholders:
Basic                      $     7.59 $      $        $    
                                          6.97       1.78         1.75
Diluted                    $     7.52 $      $        $    
                                          6.90       1.76         1.73
Adjusted earnings per
share attributable to ICE

common shareholders:
Adjusted basic             $     7.66 $      $        $    
                                          7.05       1.86         1.77
Adjusted diluted           $     7.60 $      $        $    
                                          6.98       1.84         1.75
Weighted average common
shares
outstanding:
Basic                      72,712         73,145     72,662       72,582
Diluted                    73,366         73,895     73,449       73,414

ICE-CORP

(Logo: http://photos.prnewswire.com/prnh/20090727/CL51999LOGO )

SOURCE IntercontinentalExchange

Website: http://www.theice.com
Contact: Media Contact - Brookly McLaughlin, Communications Director,
+1-312-836-6728, brookly.mclaughlin@theice.com, or Claire Miller,
Communications Director, +44 20 7065 7745, claire.miller@theice.com; Investor
Contact - Kelly Loeffler, VP Investor Relations & Corp. Communications,
+1-770-857-4726, kelly.loeffler@theice.com, or Melanie Skijus, Director of
Investor Relations, +1-770-857-2532, Melanie.skijus@theice.com
 
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