Cboe Results Presentation Deck
4Q20 Adjusted Operating Expenses Up 17%, Primarily Driven boe
by Acquisitions
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4Q expense increase primarily driven by addition of EuroCCP and other acquisitions:
$9 million increase in compensation-related expenses
$3 million increase in technology support services
$2 million increase in professional fees and outside services
Excluding acquisitions, adjusted operating expenses were up 4% in 4Q and down 2% for the year
Adjusted Operating Expenses¹
(in millions)
Compensation and benefits
Depreciation and amortization¹
Technology support services
Professional fees and outside services
Travel and promotional
Facilities costs
Other expenses
Total¹
4Q19
'Adjusted to reflect the impact of certain items. See Appendix for "Non-GAAP Information."
$49.0
9.4
11.9
15.4
3.6
3.2
3.1
$95.6
4Q20
$57.5
9.2
15.0
17.6
2.4
4.9
5.6
$112.2
% Chg
17%
-2%
26%
14%
-33%
53%
81%
17%
2019
$199.0
38.1
46.2
68.3
11.9
11.0
14.8
$389.3
2020
$224.9
33.8
54.5
60.6
6.6
17.6
17.5
$415.5
% Chg
13%
-11%
18%
-11%
-45%
60%
18%
7%
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