10-K/A: Intercontinental Exchange Files Amendment to 2024 Form 10-K to Include Bakkt Financial Statements
10-K/A Filing
Intercontinental Exchange (ICE) files an amendment to its 2024 Form 10-K to include the financial statements of Bakkt Holdings, Inc. as required under SEC rules.
Summary
- Intercontinental Exchange, Inc. (ICE) is filing Amendment No. 1 on Form 10-K/A to amend Part IV, Item 15 of its 2024 Form 10-K.
- The amendment provides the financial statements of Bakkt Holdings, Inc. filed pursuant to Rule 3-09 of Regulation S-X.
- Bakkt was a significant equity investee under Rule 3-09 for the year ended December 31, 2022.
- ICE concluded that Bakkt no longer met the significance test for the years ended December 31, 2024 and 2023.
- However, as Bakkt met the significance test for a prior year presented in the financial statements included in the 2024 Form 10-K, this amendment is being filed to provide Bakkt's financial statements.
- No other changes are being made to the 2024 Form 10-K pursuant to this amendment.
- The consolidated financial statements of Bakkt as of and for the year ended December 31, 2024 were prepared and provided to ICE by Bakkt.
- The amendment does not modify or update ICE's consolidated financial position, results of operations, or cash flows.
- Disclosures in or exhibits to the 2024 Form 10-K are not modified or updated, and the amendment does not reflect events occurring after the filing of the 2024 Form 10-K.
- Forward-looking statements made in the 2024 Form 10-K have not been revised to reflect subsequent events or facts.
- As of February 3, 2025, the number of shares of the registrant’s Common Stock outstanding was 574,564,858 shares.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing. The sentiment is neutral as it primarily addresses compliance matters.
Positives
- The filing ensures compliance with SEC regulations regarding the disclosure of financial information for significant equity investees.
- The amendment provides additional transparency by including Bakkt's financial statements, even though Bakkt is no longer considered a significant investee for the current and prior year.
Future Outlook
The document does not contain any specific forward-looking statements beyond those already present in the original 2024 Form 10-K.
Industry Context
The inclusion of Bakkt's financials reflects the regulatory requirements for companies with significant equity investments, particularly relevant in the context of evolving digital asset and fintech landscapes.
Stakeholder Impact
- Shareholders gain additional insight into ICE's investment in Bakkt through the included financial statements.
Key Dates
| Date | Description |
|---|---|
| 2022-08-22 | Sixth Amended and Restated Certificate of Incorporation of Intercontinental Exchange, Inc., effective August 22, 2022 |
| 2022-08-22 | Ninth Amended and Restated Bylaws of Intercontinental Exchange, Inc., effective August 22, 2022 |
| 2024-12-31 | Fiscal year ended for Intercontinental Exchange, Inc. |
| 2024-12-31 | Fiscal year ended for Bakkt Holdings, Inc. |
| 2025-02-03 | Date of share outstanding count: 574,564,858 shares. |
| 2025-02-06 | Intercontinental Exchange Inc. filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. |
| 2025-03-19 | Date of KPMG LLP report on Bakkt Holdings, Inc. |
| 2025-03-19 | Date of Ernst & Young LLP report on Bakkt Holdings, Inc. except for the effects of Staff Accounting Bulletin 122 Accounting for Obligations to Safeguard Crypto-Assets an Entity Holds for its Platform Users, Accounting Standards Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, and the Reverse Stock Split completed by the Company on April 29, 2024, all as disclosed in Note 2 as to which the date is March 19, 2025 |
| 2025-03-20 | Date of Intercontinental Exchange, Inc. Form 10-K/A filing. |
Keywords
Intercontinental Exchange, Bakkt, Form 10-K/A, Financial Statements, SEC, Amendment, Equity Investee
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