Business Context and Reporting Period
This Form 8-K was filed by NASDAQ, INC. on November 8, 2022. The report addresses a strategic reorganization of the company's business units into three new divisions: Market Platforms, Capital Access Platforms, and Anti-Financial Crime. This restructuring is effective by the end of the fourth quarter of 2022.
Key Financial Metrics
This filing does not contain current period revenue, profit, cash flow, or debt metrics. Instead, it provides unaudited supplemental recast financial information for the historical periods of 2017-2019 (furnished in this report) and 2020-2022 (previously furnished) to align with the new segment reporting structure.
Material Changes
- Segment Reporting Restructure: Nasdaq is transitioning its financial reporting to reflect the three new divisions mentioned above.
- Historical Recasting: The company is providing recast financial data for 2017 through 2022 to allow investors to analyze historical results under the new organizational framework.
- Future Reporting: Fourth quarter and full-year 2022 results, as well as all future reporting, will be presented in alignment with the new corporate structure.
Guidance, Outlook, and Risks
The filing does not provide specific financial guidance, outlook figures, or new risk factors. The primary purpose is to ensure transparency regarding the segment changes. Management notes that the supplemental recast information is available on the company's investor relations website. The information furnished under Item 7.01 is not deemed "filed" for purposes of the Securities Exchange Act of 1934.
Investor Verification Checklist
- Verify the unaudited supplemental recast financial information (Exhibit 99.1) for the periods 2017-2022 on Nasdaq's investor relations website.
- Confirm the effective date of the new segment structure (end of Q4 2022) when analyzing upcoming quarterly reports.
- Review the previously filed Form 8-K from October 19, 2022, for the 2020-2022 recast data to ensure continuity with the new 2017-2019 data.