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SEGMENT AND GEOGRAPHICAL INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Segment Reporting Information, by Segment | Information on the reportable segments revenue and segment gross profit are as follows (in thousands):
| Three Months Ended September 30, 2021 |  | Nine Months Ended September 30, 2021
| Cash App |  | Seller |  | Corporate and Other (i) |  | Total |  | Cash App |  | Seller |  | Corporate and Other (i) |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transaction-based revenue | $ | 103,192 |  |  | $ | 1,193,848 |  |  | $ | — |  |  | $ | 1,297,040 |  |  | $ | 306,101 |  |  | $ | 3,178,144 |  |  | $ | — |  |  | $ | 3,484,245 |
Subscription and services-based revenue | 474,779 |  |  | 162,341 |  |  | 57,650 |  |  | 694,770 |  |  | 1,406,313 |  |  | 434,673 |  |  | 96,643 |  |  | 1,937,629 |
Hardware revenue | — |  |  | 37,255 |  |  | — |  |  | 37,255 |  |  | — |  |  | 109,769 |  |  | — |  |  | 109,769 |
Bitcoin revenue | 1,815,662 |  |  | — |  |  | — |  |  | 1,815,662 |  |  | 8,051,026 |  |  | — |  |  | — |  |  | 8,051,026 |
Segment revenue | $ | 2,393,633 |  |  | $ | 1,393,444 |  |  | $ | 57,650 |  |  | $ | 3,844,727 |  |  | $ | 9,763,440 |  |  | $ | 3,722,586 |  |  | $ | 96,643 |  |  | $ | 13,582,669 |
Segment gross profit | $ | 511,717 |  |  | $ | 606,225 |  |  | $ | 15,273 |  |  | $ | 1,133,215 |  |  | $ | 1,553,255 |  |  | $ | 1,659,378 |  |  | $ | 25,147 |  |  | $ | 3,237,780 |
| Three Months Ended September 30, 2020 |  | Nine Months Ended September 30, 2020
| Cash App |  | Seller |  | Corporate and Other (i) |  | Total |  | Cash App |  | Seller |  | Corporate and Other (i) |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transaction-based revenue | $ | 80,721 |  |  | $ | 844,573 |  |  | $ | — |  |  | $ | 925,294 |  |  | $ | 162,197 |  |  | $ | 2,203,770 |  |  | $ | — |  |  | $ | 2,365,967 |
Subscription and services-based revenue | 354,110 |  |  | 93,412 |  |  | — |  |  | 447,522 |  |  | 818,991 |  |  | 271,041 |  |  | — |  |  | 1,090,032 |
Hardware revenue | — |  |  | 27,294 |  |  | — |  |  | 27,294 |  |  | — |  |  | 67,291 |  |  | — |  |  | 67,291 |
Bitcoin revenue | 1,633,764 |  |  | — |  |  | — |  |  | 1,633,764 |  |  | 2,815,318 |  |  | — |  |  | — |  |  | 2,815,318 |
Segment revenue | $ | 2,068,595 |  |  | $ | 965,279 |  |  | $ | — |  |  | $ | 3,033,874 |  |  | $ | 3,796,506 |  |  | $ | 2,542,102 |  |  | $ | — |  |  | $ | 6,338,608 |
Segment gross profit | $ | 385,124 |  |  | $ | 409,331 |  |  | $ | — |  |  | $ | 794,455 |  |  | $ | 848,919 |  |  | $ | 1,080,800 |  |  | $ | — |  |  | $ | 1,929,719 |
(i) Corporate and other represents results related to products and services that are not assigned to a specific reportable segment. Comparable prior period amounts have not been disclosed as they were not material.
Reconciliation of Total Segment Profit to Income before applicable Income Taxes | A reconciliation of total segment gross profit to the Company’s income (loss) before applicable income taxes is as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Total segment gross profit | $ | 1,133,215 |  |  | $ | 794,455 |  |  | $ | 3,237,780 |  |  | $ | 1,929,719 |
Less: Product development | 366,587 |  |  | 227,550 |  |  | 1,003,238 |  |  | 631,156 |
Less: Sales and marketing | 407,850 |  |  | 348,463 |  |  | 1,132,411 |  |  | 781,094 |
Less: General and administrative | 267,476 |  |  | 153,902 |  |  | 684,405 |  |  | 419,783 |
Less: Transaction and loan losses | 62,306 |  |  | 15,198 |  |  | 130,874 |  |  | 161,684 |
Less: Bitcoin impairment losses | 6,000 |  |  | — |  |  | 71,126 |  |  | — |
Less: Interest expense, net | 13,409 |  |  | 14,980 |  |  | 20,126 |  |  | 38,955 |
Less: Other expense (income), net | 12,011 |  |  | (784) |  |  | (36,249) |  |  | (20,513) |
Income (loss) before applicable income taxes | $ | (2,424) |  |  | $ | 35,146 |  |  | $ | 231,849 |  |  | $ | (82,440) |
Revenue by Geographic Area | Revenue by geography is based on the addresses of the sellers or customers. The following table sets forth revenue by geographic area (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Revenue |  |  |  |  |  |  |
United States | $ | 3,679,609 |  |  | $ | 2,947,400 |  |  | $ | 13,179,547 |  |  | $ | 6,126,971 |
International | 165,118 |  |  | 86,474 |  |  | 403,122 |  |  | 211,637 |
Total net revenue | $ | 3,844,727 |  |  | $ | 3,033,874 |  |  | $ | 13,582,669 |  |  | $ | 6,338,608 |
Long-lived Assets by Geographic Area | The following table sets forth long-lived assets by geographic area (in thousands):
| September 30, 2021 |  | December 31, 2020
Long-lived assets |  |  |
United States | $ | 1,420,358 |  |  | $ | 1,086,379 |
International | 91,416 |  |  | 58,342 |
Total long-lived assets | $ | 1,511,774 |  |  | $ | 1,144,721 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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