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SEGMENT AND GEOGRAPHICAL INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting Information, by Segment | The following tables present information on the reportable segments revenue and segment gross profit (in thousands):
| Three Months Ended March 31, 2024 |  |
| Cash App |  | Square |  | Corporate and Other (i) |  | Total |  |  |  |  |  |  |  |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transaction-based revenue | $ | 109,220 |  |  | $ | 1,401,989 |  |  | $ | — |  |  | $ | 1,511,209 |  |  |  |  |  |  |  |  |
Subscription and services-based revenue | 1,332,560 |  |  | 296,218 |  |  | 53,516 |  |  | 1,682,294 |  |  |  |  |  |  |  |  |
Hardware revenue | — |  |  | 31,830 |  |  | 671 |  |  | 32,501 |  |  |  |  |  |  |  |  |
Bitcoin revenue | 2,731,124 |  |  | — |  |  | — |  |  | 2,731,124 |  |  |  |  |  |  |  |  |
Segment revenue | $ | 4,172,904 |  |  | $ | 1,730,037 |  |  | $ | 54,187 |  |  | $ | 5,957,128 |  |  |  |  |  |  |  |  |
Segment gross profit (ii) | $ | 1,258,527 |  |  | $ | 820,272 |  |  | $ | 15,674 |  |  | $ | 2,094,473 |  |  |  |  |  |  |  |  |
| Three Months Ended March 31, 2023 |  |
| Cash App |  | Square |  | Corporate and Other (i) |  | Total |  |  |  |  |  |  |  |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transaction-based revenue | $ | 134,663 |  |  | $ | 1,288,042 |  |  | $ | — |  |  | $ | 1,422,705 |  |  |  |  |  |  |  |  |
Subscription and services-based revenue | 1,085,748 |  |  | 229,884 |  |  | 50,592 |  |  | 1,366,224 |  |  |  |  |  |  |  |  |
Hardware revenue | — |  |  | 37,451 |  |  | — |  |  | 37,451 |  |  |  |  |  |  |  |  |
Bitcoin revenue | 2,163,751 |  |  | — |  |  | — |  |  | 2,163,751 |  |  |  |  |  |  |  |  |
Segment revenue | $ | 3,384,162 |  |  | $ | 1,555,377 |  |  | $ | 50,592 |  |  | $ | 4,990,131 |  |  |  |  |  |  |  |  |
Segment gross profit (ii) | $ | 1,009,953 |  |  | $ | 691,562 |  |  | $ | 13,069 |  |  | $ | 1,714,584 |  |  |  |  |  |  |  |  |
(i) Corporate and Other represents results related to products and services that are not assigned to a specific reportable segment, and intersegment eliminations. (ii) Segment gross profit for Cash App for the three months ended March 31, 2024 and March 31, 2023 included $13.7 million and $14.4 million of amortization of acquired technology assets expense, respectively. Segment gross profit for Square for the three months ended March 31, 2024 and March 31, 2023 included $2.5 million and $2.7 million of amortization of acquired technology assets expense, respectively. Amortization of acquired technology assets expense included in Corporate and Other was immaterial for the three months ended March 31, 2024 and March 31, 2023.
Reconciliation of Total Segment Profit to Income before applicable Income Taxes | The following table provides a reconciliation of total segment gross profit to the Company’s income (loss) before applicable income taxes (in thousands):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Total segment gross profit | $ | 2,094,473 |  |  | $ | 1,714,584 |  |  |  |  |
Less: Product development | 720,574 |  |  | 626,937 |  |  |  |  |
Less: Sales and marketing | 443,885 |  |  | 496,011 |  |  |  |  |
Less: General and administrative | 471,260 |  |  | 432,825 |  |  |  |  |
Less: Transaction, loan, and consumer receivable losses | 165,729 |  |  | 127,896 |  |  |  |  |
Less: Amortization of customer and other intangible assets | 43,282 |  |  | 37,087 |  |  |  |  |
Less: Interest income, net | (18,745) |  |  | (3,161) |  |  |  |  |
Less: Other income, net | (237,824) |  |  | (77,717) |  |  |  |  |
Income before applicable income taxes | $ | 506,312 |  |  | $ | 74,706 |  |  |  |  |
Revenue by Geographic Area | Revenue by geography is based on the addresses of the sellers or customers. The following table details revenue by geographic area (in thousands):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
United States | $ | 5,566,297 |  |  | $ | 4,664,635 |  |  |  |  |
International | 390,831 |  |  | 325,496 |  |  |  |  |
Total | $ | 5,957,128 |  |  | $ | 4,990,131 |  |  |  |  |
Long-lived Assets by Geographic Area | The following table details long-lived assets by geography (in thousands):
| March 31, 2024 |  | December 31, 2023
United States | $ | 7,512,224 |  |  | $ | 7,570,973 |
Australia | 4,546,350 |  |  | 4,761,535 |
Other international | 1,869,946 |  |  | 1,889,490 |
Total | $ | 13,928,520 |  |  | $ | 14,221,998 |

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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