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OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)
 3 Months Ended
Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)
Other Current Assets

The following table presents the detail of other current assets (in thousands):
  March 31, 2024December 31, 2023
Restricted cash (i)
$660,153 $770,380 
Processing costs receivable397,012 365,153 
Loans held for investment, net of allowance for loan losses (ii)
246,355 247,631 
Accounts receivable, net148,090 134,824 
Prepaid expenses125,767 100,770 
Inventory, net119,413 110,097 
Short term deposits (iii)
41,451 397,630 
Other224,624 227,003 
Total$1,962,865 $2,353,488 

(i) Includes a portion invested in money market funds. Refer to Note 5, Fair Value Measurements for further details.

(ii) Refer to Note 7, Customer Loans for further details.

(iii) As of December 31, 2023, includes a $350.0 million deposit held by a processor to meet requirements related to processing volumes under an arrangement that was executed in the fourth quarter of 2023. During the first quarter of 2024, this $350.0 million deposit was returned to the Company.

Accrued Expenses and Other Current Liabilities

The following table presents the detail of accrued expenses and other current liabilities (in thousands):    
  March 31, 2024December 31, 2023
Accrued expenses$480,672 $538,812 
Customer deposits185,677 167,028 
Accounts payable91,426 142,554 
Accrued royalties62,306 62,140 
Accrued transaction losses (i)
60,016 54,042 
Operating lease liabilities, current53,188 53,721 
Other342,036 316,372 
Total$1,275,321 $1,334,669 

(i) The Company is exposed to potential credit losses related to transactions processed by sellers that are subsequently subject to chargebacks when the Company is unable to collect from the sellers primarily due to insolvency. Generally, the Company estimates the potential loss rates based on historical experience that is continuously adjusted for new information and incorporates, where applicable, reasonable and supportable forecasts about future expectations.
The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands):
Three Months Ended
March 31,
20242023
Accrued transaction losses, beginning of the period$54,042 $64,539 
Provision for transaction losses30,819 24,942 
Charge-offs to accrued transaction losses(24,845)(27,396)
Accrued transaction losses, end of the period$60,016 $62,085 

In addition to amounts reflected in the table above, the Company recognized additional provision for transaction losses that was realized and written-off within the same period. Such losses are primarily related to Cash App transactions, such as peer-to-peer transactions, disputes, and negative balances, that are uncertain in nature. The Company recorded $47.4 million and $105.9 million for the three months ended March 31, 2024 and March 31, 2023, respectively, for such losses.
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)
Other Non-Current Assets

The following table presents the detail of other non-current assets (in thousands):
  March 31, 2024December 31, 2023
Bitcoin investment (i)
$573,302 $339,898 
Property and equipment, net290,715 296,056 
Operating lease right-of-use assets242,858 244,701 
Investment in non-marketable equity securities (ii)
209,504 205,268 
Investments in long-term debt securities187,922 251,127 
Restricted cash71,588 71,812 
Other103,690 122,508 
Total$1,679,579 $1,531,370 

(i) Refer to Note 11, Bitcoin for further details.

(ii) Investment in non-marketable equity securities represents the Company's investments in equity of non-public entities. These investments are measured using the measurement alternative and are therefore carried at cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments are recorded within other expense (income), net on the condensed consolidated statements of operations. Unrealized gains and losses were immaterial during the three months ended March 31, 2024.

Other Non-Current Liabilities

The following table presents the detail of other non-current liabilities (in thousands):
  March 31, 2024December 31, 2023
Operating lease liabilities, non-current$281,836 $289,788 
Deferred tax liabilities27,376 35,695 
Other166,013 154,972 
Total$475,225 $480,455