XML 56 R46.htm IDEA: XBRL DOCUMENT v3.24.2.u1

SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2024																								Six Months Ended June 30, 2024
			Cash App						Square						Corporate and Other (i)						Total						Cash App						Square						Corporate and Other (i)						Total
Revenue:
Transaction-based revenue			$	98,912					$	1,614,055					$	—					$	1,712,967					$	208,131					$	3,016,045					$	—					$	3,224,176
Subscription and services-based revenue			1,418,172						322,617						47,104						1,787,893						2,750,732						618,835						100,620						3,470,187
Hardware revenue			—						42,818						142						42,960						—						74,648						813						75,461
Bitcoin revenue			2,611,743						—						—						2,611,743						5,342,867						—						—						5,342,867
Segment revenue			$	4,128,827					$	1,979,490					$	47,246					$	6,155,563					$	8,301,730					$	3,709,528					$	101,433					$	12,112,691
Segment gross profit (ii)			$	1,298,944					$	922,584					$	11,952					$	2,233,480					$	2,557,470					$	1,742,857					$	27,626					$	4,327,953

			Three Months Ended June 30, 2023																								Six Months Ended June 30, 2023
			Cash App						Square						Corporate and Other (i)						Total						Cash App						Square						Corporate and Other (i)						Total
Revenue:
Transaction-based revenue			$	133,741					$	1,503,913					$	—					$	1,637,654					$	268,404					$	2,791,955					$	—					$	3,060,359
Subscription and services-based revenue			1,148,540						262,878						50,079						1,461,497						2,234,288						492,762						100,671						2,827,721
Hardware revenue			—						44,922						—						44,922						—						82,373						—						82,373
Bitcoin revenue			2,390,884						—						—						2,390,884						4,554,635						—						—						4,554,635
Segment revenue			$	3,673,165					$	1,811,713					$	50,079					$	5,534,957					$	7,057,327					$	3,367,090					$	100,671					$	10,525,088
Segment gross profit (ii)			$	1,052,285					$	804,033					$	9,783					$	1,866,101					$	2,062,238					$	1,495,601					$	22,846					$	3,580,685

(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 and six months ended June 30, 2024 included $13.6 million and $27.4 million of amortization of acquired technology assets expense, respectively. Segment gross profit for Cash App for the three and six months ended June 30, 2023 included $14.3 million and $28.6 million of amortization of acquired technology assets expense, respectively. Segment gross profit for Square for the three and six months ended June 30, 2024 included $2.2 million and $4.7 million of amortization of acquired technology assets expense, respectively. Segment gross profit for Square for the three and six months ended June 30, 2023 included $2.7 million and $5.4 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 and six months ended June 30, 2024 and June 30, 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 June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Total segment gross profit			$	2,233,480					$	1,866,101					$	4,327,953					$	3,580,685
Less: Product development			713,163						694,672						1,433,737						1,321,609
Less: Sales and marketing			507,562						537,607						951,447						1,033,618
Less: General and administrative			473,568						549,293						944,828						982,118
Less: Transaction, loan, and consumer receivable losses			191,812						179,771						357,541						307,667
Less: Amortization of customer and other intangible assets			40,813						36,865						84,095						73,952
Less: Interest income, net			(1,871)						(3,944)						(20,616)						(7,105)
Less: Other expense (income), net			59,532						(14,635)						(178,292)						(92,352)
Income (loss) before applicable income taxes			$	248,901					$	(113,528)					$	755,213					$	(38,822)

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 June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
United States			$	5,731,874					$	5,171,558					$	11,298,171					$	9,836,193
International			423,689						363,399						814,520						688,895
Total			$	6,155,563					$	5,534,957					$	12,112,691					$	10,525,088

Long-lived Assets by Geographic Area

The following table details long-lived assets by geography (in thousands):

			June 30, 2024						December 31, 2023
United States			$	7,462,022					$	7,570,973
Australia			4,647,329						4,761,535
Other international			1,870,730						1,889,490
Total			$	13,980,081					$	14,221,998

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

Name:	us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

Name:	us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration