XML 27 R17.htm IDEA: XBRL DOCUMENT
v3.24.3

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) | 9 Months Ended
--- | ---
Sep. 30, 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):
| September 30, 2024 |  | December 31, 2023
Restricted cash (i) | $ | 630,933 |  |  | $ | 770,380 |
Processing costs receivable | 467,208 |  |  | 365,153 |
Loans held for investment, net of allowance for loan losses (ii) | 260,718 |  |  | 247,631 |
Accounts receivable, net | 148,880 |  |  | 134,824 |
Inventory, net | 118,148 |  |  | 110,097 |
Prepaid expenses | 107,029 |  |  | 100,770 |
Short term deposits (iii) | 57,208 |  |  | 397,630 |
Other | 225,578 |  |  | 227,003 |
Total | $ | 2,015,702 |  |  | $ | 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):
| September 30, 2024 |  | December 31, 2023
Accrued expenses | $ | 574,327 |  |  | $ | 538,812 |
Customer deposits | 240,715 |  |  | 167,028 |
Accounts payable | 94,154 |  |  | 142,554 |
Accrued transaction losses (i) | 58,961 |  |  | 54,042 |
Accrued royalties | 56,967 |  |  | 62,140 |
Operating lease liabilities, current | 53,529 |  |  | 53,721 |
Other | 255,192 |  |  | 316,372 |
Total | $ | 1,333,845 |  |  | $ | 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 September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Accrued transaction losses, beginning of the period | $ | 81,309 |  |  | $ | 62,758 |  |  | $ | 54,042 |  |  | $ | 64,539 |
Provision for transaction losses | 5,617 |  |  | 29,798 |  |  | 86,167 |  |  | 79,000 |
Charge-offs to accrued transaction losses | (27,965) |  |  | (20,929) |  |  | (81,248) |  |  | (71,912) |
Accrued transaction losses, end of the period | $ | 58,961 |  |  | $ | 71,627 |  |  | $ | 58,961 |  |  | $ | 71,627 |
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 $87.7 million and $219.4 million for the three and nine months ended September 30, 2024, respectively, for such losses. The Company recorded $111.1 million and $337.3 million for the three and nine months ended September 30, 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):
| September 30, 2024 |  | December 31, 2023
Bitcoin investment (i) | $ | 529,581 |  |  | $ | 339,898 |
Investments in long-term debt securities | 432,176 |  |  | 251,127 |
Property and equipment, net | 323,310 |  |  | 296,056 |
Operating lease right-of-use assets | 226,204 |  |  | 244,701 |
Investment in non-marketable equity securities (ii) | 211,565 |  |  | 205,268 |
Restricted cash | 69,915 |  |  | 71,812 |
Other | 131,728 |  |  | 122,508 |
Total | $ | 1,924,479 |  |  | $ | 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 and nine months ended September 30, 2024 and 2023. The following table summarizes the total carrying value of the Company's non-marketable equity securities measured using the measurement alternative, including our cumulative unrealized upward and downward adjustments made to the initial cost basis of the securities (in thousands):
| September 30, 2024 |  | December 31, 2023
Initial cost basis | $ | 97,076 |  |  | $ | 92,788 |
Upward adjustments | 119,276 |  |  | 115,187 |
Downward adjustments (including impairment) | (4,787) |  |  | (2,707) |
Total carrying value | $ | 211,565 |  |  | $ | 205,268 |
Other Non-Current Liabilities The following table presents the detail of other non-current liabilities (in thousands):
| September 30, 2024 |  | December 31, 2023
Operating lease liabilities, non-current | $ | 287,712 |  |  | $ | 289,788 |
Deferred tax liabilities | 40,928 |  |  | 35,695 |
Other | 146,447 |  |  | 154,972 |
Total | $ | 475,087 |  |  | $ | 480,455 |

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration