XML 56 R46.htm IDEA: XBRL DOCUMENT
v3.24.3

SEGMENT AND GEOGRAPHICAL INFORMATION (Tables) | 9 Months Ended
--- | ---
Sep. 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 September 30, 2024 |  | Nine Months Ended September 30, 2024
| Cash App |  | Square |  | Corporate and Other (i) |  | Total |  | Cash App |  | Square |  | Corporate and Other (i) |  | Total
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transaction-based revenue | $ | 69,995 |  |  | $ | 1,642,426 |  |  | $ | — |  |  | $ | 1,712,421 |  |  | $ | 278,126 |  |  | $ | 4,658,471 |  |  | $ | — |  |  | $ | 4,936,597 |
Subscription and services-based revenue | 1,430,970 |  |  | 322,582 |  |  | 44,381 |  |  | 1,797,933 |  |  | 4,181,703 |  |  | 941,417 |  |  | 145,000 |  |  | 5,268,120 |
Hardware revenue | — |  |  | 36,729 |  |  | 110 |  |  | 36,839 |  |  | — |  |  | 111,377 |  |  | 923 |  |  | 112,300 |
Bitcoin revenue | 2,428,608 |  |  | — |  |  | — |  |  | 2,428,608 |  |  | 7,771,475 |  |  | — |  |  | — |  |  | 7,771,475 |
Segment revenue | $ | 3,929,573 |  |  | $ | 2,001,737 |  |  | $ | 44,491 |  |  | $ | 5,975,801 |  |  | $ | 12,231,304 |  |  | $ | 5,711,265 |  |  | $ | 145,923 |  |  | $ | 18,088,492 |
Segment gross profit (ii) | $ | 1,305,943 |  |  | $ | 932,356 |  |  | $ | 11,386 |  |  | $ | 2,249,685 |  |  | $ | 3,863,414 |  |  | $ | 2,675,212 |  |  | $ | 39,012 |  |  | $ | 6,577,638 |
| Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2023
| Cash App |  | Square |  | Corporate and Other (i) |  | Total |  | Cash App |  | Square |  | Corporate and Other (i) |  | Total
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transaction-based revenue | $ | 120,783 |  |  | $ | 1,537,885 |  |  | $ | — |  |  | $ | 1,658,668 |  |  | $ | 389,186 |  |  | $ | 4,329,841 |  |  | $ | — |  |  | $ | 4,719,027 |
Subscription and services-based revenue | 1,169,561 |  |  | 273,156 |  |  | 50,183 |  |  | 1,492,900 |  |  | 3,403,849 |  |  | 765,918 |  |  | 150,854 |  |  | 4,320,621 |
Hardware revenue | — |  |  | 42,341 |  |  | — |  |  | 42,341 |  |  | — |  |  | 124,714 |  |  | — |  |  | 124,714 |
Bitcoin revenue | 2,423,584 |  |  | — |  |  | — |  |  | 2,423,584 |  |  | 6,978,219 |  |  | — |  |  | — |  |  | 6,978,219 |
Segment revenue | $ | 3,713,928 |  |  | $ | 1,853,382 |  |  | $ | 50,183 |  |  | $ | 5,617,493 |  |  | $ | 10,771,254 |  |  | $ | 5,220,473 |  |  | $ | 150,854 |  |  | $ | 16,142,581 |
Segment gross profit (ii) | $ | 1,077,489 |  |  | $ | 805,338 |  |  | $ | 15,622 |  |  | $ | 1,898,449 |  |  | $ | 3,139,726 |  |  | $ | 2,300,940 |  |  | $ | 38,468 |  |  | $ | 5,479,134 |
(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 nine months ended September 30, 2024 included $13.9 million and $41.3 million of amortization of acquired technology assets expense, respectively. Segment gross profit for Cash App for the three and nine months ended September 30, 2023 included $13.8 million and $42.4 million of amortization of acquired technology assets expense, respectively. Segment gross profit for Square for the three and nine months ended September 30, 2024 included $1.5 million and $6.2 million of amortization of acquired technology assets expense, respectively. Segment gross profit for Square for the three and nine months ended September 30, 2023 included $2.7 million and $8.0 million of amortization of acquired technology assets expense, respectively. Amortization of acquired technology assets expense included in Corporate and Other was $1.8 million and $5.3 million for the three and nine months ended September 30, 2024, respectively. Amortization of acquired technology assets expense included in Corporate and Other was $1.5 million and $4.4 million for the three and nine months ended September 30, 2023, respectively.
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 September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Total segment gross profit | $ | 2,249,685 |  |  | $ | 1,898,449 |  |  | $ | 6,577,638 |  |  | $ | 5,479,134 |
Less: Product development | 710,983 |  |  | 713,788 |  |  | 2,144,720 |  |  | 2,035,397 |
Less: Sales and marketing | 511,755 |  |  | 479,381 |  |  | 1,463,202 |  |  | 1,512,999 |
Less: General and administrative | 475,855 |  |  | 480,885 |  |  | 1,420,683 |  |  | 1,463,003 |
Less: Transaction, loan, and consumer receivable losses | 192,062 |  |  | 177,338 |  |  | 549,603 |  |  | 485,005 |
Less: Amortization of customer and other intangible assets | 36,021 |  |  | 56,965 |  |  | 120,116 |  |  | 130,917 |
Less: Interest expense (income), net | 13,811 |  |  | (21,415) |  |  | (6,805) |  |  | (28,520) |
Less: Other expense (income), net | (14,949) |  |  | 23,912 |  |  | (193,241) |  |  | (68,440) |
Income (loss) before applicable income taxes | $ | 324,147 |  |  | $ | (12,405) |  |  | $ | 1,079,360 |  |  | $ | (51,227) |
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 September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
United States | $ | 5,519,879 |  |  | $ | 5,227,987 |  |  | $ | 16,818,047 |  |  | $ | 15,064,180 |
International | 455,922 |  |  | 389,506 |  |  | 1,270,445 |  |  | 1,078,401 |
Total | $ | 5,975,801 |  |  | $ | 5,617,493 |  |  | $ | 18,088,492 |  |  | $ | 16,142,581 |
Long-lived Assets by Geographic Area | The following table details long-lived assets by geography (in thousands):
| September 30, 2024 |  | December 31, 2023
United States | $ | 7,453,821 |  |  | $ | 7,570,973 |
Australia | 4,792,453 |  |  | 4,761,535 |
Other international | 1,959,283 |  |  | 1,889,490 |
Total | $ | 14,205,557 |  |  | $ | 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