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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

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