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GOODWILL | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL | GOODWILL Goodwill is recorded when the consideration paid for an acquisition of a business exceeds the fair value of identifiable net tangible and intangible assets acquired. The change in the carrying value of goodwill was as follows (in thousands):
Balance at December 31, 2022 | $ | 11,966,761 |  |  |
Acquisitions | 7,921 |  |  |
Foreign currency translation adjustments | 77,351 |  |  |
Impairment charge | (132,313) |  |  |
Balance at December 31, 2023 | 11,919,720 |  |  |
Foreign currency translation adjustments | (428,790) |  |  |
Impairment charge | (73,508) |  |  |
Balance at December 31, 2024 | $ | 11,417,422 |  |  |
As discussed further in Note 20, Segment and Geographical Information, the Company has two reportable segments, Square and Cash App. For purposes of completing its goodwill impairment tests, the Company performs either a qualitative or a quantitative analysis on a reporting unit basis. In the fourth quarter of 2024 and 2023, the Company performed quantitative goodwill impairment testing of its reporting units and recognized impairment charges of $73.5 million and $132.3 million, respectively, related to the TIDAL reporting unit. The impairment charges were as a result of changes in TIDAL's strategic focus, including terminations of certain revenue arrangements and investment into new product areas. These charges are included within general and administrative expenses in the Company's consolidated statements of operations. The fair value of the TIDAL reporting unit was estimated by evaluating the cost approach, based on the value of the reporting unit's net assets, and the income approach, which was based upon the present value of estimated future cash flows. The Company performed its annual goodwill impairment assessment as of December 31, 2024 and concluded no additional goodwill impairment should be recognized. The change in the carrying value of goodwill allocated to the reportable segments was as follows (in thousands):
| Cash App |  | Square |  | Corporate and Other |  | Total
Balance at December 31, 2022 | $ | 5,852,930 |  |  | $ | 5,915,946 |  |  | $ | 197,885 |  |  | $ | 11,966,761 |
Acquisitions | — |  |  | — |  |  | 7,921 |  |  | 7,921 |
Foreign currency translation adjustments | 77,351 |  |  | — |  |  | — |  |  | 77,351 |
Reallocation between segments | 720,847 |  |  | (720,847) |  |  | — |  |  | — |
Impairment charge | — |  |  | — |  |  | (132,313) |  |  | (132,313) |
Balance at December 31, 2023 | 6,651,128 |  |  | 5,195,099 |  |  | 73,493 |  |  | 11,919,720 |
Foreign currency translation adjustments | (236,041) |  |  | (192,764) |  |  | 15 |  |  | (428,790) |
Impairment charge | — |  |  | — |  |  | (73,508) |  |  | (73,508) |
Balance at December 31, 2024 | $ | 6,415,087 |  |  | $ | 5,002,335 |  |  | $ | — |  |  | $ | 11,417,422 |

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