Block (SQ) 10-Q 2 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Jul. 25, 2021
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-37622
Entity Registrant Name	Square, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0429876
Entity Address, Address Line One	1455 Market Street
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94103
City Area Code	415
Local Phone Number	375-3176
Title of 12(b) Security	Class A common stock, $0.0000001 par value per share
Trading Symbol	SQ
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001512673
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		397,396,181
Class B
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		62,301,770

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 4,581,234	$ 3,158,058
Investments in short-term debt securities	1,014,903	695,112
Settlements receivable	1,155,757	1,024,895
Customer funds	2,847,477	2,037,832
Loans held for sale	807,402	462,665
Other current assets	593,462	383,067
Total current assets	11,000,235	7,761,629
Property and equipment, net	260,883	233,520
Goodwill	501,400	316,701
Acquired intangible assets, net	262,196	137,612
Investments in long-term debt securities	947,093	463,950
Operating lease right-of-use assets	461,277	456,888
Other non-current assets	382,604	499,250
Total assets	13,815,688	9,869,550
Current liabilities:
Customers payable	3,993,164	3,009,051
Settlements payable	257,008	239,362
Accrued expenses and other current liabilities	515,813	360,850
Operating lease liabilities, current	57,102	52,747
PPP Liquidity Facility advances	823,683	464,094
Total current liabilities	5,646,770	4,126,104
Long-term debt	4,841,277	2,586,924
Operating lease liabilities, non-current	404,571	389,662
Other non-current liabilities	186,369	85,291
Total liabilities	11,078,987	7,187,981
Commitments and contingencies (Note 18)
Stockholders’ equity:
Preferred stock, $0.0000001 par value: 100,000,000 shares authorized at June 30, 2021 and December 31, 2020. None issued and outstanding at June 30, 2021 and December 31, 2020.	0	0
Additional paid-in capital	2,632,234	2,955,464
Accumulated other comprehensive income	7,838	23,328
Retained earnings (accumulated deficit)	48,780	(297,223)
Total stockholders’ equity attributable to common stockholders	2,688,852	2,681,569
Noncontrolling interests	47,849	0
Total stockholders’ equity	2,736,701	2,681,569
Total liabilities and stockholders’ equity	13,815,688	9,869,550
Class A
Stockholders’ equity:
Common stock	0	0
Class B
Stockholders’ equity:
Common stock	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Preferred stock, par value (in USD per share)	$ 0.00	$ 0.00
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A
Class of Stock [Line Items]
Common stock, par value (in USD per share)	$ 0.00	$ 0.00
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	395,321,647	390,187,079
Common stock, shares outstanding (in shares)	395,321,647	390,187,079
Class B
Class of Stock [Line Items]
Common stock, par value (in USD per share)	$ 0.00	$ 0.00
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	62,501,770	65,997,697
Common stock, shares outstanding (in shares)	62,501,770	65,997,697

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue:
Revenue	$ 4,680,672	$ 1,923,625	$ 9,737,942	$ 3,304,734
Cost of revenue:
Total cost of revenue	3,539,608	1,326,862	7,633,377	2,169,470
Gross profit	1,141,064	596,763	2,104,565	1,135,264
Operating expenses:
Product development	326,510	207,730	636,651	403,606
Sales and marketing	375,101	238,096	724,561	432,631
General and administrative	221,020	136,386	416,929	265,881
Transaction and loan losses	48,173	37,603	68,568	146,486
Bitcoin impairment losses	45,266	0	65,126	0
Total operating expenses	1,016,070	619,815	1,911,835	1,248,604
Operating income (loss)	124,994	(23,052)	192,730	(113,340)
Interest expense, net	6,464	14,769	6,717	23,975
Other (income), net	(75,788)	(25,591)	(48,260)	(19,729)
Income (loss) before income tax	194,318	(12,230)	234,273	(117,586)
Benefit for income taxes	(9,360)	(752)	(8,413)	(217)
Net income (loss)	203,678	(11,478)	242,686	(117,369)
Net income (loss) attributable to noncontrolling interests	(343)	0	(343)	0
Net income (loss) attributable to common stockholders	$ 204,021	$ (11,478)	$ 243,029	$ (117,369)
Net income (loss) per share attributable to common stockholders:
Basic (in USD per share)	$ 0.45	$ (0.03)	$ 0.53	$ (0.27)
Diluted (in USD per share)	$ 0.40	$ (0.03)	$ 0.48	$ (0.27)
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders:
Basic (in shares)	455,431	440,117	455,203	437,529
Diluted (in shares)	522,578	440,117	519,713	437,529
Transaction-based revenue
Revenue:
Revenue	$ 1,227,472	$ 682,572	$ 2,187,205	$ 1,440,673
Cost of revenue:
Cost of revenue	684,839	389,136	1,211,618	855,602
Subscription and services-based revenue
Revenue:
Revenue	631,402	328,763	1,156,467	584,646
Revenue	685,178	346,275	1,242,859	642,510
Cost of revenue:
Cost of revenue	123,725	51,365	214,098	93,273
Hardware revenue
Revenue:
Revenue	43,726	19,322	72,514	39,997
Cost of revenue:
Cost of revenue	61,403	28,320	101,885	63,128
Bitcoin revenue
Revenue:
Revenue	2,724,296	875,456	6,235,364	1,181,554
Cost of revenue:
Cost of revenue	$ 2,669,641	$ 858,041	$ 6,105,776	$ 1,157,467

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 203,678	$ (11,478)	$ 242,686	$ (117,369)
Net foreign currency translation adjustments	(916)	6,367	(11,511)	(2,021)
Net unrealized gain (loss) on marketable debt securities	(1,445)	1,431	(3,979)	4,758
Total comprehensive income (loss)	$ 201,317	$ (3,680)	$ 227,196	$ (114,632)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income (loss)	$ 242,686	$ (117,369)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	57,595	41,117
Non-cash interest and other	11,324	32,769
Loss on extinguishment of long-term debt	0	990
Share-based compensation	264,988	173,713
Gain on revaluation of equity investment	(47,843)	(20,999)
Bitcoin impairment losses	65,126	0
Non-cash lease expense	41,047	32,343
Transaction and loan losses	68,568	146,486
Change in deferred income taxes	(473)	(1,024)
Changes in operating assets and liabilities:
Settlements receivable	(220,975)	(339,886)
Customer funds	(757,987)	(953,387)
Purchases and originations of loans	(1,664,016)	(1,466,391)
Sales, principal payments, and forgiveness of loans	1,284,077	1,041,208
Customers payable	985,322	1,291,968
Settlements payable	17,646	83,297
Other assets and liabilities	(49,273)	(96,668)
Net cash provided by (used in) operating activities	297,812	(151,833)
Cash flows from investing activities:
Purchase of marketable debt securities	(1,482,486)	(724,862)
Proceeds from maturities of marketable debt securities	296,082	267,686
Proceeds from sale of marketable debt securities	374,760	330,626
Purchase of marketable debt securities from customer funds	(387,463)	(265,287)
Proceeds from maturities of marketable debt securities from customer funds	334,200	142,000
Proceeds from sale of marketable debt securities from customer funds	0	22,457
Purchase of property and equipment	(66,628)	(56,561)
Purchase of bitcoin investments	(170,000)	0
Purchase of other investments	(45,425)	0
Proceeds from sale of equity investments	378,225	0
Business combinations, net of cash acquired	(164,304)	(18,354)
Net cash used in investing activities	(933,039)	(302,295)
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes, net	0	986,241
Purchase of convertible senior note hedges	0	(149,200)
Proceeds from issuance of warrants	0	99,500
Proceeds from issuance of senior unsecured notes, net	1,971,828	0
Proceeds from PPP Liquidity Facility advances	681,542	447,764
Repayments of PPP Liquidity Facility advances	(321,953)	0
Payments for tax withholding related to vesting of restricted stock units	(292,225)	(93,654)
Proceeds from the exercise of stock options and purchases under the employee stock purchase plan	72,155	78,085
Other financing activities	0	(1,924)
Net cash provided by financing activities	2,111,347	1,366,812
Effect of foreign exchange rate on cash and cash equivalents	(7,092)	(5,182)
Net increase in cash, cash equivalents, and restricted cash	1,469,028	907,502
Cash, cash equivalents, and restricted cash, beginning of period	3,201,863	1,098,706
Cash, cash equivalents, and restricted cash, end of period	$ 4,670,891	$ 2,006,208

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Class A and B common stock	Additional paid-in capital	Additional paid-in capitalCumulative Effect, Period of Adoption, Adjustment	Accumulated other comprehensive income (loss)	Retained earnings (Accumulated deficit)	Retained earnings (Accumulated deficit)Cumulative Effect, Period of Adoption, Adjustment	Noncontrolling interests
Beginning balance (in shares) at Dec. 31, 2019			432,796,720
Beginning balance at Dec. 31, 2019	$ 1,715,050		$ 0	$ 2,223,749		$ 1,629	$ (510,328)		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(105,891)						(105,891)
Shares issued in connection with employee stock plans (in shares)			5,222,525
Shares issued in connection with employee stock plans	31,406			31,406
Change in other comprehensive loss	(5,061)					(5,061)
Share-based compensation	79,562			79,562
Tax withholding related to vesting of restricted stock units (in shares)			(722,606)
Tax withholding related to vesting of restricted stock units	(48,772)			(48,772)
Conversion feature of convertible senior notes, due 2025, net of allocated costs	152,258			152,258
Purchase of bond hedges in conjunction with issuance of convertible senior notes, due 2025	(149,200)			(149,200)
Sale of warrants in conjunction with issuance of convertible senior notes, due 2025	99,500			99,500
Issuance of common stock in conjunction with the conversion of convertible notes (in shares)			1,109,980
Issuance of common stock in conjunction with the conversion of convertible notes	24,094			24,094
Issuance of common stock in connection with business combination (in shares)			357,017
Issuance of common stock in connection with business combination	14,999			14,999
Ending balance (in shares) at Mar. 31, 2020			438,763,636
Ending balance at Mar. 31, 2020	1,807,945		$ 0	2,427,596		(3,432)	(616,219)		0
Beginning balance (in shares) at Dec. 31, 2019			432,796,720
Beginning balance at Dec. 31, 2019	1,715,050		$ 0	2,223,749		1,629	(510,328)		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(117,369)
Ending balance (in shares) at Jun. 30, 2020			442,389,351
Ending balance at Jun. 30, 2020	1,926,307		$ 0	2,549,638		4,366	(627,697)		0
Beginning balance (in shares) at Dec. 31, 2019			432,796,720
Beginning balance at Dec. 31, 2019	1,715,050		$ 0	2,223,749		1,629	(510,328)		0
Ending balance (in shares) at Dec. 31, 2020			456,184,776
Ending balance at Dec. 31, 2020	$ 2,681,569	$ (399,734)	$ 0	2,955,464	$ (502,708)	23,328	(297,223)	$ 102,974	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06
Beginning balance (in shares) at Mar. 31, 2020			438,763,636
Beginning balance at Mar. 31, 2020	$ 1,807,945		$ 0	2,427,596		(3,432)	(616,219)		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(11,478)						(11,478)
Shares issued in connection with employee stock plans (in shares)			4,802,969
Shares issued in connection with employee stock plans	46,679			46,679
Change in other comprehensive loss	7,798					7,798
Share-based compensation	99,925			99,925
Tax withholding related to vesting of restricted stock units (in shares)			(703,895)
Tax withholding related to vesting of restricted stock units	(44,882)			(44,882)
Exercise of bond hedges in conjunction with the conversion of convertible notes (in shares)			(724,316)
Issuance of common stock in connection with business combination (in shares)			250,957
Issuance of common stock in connection with business combination	20,320			20,320
Ending balance (in shares) at Jun. 30, 2020			442,389,351
Ending balance at Jun. 30, 2020	1,926,307		$ 0	2,549,638		4,366	(627,697)		0
Beginning balance (in shares) at Dec. 31, 2020			456,184,776
Beginning balance at Dec. 31, 2020	2,681,569	(399,734)	$ 0	2,955,464	(502,708)	23,328	(297,223)	102,974	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	39,008						39,008
Shares issued in connection with employee stock plans (in shares)			4,311,094
Shares issued in connection with employee stock plans	32,891			32,891
Change in other comprehensive loss	(13,129)					(13,129)
Share-based compensation	121,965			121,965
Tax withholding related to vesting of restricted stock units (in shares)			(669,076)
Tax withholding related to vesting of restricted stock units	(152,013)			(152,013)
Issuance of common stock in conjunction with the conversion of convertible notes (in shares)			166,967
Issuance of common stock in conjunction with the conversion of convertible notes	3,816			3,816
Exercise of bond hedges in conjunction with the conversion of convertible notes (in shares)			(5,325,320)
Ending balance (in shares) at Mar. 31, 2021			454,668,441
Ending balance at Mar. 31, 2021	2,314,373		$ 0	2,459,415		10,199	(155,241)		0
Beginning balance (in shares) at Dec. 31, 2020			456,184,776
Beginning balance at Dec. 31, 2020	2,681,569	$ (399,734)	$ 0	2,955,464	$ (502,708)	23,328	(297,223)	$ 102,974	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	242,686
Ending balance (in shares) at Jun. 30, 2021			457,823,417
Ending balance at Jun. 30, 2021	2,736,701		$ 0	2,632,234		7,838	48,780		47,849
Beginning balance (in shares) at Mar. 31, 2021			454,668,441
Beginning balance at Mar. 31, 2021	2,314,373		$ 0	2,459,415		10,199	(155,241)		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	203,678						204,021		(343)
Shares issued in connection with employee stock plans (in shares)			2,410,350
Shares issued in connection with employee stock plans	39,526			39,526
Change in other comprehensive loss	(2,361)					(2,361)
Share-based compensation	150,367			150,367
Tax withholding related to vesting of restricted stock units (in shares)			(602,961)
Tax withholding related to vesting of restricted stock units	(140,212)			(140,212)
Issuance of common stock in conjunction with the conversion of convertible notes (in shares)			1,456,748
Issuance of common stock in conjunction with the conversion of convertible notes	113,067			113,067
Exercise of bond hedges in conjunction with the conversion of convertible notes (in shares)			(150,299)
Issuance of common stock in connection with business combination (in shares)			41,138
Issuance of common stock in connection with business combination	10,071			10,071
Noncontrolling interests in connection with business combination	48,192								48,192
Ending balance (in shares) at Jun. 30, 2021			457,823,417
Ending balance at Jun. 30, 2021	$ 2,736,701		$ 0	$ 2,632,234		$ 7,838	$ 48,780		$ 47,849

DESCRIPTION OF BUSINESS AND SUM

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Square, Inc. (together with its subsidiaries, "Square" or the "Company") creates tools that empower businesses, sellers and individuals to participate in the economy. Square enables sellers to accept card payments and also provides reporting and analytics, and next-day settlement. Square’s point-of-sale software and other business services help sellers manage inventory, locations, and employees; access financing; engage buyers; build a website or online store; and grow sales. Cash App is an easy way for people to store, send, receive, spend, and invest money. On March 1, 2021, Square Financial Services, Inc. ("Square Financial Services"), a wholly-owned subsidiary of the Company, began its banking operations after its industrial loan company charter was approved by the Federal Deposit Insurance Corporation ("FDIC") and the State of Utah. On April 30, 2021, the Company completed the acquisition of a majority ownership interest in TIDAL, a global music and entertainment platform that brings fans and artists together through unique music, content, and experiences. Square was founded in 2009 and is headquartered in San Francisco, with offices in the United States, Canada, Japan, Australia, Ireland, the United Kingdom, Spain, Lithuania, and Norway. Basis of Presentation The accompanying interim condensed consolidated financial statements of the Company are unaudited. These interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and the applicable rules and regulations of the Securities and Exchange Commission ("SEC") for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The December 31, 2020 condensed consolidated balance sheet was derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to state fairly the Company's consolidated financial position, results of operations, comprehensive income (loss), and cash flows for the interim periods. The condensed consolidated financial statements include the financial statements of Square and its wholly-owned and majority-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Minority interests are recorded as a noncontrolling interest, which is reported as a component of stockholders' equity on the condensed consolidated balance sheets. The interim results for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021, or for any other future annual or interim period. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and related notes in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. Use of Estimates The preparation of the Company’s condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, as well as related disclosure of contingent assets and liabilities. Actual results could differ from the Company’s estimates. To the extent that there are material differences between these estimates and actual results, the Company’s financial condition or operating results will be materially affected. The Company bases its estimates on current and past experience, to the extent that historical experience is predictive of future performance and other assumptions that the Company believes are reasonable under the circumstances. The Company evaluates these estimates on an ongoing basis. Estimates, judgments, and assumptions in these condensed consolidated financial statements include, but are not limited to, those related to revenue recognition, accrued transaction losses, contingencies, valuation of the debt component of convertible senior notes, valuation of loans held for sale including loans under the Paycheck Protection Program ("PPP"), the allowance for loan loss reserves for loans held for investment, valuation of goodwill and acquired intangible assets, deferred revenue, determination of income and other taxes, operating and financing lease right-of-use assets and related liabilities, assessing the likelihood of adverse outcomes from claims and disputes, and share-based compensation. The Company, its employees, and its customers operate in geographic locations in which its business operations and financial performance continues to be impacted by the COVID-19 pandemic. The Company continued to experience improvements in its business as the majority of U.S. markets transitioned to varying states of economic recovery and reopenings. However, the emergence of new and more transmissible variants of COVID-19 could lead to a possible resurgence of the virus, particularly in populations with low vaccination rates, and has resulted in new restrictions in certain geographies and among certain businesses. The Company will continue to monitor the carrying values of its assets or liabilities based on estimates, judgments and circumstances it is aware of and consider the effects and trends of COVID-19. The Company's estimates of accrued transaction losses and valuation of loans held for sale are based on historical experience, adjusted for market data relevant to the current economic environment including COVID-19 trends. The Company will continue to update its estimates as developments occur and additional information is obtained. See Note 11, Other Consolidated Balance Sheet Components (Current) , for further details on transaction losses and Note 5, Fair Value of Financial Instruments , for further details on amortized cost over fair value of the loans. Concentration of Credit Risk For the three and six months ended June 30, 2021 and June 30, 2020, the Company had no customer that accounted for greater than 10% of total net revenue. The Company had two third-party payment processors that represented approximately 49% and 36% of settlements receivable as of June 30, 2021. As of December 31, 2020, there were two parties that represented approximately 59% and 27% of settlements receivable. All other third-party processors were insignificant. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, marketable debt securities, settlements receivable, customer funds, reverse repurchase agreements, loans held for sale, and loans held for investment. The associated risk of concentration for cash and cash equivalents and restricted cash is mitigated by banking with creditworthy institutions. At certain times, amounts on deposit exceed federal deposit insurance limits. The associated risk of concentration for marketable debt securities is mitigated by holding a diversified portfolio of highly rated investments. Settlements receivable are amounts due from well-established payment processing companies and normally take one two Sales and Marketing Expenses Advertising costs are expensed as incurred and included in sales and marketing expense in the condensed consolidated statements of operations. Total advertising costs were $87.4 million and $173.3 million for the three and six months ended June 30, 2021, respectively, compared to $34.0 million and $70.1 million for the three and six months ended June 30, 2020, respectively. In addition, services, incentives, and other costs to customers that are not directly related to a revenue generating transaction are recorded as sales and marketing expenses, as the Company considers these to be marketing costs to encourage the usage of Cash App. These expenses, which include, but are not limited to, Cash App peer-to-peer processing costs and related transaction losses, card issuance costs, customer referral bonuses, and promotional giveaways, were $189.0 million and $372.7 million, for the three and six months ended June 30, 2021, respectively, compared to $149.9 million and $256.7 million for the three and six months ended June 30, 2020, respectively. Recent Accounting Pronouncements Recently adopted accounting pronouncements In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, but only at the beginning of the fiscal year. The Company early adopted the new guidance on January 1, 2021 using the modified retrospective approach and recorded a cumulative effect upon adoption of $103.0 million as a reduction to accumulated deficit and a reduction to other paid in capital of $502.7 million related to amounts attributable to conversion options that had previously been recorded in equity. Additionally, the Company recorded an increase to its convertible notes balance by an aggregate amount of $399.7 million as a result of the reversal of the separation of the convertible debt between debt and equity. The adoption of this standard also significantly decreased the amount of non-cash interest expense to be recognized in future periods as a result of eliminating the discount associated with the equity component. There was no impact to the Company’s statements of cash flows as the result of the adoption of ASU No. 2020-06. In October 2020, the FASB issued ASU No. 2020-10, Codification Improvements ("Codification") . The update provides incremental improvements on various topics in the Codification to provide clarification, correct errors in, and to provide simplification on a variety of topics. Among other items, the guidance includes presentation disclosures for the amount of income tax expense or benefit related to other comprehensive income. The amendments are effective for public entities in fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption is permitted. The Company adopted this guidance effective January 1, 2021 and has applied the guidance prospectively. The adoption of this guidance did not have a material impact on the Company’s financial statements and related disclosures. Recently issued accounting pronouncements not yet adopted

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The following table presents the Company's revenue disaggregated by revenue source (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Revenue from Contracts with Customers: Transaction-based revenue $ 1,227,472 $ 682,572 $ 2,187,205 $ 1,440,673 Subscription and services-based revenue 631,402 328,763 1,156,467 584,646 Hardware revenue 43,726 19,322 72,514 39,997 Bitcoin revenue 2,724,296 875,456 6,235,364 1,181,554 Revenue from other sources: Subscription and services-based revenue 53,776 17,512 86,392 57,864 Total net revenue $ 4,680,672 $ 1,923,625 $ 9,737,942 $ 3,304,734 The deferred revenue balances were as follows (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Deferred revenue, beginning of the period $ 54,726 $ 47,046 $ 51,804 $ 44,331 Deferred revenue, end of the period 59,501 51,549 59,501 51,549 Deferred revenue arising from business combination 5,380 — 5,380 — Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period $ 20,778 $ 16,288 $ 31,743 $ 26,483

INVESTMENTS IN DEBT SECURITIES

INVESTMENTS IN DEBT SECURITIES	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN DEBT SECURITIES	INVESTMENTS IN DEBT SECURITIES The Company's short-term and long-term investments as of June 30, 2021 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 80,250 $ 244 $ (3) $ 80,491 Corporate bonds 287,231 497 (91) 287,637 Commercial paper 153,926 1 — 153,927 Municipal securities 12,565 11 — 12,576 U.S. government securities 424,955 251 (19) 425,187 Foreign government securities 55,080 57 (52) 55,085 Total $ 1,014,007 $ 1,061 $ (165) $ 1,014,903 Long-term debt securities: U.S. agency securities $ 152,423 $ 203 $ (92) $ 152,534 Corporate bonds 475,462 519 (781) 475,200 Municipal securities 16,890 18 (13) 16,895 U.S. government securities 276,984 226 (293) 276,917 Foreign government securities 25,450 101 (4) 25,547 Total $ 947,209 $ 1,067 $ (1,183) $ 947,093 The Company's short-term and long-term investments as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 153,386 $ 782 $ (164) $ 154,004 Corporate bonds 76,957 256 (14) 77,199 Commercial paper 4,999 — — 4,999 Municipal securities 10,377 57 (3) 10,431 U.S. government securities 404,194 1,244 (4) 405,434 Foreign government securities 42,988 139 (82) 43,045 Total $ 692,901 $ 2,478 $ (267) $ 695,112 Long-term debt securities: U.S. agency securities $ 168,762 $ 519 $ (3) $ 169,278 Corporate bonds 174,655 1,401 (42) 176,014 Municipal securities 1,045 15 — 1,060 U.S. government securities 91,642 433 (2) 92,073 Foreign government securities 25,351 184 (10) 25,525 Total $ 461,455 $ 2,552 $ (57) $ 463,950 The amortized cost of investments classified as cash equivalents approximated the fair value due to the short-term nature of the investments. The Company's gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2021 and December 31, 2020, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): June 30, 2021 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 17,296 $ (3) $ — $ — $ 17,296 $ (3) Corporate bonds 171,862 (82) 1,536 (9) 173,398 (91) U.S. government securities 185,890 (19) — — 185,890 (19) Foreign government securities 32,613 (52) — — 32,613 (52) Total $ 407,661 $ (156) $ 1,536 $ (9) $ 409,197 $ (165) Long-term debt securities: U.S. agency securities $ 91,041 $ (92) $ — $ — $ 91,041 $ (92) Corporate bonds 344,305 (781) — — 344,305 (781) Municipal securities 12,499 (13) — — 12,499 (13) U.S. government securities 245,982 (293) — — 245,982 (293) Foreign government securities 13,262 (4) — — 13,262 (4) Total $ 707,089 $ (1,183) $ — $ — $ 707,089 $ (1,183) December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 41,711 $ (162) $ 2,505 $ (2) $ 44,216 $ (164) Corporate bonds 15,255 (14) — — 15,255 (14) Municipal securities 2,566 (3) — — 2,566 (3) U.S. government securities 45,970 (4) — — 45,970 (4) Foreign government securities 21,341 (82) — — 21,341 (82) Total $ 126,843 $ (265) $ 2,505 $ (2) $ 129,348 $ (267) Long-term debt securities: U.S. agency securities $ 1,406 $ (3) $ — $ — $ 1,406 $ (3) Corporate bonds 28,189 (42) — — 28,189 (42) U.S. government securities 8,658 (2) — — 8,658 (2) Foreign government securities 10,929 (10) — — 10,929 (10) Total $ 49,182 $ (57) $ — $ — $ 49,182 $ (57) The U.S. government and U.S. agency securities are either explicitly or implicitly guaranteed by the U.S. government and are highly rated by major rating agencies. The corporate bonds are issued by highly rated entities. The foreign government securities are issued by highly rated international entities. The Company has the ability and intent to hold these investments with unrealized losses for a reasonable period of time sufficient for the recovery of their amortized cost bases, which may be at maturity. The Company determines any realized gains or losses on the sale of marketable debt securities on a specific identification method, and records such gains and losses as a component of other expense, net. The Company does not have any available for sale debt securities for which the Company has recorded credit related losses. The contractual maturities of the Company's short-term and long-term investments as of June 30, 2021 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 1,014,007 $ 1,014,903 Due in one to five years 947,209 947,093 Total $ 1,961,216 $ 1,961,996 The following table presents the assets underlying customer funds (in thousands): June 30, 2021 December 31, 2020 Cash $ 113,223 $ 145,577 Customer funds in transit — 262,562 Cash Equivalents: Money market funds 1,550,445 777,193 Reverse repurchase agreement (i) 654,928 246,880 U.S. agency securities 5,700 47,300 U.S. government securities 24,999 111,796 Short-term debt securities: U.S. agency securities 80,086 113,178 U.S. government securities 418,096 333,346 Total $ 2,847,477 $ 2,037,832 (i) The Company has accounted for the reverse repurchase agreement with a third party as an overnight lending arrangement, collateralized by the securities subject to the repurchase agreement. The Company classifies the amounts due from the counterparty as cash equivalents due to the short-term nature. The Company's investments within customer funds as of June 30, 2021 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 80,092 $ 1 $ (7) $ 80,086 U.S. government securities 418,119 17 (40) 418,096 Total $ 498,211 $ 18 $ (47) $ 498,182 The Company's investments within customer funds as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 113,156 $ 22 $ — $ 113,178 U.S. government securities 333,323 28 (5) 333,346 Total $ 446,479 $ 50 $ (5) $ 446,524 The amortized cost of investments classified as cash equivalents approximated the fair value due to the short-term nature of the investments. The gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2021 and December 31, 2020, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): June 30, 2021 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 30,091 $ (7) $ — $ — $ 30,091 $ (7) U.S. government securities 220,980 (40) — — 220,980 (40) Total $ 251,071 $ (47) $ — $ — $ 251,071 $ (47) December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. government securities $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) Total $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) The unrealized losses above were caused by interest rate changes. The U.S. government securities are either explicitly or implicitly guaranteed by the U.S. government and are highly rated by major rating agencies. The Company has the ability and intent to hold these investments with unrealized losses for a reasonable period of time sufficient for the recovery of their amortized cost bases, which may be at maturity. The Company determines any realized gains or losses on the sale of marketable debt securities on a specific identification method, and records such gains and losses as a component of other expense, net. The Company does not have any available for sale debt securities for which the Company has recorded credit related losses. The contractual maturities of the Company's investments within customer funds as of June 30, 2021 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 498,211 $ 498,182 Due in one to five years — — Total $ 498,211 $ 498,182

CUSTOMER FUNDS

CUSTOMER FUNDS	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
CUSTOMER FUNDS	INVESTMENTS IN DEBT SECURITIES The Company's short-term and long-term investments as of June 30, 2021 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 80,250 $ 244 $ (3) $ 80,491 Corporate bonds 287,231 497 (91) 287,637 Commercial paper 153,926 1 — 153,927 Municipal securities 12,565 11 — 12,576 U.S. government securities 424,955 251 (19) 425,187 Foreign government securities 55,080 57 (52) 55,085 Total $ 1,014,007 $ 1,061 $ (165) $ 1,014,903 Long-term debt securities: U.S. agency securities $ 152,423 $ 203 $ (92) $ 152,534 Corporate bonds 475,462 519 (781) 475,200 Municipal securities 16,890 18 (13) 16,895 U.S. government securities 276,984 226 (293) 276,917 Foreign government securities 25,450 101 (4) 25,547 Total $ 947,209 $ 1,067 $ (1,183) $ 947,093 The Company's short-term and long-term investments as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 153,386 $ 782 $ (164) $ 154,004 Corporate bonds 76,957 256 (14) 77,199 Commercial paper 4,999 — — 4,999 Municipal securities 10,377 57 (3) 10,431 U.S. government securities 404,194 1,244 (4) 405,434 Foreign government securities 42,988 139 (82) 43,045 Total $ 692,901 $ 2,478 $ (267) $ 695,112 Long-term debt securities: U.S. agency securities $ 168,762 $ 519 $ (3) $ 169,278 Corporate bonds 174,655 1,401 (42) 176,014 Municipal securities 1,045 15 — 1,060 U.S. government securities 91,642 433 (2) 92,073 Foreign government securities 25,351 184 (10) 25,525 Total $ 461,455 $ 2,552 $ (57) $ 463,950 The amortized cost of investments classified as cash equivalents approximated the fair value due to the short-term nature of the investments. The Company's gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2021 and December 31, 2020, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): June 30, 2021 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 17,296 $ (3) $ — $ — $ 17,296 $ (3) Corporate bonds 171,862 (82) 1,536 (9) 173,398 (91) U.S. government securities 185,890 (19) — — 185,890 (19) Foreign government securities 32,613 (52) — — 32,613 (52) Total $ 407,661 $ (156) $ 1,536 $ (9) $ 409,197 $ (165) Long-term debt securities: U.S. agency securities $ 91,041 $ (92) $ — $ — $ 91,041 $ (92) Corporate bonds 344,305 (781) — — 344,305 (781) Municipal securities 12,499 (13) — — 12,499 (13) U.S. government securities 245,982 (293) — — 245,982 (293) Foreign government securities 13,262 (4) — — 13,262 (4) Total $ 707,089 $ (1,183) $ — $ — $ 707,089 $ (1,183) December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 41,711 $ (162) $ 2,505 $ (2) $ 44,216 $ (164) Corporate bonds 15,255 (14) — — 15,255 (14) Municipal securities 2,566 (3) — — 2,566 (3) U.S. government securities 45,970 (4) — — 45,970 (4) Foreign government securities 21,341 (82) — — 21,341 (82) Total $ 126,843 $ (265) $ 2,505 $ (2) $ 129,348 $ (267) Long-term debt securities: U.S. agency securities $ 1,406 $ (3) $ — $ — $ 1,406 $ (3) Corporate bonds 28,189 (42) — — 28,189 (42) U.S. government securities 8,658 (2) — — 8,658 (2) Foreign government securities 10,929 (10) — — 10,929 (10) Total $ 49,182 $ (57) $ — $ — $ 49,182 $ (57) The U.S. government and U.S. agency securities are either explicitly or implicitly guaranteed by the U.S. government and are highly rated by major rating agencies. The corporate bonds are issued by highly rated entities. The foreign government securities are issued by highly rated international entities. The Company has the ability and intent to hold these investments with unrealized losses for a reasonable period of time sufficient for the recovery of their amortized cost bases, which may be at maturity. The Company determines any realized gains or losses on the sale of marketable debt securities on a specific identification method, and records such gains and losses as a component of other expense, net. The Company does not have any available for sale debt securities for which the Company has recorded credit related losses. The contractual maturities of the Company's short-term and long-term investments as of June 30, 2021 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 1,014,007 $ 1,014,903 Due in one to five years 947,209 947,093 Total $ 1,961,216 $ 1,961,996 The following table presents the assets underlying customer funds (in thousands): June 30, 2021 December 31, 2020 Cash $ 113,223 $ 145,577 Customer funds in transit — 262,562 Cash Equivalents: Money market funds 1,550,445 777,193 Reverse repurchase agreement (i) 654,928 246,880 U.S. agency securities 5,700 47,300 U.S. government securities 24,999 111,796 Short-term debt securities: U.S. agency securities 80,086 113,178 U.S. government securities 418,096 333,346 Total $ 2,847,477 $ 2,037,832 (i) The Company has accounted for the reverse repurchase agreement with a third party as an overnight lending arrangement, collateralized by the securities subject to the repurchase agreement. The Company classifies the amounts due from the counterparty as cash equivalents due to the short-term nature. The Company's investments within customer funds as of June 30, 2021 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 80,092 $ 1 $ (7) $ 80,086 U.S. government securities 418,119 17 (40) 418,096 Total $ 498,211 $ 18 $ (47) $ 498,182 The Company's investments within customer funds as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 113,156 $ 22 $ — $ 113,178 U.S. government securities 333,323 28 (5) 333,346 Total $ 446,479 $ 50 $ (5) $ 446,524 The amortized cost of investments classified as cash equivalents approximated the fair value due to the short-term nature of the investments. The gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2021 and December 31, 2020, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): June 30, 2021 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 30,091 $ (7) $ — $ — $ 30,091 $ (7) U.S. government securities 220,980 (40) — — 220,980 (40) Total $ 251,071 $ (47) $ — $ — $ 251,071 $ (47) December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. government securities $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) Total $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) The unrealized losses above were caused by interest rate changes. The U.S. government securities are either explicitly or implicitly guaranteed by the U.S. government and are highly rated by major rating agencies. The Company has the ability and intent to hold these investments with unrealized losses for a reasonable period of time sufficient for the recovery of their amortized cost bases, which may be at maturity. The Company determines any realized gains or losses on the sale of marketable debt securities on a specific identification method, and records such gains and losses as a component of other expense, net. The Company does not have any available for sale debt securities for which the Company has recorded credit related losses. The contractual maturities of the Company's investments within customer funds as of June 30, 2021 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 498,211 $ 498,182 Due in one to five years — — Total $ 498,211 $ 498,182

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTSThe Company measures its cash equivalents, customer funds, short-term and long-term marketable debt securities, and marketable equity investment at fair value. The Company classifies these investments within Level 1 or Level 2 of the fair value hierarchy because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs. The Company’s financial assets and liabilities that are measured at fair value on a recurring basis are classified as follows (in thousands): June 30, 2021 December 31, 2020 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Cash Equivalents: Money market funds $ 2,473,688 $ — $ — $ 1,694,736 $ — $ — U.S. agency securities — — — — 41,186 — Commercial paper — 56,491 — — — — Corporate bonds — 1,409 — — — — U.S. government securities 32,999 — — 15,000 — — Customer funds: Money market funds 1,550,445 — — 777,193 — — Reverse repurchase agreement 654,928 — — 246,880 — — U.S. agency securities — 85,786 — — 160,478 — U.S. government securities 443,095 — — 445,142 — — Short-term debt securities: U.S. agency securities — 80,491 — — 154,004 — Corporate bonds — 287,637 — — 77,199 — Commercial paper — 153,927 — — 4,999 — Municipal securities — 12,576 — — 10,431 — U.S. government securities 425,187 — — 405,434 — — Foreign government securities — 55,085 — — 43,045 — Long-term debt securities: U.S. agency securities — 152,534 — — 169,278 — Corporate bonds — 475,200 — — 176,014 — Municipal securities — 16,895 — — 1,060 — U.S. government securities 276,917 — — 92,073 — — Foreign government securities — 25,547 — — 25,525 — Other: Investment in marketable equity security — — — 376,258 — — Total $ 5,857,259 $ 1,403,578 $ — $ 4,052,716 $ 863,219 $ — The carrying amounts of certain financial instruments, including settlements receivable, loans held for investment, accounts payable, customers payable, accrued expenses and settlements payable, approximate their fair values due to their short-term nature. The Company estimates the fair value of its convertible senior notes based on their last actively traded prices (Level 1) or market observable inputs (Level 2). The estimated fair value and carrying value of the convertible senior notes were as follows (in thousands): June 30, 2021 December 31, 2020 Carrying Value Fair Value (Level 2) Carrying Value Fair Value (Level 2) 2031 Senior Notes $ 986,069 $ 1,009,930 $ — $ — 2026 Senior Notes 986,224 1,017,950 — — 2027 Convertible Notes 566,540 671,157 458,496 644,000 2026 Convertible Notes 566,769 649,290 482,204 638,250 2025 Convertible Notes 988,835 2,072,100 858,332 1,912,440 2023 Convertible Notes 746,837 2,371,017 780,046 2,417,820 2022 Convertible Notes 4,681 49,857 7,846 80,731 Total $ 4,845,955 $ 7,841,301 $ 2,586,924 $ 5,693,241 The estimated fair value and carrying value of loans held for sale is as follows (in thousands): June 30, 2021 December 31, 2020 Carrying Value Fair Value (Level 3) Carrying Value Fair Value (Level 3) Loans held for sale $ 807,402 $ 912,254 $ 462,665 $ 467,805 As of June 30, 2021, $690.7 million of the carrying value of loans held for sale was attributable to loans under the PPP. As the loans under the PPP qualify for forgiveness if certain criteria are met or are guaranteed by the U.S. government through the Small Business Administration ("SBA"), the related credit losses as of June 30, 2021 were immaterial. As of June 30, 2021, $336.6 million in PPP loans held for sale have been forgiven by the SBA, of which $134.9 million and $290.3 million have been forgiven in the three and six months ended June 30, 2021, respectively. The loan forgiveness resulted in the recognition of $14.9 million and $24.3 million revenue associated with the forgiveness of the PPP loans for the three and six months ended June 30, 2021, respectively. The Company approved and funded the last of its remaining PPP applications upon exhaustion of the funds in the program on May 21, 2021. For the three and six months ended June 30, 2021, the Company recorded a charge for the excess of amortized cost over fair value of the loans of $0.7 million and $1.6 million, respectively. For the three and six months ended June 30, 2020, the Company recorded a charge for the excess of amortized cost over fair value of the loans of $0.5 million and $22.5 million, respectively. To determine the fair value of the loans held for sale, the Company utilizes industry-standard valuation modeling, such as discounted cash flow models, taking into account the estimated timing and amounts of periodic repayments. In estimating the expected timing and amounts of the future periodic repayments for the loans outstanding as of June 30, 2021, the Company considered other relevant market data in developing such estimates and assumptions, including the continuing impact of the COVID-19 pandemic. With respect to PPP loans, the Company also considers the impact of government guarantees and loan forgiveness on the timing and amounts of future cash flows. As of June 30, 2021, there were no material changes to our estimates, and the Company will continue to evaluate facts and circumstances that could impact our estimates and affect our results of operations in future periods. If applicable, the Company will recognize transfers into and out of levels within the fair value hierarchy at the end of the reporting period in which the actual event or change in circumstance occurs. During the three and six months ended June 30, 2021 and 2020, the Company did not have any transfers in or out of Level 1, Level 2, or Level 3 assets or liabilities.

LOANS HELD FOR INVESTMENT

LOANS HELD FOR INVESTMENT	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
LOANS HELD FOR INVESTMENT	LOANS HELD FOR INVESTMENT In April 2021, the Company began originating loans in the U.S. through its wholly-owned subsidiary bank, Square Financial Services. The Company sells the majority of the loans to institutional investors with a portion retained on its balance sheet. Loans retained by the Company are classified as held for investment as the Company has both the intent and ability to hold them for the foreseeable future, or until maturity or payoff. The Company’s intent and ability in the future may change based on changes in business strategies, the economic environment, and market conditions. As of June 30, 2021, the Company held $33.1 million as loans held for investment, net within other current assets on the condensed consolidated balance sheet, see Note 11, Other Consolidated Balance Sheet Components . Loans held for investment are recorded at amortized cost, less an allowance for potential uncollectible amounts. Amortized cost basis represents principal amounts outstanding, net of unearned income, unamortized deferred fees and costs on originated loans, premiums or discounts on purchased loans and charge-offs. The Company calculates an allowance for losses on the loans held for investment portfolio in accordance with ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The guidance requires an entity to assess impairment of its financial instruments based on the entity's current estimates of expected credit losses over the contractual term of its loans held for investment portfolio as of each balance sheet date. The Company determines the allowance for loan losses using both quantitative and qualitative methods and considers all available information relevant to assessing collectability. This includes but is not limited to: historical loss and recovery experience, recent and historical trends in delinquencies, past-due loans and charge-offs, borrower behavior and repayment speed, underwriting and collection management changes, changes in the legal and regulatory environment, changes in risk and underwriting standards, current and historical macroeconomic conditions such as changes in unemployment and GDP, and various other factors that may affect the sellers’ ability to make future payments. There were no charge-offs or recoveries recorded as of June 30, 2021. The allowance for loan losses as of June 30, 2021 was immaterial. The Company considers loans that are greater than 60 days past due to be delinquent, and loans 90 days or more past due to be nonperforming. When a loan is identified as nonperforming, recognition of income is discontinued. Loans are restored to performing status after total overdue unpaid amounts are repaid and the Company has reasonable assurance that performance under the terms of the loan will continue. As of June 30, 2021, the Company had no loans that were identified as nonperforming loans.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	PROPERTY AND EQUIPMENT, NET The following is a summary of property and equipment, less accumulated depreciation and amortization (in thousands): June 30, 2021 December 31, 2020 Leasehold improvements $ 192,619 $ 168,125 Computer equipment 156,205 139,174 Capitalized software 139,033 119,452 Office furniture and equipment 39,531 34,890 Total 527,388 461,641 Less: Accumulated depreciation and amortization (266,505) (228,121) Property and equipment, net $ 260,883 $ 233,520

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS The purchase consideration was comprised of $227.2 million in cash and 41,138 shares of the Company’s Class A common stock with an aggregate fair value of $10.1 million based on the closing price of the Company’s Class A common stock on the acquisition date. The purchase consideration is subject to adjustments for the final determination of the closing working capital. Third-party acquisition-related costs were immaterial. The results of TIDAL’s operations have been included in the condensed consolidated financial statements since the closing date. The acquisition was accounted for as a business combination. This method requires, among other things, that assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date and that the difference between the fair value of the consideration paid for the acquired entity and the fair value of the net assets acquired be recorded as goodwill, which is not amortized but is tested at least annually for impairment. The table below summarizes the consideration paid for TIDAL and the preliminary assessment of the fair value of the assets acquired and liabilities assumed at the closing date (in thousands, except share data).The Company is in the process of completing the determination of the fair values of certain tangible and intangible assets acquired, liabilities assumed and noncontrolling interests, including reviewing third party valuations, and accordingly, the preliminary values reflected in the table are subject to change. These changes will primarily relate to the fair value assigned to intangible assets acquired, royalty liabilities assumed, and evaluation of contingencies and tax effects related to the acquisition. Consideration: Cash $ 176,663 Deferred consideration 50,528 Stock (41,138 shares of Class A common stock) 10,071 $ 237,262 Recognized amounts of identifiable assets acquired and liabilities assumed: Current assets (inclusive of cash acquired of $12,358) $ 33,294 Intangible customer assets 69,000 Intangible technology assets 29,000 Intangible trade name 35,000 Intangible other assets 8,000 Other non-current assets 33,747 Accrued expenses and other current liabilities (67,789) Other non-current liabilities (39,625) Total identifiable net assets acquired 100,627 Noncontrolling interests (48,192) Goodwill 184,827 Total $ 237,262 Goodwill from the acquisition was primarily attributable to the value of expected synergies created by incorporating TIDAL solutions into the Company's technology platform and the value of the assembled workforce. An estimated amount of approximately $88.5 million of the goodwill generated from the TIDAL acquisition and approximately $111 million of the acquired intangible assets are expected to be deductible for US tax purposes based on the preliminary values. Additionally the acquisition would have resulted in the recognition of US deferred tax assets; however, the realization of such deferred tax assets depends primarily on the Company's post-acquisition ability to generate taxable income in future periods of which there is not sufficient evidence of such income as of June 30, 2021. Accordingly, a valuation allowance was recorded against the net acquired deferred tax asset in accounting for the acquisition. Deferred consideration in the aggregate amount of $50.5 million relates to pre-acquisition contingencies, and include the portion of purchase consideration withheld, for a period of up to 4 years, as security for indemnification obligations that TIDAL has provided related to general representations and warranties, in addition to certain potential exposures. The Company recognized certain liabilities for acquired pre-existing potential exposures, and an indemnification receivable in the amount of $24.5 million has been recorded related to such exposures in accordance with the terms of the indemnification agreement. Such amounts may change depending on the outcomes associated with the exposures, including the determination of claims that would be attributed to pre-acquisition matters. The amounts have been determined in accordance with ASC 740, Income Taxes , and ASC 450, Contingencies . In addition to the deferred consideration, an additional amount of $30.5 million in purchase consideration has been withheld related to defined post-acquisition activities. Because these amounts relate to post-acquisition activities, in accordance with ASC 805, Business Combinations , such amounts will be recognized as expenses in future periods, as incurred. The acquisition of TIDAL did not have a material impact on the Company's condensed consolidated financial statements. Accordingly, pro forma financial information has not been presented.

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2021
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 carrying value of goodwill in the period was as follows (in thousands): Balance at December 31, 2020 $ 316,701 Acquisitions 184,827 Other (128) Balance at June 30, 2021 $ 501,400 The Company performs an annual goodwill impairment test on December 31 and more frequently if events and circumstances indicate that the asset might be impaired. The Company has two operating and reportable segments, which are Seller and Cash App (defined further in Note 19, Segment and Geographical Information ). The change in carrying value of goodwill allocated to the reportable segments in the period was as follows (in thousands): Cash App Seller Corporate and Other Total Balance at December 31, 2020 $ 128,838 $ 187,863 $ — $ 316,701 Acquisitions — — 184,827 184,827 Other (128) — — (128) Balance at June 30, 2021 $ 128,710 $ 187,863 $ 184,827 $ 501,400

ACQUIRED INTANGIBLE ASSETS

ACQUIRED INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
ACQUIRED INTANGIBLE ASSETS	ACQUIRED INTANGIBLE ASSETS The following table presents the detail of acquired intangible assets as of the periods presented (in thousands): Balance at June 30, 2021 Weighted Average Estimated Useful Life Cost Accumulated Amortization Net Technology assets 5 years $ 148,540 $ (52,652) $ 95,888 Customer assets 15 years 127,422 (14,367) 113,055 Trade name 9 years 53,340 (10,534) 42,806 Other 9 years 13,720 (3,273) 10,447 Total $ 343,022 $ (80,826) $ 262,196 Balance at December 31, 2020 Weighted Average Estimated Useful Life Cost Accumulated Amortization Net Technology assets 5 years $ 119,508 $ (43,084) $ 76,424 Customer assets 11 years 58,556 (10,796) 47,760 Trade name 6 years 18,529 (8,031) 10,498 Other 8 years 5,733 (2,803) 2,930 Total $ 202,326 $ (64,714) $ 137,612 All intangible assets are amortized over their estimated useful lives. The changes to the carrying value of intangible assets were as follows (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Acquired intangible assets, net, beginning of the period $ 129,796 $ 81,936 $ 137,612 $ 69,079 Acquisitions 141,000 22,000 141,000 39,009 Amortization expense (9,234) (4,134) (16,118) (8,286) Other 634 — (298) — Acquired intangible assets, net, end of the period $ 262,196 $ 99,802 $ 262,196 $ 99,802 The estimated future amortization expense of intangible assets in future periods as of June 30, 2021 is as follows (in thousands): Remainder of 2021 $ 20,781 2022 39,535 2023 38,284 2024 35,306 2025 28,479 Thereafter 99,811 Total $ 262,196

OTHER CONSOLIDATED BALANCE SHEE

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)	6 Months Ended
	Jun. 30, 2021
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): June 30, 2021 December 31, 2020 Loans held for investment, net of allowance for loan losses (i) $ 33,130 $ — Inventory, net 58,786 61,129 Restricted cash 15,088 30,279 Processing costs receivable 213,014 148,606 Prepaid expenses 55,658 34,279 Accounts receivable, net 75,266 41,960 Other 142,520 66,814 Total $ 593,462 $ 383,067 (i) In April 2021, the Company began originating loans in the U.S. through its wholly-owned subsidiary bank, Square Financial Services, Inc., and discontinued a prior arrangement with an industrial bank partner. Refer to Note 6, Loans Held for Investment for further details . Accrued Expenses and Other Current Liabilities The following table presents the detail of accrued expenses and other current liabilities (in thousands): June 30, 2021 December 31, 2020 Accrued expenses $ 169,166 $ 126,710 Square Payroll payable (i) 67,236 16,990 Accrued royalties 48,454 — Accrued transaction losses (ii) 48,480 70,557 Accounts payable 55,053 47,089 Deferred revenue, current 52,389 44,908 Current portion of long-term debt 4,681 — Other 70,354 54,596 Total $ 515,813 $ 360,850 (i) Square Payroll payable represents amounts received from Square Payroll product customers that will be utilized to settle the customers' employee payroll and related obligations. (ii) 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 Six Months Ended 2021 2020 2021 2020 Accrued transaction losses, beginning of the period $ 48,622 $ 96,661 $ 70,557 $ 34,771 Provision for transaction losses 27,784 32,770 21,042 112,073 Charge-offs to accrued transaction losses (27,926) (20,370) (43,119) (37,783) Accrued transaction losses, end of the period $ 48,480 $ 109,061 $ 48,480 $ 109,061 In addition to amounts reflected in the table above, the Company recognized additional provision for transaction losses that were realized and written-off within the same period. The Company recorded $80.3 million and $162.4 million for the three and six months ended June 30, 2021, respectively, compared to $58.3 million and $97.0 million for the three and six months ended June 30, 2020, respectively, for such losses. Other Non-Current Assets The following table presents the detail of other non-current assets (in thousands): June 30, 2021 December 31, 2020 Investment in non-marketable equity securities (i) $ 86,971 $ 32,510 Investment in marketable equity security (ii) — 376,258 Investment in bitcoin, net (iii) 154,888 50,000 Restricted cash 74,569 13,526 Other 66,176 26,956 Total $ 382,604 $ 499,250 (i) Investment in non-marketable equity securities includes the Company's investments in equity instruments 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. Additionally, the Company holds a non-marketable common stock warrant in a public entity. The warrant is carried at fair value, with changes in fair value being recorded within other expense (income), net on the condensed consolidated statement of operations. (ii) In December 2020, upon completion of the initial public offering of DoorDash Inc. ("DoorDash"), the shares of preferred stock held by the Company converted into Class A common stock of DoorDash. The investment was carried at fair value, with changes in fair value being recorded within other income or expense on the condensed consolidated statement of operations. During the three and six months ended June 30, 2021, the Company recorded net gains of $73.3 million and $44.4 million, respectively, arising from the revaluation of the investment. In June 2021, the Company completed the sale of its remaining investment in DoorDash and it will have no further impact on the Company's results in future periods. (iii) The Company invested $50.0 million and $170.0 million in bitcoin in the fourth quarter of 2020 and the first quarter of 2021, respectively. Bitcoin is accounted for as an indefinite lived intangible asset, and thus, is subject to impairment losses if the fair value of bitcoin decreases below the carrying value during the assessed period. Impairment losses cannot be recovered for any subsequent increase in fair value until the sale of the asset. In the second quarter of 2021, the Company began lending a portion of its bitcoin investments to third parties. As of June 30, 2021, $6.3 million of the Company's investments in bitcoin had been loaned to third party borrowers. Bitcoin is an indefinite-lived intangible asset and under the terms of the lending arrangement it must be returned to the Company. As such, the bitcoin lent will not be derecognized and will continue to be carried at cost less impairment losses. Income generated from the lending arrangement is recorded in other expense (income), net on the condensed consolidated statements of operations. The Company recorded impairment charges of $45.3 million and $65.1 million in the three and six months ended June 30, 2021 due to the observed market price of bitcoin decreasing below the carrying value during the period. As of June 30, 2021, the fair value of the investment in bitcoin was $281.4 million based on observable market prices which is $126.5 million in excess of the Company's carrying value of $154.9 million. Other Non-Current Liabilities The following table presents the detail of other non-current liabilities (in thousands): June 30, 2021 December 31, 2020 Statutory liabilities (i) $ 125,849 $ 75,370 Other 60,520 9,921 Total $ 186,369 $ 85,291 (i) Statutory liabilities represent loss contingencies that may arise from the Company's interpretation and application of certain guidelines and rules issued by various federal, state, local, and foreign regulatory authorities.

OTHER CONSOLIDATED BALANCE SH_2

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)	OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) Other Current Assets The following table presents the detail of other current assets (in thousands): June 30, 2021 December 31, 2020 Loans held for investment, net of allowance for loan losses (i) $ 33,130 $ — Inventory, net 58,786 61,129 Restricted cash 15,088 30,279 Processing costs receivable 213,014 148,606 Prepaid expenses 55,658 34,279 Accounts receivable, net 75,266 41,960 Other 142,520 66,814 Total $ 593,462 $ 383,067 (i) In April 2021, the Company began originating loans in the U.S. through its wholly-owned subsidiary bank, Square Financial Services, Inc., and discontinued a prior arrangement with an industrial bank partner. Refer to Note 6, Loans Held for Investment for further details . Accrued Expenses and Other Current Liabilities The following table presents the detail of accrued expenses and other current liabilities (in thousands): June 30, 2021 December 31, 2020 Accrued expenses $ 169,166 $ 126,710 Square Payroll payable (i) 67,236 16,990 Accrued royalties 48,454 — Accrued transaction losses (ii) 48,480 70,557 Accounts payable 55,053 47,089 Deferred revenue, current 52,389 44,908 Current portion of long-term debt 4,681 — Other 70,354 54,596 Total $ 515,813 $ 360,850 (i) Square Payroll payable represents amounts received from Square Payroll product customers that will be utilized to settle the customers' employee payroll and related obligations. (ii) 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 Six Months Ended 2021 2020 2021 2020 Accrued transaction losses, beginning of the period $ 48,622 $ 96,661 $ 70,557 $ 34,771 Provision for transaction losses 27,784 32,770 21,042 112,073 Charge-offs to accrued transaction losses (27,926) (20,370) (43,119) (37,783) Accrued transaction losses, end of the period $ 48,480 $ 109,061 $ 48,480 $ 109,061 In addition to amounts reflected in the table above, the Company recognized additional provision for transaction losses that were realized and written-off within the same period. The Company recorded $80.3 million and $162.4 million for the three and six months ended June 30, 2021, respectively, compared to $58.3 million and $97.0 million for the three and six months ended June 30, 2020, respectively, for such losses. Other Non-Current Assets The following table presents the detail of other non-current assets (in thousands): June 30, 2021 December 31, 2020 Investment in non-marketable equity securities (i) $ 86,971 $ 32,510 Investment in marketable equity security (ii) — 376,258 Investment in bitcoin, net (iii) 154,888 50,000 Restricted cash 74,569 13,526 Other 66,176 26,956 Total $ 382,604 $ 499,250 (i) Investment in non-marketable equity securities includes the Company's investments in equity instruments 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. Additionally, the Company holds a non-marketable common stock warrant in a public entity. The warrant is carried at fair value, with changes in fair value being recorded within other expense (income), net on the condensed consolidated statement of operations. (ii) In December 2020, upon completion of the initial public offering of DoorDash Inc. ("DoorDash"), the shares of preferred stock held by the Company converted into Class A common stock of DoorDash. The investment was carried at fair value, with changes in fair value being recorded within other income or expense on the condensed consolidated statement of operations. During the three and six months ended June 30, 2021, the Company recorded net gains of $73.3 million and $44.4 million, respectively, arising from the revaluation of the investment. In June 2021, the Company completed the sale of its remaining investment in DoorDash and it will have no further impact on the Company's results in future periods. (iii) The Company invested $50.0 million and $170.0 million in bitcoin in the fourth quarter of 2020 and the first quarter of 2021, respectively. Bitcoin is accounted for as an indefinite lived intangible asset, and thus, is subject to impairment losses if the fair value of bitcoin decreases below the carrying value during the assessed period. Impairment losses cannot be recovered for any subsequent increase in fair value until the sale of the asset. In the second quarter of 2021, the Company began lending a portion of its bitcoin investments to third parties. As of June 30, 2021, $6.3 million of the Company's investments in bitcoin had been loaned to third party borrowers. Bitcoin is an indefinite-lived intangible asset and under the terms of the lending arrangement it must be returned to the Company. As such, the bitcoin lent will not be derecognized and will continue to be carried at cost less impairment losses. Income generated from the lending arrangement is recorded in other expense (income), net on the condensed consolidated statements of operations. The Company recorded impairment charges of $45.3 million and $65.1 million in the three and six months ended June 30, 2021 due to the observed market price of bitcoin decreasing below the carrying value during the period. As of June 30, 2021, the fair value of the investment in bitcoin was $281.4 million based on observable market prices which is $126.5 million in excess of the Company's carrying value of $154.9 million. Other Non-Current Liabilities The following table presents the detail of other non-current liabilities (in thousands): June 30, 2021 December 31, 2020 Statutory liabilities (i) $ 125,849 $ 75,370 Other 60,520 9,921 Total $ 186,369 $ 85,291 (i) Statutory liabilities represent loss contingencies that may arise from the Company's interpretation and application of certain guidelines and rules issued by various federal, state, local, and foreign regulatory authorities.

INDEBTEDNESS

INDEBTEDNESS	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
INDEBTEDNESS	INDEBTEDNESS Revolving Credit Facility In May 2020, the Company entered into a revolving credit agreement with certain lenders, which provided a $500.0 million senior unsecured revolving credit facility (the "2020 Credit Facility") maturing in May 2023. On May 28, 2020, the Company amended the credit agreement for the 2020 Credit Facility (the "Credit Agreement") to permit the Company’s wholly owned subsidiary, Square Capital, LLC (“Square Capital”), to incur indebtedness in an aggregate principal amount of up to $500.0 million pursuant to the Paycheck Protection Program Liquidity Facility (“PPPLF”) authorized under the Federal Reserve Act of 1913. In connection with its convertible debt offerings in November 2020, the Company entered into a second amendment to the Credit Agreement on November 9, 2020 to permit convertible debt in an aggregate principal amount not to exceed $3.6 billion. On January, 28, 2021, the Company entered into a third amendment to the Credit Agreement to increase the amount of indebtedness that Square Capital is permitted to incur pursuant to the PPPLF from an aggregate principal amount of up to $500 million to an aggregate principal amount of up to $1.0 billion. On May 25, 2021, the Company entered into a fourth amendment to the Credit Agreement to, among other things, extend the maturity date of the loans advanced to May 1, 2024. The Credit Agreement also contains a financial covenant that requires the Company to maintain a quarterly minimum liquidity amount (consisting of the sum of Unrestricted cash and Cash Equivalents plus Marketable Securities, each as defined in the Credit Agreement) of at least $250.0 million, tested on a quarterly basis. The Company is obligated to pay customary fees for a credit facility of this size and type including an unused commitment fee of 0.15%. To date no funds have been drawn and no letters of credit have been issued under the 2020 Credit Facility. As of June 30, 2021, $500.0 million remained available for draw. The Company incurred $0.2 million and $0.4 million in unused commitment fees during the three and six months ended June 30, 2021, respectively, compared to $0.1 million for the three and six months ended June 30, 2020, respectively. As of June 30, 2021, the Company was in compliance with all financial covenants associated with the 2020 Credit Facility. Loans under the 2020 Credit Facility bear interest at the Company's option of (i) a base rate based on the highest of the prime rate, the federal funds rate plus 0.50%, and the adjusted LIBOR rate plus 1.00%, in each case, plus a margin ranging from 0.25% to 0.75% or (ii) an adjusted LIBOR rate plus a margin ranging from 1.25% to 1.75%. The Credit Agreement includes provisions allowing the Company to replace or update LIBOR with a replacement rate. The margin is determined based on the Company’s total leverage ratio, as defined in the Credit Agreement. The Credit Agreement also contains customary affirmative and negative covenants typical for a financing of this type that, among other things, restricts the Company and certain of its subsidiaries’ ability to incur additional indebtedness, create liens, merge or consolidate or make certain dispositions, pay dividends and make distributions, enter into restrictive agreements, enter into agreements with affiliates, and make certain investments and acquisitions. Paycheck Protection Program Liquidity Facility On June 2, 2020, Square Capital was approved to borrow under the PPPLF with the Federal Reserve Bank of San Francisco (“First PPPLF Agreement”) at an annual interest rate of 0.35%. The PPPLF extends credit to eligible financial institutions that have originated or purchased PPP loans. Advances under the PPPLF are non-recourse and are secured by a pledge of PPP loans held by Square Capital. The maturity date of any PPPLF loan will be the maturity date of the PPP loans pledged to secure such PPPLF loan. The maturity date of any PPPLF loan will be accelerated on and to the extent of (i) the date of any loan forgiveness reimbursement by the SBA for any PPP loan securing such PPPLF loan; or (ii) the date of purchase by the SBA from Square Capital of any PPP loan securing such PPPLF loan to realize on the SBA’s guarantee of such PPP loan. The maturity date of all PPPLF loans shall be accelerated upon the occurrence of certain events of default by Square Capital, including but not limited to the failure to comply with a requirement of the PPPLF agreement or any representation, warranty, or covenant of Square Capital under the PPPLF agreement being inaccurate on or as of the date it is deemed to be made or on any date on which an PPPLF loan remains outstanding. The Company can also at its option prepay the advances in full or in part without penalty. Square Capital also shall prepay PPPLF loans so that the amount of any PPPLF loans outstanding does not exceed the outstanding amount of PPP loans pledged to secure such PPPLF loans. On January 29, 2021, Square Capital entered into a second PPPLF agreement with the Federal Reserve Bank of San Francisco (“Second PPPLF Agreement”) to secure additional credit collateralized by loans from the subsequent rounds of the PPP program in an aggregate principal amount of up to $1.0 billion under both PPPLF agreements. As of June 30, 2021, $823.7 million of PPPLF advances were outstanding and are, generally, collateralized by the same value of PPP loans. Any differences between the amounts are generally due to the timing of PPP loan repayment or forgiveness, and repayment of PPPLF advances. Senior Unsecured Notes due in 2026 and 2031 On May 20, 2021, the Company issued an aggregate principal amount of $2.0 billion senior unsecured notes comprised of $1.0 billion of senior unsecured notes due 2026 ("2026 Senior Notes") and $1.0 billion senior unsecured notes due 2031 ("2031 Senior Notes" and, together with the 2026 Senior Notes, the “Senior Notes”). The 2026 Senior Notes mature on June 1, 2026, unless earlier redeemed or repurchased, and bear interest a rate of 2.75% payable semi-annually on June 1 and December 1 of each year. The 2031 Senior Notes mature on June 1, 2031, unless earlier redeemed or repurchased, and bear interest at a rate of 3.50% payable semi-annually on June 1 and December 1 of each year. The Senior Notes are subject to optional redemption provisions. At any time prior to May 1, 2026, in the case of the 2026 Senior Notes, and March 1, 2031, in the case of the 2031 Senior Notes, the Company may redeem the applicable series in whole or part at a price equal to 100% of the principal amount of the notes to be redeemed plus an applicable premium and accrued and unpaid interest, if any, to but excluding the redemption date. The applicable premium for any note is the greater of: (1) 1.0% of the principal amount of such note, and (2) the excess, if any, of (a) the present value at the redemption date of all scheduled payments of interest plus principal on such note (excluding accrued but unpaid interest, if any, to, but excluding, the redemption date) computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points, over (b) the principal amount of such note. At any time on or after May 1, 2026, in the case of the 2026 Senior Notes, and March 1, 2031, in the case of the 2031 Senior Notes, the Company may redeem the notes of the applicable series in whole or part at a price of 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest, if any, to but excluding the redemption date. If the Company experiences a change of control triggering event (as defined in the applicable indenture governing the applicable Senior Notes), the Company must offer to repurchase each series of Senior Notes at a repurchase price equal to 101% of the principal amount of the applicable notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. In the event of default, the trustee or holders of at least 25% in aggregate principal amount of the applicable series of outstanding Senior Notes under the applicable indenture may declare all of the notes of the applicable series to be due and immediately payable. If the event of default is the result of specified events of bankruptcy, insolvency or reorganization, all of the notes of the applicable series will become due without any declaration or action by the trustee or holders. If there is a default in the payment of interest, the Company shall pay the defaulted interest plus, to the extent lawful, interest payable on the defaulted interest at the rate provided in the Senior Notes. Debt issuance costs related to the 2026 Senior Notes and 2031 Senior Notes were comprised of discounts and commissions payable to the initial purchasers of $22.5 million and third party offering costs of $5.7 million. Issuance costs are amortized to interest expense using the effective interest method at an effective interest rate of 3.06% and 3.69% for each of the respective terms of the 2026 Senior Notes and 2031 Senior Notes, respectively. Convertible Notes due in 2026 and 2027 On November 13, 2020, the Company issued an aggregate principal amount of $1.15 billion of convertible senior notes comprised of $575.0 million of convertible senior notes due 2026 ("2026 Convertible Notes") and $575.0 million of convertible senior notes due 2027 ("2027 Convertible Notes"). The 2026 Convertible Notes mature on May 1, 2026, unless earlier converted or repurchased, and bears a zero rate of interest. The 2027 Convertible Notes mature on November 1, 2027, unless earlier converted or repurchased, and bear interest at a rate of 0.25% payable semi-annually on May 1 and November 1 of each year. Both the 2026 Convertible Notes and 2027 Convertible Notes are convertible at an initial conversion rate of 3.3430 shares of the Company's Class A common stock per $1,000 principal amount, which is equivalent to an initial conversion price of approximately $299.13 per share of Class A common stock. Holders may convert their relevant series of notes at any time prior to the close of business on the business day immediately preceding February 1, 2026 and August 1, 2027 for the 2026 Convertible Notes and 2027 Convertible Notes, respectively, only under the following circumstances: (1) during any calendar quarter, commencing after the calendar quarter ending on March 31, 2021 (and only during such calendar quarter), if the last reported sale price of the Company’s Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the "measurement period") in which the trading price (as defined in the indenture governing the 2026 Convertible Notes and 2027 Convertible Notes) per $1,000 principal amount of 2026 Convertible Notes and 2027 Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s Class A common stock and the conversion rate on each such trading day; (3) if the Company calls any or all of the 2026 Convertible Notes and 2027 Convertible Notes for redemption, such relevant series of notes called for redemption may be converted at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events, including certain distributions, the occurrence of a fundamental change (as defined in the indenture governing the 2026 Convertible Notes and 2027 Convertible Notes) or a transaction resulting in the Company’s Class A common stock converting into other securities or property or assets. In addition, upon occurrence of the specified corporate events prior to the maturity date, the Company would increase the conversion rate for a holder who elects to convert their relevant series of notes in connection with such an event in certain circumstances. On or after February 1, 2026 in the case of the 2026 Convertible Notes, and on or after August 1, 2027 in the case of the 2027 Convertible Notes, up until the close of business on the second scheduled trading day immediately preceding the maturity date, a holder of the relevant series of notes may convert all or any portion of its 2026 Convertible Notes or 2027 Convertible Notes regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its Class A common stock, or a combination of cash and shares of its Class A common stock, at the Company’s election. The circumstances required to allow the holders to convert their 2026 Convertible Notes and 2027 Convertible Notes were not met during the six months ended June 30, 2021. On or after November 5, 2023 for the 2026 Convertible Notes, and on or after November 5, 2024 for the 2027 Convertible Notes, the Company may redeem all or a portion of each series of convertible notes for cash at its option, if the last reported sale price of the Company's Class A common stock has been at least 130% of the conversion price for the relevant series of notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2026 Convertible Notes and 2027 Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. In accounting for the issuance of the 2026 Convertible Notes and 2027 Convertible Notes, prior to the adoption of ASU No. 2020-06, the Company separated the relevant series of convertible notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was $198.0 million and was determined by deducting the fair value of the liability component from the par value of the 2026 Convertible Notes and the 2027 Convertible Notes. The equity component was not re-measured as long as it continued to meet the conditions for equity classification. The excess of the principal amount of the liability component over its carrying amount ("debt discount") was amortized to interest expense at an effective interest rate of 3.35% and 3.66% for the 2026 Convertible Notes and 2027 Convertible Notes, respectively. Upon adoption of ASU No. 2020-06 on January 1, 2021, the Company reversed the separation of the debt and equity components and accounted for the Notes wholly as debt. The Company also reversed the amortization of the debt discount, with a cumulative adjustment to retained earnings on the adoption date. Debt issuance costs related to the 2026 Convertible Notes and 2027 Convertible Notes were comprised of discounts and commissions payable to the initial purchasers of $17.5 million and third party offering costs of $1.0 million. Prior to the adoption of ASU No. 2020-06, the Company allocated the total amount incurred to the liability and equity components of the 2026 Convertible Notes and 2027 Convertible Notes based on their relative values. Issuance costs attributable to the liability component were $15.4 million and were amortized to interest expense using the effective interest method. Issuance costs attributable to the equity component were netted with the equity component in stockholders’ equity. Upon adoption of ASU No. 2020-06 on January 1, 2021, the Company reversed the allocation of the issuance costs to the equity component and accounted for the entire amount as debt issuance cost that will be amortized as interest expense at an effective interest rate of 0.49% and 0.30% for each of the respective terms of the 2026 Convertible Notes and 2027 Convertible Notes, respectively, with a cumulative adjustment to retained earnings on the adoption date. Upon adoption of ASU No. 2020-06, the difference between the estimated fair value and the carrying value upon conversion will be accounted for as a reduction to the related debt issuance costs, with the remainder recognized as additional paid in capital to reflect the par value of the shares issued. As of June 30, 2021, there has been no principal converted on either the 2026 Convertible Notes or 2027 Convertible Notes. As of June 30, 2021, the if-converted value of the 2026 Convertible Notes and 2027 Convertible Notes did not exceed the outstanding principal amount. Convertible Senior Notes due in 2025 On March 5, 2020, the Company issued an aggregate principal amount of $1.0 billion of convertible senior notes ("2025 Convertible Notes"). The 2025 Convertible Notes mature on March 1, 2025, unless earlier converted or repurchased, and bear interest at a rate of 0.1250% payable semi-annually on March 1 and September 1 of each year. The 2025 Convertible Notes are convertible at an initial conversion rate of 8.2641 shares of the Company's Class A common stock per $1,000 principal amount of 2025 Convertible Notes, which is equivalent to an initial conversion price of approximately $121.01 per share of Class A common stock. Holders may convert their 2025 Convertible Notes at any time prior to the close of business on the business day immediately preceding December 1, 2024 only under the following circumstances: (1) during any calendar quarter, commencing after the calendar quarter ending on June 30, 2020 (and only during such calendar quarter), if the last reported sale price of the Company’s Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the "measurement period") in which the trading price (as defined in the indenture governing the 2025 Convertible Notes) per $1,000 principal amount of 2025 Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s Class A common stock and the conversion rate on each such trading day; (3) if the Company calls any or all of the 2025 Convertible Notes for redemption, such 2025 Convertible Notes called for redemption may be converted at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events, including certain distributions, the occurrence of a fundamental change (as defined in the indenture governing the 2025 Convertible Notes) or a transaction resulting in the Company’s Class A common stock converting into other securities or property or assets. In addition, upon occurrence of the specified corporate events prior to the maturity date, the Company would increase the conversion rate for a holder who elects to convert their 2025 Convertible Notes in connection with such an event in certain circumstances. On or after December 1, 2024, up until the close of business on the second scheduled trading day immediately preceding the maturity date, a holder may convert all or any portion of its 2025 Convertible Notes regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its Class A common stock, or a combination of cash and shares of its Class A common stock, at the Company’s election. The Company may redeem for cash all or any part of the 2025 Convertible Notes, at its option, on or after March 5, 2023, if the last reported sale price of the Company's Class A common stock has been at least 130% of the conversion price for the 2025 Convertible Notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2025 Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The circumstances to allow the holders to convert their 2025 Convertible Notes were met in the first quarter of 2021. In accounting for the issuance of the 2025 Convertible Notes, prior to the adoption of ASU No. 2020-06, the Company separated the 2025 Convertible Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was $154.6 million and was determined by deducting the fair value of the liability component from the par value of the 2025 Convertible Notes. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. The excess of the principal amount of the liability component over its carrying amount ("debt discount") is amortized to interest expense over the term of the 2025 Convertible Notes at an effective interest rate of 3.81% over the contractual terms of the 2025 Convertible Notes. Upon adoption of ASU No. 2020-06 on January 1, 2021, the Company reversed the separation of the debt and equity components and accounted for the 2025 Convertible Notes wholly as debt. The Company also reversed the amortization of the debt discount, with a cumulative adjustment to retained earnings on the adoption date. Debt issuance costs related to the 2025 Convertible Notes were comprised of discounts and commissions payable to the initial purchasers of $14.3 million and third party offering costs of $0.9 million. Prior to the adoption of ASU No. 2020-06, the Company allocated the total amount incurred to the liability and equity components of the 2025 Convertible Notes based on their relative values. Issuance costs attributable to the liability component were $12.8 million and will be amortized to interest expense using the effective interest method over the contractual term. Issuance costs attributable to the equity component were netted with the equity component in stockholders’ equity. Upon adoption of ASU No. 2020-06 on January 1, 2021, the Company reversed the allocation of the issuance costs to the equity component and accounted for the entire amount as debt issuance cost that will be amortized as interest expense over the remaining term at an effective interest rate of 0.43% for the 2025 Convertible Notes with a cumulative adjustment to retained earnings on the adoption date. Upon adoption of ASU No. 2020-06, the difference between the estimated fair value and the carrying value upon conversion will be accounted for as a reduction to the related debt issuance costs, with the remainder recognized as additional paid in capital to reflect the par value of the shares issued. As of June 30, 2021, there has been no principal converted on the 2025 Convertible Notes. As of June 30, 2021, the if-converted value of the 2025 Convertible Notes exceeded the outstanding principal amount by $1.0 billion. Convertible Senior Notes due in 2023 On May 25, 2018, the Company issued an aggregate principal amount of $862.5 million of convertible senior notes ("2023 Convertible Notes"). The 2023 Convertible Notes mature on May 15, 2023, unless earlier converted or repurchased, and bear interest at a rate of 0.50% payable semi-annually on May 15 and November 15 of each year. The 2023 Convertible Notes are convertible at an initial conversion rate of 12.8456 shares of the Company's Class A common stock per $1,000 principal amount of 2023 Convertible Notes, which is equivalent to an initial conversion price of approximately $77.85 per share of Class A common stock. Holders may convert their 2023 Convertible Notes at any time prior to the close of business on the business day immediately preceding February 15, 2023 only under the following circumstances: (1) during any calendar quarter (and only during such calendar quarter), if the last reported sale price of the Company’s Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the "measurement period") in which the trading price (as defined in the indenture governing the 2023 Convertible Notes) per $1,000 principal amount of 2023 Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s Class A common stock and the conversion rate on each such trading day; or (3) upon the occurrence of specified corporate events, including certain distributions, the occurrence of a fundamental change (as defined in the indenture governing the 2023 Convertible Notes) or a transaction resulting in the Company’s Class A common stock converting into other securities or property or assets. On or after February 15, 2023, up until the close of business on the second scheduled trading day immediately preceding the maturity date, a holder may convert all or any portion of its 2023 Convertible Notes regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its Class A common stock, or a combination of cash and shares of its Class A common stock, at the Company’s election. The circumstances to allow the holders to convert their 2023 Convertible Notes were met in the fourth quarter of 2020 and continued to be met through June 30, 2021. As of June 30, 2021, certain holders of the 2023 Convertible Notes have converted an aggregate principal amount of $113.4 million of their 2023 Convertible Notes. The Company has settled the conversions through the issuance of 1.5 million shares of the Company's Class A common stock. In accounting for the issuance of the 2023 Convertible Notes, prior to the adoption of ASU No. 2020-06, the Company separated the 2023 Convertible Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was $155.3 million and was determined by deducting the fair value of the liability component from the par value of the 2023 Convertible Notes. The equity component is not re-measured as long as it continues to meet the conditions for equity classification. The excess of the principal amount of the liability component over its carrying amount ("debt discount") is amortized to interest expense over the term of the 2023 Convertible Notes at an effective interest rate of 4.69% over the contractual terms of the 2023 Convertible Notes. Upon adoption of ASU No. 2020-06 on January 1, 2021, the Company reversed the separation of the debt and equity components and accounted for the 2023 Convertible Notes wholly as debt. The Company also reversed the amortization of the debt discount, with a cumulative adjustment to retained earnings on the adoption date. Debt issuance costs related to the 2023 Convertible Notes comprised of discounts and commissions payable to the initial purchasers of $6.0 million and third party offering costs of $0.8 million. Prior to the adoption of ASU No. 2020-06, the Company allocated the total amount incurred to the liability and equity components of the 2023 Convertible Notes based on their relative values. Issuance costs attributable to the liability component were $5.6 million and will be amortized to interest expense using the effective interest method over the contractual term. Issuance costs attributable to the equity component were netted with the equity component in stockholders’ equity. Upon adoption of ASU No. 2020-06 on January 1, 2021, the Company reversed the allocation of the issuance costs to the equity component and accounted for the entire amount as debt issuance cost that will be amortized as interest expense over the remaining term at an effective interest rate of 0.66% for the 2023 Convertible Notes with a cumulative adjustment to retained earnings on the adoption date. Upon adoption of ASU No. 2020-06, the difference between the estimated fair value and the carrying value upon conversion will be accounted for as a reduction to the related debt issuance costs, with the remainder recognized as additional paid in capital to reflect the par value of the shares issued. As of June 30, 2021, the if-converted value of the 2023 Convertible Notes exceeded the outstanding principal amount by $1.6 billion. Convertible Senior Notes due in 2022 On March 6, 2017, the Company issued an aggregate principal amount of $440.0 million of convertible senior notes ("2022 Convertible Notes"). The 2022 Convertible Notes mature on March 1, 2022, unless earlier converted or repurchased, and bear interest at a rate of 0.375% payable semi-annually on March 1 and September 1 of each year. The 2022 Convertible Notes are convertible at an initial conversion rate of 43.5749 shares of the Company's Class A common stock per $1,000 principal amount of 2022 Convertible Notes, which is equivalent to an initial conversion price of approximately $22.95 per share of Class A common stock. Holders may convert their 2022 Convertible Notes at any time prior to the close of business on the business day immediately preceding December 1, 2021 only under the following circumstances: (1) during any calendar quarter (and only during such calendar quarter), if the last reported sale price of the Company’s Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the "measurement period") in which the trading price (as defined in the indenture governing the 2022 Convertible Notes) per $1,000 principal amount of 2022 Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s Class A common stock and the conversion rate on each such trading day; or (3) upon the occurrence of specified corporate events, including certain distributions, the occurrence of a fundamental change (as defined in the indenture governing the 2022 Convertible Notes) or a transaction resulting in the Company’s Class A common stock converting into other securities or property or assets. On or after December 1, 2021, up until the close of business on the second scheduled trading day immediately preceding the maturity date, a holder may convert all or any portion of its 2022 Convertible Notes regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its Class A common stock, or a combination of cash and shares of its Class A common stock, at the Company’s election. The circumstances required to allow the holders to convert their 2022 Convertible Notes were met in the fourth quarter of 2017 and continued to be met through June 30, 2021. As of June 30, 2021, certain holders of the 2022 Convertible Notes have converted an aggregate principal amount of $435.3 million of their 2022 Convertible Notes, of which $3.8 million was converted during the six months ended June 30, 2021. The Company has settled the conversions through a combination of $219.4 million in cash and issuance of 16.3 million shares of the Company's Class A common stock. The conversions during t

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company recorded an income tax benefit of $9.4 million and $8.4 million for the three and six months ended June 30, 2021, respectively, compared to an income tax benefit of $0.8 million and $0.2 million for the three and six months ended June 30, 2020, respectively. The difference between income before income tax and the income tax benefit recorded for the three and six months ended June 30, 2021 is primarily due to a change in the valuation allowance in the U.S. and excess stock-based compensation tax deductions. The difference between the income tax benefit for the three and six months ended June 30, 2021 and the income tax benefit for the three and six months ended June 30, 2020 primarily relates to a change in the valuation allowance in the U.S. and an increase in excess stock-based compensation deductions. The tax provision for the three and six months ended June 30, 2021 and June 30, 2020, is calculated on a jurisdictional basis. The Company estimated the worldwide income tax provision using the estimated annual effective income tax rate expected to be applicable for the full year. The Company’s effective tax rate may be subject to fluctuations during the year as new information is obtained, which may affect the assumptions used to estimate the annual effective tax rate, including factors such as the mix of forecasted pre-tax earnings in the various jurisdictions in which the Company operates, changes in valuation allowances against deferred tax assets, the recognition and de-recognition of tax benefits related to uncertain tax positions, and changes in or the interpretation of tax laws in jurisdictions where the Company conducts business. As of June 30, 2021, the Company retains a full valuation allowance on its net deferred tax assets in the U.S. and certain foreign jurisdictions. The realization of the Company’s deferred tax assets depends primarily on its ability to generate taxable income in future periods. The amount of deferred tax assets considered realizable in future periods may change as management continues to reassess the underlying factors it uses in estimating future taxable income.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Common Stock The Company has two classes of authorized common stock outstanding; Class A common stock and Class B common stock. Class A common stock and Class B common stock are referred to as "common stock" throughout these Notes to the Condensed Consolidated Financial Statements, unless otherwise noted. Holders of shares of Class A common stock are entitled to one vote per share, while holders of shares of Class B common stock are entitled to ten votes per share. Shares of the Company's Class B common stock are convertible into an equivalent number of shares of its Class A common stock and generally convert into shares of its Class A common stock upon transfer. The holders of Class A common stock and Class B common stock have no preemptive or other subscription rights and there are no redemption or sinking fund provisions with respect to such shares. As of June 30, 2021, the Company was authorized to issue 1,000,000,000 shares of Class A common stock and 500,000,000 shares of Class B common stock, each with a par value of $0.0000001 per share. As of June 30, 2021, there were 395,321,647 shares of Class A common stock and 62,501,770 shares of Class B common stock outstanding. Options and awards granted following the Company's initial public offering are related to underlying Class A common stock. Warrants In conjunction with the 2022 Convertible Notes offering, the Company sold the 2022 warrants whereby the counterparties have the option to purchase a total of approximately 19.2 million shares of the Company’s Class A common stock at a price of $31.18 per share, and expire on June 1, 2022. None of the warrants were exercised as of June 30, 2021. In conjunction with the 2023 Convertible Notes offering, the Company sold the 2023 warrants whereby the counterparties have the option to purchase a total of approximately 11.1 million shares of the Company’s Class A common stock at a price of $109.26 per share, and expire on August 15, 2023. None of the warrants were exercised as of June 30, 2021. In conjunction with the 2025 Convertible Notes offering, the Company sold the 2025 warrants whereby the counterparties have the option to purchase a total of approximately 8.3 million shares of the Company’s Class A common stock at a price of $161.34 per share, and expire on June 1, 2025. None of the warrants were exercised as of June 30, 2021. In conjunction with the 2026 Convertible Notes offering, the Company sold the 2026 warrants whereby the counterparties have the option to purchase a total of approximately 1.9 million shares of the Company’s Class A common stock at a price of $368.16 per share, and expire on August 1, 2026. None of the warrants were exercised as of June 30, 2021. In conjunction with the 2027 Convertible Notes offering, the Company sold the 2027 warrants whereby the counterparties have the option to purchase a total of approximately 1.9 million shares of the Company’s Class A common stock at a price of $414.18 per share, and expire on February 1, 2028. None of the warrants were exercised as of June 30, 2021. Conversion of Convertible Notes and Exercise of Convertible Note Hedges In connection with the conversion of the 2022 Convertible Notes, the Company issued 16.3 million shares of Class A common stock, of which 0.2 million shares were issued in the six months ended June 30, 2021. The Company also exercised a pro-rata portion of the 2022 convertible note hedges and received 14.9 million shares of Class A common stock from the 2017 Counterparties to offset the shares issued, of which 5.5 million shares were received in the six months ended June 30, 2021. In connection with the conversion of the 2023 Convertible Notes, the Company issued 1.5 million shares of Class A common stock as of June 30, 2021. The Company also exercised a pro-rata portion of the 2023 convertible note hedges, which were immaterial as of June 30, 2021 Stock Plans The Company maintains two share-based employee compensation plans: the 2009 Stock Plan (2009 Plan) and the 2015 Equity Incentive Plan (2015 Plan). The 2015 Plan serves as the successor to the 2009 Plan. The 2015 Plan became effective as of November 17, 2015. Outstanding awards under the 2009 Plan continue to be subject to the terms and conditions of the 2009 Plan. Since November 17, 2015, no additional awards have been nor will be granted in the future under the 2009 Plan. Under the 2015 Plan, shares of the Company's Class A common stock are reserved for the issuance of incentive and nonstatutory stock options (ISOs and NSOs, respectively), restricted stock awards (RSAs), restricted stock units (RSUs), performance shares, and stock bonuses to qualified employees, directors, and consultants. The awards must be granted at a price per share not less than the fair market value at the date of grant. Initially, 30,000,000 shares were reserved under the 2015 Plan and any shares subject to options or other similar awards granted under the 2009 Plan that expire, are forfeited, are repurchased by the Company or otherwise terminate unexercised, will become available under the 2015 Plan. The number of shares available for issuance under the 2015 Plan has been and will be increased on the first day of each fiscal year, in an amount equal to the least of (i) 40,000,000 shares, (ii) 5% of the outstanding shares on the last day of the immediately preceding fiscal year, or (iii) such number of shares determined by the administrator of the Plan. The administrator consists of the Board of Directors who then delegates the responsibilities to the Compensation Committee. As of June 30, 2021, the total number of shares subject to stock options, RSAs and RSUs outstanding under the 2015 Plan was 17,690,873, and 119,444,950 shares were available for future issuance. As of June 30, 2021, the total number of shares subject to stock options, RSAs and RSUs outstanding under the 2009 Plan was 8,124,460. A summary of stock option activity for the six months ended June 30, 2021 is as follows (in thousands, except share and per share data): Number of Stock Options Outstanding Weighted Weighted Aggregate Balance at December 31, 2020 13,630,882 $ 17.84 3.84 $ 2,723,394 Granted 183,441 253.79 Exercised (2,941,086) 12.92 Balance at June 30, 2021 10,873,237 $ 23.16 4.03 $ 2,400,927 Options exercisable as of June 30, 2021 9,415,552 $ 13.51 3.32 $ 2,168,406 Restricted Stock Activity Activity related to RSAs and RSUs during the six months ended June 30, 2021 is set forth below: Number of Weighted Unvested as of December 31, 2020 15,622,645 $ 71.71 Granted 3,344,454 241.35 Vested (3,561,075) 58.31 Forfeited (463,928) 85.96 Unvested as of June 30, 2021 14,942,096 $ 112.43 Share-Based Compensation The fair value of stock options and employee stock purchase plan rights are estimated on the date of grant using the Black-Scholes-Merton option valuation model. The fair value of RSAs and RSUs is determined by the closing price of the Company’s common stock on each grant date. The following table summarizes the effects of share-based compensation on the Company's condensed consolidated statements of operations (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Cost of revenue $ 112 $ 95 $ 211 $ 171 Product development 106,161 69,565 193,056 126,965 Sales and marketing 13,777 8,884 24,657 15,291 General and administrative 26,315 17,636 47,064 31,056 Total $ 146,365 $ 96,180 $ 264,988 $ 173,483 The Company recorded $8.0 million and $16.8 million of share-based compensation expense related to the Company's 2015 Employee Stock Purchase Plan during the three and six months ended June 30, 2021, respectively, compared to $4.1 million and $8.8 million during the three and six months ended June 30, 2020, respectively, which are included in the table above. The Company capitalized $4.0 million and $7.4 million of share-based compensation expense related to capitalized software costs during the three and six months ended June 30, 2021 and 2020, respectively, compared to $3.5 million and $5.8 million during the three and six months ended June 30, 2020, respectively. As of June 30, 2021, there was $1.6 billion of total unrecognized compensation cost related to outstanding stock options and restricted stock awards that are expected to be recognized over a weighted-average period of 3.02 years.

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE	NET INCOME (LOSS) PER SHAREBasic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding adjusted for the dilutive effect of all potential shares of common stock. In periods when the Company reported a net loss, diluted net loss per share is the same as basic net loss per share because the effects of potentially dilutive items were anti-dilutive. The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data): Three Months Ended Six Months Ended 2021 2020 2021 2020 Numerator: Net income (loss) $ 203,678 $ (11,478) $ 242,686 $ (117,369) Net income (loss) attributable to noncontrolling interests (343) — (343) — Net income (loss) attributable to common stockholders $ 204,021 $ (11,478) $ 243,029 $ (117,369) Denominator: Basic shares: Weighted-average common shares outstanding 455,820 440,815 455,618 438,248 Weighted-average unvested shares (389) (698) (415) (719) Weighted-average shares used to compute basic net income (loss) per share: 455,431 440,117 455,203 437,529 Diluted shares: Stock options, restricted stock, and employee stock purchase plan 18,825 — 19,897 — Convertible senior notes 23,351 — 19,585 — Common stock warrants 24,971 — 25,028 — Weighted-average shares used to compute diluted net income (loss) per share: 522,578 440,117 519,713 437,529 Net income (loss) per share attributable to common stockholders: Basic $ 0.45 $ (0.03) $ 0.53 $ (0.27) Diluted $ 0.40 $ (0.03) $ 0.48 $ (0.27) The following potential common shares were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Stock options, restricted stock, and employee stock purchase plan 7,743 38,154 6,926 37,072 Common stock warrants 17,390 38,516 17,333 35,565 Convertible senior notes — 27,459 3,845 24,923 Total anti-dilutive securities 25,133 104,129 28,104 97,560

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS In July 2019, the Company entered into a lease agreement to lease certain office space located in St. Louis, Missouri, from an affiliate of one of the Company’s co-founders and current member of its board and directors, Mr. Jim McKelvey, under an operating lease agreement as discussed in Note 18, Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation The Company is currently subject to, and may in the future be involved in, various litigation matters, legal claims, and investigations. The Company is subject to various legal matters and disputes arising in the ordinary course of business. The Company cannot at this time fairly estimate a reasonable range of exposure, if any, of the potential liability with respect to these matters. Although occasional adverse decisions or settlements may occur, the Company does not believe that the final disposition of any of these matters will have a material adverse effect on its results of operations, financial position, or liquidity. The Company cannot give any assurance regarding the ultimate outcome of these other matters, and their resolution could be material to the Company's operating results for any particular period. Other contingencies On June 15, 2020, the Texas Comptroller informed the Company that it had completed its sales and use tax audit for the period from January 1, 2015 through April 30, 2018, and that it would issue a written tax assessment to the Company seeking $38 million, including interest and penalties for this tax audit period. To date, such a written assessment has not been received. The Comptroller indicated that it believes the services that the Company has deemed to be nontaxable should be subject to sales tax. The Company believes the Comptroller’s position is without merit and is inconsistent with Texas state law. Should the Company not prevail, the Company could be obligated to pay additional taxes together with associated penalties and interest for the audited tax period, as well as additional taxes for periods subsequent to the tax audit period, including penalties and interest, that could be material. We are under examination, or may be subject to examination, by several tax authorities. These examinations, including the matter discussed above, may lead to proposed adjustments to our taxes or net operating losses with respect to years under examination, as well as subsequent periods. We regularly assess the likelihood of adverse outcomes resulting from tax examinations to determine the adequacy of our provision for direct and indirect taxes. We continue to monitor the progress of ongoing discussions with tax authorities and the effect, if any, on our provision for direct and indirect taxes. We believe that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in our tax audits are resolved in a manner not consistent with the Company’s expectations, we could be required to adjust our provision for direct and indirect taxes in the period such resolution occurs.

SEGMENT AND GEOGRAPHICAL INFORM

SEGMENT AND GEOGRAPHICAL INFORMATION	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHIC INFORMATION	SEGMENT AND GEOGRAPHICAL INFORMATION The Company reports its operating segments to reflect the manner in which the Company's CODM reviews and assesses performance. Accordingly, the Company has two reportable segments, which are Seller and Cash App. Seller and Cash App are defined as follows: • Seller includes managed payment services, software solutions, hardware, and financial services offered to sellers, excluding those that involve Cash App. • Cash App includes the financial tools available to individuals within the mobile Cash App, including peer-to-peer payments, bitcoin and stock investments. Cash App also includes Cash Card which is linked to customer stored balances that customers can use to pay for purchases or withdraw funds from an ATM. The primary financial measures used by the CODM to evaluate performance and allocate resources are revenue and gross profit. The CODM does not evaluate performance or allocate resources based on segment asset data, and therefore such information is not included. Information on the reportable segments revenue and segment gross profit are as follows (in thousands): Three Months Ended Six Months Ended Cash App Seller Corporate and Other (i) Total Cash App Seller Corporate and Other (i) Total Revenue Transaction-based revenue $ 110,950 $ 1,116,522 $ — $ 1,227,472 $ 202,909 $ 1,984,296 $ — $ 2,187,205 Subscription and services-based revenue 494,945 151,240 38,993 685,178 931,534 272,332 38,993 1,242,859 Hardware revenue — 43,726 — 43,726 — 72,514 — 72,514 Bitcoin revenue 2,724,296 — — 2,724,296 6,235,364 — — 6,235,364 Segment revenue $ 3,330,191 $ 1,311,488 $ 38,993 $ 4,680,672 $ 7,369,807 $ 2,329,142 $ 38,993 $ 9,737,942 Segment gross profit $ 546,053 $ 585,137 $ 9,874 $ 1,141,064 $ 1,041,538 $ 1,053,153 $ 9,874 $ 2,104,565 Three Months Ended Six Months Ended Cash App Seller Corporate and Other (i) Total Cash App Seller Corporate and Other (i) Total Revenue Transaction-based revenue $ 53,657 $ 628,915 $ — $ 682,572 $ 81,476 $ 1,359,197 $ — $ 1,440,673 Subscription and services-based revenue 271,156 75,119 — 346,275 464,881 177,629 — 642,510 Hardware revenue — 19,322 — 19,322 — 39,997 — 39,997 Bitcoin revenue 875,456 — — 875,456 1,181,554 — — 1,181,554 Segment revenue $ 1,200,269 $ 723,356 $ — $ 1,923,625 $ 1,727,911 $ 1,576,823 $ — $ 3,304,734 Segment gross profit $ 281,063 $ 315,700 $ — $ 596,763 $ 463,795 $ 671,469 $ — $ 1,135,264 (i) Corporate and other represents results related to products and services that are not assigned to a specific reportable segment. Comparable prior period amounts have not been disclosed as they were not material. A reconciliation of total segment gross profit to the Company’s income (loss) before applicable income taxes is as follows (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Total segment gross profit $ 1,141,064 $ 596,763 $ 2,104,565 $ 1,135,264 Less: Product development 326,510 207,730 636,651 403,606 Less: Sales and marketing 375,101 238,096 724,561 432,631 Less: General and administrative 221,020 136,386 416,929 265,881 Less: Transaction and loan losses 48,173 37,603 68,568 146,486 Less: Bitcoin impairment losses 45,266 — 65,126 — Less: Interest expense, net 6,464 14,769 6,717 23,975 Less: Other (income), net (75,788) (25,591) (48,260) (19,729) Income (loss) before applicable income taxes $ 194,318 $ (12,230) $ 234,273 $ (117,586) Revenue by geography is based on the addresses of the sellers or customers. The following table sets forth revenue by geographic area (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Revenue United States $ 4,536,603 $ 1,865,985 $ 9,499,938 $ 3,179,571 International 144,069 57,640 238,004 125,163 Total net revenue $ 4,680,672 $ 1,923,625 $ 9,737,942 $ 3,304,734 No individual country from the international markets contributed in excess of 10% of total revenue for the three and six months ended June 30, 2021 and 2020. Long-Lived Assets The following table sets forth long-lived assets by geographic area (in thousands): June 30, 2021 December 31, 2020 Long-lived assets United States $ 1,394,141 $ 1,086,379 International 91,615 58,342 Total long-lived assets $ 1,485,756 $ 1,144,721

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION The supplemental disclosures of cash flow information consist of the following (in thousands): Six Months Ended 2021 2020 Analysis of cash, cash equivalents, and restricted cash Cash and cash equivalents $ 4,581,234 $ 1,972,762 Short-term restricted cash 15,088 19,761 Long-term restricted cash 74,569 13,685 Cash, cash equivalents, and restricted cash $ 4,670,891 $ 2,006,208 Six Months Ended 2021 2020 Supplemental Cash Flow Data: Cash paid for interest $ 3,945 $ 2,553 Cash paid for income taxes 8,009 3,156 Supplemental disclosures of non-cash investing and financing activities: Right-of-use assets obtained in exchange for operating lease obligations 36,667 304,132 Purchases of property and equipment in accounts payable and accrued expenses 17,115 8,010 Unpaid business combination purchase price 50,528 7,439 Fair value of common stock issued and issuable in future related to business combination (10,007) (35,318) Fair value of common stock issued to settle the conversion of senior notes (394,560) (77,614) Fair value of shares received to settle senior note hedges 1,292,705 71,062 Bitcoin lent to third party borrowers $ (6,334) $ —

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On August 1, 2021, the Company entered into a definitive agreement (the “Agreement”) with Afterpay Limited (“Afterpay”) to acquire Afterpay by way of a court-approved Scheme of Arrangement (the “Scheme”) for 0.375 share of the Company’s Class A common stock for each outstanding Afterpay ordinary share (the “Transaction”). The estimated aggregate consideration, excluding the value of replacement equity awards, is $28.2 billion, comprising approximately 114 million shares of Class A common stock of the Company. The aggregate consideration is based on the Company’s closing stock price of $247.26 as of July 30, 2021. At its election, Square may provide 1% of the consideration for Afterpay shares in cash. The Transaction is subject to customary closing conditions, including, among others: (i) approval by Afterpay shareholders of the Scheme by the requisite majorities under the Australian Corporations Act, (ii) approval by Company shareholders of the issuance of new shares of Class A common stock of the Company in connection with the Transaction by the requisite majority, (iii) expiration or earlier termination of any applicable waiting period and receipt of regulatory consents, approvals and clearances, in each case, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and under relevant antitrust/competition and foreign investment legislation in the United States and other relevant jurisdictions, (iv) the absence of any final and non-appealable order, decree or law preventing, making illegal or prohibiting the completion of the Transaction and (v) no events having occurred that would have a material adverse effect on Afterpay or the Company. The Company or Afterpay will be required to make a payment of AUD$385 million (approximately $283 million) in certain circumstances, including in the event that the Agreement is terminated by either party for an adverse change in recommendation by either party’s board of directors or for a material breach of the transaction by either party, (2) the Agreement is terminated by either party upon either party’s board of directors’ determination that a Competing Transaction is a Superior Proposal (in each case as defined in the Agreement) or (3) a Competing Transaction is announced before the Effective Date, and a Competing Transaction is completed within 12 months of the End Date (in each case as defined in the Agreement).

DESCRIPTION OF BUSINESS AND S_2

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim condensed consolidated financial statements of the Company are unaudited. These interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and the applicable rules and regulations of the Securities and Exchange Commission ("SEC") for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The December 31, 2020 condensed consolidated balance sheet was derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to state fairly the Company's consolidated financial position, results of operations, comprehensive income (loss), and cash flows for the interim periods. The condensed consolidated financial statements include the financial statements of Square and its wholly-owned and majority-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Minority interests are recorded as a noncontrolling interest, which is reported as a component of stockholders' equity on the condensed consolidated balance sheets. The interim results for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021, or for any other future annual or interim period. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and related notes in the Company's Annual Report on Form 10-K for the year ended December 31, 2020.
Use of Estimates	Use of Estimates The preparation of the Company’s condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, as well as related disclosure of contingent assets and liabilities. Actual results could differ from the Company’s estimates. To the extent that there are material differences between these estimates and actual results, the Company’s financial condition or operating results will be materially affected. The Company bases its estimates on current and past experience, to the extent that historical experience is predictive of future performance and other assumptions that the Company believes are reasonable under the circumstances. The Company evaluates these estimates on an ongoing basis. Estimates, judgments, and assumptions in these condensed consolidated financial statements include, but are not limited to, those related to revenue recognition, accrued transaction losses, contingencies, valuation of the debt component of convertible senior notes, valuation of loans held for sale including loans under the Paycheck Protection Program ("PPP"), the allowance for loan loss reserves for loans held for investment, valuation of goodwill and acquired intangible assets, deferred revenue, determination of income and other taxes, operating and financing lease right-of-use assets and related liabilities, assessing the likelihood of adverse outcomes from claims and disputes, and share-based compensation.
Concentration of Credit Risk	Concentration of Credit Risk For the three and six months ended June 30, 2021 and June 30, 2020, the Company had no customer that accounted for greater than 10% of total net revenue. The Company had two third-party payment processors that represented approximately 49% and 36% of settlements receivable as of June 30, 2021. As of December 31, 2020, there were two parties that represented approximately 59% and 27% of settlements receivable. All other third-party processors were insignificant. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, marketable debt securities, settlements receivable, customer funds, reverse repurchase agreements, loans held for sale, and loans held for investment. The associated risk of concentration for cash and cash equivalents and restricted cash is mitigated by banking with creditworthy institutions. At certain times, amounts on deposit exceed federal deposit insurance limits. The associated risk of concentration for marketable debt securities is mitigated by holding a diversified portfolio of highly rated investments. Settlements receivable are amounts due from well-established payment processing companies and normally take one two
Sales and Marketing Expenses	Sales and Marketing Expenses Advertising costs are expensed as incurred and included in sales and marketing expense in the condensed consolidated statements of operations. Total advertising costs were $87.4 million and $173.3 million for the three and six months ended June 30, 2021, respectively, compared to $34.0 million and $70.1 million for the three and six months ended June 30, 2020, respectively. In addition, services, incentives, and other costs to customers that are not directly related to a revenue generating transaction are recorded as sales and marketing expenses, as the Company considers these to be marketing costs to encourage the usage of Cash App. These expenses, which include, but are not limited to, Cash App peer-to-peer processing costs and related transaction losses, card issuance costs, customer referral bonuses, and promotional giveaways
Recently Adopted Accounting Pronouncements	Recent Accounting Pronouncements Recently adopted accounting pronouncements In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, but only at the beginning of the fiscal year. The Company early adopted the new guidance on January 1, 2021 using the modified retrospective approach and recorded a cumulative effect upon adoption of $103.0 million as a reduction to accumulated deficit and a reduction to other paid in capital of $502.7 million related to amounts attributable to conversion options that had previously been recorded in equity. Additionally, the Company recorded an increase to its convertible notes balance by an aggregate amount of $399.7 million as a result of the reversal of the separation of the convertible debt between debt and equity. The adoption of this standard also significantly decreased the amount of non-cash interest expense to be recognized in future periods as a result of eliminating the discount associated with the equity component. There was no impact to the Company’s statements of cash flows as the result of the adoption of ASU No. 2020-06. In October 2020, the FASB issued ASU No. 2020-10, Codification Improvements ("Codification") . The update provides incremental improvements on various topics in the Codification to provide clarification, correct errors in, and to provide simplification on a variety of topics. Among other items, the guidance includes presentation disclosures for the amount of income tax expense or benefit related to other comprehensive income. The amendments are effective for public entities in fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption is permitted. The Company adopted this guidance effective January 1, 2021 and has applied the guidance prospectively. The adoption of this guidance did not have a material impact on the Company’s financial statements and related disclosures. Recently issued accounting pronouncements not yet adopted
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTSThe Company measures its cash equivalents, customer funds, short-term and long-term marketable debt securities, and marketable equity investment at fair value. The Company classifies these investments within Level 1 or Level 2 of the fair value hierarchy because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents the Company's revenue disaggregated by revenue source (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Revenue from Contracts with Customers: Transaction-based revenue $ 1,227,472 $ 682,572 $ 2,187,205 $ 1,440,673 Subscription and services-based revenue 631,402 328,763 1,156,467 584,646 Hardware revenue 43,726 19,322 72,514 39,997 Bitcoin revenue 2,724,296 875,456 6,235,364 1,181,554 Revenue from other sources: Subscription and services-based revenue 53,776 17,512 86,392 57,864 Total net revenue $ 4,680,672 $ 1,923,625 $ 9,737,942 $ 3,304,734
Deferred Revenue	The deferred revenue balances were as follows (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Deferred revenue, beginning of the period $ 54,726 $ 47,046 $ 51,804 $ 44,331 Deferred revenue, end of the period 59,501 51,549 59,501 51,549 Deferred revenue arising from business combination 5,380 — 5,380 — Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period $ 20,778 $ 16,288 $ 31,743 $ 26,483

INVESTMENTS IN DEBT SECURITIES

INVESTMENTS IN DEBT SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Short-term and Long-term Investments	The Company's short-term and long-term investments as of June 30, 2021 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 80,250 $ 244 $ (3) $ 80,491 Corporate bonds 287,231 497 (91) 287,637 Commercial paper 153,926 1 — 153,927 Municipal securities 12,565 11 — 12,576 U.S. government securities 424,955 251 (19) 425,187 Foreign government securities 55,080 57 (52) 55,085 Total $ 1,014,007 $ 1,061 $ (165) $ 1,014,903 Long-term debt securities: U.S. agency securities $ 152,423 $ 203 $ (92) $ 152,534 Corporate bonds 475,462 519 (781) 475,200 Municipal securities 16,890 18 (13) 16,895 U.S. government securities 276,984 226 (293) 276,917 Foreign government securities 25,450 101 (4) 25,547 Total $ 947,209 $ 1,067 $ (1,183) $ 947,093 The Company's short-term and long-term investments as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 153,386 $ 782 $ (164) $ 154,004 Corporate bonds 76,957 256 (14) 77,199 Commercial paper 4,999 — — 4,999 Municipal securities 10,377 57 (3) 10,431 U.S. government securities 404,194 1,244 (4) 405,434 Foreign government securities 42,988 139 (82) 43,045 Total $ 692,901 $ 2,478 $ (267) $ 695,112 Long-term debt securities: U.S. agency securities $ 168,762 $ 519 $ (3) $ 169,278 Corporate bonds 174,655 1,401 (42) 176,014 Municipal securities 1,045 15 — 1,060 U.S. government securities 91,642 433 (2) 92,073 Foreign government securities 25,351 184 (10) 25,525 Total $ 461,455 $ 2,552 $ (57) $ 463,950 The Company's investments within customer funds as of June 30, 2021 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 80,092 $ 1 $ (7) $ 80,086 U.S. government securities 418,119 17 (40) 418,096 Total $ 498,211 $ 18 $ (47) $ 498,182 The Company's investments within customer funds as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 113,156 $ 22 $ — $ 113,178 U.S. government securities 333,323 28 (5) 333,346 Total $ 446,479 $ 50 $ (5) $ 446,524
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	The Company's gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2021 and December 31, 2020, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): June 30, 2021 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 17,296 $ (3) $ — $ — $ 17,296 $ (3) Corporate bonds 171,862 (82) 1,536 (9) 173,398 (91) U.S. government securities 185,890 (19) — — 185,890 (19) Foreign government securities 32,613 (52) — — 32,613 (52) Total $ 407,661 $ (156) $ 1,536 $ (9) $ 409,197 $ (165) Long-term debt securities: U.S. agency securities $ 91,041 $ (92) $ — $ — $ 91,041 $ (92) Corporate bonds 344,305 (781) — — 344,305 (781) Municipal securities 12,499 (13) — — 12,499 (13) U.S. government securities 245,982 (293) — — 245,982 (293) Foreign government securities 13,262 (4) — — 13,262 (4) Total $ 707,089 $ (1,183) $ — $ — $ 707,089 $ (1,183) December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 41,711 $ (162) $ 2,505 $ (2) $ 44,216 $ (164) Corporate bonds 15,255 (14) — — 15,255 (14) Municipal securities 2,566 (3) — — 2,566 (3) U.S. government securities 45,970 (4) — — 45,970 (4) Foreign government securities 21,341 (82) — — 21,341 (82) Total $ 126,843 $ (265) $ 2,505 $ (2) $ 129,348 $ (267) Long-term debt securities: U.S. agency securities $ 1,406 $ (3) $ — $ — $ 1,406 $ (3) Corporate bonds 28,189 (42) — — 28,189 (42) U.S. government securities 8,658 (2) — — 8,658 (2) Foreign government securities 10,929 (10) — — 10,929 (10) Total $ 49,182 $ (57) $ — $ — $ 49,182 $ (57) The gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2021 and December 31, 2020, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): June 30, 2021 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 30,091 $ (7) $ — $ — $ 30,091 $ (7) U.S. government securities 220,980 (40) — — 220,980 (40) Total $ 251,071 $ (47) $ — $ — $ 251,071 $ (47) December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. government securities $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) Total $ 73,609 $ (5) $ — $ — $ 73,609 $ (5)
Contractual Maturities of Short-Term and Long-Term Investments	The contractual maturities of the Company's short-term and long-term investments as of June 30, 2021 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 1,014,007 $ 1,014,903 Due in one to five years 947,209 947,093 Total $ 1,961,216 $ 1,961,996 The contractual maturities of the Company's investments within customer funds as of June 30, 2021 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 498,211 $ 498,182 Due in one to five years — — Total $ 498,211 $ 498,182

CUSTOMER FUNDS (Tables)

CUSTOMER FUNDS (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Assets Underlying Customer Funds	The following table presents the assets underlying customer funds (in thousands): June 30, 2021 December 31, 2020 Cash $ 113,223 $ 145,577 Customer funds in transit — 262,562 Cash Equivalents: Money market funds 1,550,445 777,193 Reverse repurchase agreement (i) 654,928 246,880 U.S. agency securities 5,700 47,300 U.S. government securities 24,999 111,796 Short-term debt securities: U.S. agency securities 80,086 113,178 U.S. government securities 418,096 333,346 Total $ 2,847,477 $ 2,037,832
Investments within Customer Funds	The Company's short-term and long-term investments as of June 30, 2021 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 80,250 $ 244 $ (3) $ 80,491 Corporate bonds 287,231 497 (91) 287,637 Commercial paper 153,926 1 — 153,927 Municipal securities 12,565 11 — 12,576 U.S. government securities 424,955 251 (19) 425,187 Foreign government securities 55,080 57 (52) 55,085 Total $ 1,014,007 $ 1,061 $ (165) $ 1,014,903 Long-term debt securities: U.S. agency securities $ 152,423 $ 203 $ (92) $ 152,534 Corporate bonds 475,462 519 (781) 475,200 Municipal securities 16,890 18 (13) 16,895 U.S. government securities 276,984 226 (293) 276,917 Foreign government securities 25,450 101 (4) 25,547 Total $ 947,209 $ 1,067 $ (1,183) $ 947,093 The Company's short-term and long-term investments as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 153,386 $ 782 $ (164) $ 154,004 Corporate bonds 76,957 256 (14) 77,199 Commercial paper 4,999 — — 4,999 Municipal securities 10,377 57 (3) 10,431 U.S. government securities 404,194 1,244 (4) 405,434 Foreign government securities 42,988 139 (82) 43,045 Total $ 692,901 $ 2,478 $ (267) $ 695,112 Long-term debt securities: U.S. agency securities $ 168,762 $ 519 $ (3) $ 169,278 Corporate bonds 174,655 1,401 (42) 176,014 Municipal securities 1,045 15 — 1,060 U.S. government securities 91,642 433 (2) 92,073 Foreign government securities 25,351 184 (10) 25,525 Total $ 461,455 $ 2,552 $ (57) $ 463,950 The Company's investments within customer funds as of June 30, 2021 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 80,092 $ 1 $ (7) $ 80,086 U.S. government securities 418,119 17 (40) 418,096 Total $ 498,211 $ 18 $ (47) $ 498,182 The Company's investments within customer funds as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 113,156 $ 22 $ — $ 113,178 U.S. government securities 333,323 28 (5) 333,346 Total $ 446,479 $ 50 $ (5) $ 446,524
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	The Company's gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2021 and December 31, 2020, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): June 30, 2021 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 17,296 $ (3) $ — $ — $ 17,296 $ (3) Corporate bonds 171,862 (82) 1,536 (9) 173,398 (91) U.S. government securities 185,890 (19) — — 185,890 (19) Foreign government securities 32,613 (52) — — 32,613 (52) Total $ 407,661 $ (156) $ 1,536 $ (9) $ 409,197 $ (165) Long-term debt securities: U.S. agency securities $ 91,041 $ (92) $ — $ — $ 91,041 $ (92) Corporate bonds 344,305 (781) — — 344,305 (781) Municipal securities 12,499 (13) — — 12,499 (13) U.S. government securities 245,982 (293) — — 245,982 (293) Foreign government securities 13,262 (4) — — 13,262 (4) Total $ 707,089 $ (1,183) $ — $ — $ 707,089 $ (1,183) December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 41,711 $ (162) $ 2,505 $ (2) $ 44,216 $ (164) Corporate bonds 15,255 (14) — — 15,255 (14) Municipal securities 2,566 (3) — — 2,566 (3) U.S. government securities 45,970 (4) — — 45,970 (4) Foreign government securities 21,341 (82) — — 21,341 (82) Total $ 126,843 $ (265) $ 2,505 $ (2) $ 129,348 $ (267) Long-term debt securities: U.S. agency securities $ 1,406 $ (3) $ — $ — $ 1,406 $ (3) Corporate bonds 28,189 (42) — — 28,189 (42) U.S. government securities 8,658 (2) — — 8,658 (2) Foreign government securities 10,929 (10) — — 10,929 (10) Total $ 49,182 $ (57) $ — $ — $ 49,182 $ (57) The gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2021 and December 31, 2020, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): June 30, 2021 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 30,091 $ (7) $ — $ — $ 30,091 $ (7) U.S. government securities 220,980 (40) — — 220,980 (40) Total $ 251,071 $ (47) $ — $ — $ 251,071 $ (47) December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. government securities $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) Total $ 73,609 $ (5) $ — $ — $ 73,609 $ (5)
Contractual Maturities of Short-Term and Long-Term Investments	The contractual maturities of the Company's short-term and long-term investments as of June 30, 2021 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 1,014,007 $ 1,014,903 Due in one to five years 947,209 947,093 Total $ 1,961,216 $ 1,961,996 The contractual maturities of the Company's investments within customer funds as of June 30, 2021 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 498,211 $ 498,182 Due in one to five years — — Total $ 498,211 $ 498,182

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The Company’s financial assets and liabilities that are measured at fair value on a recurring basis are classified as follows (in thousands): June 30, 2021 December 31, 2020 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Cash Equivalents: Money market funds $ 2,473,688 $ — $ — $ 1,694,736 $ — $ — U.S. agency securities — — — — 41,186 — Commercial paper — 56,491 — — — — Corporate bonds — 1,409 — — — — U.S. government securities 32,999 — — 15,000 — — Customer funds: Money market funds 1,550,445 — — 777,193 — — Reverse repurchase agreement 654,928 — — 246,880 — — U.S. agency securities — 85,786 — — 160,478 — U.S. government securities 443,095 — — 445,142 — — Short-term debt securities: U.S. agency securities — 80,491 — — 154,004 — Corporate bonds — 287,637 — — 77,199 — Commercial paper — 153,927 — — 4,999 — Municipal securities — 12,576 — — 10,431 — U.S. government securities 425,187 — — 405,434 — — Foreign government securities — 55,085 — — 43,045 — Long-term debt securities: U.S. agency securities — 152,534 — — 169,278 — Corporate bonds — 475,200 — — 176,014 — Municipal securities — 16,895 — — 1,060 — U.S. government securities 276,917 — — 92,073 — — Foreign government securities — 25,547 — — 25,525 — Other: Investment in marketable equity security — — — 376,258 — — Total $ 5,857,259 $ 1,403,578 $ — $ 4,052,716 $ 863,219 $ — June 30, 2021 December 31, 2020 Carrying Value Fair Value (Level 2) Carrying Value Fair Value (Level 2) 2031 Senior Notes $ 986,069 $ 1,009,930 $ — $ — 2026 Senior Notes 986,224 1,017,950 — — 2027 Convertible Notes 566,540 671,157 458,496 644,000 2026 Convertible Notes 566,769 649,290 482,204 638,250 2025 Convertible Notes 988,835 2,072,100 858,332 1,912,440 2023 Convertible Notes 746,837 2,371,017 780,046 2,417,820 2022 Convertible Notes 4,681 49,857 7,846 80,731 Total $ 4,845,955 $ 7,841,301 $ 2,586,924 $ 5,693,241 The estimated fair value and carrying value of loans held for sale is as follows (in thousands): June 30, 2021 December 31, 2020 Carrying Value Fair Value (Level 3) Carrying Value Fair Value (Level 3) Loans held for sale $ 807,402 $ 912,254 $ 462,665 $ 467,805

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	The following is a summary of property and equipment, less accumulated depreciation and amortization (in thousands): June 30, 2021 December 31, 2020 Leasehold improvements $ 192,619 $ 168,125 Computer equipment 156,205 139,174 Capitalized software 139,033 119,452 Office furniture and equipment 39,531 34,890 Total 527,388 461,641 Less: Accumulated depreciation and amortization (266,505) (228,121) Property and equipment, net $ 260,883 $ 233,520

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Assets Acquired and Liabilities Assumed	The table below summarizes the consideration paid for TIDAL and the preliminary assessment of the fair value of the assets acquired and liabilities assumed at the closing date (in thousands, except share data).The Company is in the process of completing the determination of the fair values of certain tangible and intangible assets acquired, liabilities assumed and noncontrolling interests, including reviewing third party valuations, and accordingly, the preliminary values reflected in the table are subject to change. These changes will primarily relate to the fair value assigned to intangible assets acquired, royalty liabilities assumed, and evaluation of contingencies and tax effects related to the acquisition. Consideration: Cash $ 176,663 Deferred consideration 50,528 Stock (41,138 shares of Class A common stock) 10,071 $ 237,262 Recognized amounts of identifiable assets acquired and liabilities assumed: Current assets (inclusive of cash acquired of $12,358) $ 33,294 Intangible customer assets 69,000 Intangible technology assets 29,000 Intangible trade name 35,000 Intangible other assets 8,000 Other non-current assets 33,747 Accrued expenses and other current liabilities (67,789) Other non-current liabilities (39,625) Total identifiable net assets acquired 100,627 Noncontrolling interests (48,192) Goodwill 184,827 Total $ 237,262

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Change in Carrying Value of Goodwill	The change in carrying value of goodwill in the period was as follows (in thousands): Balance at December 31, 2020 $ 316,701 Acquisitions 184,827 Other (128) Balance at June 30, 2021 $ 501,400 Cash App Seller Corporate and Other Total Balance at December 31, 2020 $ 128,838 $ 187,863 $ — $ 316,701 Acquisitions — — 184,827 184,827 Other (128) — — (128) Balance at June 30, 2021 $ 128,710 $ 187,863 $ 184,827 $ 501,400

ACQUIRED INTANGIBLE ASSETS (Tab

ACQUIRED INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Finite Lived Intangible Assets	The following table presents the detail of acquired intangible assets as of the periods presented (in thousands): Balance at June 30, 2021 Weighted Average Estimated Useful Life Cost Accumulated Amortization Net Technology assets 5 years $ 148,540 $ (52,652) $ 95,888 Customer assets 15 years 127,422 (14,367) 113,055 Trade name 9 years 53,340 (10,534) 42,806 Other 9 years 13,720 (3,273) 10,447 Total $ 343,022 $ (80,826) $ 262,196 Balance at December 31, 2020 Weighted Average Estimated Useful Life Cost Accumulated Amortization Net Technology assets 5 years $ 119,508 $ (43,084) $ 76,424 Customer assets 11 years 58,556 (10,796) 47,760 Trade name 6 years 18,529 (8,031) 10,498 Other 8 years 5,733 (2,803) 2,930 Total $ 202,326 $ (64,714) $ 137,612 The changes to the carrying value of intangible assets were as follows (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Acquired intangible assets, net, beginning of the period $ 129,796 $ 81,936 $ 137,612 $ 69,079 Acquisitions 141,000 22,000 141,000 39,009 Amortization expense (9,234) (4,134) (16,118) (8,286) Other 634 — (298) — Acquired intangible assets, net, end of the period $ 262,196 $ 99,802 $ 262,196 $ 99,802
Future Amortization Expense of Intangible Assets	The estimated future amortization expense of intangible assets in future periods as of June 30, 2021 is as follows (in thousands): Remainder of 2021 $ 20,781 2022 39,535 2023 38,284 2024 35,306 2025 28,479 Thereafter 99,811 Total $ 262,196

OTHER CONSOLIDATED BALANCE SH_3

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Current Assets	The following table presents the detail of other current assets (in thousands): June 30, 2021 December 31, 2020 Loans held for investment, net of allowance for loan losses (i) $ 33,130 $ — Inventory, net 58,786 61,129 Restricted cash 15,088 30,279 Processing costs receivable 213,014 148,606 Prepaid expenses 55,658 34,279 Accounts receivable, net 75,266 41,960 Other 142,520 66,814 Total $ 593,462 $ 383,067 (i) In April 2021, the Company began originating loans in the U.S. through its wholly-owned subsidiary bank, Square Financial Services, Inc., and discontinued a prior arrangement with an industrial bank partner. Refer to Note 6, Loans Held for Investment for further details .
Accrued Expenses and Other Current Liabilities	The following table presents the detail of accrued expenses and other current liabilities (in thousands): June 30, 2021 December 31, 2020 Accrued expenses $ 169,166 $ 126,710 Square Payroll payable (i) 67,236 16,990 Accrued royalties 48,454 — Accrued transaction losses (ii) 48,480 70,557 Accounts payable 55,053 47,089 Deferred revenue, current 52,389 44,908 Current portion of long-term debt 4,681 — Other 70,354 54,596 Total $ 515,813 $ 360,850 (i) Square Payroll payable represents amounts received from Square Payroll product customers that will be utilized to settle the customers' employee payroll and related obligations. (ii) 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 Six Months Ended 2021 2020 2021 2020 Accrued transaction losses, beginning of the period $ 48,622 $ 96,661 $ 70,557 $ 34,771 Provision for transaction losses 27,784 32,770 21,042 112,073 Charge-offs to accrued transaction losses (27,926) (20,370) (43,119) (37,783) Accrued transaction losses, end of the period $ 48,480 $ 109,061 $ 48,480 $ 109,061
Reserve for Transaction Losses	The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Accrued transaction losses, beginning of the period $ 48,622 $ 96,661 $ 70,557 $ 34,771 Provision for transaction losses 27,784 32,770 21,042 112,073 Charge-offs to accrued transaction losses (27,926) (20,370) (43,119) (37,783) Accrued transaction losses, end of the period $ 48,480 $ 109,061 $ 48,480 $ 109,061

OTHER CONSOLIDATED BALANCE SH_4

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Non-Current Assets	The following table presents the detail of other non-current assets (in thousands): June 30, 2021 December 31, 2020 Investment in non-marketable equity securities (i) $ 86,971 $ 32,510 Investment in marketable equity security (ii) — 376,258 Investment in bitcoin, net (iii) 154,888 50,000 Restricted cash 74,569 13,526 Other 66,176 26,956 Total $ 382,604 $ 499,250 (i) Investment in non-marketable equity securities includes the Company's investments in equity instruments 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. Additionally, the Company holds a non-marketable common stock warrant in a public entity. The warrant is carried at fair value, with changes in fair value being recorded within other expense (income), net on the condensed consolidated statement of operations. (ii) In December 2020, upon completion of the initial public offering of DoorDash Inc. ("DoorDash"), the shares of preferred stock held by the Company converted into Class A common stock of DoorDash. The investment was carried at fair value, with changes in fair value being recorded within other income or expense on the condensed consolidated statement of operations. During the three and six months ended June 30, 2021, the Company recorded net gains of $73.3 million and $44.4 million, respectively, arising from the revaluation of the investment. In June 2021, the Company completed the sale of its remaining investment in DoorDash and it will have no further impact on the Company's results in future periods. (iii) The Company invested $50.0 million and $170.0 million in bitcoin in the fourth quarter of 2020 and the first quarter of 2021, respectively. Bitcoin is accounted for as an indefinite lived intangible asset, and thus, is subject to impairment losses if the fair value of bitcoin decreases below the carrying value during the assessed period. Impairment losses cannot be recovered for any subsequent increase in fair value until the sale of the asset. In the second quarter of 2021, the Company began lending a portion of its bitcoin investments to third parties. As of June 30, 2021, $6.3 million of the Company's investments in bitcoin had been loaned to third party borrowers. Bitcoin is an indefinite-lived intangible asset and under the terms of the lending arrangement it must be returned to the Company. As such, the bitcoin lent will not be derecognized and will continue to be carried at cost less impairment losses. Income generated from the lending arrangement is recorded in other expense (income), net on the condensed consolidated statements of operations.
Other Non-Current Liabilities	The following table presents the detail of other non-current liabilities (in thousands): June 30, 2021 December 31, 2020 Statutory liabilities (i) $ 125,849 $ 75,370 Other 60,520 9,921 Total $ 186,369 $ 85,291 (i) Statutory liabilities represent loss contingencies that may arise from the Company's interpretation and application of certain guidelines and rules issued by various federal, state, local, and foreign regulatory authorities.

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Net Carrying Amount of Convertible Notes	The net carrying amount of the Notes were as follows (in thousands): Principal outstanding Unamortized debt issuance costs Net carrying value June 30, 2021 2031 Senior Notes $ 1,000,000 $ (13,931) $ 986,069 2026 Senior Notes 1,000,000 (13,776) 986,224 2027 Convertible Notes 575,000 (8,460) 566,540 2026 Convertible Notes 575,000 (8,231) 566,769 2025 Convertible Notes 1,000,000 (11,165) 988,835 2023 Convertible Notes 749,089 (2,252) 746,837 2022 Convertible Notes 4,698 (17) 4,681 Total $ 4,903,787 $ (57,832) $ 4,845,955 As discussed above, upon the adoption of ASU No. 2020-06, the Company reversed the separation of the debt and equity components of the Convertible Notes, and accounted for the Convertible Notes wholly as debt. Additionally, the issuance costs of the Notes were accounted for as debt issuance costs in its entirety. Refer to Note 1, Description of Business and Summary of Significant Accounting Policies for further details on the impact of adoption. Principal outstanding Unamortized debt discount Unamortized debt issuance costs Net carrying value December 31, 2020 2027 Convertible Notes $ 575,000 $ (109,134) $ (7,370) $ 458,496 2026 Convertible Notes 575,000 (85,085) (7,711) 482,204 2025 Convertible Notes 1,000,000 (130,335) (11,333) 858,332 2023 Convertible Notes 862,500 (79,980) (2,474) 780,046 2022 Convertible Notes 8,545 (629) (70) 7,846 Total $ 3,021,045 $ (405,163) $ (28,958) $ 2,586,924 The net carrying amount of the equity component of the Convertible Notes as of December 31, 2020 were as follows (in thousands): Amount allocated to conversion option Less: allocated issuance costs Equity component, net December 31, 2020 2027 Convertible Notes $ 111,000 $ (1,793) $ 109,207 2026 Convertible Notes 87,000 (1,405) 85,595 2025 Convertible Notes 154,600 (2,342) 152,258 2023 Convertible Notes 155,250 (1,231) 154,019 2022 Convertible Notes 1,674 (45) 1,629 Total $ 509,524 $ (6,816) $ 502,708
Interest Expense on Convertible Notes	The Company recognized interest expense on the Notes as follows (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Contractual interest expense $ 8,497 $ 1,565 $ 10,225 $ 2,938 Amortization of debt issuance costs (i) 2,305 17,580 4,137 30,108 Total $ 10,802 $ 19,145 $ 14,362 $ 33,046 (i) Upon adoption of ASU No. 2020-06, the debt discount associated with the equity component on convertible debt outstanding was reversed which resulted in a decrease in the amount of non-cash interest expense to be recognized going forward.

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity	A summary of stock option activity for the six months ended June 30, 2021 is as follows (in thousands, except share and per share data): Number of Stock Options Outstanding Weighted Weighted Aggregate Balance at December 31, 2020 13,630,882 $ 17.84 3.84 $ 2,723,394 Granted 183,441 253.79 Exercised (2,941,086) 12.92 Balance at June 30, 2021 10,873,237 $ 23.16 4.03 $ 2,400,927 Options exercisable as of June 30, 2021 9,415,552 $ 13.51 3.32 $ 2,168,406
Restricted Stock Awards and Restricted Stock Units Activity	Activity related to RSAs and RSUs during the six months ended June 30, 2021 is set forth below: Number of Weighted Unvested as of December 31, 2020 15,622,645 $ 71.71 Granted 3,344,454 241.35 Vested (3,561,075) 58.31 Forfeited (463,928) 85.96 Unvested as of June 30, 2021 14,942,096 $ 112.43
Summary of the Effect of Share-Based Compensation on the Condensed Consolidated Statements of Operations	The following table summarizes the effects of share-based compensation on the Company's condensed consolidated statements of operations (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Cost of revenue $ 112 $ 95 $ 211 $ 171 Product development 106,161 69,565 193,056 126,965 Sales and marketing 13,777 8,884 24,657 15,291 General and administrative 26,315 17,636 47,064 31,056 Total $ 146,365 $ 96,180 $ 264,988 $ 173,483

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Basic and Diluted Net Income (Loss) Per Share	The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data): Three Months Ended Six Months Ended 2021 2020 2021 2020 Numerator: Net income (loss) $ 203,678 $ (11,478) $ 242,686 $ (117,369) Net income (loss) attributable to noncontrolling interests (343) — (343) — Net income (loss) attributable to common stockholders $ 204,021 $ (11,478) $ 243,029 $ (117,369) Denominator: Basic shares: Weighted-average common shares outstanding 455,820 440,815 455,618 438,248 Weighted-average unvested shares (389) (698) (415) (719) Weighted-average shares used to compute basic net income (loss) per share: 455,431 440,117 455,203 437,529 Diluted shares: Stock options, restricted stock, and employee stock purchase plan 18,825 — 19,897 — Convertible senior notes 23,351 — 19,585 — Common stock warrants 24,971 — 25,028 — Weighted-average shares used to compute diluted net income (loss) per share: 522,578 440,117 519,713 437,529 Net income (loss) per share attributable to common stockholders: Basic $ 0.45 $ (0.03) $ 0.53 $ (0.27) Diluted $ 0.40 $ (0.03) $ 0.48 $ (0.27)
Antidilutive Securities Excluded from Calculation of Diluted Net Income (Loss) Per Share	The following potential common shares were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Stock options, restricted stock, and employee stock purchase plan 7,743 38,154 6,926 37,072 Common stock warrants 17,390 38,516 17,333 35,565 Convertible senior notes — 27,459 3,845 24,923 Total anti-dilutive securities 25,133 104,129 28,104 97,560

SEGMENT AND GEOGRAPHICAL INFO_2

SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	Information on the reportable segments revenue and segment gross profit are as follows (in thousands): Three Months Ended Six Months Ended Cash App Seller Corporate and Other (i) Total Cash App Seller Corporate and Other (i) Total Revenue Transaction-based revenue $ 110,950 $ 1,116,522 $ — $ 1,227,472 $ 202,909 $ 1,984,296 $ — $ 2,187,205 Subscription and services-based revenue 494,945 151,240 38,993 685,178 931,534 272,332 38,993 1,242,859 Hardware revenue — 43,726 — 43,726 — 72,514 — 72,514 Bitcoin revenue 2,724,296 — — 2,724,296 6,235,364 — — 6,235,364 Segment revenue $ 3,330,191 $ 1,311,488 $ 38,993 $ 4,680,672 $ 7,369,807 $ 2,329,142 $ 38,993 $ 9,737,942 Segment gross profit $ 546,053 $ 585,137 $ 9,874 $ 1,141,064 $ 1,041,538 $ 1,053,153 $ 9,874 $ 2,104,565 Three Months Ended Six Months Ended Cash App Seller Corporate and Other (i) Total Cash App Seller Corporate and Other (i) Total Revenue Transaction-based revenue $ 53,657 $ 628,915 $ — $ 682,572 $ 81,476 $ 1,359,197 $ — $ 1,440,673 Subscription and services-based revenue 271,156 75,119 — 346,275 464,881 177,629 — 642,510 Hardware revenue — 19,322 — 19,322 — 39,997 — 39,997 Bitcoin revenue 875,456 — — 875,456 1,181,554 — — 1,181,554 Segment revenue $ 1,200,269 $ 723,356 $ — $ 1,923,625 $ 1,727,911 $ 1,576,823 $ — $ 3,304,734 Segment gross profit $ 281,063 $ 315,700 $ — $ 596,763 $ 463,795 $ 671,469 $ — $ 1,135,264 (i) Corporate and other represents results related to products and services that are not assigned to a specific reportable segment. Comparable prior period amounts have not been disclosed as they were not material.
Reconciliation of Total Segment Profit to Income before applicable Income Taxes	A reconciliation of total segment gross profit to the Company’s income (loss) before applicable income taxes is as follows (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Total segment gross profit $ 1,141,064 $ 596,763 $ 2,104,565 $ 1,135,264 Less: Product development 326,510 207,730 636,651 403,606 Less: Sales and marketing 375,101 238,096 724,561 432,631 Less: General and administrative 221,020 136,386 416,929 265,881 Less: Transaction and loan losses 48,173 37,603 68,568 146,486 Less: Bitcoin impairment losses 45,266 — 65,126 — Less: Interest expense, net 6,464 14,769 6,717 23,975 Less: Other (income), net (75,788) (25,591) (48,260) (19,729) Income (loss) before applicable income taxes $ 194,318 $ (12,230) $ 234,273 $ (117,586)
Revenue by Geographic Area	Revenue by geography is based on the addresses of the sellers or customers. The following table sets forth revenue by geographic area (in thousands): Three Months Ended Six Months Ended 2021 2020 2021 2020 Revenue United States $ 4,536,603 $ 1,865,985 $ 9,499,938 $ 3,179,571 International 144,069 57,640 238,004 125,163 Total net revenue $ 4,680,672 $ 1,923,625 $ 9,737,942 $ 3,304,734
Long-lived Assets by Geographic Area	The following table sets forth long-lived assets by geographic area (in thousands): June 30, 2021 December 31, 2020 Long-lived assets United States $ 1,394,141 $ 1,086,379 International 91,615 58,342 Total long-lived assets $ 1,485,756 $ 1,144,721

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Cash and Cash Equivalents	The supplemental disclosures of cash flow information consist of the following (in thousands): Six Months Ended 2021 2020 Analysis of cash, cash equivalents, and restricted cash Cash and cash equivalents $ 4,581,234 $ 1,972,762 Short-term restricted cash 15,088 19,761 Long-term restricted cash 74,569 13,685 Cash, cash equivalents, and restricted cash $ 4,670,891 $ 2,006,208
Restrictions on Cash and Cash Equivalents	The supplemental disclosures of cash flow information consist of the following (in thousands): Six Months Ended 2021 2020 Analysis of cash, cash equivalents, and restricted cash Cash and cash equivalents $ 4,581,234 $ 1,972,762 Short-term restricted cash 15,088 19,761 Long-term restricted cash 74,569 13,685 Cash, cash equivalents, and restricted cash $ 4,670,891 $ 2,006,208
Cash Flow, Supplemental Disclosures	Six Months Ended 2021 2020 Supplemental Cash Flow Data: Cash paid for interest $ 3,945 $ 2,553 Cash paid for income taxes 8,009 3,156 Supplemental disclosures of non-cash investing and financing activities: Right-of-use assets obtained in exchange for operating lease obligations 36,667 304,132 Purchases of property and equipment in accounts payable and accrued expenses 17,115 8,010 Unpaid business combination purchase price 50,528 7,439 Fair value of common stock issued and issuable in future related to business combination (10,007) (35,318) Fair value of common stock issued to settle the conversion of senior notes (394,560) (77,614) Fair value of shares received to settle senior note hedges 1,292,705 71,062 Bitcoin lent to third party borrowers $ (6,334) $ —

DESCRIPTION OF BUSINESS AND S_3

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	Jan. 01, 2021USD ($)	Jun. 30, 2021USD ($)customer	Jun. 30, 2020USD ($)customer	Jun. 30, 2021USD ($)third_party_processorcustomer	Jun. 30, 2020USD ($)customer	Dec. 31, 2020USD ($)third_party_processor
Concentration Risk [Line Items]
Advertising costs		$ 87,400	$ 34,000	$ 173,300	$ 70,100
Selling and marketing expenses not directly related to a revenue generating transaction		189,000	$ 149,900	372,700	$ 256,700
Impact of accounting standards update adoption		$ 2,688,852		$ 2,688,852		$ 2,681,569
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2020-06 | Convertible Debt
Concentration Risk [Line Items]
Debt instrument increase	$ 399,700
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2020-06 | Retained earnings (Accumulated deficit)
Concentration Risk [Line Items]
Impact of accounting standards update adoption	103,000
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2020-06 | Additional paid-in capital
Concentration Risk [Line Items]
Impact of accounting standards update adoption	$ (502,700)
Minimum
Concentration Risk [Line Items]
Settlements receivable period				1 day
Maximum
Concentration Risk [Line Items]
Settlements receivable period				2 days
Revenue Benchmark | Customer Concentration Risk
Concentration Risk [Line Items]
Number of customers accounting for greater than 10% of total net revenue | customer		0	0	0	0
Settlements Receivable | Credit Concentration Risk
Concentration Risk [Line Items]
Number of third party processors | third_party_processor				2		2
Settlements Receivable | Credit Concentration Risk | Third Party Processor One
Concentration Risk [Line Items]
Concentration risk				49.00%		59.00%
Settlements Receivable | Credit Concentration Risk | Third Party Processor Two
Concentration Risk [Line Items]
Concentration risk				36.00%		27.00%

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 4,680,672	$ 1,923,625	$ 9,737,942	$ 3,304,734
Transaction-based revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,227,472	682,572	2,187,205	1,440,673
Subscription and services-based revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	631,402	328,763	1,156,467	584,646
Revenues from other sources	53,776	17,512	86,392	57,864
Revenue	685,178	346,275	1,242,859	642,510
Hardware revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	43,726	19,322	72,514	39,997
Bitcoin revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 2,724,296	$ 875,456	$ 6,235,364	$ 1,181,554

REVENUE - Deferred Revenue (Det

REVENUE - Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Movement in Deferred Revenue [Roll Forward]
Deferred revenue, beginning of the period	$ 54,726	$ 47,046	$ 51,804	$ 44,331
Deferred revenue, end of the period	59,501	51,549	59,501	51,549
Deferred revenue arising from business combination	5,380	0	5,380	0
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$ 20,778	$ 16,288	$ 31,743	$ 26,483

INVESTMENTS IN DEBT SECURITIE_2

INVESTMENTS IN DEBT SECURITIES - Short-Term and Long-Term Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,961,216
Fair Value	1,961,996
Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,014,007	$ 692,901
Gross Unrealized Gains	1,061	2,478
Gross Unrealized Losses	(165)	(267)
Fair Value	1,014,903	695,112
Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	947,209	461,455
Gross Unrealized Gains	1,067	2,552
Gross Unrealized Losses	(1,183)	(57)
Fair Value	947,093	463,950
U.S. agency securities | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	80,250	153,386
Gross Unrealized Gains	244	782
Gross Unrealized Losses	(3)	(164)
Fair Value	80,491	154,004
U.S. agency securities | Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	152,423	168,762
Gross Unrealized Gains	203	519
Gross Unrealized Losses	(92)	(3)
Fair Value	152,534	169,278
Corporate bonds | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	287,231	76,957
Gross Unrealized Gains	497	256
Gross Unrealized Losses	(91)	(14)
Fair Value	287,637	77,199
Corporate bonds | Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	475,462	174,655
Gross Unrealized Gains	519	1,401
Gross Unrealized Losses	(781)	(42)
Fair Value	475,200	176,014
Commercial paper | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	153,926	4,999
Gross Unrealized Gains	1	0
Gross Unrealized Losses	0	0
Fair Value	153,927	4,999
Municipal securities | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	12,565	10,377
Gross Unrealized Gains	11	57
Gross Unrealized Losses	0	(3)
Fair Value	12,576	10,431
Municipal securities | Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	16,890	1,045
Gross Unrealized Gains	18	15
Gross Unrealized Losses	(13)	0
Fair Value	16,895	1,060
U.S. government securities | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	424,955	404,194
Gross Unrealized Gains	251	1,244
Gross Unrealized Losses	(19)	(4)
Fair Value	425,187	405,434
U.S. government securities | Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	276,984	91,642
Gross Unrealized Gains	226	433
Gross Unrealized Losses	(293)	(2)
Fair Value	276,917	92,073
Foreign government securities | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	55,080	42,988
Gross Unrealized Gains	57	139
Gross Unrealized Losses	(52)	(82)
Fair Value	55,085	43,045
Foreign government securities | Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	25,450	25,351
Gross Unrealized Gains	101	184
Gross Unrealized Losses	(4)	(10)
Fair Value	$ 25,547	$ 25,525

INVESTMENTS IN DEBT SECURITIE_3

INVESTMENTS IN DEBT SECURITIES - Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Short-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	$ 407,661	$ 126,843
Less than 12 Months, Gross Unrealized Losses	(156)	(265)
Greater than 12 months, Fair Value	1,536	2,505
Greater than 12 months, Gross Unrealized Losses	(9)	(2)
Total, Fair Value	409,197	129,348
Total, Gross Unrealized Losses	(165)	(267)
Short-term debt securities | U.S. agency securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	17,296	41,711
Less than 12 Months, Gross Unrealized Losses	(3)	(162)
Greater than 12 months, Fair Value	0	2,505
Greater than 12 months, Gross Unrealized Losses	0	(2)
Total, Fair Value	17,296	44,216
Total, Gross Unrealized Losses	(3)	(164)
Short-term debt securities | Corporate bonds
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	171,862	15,255
Less than 12 Months, Gross Unrealized Losses	(82)	(14)
Greater than 12 months, Fair Value	1,536	0
Greater than 12 months, Gross Unrealized Losses	(9)	0
Total, Fair Value	173,398	15,255
Total, Gross Unrealized Losses	(91)	(14)
Short-term debt securities | Municipal securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value		2,566
Less than 12 Months, Gross Unrealized Losses		(3)
Greater than 12 months, Fair Value		0
Greater than 12 months, Gross Unrealized Losses		0
Total, Fair Value		2,566
Total, Gross Unrealized Losses		(3)
Short-term debt securities | U.S. government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	185,890	45,970
Less than 12 Months, Gross Unrealized Losses	(19)	(4)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	185,890	45,970
Total, Gross Unrealized Losses	(19)	(4)
Short-term debt securities | Foreign government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	32,613	21,341
Less than 12 Months, Gross Unrealized Losses	(52)	(82)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	32,613	21,341
Total, Gross Unrealized Losses	(52)	(82)
Long-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	707,089	49,182
Less than 12 Months, Gross Unrealized Losses	(1,183)	(57)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	707,089	49,182
Total, Gross Unrealized Losses	(1,183)	(57)
Long-term debt securities | U.S. agency securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	91,041	1,406
Less than 12 Months, Gross Unrealized Losses	(92)	(3)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	91,041	1,406
Total, Gross Unrealized Losses	(92)	(3)
Long-term debt securities | Corporate bonds
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	344,305	28,189
Less than 12 Months, Gross Unrealized Losses	(781)	(42)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	344,305	28,189
Total, Gross Unrealized Losses	(781)	(42)
Long-term debt securities | Municipal securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	12,499
Less than 12 Months, Gross Unrealized Losses	(13)
Greater than 12 months, Fair Value	0
Greater than 12 months, Gross Unrealized Losses	0
Total, Fair Value	12,499
Total, Gross Unrealized Losses	(13)
Long-term debt securities | U.S. government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	245,982	8,658
Less than 12 Months, Gross Unrealized Losses	(293)	(2)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	245,982	8,658
Total, Gross Unrealized Losses	(293)	(2)
Long-term debt securities | Foreign government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	13,262	10,929
Less than 12 Months, Gross Unrealized Losses	(4)	(10)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	13,262	10,929
Total, Gross Unrealized Losses	$ (4)	$ (10)

INVESTMENTS IN DEBT SECURITIE_4

INVESTMENTS IN DEBT SECURITIES - Contractual Maturities of Short-Term and Long-Term Investments (Details) $ in Thousands	Jun. 30, 2021USD ($)
Amortized Cost
Due in one year or less	$ 1,014,007
Due in one to five years	947,209
Amortized Cost	1,961,216
Fair Value
Due in one year or less	1,014,903
Due in one to five years	947,093
Fair Value	$ 1,961,996

CUSTOMER FUNDS - Assets Underly

CUSTOMER FUNDS - Assets Underlying Customer Funds (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Customer funds	$ 2,847,477	$ 2,037,832
Customer Funds In Transit
Debt Securities, Available-for-sale [Line Items]
Customer funds	0	262,562
U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Customer funds	80,086	113,178
U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Customer funds	418,096	333,346
Cash
Debt Securities, Available-for-sale [Line Items]
Customer funds	113,223	145,577
Cash Equivalents | Money market funds
Debt Securities, Available-for-sale [Line Items]
Customer funds	1,550,445	777,193
Cash Equivalents | Reverse repurchase agreement
Debt Securities, Available-for-sale [Line Items]
Customer funds	654,928	246,880
Cash Equivalents | U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Customer funds	5,700	47,300
Cash Equivalents | U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Customer funds	$ 24,999	$ 111,796

CUSTOMER FUNDS - Investments wi

CUSTOMER FUNDS - Investments within Customer Funds (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,961,216
Fair Value	1,961,996
Customer funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	498,211	$ 446,479
Gross Unrealized Gains	18	50
Gross Unrealized Losses	(47)	(5)
Fair Value	498,182	446,524
Customer funds | U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	80,092	113,156
Gross Unrealized Gains	1	22
Gross Unrealized Losses	(7)	0
Fair Value	80,086	113,178
Customer funds | U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	418,119	333,323
Gross Unrealized Gains	17	28
Gross Unrealized Losses	(40)	(5)
Fair Value	$ 418,096	$ 333,346

CUSTOMER FUNDS - Debt Securitie

CUSTOMER FUNDS - Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - Customer funds - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	$ 251,071	$ 73,609
Less than 12 Months, Gross Unrealized Losses	(47)	(5)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	251,071	73,609
Total, Gross Unrealized Losses	(47)	(5)
U.S. agency securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	30,091
Less than 12 Months, Gross Unrealized Losses	(7)
Greater than 12 months, Fair Value	0
Greater than 12 months, Gross Unrealized Losses	0
Total, Fair Value	30,091
Total, Gross Unrealized Losses	(7)
U.S. government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	220,980	73,609
Less than 12 Months, Gross Unrealized Losses	(40)	(5)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	220,980	73,609
Total, Gross Unrealized Losses	$ (40)	$ (5)

CUSTOMER FUNDS - Contractual Ma

CUSTOMER FUNDS - Contractual Maturities of Short-Term and Long-Term Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Amortized Cost
Due in one year or less	$ 1,014,007
Due in one to five years	947,209
Amortized Cost	1,961,216
Fair Value
Due in one year or less	1,014,903
Due in one to five years	947,093
Fair Value	1,961,996
Customer funds
Amortized Cost
Due in one year or less	498,211
Due in one to five years	0
Amortized Cost	498,211	$ 446,479
Fair Value
Due in one year or less	498,182
Due in one to five years	0
Fair Value	$ 498,182	$ 446,524

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	$ 2,847,477	$ 2,037,832
Short-term debt securities	1,014,903	695,112
Long-term debt securities	947,093	463,950
U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	80,086	113,178
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	418,096	333,346
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable equity security	0	376,258
Total	5,857,259	4,052,716
Fair Value, Measurements, Recurring | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	2,473,688	1,694,736
Customer funds	1,550,445	777,193
Fair Value, Measurements, Recurring | Level 1 | Reverse repurchase agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	654,928	246,880
Fair Value, Measurements, Recurring | Level 1 | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer funds	0	0
Short-term debt securities	0	0
Long-term debt securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Fair Value, Measurements, Recurring | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Short-term debt securities	0	0
Long-term debt securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	32,999	15,000
Customer funds	443,095	445,142
Short-term debt securities	425,187	405,434
Long-term debt securities	276,917	92,073
Fair Value, Measurements, Recurring | Level 1 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Long-term debt securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Foreign government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Long-term debt securities	0	0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable equity security	0	0
Total	1,403,578	863,219
Fair Value, Measurements, Recurring | Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer funds	0	0
Fair Value, Measurements, Recurring | Level 2 | Reverse repurchase agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	0	0
Fair Value, Measurements, Recurring | Level 2 | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	41,186
Customer funds	85,786	160,478
Short-term debt securities	80,491	154,004
Long-term debt securities	152,534	169,278
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	56,491	0
Fair Value, Measurements, Recurring | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	1,409	0
Short-term debt securities	287,637	77,199
Long-term debt securities	475,200	176,014
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	153,927	4,999
Fair Value, Measurements, Recurring | Level 2 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer funds	0	0
Short-term debt securities	0	0
Long-term debt securities	0	0
Fair Value, Measurements, Recurring | Level 2 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	12,576	10,431
Long-term debt securities	16,895	1,060
Fair Value, Measurements, Recurring | Level 2 | Foreign government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	55,085	43,045
Long-term debt securities	25,547	25,525
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable equity security	0	0
Total	0	0
Fair Value, Measurements, Recurring | Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer funds	0	0
Fair Value, Measurements, Recurring | Level 3 | Reverse repurchase agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer funds	0	0
Short-term debt securities	0	0
Long-term debt securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Fair Value, Measurements, Recurring | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Short-term debt securities	0	0
Long-term debt securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer funds	0	0
Short-term debt securities	0	0
Long-term debt securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Long-term debt securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Foreign government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Long-term debt securities	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value and Carrying Value of Convertible Senior Notes (Details) - Level 2 - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	$ 4,845,955	$ 2,586,924
Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	7,841,301	5,693,241
2031 Senior Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	986,069	0
2031 Senior Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	1,009,930	0
2026 Senior Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	986,224	0
2026 Senior Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	1,017,950	0
2027 Convertible Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	566,540	458,496
2027 Convertible Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	671,157	644,000
2026 Convertible Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	566,769	482,204
2026 Convertible Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	649,290	638,250
2025 Convertible Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	988,835	858,332
2025 Convertible Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	2,072,100	1,912,440
2023 Convertible Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	746,837	780,046
2023 Convertible Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	2,371,017	2,417,820
2022 Convertible Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	4,681	7,846
2022 Convertible Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	$ 49,857	$ 80,731

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value and Carrying Value of Loans Held for Sale (Details) - Level 3 - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	$ 807,402	$ 462,665
Fair Value (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	$ 912,254	$ 467,805

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		18 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	$ 807,402		$ 807,402		$ 807,402	$ 462,665
Loans held for sale forgiven	134,900		290,300		336,600
Revenue	4,680,672	$ 1,923,625	9,737,942	$ 3,304,734
Paycheck Protection Program, CARES Act Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	690,700		690,700		$ 690,700
Revenue	14,900		24,300
Loans Receivable Held-For-Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Excess amortized cost over fair value of loans	$ 700	$ 500	$ 1,600	$ 22,500

LOANS HELD FOR INVESTMENT (Deta

LOANS HELD FOR INVESTMENT (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Loans held for investment, net of allowance for loan losses	$ 33,130,000	$ 0
Allowance for loan losses, charge-offs	0
Allowance for loans losses, recoveries	$ 0
Nonperforming Financial Instruments
Financing Receivable, Past Due [Line Items]
Loans held for investment, threshold period past due	90 days
Delinquent
Financing Receivable, Past Due [Line Items]
Loans held for investment, threshold period past due	60 days

PROPERTY AND EQUIPMENT, NET - S

PROPERTY AND EQUIPMENT, NET - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 527,388	$ 461,641
Less: Accumulated depreciation and amortization	(266,505)	(228,121)
Property and equipment, net	260,883	233,520
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	192,619	168,125
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	156,205	139,174
Capitalized software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	139,033	119,452
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 39,531	$ 34,890

PROPERTY AND EQUIPMENT, NET - N

PROPERTY AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense on property and equipment	$ 19.2	$ 16.9	$ 41.5	$ 32.8

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - TIDAL - USD ($) $ in Thousands	May 20, 2021	Apr. 30, 2021	Sep. 30, 2021
Business Acquisition [Line Items]
Percent of outstanding shares acquired		86.23%
Option period to acquire remaining noncontrolling interest	3 years
Cash consideration		$ 176,663
Equity consideration (in shares)		41,138
Equity consideration		$ 10,071
Goodwill amount expected to be tax deductible		88,500
Intangible assets (excluding goodwill) amount expected to be tax deductible		111,000
Deferred consideration		$ 50,528
Deferred consideration, withheld period		4 years
Indemnification assets		$ 24,500
Purchase consideration has been withheld related to defined post-acquisition activities which will be expensed in future periods		$ 30,500
Forecast
Business Acquisition [Line Items]
Cash consideration			$ 227,200

ACQUISITIONS - Assets Acquired

ACQUISITIONS - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Recognized amounts of identifiable assets acquired and liabilities assumed:
Goodwill		$ 501,400	$ 316,701
TIDAL
Consideration:
Cash	$ 176,663
Deferred consideration	50,528
Stock (41,138 shares of Class A common stock)	$ 10,071
Equity consideration (in shares)	41,138
Total consideration	$ 237,262
Recognized amounts of identifiable assets acquired and liabilities assumed:
Current assets (inclusive of cash acquired of $12,358)	33,294
Cash acquired	12,358
Other non-current assets	33,747
Accrued expenses and other current liabilities	(67,789)
Other non-current liabilities	(39,625)
Total identifiable net assets acquired	100,627
Noncontrolling interests	(48,192)
Goodwill	184,827
Total	237,262
TIDAL | Intangible customer assets
Recognized amounts of identifiable assets acquired and liabilities assumed:
Intangible assets	69,000
TIDAL | Intangible technology assets
Recognized amounts of identifiable assets acquired and liabilities assumed:
Intangible assets	29,000
TIDAL | Intangible trade name
Recognized amounts of identifiable assets acquired and liabilities assumed:
Intangible assets	35,000
TIDAL | Intangible other assets
Recognized amounts of identifiable assets acquired and liabilities assumed:
Intangible assets	$ 8,000

GOODWILL - Change in Carrying V

GOODWILL - Change in Carrying Value of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 316,701
Acquisitions	184,827
Other	(128)
Goodwill, ending balance	501,400
Corporate and Other
Goodwill [Roll Forward]
Goodwill, beginning balance	0
Acquisitions	184,827
Other	0
Goodwill, ending balance	184,827
Cash App | Operating Segments
Goodwill [Roll Forward]
Goodwill, beginning balance	128,838
Acquisitions	0
Other	(128)
Goodwill, ending balance	128,710
Seller | Operating Segments
Goodwill [Roll Forward]
Goodwill, beginning balance	187,863
Acquisitions	0
Other	0
Goodwill, ending balance	$ 187,863

GOODWILL - Narrative (Details)

GOODWILL - Narrative (Details) - segment	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Number of reportable segments		2
Number of operating segments	2

ACQUIRED INTANGIBLE ASSETS - Sc

ACQUIRED INTANGIBLE ASSETS - Schedule of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 343,022	$ 202,326
Accumulated Amortization	(80,826)	(64,714)
Net	$ 262,196	$ 137,612	$ 129,796	$ 99,802	$ 81,936	$ 69,079
Technology assets
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life	5 years	5 years
Cost	$ 148,540	$ 119,508
Accumulated Amortization	(52,652)	(43,084)
Net	$ 95,888	$ 76,424
Customer assets
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life	15 years	11 years
Cost	$ 127,422	$ 58,556
Accumulated Amortization	(14,367)	(10,796)
Net	$ 113,055	$ 47,760
Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life	9 years	6 years
Cost	$ 53,340	$ 18,529
Accumulated Amortization	(10,534)	(8,031)
Net	$ 42,806	$ 10,498
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life	9 years	8 years
Cost	$ 13,720	$ 5,733
Accumulated Amortization	(3,273)	(2,803)
Net	$ 10,447	$ 2,930

ACQUIRED INTANGIBLE ASSETS - Ch

ACQUIRED INTANGIBLE ASSETS - Change in Carrying Value of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Finite-lived Intangible Assets [Roll Forward]
Acquired intangible assets, net, beginning of the period	$ 129,796	$ 81,936	$ 137,612	$ 69,079
Acquisitions	141,000	22,000	141,000	39,009
Amortization expense	(9,234)	(4,134)	(16,118)	(8,286)
Other	634	0	(298)	0
Acquired intangible assets, net, end of the period	$ 262,196	$ 99,802	$ 262,196	$ 99,802

ACQUIRED INTANGIBLE ASSETS - Fu

ACQUIRED INTANGIBLE ASSETS - Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2021	$ 20,781
2022	39,535
2023	38,284
2024	35,306
2025	28,479
Thereafter	99,811
Net	$ 262,196	$ 129,796	$ 137,612	$ 99,802	$ 81,936	$ 69,079

OTHER CONSOLIDATED BALANCE SH_5

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Loans held for investment, net of allowance for loan losses	$ 33,130	$ 0
Inventory, net	58,786	61,129
Restricted cash	15,088	30,279	$ 19,761
Processing costs receivable	213,014	148,606
Prepaid expenses	55,658	34,279
Accounts receivable, net	75,266	41,960
Other	142,520	66,814
Total	$ 593,462	$ 383,067

OTHER CONSOLIDATED BALANCE SH_6

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued expenses	$ 169,166	$ 126,710
Square Payroll payable	67,236	16,990
Accrued royalties	48,454	0
Accrued transaction losses	48,480	70,557
Accounts payable	55,053	47,089
Deferred revenue, current	52,389	44,908
Current portion of long-term debt	4,681	0
Other	70,354	54,596
Total	$ 515,813	$ 360,850

OTHER CONSOLIDATED BALANCE SH_7

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Reserve for Transaction Losses (Details) - Transaction Losses - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Loss Contingency Accrual [Roll Forward]
Accrued transaction losses, beginning of the period	$ 48,622	$ 96,661	$ 70,557	$ 34,771
Provision for transaction losses	27,784	32,770	21,042	112,073
Charge-offs to accrued transaction losses	(27,926)	(20,370)	(43,119)	(37,783)
Accrued transaction losses, end of the period	$ 48,480	$ 109,061	$ 48,480	$ 109,061

OTHER CONSOLIDATED BALANCE SH_8

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Transaction Losses
Loss Contingencies [Line Items]
Provisions for transaction losses realized and written-off within the same period	$ 80.3	$ 58.3	$ 162.4	$ 97

OTHER CONSOLIDATED BALANCE SH_9

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) - Other Non-Current Assets (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Acquired Indefinite-lived Intangible Assets [Line Items]
Investment in non-marketable equity securities	$ 86,971		$ 32,510		$ 86,971
Investment in marketable equity security	0		376,258		0
Investment in bitcoin	154,888		50,000		154,888
Restricted cash	74,569		13,526	$ 13,685	74,569	$ 13,685
Other	66,176		26,956		66,176
Total	382,604		499,250		382,604
Investment in marketable security, gain on sale	73,300				44,400
Investment in bitcoin loaned to third party borrowers	6,300				6,300
Bitcoin impairment losses	45,266			$ 0	65,126	$ 0
Bitcoin
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible asset acquired		$ 170,000	$ 50,000
Bitcoin impairment losses	45,300				65,100
Fair value of bitcoin investment	281,400				281,400
Amount of fair value in excess of carrying value for bitcoin investment	$ 126,500				$ 126,500

OTHER CONSOLIDATED BALANCE S_10

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Statutory liabilities	$ 125,849	$ 75,370
Other	60,520	9,921
Total	$ 186,369	$ 85,291

INDEBTEDNESS - Facility Narrati

INDEBTEDNESS - Facility Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	May 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jan. 28, 2021	Dec. 31, 2020	Nov. 09, 2020	May 28, 2020
Debt Instrument [Line Items]
Paycheck protection program liquidity facility advances outstanding		$ 823,683,000		$ 823,683,000			$ 464,094,000
Line of Credit | Paycheck Protection Program Liquidity Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 1,000,000,000			$ 500,000,000
Paycheck protection program liquidity facility advances outstanding		823,700,000		823,700,000
Revolving Credit Facility | Line of Credit | 2020 Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 500,000,000
Debt covenant, minimum quarterly liquidity amount	$ 250,000,000
Unused commitment fee percentage	0.15%
Amounts drawn to date		0		0
Letters of credit outstanding		0		0
Remaining borrowing capacity		500,000,000		500,000,000
Unused commitment fees		$ 200,000	$ 100,000	$ 400,000	$ 100,000
Revolving Credit Facility | Line of Credit | Federal Funds Rate | 2020 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | Line of Credit | LIBOR | 2020 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Revolving Credit Facility | Line of Credit | LIBOR | Minimum | 2020 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Additional basis spread on variable rate	0.25%
Revolving Credit Facility | Line of Credit | LIBOR | Maximum | 2020 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Additional basis spread on variable rate	0.75%
Revolving Credit Facility | Convertible Debt | Credit Agreement, Second Amendment
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 3,600,000,000

INDEBTEDNESS - Senior Unsecured

INDEBTEDNESS - Senior Unsecured Notes Narrative (Details) - Senior Notes $ in Millions	May 20, 2021USD ($)
Senior Unsecured Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 2,000
Redemption price, percentage	100.00%
Redemption price, premium rate	1.00%
Debt repurchase, percentage	101.00%
Debt default, percentage of interest by trustee or holders (at least)	25.00%
Discounts and commissions payable	$ 22.5
Third party offering costs	$ 5.7
Senior Unsecured Notes | US Treasury (UST) Interest Rate
Debt Instrument [Line Items]
Redemption price, premium, basis spread on variable rate	0.50%
2026 Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,000
Interest rate	2.75%
Effective interest rate	3.06%
2031 Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,000
Interest rate	3.50%
Effective interest rate	3.69%

INDEBTEDNESS - Convertible Note

INDEBTEDNESS - Convertible Notes Narrative (Details) - Convertible Debt $ / shares in Units, shares in Millions	Nov. 13, 2020USD ($)day$ / shares	Mar. 05, 2020USD ($)day$ / shares	May 25, 2018USD ($)day$ / shares	Mar. 06, 2017USD ($)day$ / shares	Jun. 30, 2021USD ($)shares	Jun. 30, 2021USD ($)shares	Jun. 30, 2021USD ($)shares	Jan. 01, 2021	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Conversion price (in USD per share) | $ / shares		$ 121.01	$ 77.85	$ 22.95
Carrying amount of equity component									$ 502,708,000
Issuance costs attributable to the liability component									28,958,000
2026 and 2027 Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,150,000,000
Conversion rate	0.003343
Conversion price (in USD per share) | $ / shares	$ 299.13
Redemption price, percentage	100.00%
Carrying amount of equity component	$ 198,000,000
Discounts and commissions payable	17,500,000
Third party offering costs	$ 1,000,000
Amount of if-converted value in excess of outstanding principal amount					$ 0	$ 0	$ 0
2026 and 2027 Notes | Debt Instrument, Conversion Term One
Debt Instrument [Line Items]
Threshold trading days | day	20
Threshold consecutive trading days | day	30
Threshold percentage of stock price trigger	130.00%
2026 and 2027 Notes | Debt Instrument Conversion Term Two
Debt Instrument [Line Items]
Threshold trading days | day	5
Threshold consecutive trading days | day	5
Threshold percentage of stock price trigger	98.00%
2026 Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 575,000,000
Interest rate	0.00%
Conversion price (in USD per share) | $ / shares	$ 299.13
Carrying amount of equity component									$ 85,595,000
Effective interest rate	3.35%								3.35%
Issuance costs attributable to the liability component									$ 7,711,000
2026 Convertible Notes | Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Effective interest rate								0.49%
2027 Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 575,000,000
Interest rate	0.25%
Conversion price (in USD per share) | $ / shares	$ 299.13
Carrying amount of equity component									$ 109,207,000
Effective interest rate	3.66%								3.66%
Issuance costs attributable to the liability component									$ 7,370,000
2027 Convertible Notes | Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Effective interest rate								0.30%
2025 Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,000,000,000
Interest rate		0.125%
Conversion rate		0.0082641
Conversion price (in USD per share) | $ / shares		$ 121.01
Redemption price, percentage		100.00%
Carrying amount of equity component		$ 154,600,000							$ 152,258,000
Effective interest rate		3.81%							3.81%
Discounts and commissions payable		$ 14,300,000
Third party offering costs		900,000
Issuance costs attributable to the liability component	$ 15,400,000	$ 12,800,000							$ 11,333,000
Amount of if-converted value in excess of outstanding principal amount					1,000,000,000	1,000,000,000	1,000,000,000
2025 Convertible Notes | Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Effective interest rate								0.43%
2025 Convertible Notes | Debt Instrument, Conversion Term One
Debt Instrument [Line Items]
Threshold trading days | day		20
Threshold consecutive trading days | day		30
Threshold percentage of stock price trigger		130.00%
2025 Convertible Notes | Debt Instrument Conversion Term Two
Debt Instrument [Line Items]
Threshold trading days | day		5
Threshold consecutive trading days | day		5
Threshold percentage of stock price trigger		98.00%
2023 Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount			$ 862,500,000
Interest rate			0.50%
Conversion rate			0.0128456
Conversion price (in USD per share) | $ / shares			$ 77.85
Carrying amount of equity component			$ 155,300,000						$ 154,019,000
Effective interest rate			4.69%						4.69%
Discounts and commissions payable			$ 6,000,000
Third party offering costs			800,000
Issuance costs attributable to the liability component			$ 5,600,000						$ 2,474,000
Notes converted					$ 113,400,000
Shares issued upon conversion (in shares) | shares					1.5
Amount of if-converted value in excess of outstanding principal amount					$ 1,600,000,000	1,600,000,000	1,600,000,000
2023 Convertible Notes | Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Effective interest rate								0.66%
2023 Convertible Notes | Debt Instrument, Conversion Term One
Debt Instrument [Line Items]
Threshold trading days | day			20
Threshold consecutive trading days | day			30
Threshold percentage of stock price trigger			130.00%
2023 Convertible Notes | Debt Instrument Conversion Term Two
Debt Instrument [Line Items]
Threshold trading days | day			5
Threshold consecutive trading days | day			5
Threshold percentage of stock price trigger			98.00%
2022 Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount				$ 440,000,000
Interest rate				0.375%
Conversion rate				0.0435749
Conversion price (in USD per share) | $ / shares				$ 22.95
Carrying amount of equity component				$ 86,200,000					$ 1,629,000
Effective interest rate				5.34%					5.34%
Discounts and commissions payable				$ 11,000,000
Third party offering costs				800,000
Issuance costs attributable to the liability component				$ 9,400,000					$ 70,000
Notes converted						$ 3,800,000	435,300,000
Principal payment on conversion of senior notes							$ 219,400,000
Shares issued upon conversion (in shares) | shares						0.2	16.3
Amount of if-converted value in excess of outstanding principal amount					$ 45,400,000	$ 45,400,000	$ 45,400,000
2022 Convertible Notes | Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Effective interest rate								0.93%
2022 Convertible Notes | Debt Instrument, Conversion Term One
Debt Instrument [Line Items]
Threshold trading days | day				20
Threshold consecutive trading days | day				30
Threshold percentage of stock price trigger				130.00%
2022 Convertible Notes | Debt Instrument Conversion Term Two
Debt Instrument [Line Items]
Threshold trading days | day				5
Threshold consecutive trading days | day				5
Threshold percentage of stock price trigger				98.00%

INDEBTEDNESS - Net Carrying Amo

INDEBTEDNESS - Net Carrying Amount of Convertible Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Nov. 13, 2020	Mar. 05, 2020	May 25, 2018	Mar. 06, 2017
Convertible Debt
Debt Instrument [Line Items]
Principal outstanding	$ 4,903,787	$ 3,021,045
Unamortized debt issuance costs	(57,832)
Unamortized debt discount		(405,163)
Unamortized debt issuance costs		(28,958)
Net carrying value	4,845,955	2,586,924
2031 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal outstanding	1,000,000
Unamortized debt issuance costs	(13,931)
Net carrying value	986,069
2026 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal outstanding	1,000,000
Unamortized debt issuance costs	(13,776)
Net carrying value	986,224
2027 Convertible Notes
Debt Instrument [Line Items]
Net carrying value	566,540
2027 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Principal outstanding	575,000	575,000
Unamortized debt issuance costs	(8,460)
Unamortized debt discount		(109,134)
Unamortized debt issuance costs		(7,370)
Net carrying value	566,540	458,496
2026 Convertible Notes
Debt Instrument [Line Items]
Net carrying value	566,769
2026 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Principal outstanding	575,000	575,000
Unamortized debt issuance costs	(8,231)
Unamortized debt discount		(85,085)
Unamortized debt issuance costs		(7,711)
Net carrying value	566,769	482,204
2025 Convertible Notes
Debt Instrument [Line Items]
Net carrying value	988,835
2025 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Principal outstanding	1,000,000	1,000,000
Unamortized debt issuance costs	(11,165)
Unamortized debt discount		(130,335)
Unamortized debt issuance costs		(11,333)	$ (15,400)	$ (12,800)
Net carrying value	988,835	858,332
2023 Convertible Notes
Debt Instrument [Line Items]
Net carrying value	746,837
2023 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Principal outstanding	749,089	862,500
Unamortized debt issuance costs	(2,252)
Unamortized debt discount		(79,980)
Unamortized debt issuance costs		(2,474)			$ (5,600)
Net carrying value	746,837	780,046
2022 Convertible Notes
Debt Instrument [Line Items]
Net carrying value	4,681
2022 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Principal outstanding	4,698	8,545
Unamortized debt issuance costs	(17)
Unamortized debt discount		(629)
Unamortized debt issuance costs		(70)				$ (9,400)
Net carrying value	$ 4,681	$ 7,846

INDEBTEDNESS - Net Carrying A_2

INDEBTEDNESS - Net Carrying Amount of Equity Component of Convertible Notes (Details) - Convertible Debt - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 05, 2020	May 25, 2018	Mar. 06, 2017
Debt Instrument [Line Items]
Amount allocated to conversion option	$ 509,524
Less: allocated issuance costs	(6,816)
Equity component, net	502,708
2027 Convertible Notes
Debt Instrument [Line Items]
Amount allocated to conversion option	111,000
Less: allocated issuance costs	(1,793)
Equity component, net	109,207
2026 Convertible Notes
Debt Instrument [Line Items]
Amount allocated to conversion option	87,000
Less: allocated issuance costs	(1,405)
Equity component, net	85,595
2025 Convertible Notes
Debt Instrument [Line Items]
Amount allocated to conversion option	154,600
Less: allocated issuance costs	(2,342)
Equity component, net	152,258	$ 154,600
2023 Convertible Notes
Debt Instrument [Line Items]
Amount allocated to conversion option	155,250
Less: allocated issuance costs	(1,231)
Equity component, net	154,019		$ 155,300
2022 Convertible Notes
Debt Instrument [Line Items]
Amount allocated to conversion option	1,674
Less: allocated issuance costs	(45)
Equity component, net	$ 1,629			$ 86,200

INDEBTEDNESS - Interest Expense

INDEBTEDNESS - Interest Expense on Convertible Notes (Details) - Convertible Debt - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Contractual interest expense	$ 8,497	$ 1,565	$ 10,225	$ 2,938
Amortization of debt issuance costs	2,305	17,580	4,137	30,108
Total	$ 10,802	$ 19,145	$ 14,362	$ 33,046

INDEBTEDNESS - Convertible No_2

INDEBTEDNESS - Convertible Note Hedge and Warrant Transactions Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Nov. 13, 2020	Mar. 05, 2020	May 25, 2018	Mar. 06, 2017	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021
Debt Instrument [Line Items]
Proceeds from issuance of warrants						$ 0	$ 99,500
Convertible Debt
Debt Instrument [Line Items]
Conversion price of convertible debt (in USD per share)		$ 121.01	$ 77.85	$ 22.95
Conversion price of convertible debt after effect of warrants and note hedge (in USD per share)		$ 161.34	$ 109.26	$ 31.18
Convertible Debt | 2027 Convertible Notes
Debt Instrument [Line Items]
Conversion price of convertible debt (in USD per share)	$ 299.13
Conversion price of convertible debt after effect of warrants and note hedge (in USD per share)	414.18
Convertible Debt | 2026 Convertible Notes
Debt Instrument [Line Items]
Conversion price of convertible debt (in USD per share)	299.13
Conversion price of convertible debt after effect of warrants and note hedge (in USD per share)	$ 368.16
Common Stock Warrant, 2027 Notes
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)	1,920
Warrants, weighted average exercise price (in USD per share)	$ 414.18
Proceeds from issuance of warrants	$ 68,000
Common Stock Warrant, 2026 Notes
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)	1,920
Warrants, weighted average exercise price (in USD per share)	$ 368.16
Proceeds from issuance of warrants	$ 64,600
Common Stock Warrant, 2025 Notes
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)		8,260
Warrants, weighted average exercise price (in USD per share)		$ 161.34
Proceeds from issuance of warrants		$ 99,500
Common Stock Warrant, 2023 Notes
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)			11,100
Warrants, weighted average exercise price (in USD per share)			$ 109.26
Proceeds from issuance of warrants			$ 112,100
Common Stock Warrant, 2022 Notes
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)				19,200
Warrants, weighted average exercise price (in USD per share)				$ 31.18
Proceeds from issuance of warrants				$ 57,200
Shares of common stock received due to exercise of note hedges (in shares)					200	5,500		14,900
Options Held
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)	1,920	8,260	11,100	19,200
Convertible note hedge, option to purchase common stock, price (in USD per share)	$ 299.13	$ 121.01	$ 77.85	$ 22.95
Cost of convertible note hedge		$ 149,200	$ 172,600	$ 92,100
Options Held | 2027 Convertible Notes
Debt Instrument [Line Items]
Cost of convertible note hedge	$ 104,300
Options Held | 2026 Convertible Notes
Debt Instrument [Line Items]
Cost of convertible note hedge	$ 84,600

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (9,360)	$ (752)	$ (8,413)	$ (217)

STOCKHOLDERS' EQUITY - Common S

STOCKHOLDERS' EQUITY - Common Stock, Warrants, Conversion of Convertible Notes and Exercise Convertible Note Hedges Narrative (Details)	3 Months Ended	6 Months Ended	52 Months Ended
	Jun. 30, 2021$ / sharesshares	Jun. 30, 2021vote$ / sharesshares	Jun. 30, 2021$ / sharesshares	Dec. 31, 2020$ / sharesshares	Nov. 13, 2020$ / sharesshares	Mar. 05, 2020$ / sharesshares	May 25, 2018$ / sharesshares	Mar. 06, 2017$ / sharesshares
2023 Convertible Notes | Convertible Debt
Class of Stock [Line Items]
Shares issued upon conversion (in shares)	1,500,000
Common Stock Warrant, 2022 Notes
Class of Stock [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)								19,200,000
Warrants, weighted average exercise price (in USD per share) | $ / shares								$ 31.18
Number of warrants exercised (in shares)	0	0	0
Shares of common stock received due to exercise of note hedges (in shares)	200,000	5,500,000	14,900,000
Common Stock Warrant, 2023 Notes
Class of Stock [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)							11,100,000
Warrants, weighted average exercise price (in USD per share) | $ / shares							$ 109.26
Number of warrants exercised (in shares)	0	0	0
Common Stock Warrant, 2025 Notes
Class of Stock [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)						8,260,000
Warrants, weighted average exercise price (in USD per share) | $ / shares						$ 161.34
Number of warrants exercised (in shares)	0	0	0
Common Stock Warrant, 2026 Notes
Class of Stock [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)					1,920,000
Warrants, weighted average exercise price (in USD per share) | $ / shares					$ 368.16
Number of warrants exercised (in shares)	0	0	0
Common Stock Warrant, 2027 Notes
Class of Stock [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)					1,920,000
Warrants, weighted average exercise price (in USD per share) | $ / shares					$ 414.18
Number of warrants exercised (in shares)	0	0	0
Class A
Class of Stock [Line Items]
Common stock, number of votes entitled for each share held (in votes) | vote		1
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, par value (in USD per share) | $ / shares	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Common stock, shares outstanding (in shares)	395,321,647	395,321,647	395,321,647	390,187,079
Class B
Class of Stock [Line Items]
Common stock, number of votes entitled for each share held (in votes) | vote		10
Common stock, shares authorized (in shares)	500,000,000	500,000,000	500,000,000	500,000,000
Common stock, par value (in USD per share) | $ / shares	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Common stock, shares outstanding (in shares)	62,501,770	62,501,770	62,501,770	65,997,697

STOCKHOLDERS' EQUITY - Stock Pl

STOCKHOLDERS' EQUITY - Stock Plans and Share Based Compensation Narrative (Details) $ in Thousands	Nov. 17, 2015shares	Jun. 30, 2021USD ($)shares	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)planshares	Jun. 30, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share based compensation plans | plan				2
Employee stock purchase plan, compensation expense | $		$ 146,365	$ 96,180	$ 264,988	$ 173,483
Capitalized share-based compensation expense | $		4,000	3,500	7,400	5,800
Unrecognized compensation cost | $		1,600,000		$ 1,600,000
Unrecognized compensation cost, period for recognition				3 years 7 days
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plan, compensation expense | $		$ 8,000	$ 4,100	$ 16,800	$ 8,800
2009 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance (in shares)	0
2009 Stock Option Plan | Stock options, RSAs, and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments outstanding (in shares)		8,124,460		8,124,460
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance (in shares)		119,444,950		119,444,950
Shares reserved for future issuance (in shares)	30,000,000
Shares reserved for future issuance, percentage of annual increase	5.00%
2015 Equity Incentive Plan | Stock options, RSAs, and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments outstanding (in shares)		17,690,873		17,690,873
2015 Equity Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance, amount of annual increase (in shares)	40,000,000

STOCKHOLDERS' EQUITY - Stock Op

STOCKHOLDERS' EQUITY - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Number of Stock Options Outstanding
Beginning balance (in shares)	13,630,882
Granted (in shares)	183,441
Exercised (in shares)	(2,941,086)
Ending balance (in shares)	10,873,237	13,630,882
Weighted Average Exercise Price
Beginning balance (in USD per share)	$ 17.84
Granted (in USD per share)	253.79
Exercised (in USD per share)	12.92
Ending balance (in USD per share)	$ 23.16	$ 17.84
Options Exercisable
Options exercisable (in shares)	9,415,552
Options exercisable (in USD per share)	$ 13.51
Additional Disclosures
Weighted average remaining contractual term, options outstanding	4 years 10 days	3 years 10 months 2 days
Weighted average remaining contractual term, options exercisable	3 years 3 months 25 days
Aggregate intrinsic value, options outstanding	$ 2,400,927	$ 2,723,394
Aggregate intrinsic value, options exercisable	$ 2,168,406

STOCKHOLDERS' EQUITY - Restrict

STOCKHOLDERS' EQUITY - Restricted Stock Awards and Restricted Stock Units Activity (Details) - RSAs and RSUs	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Number of shares
Beginning balance (in shares) | shares	15,622,645
Granted (in shares) | shares	3,344,454
Vested (in shares) | shares	(3,561,075)
Forfeited (in shares) | shares	(463,928)
Ending balance (in shares) | shares	14,942,096
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share) | $ / shares	$ 71.71
Granted (in USD per share) | $ / shares	241.35
Vested (in USD per share) | $ / shares	58.31
Forfeited (in USD per share) | $ / shares	85.96
Ending balance (in USD per share) | $ / shares	$ 112.43

STOCKHOLDERS' EQUITY - Effects

STOCKHOLDERS' EQUITY - Effects of Share-Based Compensation on Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 146,365	$ 96,180	$ 264,988	$ 173,483
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	112	95	211	171
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	106,161	69,565	193,056	126,965
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	13,777	8,884	24,657	15,291
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 26,315	$ 17,636	$ 47,064	$ 31,056

NET INCOME (LOSS) PER SHARE - C

NET INCOME (LOSS) PER SHARE - Calculation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net income (loss)	$ 203,678	$ 39,008	$ (11,478)	$ (105,891)	$ 242,686	$ (117,369)
Net income (loss) attributable to noncontrolling interests	(343)		0		(343)	0
Net income (loss) attributable to common stockholders, basic	204,021		(11,478)		243,029	(117,369)
Net income (loss) attributable to common stockholders, basic, diluted	$ 204,021		$ (11,478)		$ 243,029	$ (117,369)
Basic shares:
Weighted-average common shares outstanding (in shares)	455,820		440,815		455,618	438,248
Weighted-average unvested shares (in shares)	(389)		(698)		(415)	(719)
Weighted-average shares used to compute basic net income (loss) per share (in shares)	455,431		440,117		455,203	437,529
Diluted shares:
Stock options, restricted stock, and employee stock purchase plan (in shares)	18,825		0		19,897	0
Convertible senior notes (in shares)	23,351		0		19,585	0
Common stock warrants (in shares)	24,971		0		25,028	0
Weighted-average shares used to compute diluted net loss per share (in shares)	522,578		440,117		519,713	437,529
Net income (loss) per share attributable to common stockholders:
Basic (in USD per share)	$ 0.45		$ (0.03)		$ 0.53	$ (0.27)
Diluted (in USD per share)	$ 0.40		$ (0.03)		$ 0.48	$ (0.27)

NET INCOME (LOSS) PER SHARE - A

NET INCOME (LOSS) PER SHARE - Antidilutive Securities Excluded from Computation of Diluted Net Income (Loss) Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net income (loss) per share (in shares)	25,133	104,129	28,104	97,560
Stock options, restricted stock, and employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net income (loss) per share (in shares)	7,743	38,154	6,926	37,072
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net income (loss) per share (in shares)	17,390	38,516	17,333	35,565
Convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net income (loss) per share (in shares)	0	27,459	3,845	24,923

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jul. 31, 2019
Related Party Transaction [Line Items]
Operating lease right-of-use assets	$ 461,277	$ 456,888
Affiliated Entity | Operating Lease Agreement
Related Party Transaction [Line Items]
Operating lease term			15 years 6 months
Total lease payments over term			$ 42,700
Operating lease right-of-use assets	21,200
Operating lease liability	$ 33,400

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Millions	Jun. 15, 2020USD ($)
TEXAS
Income Tax Examination [Line Items]
Estimate of possible liability for additional taxes, interest and penalties	$ 38

SEGMENT AND GEOGRAPHICAL INFO_3

SEGMENT AND GEOGRAPHICAL INFORMATION - Narrative (Details)	6 Months Ended
	Jun. 30, 2021segment
Segment Reporting [Abstract]
Number of reportable segments	2

SEGMENT AND GEOGRAPHICAL INFO_4

SEGMENT AND GEOGRAPHICAL INFORMATION - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenue	$ 4,680,672	$ 1,923,625	$ 9,737,942	$ 3,304,734
Segment gross profit	1,141,064	596,763	2,104,565	1,135,264
Corporate and Other
Segment Reporting Information [Line Items]
Revenue	38,993	0	38,993	0
Segment gross profit	9,874	0	9,874	0
Cash App | Operating Segments
Segment Reporting Information [Line Items]
Revenue	3,330,191	1,200,269	7,369,807	1,727,911
Segment gross profit	546,053	281,063	1,041,538	463,795
Seller | Operating Segments
Segment Reporting Information [Line Items]
Revenue	1,311,488	723,356	2,329,142	1,576,823
Segment gross profit	585,137	315,700	1,053,153	671,469
Transaction-based revenue
Segment Reporting Information [Line Items]
Revenue	1,227,472	682,572	2,187,205	1,440,673
Transaction-based revenue | Corporate and Other
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Transaction-based revenue | Cash App | Operating Segments
Segment Reporting Information [Line Items]
Revenue	110,950	53,657	202,909	81,476
Transaction-based revenue | Seller | Operating Segments
Segment Reporting Information [Line Items]
Revenue	1,116,522	628,915	1,984,296	1,359,197
Subscription and services-based revenue
Segment Reporting Information [Line Items]
Revenue	631,402	328,763	1,156,467	584,646
Revenue	685,178	346,275	1,242,859	642,510
Subscription and services-based revenue | Corporate and Other
Segment Reporting Information [Line Items]
Revenue	38,993	0	38,993	0
Subscription and services-based revenue | Cash App | Operating Segments
Segment Reporting Information [Line Items]
Revenue	494,945	271,156	931,534	464,881
Subscription and services-based revenue | Seller | Operating Segments
Segment Reporting Information [Line Items]
Revenue	151,240	75,119	272,332	177,629
Hardware revenue
Segment Reporting Information [Line Items]
Revenue	43,726	19,322	72,514	39,997
Hardware revenue | Corporate and Other
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Hardware revenue | Cash App | Operating Segments
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Hardware revenue | Seller | Operating Segments
Segment Reporting Information [Line Items]
Revenue	43,726	19,322	72,514	39,997
Bitcoin revenue
Segment Reporting Information [Line Items]
Revenue	2,724,296	875,456	6,235,364	1,181,554
Bitcoin revenue | Corporate and Other
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Bitcoin revenue | Cash App | Operating Segments
Segment Reporting Information [Line Items]
Revenue	2,724,296	875,456	6,235,364	1,181,554
Bitcoin revenue | Seller | Operating Segments
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0	$ 0	$ 0

SEGMENT AND GEOGRAPHICAL INFO_5

SEGMENT AND GEOGRAPHICAL INFORMATION - Reconciliation of Total Segment Profit to Income before applicable Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting [Abstract]
Total segment gross profit	$ 1,141,064	$ 596,763	$ 2,104,565	$ 1,135,264
Less: Product development	326,510	207,730	636,651	403,606
Less: Sales and marketing	375,101	238,096	724,561	432,631
Less: General and administrative	221,020	136,386	416,929	265,881
Less: Transaction and loan losses	48,173	37,603	68,568	146,486
Less: Bitcoin impairment losses	45,266	0	65,126	0
Less: Interest expense, net	6,464	14,769	6,717	23,975
Less: Other (income), net	(75,788)	(25,591)	(48,260)	(19,729)
Income (loss) before income tax	$ 194,318	$ (12,230)	$ 234,273	$ (117,586)

SEGMENT AND GEOGRAPHICAL INFO_6

SEGMENT AND GEOGRAPHICAL INFORMATION - Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 4,680,672	$ 1,923,625	$ 9,737,942	$ 3,304,734
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	4,536,603	1,865,985	9,499,938	3,179,571
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 144,069	$ 57,640	$ 238,004	$ 125,163

SEGMENT AND GEOGRAPHICAL INFO_7

SEGMENT AND GEOGRAPHICAL INFORMATION - Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 1,485,756	$ 1,144,721
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	1,394,141	1,086,379
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 91,615	$ 58,342

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION - Analysis of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 4,581,234	$ 3,158,058	$ 1,972,762
Short-term restricted cash	15,088	30,279	19,761
Long-term restricted cash	74,569	13,526	13,685
Cash, cash equivalents, and restricted cash	$ 4,670,891	$ 3,201,863	$ 2,006,208	$ 1,098,706

SUPPLEMENTAL CASH FLOW INFORM_4

SUPPLEMENTAL CASH FLOW INFORMATION - Supplemental Cash Flow Data (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Supplemental Cash Flow Data:
Cash paid for interest	$ 3,945	$ 2,553
Cash paid for income taxes	8,009	3,156
Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease obligations	36,667	304,132
Purchases of property and equipment in accounts payable and accrued expenses	17,115	8,010
Unpaid business combination purchase price	50,528	7,439
Fair value of common stock issued and issuable in future related to business combination	(10,007)	(35,318)
Fair value of common stock issued to settle the conversion of senior notes	(394,560)	(77,614)
Fair value of shares received to settle senior note hedges	1,292,705	71,062
Bitcoin lent to third party borrowers	$ (6,334)	$ 0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Afterpay Limited - Subsequent Event $ / shares in Units, $ in Millions, $ in Millions	Aug. 01, 2021USD ($)shares	Aug. 01, 2021AUD ($)shares	Jul. 30, 2021$ / shares
Subsequent Event [Line Items]
Shares issued for each outstanding share	0.375	0.375
Consideration transferred | $	$ 28,200
Equity consideration (in shares) | shares	114,000,000	114,000,000
Share price (in dollars per share) | $ / shares			$ 247.26
Percentage of consideration to be paid in cash	1.00%	1.00%
Agreement termination fee	$ 283	$ 385