Block (SQ) 10-Q 4 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-37622
Entity Registrant Name	Block, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0429876
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	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		544,259,729
Class B
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		60,635,933

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 5,061,091	$ 4,544,202
Investments in short-term debt securities	1,024,110	1,081,851
Settlements receivable	1,897,835	2,416,324
Customer funds	3,800,473	3,180,324
Loans held for sale	476,754	474,036
Safeguarding asset related to bitcoin held for other parties	726,495	428,243
Other current assets	1,427,210	1,627,265
Total current assets	15,900,479	15,623,405
Goodwill	11,919,274	11,966,761
Acquired intangible assets, net	1,949,086	2,014,034
Investments in long-term debt securities	412,747	573,429
Operating lease right-of-use assets	344,229	373,172
Other non-current assets	811,512	813,539
Total assets	31,337,327	31,364,340
Current liabilities:
Customers payable	5,749,857	5,548,656
Settlements payable	397,977	462,505
Accrued expenses and other current liabilities	1,066,203	1,073,516
Current portion of long-term debt (Note 13)	460,539	460,356
Warehouse funding facilities, current	305,195	461,240
Safeguarding obligation liability related to bitcoin held for other parties	726,495	428,243
Total current liabilities	8,706,266	8,434,516
Warehouse funding facilities, non-current	384,998	877,066
Long-term debt (Note 13)	4,112,356	4,109,829
Operating lease liabilities, non-current	329,196	357,419
Other non-current liabilities	329,626	334,155
Total liabilities	13,862,442	14,112,985
Commitments and contingencies (Note 18)
Stockholders’ equity:
Preferred stock, $0.0000001 par value: 100,000 shares authorized at March 31, 2023 and December 31, 2022. None issued and outstanding at March 31, 2023 and December 31, 2022.	0	0
Additional paid-in capital	18,607,008	18,314,681
Accumulated other comprehensive loss	(572,561)	(523,090)
Accumulated deficit	(585,550)	(568,712)
Total stockholders’ equity attributable to common stockholders	17,448,897	17,222,879
Noncontrolling interests	25,988	28,476
Total stockholders’ equity	17,474,885	17,251,355
Total liabilities and stockholders’ equity	31,337,327	31,364,340
Consumer Portfolio Segment
Current assets:
Consumer receivables, net	1,486,511	1,871,160
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	Mar. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred stock, par value (in USD per share)	$ 0.00	$ 0.00
Preferred stock, authorized (in shares)	100,000,000	100,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, 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, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, issued (in shares)	542,757,000	539,408,000
Common stock, outstanding (in shares)	542,757,000	539,408,000
Class B
Class of Stock [Line Items]
Common stock, par value (in USD per share)	$ 0.00	$ 0.00
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	60,636,000	60,652,000
Common stock, outstanding (in shares)	60,636,000	60,652,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue:
Revenue	$ 4,990,131	$ 3,960,645
Cost of revenue:
Amortization of acquired technology assets	18,508	15,469
Total cost of revenue	3,275,547	2,665,685
Gross profit	1,714,584	1,294,960
Operating expenses:
Product development	626,937	458,224
Sales and marketing	496,011	501,562
General and administrative	432,825	444,149
Transaction, loan, and consumer receivable losses	127,896	91,150
Amortization of customer and other acquired intangible assets	37,087	26,664
Total operating expenses	1,720,756	1,521,749
Operating loss	(6,172)	(226,789)
Interest expense (income), net	(3,161)	15,748
Other expense (income), net	18,371	(33,472)
Loss before income tax	(21,382)	(209,065)
Benefit for income taxes	(2,056)	(1,702)
Net loss	(19,326)	(207,363)
Less: Net loss attributable to noncontrolling interests	(2,488)	(3,164)
Net loss attributable to common stockholders	$ (16,838)	$ (204,199)
Net loss per share attributable to common stockholders:
Basic (in USD per share)	$ (0.03)	$ (0.38)
Diluted (in USD per share)	$ (0.03)	$ (0.38)
Weighted-average shares used to compute net loss per share attributable to common stockholders:
Basic (in shares)	602,234	541,435
Diluted (in shares)	602,234	541,435
Transaction-based revenue
Revenue:
Revenue	$ 1,422,705	$ 1,232,969
Cost of revenue:
Cost of revenue	820,787	716,236
Subscription and services-based revenue
Revenue:
Revenue	1,366,224	959,557
Cost of revenue:
Cost of revenue	264,092	182,857
Hardware revenue
Revenue:
Revenue	37,451	37,326
Cost of revenue:
Cost of revenue	58,785	63,664
Bitcoin revenue
Revenue:
Revenue	2,163,751	1,730,793
Cost of revenue:
Cost of revenue	$ 2,113,375	$ 1,687,459

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss		$ (19,326)	$ (207,363)
Net foreign currency translation adjustments	[1]	(63,881)	264,746
Net unrealized gain (loss) on marketable debt securities		14,410	(29,954)
Total comprehensive income (loss)		$ (68,797)	$ 27,429
[1]Includes foreign currency translation adjustments related to goodwill of $47.6 million and $220.7 million for March 31, 2023 and March 31, 2022, respectively.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments related to goodwill	$ 47.6	$ 220.7

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Class A and B common stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Accumulated deficit	Noncontrolling interests
Beginning balance (in shares) at Dec. 31, 2021		464,944
Beginning balance at Dec. 31, 2021	$ 3,313,589	$ 0	$ 3,317,255	$ (16,435)	$ (27,965)	$ 40,734
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(207,363)				(204,199)	(3,164)
Shares issued in connection with employee stock plans (in shares)		2,120
Shares issued in connection with employee stock plans	4,093		4,093
Change in other comprehensive income (loss)	234,792			234,792
Share-based compensation	279,354		279,354
Tax withholding related to vesting of restricted stock units (in shares)		(16)
Tax withholding related to vesting of restricted stock units	(2,456)		(2,456)
Issuance of common stock in connection with business combination (in shares)		113,617
Issuance of common stock in connection with business combination	13,827,929		13,827,929
Issuance of common stock in conjunction with the conversion of convertible notes (in shares)		20
Issuance of common stock in conjunction with the conversion of convertible notes	454		454
Exercise of bond hedges in conjunction with the conversion of convertible notes (in shares)		(1,189)
Ending balance (in shares) at Mar. 31, 2022		579,496
Ending balance at Mar. 31, 2022	17,450,392	$ 0	17,426,629	218,357	(232,164)	37,570
Beginning balance (in shares) at Dec. 31, 2022		600,060
Beginning balance at Dec. 31, 2022	17,251,355	$ 0	18,314,681	(523,090)	(568,712)	28,476
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(19,326)				(16,838)	(2,488)
Shares issued in connection with employee stock plans (in shares)		3,333
Shares issued in connection with employee stock plans	6,825		6,825
Change in other comprehensive income (loss)	(49,471)			(49,471)
Share-based compensation	285,502		285,502
Ending balance (in shares) at Mar. 31, 2023		603,393
Ending balance at Mar. 31, 2023	$ 17,474,885	$ 0	$ 18,607,008	$ (572,561)	$ (585,550)	$ 25,988

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (19,326)	$ (207,363)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	93,173	70,056
Amortization of discounts and premiums and other non-cash adjustments	(85,314)	(64,351)
Non-cash lease expense	24,333	22,696
Share-based compensation	279,592	275,423
Loss (gain) on revaluation of equity investments	14,885	(49,741)
Transaction, loan, and consumer receivable losses	127,896	91,150
Change in deferred income taxes	1,353	(7,653)
Changes in operating assets and liabilities:
Settlements receivable	452,868	(220,361)
Purchases and originations of loans	(1,834,442)	(951,665)
Proceeds from payments and forgiveness of loans	1,753,515	1,112,266
Customers payable	(418,948)	136,474
Settlements payable	(64,528)	10,360
Other assets and liabilities	(30,656)	12,132
Net cash provided by operating activities	294,401	229,423
Cash flows from investing activities:
Purchases of marketable debt securities	(56,761)	(209,981)
Proceeds from maturities of marketable debt securities	273,771	262,559
Proceeds from sale of marketable debt securities	15,697	178,352
Proceeds from maturities of marketable debt securities from customer funds	0	73,000
Proceeds from sale of marketable debt securities from customer funds	0	316,576
Payments from originations of consumer receivables	(4,911,509)	(1,946,468)
Proceeds from principal repayments and sales of consumer receivables	5,339,800	1,943,554
Purchases of property and equipment	(32,253)	(41,187)
Purchases of other investments	(4,821)	(16,495)
Business combinations, net of cash acquired	0	570,703
Net cash provided by investing activities	623,924	1,130,613
Cash flows from financing activities:
Repayments of PPP Liquidity Facility advances	(5,077)	(372,897)
Payments to redeem convertible notes	0	(1,071,788)
Proceeds from warehouse facilities borrowings	47,975	183,440
Repayments of warehouse facilities borrowings	(692,556)	(90,491)
Proceeds from the exercise of stock options and purchases under the employee stock purchase plan	6,825	4,093
Payments for tax withholding related to vesting of restricted stock units	0	(2,456)
Net increase in interest-bearing deposits	13,601	21,633
Change in customer funds, restricted from use in the Company's operations	620,149	359,910
Net cash used in financing activities	(9,083)	(968,556)
Effect of foreign exchange rate on cash and cash equivalents	1,033	(948)
Net increase in cash, cash equivalents, restricted cash, and customer funds	910,275	390,532
Cash, cash equivalents, restricted cash, and customer funds, beginning of the period	8,435,906	6,975,090
Cash, cash equivalents, restricted cash, and customer funds, end of the period	9,346,181	7,365,622
Reconciliation of cash, cash equivalents, restricted cash, and customer funds:
Cash and cash equivalents	5,061,091	3,993,565
Short-term restricted cash	414,267	109,450
Long-term restricted cash	70,350	71,702
Customer funds cash and cash equivalents	3,800,473	3,190,905
Total	$ 9,346,181	$ 7,365,622

DESCRIPTION OF BUSINESS AND SUM

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2023
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 Block, Inc. (together with its subsidiaries, "Block" or the "Company") creates tools that empower businesses, sellers, and individuals to participate in the economy. Block is comprised of two reportable segments, Square and Cash App. Square is a cohesive commerce ecosystem that helps sellers start, run, and grow their businesses, including enabling sellers to accept card payments, provide reporting and analytics, and facilitating next-day settlement. Square’s point-of-sale software and other business services help sellers manage inventory, locations, and employees; access financial services; engage buyers; build a website or online store; and grow sales. Cash App is an ecosystem of financial products and services to help individuals manage their money by providing financial tools that allow individuals to store, send, receive, spend, save and invest their money. Cash App seeks to redefine the world’s relationship with money by making it more relatable, instantly available, and universally accessible. On January 31, 2022, the Company completed the acquisition of Afterpay Limited (“Afterpay”), a global buy now pay later ("BNPL") platform, to strengthen its position to better deliver compelling financial products and services that expand access to more consumers and drive incremental revenue for merchants of all sizes. See Note 8, Acquisitions for further details. Block was founded in 2009 and has offices globally. The Company does not designate a headquarters location as it adopted a distributed work model in 2021. 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, 2022 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, and cash flows for the interim periods. The condensed consolidated financial statements include the financial statements of Block 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 months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023, 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, 2022. 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 accrued transaction losses, contingencies, valuation of loans held for sale, valuation of goodwill and acquired intangible assets, determination of allowance for loan loss reserves for loans held for investment, determination of allowance for credit losses for consumer receivables, pre-acquisition contingencies associated with business combinations, allocation of acquired goodwill to segments, assessing the likelihood of adverse outcomes from claims and disputes, accrued royalties, income and other taxes, operating and financing lease right-of-use assets and related liabilities, and share-based compensation. The Company's estimates of valuation of loans held for sale, allowance for credit losses associated with consumer receivables, and accrued transaction losses are based on historical experience, adjusted for market data relevant to the current economic environment. The Company will continue to update its estimates as developments occur and additional information is obtained. Refer to Note 5, Fair Value Measurements for further details on amortized cost over fair value of the loans, Note 6, Consumer Receivables, net for further details on consumer receivables, and Note 10, Other Consolidated Balance Sheet Components (Current) for further details on transaction losses. Concentration of Credit Risk For the three months ended March 31, 2023 and March 31, 2022, the Company had no customer that accounted for greater than 10% of total net revenue. The Company had three third-party payment processors that represented approximately 41%, 29%, and 10% of settlements receivable as of March 31, 2023. As of December 31, 2022, there were two parties that represented approximately 54% and 31% of settlements receivable. In both periods, all other third-party payment processors were insignificant. Certain of the Company's products are reliant on third-party service providers such as partner banks, card issuers, and payment service providers. The Company's relationships with third-party service providers may result in operational concentration risks for some of these products. 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, consumer receivables, loans held for sale, and loans held for investment. To mitigate the risk of concentration associated with cash and cash equivalents, as well as restricted cash, funds are held with creditworthy institutions and, at certain times, temporarily swept into insured programs overnight to reduce single firm concentration risk. Amounts on deposit may 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 in cluded in sales and marketing expenses on the condensed consolidated statements of operations. Total advertising costs wer e $89.1 million for the three months ended March 31, 2023 compared to $156.3 million for the three months ended March 31, 2022. The Company also records services, incentives, and other costs to acquire customers that are not directly related to a revenue generating transaction as sales and marketing expenses, as the Company considers these to be marketing costs to encourage the usage of Cash App. These expenses 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. These costs are expensed as incurred. The Company recorded $243.7 million for the three months ended March 31, 2023 compared to $202.3 million for the three months ended March 31, 2022 for such expenses. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In March 2022, the Financial Accounting Standards Board ("FASB") issued ASU No. 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method ("ASU 2022-01") related to the portfolio layer method of hedge accounting. The amendments allow nonprepayable financial assets to be included in a closed portfolio hedge using the portfolio layer method. ASU 2022-01 also allows for multiple hedged layers to be designated for a single closed portfolio of financial assets or one or more beneficial interests secured by a portfolio of financial instruments. The Company adopted this guidance effective January 1, 2023, 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. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures (“ASU 2022-02”) related to troubled debt restructuring and vintage disclosures for financing receivables. The amendments eliminate recognition and measurement guidance for troubled debt restructurings for creditors and requires entities to evaluate if the modification represents a new loan or a continuation of the existing loan. ASU 2022-02 also enhances disclosure requirements for certain loan refinancing and restructurings made to borrowers experiencing financial difficulty and requires disclosure of current period write-offs by year of origination for financing receivables. The Company adopted this guidance effective January 1, 2023, 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 In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions ("ASU 2022-03") related to equity securities. The amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. An entity is prohibited from recognizing a contractual sale restriction as a separate unit of account. ASU 2022-03 also requires specific disclosures related to equity securities that are subject to contractual restrictions, including the fair value of such equity securities, the nature and remaining duration of the corresponding restrictions, and any circumstances that could cause a lapse in the restrictions. The amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the adoption to have a material impact on the Company's financial statements.

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The following table presents the Company's net revenue disaggregated by revenue source (in thousands): Three Months Ended 2023 2022 Revenue from contracts with customers: Transaction-based revenue $ 1,422,705 $ 1,232,969 Subscription and services-based revenue 1,038,613 724,745 Hardware revenue 37,451 37,326 Bitcoin revenue 2,163,751 1,730,793 Revenue from other sources: Subscription and services-based revenue (i) 327,611 234,812 Total net revenue $ 4,990,131 $ 3,960,645 (i) Subscription and services-based revenue generated from Square Loans and consumer receivables originated through the BNPL platform.

INVESTMENTS IN DEBT SECURITIES

INVESTMENTS IN DEBT SECURITIES	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 were as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 121,972 $ 31 $ (1,706) $ 120,297 Corporate bonds 364,948 — (6,690) 358,258 Commercial paper 7,461 — — 7,461 Municipal securities 6,587 — (120) 6,467 Certificates of deposit 2,500 — — 2,500 U.S. government securities 527,991 16 (6,439) 521,568 Foreign government securities 7,724 — (165) 7,559 Total $ 1,039,183 $ 47 $ (15,120) $ 1,024,110 Long-term debt securities: U.S. agency securities $ 58,494 $ — $ (2,626) $ 55,868 Corporate bonds 157,810 16 (4,324) 153,502 Municipal securities 10,410 12 (530) 9,892 U.S. government securities 201,379 20 (8,868) 192,531 Foreign government securities 1,000 — (46) 954 Total $ 429,093 $ 48 $ (16,394) $ 412,747 The Company's short-term and long-term investments as of December 31, 2022 were as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 96,545 $ 16 $ (2,120) $ 94,441 Corporate bonds 368,110 2 (7,475) 360,637 Commercial paper 31,503 — — 31,503 Municipal securities 9,884 — (191) 9,693 Certificates of deposit 6,400 — — 6,400 U.S. government securities 580,568 6 (8,937) 571,637 Foreign government securities 7,795 — (255) 7,540 Total $ 1,100,805 $ 24 $ (18,978) $ 1,081,851 Long-term debt securities: U.S. agency securities $ 74,097 $ — $ (3,782) $ 70,315 Corporate bonds 245,891 6 (9,171) 236,726 Municipal securities 10,415 3 (664) 9,754 U.S. government securities 268,902 — (13,210) 255,692 Foreign government securities 1,000 — (58) 942 Total $ 600,305 $ 9 $ (26,885) $ 573,429 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 March 31, 2023 and December 31, 2022, aggregated by investment category and the length of time that individual securities have been in a continuous loss position were as follows (in thousands): March 31, 2023 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 $ 26,381 $ (31) $ 92,659 $ (1,675) $ 119,040 $ (1,706) Corporate bonds 30,590 (118) 327,472 (6,572) 358,062 (6,690) Municipal securities — — 6,468 (120) 6,468 (120) U.S. government securities 152,623 (482) 321,220 (5,957) 473,843 (6,439) Foreign government securities — — 7,559 (165) 7,559 (165) Total $ 209,594 $ (631) $ 755,378 $ (14,489) $ 964,972 $ (15,120) Long-term debt securities: U.S. agency securities $ 8,966 $ (35) $ 46,903 $ (2,591) $ 55,869 $ (2,626) Corporate bonds 21,761 (158) 129,136 (4,166) 150,897 (4,324) Municipal securities 471 (29) 8,909 (501) 9,380 (530) U.S. government securities 4,879 (10) 170,033 (8,858) 174,912 (8,868) Foreign government securities — — 954 (46) 954 (46) Total $ 36,077 $ (232) $ 355,935 $ (16,162) $ 392,012 $ (16,394) December 31, 2022 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 $ 8,572 $ (24) $ 84,628 $ (2,096) $ 93,200 $ (2,120) Corporate bonds 34,795 (423) 320,748 (7,052) 355,543 (7,475) Municipal securities 587 (13) 5,811 (178) 6,398 (191) U.S. government securities 146,974 (839) 394,880 (8,098) 541,854 (8,937) Foreign government securities — — 7,540 (255) 7,540 (255) Total $ 190,928 $ (1,299) $ 813,607 $ (17,679) $ 1,004,535 $ (18,978) Long-term debt securities: U.S. agency securities $ 11,501 $ (20) $ 58,814 $ (3,762) $ 70,315 $ (3,782) Corporate bonds 33,862 (262) 201,791 (8,909) 235,653 (9,171) Municipal securities 467 (33) 8,784 (631) 9,251 (664) U.S. government securities 54,405 (590) 201,288 (12,620) 255,693 (13,210) Foreign government securities — — 942 (58) 942 (58) Total $ 100,235 $ (905) $ 471,619 $ (25,980) $ 571,854 $ (26,885) The Company does not intend to sell nor anticipate that it will be required to sell these securities before recovery of the amortized cost basis. Unrealized losses on available-for-sale debt securities were determined not to be related to credit related losses, therefore, an allowance for credit losses is not required. The contractual maturities of the Company's short-term and long-term investments as of March 31, 2023 were as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 1,039,183 $ 1,024,110 Due in one to five years 429,093 412,747 Total $ 1,468,276 $ 1,436,857 The following table presents the assets underlying customer funds (in thousands): March 31, 2023 December 31, 2022 Cash $ 2,403,642 $ 1,748,983 Cash equivalents: Money market funds 737,522 851,296 Reverse repurchase agreement (i) 659,309 580,045 Total customer funds $ 3,800,473 $ 3,180,324 (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 classified the amounts due from the counterparty as cash equivalents due to the short-term nature.

CUSTOMER FUNDS

CUSTOMER FUNDS	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
CUSTOMER FUNDS	INVESTMENTS IN DEBT SECURITIES The Company's short-term and long-term investments as of March 31, 2023 were as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 121,972 $ 31 $ (1,706) $ 120,297 Corporate bonds 364,948 — (6,690) 358,258 Commercial paper 7,461 — — 7,461 Municipal securities 6,587 — (120) 6,467 Certificates of deposit 2,500 — — 2,500 U.S. government securities 527,991 16 (6,439) 521,568 Foreign government securities 7,724 — (165) 7,559 Total $ 1,039,183 $ 47 $ (15,120) $ 1,024,110 Long-term debt securities: U.S. agency securities $ 58,494 $ — $ (2,626) $ 55,868 Corporate bonds 157,810 16 (4,324) 153,502 Municipal securities 10,410 12 (530) 9,892 U.S. government securities 201,379 20 (8,868) 192,531 Foreign government securities 1,000 — (46) 954 Total $ 429,093 $ 48 $ (16,394) $ 412,747 The Company's short-term and long-term investments as of December 31, 2022 were as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 96,545 $ 16 $ (2,120) $ 94,441 Corporate bonds 368,110 2 (7,475) 360,637 Commercial paper 31,503 — — 31,503 Municipal securities 9,884 — (191) 9,693 Certificates of deposit 6,400 — — 6,400 U.S. government securities 580,568 6 (8,937) 571,637 Foreign government securities 7,795 — (255) 7,540 Total $ 1,100,805 $ 24 $ (18,978) $ 1,081,851 Long-term debt securities: U.S. agency securities $ 74,097 $ — $ (3,782) $ 70,315 Corporate bonds 245,891 6 (9,171) 236,726 Municipal securities 10,415 3 (664) 9,754 U.S. government securities 268,902 — (13,210) 255,692 Foreign government securities 1,000 — (58) 942 Total $ 600,305 $ 9 $ (26,885) $ 573,429 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 March 31, 2023 and December 31, 2022, aggregated by investment category and the length of time that individual securities have been in a continuous loss position were as follows (in thousands): March 31, 2023 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 $ 26,381 $ (31) $ 92,659 $ (1,675) $ 119,040 $ (1,706) Corporate bonds 30,590 (118) 327,472 (6,572) 358,062 (6,690) Municipal securities — — 6,468 (120) 6,468 (120) U.S. government securities 152,623 (482) 321,220 (5,957) 473,843 (6,439) Foreign government securities — — 7,559 (165) 7,559 (165) Total $ 209,594 $ (631) $ 755,378 $ (14,489) $ 964,972 $ (15,120) Long-term debt securities: U.S. agency securities $ 8,966 $ (35) $ 46,903 $ (2,591) $ 55,869 $ (2,626) Corporate bonds 21,761 (158) 129,136 (4,166) 150,897 (4,324) Municipal securities 471 (29) 8,909 (501) 9,380 (530) U.S. government securities 4,879 (10) 170,033 (8,858) 174,912 (8,868) Foreign government securities — — 954 (46) 954 (46) Total $ 36,077 $ (232) $ 355,935 $ (16,162) $ 392,012 $ (16,394) December 31, 2022 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 $ 8,572 $ (24) $ 84,628 $ (2,096) $ 93,200 $ (2,120) Corporate bonds 34,795 (423) 320,748 (7,052) 355,543 (7,475) Municipal securities 587 (13) 5,811 (178) 6,398 (191) U.S. government securities 146,974 (839) 394,880 (8,098) 541,854 (8,937) Foreign government securities — — 7,540 (255) 7,540 (255) Total $ 190,928 $ (1,299) $ 813,607 $ (17,679) $ 1,004,535 $ (18,978) Long-term debt securities: U.S. agency securities $ 11,501 $ (20) $ 58,814 $ (3,762) $ 70,315 $ (3,782) Corporate bonds 33,862 (262) 201,791 (8,909) 235,653 (9,171) Municipal securities 467 (33) 8,784 (631) 9,251 (664) U.S. government securities 54,405 (590) 201,288 (12,620) 255,693 (13,210) Foreign government securities — — 942 (58) 942 (58) Total $ 100,235 $ (905) $ 471,619 $ (25,980) $ 571,854 $ (26,885) The Company does not intend to sell nor anticipate that it will be required to sell these securities before recovery of the amortized cost basis. Unrealized losses on available-for-sale debt securities were determined not to be related to credit related losses, therefore, an allowance for credit losses is not required. The contractual maturities of the Company's short-term and long-term investments as of March 31, 2023 were as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 1,039,183 $ 1,024,110 Due in one to five years 429,093 412,747 Total $ 1,468,276 $ 1,436,857 The following table presents the assets underlying customer funds (in thousands): March 31, 2023 December 31, 2022 Cash $ 2,403,642 $ 1,748,983 Cash equivalents: Money market funds 737,522 851,296 Reverse repurchase agreement (i) 659,309 580,045 Total customer funds $ 3,800,473 $ 3,180,324 (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 classified the amounts due from the counterparty as cash equivalents due to the short-term nature.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTSThe 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 measures its safeguarding obligation liability related to bitcoin held for other parties at the fair value of the bitcoin that the Company holds for other parties and classifies the liability within Level 2 because the Company uses observable market prices of the underlying bitcoin as an input for the valuation. The Company also classifies its safeguarding asset related to bitcoin held for other parties within Level 2, unless the asset's carrying amount is adjusted to reflect any actual or potential safeguarding loss events, in which case it would be classified within Level 3. The Company was not aware of any actual or possible safeguarding loss events as of March 31, 2023 or December 31, 2022. The Company’s assets and liabilities that are measured at fair value on a recurring basis were classified as follows (in thousands): March 31, 2023 December 31, 2022 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 962,662 $ — $ — $ 1,230,924 $ — $ — U.S. agency securities — — — — 7,923 — Commercial paper — — — — 25,080 — Restricted cash: Money market funds 118,780 — — — — — Customer funds: Money market funds 737,522 — — 851,296 — — Reverse repurchase agreement 659,309 — — 580,045 — — Short-term debt securities: U.S. government securities 521,568 — — 571,637 — — Corporate bonds — 358,258 — — 360,637 — U.S. agency securities — 120,297 — — 94,441 — Certificates of deposit — 2,500 — — 6,400 — Commercial paper — 7,461 — — 31,503 — Municipal securities — 6,467 — — 9,693 — Foreign government securities — 7,559 — — 7,540 — Long-term debt securities: U.S. government securities 192,531 — — 255,692 — — Corporate bonds — 153,502 — — 236,726 — U.S. agency securities — 55,868 — — 70,315 — Municipal securities — 9,892 — — 9,754 — Foreign government securities — 954 — — 942 — Other: Investment in marketable equity security 11,012 — — 11,092 — — Safeguarding asset related to bitcoin held for other parties — 726,495 — — 428,243 — Safeguarding obligation liability related to bitcoin held for other parties — (726,495) — — (428,243) — Total assets (liabilities) measured at fair value $ 3,203,384 $ 722,758 $ — $ 3,500,686 $ 860,954 $ — The carrying amounts of certain financial instruments, including settlements receivable, consumer receivables, loans held for investment, accounts payable, customers payable, accrued expenses, and settlements payable, approximate their fair values due to their short-term nature. The carrying amounts of the Company's warehouse funding facilities approximate their fair values. The Company estimates the fair value of its convertible and 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 and senior notes were as follows (in thousands): March 31, 2023 December 31, 2022 Carrying Value Fair Value (Level 2) Carrying Value Fair Value (Level 2) 2031 Senior Notes $ 988,513 $ 814,189 $ 988,171 $ 782,857 2026 Senior Notes 991,101 902,239 990,414 885,876 2027 Convertible Notes 568,863 437,763 568,535 433,082 2026 Convertible Notes 569,734 469,689 569,315 464,066 2025 Convertible Notes 994,145 958,713 993,394 943,188 2023 Convertible Notes 460,539 472,522 460,356 480,925 Total $ 4,572,895 $ 4,055,115 $ 4,570,185 $ 3,989,994 The estimated fair value and carrying value of loans held for sale and loans held for investment were as follows (in thousands): March 31, 2023 December 31, 2022 Carrying Value Fair Value (Level 3) Carrying Value Fair Value (Level 3) Loans held for sale $ 476,754 $ 492,735 $ 474,036 $ 491,807 Loans held for investment 178,300 182,344 123,959 126,122 Total $ 655,054 $ 675,079 $ 597,995 $ 617,929 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 months ended March 31, 2023 and March 31, 2022, the Company did not have any transfers in or out of Level 1, Level 2, or Level 3 assets or liabilities.

CONSUMER RECEIVABLES, NET

CONSUMER RECEIVABLES, NET	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
CONSUMER RECEIVABLES, NET	CONSUMER RECEIVABLES, NET Consumer receivables represent amounts due from consumers for outstanding installment payments on orders processed on the Company's BNPL platform. Consumer receivables are classified as held for investment. These receivables are typically interest free and are generally due within 14 to 56 days. The Company closely monitors credit quality for consumer receivables to manage and evaluate its related exposure to credit risk. The criteria the Company monitors when assessing the credit quality and risk of its consumer receivables portfolio is primarily based on internal risk assessments, as they provide insight into customer risk profiles and are useful as indicators of potential future credit losses. Consumer receivables are internally rated as "Pass" rated or "Classified." Pass rated consumer receivables generally consist of consumer receivables that are current or up to 60 days past due. Classified consumer receivables generally comprise of consumer receivables that are 60 days or greater past due and have a higher risk of default. Internal risk ratings are reviewed and, generally, updated at least once a year. As of March 31, 2023, the amortized cost of Pass rated consumer receivables was $1.5 billion and the amount of Classified consumer receivables was less than $0.1 billion. The following table presents an aging analysis of the amortized cost of consumer receivables by delinquency status (in thousands): March 31, 2023 December 31, 2022 Non-delinquent loans $ 1,330,642 $ 1,643,874 1 - 60 days past due 191,609 295,830 61 - 90 days past due 40,249 20,612 90+ days past due 65,545 62,134 Total amortized cost $ 1,628,045 $ 2,022,450 The amount listed as 1 - 60 days past due in the above table includes $137.3 million and $224.9 million of cash in transit as of March 31, 2023 and December 31, 2022, respectively, which reflects ongoing repayments from consumers that have been sent from consumers’ bank accounts but have not yet been received at the Company’s bank account as of the date of the financial statements. This cash in transit as of March 31, 2023 and December 31, 2022 represents 8.4% and 11.1%, respectively, of the total amortized cost of consumer receivables. For consumer receivables, an allowance for credit losses is determined based on the probability of a default event occurring over the life of the receivables. When a consumer has not paid by the due date, it is an indication that credit risk has increased. As a result, the allowance for credit losses for that receivable is measured at an amount equal to the lifetime allowance for credit losses for increased credit risk. Lifetime allowance for credit losses is the expected credit losses that result from all possible default events over the expected life of the receivables. The allowance for credit losses on consumer receivables is a valuation account that is deducted from the carrying value of the consumer receivables. Consumer receivables are charged off when they are over 180 days past due and the Company has no reasonable expectation of recovery. When consumer receivables are charged off, the Company recognizes the charge against the allowance for credit losses. While the Company expects collections at that point to be unlikely, the Company may recover amounts from the respective consumers. Any subsequent recoveries following charge-off are credited to transaction, loan, and consumer receivable losses on the condensed consolidated statements of operations in the period they were recovered. The amount of recoveries for the three months ended March 31, 2023 and March 31, 2022 were immaterial. The following table summarizes activity in the allowance for credit losses subsequent to the acquisition of Afterpay (in thousands): Three Months Ended March 31, 2023 From Acquisition on Allowance for credit losses, beginning of the period (i) $ 151,290 $ 115,552 Provision for credit losses 43,131 36,505 Charge-offs and other adjustments (52,401) (53,780) Foreign exchange effect (486) 11,547 Allowance for credit losses, end of the period $ 141,534 $ 109,824 (i) Consumer receivables acquired from Afterpay that reflected a more-than-insignificant deterioration of credit from origination were considered purchased credit deteriorated ("PCD") receivables. For PCD consumer receivables, the initial estimate of expected credit losses is recognized in the allowance for credit losses on the date of acquisition using the same methodology as other consumer receivables. 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, until maturity, or until 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 March 31, 2023 and December 31, 2022, the Company held $178.3 million and $124.0 million, respectively, as loans held for investment, net of allowance, included in other current assets on the condensed consolidated balance sheet. Refer to Note 10, Other Consolidated Balance Sheet Components (Current) for more details. 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 allowance for loan losses and amount of charge offs recorded as of March 31, 2023 and December 31, 2022 were all 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. Loans that are 120 days or more past due are generally considered to be uncollectible and are written off. 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 March 31, 2023, the amount of loans that were identified as nonperforming loans was immaterial. The Company closely monitors economic conditions and loan performance trends to assess and manage its exposure to credit risk. The criteria the Company monitors when assessing the credit quality and risk of its loan portfolio is primarily based on internal risk ratings, as they provide insight into borrower risk profiles and are useful as indicators of potential future credit losses. Loans are internally rated as "Pass" rated or "Classified". Pass rated loans generally consist of loans that are current or up to 60 days past due. Classified loans generally comprise of loans that are 60 days or greater past due and have a higher risk of default. Internal risk ratings are reviewed and, generally, updated at least once a year. As of March 31, 2023, the amortized cost of Pass rated loans was $183.1 million and the amount of Classified loans was immaterial.

LOANS HELD FOR INVESTMENT

LOANS HELD FOR INVESTMENT	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
LOANS HELD FOR INVESTMENT	CONSUMER RECEIVABLES, NET Consumer receivables represent amounts due from consumers for outstanding installment payments on orders processed on the Company's BNPL platform. Consumer receivables are classified as held for investment. These receivables are typically interest free and are generally due within 14 to 56 days. The Company closely monitors credit quality for consumer receivables to manage and evaluate its related exposure to credit risk. The criteria the Company monitors when assessing the credit quality and risk of its consumer receivables portfolio is primarily based on internal risk assessments, as they provide insight into customer risk profiles and are useful as indicators of potential future credit losses. Consumer receivables are internally rated as "Pass" rated or "Classified." Pass rated consumer receivables generally consist of consumer receivables that are current or up to 60 days past due. Classified consumer receivables generally comprise of consumer receivables that are 60 days or greater past due and have a higher risk of default. Internal risk ratings are reviewed and, generally, updated at least once a year. As of March 31, 2023, the amortized cost of Pass rated consumer receivables was $1.5 billion and the amount of Classified consumer receivables was less than $0.1 billion. The following table presents an aging analysis of the amortized cost of consumer receivables by delinquency status (in thousands): March 31, 2023 December 31, 2022 Non-delinquent loans $ 1,330,642 $ 1,643,874 1 - 60 days past due 191,609 295,830 61 - 90 days past due 40,249 20,612 90+ days past due 65,545 62,134 Total amortized cost $ 1,628,045 $ 2,022,450 The amount listed as 1 - 60 days past due in the above table includes $137.3 million and $224.9 million of cash in transit as of March 31, 2023 and December 31, 2022, respectively, which reflects ongoing repayments from consumers that have been sent from consumers’ bank accounts but have not yet been received at the Company’s bank account as of the date of the financial statements. This cash in transit as of March 31, 2023 and December 31, 2022 represents 8.4% and 11.1%, respectively, of the total amortized cost of consumer receivables. For consumer receivables, an allowance for credit losses is determined based on the probability of a default event occurring over the life of the receivables. When a consumer has not paid by the due date, it is an indication that credit risk has increased. As a result, the allowance for credit losses for that receivable is measured at an amount equal to the lifetime allowance for credit losses for increased credit risk. Lifetime allowance for credit losses is the expected credit losses that result from all possible default events over the expected life of the receivables. The allowance for credit losses on consumer receivables is a valuation account that is deducted from the carrying value of the consumer receivables. Consumer receivables are charged off when they are over 180 days past due and the Company has no reasonable expectation of recovery. When consumer receivables are charged off, the Company recognizes the charge against the allowance for credit losses. While the Company expects collections at that point to be unlikely, the Company may recover amounts from the respective consumers. Any subsequent recoveries following charge-off are credited to transaction, loan, and consumer receivable losses on the condensed consolidated statements of operations in the period they were recovered. The amount of recoveries for the three months ended March 31, 2023 and March 31, 2022 were immaterial. The following table summarizes activity in the allowance for credit losses subsequent to the acquisition of Afterpay (in thousands): Three Months Ended March 31, 2023 From Acquisition on Allowance for credit losses, beginning of the period (i) $ 151,290 $ 115,552 Provision for credit losses 43,131 36,505 Charge-offs and other adjustments (52,401) (53,780) Foreign exchange effect (486) 11,547 Allowance for credit losses, end of the period $ 141,534 $ 109,824 (i) Consumer receivables acquired from Afterpay that reflected a more-than-insignificant deterioration of credit from origination were considered purchased credit deteriorated ("PCD") receivables. For PCD consumer receivables, the initial estimate of expected credit losses is recognized in the allowance for credit losses on the date of acquisition using the same methodology as other consumer receivables. 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, until maturity, or until 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 March 31, 2023 and December 31, 2022, the Company held $178.3 million and $124.0 million, respectively, as loans held for investment, net of allowance, included in other current assets on the condensed consolidated balance sheet. Refer to Note 10, Other Consolidated Balance Sheet Components (Current) for more details. 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 allowance for loan losses and amount of charge offs recorded as of March 31, 2023 and December 31, 2022 were all 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. Loans that are 120 days or more past due are generally considered to be uncollectible and are written off. 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 March 31, 2023, the amount of loans that were identified as nonperforming loans was immaterial. The Company closely monitors economic conditions and loan performance trends to assess and manage its exposure to credit risk. The criteria the Company monitors when assessing the credit quality and risk of its loan portfolio is primarily based on internal risk ratings, as they provide insight into borrower risk profiles and are useful as indicators of potential future credit losses. Loans are internally rated as "Pass" rated or "Classified". Pass rated loans generally consist of loans that are current or up to 60 days past due. Classified loans generally comprise of loans that are 60 days or greater past due and have a higher risk of default. Internal risk ratings are reviewed and, generally, updated at least once a year. As of March 31, 2023, the amortized cost of Pass rated loans was $183.1 million and the amount of Classified loans was immaterial.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS Afterpay On January 31, 2022 (February 1, 2022 Australian Eastern Daylight Time), the Company completed the acquisition of Afterpay, a global BNPL platform. In connection with the acquisition, the Company issued 113,617,352 shares of the Company’s Class A common stock. The shares issued included a deemed vested component of outstanding employee awards, based on the ratio of time served in relation to the vesting term of each award, with the unvested portion being replaced with Block’s unvested replacement awards, with the same terms. The aggregate fair value of the shares issued was $13.8 billion based on the closing price of the Company’s Class A common stock on the acquisition date, of which $66.3 million was attributed to acceleration of various share-based arrangements and was accounted for as an expense immediately post-acquisition, included as a component of general and administrative expenses in the condensed consolidated statement of operations. As of the completion of the acquisition, certain convertible notes with an outstanding principal amount of AU $1.5 billion (U.S. $1.1 billion based on the closing exchange rate on the acquisition date) remained outstanding, and were redeemed on March 4, 2022. As of December 31, 2022, the Company's purchase price allocation was complete and the measurement period was closed. The table below summarizes the consideration paid for Afterpay and the assessment of the fair value of the assets acquired and liabilities assumed at the closing date (in thousands, except share data): Consideration: Stock (113,617,352 shares of Class A common stock, excluding value accounted as post-combination expense of $66,337) $ 13,827,929 Cash paid to settle tax withholding in connection with replacement awards 8,693 Total $ 13,836,622 Recognized amounts of identifiable assets acquired and liabilities assumed: Current assets (inclusive of cash, cash equivalents, and restricted cash acquired) $ 653,709 Consumer receivables 1,245,508 Intangible customer assets 1,378,000 Intangible technology assets 239,000 Intangible trade name 386,000 Other non-current assets 74,232 Long-term debt - current (i) (1,058,065) Current liabilities (439,358) Warehouse funding facilities (ii) (107,996) Deferred tax liabilities (190,689) Other non-current liabilities (63,213) Total identifiable net assets acquired 2,117,128 Goodwill 11,719,494 Total $ 13,836,622 (i) Long-term debt - current is comprised of the aforementioned Afterpay convertible notes, which were redeemed in cash at face value on March 4, 2022. (ii) Refer to Note 13, Indebtedness for further details.

ACQUIRED INTANGIBLE ASSETS

ACQUIRED INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
ACQUIRED INTANGIBLE ASSETS	ACQUIRED INTANGIBLE ASSETS The following tables present the detail of acquired intangible assets as of the periods presented (in thousands): Balance at March 31, 2023 Weighted Average Estimated Useful Life Cost Accumulated Amortization Net Technology assets 5 years $ 396,916 $ (151,189) $ 245,727 Customer assets 15 years 1,467,212 (134,798) 1,332,414 Trade names 9 years 432,814 (69,725) 363,089 Other 9 years 13,701 (5,845) 7,856 Total $ 2,310,643 $ (361,557) $ 1,949,086 Balance at December 31, 2022 Weighted Average Estimated Useful Life Cost Accumulated Amortization Net Technology assets 5 years $ 398,665 $ (133,116) $ 265,549 Customer assets 15 years 1,474,163 (110,316) 1,363,847 Trade names 9 years 434,766 (58,352) 376,414 Other 9 years 13,701 (5,477) 8,224 Total $ 2,321,295 $ (307,261) $ 2,014,034 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 2023 2022 Acquired intangible assets, net, beginning of the period $ 2,014,034 $ 257,049 Acquisitions — 2,025,000 Amortization expense (55,595) (42,160) Foreign currency translation adjustments (9,353) 35,310 Acquired intangible assets, net, end of the period $ 1,949,086 $ 2,275,199 The estimated future amortization expense of intangible assets in future periods as of March 31, 2023 was as follows (in thousands): Remainder of 2023 $ 165,612 2024 217,392 2025 210,565 2026 196,498 2027 148,734 Thereafter 1,010,285 Total $ 1,949,086

OTHER CONSOLIDATED BALANCE SHEE

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)	3 Months Ended
	Mar. 31, 2023
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): March 31, 2023 December 31, 2022 Inventory, net $ 101,655 $ 97,703 Restricted cash (i) 414,267 639,780 Processing costs receivable 305,935 298,568 Prepaid expenses 135,706 141,262 Accounts receivable, net 133,502 140,508 Loans held for investment, net of allowance for loan losses (ii) 178,300 123,959 Other 157,845 185,485 Total $ 1,427,210 $ 1,627,265 (i) Includes a portion invested in money market funds. Refer to Note 5, Fair Value Measurements for further details . (ii) Refer to Note 7, 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): March 31, 2023 December 31, 2022 Accrued expenses $ 379,252 $ 382,571 Accounts payable 100,093 95,846 Customer deposits 155,494 141,893 Accrued transaction losses (i) 62,085 64,539 Accrued royalties 58,538 63,684 Operating lease liabilities, current 62,673 66,854 Other 248,068 258,129 Total $ 1,066,203 $ 1,073,516 (i) The Company is exposed to potential credit losses related to transactions processed by sellers that are subsequently subject to chargebacks when the Company is unable to collect from the sellers primarily due to insolvency. Generally, the Company estimates the potential loss rates based on historical experience that is continuously adjusted for new information and incorporates, where applicable, reasonable and supportable forecasts about future expectations. The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands): Three Months Ended 2023 2022 Accrued transaction losses, beginning of the period $ 64,539 $ 55,167 Provision for transaction losses 24,942 20,721 Charge-offs to accrued transaction losses (27,396) (22,229) Accrued transaction losses, end of the period $ 62,085 $ 53,659 Other Non-Current Assets The following table presents the detail of other non-current assets (in thousands): March 31, 2023 December 31, 2022 Property and equipment, net $ 332,144 $ 329,302 Investment in non-marketable equity securities (i) 205,225 208,880 Investment in bitcoin, net (ii) 102,479 102,303 Restricted cash 70,350 71,600 Other 101,314 101,454 Total $ 811,512 $ 813,539 (i) Investment in non-marketable equity securities represents the Company's investments in equity of non-public entities. These investments are measured using the measurement alternative and are therefore carried at cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments are recorded within other expense (income), net on the condensed consolidated statements of operations. Unrealized gains and losses were immaterial as of March 31, 2023. (ii) As of March 31, 2023, the Company has purchased a cumulative $220.0 million in bitcoin for investment purposes. Investment in bitcoin is accounted for as an indefinite-lived intangible asset, and does not include any bitcoin held for other parties, which is further described in Note 12, Bitcoin Held for Other Parties . Investment in bitcoin 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. The Company recorded no impairment losses i n the three months ended March 31, 2023. As of March 31, 2023, the cumulative impairment charges to date were $117.7 million and the fair value of the investment in bitcoin was $228.7 million based on observable market prices, which was $126.2 million in excess of the Company's carrying value of $102.5 million after impairment charges.

OTHER CONSOLIDATED BALANCE SH_2

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)	3 Months Ended
	Mar. 31, 2023
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): March 31, 2023 December 31, 2022 Inventory, net $ 101,655 $ 97,703 Restricted cash (i) 414,267 639,780 Processing costs receivable 305,935 298,568 Prepaid expenses 135,706 141,262 Accounts receivable, net 133,502 140,508 Loans held for investment, net of allowance for loan losses (ii) 178,300 123,959 Other 157,845 185,485 Total $ 1,427,210 $ 1,627,265 (i) Includes a portion invested in money market funds. Refer to Note 5, Fair Value Measurements for further details . (ii) Refer to Note 7, 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): March 31, 2023 December 31, 2022 Accrued expenses $ 379,252 $ 382,571 Accounts payable 100,093 95,846 Customer deposits 155,494 141,893 Accrued transaction losses (i) 62,085 64,539 Accrued royalties 58,538 63,684 Operating lease liabilities, current 62,673 66,854 Other 248,068 258,129 Total $ 1,066,203 $ 1,073,516 (i) The Company is exposed to potential credit losses related to transactions processed by sellers that are subsequently subject to chargebacks when the Company is unable to collect from the sellers primarily due to insolvency. Generally, the Company estimates the potential loss rates based on historical experience that is continuously adjusted for new information and incorporates, where applicable, reasonable and supportable forecasts about future expectations. The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands): Three Months Ended 2023 2022 Accrued transaction losses, beginning of the period $ 64,539 $ 55,167 Provision for transaction losses 24,942 20,721 Charge-offs to accrued transaction losses (27,396) (22,229) Accrued transaction losses, end of the period $ 62,085 $ 53,659 Other Non-Current Assets The following table presents the detail of other non-current assets (in thousands): March 31, 2023 December 31, 2022 Property and equipment, net $ 332,144 $ 329,302 Investment in non-marketable equity securities (i) 205,225 208,880 Investment in bitcoin, net (ii) 102,479 102,303 Restricted cash 70,350 71,600 Other 101,314 101,454 Total $ 811,512 $ 813,539 (i) Investment in non-marketable equity securities represents the Company's investments in equity of non-public entities. These investments are measured using the measurement alternative and are therefore carried at cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments are recorded within other expense (income), net on the condensed consolidated statements of operations. Unrealized gains and losses were immaterial as of March 31, 2023. (ii) As of March 31, 2023, the Company has purchased a cumulative $220.0 million in bitcoin for investment purposes. Investment in bitcoin is accounted for as an indefinite-lived intangible asset, and does not include any bitcoin held for other parties, which is further described in Note 12, Bitcoin Held for Other Parties . Investment in bitcoin 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. The Company recorded no impairment losses i n the three months ended March 31, 2023. As of March 31, 2023, the cumulative impairment charges to date were $117.7 million and the fair value of the investment in bitcoin was $228.7 million based on observable market prices, which was $126.2 million in excess of the Company's carrying value of $102.5 million after impairment charges.

BITCOIN HELD FOR OTHER PARTIES

BITCOIN HELD FOR OTHER PARTIES	3 Months Ended
	Mar. 31, 2023
Other Liabilities Disclosure [Abstract]
BITCOIN HELD FOR OTHER PARTIES	BITCOIN HELD FOR OTHER PARTIESThe Company allows its Cash App customers to store their bitcoin in the Company’s digital wallets free of charge. The Company also holds an immaterial amount of bitcoin from select trading partners to facilitate bitcoin transactions for customers on Cash App. Other than bitcoin, the Company does not hold or store any other types of crypto-assets for customers or trading partners. The Company holds the cryptographic key information and maintains the internal recordkeeping of the bitcoin held for other parties. The Company's contractual arrangements state that its customers and trading partners retain legal ownership of the bitcoin; have the right to sell, pledge, or transfer the bitcoin; and also benefit from the rewards and bear the risks associated with the ownership, including as a result of any bitcoin price fluctuations. The customer also bears the risk of loss as a result of fraud or theft, unless the loss was caused by the Company’s gross negligence or the Company’s willful misconduct. The Company does not use any of the bitcoin custodied for customers or trading partners as collateral for any of the Company’s loans or other financing arrangements; nor does it lend or pledge bitcoin held for others to any third parties. The Company occasionally engages third-party custodians to store and safeguard bitcoin on the Company's behalf. As of March 31, 2023, an immaterial amount of the bitcoin was held by third-party custodians on the Company's behalf. The Company records a bitcoin safeguarding obligation liability and a corresponding bitcoin safeguarding asset based on the fair value of the bitcoin held for other parties at each reporting date. The Company was not aware of any actual or possible safeguarding loss events as of March 31, 2023 or December 31, 2022, and accordingly, the bitcoin safeguarding obligation liability and the associated bitcoin safeguarding asset were recorded at the same value. The balance sheet as of December 31, 2022 has been revised to reflect the adoption of Staff Accounting Bulletin No. 121 ( "SAB 121"). The adoption had no impact on previously reported consolidated statements of operations, statements of cash flows, or statements of stockholders' equity. The following table summarizes the Company’s bitcoin held for other parties (in thousands, except number of bitcoin): March 31, 2023 December 31, 2022 Approximate number of bitcoin held for customers 25,507 25,850 Approximate number of bitcoin held for trading partners 3 62 Total approximate number of bitcoin held for other parties 25,510 25,912 Safeguarding obligation liability related to bitcoin held for customers $ 726,397 $ 427,221 Safeguarding obligation liability related to bitcoin held for trading partners 98 1,022 Safeguarding obligation liability related to bitcoin held for other parties $ 726,495 $ 428,243 Safeguarding asset related to bitcoin held for other parties $ 726,495 $ 428,243

INDEBTEDNESS

INDEBTEDNESS	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
INDEBTEDNESS	INDEBTEDNESS A) Notes The 2023 Convertible Notes, 2025 Convertible Notes, 2026 Convertible Notes, and 2027 Convertible Notes (each, as defined below, and collectively, the “Convertible Notes”), together with the Senior Notes (as defined below), are collectively referred to as the “Notes.” The net carrying amount of the Notes as of March 31, 2023 were as follows (in thousands): Principal Outstanding Unamortized Debt Issuance Costs Net Carrying Value 2031 Senior Notes $ 1,000,000 $ (11,487) $ 988,513 2026 Senior Notes 1,000,000 (8,899) 991,101 2027 Convertible Notes 575,000 (6,137) 568,863 2026 Convertible Notes 575,000 (5,266) 569,734 2025 Convertible Notes 1,000,000 (5,856) 994,145 2023 Convertible Notes (i) 460,630 (91) 460,539 Total $ 4,610,630 $ (37,736) $ 4,572,895 (i) Net carrying value disclosed as current portion of long-term debt within total current liabilities on the condensed consolidated balance sheet. The net carrying amount of the Notes as of December 31, 2022 were as follows (in thousands): Principal Outstanding Unamortized Debt Issuance Costs Net Carrying Value 2031 Senior Notes $ 1,000,000 $ (11,829) $ 988,171 2026 Senior Notes 1,000,000 (9,586) 990,414 2027 Convertible Notes 575,000 (6,465) 568,535 2026 Convertible Notes 575,000 (5,685) 569,315 2025 Convertible Notes 1,000,000 (6,606) 993,394 2023 Convertible Notes (i) 460,630 (274) 460,356 Total $ 4,610,630 $ (40,445) $ 4,570,185 (i) Net carrying value disclosed as current portion of long-term debt within total current liabilities on the condensed consolidated balance sheet. The Company recognized interest expense on the Notes as follows (in thousands): Three Months Ended 2023 2022 Contractual interest expense $ 16,495 $ 16,466 Amortization of debt issuance costs (i) 2,710 2,703 Total $ 19,205 $ 19,169 (i) Upon adoption of ASU 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. 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 bear 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. As of March 31, 2023, no principal had converted and the if-converted value did not exceed the outstanding principal amount on either the 2026 Convertible Notes or 2027 Convertible Notes. Convertible 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 0.125% payable semi-annually on March 1 and September 1 of each year. The circumstances wer e not met during the three months ended March 31, 2023. As of March 31, 2023, certain holders of the 2025 Convertible Notes had converted an immaterial aggregate principal amount of their 2025 Convertible Notes. The Company has settled the conversions through the issuance of an immaterial amount of shares of the Company's Class A common stock. As of March 31, 2023, the if-converted value of the 2025 Convertible Notes did not exceed the outstanding principal amount. Convertible 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 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 the first half of 2022. The ci rcumstances were met during the three months ended March 31, 2023 and 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 circumstances. As of March 31, 2023, certain holders of the 2023 Convertible Notes had converted an aggregate principal amount of $401.9 million of their 2023 Convertible Notes, leaving approximately $460.6 million aggregate principal amount outstanding that could be converted prior to or repaid on the maturity date of May 15, 2023. The Company has settled the conversions through the issuance of 5.2 million shares of the Company's Class A common stock. As of March 31, 2023, the if-converted value of the 2023 Convertible Notes did not exceed the outstanding principal amount. Convertible Note Hedge and Warrant Transactions In connection with the offering of the 2023 Convertible Notes, the Company entered into convertible note hedge transactions ("2023 Convertible Note Hedges") with certain financial institution counterparties ("2023 Note Hedge Counterparties") whereby the Company has the option to purchase a total of approximately 11.1 million shares of its Class A common stock at a price of approximately $77.85 per share. The total cost of the 2023 Convertible Note Hedges was $172.6 million. In addition, the Company sold warrants ("2023 Warrants") to the 2023 Note Hedge Counterparties whereby the 2023 Note Hedge Counterparties have the option to purchase a total of 11.1 million shares of the Company’s Class A common stock at a price of approximately $109.26 per share. The Company received $112.1 million in cash proceeds from the sale of the 2023 Warrants. Taken together, the purchase of the 2023 Convertible Note Hedges and sale of the 2023 Warrants are intended to reduce dilution from the conversion of the 2023 Convertible Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of the converted 2023 Convertible Notes, as the case may be, and to effectively increase the overall conversion price from approximately $77.85 per share to approximately $109.26 per share. As these instruments are considered indexed to the Company's own stock and are considered equity classified, the 2023 Convertible Note Hedges and 2023 Warrants are recorded in stockholders’ equity, are not accounted for as derivatives, and are not remeasured each reporting period. The net costs incurred in connection with the 2023 Convertible Note Hedges and 2023 Warrants were recorded as a reduction to additional paid-in capital on the condensed consolidated balance sheets. The Company also exercised a pro-rata portion of the 2023 Convertible Note Hedges to offset the shares of the Company's Class A common stock issued to settle the conversion of the 2023 Convertible Notes. The Company has received 3.0 million shares of the Company's Class A common stock from the 2023 Note Hedge Counterparties, of which none were received in the three months ended March 31, 2023. B) 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 $500.0 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. On January 28, 2022, the Company entered into a fifth amendment to the Credit Agreement to permit certain existing obligations of Afterpay and its subsidiaries to remain outstanding as of and after the completion of the Afterpay acquisition. On February 23, 2022, the Company entered into a sixth amendment to the Credit Agreement to, among other things, provide for a new tranche of unsecured revolving loan commitments in an aggregate principal amount of up to $100.0 million (the "Tranche B Loans). 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 a commitment fee of 0.15% per annum on the undrawn portion available under the 2020 Credit Facility. To date, no funds have been drawn and no letters of credit have been issued under the 2020 Credit Facility. As of March 31, 2023, $600.0 million remained available for draw. The Company incurred immaterial unused commitment fees during the three months ended March 31, 2023 and March 31, 2022, respectively. As of March 31, 2023, the Company was in compliance with all financial covenants associated with the 2020 Credit Facility. Loans under the 2020 Credit Facility, excluding the Tranche B Loans, 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 London Interbank Offered Rate ("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 Tranche B Loans bear interest at the Company's option of (i) an annual rate based on the forward-looking term rate based on the Secured Overnight Financing Rate ("Term SOFR") or (ii) a base rate. Tranche B Loans based on Term SOFR shall bear interest at a rate equal to Term SOFR plus a margin of between 1.25% and 1.75%, depending on the Company's total net leverage ratio. Tranche B Loans based on the base rate shall bear interest at a rate based on the highest of the prime rate, the federal funds rate plus 0.50%, and Term SOFR with a tenor of one-month plus 1.00%, in each case, plus a margin ranging from 0.25% to 0.75%, depending on the Company's total net leverage ratio. 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. C) Warehouse Funding Facilities Following the acquisition of Afterpay, the Company assumed Afterpay's existing warehouse funding facilities. The Company has financing arrangements with financial institutions in Australia, New Zealand, the United States, and the United Kingdom (collectively, the “Warehouse Facilities”). The Warehouse Facilities have been arranged utilizing wholly-owned and consolidated entities formed for the sole purpose of financing the origination of consumer receivables to partly fund the Company's BNPL platform. Borrowings under the Warehouse Facilities are secured against the respective consumer receivables. These Warehouse Facilities have maturity dates ranging from December 2023 to December 2024 . As of March 31, 2023, the aggregate commitment amount of the Warehouse Facilities, using the respective exchange rates at period-end, was $1.7 billion on a revolving basis, of which $0.7 billion was drawn and $1.0 billion remained available. All facilities contain portfolio parameters based on performance of the underlying consumer receivables, which each respective region has satisfied as of March 31, 2023. None of the Warehouse Facilities contain corporate financial covenants. All Warehouse Facilities are on a variable rate basis which aligns closely to the weighted average life of the consumer receivables they finance. Borrowings under these facilities bear interest at (i) a base rate aligned to either the local risk free rate, such as Term SOFR and the Sterling Overnight Index Average ("SONIA") or similar, and (ii) a margin which is set for the term of the availability period. In addition, each facility requires payment of immaterial commitment fees. The table below summarizes the amounts drawn on these facilities by year of maturity (in thousands): March 31, 2023 2023 $ 305,195 2024 384,998 Total funding debt, net of deferred debt issuance costs $ 690,193

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company recorded an income tax benefit of $2.1 million for the three months ended March 31, 2023, compared to an income tax benefit of $1.7 million for the three months ended March 31, 2022. The difference between income before income tax at the U.S. federal statutory rate and the income tax benefit recorded for the three months ended March 31, 2023 is primarily due to a change in the valuation allowance in the U.S. and certain foreign jurisdictions, offset by the current year loss of an entity with deferred tax liabilities available to recognize those losses in future periods. The difference between the income tax benefit for the three months ended March 31, 2023 and the income tax benefit for the three months ended March 31, 2022 primarily relates to the inclusion of an entity in the annual effective income tax rate that has a current year loss with deferred tax liabilities available to recognize those losses in future periods and a change in the valuation allowance in certain jurisdictions. The Company is subject to income taxes in the U.S. and certain foreign tax jurisdictions. The tax provision for the three months ended March 31, 2023 and March 31, 2022 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 March 31, 2023, the Company retained a full valuation allowance on its net deferred tax assets in certain 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	3 Months Ended
	Mar. 31, 2023
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. Following the Company's initial public offering in 2015, all new stock options and stock-based awards are granted in Class A common stock. Warrants 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. The 2023 Warrants expire evenly over a 60 trading day period starting on August 15, 2023. None of the warrants were exercised as of March 31, 2023. 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. The 2025 Warrants expire evenly over a 60 trading day period starting on June 1, 2025. None of the warrants were exercised as of March 31, 2023. 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. The 2026 Warrants expire evenly over a 60 trading day period starting on August 1, 2026. None of the warrants were exercised as of March 31, 2023. 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. The 2027 Warrants expire evenly over a 60 trading day period starting on February 1, 2028. None of the warrants were exercised as of March 31, 2023. Conversion of Convertible Notes and Exercise of Convertible Note Hedges In connection with the conversion of the 2023 Convertible Notes, the Company has issued an aggregate 5.2 million shares of Class A common stock as of March 31, 2023, of which no shares were issued in the three months ended March 31, 2023. The Company also exercised a pro-rata portion of the 2023 Convertible Note Hedges and received 3.0 million shares of Class A common stock from the 2023 Note Hedge Counterparties to offset the shares issued as of March 31, 2023. No shares were received in the three months ended March 31, 2023. 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. As of March 31, 2023, the total number of shares subject to stock options, RSAs, and RSUs outstanding under the 2009 Plan was 3,065,728 shares. 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 March 31, 2023, the total number of shares subject to stock options, RSAs, and RSUs outstanding under the 2015 Plan was 30,267,337, and 145,593,622 shares were available for future issuance. A summary of stock option activity for the three months ended March 31, 2023 is as follows (in thousands, except per share data): Number of Stock Options Weighted Weighted Aggregate Outstanding, beginning of the year 6,739 $ 40.37 4.02 $ 224,484 Granted 225 74.50 Exercised (712) 9.58 Forfeited (7) 29.62 Expired (4) $ 126.99 Outstanding, end of the period 6,241 $ 45.07 3.91 $ 213,706 Exercisable, end of the period 5,148 $ 32.60 3.12 $ 209,832 Restricted Stock Activity Activity related to RSAs and RSUs during the three months ended March 31, 2023 is set forth below (in thousands, except per share data): Number of Weighted Unvested, beginning of the year 28,300 $ 97.89 Granted 2,035 80.71 Vested (2,642) 97.68 Forfeited (601) 110.75 Unvested, end of the period 27,092 $ 96.33 Share-Based Compensation The following table summarizes the effects of share-based compensation on the Company's condensed consolidated statements of operations (in thousands): Three Months Ended 2023 2022 Cost of revenue $ 142 $ 109 Product development 197,857 145,075 Sales and marketing 29,365 21,256 General and administrative 52,227 108,983 Total $ 279,591 $ 275,423 The Company recorded $21.1 million and $13.0 million of share-based compensation expense related to the Company's 2015 Employee Stock Purchase Plan during the three months ended March 31, 2023 and March 31, 2022, respectively, which are included in the table above. The total share-based compensation expense for the three months ended March 31, 2022 also includes $66.3 million rel ated to the acceleration of various share-based arrangements associated with the acquisition of Afterpay. The Company capitalized $5.9 million and $3.9 million of share-based compensation expense related to capitalized software costs during the three months ended March 31, 2023 and March 31, 2022, respectively. As of March 31, 2023, there was $2.5 billion of total unrecognized compensation cost related to outstanding stock options, RSUs, and RSAs that are expected to be recognized over a weighted-average period of 2.7 years.

NET LOSS PER SHARE

NET LOSS PER SHARE	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
NET LOSS PER SHARE	NET LOSS PER SHARE Basic net loss per share is computed by dividing the net 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 loss per share (in thousands, except per share data): Three Months Ended 2023 2022 Numerator: Net loss $ (19,326) $ (207,363) Less: Net loss attributable to noncontrolling interests (2,488) (3,164) Net loss attributable to common stockholders $ (16,838) $ (204,199) Denominator: Basic shares: Weighted-average shares used to compute basic net loss per share 602,234 541,435 Diluted shares: Weighted-average shares used to compute diluted net loss per share 602,234 541,435 Net loss per share attributable to common stockholders: Basic $ (0.03) $ (0.38) Diluted $ (0.03) $ (0.38) The following potential common shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (in thousands): Three Months Ended 2023 2022 Stock options, restricted stock, and employee stock purchase plan 36,819 23,402 Convertible notes 18,025 18,038 Common stock warrants 23,188 42,361 Total anti-dilutive securities 78,032 83,801

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS In July 2019, the Company entered into a lease agreement for office space in St. Louis, Missouri, from an affiliate of one of the Company’s co-founders and current member of its board of directors, Mr. Jim McKelvey, for a term of 15.5 years, with options to extend the lease term for two five-year terms. The lease possession date varied by floor, beginning in May 2020. As of March 31, 2023, the Company had recorded right-of-use assets of $10.9 million and associated lease liabilities of $17.7 million related to this lease arrangement. Under the lease agreement, the Company also has an option to terminate the lease for up to 50% of the leased space any time between January 1, 2024 and December 31, 2026, as well as an option to terminate the lease for the entire property on January 1, 2034. Termination penalties specified in the lease agreement will apply if the Company exercises any of the options to terminate the lease. On January 2, 2023, the Company notified the lessor of its intention to exercise the early termination option with respect to approximately 48% of the leased space, effective December 31, 2023. As a result, the Company paid a termination penalty of approximately $5.2 million to exercise the option.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation and Regulatory Matters The Company is currently subject to, and may in the future be involved in, various litigation matters, legal claims, investigations, and regulatory proceedings. The Company received Civil Investigative Demands (“CIDs”) from the Consumer Financial Protection Bureau (“CFPB”), as well as from Attorneys General from multiple states, seeking the production of information related to, among other things, Cash App’s handling of customer complaints and disputes. The Company is cooperating with the CFPB and the state Attorneys General in connection with these CIDs. The Company has accrued a liability for an estimated amount in connection with these CIDs in accordance with ASC 450-20, Contingencies: Loss Contingencies . The accrued amount was not material as of March 31, 2023. Given the status of these matters, it is not possible to reliably determine the range of potential liability in excess of the accrued amounts that could result from these investigations. The Company regularly assesses the likelihood of adverse outcomes resulting from litigation and regulatory proceedings and adjusts the financial statements based on such assessments. The eventual outcome of these matters may differ materially from the estimates the Company has currently accrued in the financial statements. On December 16, 2021, H&R Block, Inc. and HRB Innovations, Inc. (collectively, “HRB”) filed a complaint for trademark infringement against the Company in the United States District Court for the Western District of Missouri. HRB alleges that the Company’s rebranding to Block, Inc. and use of a green square logo in connection with the Company’s Cash App Taxes product infringe HRB’s trademarks and are likely to cause consumer confusion. HRB demands that the Company stop using the Block name and associated branding, and further demands that the Company stop using the green square Cash App logo. A preliminary injunction granted by the trial court on April 28, 2022 preventing the Company from using its Block, Inc. name in connection with Cash App Taxes was stayed by the appellate court on June 8, 2022 for the duration of the Company's appeal of the preliminary injunction. On January 24, 2023, the Eighth Circuit reversed and vacated the injunction granted by the trial court. On February 21, 2023, HRB filed a petition for rehearing en banc, which was denied on March 15, 2023. On March 31, 2023, HRB and the Company entered into a settlement agreement resolving all claims between them. The settlement is not material to the Company’s consolidated financial statements. The case was dismissed on April 24, 2023. In addition, the Company is subject to various legal matters, investigations, inquiries, claims, and disputes, including with regulatory bodies and governmental agencies. 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 other 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 matters, and their resolution could be material to the Company's operating results for any particular period. Purchase Commitments During the year ended December 31, 2022, we entered into non-cancelable purchase obligations related to cloud computing infrastructure. The commitment amounts in the table below are associated with contracts that are enforceable and legally binding and that specify all significant terms, including fixed or minimum services to be used, and the approximate timing of the actions under the contracts. As of March 31, 2023, the future minimum payments under the purchase commitments were as follows (in thousands): Payments Due By Period Remainder of 2023 $ 229,148 2024 300,554 2025 316,425 2026 263,300 2027 315,100 Total $ 1,424,527 Other Contingencies The Company is under examination, or may be subject to examination, by several tax authorities. These examinations may lead to proposed adjustments to the Company's taxes or net operating losses with respect to years under examination, as well as subsequent periods. The Company regularly assesses the likelihood of adverse outcomes resulting from tax examinations to determine the adequacy of the Company's provision for direct and indirect taxes. The Company continues to monitor the progress of ongoing discussions with tax authorities and the effect, if any, on the Company's provision for direct and indirect taxes. Management believes 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 the Company's tax audits are resolved in a manner not consistent with the Company’s expectations, the Company could be required to adjust the Company's provision for direct and indirect taxes in the period such resolution occurs.

SEGMENT AND GEOGRAPHICAL INFORM

SEGMENT AND GEOGRAPHICAL INFORMATION	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHIC INFORMATION	SEGMENT AND GEOGRAPHICAL INFORMATION The Company reports its segments to reflect the manner in which the Company's chief operating decision maker ("CODM") reviews and assesses performance. Accordingly, the Company has two reportable segments, Square and Cash App. The financial results of the Company's BNPL platform have been allocated equally to the Cash App and Square segments as management has concluded that the BNPL platform will contribute equally to both the Cash App and Square platforms. Further, Afterpay does not have a segment manager who reports to the CODM. Rather, the operations of Afterpay are managed by the segment managers of Cash App and Square, who are responsible for allocating resources and evaluating the performance of Afterpay. Products and services that are not assigned to a specific reportable segment, including but not limited to TIDAL, TBD, and Spiral, are aggregated and presented within a general corporate and other category. Square and Cash App are defined as follows: • 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 App Card which is linked to customer stored balances that customers can use to pay for purchases or withdraw funds from an ATM. • Square includes managed payment services, software solutions, hardware, and financial services offered to sellers, excluding those that involve Cash App. 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. The following tables present information on the reportable segments revenue and segment gross profit (in thousands): Three Months Ended Cash App Square Corporate and Other (i) Total Revenue: Transaction-based revenue $ 134,663 $ 1,288,042 $ — $ 1,422,705 Subscription and services-based revenue 973,891 341,741 50,592 1,366,224 Hardware revenue — 37,451 — 37,451 Bitcoin revenue 2,163,751 — — 2,163,751 Segment revenue $ 3,272,305 $ 1,667,234 $ 50,592 $ 4,990,131 Segment gross profit (ii) $ 931,240 $ 770,275 $ 13,069 $ 1,714,584 Three Months Ended Cash App Square Corporate and Other (i) Total Revenue: Transaction-based revenue $ 109,241 $ 1,123,728 $ — $ 1,232,969 Subscription and services-based revenue 622,309 282,650 54,598 959,557 Hardware revenue — 37,326 — 37,326 Bitcoin revenue 1,730,793 — — 1,730,793 Segment revenue $ 2,462,343 $ 1,443,704 $ 54,598 $ 3,960,645 Segment gross profit (ii) $ 623,659 $ 661,221 $ 10,080 $ 1,294,960 (i) Corporate and other represents results related to products and services that are not assigned to a specific reportable segment, and intersegment eliminations between Cash App and Square. (ii) Segment gross profit for Cash App for the three months ended March 31, 2023 and March 31, 2022 included $8.5 million and $7.0 million of amortization of acquired technology assets expense, respectively. Segment gross profit for Square for the three months ended and March 31, 2023 and March 31, 2022 included $8.6 million and $7.0 million of amortization of acquired technology assets expense, respectively. Amortization of acquired technology assets expense included in Corporate and Other was immaterial for the three months ended March 31, 2023 and March 31, 2022. The following table provides a reconciliation of total segment gross profit to the Company’s loss before applicable income taxes (in thousands): Three Months Ended 2023 2022 Total segment gross profit $ 1,714,584 $ 1,294,960 Less: Product development 626,937 458,224 Less: Sales and marketing 496,011 501,562 Less: General and administrative 432,825 444,149 Less: Transaction, loan, and consumer receivable losses 127,896 91,150 Less: Amortization of customer and other intangible assets 37,087 26,664 Less: Interest expense (income), net (3,161) 15,748 Less: Other expense (income), net 18,371 (33,472) Loss before applicable income taxes $ (21,382) $ (209,065) Revenue by geography is based on the addresses of the sellers or customers. The following table details revenue by geographic area (in thousands): Three Months Ended 2023 2022 United States $ 4,664,635 $ 3,721,597 International 325,496 239,048 Total $ 4,990,131 $ 3,960,645 No individual country from the international markets contributed more than 10% of total revenue for the three months ended March 31, 2023 and March 31, 2022. Long-Lived Assets The following table details long-lived assets by geography (in thousands): March 31, 2023 December 31, 2022 United States $ 7,960,049 $ 8,023,535 Australia 4,700,189 4,801,434 Other international 1,884,495 1,858,300 Total $ 14,544,733 $ 14,683,269

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2023
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): Three Months Ended 2023 2022 Supplemental cash flow data: Cash paid for interest $ 16,680 $ 2,725 Cash paid for income taxes 18,652 1,611 Supplemental disclosures of non-cash investing and financing activities: Right-of-use assets obtained in exchange for operating lease obligations 518 26,090 Purchases of property and equipment in accounts payable and accrued expenses 6,580 16,338 Fair value of common stock issued related to business combinations — (13,827,929) Fair value of common stock issued to settle the conversion of convertible notes — (2,496) Fair value of common stock shares received to settle convertible note hedges — 133,141

DESCRIPTION OF BUSINESS AND S_2

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2023
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, 2022 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, and cash flows for the interim periods. The condensed consolidated financial statements include the financial statements of Block 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 months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023, 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, 2022.
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.
Concentration of Credit Risk	Concentration of Credit Risk For the three months ended March 31, 2023 and March 31, 2022, the Company had no customer that accounted for greater than 10% of total net revenue. The Company had three third-party payment processors that represented approximately 41%, 29%, and 10% of settlements receivable as of March 31, 2023. As of December 31, 2022, there were two parties that represented approximately 54% and 31% of settlements receivable. In both periods, all other third-party payment processors were insignificant. Certain of the Company's products are reliant on third-party service providers such as partner banks, card issuers, and payment service providers. The Company's relationships with third-party service providers may result in operational concentration risks for some of these products. 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, consumer receivables, loans held for sale, and loans held for investment. To mitigate the risk of concentration associated with cash and cash equivalents, as well as restricted cash, funds are held with creditworthy institutions and, at certain times, temporarily swept into insured programs overnight to reduce single firm concentration risk. Amounts on deposit may 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 in cluded in sales and marketing expenses on the condensed consolidated statements of operations. Total advertising costs wer e $89.1 million for the three months ended March 31, 2023 compared to $156.3 million for the three months ended March 31, 2022. The Company also records
Recently Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In March 2022, the Financial Accounting Standards Board ("FASB") issued ASU No. 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method ("ASU 2022-01") related to the portfolio layer method of hedge accounting. The amendments allow nonprepayable financial assets to be included in a closed portfolio hedge using the portfolio layer method. ASU 2022-01 also allows for multiple hedged layers to be designated for a single closed portfolio of financial assets or one or more beneficial interests secured by a portfolio of financial instruments. The Company adopted this guidance effective January 1, 2023, 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. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures (“ASU 2022-02”) related to troubled debt restructuring and vintage disclosures for financing receivables. The amendments eliminate recognition and measurement guidance for troubled debt restructurings for creditors and requires entities to evaluate if the modification represents a new loan or a continuation of the existing loan. ASU 2022-02 also enhances disclosure requirements for certain loan refinancing and restructurings made to borrowers experiencing financial difficulty and requires disclosure of current period write-offs by year of origination for financing receivables. The Company adopted this guidance effective January 1, 2023, 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 In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions ("ASU 2022-03") related to equity securities. The amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. An entity is prohibited from recognizing a contractual sale restriction as a separate unit of account. ASU 2022-03 also requires specific disclosures related to equity securities that are subject to contractual restrictions, including the fair value of such equity securities, the nature and remaining duration of the corresponding restrictions, and any circumstances that could cause a lapse in the restrictions. The amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the adoption to have a material impact on the Company's financial statements.
Fair Value of Financial Instruments	FAIR VALUE MEASUREMENTSThe 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 measures its safeguarding obligation liability related to bitcoin held for other parties at the fair value of the bitcoin that the Company holds for other parties and classifies the liability within Level 2 because the Company uses observable market prices of the underlying bitcoin as an input for the valuation. The Company also classifies its safeguarding asset related to bitcoin held for other parties within Level 2, unless the asset's carrying amount is adjusted to reflect any actual or potential safeguarding loss events, in which case it would be classified within Level 3. The Company was not aware of any actual or possible safeguarding loss events as of

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents the Company's net revenue disaggregated by revenue source (in thousands): Three Months Ended 2023 2022 Revenue from contracts with customers: Transaction-based revenue $ 1,422,705 $ 1,232,969 Subscription and services-based revenue 1,038,613 724,745 Hardware revenue 37,451 37,326 Bitcoin revenue 2,163,751 1,730,793 Revenue from other sources: Subscription and services-based revenue (i) 327,611 234,812 Total net revenue $ 4,990,131 $ 3,960,645 (i) Subscription and services-based revenue generated from Square Loans and consumer receivables originated through the BNPL platform.

INVESTMENTS IN DEBT SECURITIES

INVESTMENTS IN DEBT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Short-term and Long-term Investments	The Company's short-term and long-term investments as of March 31, 2023 were as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 121,972 $ 31 $ (1,706) $ 120,297 Corporate bonds 364,948 — (6,690) 358,258 Commercial paper 7,461 — — 7,461 Municipal securities 6,587 — (120) 6,467 Certificates of deposit 2,500 — — 2,500 U.S. government securities 527,991 16 (6,439) 521,568 Foreign government securities 7,724 — (165) 7,559 Total $ 1,039,183 $ 47 $ (15,120) $ 1,024,110 Long-term debt securities: U.S. agency securities $ 58,494 $ — $ (2,626) $ 55,868 Corporate bonds 157,810 16 (4,324) 153,502 Municipal securities 10,410 12 (530) 9,892 U.S. government securities 201,379 20 (8,868) 192,531 Foreign government securities 1,000 — (46) 954 Total $ 429,093 $ 48 $ (16,394) $ 412,747 The Company's short-term and long-term investments as of December 31, 2022 were as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 96,545 $ 16 $ (2,120) $ 94,441 Corporate bonds 368,110 2 (7,475) 360,637 Commercial paper 31,503 — — 31,503 Municipal securities 9,884 — (191) 9,693 Certificates of deposit 6,400 — — 6,400 U.S. government securities 580,568 6 (8,937) 571,637 Foreign government securities 7,795 — (255) 7,540 Total $ 1,100,805 $ 24 $ (18,978) $ 1,081,851 Long-term debt securities: U.S. agency securities $ 74,097 $ — $ (3,782) $ 70,315 Corporate bonds 245,891 6 (9,171) 236,726 Municipal securities 10,415 3 (664) 9,754 U.S. government securities 268,902 — (13,210) 255,692 Foreign government securities 1,000 — (58) 942 Total $ 600,305 $ 9 $ (26,885) $ 573,429
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 March 31, 2023 and December 31, 2022, aggregated by investment category and the length of time that individual securities have been in a continuous loss position were as follows (in thousands): March 31, 2023 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 $ 26,381 $ (31) $ 92,659 $ (1,675) $ 119,040 $ (1,706) Corporate bonds 30,590 (118) 327,472 (6,572) 358,062 (6,690) Municipal securities — — 6,468 (120) 6,468 (120) U.S. government securities 152,623 (482) 321,220 (5,957) 473,843 (6,439) Foreign government securities — — 7,559 (165) 7,559 (165) Total $ 209,594 $ (631) $ 755,378 $ (14,489) $ 964,972 $ (15,120) Long-term debt securities: U.S. agency securities $ 8,966 $ (35) $ 46,903 $ (2,591) $ 55,869 $ (2,626) Corporate bonds 21,761 (158) 129,136 (4,166) 150,897 (4,324) Municipal securities 471 (29) 8,909 (501) 9,380 (530) U.S. government securities 4,879 (10) 170,033 (8,858) 174,912 (8,868) Foreign government securities — — 954 (46) 954 (46) Total $ 36,077 $ (232) $ 355,935 $ (16,162) $ 392,012 $ (16,394) December 31, 2022 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 $ 8,572 $ (24) $ 84,628 $ (2,096) $ 93,200 $ (2,120) Corporate bonds 34,795 (423) 320,748 (7,052) 355,543 (7,475) Municipal securities 587 (13) 5,811 (178) 6,398 (191) U.S. government securities 146,974 (839) 394,880 (8,098) 541,854 (8,937) Foreign government securities — — 7,540 (255) 7,540 (255) Total $ 190,928 $ (1,299) $ 813,607 $ (17,679) $ 1,004,535 $ (18,978) Long-term debt securities: U.S. agency securities $ 11,501 $ (20) $ 58,814 $ (3,762) $ 70,315 $ (3,782) Corporate bonds 33,862 (262) 201,791 (8,909) 235,653 (9,171) Municipal securities 467 (33) 8,784 (631) 9,251 (664) U.S. government securities 54,405 (590) 201,288 (12,620) 255,693 (13,210) Foreign government securities — — 942 (58) 942 (58) Total $ 100,235 $ (905) $ 471,619 $ (25,980) $ 571,854 $ (26,885)
Contractual Maturities of Short-Term and Long-Term Investments	The contractual maturities of the Company's short-term and long-term investments as of March 31, 2023 were as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 1,039,183 $ 1,024,110 Due in one to five years 429,093 412,747 Total $ 1,468,276 $ 1,436,857

CUSTOMER FUNDS (Tables)

CUSTOMER FUNDS (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Assets Underlying Customer Funds	The following table presents the assets underlying customer funds (in thousands): March 31, 2023 December 31, 2022 Cash $ 2,403,642 $ 1,748,983 Cash equivalents: Money market funds 737,522 851,296 Reverse repurchase agreement (i) 659,309 580,045 Total customer funds $ 3,800,473 $ 3,180,324 (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 classified the amounts due from the counterparty as cash equivalents due to the short-term nature.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The Company’s assets and liabilities that are measured at fair value on a recurring basis were classified as follows (in thousands): March 31, 2023 December 31, 2022 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 962,662 $ — $ — $ 1,230,924 $ — $ — U.S. agency securities — — — — 7,923 — Commercial paper — — — — 25,080 — Restricted cash: Money market funds 118,780 — — — — — Customer funds: Money market funds 737,522 — — 851,296 — — Reverse repurchase agreement 659,309 — — 580,045 — — Short-term debt securities: U.S. government securities 521,568 — — 571,637 — — Corporate bonds — 358,258 — — 360,637 — U.S. agency securities — 120,297 — — 94,441 — Certificates of deposit — 2,500 — — 6,400 — Commercial paper — 7,461 — — 31,503 — Municipal securities — 6,467 — — 9,693 — Foreign government securities — 7,559 — — 7,540 — Long-term debt securities: U.S. government securities 192,531 — — 255,692 — — Corporate bonds — 153,502 — — 236,726 — U.S. agency securities — 55,868 — — 70,315 — Municipal securities — 9,892 — — 9,754 — Foreign government securities — 954 — — 942 — Other: Investment in marketable equity security 11,012 — — 11,092 — — Safeguarding asset related to bitcoin held for other parties — 726,495 — — 428,243 — Safeguarding obligation liability related to bitcoin held for other parties — (726,495) — — (428,243) — Total assets (liabilities) measured at fair value $ 3,203,384 $ 722,758 $ — $ 3,500,686 $ 860,954 $ — March 31, 2023 December 31, 2022 Carrying Value Fair Value (Level 2) Carrying Value Fair Value (Level 2) 2031 Senior Notes $ 988,513 $ 814,189 $ 988,171 $ 782,857 2026 Senior Notes 991,101 902,239 990,414 885,876 2027 Convertible Notes 568,863 437,763 568,535 433,082 2026 Convertible Notes 569,734 469,689 569,315 464,066 2025 Convertible Notes 994,145 958,713 993,394 943,188 2023 Convertible Notes 460,539 472,522 460,356 480,925 Total $ 4,572,895 $ 4,055,115 $ 4,570,185 $ 3,989,994 The estimated fair value and carrying value of loans held for sale and loans held for investment were as follows (in thousands): March 31, 2023 December 31, 2022 Carrying Value Fair Value (Level 3) Carrying Value Fair Value (Level 3) Loans held for sale $ 476,754 $ 492,735 $ 474,036 $ 491,807 Loans held for investment 178,300 182,344 123,959 126,122 Total $ 655,054 $ 675,079 $ 597,995 $ 617,929

CONSUMER RECEIVABLES, NET (Tabl

CONSUMER RECEIVABLES, NET (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Aging Analysis of Consumer Receivables held for Investment	The following table presents an aging analysis of the amortized cost of consumer receivables by delinquency status (in thousands): March 31, 2023 December 31, 2022 Non-delinquent loans $ 1,330,642 $ 1,643,874 1 - 60 days past due 191,609 295,830 61 - 90 days past due 40,249 20,612 90+ days past due 65,545 62,134 Total amortized cost $ 1,628,045 $ 2,022,450
Activity in Allowance for Credit Losses	The following table summarizes activity in the allowance for credit losses subsequent to the acquisition of Afterpay (in thousands): Three Months Ended March 31, 2023 From Acquisition on Allowance for credit losses, beginning of the period (i) $ 151,290 $ 115,552 Provision for credit losses 43,131 36,505 Charge-offs and other adjustments (52,401) (53,780) Foreign exchange effect (486) 11,547 Allowance for credit losses, end of the period $ 141,534 $ 109,824 (i) Consumer receivables acquired from Afterpay that reflected a more-than-insignificant deterioration of credit from origination were considered purchased credit deteriorated ("PCD") receivables. For PCD consumer receivables, the initial estimate of expected credit losses is recognized in the allowance for credit losses on the date of acquisition using the same methodology as other consumer receivables.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Assets Acquired and Liabilities Assumed	The table below summarizes the consideration paid for Afterpay and the assessment of the fair value of the assets acquired and liabilities assumed at the closing date (in thousands, except share data): Consideration: Stock (113,617,352 shares of Class A common stock, excluding value accounted as post-combination expense of $66,337) $ 13,827,929 Cash paid to settle tax withholding in connection with replacement awards 8,693 Total $ 13,836,622 Recognized amounts of identifiable assets acquired and liabilities assumed: Current assets (inclusive of cash, cash equivalents, and restricted cash acquired) $ 653,709 Consumer receivables 1,245,508 Intangible customer assets 1,378,000 Intangible technology assets 239,000 Intangible trade name 386,000 Other non-current assets 74,232 Long-term debt - current (i) (1,058,065) Current liabilities (439,358) Warehouse funding facilities (ii) (107,996) Deferred tax liabilities (190,689) Other non-current liabilities (63,213) Total identifiable net assets acquired 2,117,128 Goodwill 11,719,494 Total $ 13,836,622 (i) Long-term debt - current is comprised of the aforementioned Afterpay convertible notes, which were redeemed in cash at face value on March 4, 2022. (ii) Refer to Note 13, Indebtedness for further details.

ACQUIRED INTANGIBLE ASSETS (Tab

ACQUIRED INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Finite Lived Intangible Assets	The following tables present the detail of acquired intangible assets as of the periods presented (in thousands): Balance at March 31, 2023 Weighted Average Estimated Useful Life Cost Accumulated Amortization Net Technology assets 5 years $ 396,916 $ (151,189) $ 245,727 Customer assets 15 years 1,467,212 (134,798) 1,332,414 Trade names 9 years 432,814 (69,725) 363,089 Other 9 years 13,701 (5,845) 7,856 Total $ 2,310,643 $ (361,557) $ 1,949,086 Balance at December 31, 2022 Weighted Average Estimated Useful Life Cost Accumulated Amortization Net Technology assets 5 years $ 398,665 $ (133,116) $ 265,549 Customer assets 15 years 1,474,163 (110,316) 1,363,847 Trade names 9 years 434,766 (58,352) 376,414 Other 9 years 13,701 (5,477) 8,224 Total $ 2,321,295 $ (307,261) $ 2,014,034 The changes to the carrying value of intangible assets were as follows (in thousands): Three Months Ended 2023 2022 Acquired intangible assets, net, beginning of the period $ 2,014,034 $ 257,049 Acquisitions — 2,025,000 Amortization expense (55,595) (42,160) Foreign currency translation adjustments (9,353) 35,310 Acquired intangible assets, net, end of the period $ 1,949,086 $ 2,275,199
Future Amortization Expense of Intangible Assets	The estimated future amortization expense of intangible assets in future periods as of March 31, 2023 was as follows (in thousands): Remainder of 2023 $ 165,612 2024 217,392 2025 210,565 2026 196,498 2027 148,734 Thereafter 1,010,285 Total $ 1,949,086

OTHER CONSOLIDATED BALANCE SH_3

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Current Assets	The following table presents the detail of other current assets (in thousands): March 31, 2023 December 31, 2022 Inventory, net $ 101,655 $ 97,703 Restricted cash (i) 414,267 639,780 Processing costs receivable 305,935 298,568 Prepaid expenses 135,706 141,262 Accounts receivable, net 133,502 140,508 Loans held for investment, net of allowance for loan losses (ii) 178,300 123,959 Other 157,845 185,485 Total $ 1,427,210 $ 1,627,265 (i) Includes a portion invested in money market funds. Refer to Note 5, Fair Value Measurements for further details . (ii) Refer to Note 7, 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): March 31, 2023 December 31, 2022 Accrued expenses $ 379,252 $ 382,571 Accounts payable 100,093 95,846 Customer deposits 155,494 141,893 Accrued transaction losses (i) 62,085 64,539 Accrued royalties 58,538 63,684 Operating lease liabilities, current 62,673 66,854 Other 248,068 258,129 Total $ 1,066,203 $ 1,073,516 (i) The Company is exposed to potential credit losses related to transactions processed by sellers that are subsequently subject to chargebacks when the Company is unable to collect from the sellers primarily due to insolvency. Generally, the Company estimates the potential loss rates based on historical experience that is continuously adjusted for new information and incorporates, where applicable, reasonable and supportable forecasts about future expectations. The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands): Three Months Ended 2023 2022 Accrued transaction losses, beginning of the period $ 64,539 $ 55,167 Provision for transaction losses 24,942 20,721 Charge-offs to accrued transaction losses (27,396) (22,229) Accrued transaction losses, end of the period $ 62,085 $ 53,659
Reserve for Transaction Losses	The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands): Three Months Ended 2023 2022 Accrued transaction losses, beginning of the period $ 64,539 $ 55,167 Provision for transaction losses 24,942 20,721 Charge-offs to accrued transaction losses (27,396) (22,229) Accrued transaction losses, end of the period $ 62,085 $ 53,659

OTHER CONSOLIDATED BALANCE SH_4

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) (Tables)	3 Months Ended
	Mar. 31, 2023
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): March 31, 2023 December 31, 2022 Property and equipment, net $ 332,144 $ 329,302 Investment in non-marketable equity securities (i) 205,225 208,880 Investment in bitcoin, net (ii) 102,479 102,303 Restricted cash 70,350 71,600 Other 101,314 101,454 Total $ 811,512 $ 813,539 (i) Investment in non-marketable equity securities represents the Company's investments in equity of non-public entities. These investments are measured using the measurement alternative and are therefore carried at cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments are recorded within other expense (income), net on the condensed consolidated statements of operations. Unrealized gains and losses were immaterial as of March 31, 2023. (ii) As of March 31, 2023, the Company has purchased a cumulative $220.0 million in bitcoin for investment purposes. Investment in bitcoin is accounted for as an indefinite-lived intangible asset, and does not include any bitcoin held for other parties, which is further described in Note 12, Bitcoin Held for Other Parties . Investment in bitcoin 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. The Company recorded no impairment losses i n the three months ended March 31, 2023. As of March 31, 2023, the cumulative impairment charges to date were $117.7 million and the fair value of the investment in bitcoin was $228.7 million based on observable market prices, which was $126.2 million in excess of the Company's carrying value of $102.5 million after impairment charges.

BITCOIN HELD FOR OTHER PARTIES

BITCOIN HELD FOR OTHER PARTIES (Tables)	3 Months Ended
	Mar. 31, 2023
Other Liabilities Disclosure [Abstract]
Bitcoin Held on Behalf of Others	The following table summarizes the Company’s bitcoin held for other parties (in thousands, except number of bitcoin): March 31, 2023 December 31, 2022 Approximate number of bitcoin held for customers 25,507 25,850 Approximate number of bitcoin held for trading partners 3 62 Total approximate number of bitcoin held for other parties 25,510 25,912 Safeguarding obligation liability related to bitcoin held for customers $ 726,397 $ 427,221 Safeguarding obligation liability related to bitcoin held for trading partners 98 1,022 Safeguarding obligation liability related to bitcoin held for other parties $ 726,495 $ 428,243 Safeguarding asset related to bitcoin held for other parties $ 726,495 $ 428,243

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Net Carrying Amount of Convertible Notes	The net carrying amount of the Notes as of March 31, 2023 were as follows (in thousands): Principal Outstanding Unamortized Debt Issuance Costs Net Carrying Value 2031 Senior Notes $ 1,000,000 $ (11,487) $ 988,513 2026 Senior Notes 1,000,000 (8,899) 991,101 2027 Convertible Notes 575,000 (6,137) 568,863 2026 Convertible Notes 575,000 (5,266) 569,734 2025 Convertible Notes 1,000,000 (5,856) 994,145 2023 Convertible Notes (i) 460,630 (91) 460,539 Total $ 4,610,630 $ (37,736) $ 4,572,895 (i) Net carrying value disclosed as current portion of long-term debt within total current liabilities on the condensed consolidated balance sheet. The net carrying amount of the Notes as of December 31, 2022 were as follows (in thousands): Principal Outstanding Unamortized Debt Issuance Costs Net Carrying Value 2031 Senior Notes $ 1,000,000 $ (11,829) $ 988,171 2026 Senior Notes 1,000,000 (9,586) 990,414 2027 Convertible Notes 575,000 (6,465) 568,535 2026 Convertible Notes 575,000 (5,685) 569,315 2025 Convertible Notes 1,000,000 (6,606) 993,394 2023 Convertible Notes (i) 460,630 (274) 460,356 Total $ 4,610,630 $ (40,445) $ 4,570,185 (i) Net carrying value disclosed as current portion of long-term debt within total current liabilities on the condensed consolidated balance sheet.
Interest Expense on Convertible Notes	The Company recognized interest expense on the Notes as follows (in thousands): Three Months Ended 2023 2022 Contractual interest expense $ 16,495 $ 16,466 Amortization of debt issuance costs (i) 2,710 2,703 Total $ 19,205 $ 19,169 (i) Upon adoption of ASU 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.
Amounts Drawn on Facilities by Year of Maturity	The table below summarizes the amounts drawn on these facilities by year of maturity (in thousands): March 31, 2023 2023 $ 305,195 2024 384,998 Total funding debt, net of deferred debt issuance costs $ 690,193

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity	A summary of stock option activity for the three months ended March 31, 2023 is as follows (in thousands, except per share data): Number of Stock Options Weighted Weighted Aggregate Outstanding, beginning of the year 6,739 $ 40.37 4.02 $ 224,484 Granted 225 74.50 Exercised (712) 9.58 Forfeited (7) 29.62 Expired (4) $ 126.99 Outstanding, end of the period 6,241 $ 45.07 3.91 $ 213,706 Exercisable, end of the period 5,148 $ 32.60 3.12 $ 209,832
Restricted Stock Awards and Restricted Stock Units Activity	Activity related to RSAs and RSUs during the three months ended March 31, 2023 is set forth below (in thousands, except per share data): Number of Weighted Unvested, beginning of the year 28,300 $ 97.89 Granted 2,035 80.71 Vested (2,642) 97.68 Forfeited (601) 110.75 Unvested, end of the period 27,092 $ 96.33
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 2023 2022 Cost of revenue $ 142 $ 109 Product development 197,857 145,075 Sales and marketing 29,365 21,256 General and administrative 52,227 108,983 Total $ 279,591 $ 275,423

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Basic and Diluted Net Income (Loss) Per Share	The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data): Three Months Ended 2023 2022 Numerator: Net loss $ (19,326) $ (207,363) Less: Net loss attributable to noncontrolling interests (2,488) (3,164) Net loss attributable to common stockholders $ (16,838) $ (204,199) Denominator: Basic shares: Weighted-average shares used to compute basic net loss per share 602,234 541,435 Diluted shares: Weighted-average shares used to compute diluted net loss per share 602,234 541,435 Net loss per share attributable to common stockholders: Basic $ (0.03) $ (0.38) Diluted $ (0.03) $ (0.38)
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 loss per share because their effect would have been anti-dilutive for the periods presented (in thousands): Three Months Ended 2023 2022 Stock options, restricted stock, and employee stock purchase plan 36,819 23,402 Convertible notes 18,025 18,038 Common stock warrants 23,188 42,361 Total anti-dilutive securities 78,032 83,801

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Recorded Unconditional Purchase Obligations	As of March 31, 2023, the future minimum payments under the purchase commitments were as follows (in thousands): Payments Due By Period Remainder of 2023 $ 229,148 2024 300,554 2025 316,425 2026 263,300 2027 315,100 Total $ 1,424,527

SEGMENT AND GEOGRAPHICAL INFO_2

SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Reporting Information, by Segment	The following tables present information on the reportable segments revenue and segment gross profit (in thousands): Three Months Ended Cash App Square Corporate and Other (i) Total Revenue: Transaction-based revenue $ 134,663 $ 1,288,042 $ — $ 1,422,705 Subscription and services-based revenue 973,891 341,741 50,592 1,366,224 Hardware revenue — 37,451 — 37,451 Bitcoin revenue 2,163,751 — — 2,163,751 Segment revenue $ 3,272,305 $ 1,667,234 $ 50,592 $ 4,990,131 Segment gross profit (ii) $ 931,240 $ 770,275 $ 13,069 $ 1,714,584 Three Months Ended Cash App Square Corporate and Other (i) Total Revenue: Transaction-based revenue $ 109,241 $ 1,123,728 $ — $ 1,232,969 Subscription and services-based revenue 622,309 282,650 54,598 959,557 Hardware revenue — 37,326 — 37,326 Bitcoin revenue 1,730,793 — — 1,730,793 Segment revenue $ 2,462,343 $ 1,443,704 $ 54,598 $ 3,960,645 Segment gross profit (ii) $ 623,659 $ 661,221 $ 10,080 $ 1,294,960 (i) Corporate and other represents results related to products and services that are not assigned to a specific reportable segment, and intersegment eliminations between Cash App and Square. (ii) Segment gross profit for Cash App for the three months ended March 31, 2023 and March 31, 2022 included $8.5 million and $7.0 million of amortization of acquired technology assets expense, respectively. Segment gross profit for Square for the three months ended and March 31, 2023 and March 31, 2022 included $8.6 million and $7.0 million of amortization of acquired technology assets expense, respectively. Amortization of acquired technology assets expense included in Corporate and Other was immaterial for the three months ended March 31, 2023 and March 31, 2022.
Reconciliation of Total Segment Profit to Income before applicable Income Taxes	The following table provides a reconciliation of total segment gross profit to the Company’s loss before applicable income taxes (in thousands): Three Months Ended 2023 2022 Total segment gross profit $ 1,714,584 $ 1,294,960 Less: Product development 626,937 458,224 Less: Sales and marketing 496,011 501,562 Less: General and administrative 432,825 444,149 Less: Transaction, loan, and consumer receivable losses 127,896 91,150 Less: Amortization of customer and other intangible assets 37,087 26,664 Less: Interest expense (income), net (3,161) 15,748 Less: Other expense (income), net 18,371 (33,472) Loss before applicable income taxes $ (21,382) $ (209,065)
Revenue by Geographic Area	Revenue by geography is based on the addresses of the sellers or customers. The following table details revenue by geographic area (in thousands): Three Months Ended 2023 2022 United States $ 4,664,635 $ 3,721,597 International 325,496 239,048 Total $ 4,990,131 $ 3,960,645
Long-lived Assets by Geographic Area	The following table details long-lived assets by geography (in thousands): March 31, 2023 December 31, 2022 United States $ 7,960,049 $ 8,023,535 Australia 4,700,189 4,801,434 Other international 1,884,495 1,858,300 Total $ 14,544,733 $ 14,683,269

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Cash Flow, Supplemental Disclosures	The supplemental disclosures of cash flow information consist of the following (in thousands): Three Months Ended 2023 2022 Supplemental cash flow data: Cash paid for interest $ 16,680 $ 2,725 Cash paid for income taxes 18,652 1,611 Supplemental disclosures of non-cash investing and financing activities: Right-of-use assets obtained in exchange for operating lease obligations 518 26,090 Purchases of property and equipment in accounts payable and accrued expenses 6,580 16,338 Fair value of common stock issued related to business combinations — (13,827,929) Fair value of common stock issued to settle the conversion of convertible notes — (2,496) Fair value of common stock shares received to settle convertible note hedges — 133,141

DESCRIPTION OF BUSINESS AND S_3

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($) segment customer third_party_processor	Mar. 31, 2022 USD ($) customer	Dec. 31, 2022 third_party_processor
Concentration Risk [Line Items]
Number of reportable segments | segment	2
Advertising costs	$ 89.1	$ 156.3
Selling and marketing expenses not directly related to a revenue generating transaction	$ 243.7	$ 202.3
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
Settlements Receivable | Credit Concentration Risk
Concentration Risk [Line Items]
Number of third party processors | third_party_processor	3		2
Settlements Receivable | Credit Concentration Risk | Third Party Processor One
Concentration Risk [Line Items]
Concentration risk	41%		54%
Settlements Receivable | Credit Concentration Risk | Third Party Processor Two
Concentration Risk [Line Items]
Concentration risk	29%		31%
Settlements Receivable | Credit Concentration Risk | Third Party Processor Three
Concentration Risk [Line Items]
Concentration risk	10%

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 4,990,131	$ 3,960,645
Transaction-based revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,422,705	1,232,969
Revenue	1,422,705	1,232,969
Subscription and services-based revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,038,613	724,745
Revenues from other sources	327,611	234,812
Revenue	1,366,224	959,557
Hardware revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	37,451	37,326
Revenue	37,451	37,326
Bitcoin revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,163,751	1,730,793
Revenue	$ 2,163,751	$ 1,730,793

INVESTMENTS IN DEBT SECURITIE_2

INVESTMENTS IN DEBT SECURITIES - Short-Term and Long-Term Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,468,276
Fair Value	1,436,857
Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,039,183	$ 1,100,805
Gross Unrealized Gains	47	24
Gross Unrealized Losses	(15,120)	(18,978)
Fair Value	1,024,110	1,081,851
Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	429,093	600,305
Gross Unrealized Gains	48	9
Gross Unrealized Losses	(16,394)	(26,885)
Fair Value	412,747	573,429
U.S. agency securities | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	121,972	96,545
Gross Unrealized Gains	31	16
Gross Unrealized Losses	(1,706)	(2,120)
Fair Value	120,297	94,441
U.S. agency securities | Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	58,494	74,097
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(2,626)	(3,782)
Fair Value	55,868	70,315
Corporate bonds | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	364,948	368,110
Gross Unrealized Gains	0	2
Gross Unrealized Losses	(6,690)	(7,475)
Fair Value	358,258	360,637
Corporate bonds | Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	157,810	245,891
Gross Unrealized Gains	16	6
Gross Unrealized Losses	(4,324)	(9,171)
Fair Value	153,502	236,726
Commercial paper | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	7,461	31,503
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	7,461	31,503
Municipal securities | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,587	9,884
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(120)	(191)
Fair Value	6,467	9,693
Municipal securities | Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,410	10,415
Gross Unrealized Gains	12	3
Gross Unrealized Losses	(530)	(664)
Fair Value	9,892	9,754
Certificates of deposit | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,500	6,400
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	2,500	6,400
U.S. government securities | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	527,991	580,568
Gross Unrealized Gains	16	6
Gross Unrealized Losses	(6,439)	(8,937)
Fair Value	521,568	571,637
U.S. government securities | Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	201,379	268,902
Gross Unrealized Gains	20	0
Gross Unrealized Losses	(8,868)	(13,210)
Fair Value	192,531	255,692
Foreign government securities | Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	7,724	7,795
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(165)	(255)
Fair Value	7,559	7,540
Foreign government securities | Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,000	1,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(46)	(58)
Fair Value	$ 954	$ 942

INVESTMENTS IN DEBT SECURITIE_3

INVESTMENTS IN DEBT SECURITIES - Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Short-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	$ 209,594	$ 190,928
Less than 12 Months, Gross Unrealized Losses	(631)	(1,299)
Greater than 12 months, Fair Value	755,378	813,607
Greater than 12 months, Gross Unrealized Losses	(14,489)	(17,679)
Total, Fair Value	964,972	1,004,535
Total, Gross Unrealized Losses	(15,120)	(18,978)
Short-term debt securities | U.S. agency securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	26,381	8,572
Less than 12 Months, Gross Unrealized Losses	(31)	(24)
Greater than 12 months, Fair Value	92,659	84,628
Greater than 12 months, Gross Unrealized Losses	(1,675)	(2,096)
Total, Fair Value	119,040	93,200
Total, Gross Unrealized Losses	(1,706)	(2,120)
Short-term debt securities | Corporate bonds
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	30,590	34,795
Less than 12 Months, Gross Unrealized Losses	(118)	(423)
Greater than 12 months, Fair Value	327,472	320,748
Greater than 12 months, Gross Unrealized Losses	(6,572)	(7,052)
Total, Fair Value	358,062	355,543
Total, Gross Unrealized Losses	(6,690)	(7,475)
Short-term debt securities | Municipal securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	0	587
Less than 12 Months, Gross Unrealized Losses	0	(13)
Greater than 12 months, Fair Value	6,468	5,811
Greater than 12 months, Gross Unrealized Losses	(120)	(178)
Total, Fair Value	6,468	6,398
Total, Gross Unrealized Losses	(120)	(191)
Short-term debt securities | U.S. government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	152,623	146,974
Less than 12 Months, Gross Unrealized Losses	(482)	(839)
Greater than 12 months, Fair Value	321,220	394,880
Greater than 12 months, Gross Unrealized Losses	(5,957)	(8,098)
Total, Fair Value	473,843	541,854
Total, Gross Unrealized Losses	(6,439)	(8,937)
Short-term debt securities | Foreign government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	0	0
Less than 12 Months, Gross Unrealized Losses	0	0
Greater than 12 months, Fair Value	7,559	7,540
Greater than 12 months, Gross Unrealized Losses	(165)	(255)
Total, Fair Value	7,559	7,540
Total, Gross Unrealized Losses	(165)	(255)
Long-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	36,077	100,235
Less than 12 Months, Gross Unrealized Losses	(232)	(905)
Greater than 12 months, Fair Value	355,935	471,619
Greater than 12 months, Gross Unrealized Losses	(16,162)	(25,980)
Total, Fair Value	392,012	571,854
Total, Gross Unrealized Losses	(16,394)	(26,885)
Long-term debt securities | U.S. agency securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	8,966	11,501
Less than 12 Months, Gross Unrealized Losses	(35)	(20)
Greater than 12 months, Fair Value	46,903	58,814
Greater than 12 months, Gross Unrealized Losses	(2,591)	(3,762)
Total, Fair Value	55,869	70,315
Total, Gross Unrealized Losses	(2,626)	(3,782)
Long-term debt securities | Corporate bonds
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	21,761	33,862
Less than 12 Months, Gross Unrealized Losses	(158)	(262)
Greater than 12 months, Fair Value	129,136	201,791
Greater than 12 months, Gross Unrealized Losses	(4,166)	(8,909)
Total, Fair Value	150,897	235,653
Total, Gross Unrealized Losses	(4,324)	(9,171)
Long-term debt securities | Municipal securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	471	467
Less than 12 Months, Gross Unrealized Losses	(29)	(33)
Greater than 12 months, Fair Value	8,909	8,784
Greater than 12 months, Gross Unrealized Losses	(501)	(631)
Total, Fair Value	9,380	9,251
Total, Gross Unrealized Losses	(530)	(664)
Long-term debt securities | U.S. government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	4,879	54,405
Less than 12 Months, Gross Unrealized Losses	(10)	(590)
Greater than 12 months, Fair Value	170,033	201,288
Greater than 12 months, Gross Unrealized Losses	(8,858)	(12,620)
Total, Fair Value	174,912	255,693
Total, Gross Unrealized Losses	(8,868)	(13,210)
Long-term debt securities | Foreign government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	0	0
Less than 12 Months, Gross Unrealized Losses	0	0
Greater than 12 months, Fair Value	954	942
Greater than 12 months, Gross Unrealized Losses	(46)	(58)
Total, Fair Value	954	942
Total, Gross Unrealized Losses	$ (46)	$ (58)

INVESTMENTS IN DEBT SECURITIE_4

INVESTMENTS IN DEBT SECURITIES - Contractual Maturities of Short-Term and Long-Term Investments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Amortized Cost
Due in one year or less	$ 1,039,183
Due in one to five years	429,093
Amortized Cost	1,468,276
Fair Value
Due in one year or less	1,024,110
Due in one to five years	412,747
Fair Value	$ 1,436,857

CUSTOMER FUNDS - Assets Underly

CUSTOMER FUNDS - Assets Underlying Customer Funds (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Customer funds	$ 3,800,473	$ 3,180,324
Cash
Debt Securities, Available-for-sale [Line Items]
Customer funds	2,403,642	1,748,983
Cash Equivalents | Money market funds
Debt Securities, Available-for-sale [Line Items]
Customer funds	737,522	851,296
Cash Equivalents | Reverse repurchase agreement
Debt Securities, Available-for-sale [Line Items]
Customer funds	$ 659,309	$ 580,045

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	$ 3,800,473	$ 3,180,324
Short-term debt securities	1,024,110	1,081,851
Long-term debt securities	412,747	573,429
Safeguarding asset related to bitcoin held for other parties	726,495	428,243
Safeguarding obligation liability related to bitcoin held for other parties	(726,495)	(428,243)
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable equity security	11,012	11,092
Safeguarding asset related to bitcoin held for other parties	0	0
Safeguarding obligation liability related to bitcoin held for other parties	0	0
Total assets (liabilities) measured at fair value	3,203,384	3,500,686
Fair Value, Measurements, Recurring | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	962,662	1,230,924
Restricted cash	118,780	0
Customer funds	737,522	851,296
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
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 | Reverse repurchase agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	659,309	580,045
Fair Value, Measurements, Recurring | Level 1 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	521,568	571,637
Long-term debt securities	192,531	255,692
Fair Value, Measurements, Recurring | Level 1 | Corporate bonds
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 | Certificates of deposit
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 | 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 | 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
Safeguarding asset related to bitcoin held for other parties	726,495	428,243
Safeguarding obligation liability related to bitcoin held for other parties	(726,495)	(428,243)
Total assets (liabilities) measured at fair value	722,758	860,954
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
Restricted cash	0	0
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	7,923
Short-term debt securities	120,297	94,441
Long-term debt securities	55,868	70,315
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	25,080
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. 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 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	358,258	360,637
Long-term debt securities	153,502	236,726
Fair Value, Measurements, Recurring | Level 2 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	2,500	6,400
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	7,461	31,503
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	6,467	9,693
Long-term debt securities	9,892	9,754
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	7,559	7,540
Long-term debt securities	954	942
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
Safeguarding asset related to bitcoin held for other parties	0	0
Safeguarding obligation liability related to bitcoin held for other parties	0	0
Total assets (liabilities) measured at fair value	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
Restricted cash	0	0
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
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 | 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. 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 3 | Corporate bonds
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 | Certificates of deposit
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 | 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 | 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 MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value and Carrying Value of Convertible Senior Notes (Details) - Level 2 - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	$ 4,572,895	$ 4,570,185
Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	4,055,115	3,989,994
2031 Senior Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	988,513	988,171
2031 Senior Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	814,189	782,857
2026 Senior Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	991,101	990,414
2026 Senior Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	902,239	885,876
2027 Convertible Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	568,863	568,535
2027 Convertible Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	437,763	433,082
2026 Convertible Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	569,734	569,315
2026 Convertible Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	469,689	464,066
2025 Convertible Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	994,145	993,394
2025 Convertible Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	958,713	943,188
2023 Convertible Notes | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	460,539	460,356
2023 Convertible Notes | Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible notes	$ 472,522	$ 480,925

FAIR VALUE MEASUREMENTS - Fai_2

FAIR VALUE MEASUREMENTS - Fair Value and Carrying Value of Loans Held for Sale (Details) - Level 3 - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	$ 476,754	$ 474,036
Loans held for investment	178,300	123,959
Total	655,054	597,995
Fair Value (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	492,735	491,807
Loans held for investment	182,344	126,122
Total	$ 675,079	$ 617,929

CONSUMER RECEIVABLES, NET - Nar

CONSUMER RECEIVABLES, NET - Narrative (Details) - Consumer Portfolio Segment - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Threshold period past due	60 days
Consumer receivables	$ 1,628,045	$ 2,022,450
Cash in transit	$ 137,300	$ 224,900
Percentage of cash in transit to total amortized cost of consumer receivables	8.40%	11.10%
Threshold period past due to consider amounts to be uncollectible	180 days
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Consumer receivables	$ 1,500,000
Classified
Financing Receivable, Credit Quality Indicator [Line Items]
Consumer receivables	$ 100,000
Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Payment period	14 days
Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Payment period	56 days

CONSUMER RECEIVABLES, NET - Agi

CONSUMER RECEIVABLES, NET - Aging Analysis (Details) - Consumer Portfolio Segment - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Consumer receivables	$ 1,628,045	$ 2,022,450
Non-delinquent loans
Financing Receivable, Past Due [Line Items]
Consumer receivables	1,330,642	1,643,874
1 - 60 days past due
Financing Receivable, Past Due [Line Items]
Consumer receivables	191,609	295,830
61 - 90 days past due
Financing Receivable, Past Due [Line Items]
Consumer receivables	40,249	20,612
90+ days past due
Financing Receivable, Past Due [Line Items]
Consumer receivables	$ 65,545	$ 62,134

CONSUMER RECEIVABLES, NET - Act

CONSUMER RECEIVABLES, NET - Activity in Allowance for Credit Losses (Details) - Consumer Portfolio Segment - USD ($) $ in Thousands	2 Months Ended	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, recorded from acquisition	$ 115,552	$ 151,290
Provision for credit losses	36,505	43,131
Charge-offs and other adjustments	(53,780)	(52,401)
Foreign exchange effect	11,547	(486)
Allowance for credit losses, end of the period	$ 109,824	$ 141,534

LOANS HELD FOR INVESTMENT (Deta

LOANS HELD FOR INVESTMENT (Details) - Loan Portfolio Segment - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Loans held for investment, net of allowance for loan losses	$ 178,300	$ 123,959
Threshold period past due	60 days
Nonperforming Financial Instruments
Financing Receivable, Past Due [Line Items]
Threshold period past due	90 days
Unlikely to be Collected Financing Receivable
Financing Receivable, Past Due [Line Items]
Threshold period past due	120 days
Pass
Financing Receivable, Past Due [Line Items]
Consumer receivables	$ 183,100

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - Afterpay Limited $ in Thousands, $ in Billions			3 Months Ended
	Feb. 01, 2022 USD ($)	Jan. 31, 2022 USD ($) shares	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Jan. 31, 2022 AUD ($)
Business Acquisition [Line Items]
Equity consideration (in shares) | shares		113,617,352
Equity consideration		$ 13,800,000
Acquisition cost expensed	$ 66,337		$ 66,300	$ 66,300
Acquired debt from acquisition		$ 1,058,065			$ 1.5

ACQUISITIONS - Assets Acquired

ACQUISITIONS - Assets Acquired and Liabilities Assumed (Details) $ in Thousands, $ in Billions			3 Months Ended
	Feb. 01, 2022 USD ($)	Jan. 31, 2022 USD ($) shares	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jan. 31, 2022 AUD ($)
Recognized amounts of identifiable assets acquired and liabilities assumed:
Goodwill			$ 11,919,274		$ 11,966,761
Afterpay Limited
Consideration:
Stock (113,617,352 shares of Class A common stock, excluding value accounted as post-combination expense of $66,337)		$ 13,827,929
Equity consideration (in shares) | shares		113,617,352
Acquisition cost expensed	$ 66,337		$ 66,300	$ 66,300
Cash paid to settle tax withholding in connection with replacement awards		$ 8,693
Total		13,836,622
Recognized amounts of identifiable assets acquired and liabilities assumed:
Current assets (inclusive of cash, cash equivalents, and restricted cash acquired)		653,709
Consumer receivables		1,245,508
Other non-current assets		74,232
Long-term debt - current		(1,058,065)				$ (1.5)
Current liabilities		(439,358)
Warehouse funding facilities		(107,996)
Deferred tax liabilities		(190,689)
Other non-current liabilities		(63,213)
Total identifiable net assets acquired		2,117,128
Goodwill		11,719,494
Total		13,836,622
Afterpay Limited | Intangible customer assets
Recognized amounts of identifiable assets acquired and liabilities assumed:
Intangible assets		1,378,000
Afterpay Limited | Intangible technology assets
Recognized amounts of identifiable assets acquired and liabilities assumed:
Intangible assets		239,000
Afterpay Limited | Intangible trade name
Recognized amounts of identifiable assets acquired and liabilities assumed:
Intangible assets		$ 386,000

ACQUIRED INTANGIBLE ASSETS - Sc

ACQUIRED INTANGIBLE ASSETS - Schedule of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 2,310,643	$ 2,321,295
Accumulated Amortization	(361,557)	(307,261)
Net	$ 1,949,086	$ 2,014,034	$ 2,275,199	$ 257,049
Technology assets
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life	5 years	5 years
Cost	$ 396,916	$ 398,665
Accumulated Amortization	(151,189)	(133,116)
Net	$ 245,727	$ 265,549
Customer assets
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life	15 years	15 years
Cost	$ 1,467,212	$ 1,474,163
Accumulated Amortization	(134,798)	(110,316)
Net	$ 1,332,414	$ 1,363,847
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life	9 years	9 years
Cost	$ 432,814	$ 434,766
Accumulated Amortization	(69,725)	(58,352)
Net	$ 363,089	$ 376,414
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life	9 years	9 years
Cost	$ 13,701	$ 13,701
Accumulated Amortization	(5,845)	(5,477)
Net	$ 7,856	$ 8,224

ACQUIRED INTANGIBLE ASSETS - Ch

ACQUIRED INTANGIBLE ASSETS - Change in Carrying Value of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Finite-lived Intangible Assets [Roll Forward]
Acquired intangible assets, net, beginning of the period	$ 2,014,034	$ 257,049
Acquisitions	0	2,025,000
Amortization expense	(55,595)	(42,160)
Foreign currency translation adjustments	(9,353)	35,310
Acquired intangible assets, net, end of the period	$ 1,949,086	$ 2,275,199

ACQUIRED INTANGIBLE ASSETS - Fu

ACQUIRED INTANGIBLE ASSETS - Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2023	$ 165,612
2024	217,392
2025	210,565
2026	196,498
2027	148,734
Thereafter	1,010,285
Net	$ 1,949,086	$ 2,014,034	$ 2,275,199	$ 257,049

OTHER CONSOLIDATED BALANCE SH_5

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Inventory, net	$ 101,655	$ 97,703
Restricted cash	414,267	639,780	$ 109,450
Processing costs receivable	305,935	298,568
Prepaid expenses	135,706	141,262
Accounts receivable, net	133,502	140,508
Other	157,845	185,485
Total	1,427,210	1,627,265
Loan Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, net of allowance for loan losses	$ 178,300	$ 123,959

OTHER CONSOLIDATED BALANCE SH_6

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Accrued expenses	$ 379,252		$ 382,571
Accounts payable	100,093		95,846
Customer deposits	155,494		141,893
Accrued transaction losses	62,085		64,539
Accrued royalties	58,538		63,684
Operating lease liabilities, current	$ 62,673		66,854
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total
Other	$ 248,068		258,129
Total	1,066,203		$ 1,073,516
Transaction Losses
Business Acquisition [Line Items]
Provisions for transaction losses realized and written-off within the same period	$ 70,000	$ 87,300

OTHER CONSOLIDATED BALANCE SH_7

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Reserve for Transaction Losses (Details) - Transaction Losses - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Loss Contingency Accrual [Roll Forward]
Accrued transaction losses, beginning of the period	$ 64,539	$ 55,167
Provision for transaction losses	24,942	20,721
Charge-offs to accrued transaction losses	(27,396)	(22,229)
Accrued transaction losses, end of the period	$ 62,085	$ 53,659

OTHER CONSOLIDATED BALANCE SH_8

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) (Details) - USD ($)		3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Acquired Indefinite-lived Intangible Assets [Line Items]
Property and equipment, net	$ 332,144,000		$ 329,302,000
Investment in non-marketable equity securities	205,225,000		208,880,000
Investment in bitcoin	102,479,000		102,303,000
Restricted cash	70,350,000	$ 71,702,000	71,600,000
Other	101,314,000		101,454,000
Total	811,512,000		$ 813,539,000
Bitcoin impairment losses		$ 0
Bitcoin accumulated impairment losses	117,700,000
Bitcoin
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible asset acquired	220,000,000
Fair value of bitcoin investment	228,700,000
Amount of fair value in excess of carrying value for bitcoin investment	$ 126,200,000

BITCOIN HELD FOR OTHER PARTIE_2

BITCOIN HELD FOR OTHER PARTIES (Details) $ in Thousands	Mar. 31, 2023 USD ($) bitcoin	Dec. 31, 2022 USD ($) bitcoin
Platform Operator, Crypto-Asset [Line Items]
Approximate number of bitcoin held for customers | bitcoin	25,507	25,850
Approximate number of bitcoin held for trading partners | bitcoin	3	62
Total approximate number of bitcoin held for other parties | bitcoin	25,510	25,912
Safeguarding obligation liability related to bitcoin held for other parties	$ 726,495	$ 428,243
Safeguarding asset related to bitcoin held for other parties	726,495	428,243
Crypto-Asset, Held For Customers
Platform Operator, Crypto-Asset [Line Items]
Safeguarding obligation liability related to bitcoin held for other parties	726,397	427,221
Crypto-Asset, Held For Partners
Platform Operator, Crypto-Asset [Line Items]
Safeguarding obligation liability related to bitcoin held for other parties	$ 98	$ 1,022

INDEBTEDNESS - Net Carrying Amo

INDEBTEDNESS - Net Carrying Amount of Convertible Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Convertible Debt
Debt Instrument [Line Items]
Principal Outstanding	$ 4,610,630	$ 4,610,630
Unamortized Debt Issuance Costs	(37,736)	(40,445)
Net Carrying Value	4,572,895	4,570,185
2031 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal Outstanding	1,000,000	1,000,000
Unamortized Debt Issuance Costs	(11,487)	(11,829)
Net Carrying Value	988,513	988,171
2026 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal Outstanding	1,000,000	1,000,000
Unamortized Debt Issuance Costs	(8,899)	(9,586)
Net Carrying Value	991,101	990,414
2027 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Principal Outstanding	575,000	575,000
Unamortized Debt Issuance Costs	(6,137)	(6,465)
Net Carrying Value	568,863	568,535
2026 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Principal Outstanding	575,000	575,000
Unamortized Debt Issuance Costs	(5,266)	(5,685)
Net Carrying Value	569,734	569,315
2025 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Principal Outstanding	1,000,000	1,000,000
Unamortized Debt Issuance Costs	(5,856)	(6,606)
Net Carrying Value	994,145	993,394
2023 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Principal Outstanding	460,630	460,630
Unamortized Debt Issuance Costs	(91)	(274)
Net Carrying Value	$ 460,539	$ 460,356

INDEBTEDNESS - Interest Expense

INDEBTEDNESS - Interest Expense on Convertible Notes (Details) - Convertible Debt - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Debt Instrument [Line Items]
Contractual interest expense	$ 16,495	$ 16,466
Amortization of debt issuance costs	2,710	2,703
Total	$ 19,205	$ 19,169

INDEBTEDNESS - Convertible Note

INDEBTEDNESS - Convertible Notes Narrative (Details) - Convertible Debt - USD ($) $ in Thousands	3 Months Ended	58 Months Ended
	Mar. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Nov. 13, 2020	Mar. 05, 2020	May 25, 2018
Debt Instrument [Line Items]
Principal outstanding	$ 4,610,630	$ 4,610,630	$ 4,610,630
2026 and 2027 Notes
Debt Instrument [Line Items]
Aggregate principal amount				$ 1,150,000
2026 Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount				$ 575,000
Interest rate				0%
Principal outstanding	575,000	575,000	575,000
2027 Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount				$ 575,000
Interest rate				0.25%
Principal outstanding	575,000	575,000	575,000
2025 Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount					$ 1,000,000
Interest rate					0.125%
Principal outstanding	1,000,000	1,000,000	1,000,000
2023 Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 862,500
Interest rate						0.50%
Notes converted		401,900
Principal outstanding	$ 460,630	$ 460,630	$ 460,630
Shares issued upon conversion (in shares)	0	5,200,000

INDEBTEDNESS - Convertible No_2

INDEBTEDNESS - Convertible Note Hedge and Warrant Transactions Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	58 Months Ended
	May 25, 2018	Mar. 31, 2023	Mar. 31, 2023
Convertible Debt
Debt Instrument [Line Items]
Conversion price of convertible debt (in USD per share)	$ 77.85
Conversion price of convertible debt after effect of warrants and note hedge (in USD per share)	$ 109.26
Common Stock Warrant, 2023 Notes
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)	11,100,000
Warrants, weighted average exercise price (in USD per share)	$ 109.26
Proceeds from issuance of warrants	$ 112.1
Shares of common stock received due to exercise of note hedges (in shares)		0	3,000,000
Options Held
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)	11,100,000
Convertible note hedge, option to purchase common stock, price (in USD per share)	$ 77.85
Cost of convertible note hedge	$ 172.6

INDEBTEDNESS - Facility Narrati

INDEBTEDNESS - Facility Narrative (Details) - USD ($)		1 Months Ended
	Feb. 23, 2022	May 31, 2020	Mar. 31, 2023	Dec. 31, 2022	Jan. 28, 2021	Nov. 09, 2020	May 28, 2020
Line of Credit | Paycheck Protection Program Liquidity Facility
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 1,000,000,000		$ 500,000,000
Convertible Debt
Debt Instrument [Line Items]
Principal outstanding			$ 4,610,630,000	$ 4,610,630,000
Revolving Credit Facility | Line of Credit | 2020 Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 500,000,000
Increase limit	$ 100,000,000
Debt covenant, minimum quarterly liquidity amount		$ 250,000,000
Unused commitment fee percentage		0.15%
Amounts drawn to date			0
Letters of credit outstanding			0
Remaining borrowing capacity			600,000,000
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 | Federal Funds Rate | Senior Unsecured Revolving Credit Facility, Tranche B Loans
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | Line of Credit | Federal Funds Rate | Minimum | Senior Unsecured Revolving Credit Facility, Tranche B Loans
Debt Instrument [Line Items]
Additional basis spread on variable rate	0.25%
Revolving Credit Facility | Line of Credit | Federal Funds Rate | Maximum | Senior Unsecured Revolving Credit Facility, Tranche B Loans
Debt Instrument [Line Items]
Additional basis spread on variable rate	0.75%
Revolving Credit Facility | Line of Credit | LIBOR | 2020 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate		1%
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 | Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Senior Unsecured Revolving Credit Facility, Tranche B Loans
Debt Instrument [Line Items]
Basis spread on variable rate	1%
Revolving Credit Facility | Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum | Senior Unsecured Revolving Credit Facility, Tranche B Loans
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 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum | Senior Unsecured Revolving Credit Facility, Tranche B Loans
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Additional basis spread on variable rate	0.75%
Revolving Credit Facility | Line of Credit | Prime Rate | Senior Unsecured Revolving Credit Facility, Tranche B Loans
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | Line of Credit | Prime Rate | Minimum | Senior Unsecured Revolving Credit Facility, Tranche B Loans
Debt Instrument [Line Items]
Additional basis spread on variable rate	0.25%
Revolving Credit Facility | Line of Credit | Prime Rate | Maximum | Senior Unsecured Revolving Credit Facility, Tranche B Loans
Debt Instrument [Line Items]
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
Line of Credit | Secured Debt | Warehouse Funding Facilities
Debt Instrument [Line Items]
Maximum borrowing capacity			1,700,000,000
Remaining borrowing capacity			1,000,000,000
Principal outstanding			$ 700,000,000

INDEBTEDNESS - Amounts Drawn on

INDEBTEDNESS - Amounts Drawn on Facilities by Year of Maturity (Details) - Secured Debt - Warehouse Funding Facilities - Line of Credit $ in Thousands	Mar. 31, 2023 USD ($)
Debt Instrument [Line Items]
2023	$ 305,195
2024	384,998
Net Carrying Value	$ 690,193

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax benefit	$ 2,056	$ 1,702

STOCKHOLDERS' EQUITY - Preferre

STOCKHOLDERS' EQUITY - Preferred Stock, Common Stock, Warrants, Conversion of Convertible Notes and Exercise Convertible Note Hedges Narrative (Details)	3 Months Ended	58 Months Ended
	Mar. 31, 2023 vote shares	Mar. 31, 2023 shares	Nov. 13, 2020 $ / shares shares	Mar. 05, 2020 $ / shares shares	May 25, 2018 $ / shares shares
2023 Convertible Notes | Convertible Debt
Class of Stock [Line Items]
Shares issued upon conversion (in shares)	0	5,200,000
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
Warrants term	60 days	60 days
Number of warrants exercised (in shares)	0	0
Shares of common stock received due to exercise of note hedges (in shares)	0	3,000,000
Common Stock Warrant, 2025 Notes
Class of Stock [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)				8,300,000
Warrants, weighted average exercise price (in USD per share) | $ / shares				$ 161.34
Warrants term	60 days	60 days
Number of warrants exercised (in shares)	0	0
Common Stock Warrant, 2026 Notes
Class of Stock [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)			1,900,000
Warrants, weighted average exercise price (in USD per share) | $ / shares			$ 368.16
Warrants term	60 days	60 days
Number of warrants exercised (in shares)	0	0
Common Stock Warrant, 2027 Notes
Class of Stock [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)			1,900,000
Warrants, weighted average exercise price (in USD per share) | $ / shares			$ 414.18
Warrants term	60 days	60 days
Number of warrants exercised (in shares)	0	0
Class A
Class of Stock [Line Items]
Common stock, number of votes entitled for each share held (in votes) | vote	1
Class B
Class of Stock [Line Items]
Common stock, number of votes entitled for each share held (in votes) | vote	10

STOCKHOLDERS' EQUITY - Stock Pl

STOCKHOLDERS' EQUITY - Stock Plans and Share Based Compensation Narrative (Details) $ in Thousands			3 Months Ended
	Feb. 01, 2022 USD ($)	Nov. 17, 2015 shares	Mar. 31, 2023 USD ($) plan shares	Mar. 31, 2022 USD ($)
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 | $			$ 279,591	$ 275,423
Capitalized share-based compensation expense | $			5,900	3,900
Unrecognized compensation cost | $			$ 2,500,000
Unrecognized compensation cost, period for recognition			2 years 8 months 12 days
Afterpay Limited
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Acquisition cost expensed | $	$ 66,337		$ 66,300	66,300
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plan, compensation expense | $			$ 21,100	$ 13,000
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)			3,065,728
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance (in shares)			145,593,622
Shares reserved for future issuance (in shares)		30,000,000
Shares reserved for future issuance, percentage of annual increase		5%
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)			30,267,337
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, shares in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Dec. 31, 2022
Number of Stock Options
Outstanding, beginning of the year (in shares)	6,739
Granted (in shares)	225
Exercised (in shares)	(712)
Forfeited (in shares)	(7)
Expired (in shares)	(4)
Outstanding, end of the period (in shares)	6,241
Weighted Average Exercise Price
Beginning balance (in USD per share)	$ 40.37
Granted (in USD per share)	74.50
Exercised (in USD per share)	9.58
Forfeited (in USD per share)	29.62
Expired (in USD per share)	126.99
Ending balance (in USD per share)	$ 45.07		$ 40.37
Additional Disclosures
Exercisable, end of the period (in shares)	5,148
Exercisable, end of the period, weighted average exercise price (in USD per share)	$ 32.60
Outstanding, weighted average remaining contractual term	3 years 10 months 28 days	4 years 7 days
Exercisable, end of the period, weighted average remaining contractual term	3 years 1 month 13 days
Outstanding, aggregate intrinsic value	$ 213,706		$ 224,484
Exercisable, end of the period, aggregate intrinsic value	$ 209,832

STOCKHOLDERS' EQUITY - Restrict

STOCKHOLDERS' EQUITY - Restricted Stock Awards and Restricted Stock Units Activity (Details) - RSAs and RSUs shares in Thousands	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Shares
Unvested, beginning of the year (in shares) | shares	28,300
Granted (in shares) | shares	2,035
Vested (in shares) | shares	(2,642)
Forfeited (in shares) | shares	(601)
Unvested, end of the period (in shares) | shares	27,092
Weighted Average Grant Date Fair Value
Unvested, beginning of the period (in USD per share) | $ / shares	$ 97.89
Granted (in USD per share) | $ / shares	80.71
Vested (in USD per share) | $ / shares	97.68
Forfeited (in USD per share) | $ / shares	110.75
Unvested, end of the period (in USD per share) | $ / shares	$ 96.33

STOCKHOLDERS' EQUITY - Effects

STOCKHOLDERS' EQUITY - Effects of Share-Based Compensation on Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 279,591	$ 275,423
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	142	109
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	197,857	145,075
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	29,365	21,256
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 52,227	$ 108,983

NET LOSS PER SHARE - Calculatio

NET LOSS PER SHARE - Calculation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net loss	$ (19,326)	$ (207,363)
Less: Net loss attributable to noncontrolling interests	(2,488)	(3,164)
Net loss attributable to common stockholders, basic	(16,838)	(204,199)
Net loss attributable to common stockholders, diluted	$ (16,838)	$ (204,199)
Basic shares:
Weighted-average shares used to compute basic net loss per share (in shares)	602,234	541,435
Diluted shares:
Weighted-average shares used to compute diluted net loss per share (in shares)	602,234	541,435
Weighted-average shares used to compute net loss per share attributable to common stockholders:
Basic (in USD per share)	$ (0.03)	$ (0.38)
Diluted (in USD per share)	$ (0.03)	$ (0.38)

NET LOSS PER SHARE - Antidiluti

NET LOSS PER SHARE - Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net loss per share (in shares)	78,032	83,801
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 loss per share (in shares)	36,819	23,402
Convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net loss per share (in shares)	18,025	18,038
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net loss per share (in shares)	23,188	42,361

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Thousands		1 Months Ended
	Dec. 31, 2023 USD ($)	Jul. 31, 2019 renewal_option	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Operating lease right-of-use assets			$ 344,229	$ 373,172
Forecast
Related Party Transaction [Line Items]
Operating lease, option to terminate leased space (up to)	0.48
Operating lease, option to terminate leased space termination amount	$ 5,200
Maximum
Related Party Transaction [Line Items]
Operating lease, option to terminate leased space (up to)		0.50
Affiliated Entity | Operating Lease Agreement
Related Party Transaction [Line Items]
Operating lease term		15 years 6 months
Operating lease, number of renewal options | renewal_option		2
Operating lease renewal term		5 years
Operating lease right-of-use assets			10,900
Operating lease liability			$ 17,700

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Future Minimum Payments under the Purchase Commitments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2023	$ 229,148
2024	300,554
2025	316,425
2026	263,300
2027	315,100
Total	$ 1,424,527

SEGMENT AND GEOGRAPHICAL INFO_3

SEGMENT AND GEOGRAPHICAL INFORMATION - Narrative (Details)	3 Months Ended
	Mar. 31, 2023 segment
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
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 4,990,131	$ 3,960,645
Gross Profit	1,714,584	1,294,960
Amortization of customer and other acquired intangible assets	37,087	26,664
Corporate and Other
Segment Reporting Information [Line Items]
Revenue	50,592	54,598
Gross Profit	13,069	10,080
Cash App | Operating Segments
Segment Reporting Information [Line Items]
Revenue	3,272,305	2,462,343
Gross Profit	931,240	623,659
Cash App | Operating Segments | Technology assets
Segment Reporting Information [Line Items]
Amortization of customer and other acquired intangible assets	8,500	7,000
Square | Operating Segments
Segment Reporting Information [Line Items]
Revenue	1,667,234	1,443,704
Gross Profit	770,275	661,221
Square | Operating Segments | Technology assets
Segment Reporting Information [Line Items]
Amortization of customer and other acquired intangible assets	8,600	7,000
Transaction-based revenue
Segment Reporting Information [Line Items]
Revenue	1,422,705	1,232,969
Revenue	1,422,705	1,232,969
Transaction-based revenue | Corporate and Other
Segment Reporting Information [Line Items]
Revenue	0	0
Transaction-based revenue | Cash App | Operating Segments
Segment Reporting Information [Line Items]
Revenue	134,663	109,241
Transaction-based revenue | Square | Operating Segments
Segment Reporting Information [Line Items]
Revenue	1,288,042	1,123,728
Subscription and services-based revenue
Segment Reporting Information [Line Items]
Revenue	1,038,613	724,745
Revenue	1,366,224	959,557
Subscription and services-based revenue | Corporate and Other
Segment Reporting Information [Line Items]
Revenue	50,592	54,598
Subscription and services-based revenue | Cash App | Operating Segments
Segment Reporting Information [Line Items]
Revenue	973,891	622,309
Subscription and services-based revenue | Square | Operating Segments
Segment Reporting Information [Line Items]
Revenue	341,741	282,650
Hardware revenue
Segment Reporting Information [Line Items]
Revenue	37,451	37,326
Revenue	37,451	37,326
Hardware revenue | Corporate and Other
Segment Reporting Information [Line Items]
Revenue	0	0
Hardware revenue | Cash App | Operating Segments
Segment Reporting Information [Line Items]
Revenue	0	0
Hardware revenue | Square | Operating Segments
Segment Reporting Information [Line Items]
Revenue	37,451	37,326
Bitcoin revenue
Segment Reporting Information [Line Items]
Revenue	2,163,751	1,730,793
Revenue	2,163,751	1,730,793
Bitcoin revenue | Corporate and Other
Segment Reporting Information [Line Items]
Revenue	0	0
Bitcoin revenue | Cash App | Operating Segments
Segment Reporting Information [Line Items]
Revenue	2,163,751	1,730,793
Bitcoin revenue | Square | Operating Segments
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0

SEGMENT AND GEOGRAPHICAL INFO_5

SEGMENT AND GEOGRAPHICAL INFORMATION - Reconciliation of Total Segment Profit to Loss before applicable Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting [Abstract]
Total segment gross profit	$ 1,714,584	$ 1,294,960
Less: Product development	626,937	458,224
Less: Sales and marketing	496,011	501,562
Less: General and administrative	432,825	444,149
Less: Transaction, loan, and consumer receivable losses	127,896	91,150
Less: Amortization of customer and other intangible assets	37,087	26,664
Less: Interest expense (income), net	(3,161)	15,748
Less: Other expense (income), net	18,371	(33,472)
Loss before income tax	$ (21,382)	$ (209,065)

SEGMENT AND GEOGRAPHICAL INFO_6

SEGMENT AND GEOGRAPHICAL INFORMATION - Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 4,990,131	$ 3,960,645
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	4,664,635	3,721,597
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 325,496	$ 239,048

SEGMENT AND GEOGRAPHICAL INFO_7

SEGMENT AND GEOGRAPHICAL INFORMATION - Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 14,544,733	$ 14,683,269
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	7,960,049	8,023,535
Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	4,700,189	4,801,434
Other international
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 1,884,495	$ 1,858,300

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION - Supplemental Cash Flow Data (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Supplemental cash flow data:
Cash paid for interest	$ 16,680	$ 2,725
Cash paid for income taxes	18,652	1,611
Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease obligations	518	26,090
Purchases of property and equipment in accounts payable and accrued expenses	6,580	16,338
Fair value of common stock issued related to business combinations	0	(13,827,929)
Fair value of common stock issued to settle the conversion of convertible notes	0	(2,496)
Fair value of common stock shares received to settle convertible note hedges	$ 0	$ 133,141