← Block, Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | ($171.6m) | ($62.8m) | ($38.5m) | $375.4m | $213.1m | $166.3m | ($540.7m) | $9.8m | $2.9b | $1.3b | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($171.6m) | ($62.8m) | ($38.5m) | $375.4m | $213.1m | $166.3m | ($540.7m) | $9.8m | $2.9b | $1.3b | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | — | — | — | ($7.5m) | ($12.3m) | ($30.9m) | ($30.6m) | ($1.4m) | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | $158.8m | ($553.0m) | ($21.1m) | $2.9b | $1.3b | |
| Amortization | $9.0m | $7.6m | — | — | — | — | — | — | $68.4m | $56.9m | |
| Amortization of Intangible Assets | $850k | $883k | — | — | — | — | $138.8m | $174.0m | $154.7m | $135.7m | |
| Amortization of discounts and premiums and other non-cash adjustments | — | — | — | — | $76.1m | $31.1m | ($592.5m) | ($984.4m) | ($1.1b) | ($1.1b) | |
| Capitalized Computer Software, Amortization | $7.1m | $6.6m | $10.6m | $18.9m | $19.8m | $33.4m | — | — | — | — | |
| Depreciation | $28.7m | $29.7m | $46.8m | $60.6m | $65.0m | $94.2m | $131.5m | $172.8m | $153.1m | $177.0m | |
| Depreciation, Depletion and Amortization | $37.7m | $37.3m | $61.0m | $75.6m | $84.2m | $134.8m | $340.5m | $408.6m | $376.1m | $369.5m | |
| Change in deferred income taxes | $58k | ($1.4m) | ($646k) | ($1.4m) | ($8.0m) | ($10.4m) | ($69.6m) | ($85.9m) | ($1.7b) | $335.0m | |
| Deferred Income Tax Expense (Benefit) | $58k | ($1.4m) | ($646k) | ($1.4m) | ($8.0m) | ($10.4m) | ($69.6m) | ($85.9m) | ($1.7b) | $335.0m | |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | — | — | — | — | — | — | — | — | $34.9m | $0 | |
| Goodwill and Intangible Asset Impairment | $0 | $0 | — | — | — | — | $0 | $132.3m | $133.9m | $0 | |
| Goodwill, Impairment Loss | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $132.3m | $73.5m | — | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | — | — | — | — | $71.1m | $46.6m | $0 | $0 | $0 | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | $44.7m | $189.1m | $212.3m | $314.0m | $323.0m | $4.7m | $0 | $0 | — | |
| Share-based Payment Arrangement, Expense | $138.8m | $155.8m | $216.9m | $297.9m | $397.5m | $608.0m | $1.1b | $1.3b | $1.3b | $1.2b | |
| Share-based Payment Arrangement, Noncash Expense | $138.8m | $155.8m | $216.9m | $297.9m | $397.8m | $608.0m | $1.1b | $1.3b | $1.3b | $1.2b | |
| Share-based compensation | $138.8m | $155.8m | $216.9m | $297.9m | $397.8m | $608.0m | $1.1b | $1.3b | $1.3b | $1.2b | |
| Gain (Loss) on Disposition of Property Plant Equipment | $49k | — | — | — | — | — | — | — | — | — | |
| Gain (Loss) on Extinguishment of Debt | — | — | ($5.0m) | $0 | ($6.7m) | $0 | $0 | — | — | — | |
| Income Tax Expense (Benefit) | $1.9m | $149k | $2.3m | $2.8m | $2.9m | ($1.4m) | ($12.3m) | ($8.0m) | ($1.5b) | $385.7m | |
| Loss (gain) on revaluation of equity investments | $0 | $0 | ($20.3m) | $12.3m | ($295.3m) | ($35.5m) | ($73.5m) | $16.5m | ($32.2m) | ($172.3m) | |
| Operating Lease, Expense | — | — | — | — | $75.2m | $80.3m | $93.6m | $75.8m | $52.1m | $58.2m | |
| Other Nonoperating Income (Expense) | — | — | $18.5m | ($273k) | $291.7m | $29.5m | $95.4m | $202.5m | $53.2m | $166.8m | |
| Additional Financial Items | |||||||||||
| Noncash investing and financing activities: | |||||||||||
| Change in customer funds, restricted from use in the Company's operations | — | — | — | $342.3m | $1.4b | $793.2m | $349.3m | ($9.9m) | $1.0b | $589.0m | |
| Crypto Asset Realized Gain Loss Nonoperating | — | — | — | — | — | — | — | — | $420.9m | ($55.9m) | |
| Customers payable | $172.4m | $301.8m | $15.6m | $523.8m | $1.7b | $171.6m | $1.1b | $1.3b | ($1.9b) | $373.9m | |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | — | — | — | $373.4m | $0 | $0 | — | — | — | — | |
| Equity Securities, FV-NI, Gain (Loss) | $0 | $0 | $20.3m | ($12.3m) | $295.3m | $35.5m | $73.5m | ($16.5m) | $32.2m | $172.3m | |
| Equity Securities, FV-NI, Realized Gain (Loss) | $0 | $0 | ($20.3m) | $12.3m | $276.3m | $44.4m | ($73.5m) | $16.5m | ($32.2m) | ($172.3m) | |
| Gain (Loss) on Sale of Financing Receivable | — | — | — | — | — | — | $164.3m | $196.1m | $236.8m | $255.8m | |
| General and Administrative Expense | $252.0m | $250.6m | $339.2m | $436.2m | $579.2m | $983.3m | $1.7b | $2.2b | $2.1b | $2.0b | |
| Goodwill | $57.2m | $58.3m | $261.7m | $266.3m | $316.7m | $519.3m | $12.0b | $11.9b | $11.4b | $11.8b | |
| Investment Income, Interest | — | — | — | — | $18.3m | $25.0m | — | $126.6m | $156.2m | $127.1m | |
| Net increase in interest-bearing deposits | — | — | — | $0 | $0 | $59.8m | $82.0m | $25.1m | $74.9m | $55.5m | |
| Non-cash lease expense | — | $0 | $0 | $29.7m | $70.3m | $83.1m | $129.8m | $144.2m | $72.1m | $56.7m | |
| Nonoperating Income (Expense) | $780k | ($8.5m) | — | — | — | — | — | — | — | — | |
| Operating Expenses | $746.5m | $893.5m | $1.3b | — | — | — | — | — | — | — | |
| Other assets and liabilities | — | $2.7m | ($27.6m) | ($47.5m) | ($186.8m) | ($62.0m) | ($369.6m) | ($379.3m) | $121.4m | ($568.4m) | |
| Payments for Repurchase of Warrants | — | $54.8m | $0 | $0 | — | — | — | — | — | — | |
| Payments for originations of consumer receivables | — | — | — | — | $0 | $0 | ($18.4b) | ($24.0b) | ($29.3b) | ($32.1b) | |
| Payments to redeem convertible notes | $0 | $0 | ($219.4m) | $0 | $0 | $0 | ($1.1b) | ($461.8m) | $0 | ($1.0b) | |
| Prepaid expenses | — | — | — | — | — | — | — | $40.5m | ($28.6m) | ($159.4m) | |
| Proceeds from issuance of senior notes | — | — | — | $0 | $0 | $2.0b | $0 | $0 | $2.0b | $2.2b | |
| Proceeds from principal repayments and sales of consumer receivables | — | — | — | — | $0 | $0 | $18.2b | $24.2b | $29.9b | $32.9b | |
| Proceeds from repayments of loans originally classified as held for investment | — | — | — | — | — | — | — | $0 | $0 | $14.1b | |
| Proceeds from repayments of loans originally classified as held for sale | — | — | — | — | — | — | — | $8.0b | $14.4b | $14.2b | |
| Proceeds from the exercise of stock options and purchases under the employee stock purchase plan | $96.4m | $162.5m | $133.8m | $118.5m | $162.0m | $126.7m | $81.8m | $130.4m | $154.8m | $88.9m | |
| Proceeds from warehouse facilities borrowings | — | — | — | — | $0 | $0 | $1.6b | $1.4b | $1.3b | $1.3b | |
| Provision for Loan, Lease, and Other Losses | — | — | — | $127.0m | $177.7m | $188.0m | $550.7m | $660.7m | $794.2m | $1.3b | |
| Purchases and originations of loans originally classified as held for sale | — | — | — | — | — | — | — | ($8.6b) | ($15.2b) | ($14.2b) | |
| Purchases of marketable debt securities | ($164.8m) | ($544.9m) | ($1.0b) | ($992.6m) | ($1.3b) | ($2.7b) | ($755.7m) | ($1.1b) | ($1.2b) | ($700.8m) | |
| Purchases of property and equipment, accrued but unpaid | $25.4m | $26.1m | $61.2m | $62.5m | $138.4m | $134.3m | $170.8m | $151.2m | $153.9m | $155.0m | |
| Remeasurement loss (gain) on bitcoin investment | — | — | — | — | — | — | $0 | ($207.1m) | ($420.9m) | $55.9m | |
| Repayments of warehouse facilities borrowings | — | — | — | — | $0 | $0 | ($391.5m) | ($1.1b) | ($1.3b) | ($1.5b) | |
| Settlements payable | $38.0m | $63.6m | ($60.7m) | $41.7m | $143.5m | $15.2m | $207.9m | ($454.0m) | ($8.1m) | ($330k) | |
| Settlements receivable | ($178.4m) | ($305.8m) | $245.8m | ($248.3m) | ($473.9m) | ($346.2m) | ($1.5b) | ($1.1b) | $1.9b | ($487.3m) | |
| Transaction, loan, and consumer receivable losses | — | $67.0m | $88.1m | $127.0m | $177.7m | $188.0m | $550.7m | $660.7m | $794.2m | $1.3b | |
| Net Cash Provided by (Used in) Operating Activities | $23.1m | $127.7m | $295.1m | $465.7m | $381.6m | $847.8m | $175.9m | $101.0m | $1.7b | $2.6b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $25.4m | $26.1m | $61.2m | $62.5m | $138.4m | $134.3m | $170.8m | $151.2m | $153.9m | $155.0m | |
| Payments to Acquire Businesses, Net of Cash Acquired | $1.4m | $1.9m | $112.4m | $20.4m | $79.2m | $164.0m | — | $5.0m | — | — | |
| Purchases and originations of loans originally classified as held for investment | — | — | — | — | — | — | — | $0 | $0 | ($17.6b) | |
| Purchases of other investments | — | ($25.0m) | $0 | ($15.2m) | ($51.3m) | ($48.5m) | ($56.7m) | ($33.9m) | ($53.9m) | ($64.6m) | |
| Net Cash Provided by (Used in) Investing Activities | ($122.7m) | ($340.6m) | ($905.8m) | $95.2m | ($606.6m) | ($1.3b) | $1.2b | $683.2m | $650.0m | ($2.8b) | |
| Cash flows from financing activities: | |||||||||||
| Payments of debt issuance costs from issuance of senior notes | $0 | $0 | — | — | — | — | $0 | $0 | ($26.6m) | ($28.3m) | |
| Proceeds from Issuance of Long-term Debt | $0 | — | — | — | — | — | — | — | — | — | |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | $43.2m | $168.2m | $197.5m | $430.9m | $607.1m | $831.0m | $999.6m | $1.4b | $1.0b | $469.0m | |
| Proceeds from maturities of marketable debt securities | $43.2m | $168.2m | $197.5m | $430.9m | $607.1m | $831.0m | $999.6m | $1.4b | $1.0b | $469.0m | |
| Proceeds from sale of marketable debt securities | $34.2m | $89.1m | $172.0m | $548.6m | $585.4m | $617.1m | $449.7m | $339.1m | $446.1m | $409.4m | |
| Repayments of Long-term Debt | $0 | $0 | — | — | — | — | — | — | — | — | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | — | — | $156.8m | $1.2b | $2.3b | |
| Repurchases of common stock | — | — | — | — | — | $0 | $0 | ($156.8m) | ($1.2b) | ($2.3b) | |
| Other financing activities | — | ($1.4m) | ($4.8m) | ($5.1m) | ($7.4m) | ($9.9m) | ($87.7m) | ($20.0m) | ($18.5m) | ($35.3m) | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | ($5.1m) | ($7.4m) | ($9.9m) | ($87.7m) | ($20.0m) | ($18.5m) | ($35.3m) | |
| Net Cash Provided by (Used in) Financing Activities | $90.7m | $454.9m | $515.8m | ($98.9m) | $2.3b | $2.7b | $97.6m | ($240.1m) | $2.0b | ($613.1m) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($438k) | $4.3m | ($7.2m) | $3.8m | $13.0m | ($7.1m) | ($38.4m) | $29.2m | ($88.5m) | $86.1m | |
| Effect of foreign exchange rate on cash and cash equivalents | ($438k) | $4.3m | ($7.2m) | $3.8m | $13.0m | ($7.1m) | ($38.4m) | $29.2m | ($88.5m) | $86.1m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($438k) | $246.3m | ($102.2m) | $465.9m | $2.1b | $2.2b | $1.5b | $573.2m | $4.2b | ($749.2m) | |
| Net increase (decrease) in cash, cash equivalents, restricted cash, and customer funds | ($807k) | $246.3m | ($102.2m) | $465.9m | $2.1b | $2.2b | $1.5b | $573.2m | $4.2b | ($749.2m) | |
| Cash and cash equivalents | $452.0m | — | — | $1.0b | $3.2b | $4.4b | $4.5b | $5.0b | $8.1b | $6.6b | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($807k) | $735.1m | $632.8m | $1.1b | $3.2b | $7.0b | $8.4b | $9.0b | $13.2b | $12.5b | |
| Cash, cash equivalents, restricted cash, and customer funds, beginning of the period | $488.7m | $735.1m | $632.8m | $1.1b | $3.2b | $7.0b | $8.4b | $9.0b | $13.2b | $12.5b | |
| Customer funds cash and cash equivalents | — | — | — | $438.3m | $1.6b | $2.4b | $3.2b | $3.2b | $4.2b | $4.8b | |
| Long-term restricted cash | — | — | — | $12.7m | $13.5m | $71.7m | $71.6m | $71.8m | $69.9m | $73.8m | |
| Short-term restricted cash | — | — | — | $38.9m | $30.3m | $18.8m | $639.8m | $770.4m | $902.5m | $1.1b | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | $4.1m | $5.7m | $3.9m | $40.4m | $84.9m | $130.0m | $205.8m | $246.3m | |
| Income Taxes Paid, Net | — | — | — | — | — | — | — | — | — | $129.4m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.