Mastercard Inc
For the period ended Dec 31, 2024. Filed Feb 12, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 12, 2025
MA$658.84+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
PART II
| Consolidated Statements of Cash Flows | |||
|---|---|---|---|
| For the Years Ended December 31, | |||
| 2024 | 2023 | 2022 | |
| (in millions) | |||
| Operating Activities | |||
| Net income | $12,874 | $11,195 | $9,930 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Amortization of customer incentives | 1,830 | 1,622 | 1,586 |
| Depreciation and amortization | 897 | 799 | 750 |
| (Gains) losses on equity investments, net | 29 | 61 | 145 |
| Share-based compensation | 526 | 460 | 295 |
| Deferred income taxes | (527) | (236) | (651) |
| Other | 191 | 22 | 44 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 186 | (546) | (481) |
| Income taxes receivable | (165) | (171) | 12 |
| Settlement assets | (593) | 40 | 48 |
| Prepaid expenses | (3,225) | (2,438) | (2,175) |
| Accrued litigation and legal settlements | 205 | (375) | 240 |
| Restricted security deposits held for customers | 29 | 277 | (305) |
| Accounts payable | 75 | (99) | 190 |
| Settlement obligations | 922 | 282 | 201 |
| Accrued expenses | 1,587 | 571 | 1,188 |
| Long-term taxes payable | (163) | (129) | (121) |
| Net change in other assets and liabilities | 102 | 645 | 299 |
| Net cash provided by operating activities | 14,780 | 11,980 | 11,195 |
| Investing Activities | |||
| Purchases of investment securities available-for-sale | (508) | (300) | (267) |
| Purchases of investments held-to-maturity | (108) | (347) | (239) |
| Proceeds from sales of investment securities available-for-sale | 199 | 87 | 54 |
| Proceeds from maturities of investment securities available-for-sale | 262 | 191 | 211 |
| Proceeds from maturities of investments held-to-maturity | 378 | 157 | 265 |
| Purchases of property and equipment | (474) | (371) | (442) |
| Capitalized software | (720) | (717) | (655) |
| Purchases of equity investments | (42) | (89) | (88) |
| Proceeds from sales of equity investments | 125 | 44 | 7 |
| Acquisition of businesses, net of cash acquired | (2,511) | — | (313) |
| Other investing activities | (3) | (6) | (3) |
| Net cash used in investing activities | (3,402) | (1,351) | (1,470) |
| Financing Activities | |||
| Purchases of treasury stock | (11,035) | (9,032) | (8,753) |
| Dividends paid | (2,448) | (2,158) | (1,903) |
| Proceeds from debt, net | 3,960 | 1,554 | 1,123 |
| Payment of debt | (1,336) | — | (724) |
| Tax withholdings related to share-based payments | (178) | (89) | (141) |
| Cash proceeds from employee stock plans | 224 | 237 | 90 |
| Other financing activities | (23) | — | (20) |
| Net cash used in financing activities | (10,836) | (9,488) | (10,328) |
| Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | (199) | 128 | (103) |
| Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents | 343 | 1,269 | (706) |
| Cash, cash equivalents, restricted cash and restricted cash equivalents - beginning of period | 10,465 | 9,196 | 9,902 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents - end of period | $10,808 | $10,465 | $9,196 |
| The accompanying notes are an integral part of these consolidated financial statements. | |||
MASTERCARD 2024 FORM 10-K 70
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