Mastercard Inc

For the period ended Sep 30, 2025. Filed Oct 30, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 30, 2025

MA$658.84+0.5%Stored close · as of Nov 10, 2026

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Contents

Consolidated Balance Sheets — September 30, 2025 and

PART I

Consolidated Balance Sheets (Unaudited)
	September 30, 2025	December 31, 2024
(in millions, except per share data)
Assets
Current assets:
Cash and cash equivalents	$10,313	$8,442
Restricted cash and restricted cash equivalents	478	492
Restricted security deposits held for customers	2,054	1,874
Investments	335	330
Accounts receivable	4,247	3,773
Settlement assets	1,842	1,821
Prepaid expenses and other current assets	3,954	2,992
Total current assets	23,223	19,724
Property, equipment and right-of-use assets, net of accumulated depreciation and amortization of $2,656 and $2,393, respectively	2,299	2,138
Deferred income taxes	1,546	1,614
Goodwill	9,574	9,193
Other intangible assets, net of accumulated amortization of $2,927 and $2,400, respectively	5,591	5,453
Other assets	11,056	9,959
Total Assets	$53,289	$48,081
Liabilities and Equity
Current liabilities:
Accounts payable	$935	$929
Settlement obligations	2,422	2,316
Restricted security deposits held for customers	2,054	1,874
Accrued litigation	943	930
Accrued expenses	11,979	10,393
Short-term debt	—	750
Other current liabilities	2,360	2,028
Total current liabilities	20,693	19,220
Long-term debt	18,983	17,476
Deferred income taxes	326	317
Other liabilities	5,368	4,553
Total Liabilities	45,370	41,566
Commitments and Contingencies
Stockholders’ Equity
Class A common stock, $0.0001 par value; authorized 3,000 shares, 1,405 and 1,404 shares issued and 893 and 907 shares outstanding, respectively	—	—
Class B common stock, $0.0001 par value; authorized 1,200 shares, 7 shares issued and outstanding	—	—
Additional paid-in-capital	6,757	6,442
Class A treasury stock, at cost, 512 and 497 shares, respectively	(79,670)	(71,431)
Retained earnings	81,752	72,907
Accumulated other comprehensive income (loss)	(935)	(1,433)
Mastercard Incorporated Stockholders' Equity	7,904	6,485
Non-controlling interests	15	30
Total Equity	7,919	6,515
Total Liabilities and Equity	$53,289	$48,081

8 MASTERCARD SEPTEMBER 30, 2025 FORM 10-Q

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.