Block Inc
For the period ended Dec 31, 2024. Filed Feb 24, 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 24, 2025
XYZ$85.58-3.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $2,866,497 | $(21,124) | $(553,005) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 376,127 | 408,560 | 340,523 |
| Amortization of discounts and premiums and other non-cash adjustments | (1,099,024) | (984,442) | (592,489) |
| Non-cash lease expense | 72,055 | 144,198 | 129,811 |
| Share-based compensation | 1,272,779 | 1,276,097 | 1,071,278 |
| Loss (gain) on revaluation of equity investments | (32,245) | 16,523 | (73,457) |
| Remeasurement gain on bitcoin investment | (420,918) | (207,084) | — |
| Transaction, loan, and consumer receivable losses | 794,221 | 660,663 | 550,683 |
| Bitcoin impairment losses | — | — | 46,571 |
| Change in deferred income taxes | (1,665,812) | (85,879) | (69,593) |
| Goodwill and intangible asset impairment | 133,853 | 132,313 | — |
| Changes in operating assets and liabilities: | |||
| Settlements receivable | 1,947,849 | (1,108,529) | (1,499,057) |
| Purchases and originations of loans | (15,210,746) | (8,586,293) | (6,114,847) |
| Proceeds from payments and forgiveness of loans | 14,413,277 | 8,032,687 | 6,040,369 |
| Customers payable | (1,853,872) | 1,256,578 | 1,060,861 |
| Settlements payable | (8,139) | (454,036) | 207,894 |
| Other assets and liabilities | 121,448 | (379,271) | (369,639) |
| Net cash provided by operating activities | 1,707,350 | 100,961 | 175,903 |
| Cash flows from investing activities: | |||
| Purchases of marketable debt securities | (1,197,804) | (1,126,615) | (755,697) |
| Proceeds from maturities of marketable debt securities | 1,005,580 | 1,387,830 | 999,569 |
| Proceeds from sale of marketable debt securities | 446,076 | 339,095 | 449,723 |
| Proceeds from maturities of marketable debt securities from customer funds | — | — | 73,000 |
| Proceeds from sale of marketable debt securities from customer funds | — | — | 316,576 |
| Payments for originations of consumer receivables | (29,318,390) | (23,968,787) | (18,361,871) |
| Proceeds from principal repayments and sales of consumer receivables | 29,922,371 | 24,241,651 | 18,192,470 |
| Purchases of property and equipment | (153,947) | (151,151) | (170,815) |
| Purchases of other investments | (53,934) | (38,822) | (56,712) |
| Business combinations, net of cash acquired | — | — | 539,453 |
| Net cash provided by investing activities | 649,952 | 683,201 | 1,225,696 |
CONSOLIDATED STATEMENTS OF CASH FLOWS - Continued
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from financing activities: | |||
| Proceeds from issuance of senior notes | 2,000,000 | — | — |
| Payments of debt issuance costs from issuance of senior notes | (26,619) | — | — |
| Repayments of Paycheck Protection Program Liquidity Facility advances | — | (16,840) | (480,694) |
| Payments to redeem convertible notes | — | (461,761) | (1,071,788) |
| Proceeds from warehouse facilities borrowings | 1,255,745 | 1,387,662 | 1,620,805 |
| Repayments of warehouse facilities borrowings | (1,329,729) | (1,118,083) | (391,463) |
| Proceeds from the exercise of stock options and purchases under the employee stock purchase plan | 154,779 | 130,433 | 81,768 |
| Payments for tax withholding related to vesting of restricted stock units | — | — | (4,735) |
| Net increase in interest-bearing deposits | 74,856 | 25,135 | 82,049 |
| Repurchases of common stock | (1,170,339) | (156,812) | — |
| Other financing activities | (18,473) | (19,977) | (87,692) |
| Change in customer funds, restricted from use in the Company's operations | 1,012,442 | (9,894) | 349,330 |
| Net cash provided by (used in) financing activities | 1,952,662 | (240,137) | 97,580 |
| Effect of foreign exchange rate on cash and cash equivalents | (88,539) | 29,156 | (38,363) |
| Net increase in cash, cash equivalents, restricted cash, and customer funds | 4,221,425 | 573,181 | 1,460,816 |
| Cash, cash equivalents, restricted cash, and customer funds, beginning of the period | 9,009,087 | 8,435,906 | 6,975,090 |
| Cash, cash equivalents, restricted cash, and customer funds, end of the period | $13,230,512 | $9,009,087 | $8,435,906 |
| Reconciliation of cash, cash equivalents, restricted cash, and customer funds: | |||
| Cash and cash equivalents | $8,075,247 | $4,996,465 | $4,544,202 |
| Short-term restricted cash | 902,478 | 770,380 | 639,780 |
| Long-term restricted cash | 69,915 | 71,812 | 71,600 |
| Customer funds cash and cash equivalents | 4,182,872 | 3,170,430 | 3,180,324 |
| Total | $13,230,512 | $9,009,087 | $8,435,906 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.