Block, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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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.
FY2025 · Filed Feb 26, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $1,304,210 | $2,866,497 | $(21,124) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 369,529 | 376,127 | 408,560 |
| Amortization of discounts and premiums and other non-cash adjustments | (1,137,906) | (1,099,024) | (984,442) |
| Non-cash lease expense | 56,687 | 72,055 | 144,198 |
| Share-based compensation | 1,215,480 | 1,272,779 | 1,276,097 |
| Loss (gain) on revaluation of equity investments | (172,256) | (32,245) | 16,523 |
| Remeasurement loss (gain) on bitcoin investment | 55,900 | (420,918) | (207,084) |
| Transaction, loan, and consumer receivable losses | 1,337,246 | 794,221 | 660,663 |
| Change in deferred income taxes | 335,038 | (1,665,812) | (85,879) |
| Goodwill and intangible asset impairment | — | 133,853 | 132,313 |
| Purchases and originations of loans originally classified as held for sale | (14,191,399) | (15,210,746) | (8,586,293) |
| Proceeds from repayments of loans originally classified as held for sale | 14,248,689 | 14,413,277 | 8,032,687 |
| Changes in operating assets and liabilities: | |||
| Settlements receivable | (487,316) | 1,947,849 | (1,108,529) |
| Customers payable | 373,925 | (1,853,872) | 1,256,578 |
| Settlements payable | (330) | (8,139) | (454,036) |
| Prepaid expenses | (159,364) | (28,573) | 40,492 |
| Other assets and liabilities | (568,419) | 150,021 | (419,763) |
| Net cash provided by operating activities | 2,579,714 | 1,707,350 | 100,961 |
| Cash flows from investing activities: | |||
| Purchases of marketable debt securities | (700,777) | (1,197,804) | (1,126,615) |
| Proceeds from maturities of marketable debt securities | 468,980 | 1,005,580 | 1,387,830 |
| Proceeds from sale of marketable debt securities | 409,387 | 446,076 | 339,095 |
| Payments for originations of consumer receivables | (32,145,232) | (29,318,390) | (23,968,787) |
| Proceeds from principal repayments and sales of consumer receivables | 32,934,204 | 29,922,371 | 24,241,651 |
| Purchases and originations of loans originally classified as held for investment | (17,629,689) | — | — |
| Proceeds from repayments of loans originally classified as held for investment | 14,080,787 | — | — |
| Purchases of property and equipment | (155,038) | (153,947) | (151,151) |
| Purchases of other investments | (64,554) | (53,934) | (38,822) |
| Net cash provided by (used in) investing activities | (2,801,932) | 649,952 | 683,201 |
CONSOLIDATED STATEMENTS OF CASH FLOWS - Continued
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from financing activities: | |||
| Proceeds from issuance of senior notes | 2,200,000 | 2,000,000 | — |
| Payments of debt issuance costs from issuance of senior notes | (28,346) | (26,619) | — |
| Payments to redeem convertible notes | (1,000,624) | — | (461,761) |
| Proceeds from warehouse facilities borrowings | 1,305,288 | 1,255,745 | 1,387,662 |
| Repayments of warehouse facilities borrowings | (1,456,869) | (1,329,729) | (1,118,083) |
| Proceeds from the exercise of stock options and purchases under the employee stock purchase plan | 88,943 | 154,779 | 130,433 |
| Net increase in interest-bearing deposits | 55,548 | 74,856 | 25,135 |
| Repurchases of common stock | (2,330,661) | (1,170,339) | (156,812) |
| Other financing activities | (35,330) | (18,473) | (36,817) |
| Change in customer funds, restricted from use in the Company's operations | 588,952 | 1,012,442 | (9,894) |
| Net cash provided by (used in) financing activities | (613,099) | 1,952,662 | (240,137) |
| Effect of foreign exchange rate on cash and cash equivalents | 86,081 | (88,539) | 29,156 |
| Net increase (decrease) in cash, cash equivalents, restricted cash, and customer funds | (749,236) | 4,221,425 | 573,181 |
| Cash, cash equivalents, restricted cash, and customer funds, beginning of the period | 13,230,512 | 9,009,087 | 8,435,906 |
| Cash, cash equivalents, restricted cash, and customer funds, end of the period | $12,481,276 | $13,230,512 | $9,009,087 |
| Reconciliation of cash, cash equivalents, restricted cash, and customer funds: | |||
| Cash and cash equivalents | $6,564,092 | $8,075,247 | $4,996,465 |
| Short-term restricted cash | 1,071,574 | 902,478 | 770,380 |
| Long-term restricted cash | 73,786 | 69,915 | 71,812 |
| Customer funds cash and cash equivalents | 4,771,824 | 4,182,872 | 3,170,430 |
| Total | $12,481,276 | $13,230,512 | $9,009,087 |
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