PayPal Holdings, Inc.
For the period ended Sep 30, 2026. Filed Oct 27, 2026.
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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, 2026 · Filed Oct 27, 2026
PYPL$58.78-2.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| (In millions) | ||
| (Unaudited) | ||
| Cash flows from operating activities: | ||
| Net income (loss) | $3,290 | $3,796 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Transaction and credit losses | 1,161 | 1,330 |
| Depreciation and amortization | 735 | 729 |
| Stock-based compensation | 767 | 792 |
| Deferred income taxes | (90) | 93 |
| Net (gains) losses on strategic investments | 181 | (69) |
| Accretion of discounts on investments, net of amortization of premiums | (21) | (77) |
| Adjustments to loans and interest receivable, held for sale | 206 | 122 |
| Other | 116 | (245) |
| Originations of loans receivable, held for sale | (36,426) | (24,040) |
| Proceeds from repayments and sales of loans receivable, originally classified as held for sale | 35,558 | 23,160 |
| Changes in assets and liabilities: | ||
| Accounts receivable | 124 | 11 |
| Transaction loss allowance for cash losses, net | (980) | (1,074) |
| Other current assets and non-current assets | 178 | (371) |
| Accounts payable | (53) | (6) |
| Other current liabilities and non-current liabilities | (37) | (119) |
| Net cash provided by operating activities | 4,709 | 4,032 |
| Cash flows from investing activities: | ||
| Purchases of reverse repurchase agreements | (10) | (201) |
| Maturities of reverse repurchase agreements | 10 | 288 |
| Purchases of property and equipment | (600) | (658) |
| Proceeds from sales of property and equipment | 21 | 3 |
| Purchases and originations of loans receivable | (12,322) | (15,904) |
| Proceeds from repayments and sales of loans receivable, originally classified as held for investment | 11,662 | 15,945 |
| Purchases of investments | (18,555) | (15,951) |
| Maturities and sales of investments | 14,218 | 19,027 |
| Acquisitions, net of cash acquired | (122) | — |
| Funds receivable | (416) | (1,232) |
| Collateral posted related to derivative instruments, net | 134 | (207) |
| Other | — | (15) |
| Net cash provided by (used in) investing activities | (5,980) | 1,095 |
| Cash flows from financing activities: | ||
| Borrowings from repurchase agreements | 27 | 2,949 |
| Repayments of repurchase agreements | (27) | (2,949) |
| Proceeds from issuance of common stock | 60 | 74 |
| Purchases of treasury stock | (4,553) | (4,551) |
| Tax withholdings related to net share settlements of equity awards | (238) | (317) |
| Borrowings under financing arrangements | 3,924 | 2,237 |
| Repayments under financing arrangements | (2,100) | (1,954) |
| Funds payable and amounts due to customers | 508 | 663 |
| Collateral received related to derivative instruments and reverse repurchase agreements, net | 129 | (155) |
| Payments of dividends to stockholders | (370) | — |
| Other | (6) | (6) |
| Net cash used in financing activities | (2,646) | (4,009) |
| 3Q 2026 FORM 10-Q | 9 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS—(continued)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| (In millions) | ||
| (Unaudited) | ||
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (12) | 245 |
| Net change in cash, cash equivalents, and restricted cash | (3,929) | 1,363 |
| Cash, cash equivalents, and restricted cash at beginning of period | 24,018 | 22,490 |
| Cash, cash equivalents, and restricted cash at end of period | $20,089 | $23,853 |
| Supplemental cash flow disclosures: | ||
| Cash paid for interest | $230 | $210 |
| Cash paid for income taxes, net | $420 | $1,033 |
| The table below reconciles cash, cash equivalents, and restricted cash as reported in the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows: | ||
| Cash and cash equivalents | $7,160 | $8,995 |
| Funds receivable and customer accounts | 12,929 | 14,858 |
| Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows | $20,089 | $23,853 |
| 3Q 2026 FORM 10-Q | 10 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.