Coinbase Global Inc
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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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.
FY2023 · Filed Feb 15, 2024
COIN$132.13-2.9%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, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net income (loss) | $94,871 | $(2,624,949) | $3,624,120 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 139,642 | 154,069 | 63,651 |
| Other impairment expense | 18,793 | 26,518 | 500 |
| Investment impairment expense | 29,375 | 101,445 | — |
| Stock-based compensation expense | 780,668 | 1,565,823 | 820,685 |
| Restructuring stock-based compensation expense | 84,042 | — | — |
| Provision for transaction losses and doubtful accounts | 11,059 | (13,051) | 22,390 |
| Deferred income taxes | (216,334) | (468,035) | (558,329) |
| Unrealized loss (gain) on foreign exchange | 17,190 | 28,516 | (14,944) |
| Non-cash lease expense | 40,429 | 31,123 | 34,542 |
| (Gain) loss on investments | (50,121) | 3,056 | (20,138) |
| Fair value (gain) loss on derivatives | (41,033) | 7,410 | (32,056) |
| Gain on extinguishment of long-term debt, net | (117,383) | — | — |
| Crypto asset impairment expense | 96,783 | 757,257 | 329,152 |
| Crypto assets received as revenue | (460,878) | (470,591) | (1,015,920) |
| Crypto asset payments for expenses | 298,255 | 383,221 | 815,783 |
| Realized gain on crypto assets | (145,594) | (36,666) | (178,234) |
| Other operating activities, net | 16,981 | 883 | 5,532 |
| Net changes in operating assets and liabilities | 326,206 | (1,031,448) | 141,438 |
| Net cash provided by (used in) operating activities | 922,951 | (1,585,419) | 4,038,172 |
| Cash flows from investing activities | |||
| Capitalized internal-use software development costs | (63,202) | (61,038) | (22,073) |
| Business combinations, net of cash acquired | (30,730) | (186,150) | (70,911) |
| Purchase of investments | (11,822) | (63,048) | (326,513) |
| Purchase of assembled workforce | — | — | (60,800) |
| Loans originated | (586,691) | (207,349) | (336,189) |
| Proceeds from repayment of loans | 513,698 | 327,539 | 124,520 |
| Assets pledged as collateral | (27,899) | (41,630) | — |
| Assets pledged as collateral returned | 68,338 | — | — |
| Settlement of crypto futures contract | (43,339) | — | — |
| Purchase of crypto assets held | (277,367) | (1,400,032) | (3,009,086) |
| Disposal of crypto assets held | 461,325 | 969,185 | 2,574,032 |
| Other investing activities, net | 3,081 | (1,299) | 2,280 |
| Net cash provided by (used in) investing activities | 5,392 | (663,822) | (1,124,740) |
| Cash flows from financing activities | |||
| Issuance of common stock upon exercise of stock options, net of repurchases | 47,944 | 51,497 | 217,064 |
| Taxes paid related to net share settlement of equity awards | (277,798) | (351,867) | (262,794) |
| Proceeds received under the ESPP | 16,297 | 20,848 | 19,889 |
| Customer custodial cash liabilities | (274,822) | (5,562,558) | 6,691,859 |
| Issuance of convertible senior notes, net | — | — | 1,403,753 |
| Issuance of senior notes, net | — | — | 1,976,011 |
| Purchase of capped calls | — | — | (90,131) |
| Repayment of long-term debt | (303,533) | — | — |
| Assets received as collateral | 66,014 | — | — |
| Assets received as collateral returned | (64,952) | — | — |
| Proceeds from short-term borrowings | 31,640 | 190,956 | 20,000 |
| Repayments of short-term borrowings | (52,122) | (191,073) | — |
| Other financing activities | — | 3,679 | 433 |
| Net cash (used in) provided by financing activities | (811,332) | (5,838,518) | 9,976,084 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 117,011 | (8,087,759) | 12,889,516 |
| Effect of exchange rates on cash, cash equivalents, and restricted cash | 8,772 | (163,257) | (64,883) |
| Cash, cash equivalents, and restricted cash, beginning of period | 9,429,646 | 17,680,662 | 4,856,029 |
| Cash, cash equivalents, and restricted cash, end of period | $9,555,429 | $9,429,646 | $17,680,662 |
| Supplemental disclosure of cash flow information | |||
| Cash paid during the period for interest | $76,142 | $82,399 | $3,793 |
| Cash paid during the period for income taxes | 39,122 | 35,888 | 68,614 |
| Operating cash outflows for amounts included in the measurement of operating lease liabilities | 14,730 | 14,528 | 20,061 |
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