
	March 31, 2021		December 31, 2020
Short term investment in marketable equity security (i)	$	328,384	$	—
Inventory, net	63,825		61,129
Restricted cash	32,891		30,279
Processing costs receivable	203,837		148,606
Prepaid expenses	53,879		34,279
Accounts receivable, net	60,201		41,960
Other	80,589		66,814
Total	$	823,606	$	383,067

(i) In December 2020, upon completion of DoorDash Inc's ("DoorDash") initial public offering, the shares of preferred stock held by the Company converted into Class A common stock of DoorDash. The investment is carried at fair value, with changes in fair value being recorded within other income or expense on the condensed consolidated statement of operations. As of March 31, 2021, the investment was reclassified from non-current assets to current assets. Additionally, during the three months ended March 31, 2021, the Company recorded a loss of $28.9 million arising from the revaluation of the investment.


	March 31, 2021		December 31, 2020
Accrued expenses	$	174,037	$	126,710
Square Payroll payable (i)	57,807		16,990
Accrued transaction losses (ii)	48,622		70,557
Accounts payable	51,354		47,089
Deferred revenue, current	47,598		44,908
Current portion of long-term debt	4,687		—
Other	64,519		54,596
Total	$	448,624	$	360,850

(i) Square Payroll payable represents amounts received from Square Payroll product customers that will be utilized to settle the customers' employee payroll and related obligations.

(ii) The Company is exposed to potential credit losses related to transactions processed by sellers that are subsequently subject to chargebacks when the Company is unable to collect from the sellers primarily due to insolvency. Generally, the Company estimates the potential loss rates based on historical experience that is continuously adjusted for new information and incorporates, where applicable, reasonable and supportable forecasts about future expectations.


	Three Months Ended March 31,
	2021		2020
Accrued transaction losses, beginning of the period	$	70,557	$	34,771
Provision for transaction losses	(6,742)		79,303
Charge-offs to accrued transaction losses	(15,193)		(17,413)
Accrued transaction losses, end of the period	$	48,622	$	96,661

In addition to amounts reflected in the table above, the Company recognized additional provision for transaction losses that were realized and written-off within the same period. The Company recorded $82.1 million and $38.8 million for the three months ended March 31, 2021 and 2020, respectively, for such losses.


	March 31, 2021		December 31, 2020
Investment in non-marketable equity securities (i)	$	54,980	$	32,510
Investment in marketable equity security (ii)	—		376,258
Investment in bitcoin, net (iii)	200,140		50,000
Restricted cash	63,509		13,526
Other	33,427		26,956
Total	$	352,056	$	499,250

(i) Investment in non-marketable equity securities represents the Company's investments in equity of non-public entities. These investments are measured using the measurement alternative and are therefore carried at cost, less impairment, adjusted for observable price changes.

(ii) As of March 31, 2021, the fair value of the Company's investment in DoorDash was reclassified to other current assets.

(iii) The Company invested $50.0 million and $170.0 million in bitcoin in the fourth quarter of 2020 and the first quarter of 2021, respectively. Bitcoin is accounted for as an indefinite lived intangible asset, and thus, is subject to impairment losses if the fair value of bitcoin decreases below the carrying value during the assessed period. Impairment losses cannot be recovered for any subsequent increase in fair value until the sale of the asset.

The Company recorded an impairment charge of $19.9 million in the three months ended March 31, 2021 due to the observed market price of bitcoin decreasing below the carrying value during the period. As of March 31, 2021, the fair value of the investment in bitcoin was $472.0 million based on observable market prices which is $271.9 million in excess of the Company's carrying value of $200.1 million.

(i) Statutory liabilities represent loss contingencies that may arise from the Company's interpretation and application of certain guidelines and rules issued by various federal, state, local, and foreign regulatory authorities.