OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) (Tables)

3 Months Ended

Mar. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Other Current Assets

The following table presents the detail of other current assets (in thousands):

	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.

Schedule of Accrued Expenses and Other Current Liabilities

The following table presents the detail of accrued expenses and other current liabilities (in thousands):    

	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.

The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands):

	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

Schedule of Reserve for Transaction Losses

The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands):

	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