SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Reporting Information, by Segment

Information on the reportable segments revenue and segment gross profit are as follows (in thousands):

	Three Months Ended March 31, 2022
	Cash App		Square		Corporate and Other (i)		Total
Revenue:
Transaction-based revenue	$	109,241	$	1,123,728	$	—	$	1,232,969
Subscription and services-based revenue	622,309		282,650		54,598		959,557
Hardware revenue	—		37,326		—		37,326
Bitcoin revenue	1,730,793		—		—		1,730,793
Segment revenue (ii)	$	2,462,343	$	1,443,704	$	54,598	$	3,960,645
Segment gross profit (iii)	$	623,659	$	661,221	$	10,080	$	1,294,960

	Three Months Ended March 31, 2021
	Cash App		Square		Corporate and Other (i)		Total
Revenue:
Transaction-based revenue	$	91,959	$	867,774	$	—	$	959,733
Subscription and services-based revenue	436,589		121,092		—		557,681
Hardware revenue	—		28,788		—		28,788
Bitcoin revenue	3,511,068		—		—		3,511,068
Segment revenue	$	4,039,616	$	1,017,654	$	—	$	5,057,270
Segment gross profit	$	495,485	$	468,016	$	—	$	963,501

(i) Corporate and other represents results related to products and services that are not assigned to a specific reportable segment. Comparable prior period amounts have not been disclosed as they were not material.

(ii) The revenue for both Cash App and Square for the three months ended March 31, 2022 includes $64.9 million each from Afterpay post-acquisition results.

(iii) The gross profit for both Cash App and Square for the three months ended March 31, 2022 includes $46.1 million each from Afterpay post-acquisition results.

Reconciliation of Total Segment Profit to Income before applicable Income Taxes

A reconciliation of total segment gross profit to the Company’s income (loss) before applicable income taxes is as follows (in thousands):

	Three Months Ended March 31,
	2022		2021
Total segment gross profit	$	1,294,960	$	963,501
Less: Product development	484,761		310,141
Less: Sales and marketing	501,562		349,460
Less: General and administrative	444,276		195,909
Less: Transaction, loan, and consumer receivable losses	91,150		20,395
Less: Bitcoin impairment losses	—		19,860
Less: Interest expense, net	15,748		253
Less: Other expense (income), net	(33,472)		27,528
Income (loss) before applicable income taxes	$	(209,065)	$	39,955

Revenue by Geographic Area

Revenue by geography is based on the addresses of the sellers or customers. The following table sets forth revenue by geographic area (in thousands):

	Three Months Ended March 31,
	2022		2021
United States	$	3,721,597	$	4,963,335
International	239,048		93,935
Total net revenue	$	3,960,645	$	5,057,270

Long-lived Assets by Geographic Area

The following table sets forth long-lived assets by geographic area (in thousands):

	March 31, 2022		December 31, 2021
United States	$	8,250,330	$	1,426,103
Australia	5,008,040		26,680
Other international	2,203,920		55,088
Total long-lived assets	$	15,462,290	$	1,507,871