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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income $ 3,011 $ 2,361
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of customer incentives 411 378
Depreciation and amortization 216 191
(Gains) losses on equity investments, net (6) 212
Share-based compensation 108 108
Deferred income taxes 3 (129)
Other 32 2
Changes in operating assets and liabilities:    
Accounts receivable (219) (38)
Settlement assets (417) 35
Prepaid expenses (1,490) (761)
Accrued litigation and legal settlements (127) 9
Restricted security deposits held for customers 16 40
Accounts payable (21) (184)
Settlement obligations 430 (241)
Accrued expenses (446) (506)
Net change in other assets and liabilities 171 442
Net cash provided by operating activities 1,672 1,919 Close
Investing Activities    
Purchases of investment securities available-for-sale (95) (50)
Purchases of investments held-to-maturity (66) (26)
Proceeds from sales of investment securities available-for-sale 22 4
Proceeds from maturities of investment securities available-for-sale 67 51
Proceeds from maturities of investments held-to-maturity 284 24
Purchases of property and equipment (157) (110)
Capitalized software (221) (242)
Purchases of equity investments (8) (22)
Proceeds from sales of equity investments 0 44
Other investing activities 0 (70)
Net cash used in investing activities (174) (397) Close
Financing Activities    
Purchases of treasury stock (1,992) (2,878)
Dividends paid (616) (545)
Proceeds from debt, net 0 1,489
Tax withholdings related to share-based payments (170) (76)
Cash proceeds from exercise of stock options 97 53
Other financing activities 0 2
Net cash used in financing activities (2,681) (1,955) Close
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents (95) 37 Close
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents (1,278) (396) Close
Cash, cash equivalents, restricted cash and restricted cash equivalents - beginning of period 10,465 9,196
Cash, cash equivalents, restricted cash and restricted cash equivalents - end of period $ 9,187 $ 8,800