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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 6,269 $ 5,206
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of customer incentives 826 782
Depreciation and amortization 441 383
(Gains) losses on equity investments, net 7 89
Share-based compensation 263 243
Deferred income taxes (93) 24
Other 80 37
Changes in operating assets and liabilities:    
Accounts receivable (234) (268)
Settlement assets (284) (108)
Prepaid expenses (1,980) (1,286)
Accrued litigation and legal settlements (197) (20)
Restricted security deposits held for customers (73) 155
Accounts payable 9 (287)
Settlement obligations 199 31
Accrued expenses (415) (707)
Net change in other assets and liabilities (8) 343
Net cash provided by operating activities 4,810 4,617 Close
Investing Activities    
Purchases of investment securities available-for-sale (219) (157)
Purchases of investments held-to-maturity (81) (31)
Proceeds from sales of investment securities available-for-sale 58 45
Proceeds from maturities of investment securities available-for-sale 139 102
Proceeds from maturities of investments held-to-maturity 306 91
Purchases of property and equipment (272) (190)
Capitalized software (402) (395)
Purchases of equity investments (18) (53)
Proceeds from sales of equity investments 23 44
Other investing activities (2) (71)
Net cash used in investing activities (468) (615) Close
Financing Activities    
Purchases of treasury stock (4,631) (5,294)
Dividends paid (1,231) (1,086)
Proceeds from debt, net 983 1,550
Payment of debt (1,000) 0
Tax withholdings related to share-based payments (174) (79)
Cash proceeds from exercise of stock options 115 172
Other financing activities 0 3
Net cash used in financing activities (5,938) (4,734) Close
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents (67) 57 Close
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents (1,663) (675) 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 $ 8,802 $ 8,521