Financial Accounting Project (PAYPAL & SQUARE)

SQ10-K.xlsx

Home >Business & Finance homework help >Accounting homework help >Financial Accounting Project (PAYPAL & SQUARE)

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Feb. 18, 2021	Jun. 30, 2020
Class of Stock [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-37622
Entity Registrant Name	SQUARE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0429876
Entity Address, Address Line One	1455 Market Street
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94103
City Area Code	415
Local Phone Number	375-3176
Title of 12(b) Security	Class A Common Stock, $0.0000001 par value per share
Trading Symbol	SQ
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 38.7
Documents Incorporated by Reference	Portions of the registrant’s Definitive Proxy Statement relating to the Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant’s fiscal year ended December 31, 2020.
Entity Central Index Key	0001512673
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		389,826,763
Class B
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		64,787,897

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 3,158,058	$ 1,047,118
Investments in short-term debt securities	695,112	492,456
Settlements receivable	1,024,895	588,692
Customer funds	2,037,832	676,292
Loans held for sale	462,665	164,834
Other current assets	383,067	250,409
Total current assets	7,761,629	3,219,801
Property and equipment, net	233,520	149,194
Goodwill	316,701	266,345
Acquired intangible assets, net	137,612	69,079
Investments in long-term debt securities	463,950	537,303
Operating lease right-of-use assets	456,888	113,148
Other non-current assets	499,250	196,388
Total assets	9,869,550	4,551,258
Current liabilities:
Customers payable	3,009,051	1,273,135
Settlements payable	239,362	95,834
Accrued expenses and other current liabilities	360,850	297,841
Operating lease liabilities, current	52,747	27,275
PPP Liquidity Facility advances	464,094	0
Total current liabilities	4,126,104	1,694,085
Long-term debt	2,586,924	938,832
Operating lease liabilities, non-current	389,662	108,830
Other non-current liabilities	85,291	94,461
Total liabilities	7,187,981	2,836,208
Commitments and contingencies (Note 18)
Stockholders’ equity:
Preferred stock, $0.0000001 par value: 100,000,000 shares authorized at December 31, 2020 and December 31, 2019. None issued and outstanding at December 31, 2020 and December 31, 2019.	0	0
Additional paid-in capital	2,955,464	2,223,749
Accumulated other comprehensive income	23,328	1,629
Accumulated deficit	(297,223)	(510,328)
Total stockholders’ equity	2,681,569	1,715,050
Total liabilities and stockholders’ equity	9,869,550	4,551,258
Class A
Stockholders’ equity:
Common stock	0	0
Class B
Stockholders’ equity:
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Preferred stock, par value (in USD per share)	$ 0.00	$ 0.00
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A
Common stock, par value (in USD per share)	$ 0.00	$ 0.00
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	390,187,079	352,386,562
Common stock, shares outstanding (in shares)	390,187,079	352,386,562
Class B
Common stock, par value (in USD per share)	$ 0.00	$ 0.00
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	65,997,697	80,410,158
Common stock, shares outstanding (in shares)	65,997,697	80,410,158

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue:
Revenue	$ 9,497,578	$ 4,713,500	$ 3,298,177
Cost of Revenue [Abstract]
Cost of revenue	143,901	136,385	94,114
Total cost of revenue	6,764,169	2,823,815	1,994,477
Gross profit	2,733,409	1,889,685	1,303,700
Operating expenses:
Product development	881,826	670,606	497,479
Sales and marketing	1,109,670	624,832	411,151
General and administrative	579,203	436,250	339,245
Transaction and loan losses	177,670	126,959	88,077
Total operating expenses	2,752,224	1,863,128	1,340,314
Operating income (loss)	(18,815)	26,557	(36,614)
Gain on sale of asset group	0	(373,445)	0
Interest expense, net	56,943	21,516	17,982
Other expense (income), net	(291,725)	273	(18,469)
Income (loss) before income tax	215,967	378,213	(36,127)
Provision for income taxes	2,862	2,767	2,326
Net income (loss)	$ 213,105	$ 375,446	$ (38,453)
Net income (loss) per share:
Basic (in USD per share)	$ 0.48	$ 0.88	$ (0.09)
Diluted (in USD per share)	$ 0.44	$ 0.81	$ (0.09)
Weighted-average shares used to compute net income (loss) per share:
Basic (in shares)	443,126	424,999	405,731
Diluted (in shares)	482,167	466,076	405,731
Transaction-based revenue
Revenue:
Revenue	$ 3,294,978	$ 3,081,074	$ 2,471,451
Cost of Revenue [Abstract]
Cost of revenue	1,911,848	1,937,971	1,558,562
Subscription and services-based revenue
Revenue:
Revenue	1,447,188	883,922	499,010
Revenue	1,539,403	1,031,456	591,706
Cost of Revenue [Abstract]
Cost of revenue	222,712	234,270	169,884
Hardware revenue
Revenue:
Revenue	91,654	84,505	68,503
Bitcoin revenue
Revenue:
Revenue	4,571,543	516,465	166,517
Cost of Revenue [Abstract]
Cost of revenue	4,474,534	508,239	164,827
Acquired technology
Cost of Revenue [Abstract]
Amortization of acquired technology	11,174	6,950	7,090
Acquired customers assets
Operating expenses:
Amortization of acquired customer assets	$ 3,855	$ 4,481	$ 4,362

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 213,105	$ 375,446	$ (38,453)
Net foreign currency translation adjustments	20,439	1,879	(4,496)
Net unrealized gain on revaluation of intercompany loans	0	75	303
Net unrealized gain (loss) on marketable debt securities	1,260	5,728	(542)
Total comprehensive income (loss)	$ 234,804	$ 383,128	$ (43,188)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	2027 Notes	2026 Notes	2025 Notes	Cumulative Effect, Period of Adoption, Adjustment	Convertible preferred stock	Class A and B common stock	Additional paid-in capital	Additional paid-in capital2027 Notes	Additional paid-in capital2026 Notes	Additional paid-in capital2025 Notes	Accumulated other comprehensive income (loss)	Accumulated deficit	Accumulated deficitCumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Dec. 31, 2017							395,194,075
Beginning balance at Dec. 31, 2017	$ 786,333				$ (4,586)			$ 1,630,386				$ (1,318)	$ (842,735)	$ (4,586)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(38,453)												(38,453)
Shares issued in connection with employee stock plans (in shares)							22,275,676
Shares issued in connection with employee stock plans	134,027							134,027
Issuance of common stock in connection with business combination (shares)							2,649,590
Issuance of common stock in connection with business combination	140,107							140,107
Replacement stock awards issued in connection with acquisition (in shares)							24,613
Replacement stock awards issued in connection with acquisition	899							899
Change in other comprehensive loss	(4,735)											(4,735)
Share-based compensation	226,182							226,182
Tax withholding related to vesting of restricted stock units (in shares)							(3,013,394)
Tax withholding related to vesting of restricted stock units	(189,124)							(189,124)
Conversion feature of convertible senior notes, net of allocated costs	154,019							154,019
Purchase of bond hedges in conjunction with issuance of convertible senior notes	(172,586)							(172,586)
Sale of warrants in conjunction with issuance of convertible senior notes	112,125							112,125
Issuance of common stock in conjunction with the conversion of senior notes, due 2022 (in shares)							7,288,907
Issuance of common stock in conjunction with the conversion of senior notes, due 2022	(20,962)							(20,962)
Exercise of bond hedges in conjunction with the conversion of senior notes, due 2022 (in shares)							(6,901,567)
Recovery of common stock in connection with indemnification settlement agreement (in shares)							(469,894)
Recovery of common stock in connection with indemnification settlement agreement	(2,745)							(2,745)
Ending balance (in shares) at Dec. 31, 2018						0	417,048,006
Ending balance at Dec. 31, 2018	1,120,501					$ 0	$ 0	2,012,328				(6,053)	(885,774)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	375,446												375,446
Shares issued in connection with employee stock plans (in shares)							19,097,950
Shares issued in connection with employee stock plans	118,550							118,550
Change in other comprehensive loss	7,682											7,682
Share-based compensation	306,201							306,201
Tax withholding related to vesting of restricted stock units (in shares)							(3,077,807)
Tax withholding related to vesting of restricted stock units	(212,264)							(212,264)
Issuance of common stock in conjunction with the conversion of senior notes, due 2022 (in shares)							127
Issuance of common stock in conjunction with the conversion of senior notes, due 2022	$ 3							3
Exercise of bond hedges in conjunction with the conversion of senior notes, due 2022 (in shares)							(250,763)
Recovery of common stock in connection with indemnification settlement agreement (in shares)	(20,793)						(20,793)
Recovery of common stock in connection with indemnification settlement agreement	$ (1,069)							(1,069)
Ending balance (in shares) at Dec. 31, 2019						0	432,796,720
Ending balance at Dec. 31, 2019	1,715,050					$ 0	$ 0	2,223,749				1,629	(510,328)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	213,105												213,105
Shares issued in connection with employee stock plans (in shares)							19,013,638
Shares issued in connection with employee stock plans	161,984							161,984
Issuance of common stock in connection with business combination (shares)							607,974
Issuance of common stock in connection with business combination	35,319							35,319
Change in other comprehensive loss	21,699											21,699
Share-based compensation	411,673							411,673
Tax withholding related to vesting of restricted stock units (in shares)							(2,852,127)
Tax withholding related to vesting of restricted stock units	(314,019)							(314,019)
Conversion feature of convertible senior notes, net of allocated costs		$ 109,207	$ 85,594	$ 152,258					$ 109,207	$ 85,594	$ 152,258
Purchase of bond hedges in conjunction with issuance of convertible senior notes		(104,305)	(84,640)	(149,200)					(104,305)	(84,640)	(149,200)
Sale of warrants in conjunction with issuance of convertible senior notes		$ 68,022	$ 64,573	$ 99,500					$ 68,022	$ 64,573	$ 99,500
Issuance of common stock in conjunction with the conversion of senior notes, due 2022 (in shares)							8,853,484
Issuance of common stock in conjunction with the conversion of senior notes, due 2022	$ 195,749							195,749
Exercise of bond hedges in conjunction with the conversion of senior notes, due 2022 (in shares)							(2,234,913)
Recovery of common stock in connection with indemnification settlement agreement (in shares)	0
Ending balance (in shares) at Dec. 31, 2020						0	456,184,776
Ending balance at Dec. 31, 2020	$ 2,681,569					$ 0	$ 0	$ 2,955,464				$ 23,328	$ (297,223)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ 213,105	$ 375,446	$ (38,453)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	84,212	75,598	60,961
Non-cash interest and other	76,129	33,478	28,512
Loss on extinguishment of long-term debt	6,651	0	5,047
Non-cash lease expense	70,253	29,696	0
Share-based compensation	397,800	297,863	216,881
Replacement stock awards issued in connection with acquisition	0	0	899
Gain on sale of asset group	0	(373,445)	0
Loss (gain) on revaluation of equity investment	(295,297)	12,326	(20,342)
Transaction and loan losses	177,670	126,959	88,077
Change in deferred income taxes	(8,016)	(1,376)	(646)
Changes in operating assets and liabilities:
Settlements receivable	(473,871)	(248,271)	245,795
Customer funds	(1,151,536)	(204,208)	(131,004)
Purchase of loans held for sale	(1,837,137)	(2,266,738)	(1,609,611)
Sales and principal payments of loans held for sale	1,505,406	2,168,682	1,579,834
Customers payable	1,733,138	523,795	15,597
Settlements payable	143,528	41,697	(60,651)
Charge-offs to accrued transaction losses	(73,613)	(78,325)	(58,192)
Other assets and liabilities	(186,819)	(47,478)	(27,624)
Net cash provided by operating activities	381,603	465,699	295,080
Cash flows from investing activities:
Purchase of marketable debt securities	(1,322,362)	(992,583)	(1,000,346)
Proceeds from maturities of marketable debt securities	607,134	430,888	197,454
Proceeds from sale of marketable debt securities	585,427	548,619	171,992
Purchase of marketable debt securities from customer funds	(642,252)	(311,499)	(148,096)
Proceeds from maturities of marketable debt securities from customer funds	382,887	158,055	0
Proceeds from sale of marketable debt securities from customer funds	51,430	17,493	48,334
Purchase of property and equipment	(138,402)	(62,498)	(61,203)
Purchase of other investments	(51,277)	(15,250)	0
Proceeds from sale of equity investment	0	33,016	0
Purchase of intangible assets	0	0	(1,584)
Proceeds from sale of asset group	0	309,324	0
Business combinations, net of cash acquired	(79,221)	(20,372)	(112,399)
Net cash provided by (used in) investing activities:	(606,636)	95,193	(905,848)
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes, net	2,116,544	0	855,663
Purchase of convertible senior note hedges	(338,145)	0	(172,586)
Proceeds from issuance of warrants	232,095	0	112,125
Principal payment on conversion of senior notes	0	0	(219,384)
Proceeds from PPP Liquidity Facility advances	464,094	0	0
Proceeds from the exercise of stock options and purchases under the employee stock purchase plan, net	161,985	118,514	133,850
Payments for tax withholding related to vesting of restricted stock units	(314,019)	(212,264)	(189,124)
Other financing activities	(7,359)	(5,124)	(4,789)
Net cash provided by (used in) financing activities	2,315,195	(98,874)	515,755
Effect of foreign exchange rate on cash and cash equivalents	12,995	3,841	(7,221)
Net increase (decrease) in cash, cash equivalents and restricted cash	2,103,157	465,859	(102,234)
Cash, cash equivalents and restricted cash, beginning of the year	1,098,706	632,847	735,081
Cash, cash equivalents and restricted cash, end of the year	$ 3,201,863	$ 1,098,706	$ 632,847

DESCRIPTION OF BUSINESS AND SUM

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Square, Inc. (together with its subsidiaries, Square or the Company) creates tools that empower businesses, sellers and individuals to participate in the economy. Square enables sellers to accept card payments and also provides reporting and analytics, and next-day settlement. Square’s point-of-sale software and other business services help sellers manage inventory, locations, and employees; access financing; engage buyers; build a website or online store; and grow sales. Cash App is an easy way to send, spend, and store money. On October 31, 2019, the Company completed the sale of the Caviar business, a food ordering service. Square was founded in 2009 and is headquartered in San Francisco, with offices in the United States, Canada, Japan, Australia, Ireland, the United Kingdom, Spain, and Lithuania. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, as well as related disclosure of contingent assets and liabilities. Actual results could differ from the Company’s estimates. To the extent that there are material differences between these estimates and actual results, the Company’s financial condition or operating results will be materially affected. The Company bases its estimates on current and past experience, to the extent that historical experience is predictive of future performance and other assumptions that the Company believes are reasonable under the circumstances. The Company evaluates these estimates on an ongoing basis. Estimates, judgments, and assumptions in these consolidated financial statements include, but are not limited to, those related to revenue recognition, accrued transaction losses, contingencies, valuation of the debt component of convertible senior notes, valuation of loans held for sale including loans under the Paycheck Protection Program ("PPP"), valuation of goodwill and acquired intangible assets, deferred revenue, determination of income and other taxes, operating and financing lease right-of-use assets and related liabilities, assessing the likelihood of adverse outcomes from claims and disputes, and share-based compensation. In March 2020, the World Health Organization declared the COVID-19 pandemic a global pandemic. The Company operates in geographic locations that have been impacted by COVID-19 and that are subject to various mandated public health ordinances, which have impacted the business operations of the Company and its customers. As a consequence of the pandemic and evolving public health orders, the Company’s customers will continue to be exposed to various uncertainties that could negatively impact their ability to repay outstanding amounts, or even continue in business. The Company continues to revise and update the carrying values of its assets or liabilities based on estimates, judgments and circumstances it is aware of, particularly, the expected impact of COVID-19. Due to the impact of the COVID-19 pandemic, the Company’s estimates of accrued transaction losses and valuation of loans held for sale were subject to greater uncertainty. The Company's estimates were based on historical experience, adjusted for market data relevant to the current economic environment. Additionally, the Company incorporated market data for similar historical periods of unprecedented economic conditions and uncertainty in developing such estimates and assumptions. See Note 11 Other Consolidated Balance Sheet Components (Current) , for further details on transaction losses and Note 5, Fair Value of Financial Instruments , for further details on amortized cost over fair value of the loans. These estimates may change, as new events develop and additional information is obtained. The Company has continued to refine its estimates for transaction and loan losses based on actual realized results. Actual results could differ from the estimates, and such differences may be material to the Company's financial statements. The extent of the impact of COVID-19 on the Company's operational and financial performance will depend on certain developments, including, but not limited to, the duration, extent of spread and severity of the outbreak, duration and changes to local, state and federal issued public health orders, impact on our customers and our sales cycles, impact on our employees, various government stimulus assistance programs, and impact on regional and worldwide economies and financial markets in genera l, all of which are uncertain and cannot be predicted. Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Transaction-based revenue The Company charges its sellers a transaction fee for managed payments solutions that is generally calculated as a percentage of the total transaction amount processed. The Company selectively offers custom pricing for certain sellers. The Company collects the transaction amount from the seller's customer's bank, net of acquiring interchange and assessment fees, processing fees, and bank settlement fees paid to third-party payment processors and financial institutions. The Company retains its fees and remits the net amount to the sellers. The Company acts as the merchant of record for its sellers and works directly with payment card networks and banks so that its sellers do not need to manage the complex systems, rules, and requirements of the payments industry. The Company satisfies its performance obligations and therefore recognizes the transaction fees as revenue upon authorization of a transaction by the seller's customer's bank. The Company applies the optional exemption allowed under ASC 606 not to disclose consideration attributable to performance obligations for future transaction processing since the term of the contract with a seller is not defined and any future consideration on the contract would be dependent on the value and volume of transactions processed in the future, which are not determinable. Revenue is recognized net of refunds, which arise from reversals of transactions initiated by sellers. The transaction fees collected from sellers are recognized as revenue on a gross basis as the Company is the principal in the delivery of the managed payments solutions to the sellers. The Company has concluded it is the principal because as the merchant of record, it controls the services before delivery to the seller, it is primarily responsible for the delivery of the services to its sellers, and it has discretion in setting prices charged to sellers. The Company also has the unilateral ability to accept or reject a transaction based on criteria established by the Company. As the merchant of record, Square is liable for the costs of processing the transactions for its sellers, and records such costs within cost of revenue. Subscription and services-based revenue Subscription and services-based revenue is primarily comprised of revenue the Company generates from Instant Deposit and Cash Card, Square Capital, website hosting and domain name registration services, and various other software as a service (SaaS) products. Instant Deposit is a functionality within the Cash App and the Company's managed payments solution that enables customers, including individuals and sellers, to instantly deposit funds into their bank accounts. The Company charges a per transaction fee which is recognized as revenue when customers instantly deposit funds to their bank account. The Company also offers Cash App customers the ability to use funds stored in the Cash App via a Visa prepaid card (Cash Card), for which the Company charges a per transaction fee that is recorded as revenue. Square Capital facilitates a loan that is offered through a partnership with an industrial bank that is either repaid through withholding a percentage of the collections of the seller's receivables processed by the Company or a specified monthly amount. The Company generally facilitates loans to its sellers through a pre-qualification process that includes an analysis of the aggregated data of the seller’s business which includes, but is not limited to, the seller’s historical processing volumes, transaction count, chargebacks, growth, and length of time as a Square customer. The Company also facilitates loans to the customers of certain sellers as well as to the sellers of its partners who do not process payments through the Company. The loans are generally originated by a bank partner, from whom the Company purchases the loans obtaining all rights, title, and interest. The loans have no stated coupon rate but the seller is charged a one-time origination fee by the bank partner based upon their risk rating, which is derived primarily from processing activity. It is the Company’s intent to sell all of its rights, title, and interest of these loans to third-party investors for an upfront fee when the loans are sold. The Company records the net amounts paid to the bank as the cost of the loans purchased and subsequently records a gain on sale of the loans to the third-party investors as revenue upon transfer of title. The Company is retained by the third-party investors to service the loans and earns a servicing fee for facilitating the repayment of these receivables through its managed payments solutions. The Company records servicing revenue as servicing is delivered. For the loans which are not immediately sold to third-party investors, the Company recognizes a portion of the expected seller repayments over the cost of the loans as revenue in proportion to the loan principal reduction. The Company offers customers website hosting services for a fee that is generally billed at inception. The Company also acts as a reseller of domain names registration services for a registrar for a fee, which is also generally billed at inception. The Company considers that it satisfies its performance obligations over time and as such recognizes revenue ratably over the term of the relevant arrangements, which vary from one month to twenty four months for website hosting, and one year to ten years for domain name registration. SaaS represents software products and solutions that provide customers with access to various technologies for a fee which is recognized as revenue ratably as the service is provided. The Company's contracts with customers are generally for a term of one month and renew automatically each month. The Company invoices its customers monthly. The Company considers that it satisfies its performance obligations over time each month as it provides the SaaS services to customers and hence recognizes revenue ratably over the month. Subscription and services revenue also included revenue generated from Caviar, a food ordering platform that facilitated food delivery services that was sold by the Company on October 31, 2019. The performance obligations were the delivery of food orders from restaurants to customers and the provision of catered meals to corporate customers. For delivery of food orders, the Company charged fees to restaurants, as sellers, and also charged delivery and service fees to individuals. For provision of catered meals the Company charged corporate customers a fee. All fees were billed upon delivery of food orders or catered meals, when the Company considers that it has satisfied its performance obligations. Revenue was recognized upon delivery of the food orders or catered meals, net of refunds. Refunds were estimated based on historical experience. Hardware revenue The Company generates revenue through the sale of hardware through e-commerce and through its retail distribution channels. The Company satisfies its performance obligation upon delivery of hardware to its customers who include end user customers, distributors, and retailers. The Company allows for customer returns which are accounted for as variable consideration. The Company estimates these amounts based on historical experience and reduces revenue recognized. The Company invoices end user customers upon delivery of the products to customers, and payments from such customers are due upon invoicing. Distributors and retailers have payment terms that range from 30 to 90 days after delivery. The Company offers hardware installment sales to customers with terms ranging from three to twenty four months. The Company allocates a portion of the consideration received from these arrangements to a financing component when it determines that a significant financing component exists. The financing component is subsequently recognized as financing revenue separate from hardware revenue, within subscription and services-based revenue, over the terms of the arrangement with the customer. Pursuant to practical expedients afforded under ASC 606, the Company does not recognize a financing component for hardware installment sales that have a term of one year or less. Bitcoin revenue The Company offers its Cash App customers the ability to purchase bitcoin, a cryptocurrency denominated asset, from the Company. The Company satisfies its performance obligation and records revenue when bitcoin is transferred to the customer's account. The Company purchases bitcoin from private broker dealers or from Cash App customers and applies a small margin before selling it to its customers. The sale amounts received from customers are recorded as revenue on a gross basis and the associated bitcoin cost as cost of revenues, as the Company is the principal in the bitcoin sale transaction. The Company has concluded it is the principal because it controls the bitcoin before delivery to the customers, it is primarily responsible for the delivery of the bitcoin to the customers, it is exposed to risks arising from fluctuations of the market price of bitcoin before delivery to customers, and has discretion in setting prices charged to customers. Arrangements with Multiple Performance Obligations The Company's contracts with customers generally do not include multiple performance obligations with differing patterns of revenue recognition, except for domain name registration offered with website hosting services. The Company offers its customers the option to buy website hosting bundled with domain name registration, and infrequently the Company has offered its hardware customers free managed payments solutions with the purchase of its hardware as part of a marketing promotion. For such arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company determines standalone selling prices based on the prices charged to customers since the Company's products and services are normally sold on a stand alone basis. Cost of Revenue Transaction-based costs Transaction-based costs consist primarily of interchange and assessment fees, processing fees and bank settlement fees paid to third-party payment processors and financial institutions. Subscription and services-based costs Subscription and services-based costs consist primarily of Caviar-related costs, which included processing fees, payments to third-party couriers for deliveries and the cost of equipment provided to sellers. Caviar-related costs for catered meals also included food costs and personnel costs. Subscriptions and services-based costs also include costs associated with Cash Card and Instant Deposit. The Caviar business was sold in the fourth quarter of 2019. Hardware costs Hardware costs consist of all product costs associated with contactless and chip readers, chip card readers, Square Stand, Square Register, Square Terminal and third-party peripherals. Product costs consist of third-party manufacturing costs. Bitcoin costs Bitcoin cost of revenue comprises of the amounts the Company pays to purchase bitcoin, which will fluctuate in line with the price of bitcoin in the market. Other Costs Other costs such as employee costs, rent, and occupancy charges are generally not allocated to cost of revenues and are reflected in operating expenses. Sales and Marketing Expenses Advertising costs are expensed as incurred and included in sales and marketing expense in the consolidated statements of operations. Total advertising costs for the years ended December 31, 2020, 2019, and 2018 were $224.7 million, $142.7 million, and $101.9 million, respectively. In addition, services, incentives, and other costs to customers that are not directly related to a revenue generating transaction are recorded as sales and marketing expenses, as the Company considers these to be marketing costs to encourage the usage of Cash App. These expenses include, but are not limited to, Cash App peer-to-peer processing costs and related transaction losses, card issuance costs, customer referral bonuses, and promotional giveaways, and were $635.3 million, $279.7 million, and $149.0 million, for the years ended December 31, 2020, 2019, and 2018, respectively. Share-based Compensation Share-based compensation expense relates to stock options, restricted stock awards (RSAs), restricted stock units (RSUs), and purchases under the Company’s 2015 Employee Stock Purchase Plan (ESPP) which is measured based on the grant-date fair value. The fair value of RSAs and RSUs is determined by the closing price of the Company’s common stock on each grant date. The fair value of stock options and ESPP shares granted to employees is estimated on the date of grant using the Black-Scholes-Merton option valuation model. This share-based compensation expense valuation model requires the Company to make assumptions and judgments regarding the variables used in the calculation. These variables include the expected term (weighted average period of time that the options granted are expected to be outstanding), the expected volatility of the Company’s stock, expected risk-free interest rate and expected dividends. The Company uses the simplified calculation of expected term, defined as an average of the vesting term and the contractual term to maturity. Expected volatility is based on a weighted average of the historical volatilities of the Company's common stock along with several entities with characteristics similar to those of the Company. In May 2020, the Company began using its own volatility, as the Company uses its own historical stock price information, such that a peer group is no longer considered necessary. The expected risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. Share-based compensation expense is recorded on a straight-line basis over the requisite service period. The Company accounts for forfeitures as they occur. Interest Income and Expense, net Interest income consists interest income from the Company's investment in marketable debt securities and interest expense relates to the Company's long-term debt. Interest income for the years ended December 31, 2020, 2019, and 2018 were $18.3 million, $23.4 million, and $19.8 million, respectively. Interest expense for the years ended December 31, 2020, 2019, and 2018 were $75.2 million, $44.9 million, and $37.8 million, respectively. Income and Other Taxes The Company reports income taxes under the asset and liability approach. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss and tax credit carryforwards. Deferred tax amounts are determined by using the enacted tax rates expected to be in effect when the temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance reduces the deferred tax assets to the amount that is more likely than not to be realized. The Company considers historical information, tax planning strategies, the expected timing of the reversal of existing temporary differences, and may rely on financial projections to support its position on the recoverability of deferred tax assets. The Company’s judgment regarding future profitability contains significant assumptions and estimates of future operations. If such assumptions were to differ significantly from actual future results of operations, it may have a material impact on the Company’s ability to realize its deferred tax assets. At the end of each period, the Company assesses the ability to realize the deferred tax assets. If it is more likely than not that the Company would not realize the deferred tax assets, then the Company would establish a valuation allowance for all or a portion of the deferred tax assets. The Company recognizes the effect of uncertain income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that has a greater than 50% likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to uncertain tax positions in the provision for income tax expense on the consolidated statements of operations. Cash and Cash Equivalents and Restricted Cash The Company considers all highly liquid investments, including money market funds, with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2020 and 2019, restricted cash of $30.3 million and $38.9 million, respectively, is related to pledged cash deposited into savings accounts at the financial institutions that process the Company's sellers' payment transactions and as collateral pursuant to an agreement with the originating bank for the Company's loan product. The Company uses the restricted cash to secure letters of credit with the financial institution to provide collateral for cash flow timing differences in the processing of these payments. The Company has recorded this amount as a current asset on the consolidated balance sheets due to the short-term nature of these cash flow timing differences and that there is no minimum time frame during which the cash must remain restricted. Additionally, this balance includes certain amounts held as collateral pursuant to multi-year lease agreements, discussed in the paragraph below that we expect to become unrestricted within the next year. As of December 31, 2020 and 2019, the remaining restricted cash of $13.5 million and $12.7 million, respectively, is primarily related to cash held as collateral pursuant to multi-year lease agreements (Note 18). The Company has recorded this amount as a non-current asset on the consolidated balance sheets as the terms of the related leases extend beyond one year. Concentration of Credit Risk For the years ended December 31, 2020, 2019 and 2018, the Company had no customer that accounted for greater than 10% of total net revenue. The Company had two third-party payment processors that represented approximately 59% and 27% of settlements receivable as of December 31, 2020. As of December 31, 2019, there were three parties that represented approximately 48%, 29%, and 9% of settlements receivable. All other third-party processors were insignificant. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, marketable debt securities, settlements receivable, customer funds, and loans held for sale. The associated risk of concentration for cash and cash equivalents and restricted cash is mitigated by banking with creditworthy institutions. At certain times, amounts on deposit exceed federal deposit insurance limits. The associated risk of concentration for marketable debt securities is mitigated by holding a diversified portfolio of highly rated investments. Settlements receivable are amounts due from well-established payment processing companies and normally take one two Investments in marketable debt securities The Company's short-term and long-term investments include marketable debt securities such as government and agency securities, corporate bonds, commercial paper and municipal securities. The Company determines the appropriate classification of its investments in marketable debt securities at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its marketable debt securities as available-for-sale and carries these investments at fair value, reporting the unrealized gains and losses, net of taxes, as a component of stockholders’ equity. The U.S. government and U.S. agency securities are either explicitly or implicitly guaranteed by the U.S. government and are highly rated by major rating agencies. The corporate bonds are issued by highly rated entities. The foreign government securities are issued by highly rated international entities. The Company has the ability and intent to hold these investments with unrealized losses for a reasonable period of time sufficient for the recovery of their amortized cost bases, which may be at maturity. The Company determines any realized gains or losses on the sale of marketable debt securities on a specific identification method, and records such gains and losses as a component of other expense (income), net. Investments in equity securities The Company holds marketable and non-marketable equity investments, over which the Company does not have a controlling interest or significant influence. Marketable equity investments are measured using quoted prices in active markets with changes recorded in other expense (income), net on the consolidated statements of operations. Non-marketable equity investments have no readily determinable fair values and are measured using the measurement alternative, which is defined as cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments are recorded in other expense (income), net on the consolidated statements of operations. Non-marketable equity investments are valued using significant unobservable inputs or data in an inactive market and the valuation requires our judgment due to the absence of market prices and inherent lack of liquidity. The carrying value for these investments is not adjusted if there are no observable transactions for identical or similar investments of the same issuer or if there are no identified events or changes in circumstances that may indicate impairment. Valuations of non-marketable equity investments are inherently complex due to the lack of readily available market data. In addition, the determination of whether an orderly transaction is for an identical or similar investment requires significant management judgment, including understanding the differences in the rights and obligations of the investments and the extent to which those differences would affect the fair values of those investments. The Company assesses the impairment of its non-marketable equity investments on a quarterly basis. The impairment analysis encompasses an assessment of the severity and duration of the impairment and a qualitative and quantitative analysis of other key factors including the investee’s financial metrics, market acceptance of the investee’s product or technology, other competitive products or technology in the market, general market conditions, and the rate at which the investee is using its cash. If the investment is considered to be impaired, the Company will record an impairment in other income (expense), net on the consolidated statements of operations and establish a new carrying value for the investment. Customer funds Customer funds held in deposit represent customers' stored balances that customers would later use to send money or make payments, or customers cash in transit. The Company invests a portion of these stored balances in short-term marketable debt securities (Note 4). The Company determines the appropriate classification of the investments in marketable debt securities within customer funds at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its marketable debt securities within customer funds as available-for-sale. Fair Value of Financial Instruments The Company applies fair value accounting for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. Fair value accounting establishes a three-level hierarchy priority for disclosure of assets and liabilities recorded at fair value. The ordering of priority reflects the degree to which objective prices in external active markets are available to measure fair value. The classification of assets and liabilities within the hierarchy is based on whether the inputs to the valuation methodology used for measurement are observable or unobservable. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: • Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. • Level 2 Inputs: Other than quoted prices included in Level 1 Inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. • Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. Loans Held for Sale The Company classifies customer loans as held for sale upon purchase from an industrial bank partner, as there is an available market for such loans and it is the Company’s intent to sell all of its rights, title, and interest in these loans to third-party investors. Loans held for sale are recorded at the lower of amortized cost or fair value determined on an individual loan basis. To determine the fair value the Company utilizes industry-standard valuation modeling, such as discounted cash flow models, taking into account the estimated timing and amounts of periodic repayments. In estimating the expected timing and amounts of the future periodic repayments for the loans outstanding as of December 31, 2020, the Company considered other relevant market data, including the impact of the COVID-19 pandemic, as well as the conditions and uncertainty experienced during similar historical periods of recessionary economic conditions. With respect to PPP loans, the Company also considers the impact of government guarantees and loan forgiveness on the timing and amounts of future cash flows. The Company recognizes a charge within transaction and loan losses in the consolidated statement of operations whenever the amortized cost of a loan exceeds its fair value, with such charges being reversed for subsequent increases in fair value, but only to the extent that such reversals do not result in the amortized cost of a loan exceeding its fair value. A loan that is initially designated as held for sale may be reclassified to held for investment if and when the Company's intent for that loan changes. There have be

REVENUE

REVENUE	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The following table presents the Company's revenue disaggregated by revenue source (in thousands): Year Ended December 31, 2020 2019 2018 Revenue from Contracts with Customers: Transaction-based revenue $ 3,294,978 $ 3,081,074 $ 2,471,451 Subscription and services-based revenue 1,447,188 883,922 499,010 Hardware revenue 91,654 84,505 68,503 Bitcoin revenue 4,571,543 516,465 166,517 Revenue from other sources: Subscription and services-based revenue $ 92,215 $ 147,534 $ 92,696 The deferred revenue balances were as follows (in thousands): Year Ended December 31, 2020 2019 Deferred revenue, beginning of the period $ 44,331 $ 36,451 Deferred revenue, end of the period 51,804 44,331 Deferred revenue arising from business combination 800 — Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period $ 38,190 $ 31,510

INVESTMENTS IN DEBT SECURITIES

INVESTMENTS IN DEBT SECURITIES	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN DEBT SECURITIES	INVESTMENTS IN DEBT SECURITIES The Company's short-term and long-term investments as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 153,386 $ 782 $ (164) $ 154,004 Corporate bonds 76,957 256 (14) 77,199 Commercial paper 4,999 — — 4,999 Municipal securities 10,377 57 (3) 10,431 U.S. government securities 404,194 1,244 (4) 405,434 Foreign government securities 42,988 139 (82) 43,045 Total $ 692,901 $ 2,478 $ (267) $ 695,112 Long-term debt securities: U.S. agency securities $ 168,762 $ 519 $ (3) $ 169,278 Corporate bonds 174,655 1,401 (42) 176,014 Municipal securities 1,045 15 — 1,060 U.S. government securities 91,642 433 (2) 92,073 Foreign government securities 25,351 184 (10) 25,525 Total $ 461,455 $ 2,552 $ (57) $ 463,950 The Company's short-term and long-term investments as of December 31, 2019 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 131,124 $ 409 $ (11) $ 131,522 Corporate bonds 67,169 580 (28) 67,721 Municipal securities 6,667 109 — 6,776 U.S. government securities 264,069 1,083 (17) 265,135 Foreign government securities 21,270 48 (16) 21,302 Total $ 490,299 $ 2,229 $ (72) $ 492,456 Long-term debt securities: U.S. agency securities $ 63,645 $ 612 $ (189) $ 64,068 Corporate bonds 141,307 1,832 (61) 143,078 Municipal securities 9,594 151 (39) 9,706 U.S. government securities 294,682 1,287 (190) 295,779 Foreign government securities 24,625 86 (39) 24,672 Total $ 533,853 $ 3,968 $ (518) $ 537,303 The amortized cost of investments classified as cash equivalents approximated the fair value due to the short-term nature of the investments. The Company's gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2020 and 2019, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 41,711 $ (162) $ 2,505 $ (2) $ 44,216 $ (164) Corporate bonds 15,255 (14) — — 15,255 (14) Municipal securities 2,566 (3) — — 2,566 (3) U.S. government securities 45,970 (4) — — 45,970 (4) Foreign government securities 21,341 (82) — — 21,341 (82) Total $ 126,843 $ (265) $ 2,505 $ (2) $ 129,348 $ (267) Long-term debt securities: U.S. agency securities $ 1,406 $ (3) $ — $ — $ 1,406 $ (3) Corporate bonds 28,189 (42) — — 28,189 (42) U.S. government securities 8,658 (2) — — 8,658 (2) Foreign government securities 10,929 (10) — — 10,929 (10) Total $ 49,182 $ (57) $ — $ 49,182 $ (57) December 31, 2019 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 23,896 $ (9) $ 4,996 $ (2) $ 28,892 $ (11) Corporate bonds 5,507 (27) 2,502 (1) 8,009 (28) U.S. government securities 21,481 (8) 14,984 (9) 36,465 (17) Foreign government securities 13,499 (16) — — 13,499 (16) Total $ 64,383 $ (60) $ 22,482 $ (12) $ 86,865 $ (72) Long-term debt securities: U.S. agency securities $ 16,740 $ (189) $ — $ — $ 16,740 $ (189) Corporate bonds 16,708 (61) — — 16,708 (61) Municipal securities 1,005 (39) — — 1,005 (39) U.S. government securities 42,210 (162) — (28) 42,210 (190) Foreign government securities 16,383 (39) — — 16,383 (39) Total $ 93,046 $ (490) $ — $ (28) $ 93,046 $ (518) The Company does not have any available for sale debt securities for which the Company has recorded credit related losses. The contractual maturities of the Company's short-term and long-term investments as of December 31, 2020 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 692,901 $ 695,112 Due in one to five years 461,455 463,950 Total $ 1,154,356 $ 1,159,062 The following table presents the assets underlying customer funds (in thousands): December 31, December 31, Cash $ 145,577 $ 422,459 Customer funds in transit (ii) 262,562 — Cash Equivalents: Money market funds 777,193 233 Reverse repurchase agreement (i) 246,880 — U.S. agency securities 47,300 8,585 U.S. government securities 111,796 6,984 Short-term debt securities: U.S. agency securities 113,178 — U.S. government securities 333,346 238,031 Total $ 2,037,832 $ 676,292 (i) The Company has accounted for the reverse repurchase agreement with a third party as an overnight lending arrangement, collateralized by the securities subject to the repurchase agreement. The Company classifies the amounts due from the counterparty as cash equivalents due to the short term nature. (ii) The customer funds in transit were received subsequent to December 31, 2020. The Company's investments within customer funds as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 113,156 $ 22 $ — $ 113,178 U.S. government securities 333,323 28 (5) 333,346 Total $ 446,479 $ 50 $ (5) $ 446,524 The Company's investments within customer funds as of December 31, 2019 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. government securities $ 237,909 $ 144 $ (22) $ 238,031 Total $ 237,909 $ 144 $ (22) $ 238,031 The amortized cost of investments classified as cash equivalents approximated the fair value due to the short-term nature of the investments. The gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2020 and 2019, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. government securities $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) Total $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) December 31, 2019 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. government securities $ 56,984 $ (22) $ — $ — $ 56,984 $ (22) Total $ 56,984 $ (22) $ — $ — $ 56,984 $ (22) The Company does not have any available for sale debt securities for which the Company has recorded credit related losses. The contractual maturities of the Company's investments within customer funds as of December 31, 2020 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 446,479 $ 446,524 Due in one to five years — — Total $ 446,479 $ 446,524

CUSTOMER FUNDS

CUSTOMER FUNDS	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
CUSTOMER FUNDS	INVESTMENTS IN DEBT SECURITIES The Company's short-term and long-term investments as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 153,386 $ 782 $ (164) $ 154,004 Corporate bonds 76,957 256 (14) 77,199 Commercial paper 4,999 — — 4,999 Municipal securities 10,377 57 (3) 10,431 U.S. government securities 404,194 1,244 (4) 405,434 Foreign government securities 42,988 139 (82) 43,045 Total $ 692,901 $ 2,478 $ (267) $ 695,112 Long-term debt securities: U.S. agency securities $ 168,762 $ 519 $ (3) $ 169,278 Corporate bonds 174,655 1,401 (42) 176,014 Municipal securities 1,045 15 — 1,060 U.S. government securities 91,642 433 (2) 92,073 Foreign government securities 25,351 184 (10) 25,525 Total $ 461,455 $ 2,552 $ (57) $ 463,950 The Company's short-term and long-term investments as of December 31, 2019 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 131,124 $ 409 $ (11) $ 131,522 Corporate bonds 67,169 580 (28) 67,721 Municipal securities 6,667 109 — 6,776 U.S. government securities 264,069 1,083 (17) 265,135 Foreign government securities 21,270 48 (16) 21,302 Total $ 490,299 $ 2,229 $ (72) $ 492,456 Long-term debt securities: U.S. agency securities $ 63,645 $ 612 $ (189) $ 64,068 Corporate bonds 141,307 1,832 (61) 143,078 Municipal securities 9,594 151 (39) 9,706 U.S. government securities 294,682 1,287 (190) 295,779 Foreign government securities 24,625 86 (39) 24,672 Total $ 533,853 $ 3,968 $ (518) $ 537,303 The amortized cost of investments classified as cash equivalents approximated the fair value due to the short-term nature of the investments. The Company's gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2020 and 2019, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 41,711 $ (162) $ 2,505 $ (2) $ 44,216 $ (164) Corporate bonds 15,255 (14) — — 15,255 (14) Municipal securities 2,566 (3) — — 2,566 (3) U.S. government securities 45,970 (4) — — 45,970 (4) Foreign government securities 21,341 (82) — — 21,341 (82) Total $ 126,843 $ (265) $ 2,505 $ (2) $ 129,348 $ (267) Long-term debt securities: U.S. agency securities $ 1,406 $ (3) $ — $ — $ 1,406 $ (3) Corporate bonds 28,189 (42) — — 28,189 (42) U.S. government securities 8,658 (2) — — 8,658 (2) Foreign government securities 10,929 (10) — — 10,929 (10) Total $ 49,182 $ (57) $ — $ 49,182 $ (57) December 31, 2019 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 23,896 $ (9) $ 4,996 $ (2) $ 28,892 $ (11) Corporate bonds 5,507 (27) 2,502 (1) 8,009 (28) U.S. government securities 21,481 (8) 14,984 (9) 36,465 (17) Foreign government securities 13,499 (16) — — 13,499 (16) Total $ 64,383 $ (60) $ 22,482 $ (12) $ 86,865 $ (72) Long-term debt securities: U.S. agency securities $ 16,740 $ (189) $ — $ — $ 16,740 $ (189) Corporate bonds 16,708 (61) — — 16,708 (61) Municipal securities 1,005 (39) — — 1,005 (39) U.S. government securities 42,210 (162) — (28) 42,210 (190) Foreign government securities 16,383 (39) — — 16,383 (39) Total $ 93,046 $ (490) $ — $ (28) $ 93,046 $ (518) The Company does not have any available for sale debt securities for which the Company has recorded credit related losses. The contractual maturities of the Company's short-term and long-term investments as of December 31, 2020 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 692,901 $ 695,112 Due in one to five years 461,455 463,950 Total $ 1,154,356 $ 1,159,062 The following table presents the assets underlying customer funds (in thousands): December 31, December 31, Cash $ 145,577 $ 422,459 Customer funds in transit (ii) 262,562 — Cash Equivalents: Money market funds 777,193 233 Reverse repurchase agreement (i) 246,880 — U.S. agency securities 47,300 8,585 U.S. government securities 111,796 6,984 Short-term debt securities: U.S. agency securities 113,178 — U.S. government securities 333,346 238,031 Total $ 2,037,832 $ 676,292 (i) The Company has accounted for the reverse repurchase agreement with a third party as an overnight lending arrangement, collateralized by the securities subject to the repurchase agreement. The Company classifies the amounts due from the counterparty as cash equivalents due to the short term nature. (ii) The customer funds in transit were received subsequent to December 31, 2020. The Company's investments within customer funds as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 113,156 $ 22 $ — $ 113,178 U.S. government securities 333,323 28 (5) 333,346 Total $ 446,479 $ 50 $ (5) $ 446,524 The Company's investments within customer funds as of December 31, 2019 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. government securities $ 237,909 $ 144 $ (22) $ 238,031 Total $ 237,909 $ 144 $ (22) $ 238,031 The amortized cost of investments classified as cash equivalents approximated the fair value due to the short-term nature of the investments. The gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2020 and 2019, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. government securities $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) Total $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) December 31, 2019 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. government securities $ 56,984 $ (22) $ — $ — $ 56,984 $ (22) Total $ 56,984 $ (22) $ — $ — $ 56,984 $ (22) The Company does not have any available for sale debt securities for which the Company has recorded credit related losses. The contractual maturities of the Company's investments within customer funds as of December 31, 2020 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 446,479 $ 446,524 Due in one to five years — — Total $ 446,479 $ 446,524

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS The Company measures its cash equivalents, customer funds, short-term and long-term marketable debt securities, and marketable equity investments at fair value. The Company classifies these investments within Level 1 or Level 2 of the fair value hierarchy because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs. The Company’s financial assets and liabilities that are measured at fair value on a recurring basis are classified as follows (in thousands): December 31, 2020 December 31, 2019 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Cash Equivalents: Money market funds $ 1,694,736 $ — $ — $ 213,576 $ — $ — U.S. agency securities — 41,186 — — 19,976 — Commercial paper — — — — — — U.S. government securities 15,000 — — 46,914 — — Foreign government securities — — — — — — Customer funds: Money market funds 777,193 — — 233 — — Reverse repurchase agreement 246,880 — — — — — U.S. agency securities — 160,478 — — 8,585 — U.S. government securities 445,142 — — 245,015 — — Short-term debt securities: U.S. agency securities — 154,004 — — 131,522 — Corporate bonds — 77,199 — — 67,721 — Commercial paper — 4,999 — — — — Municipal securities — 10,431 — — 6,776 — U.S. government securities 405,434 — — 265,135 — — Foreign government securities — 43,045 — — 21,302 — Long-term debt securities: U.S. agency securities — 169,278 — — 64,068 — Corporate bonds — 176,014 — — 143,078 — Municipal securities — 1,060 — — 9,706 — U.S. government securities 92,073 — — 295,779 — — Foreign government securities — 25,525 — — 24,672 — Other: Investment in marketable equity security 376,258 — — — — — Total $ 4,052,716 $ 863,219 $ — $ 1,066,652 $ 497,406 $ — The carrying amounts of certain financial instruments, including settlements receivable, accounts payable, customers payable, accrued expenses and settlements payable, approximate their fair values due to their short-term nature. The Company estimates the fair value of its convertible senior notes based on their last actively traded prices (Level 1) or market observable inputs (Level 2). The estimated fair value and carrying value of the convertible senior notes were as follows (in thousands): December 31, 2020 December 31, 2019 Carrying Value Fair Value (Level 2) Carrying Value Fair Value (Level 2) 2027 Notes $ 458,496 $ 644,000 $ — $ — 2026 Notes 482,204 638,250 — — 2025 Notes 858,332 1,912,440 — — 2023 Notes 780,046 2,417,820 748,564 962,516 2022 Notes 7,846 80,731 190,268 578,817 Total $ 2,586,924 $ 5,693,241 $ 938,832 $ 1,541,333 The estimated fair value and carrying value of loans held for sale is as follows (in thousands): December 31, 2020 December 31, 2019 Carrying Value Fair Value (Level 3) Carrying Value Fair Value (Level 3) Loans held for sale $ 462,665 $ 467,805 $ 164,834 $ 173,360 Total $ 462,665 $ 467,805 $ 164,834 $ 173,360 For the years ended December 31, 2020, 2019, and 2018, the Company recorded a charge for the excess of amortized cost over the fair value of the loans of $26.0 million, $23.2 million, and $13.2 million, respectively. As of December 31, 2020, $420.8 million of the carrying value of loans held for sale was attributable to loans under the PPP. As the loans under the PPP qualify for forgiveness if certain criteria are met or are guaranteed by the U.S. government through the Small Business Administration ("SBA"), the related credit losses as of December 31, 2020 were immaterial. As of December 31, 2020, approximately $46.4 million in PPP loans held for sale have been forgiven by the SBA, resulting in the recognition of $2.8 million in servicing and repayment revenue associated with the forgiveness of the PPP loans. If applicable, the Company will recognize transfers into and out of levels within the fair value hierarchy at the end of the reporting period in which the actual event or change in circumstance occurs. During the years ended December 31, 2020, 2019 and 2018, the Company did not have any transfers in or out of Level 1, Level 2, or Level 3 assets or liabilities.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	PROPERTY AND EQUIPMENT, NET The following is a summary of property and equipment, less accumulated depreciation and amortization (in thousands): December 31, December 31, Leasehold improvements $ 168,125 $ 111,942 Computer equipment 139,174 106,469 Capitalized software 119,452 81,984 Office furniture and equipment 34,890 27,328 Total 461,641 327,723 Less: Accumulated depreciation and amortization (228,121) (178,529) Property and equipment, net $ 233,520 $ 149,194

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS Other Acquisitions The Company completed certain acquisitions for a total consideration of $126.7 million, $25.2 million, and $15.4 million, during the years ended December 31, 2020, 2019, and 2018, respectively, which resulted in the recognition of additional intangible assets and goodwill. With the exception of Weebly completed in 2018, there were no material acquisitions during these periods therefore pro forma financial information has not been presented. None of the goodwill generated from the acquisitions or the acquired intangible assets are expected to be deductible for tax purposes. Weebly, Inc. On May 31, 2018, the Company acquired 100% of the outstanding shares of Weebly, a technology company that offers customers website hosting and domain name registration solutions. The acquisition of Weebly enabled the Company to combine Weebly’s web presence tools with the Company's in-person and online offerings to create a cohesive solution for sellers to start or grow an omnichannel business. The acquisition expanded the Company’s customer base globally and added a new recurring revenue stream. The purchase consideration was comprised of $132.4 million in cash and 2,418,271 shares of the Company’s Class A common stock with an aggregate fair value of $140.1 million based on the closing price of the Company’s Class A common stock on the acquisition date. As part of the acquisition, the Company paid an aggregate of $17.7 million in cash and shares to settle outstanding vested and unvested employee options, of which $2.6 million was accounted for as post-combination compensation expense and is excluded from the purchase consideration. Third-party acquisition-related costs were insignificant. The results of Weebly's operations have been included in the consolidated financial statements since the closing date. The acquisition was accounted for as a business combination. This method requires, among other things, that assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date and that the difference between the fair value of the consideration paid for the acquired entity and the fair value of the net assets acquired be recorded as goodwill, which is not amortized but is tested at least annually for impairment. The table below summarizes the consideration paid for Weebly and the fair value of the assets acquired and liabilities assumed at the closing date (in thousands, except share data). Consideration: Cash $ 132,432 Stock (2,418,271 shares of Class A common stock) 140,107 $ 272,539 Recognized amounts of identifiable assets acquired and liabilities assumed: Current assets (inclusive of cash acquired of $25,758) $ 46,978 Intangible customer assets 42,700 Intangible technology assets 14,900 Intangible trade name 11,300 Intangible other assets 961 Total liabilities assumed (including deferred revenue of $22,800) (37,509) Total identifiable net assets acquired 79,330 Goodwill 193,209 Total $ 272,539 The Company prepared an initial determination of the fair value of the assets acquired and liabilities assumed as of the acquisition date using preliminary information. Subsequently, the Company recognized measurement period adjustments to the purchase consideration and the fair value of certain liabilities assumed as a result of further refinements in the Company’s estimates and were prospectively applied. In 2019, the effect of these adjustments on the purchase price allocation was an increase in goodwill, current assets and tax liabilities assumed of $3.7 million, $2.3 million and $4.7 million, respectively. There was no impact to the consolidated statements of operations as result of these adjustments. As of December 31, 2020, $0.5 million of cash and 8,873 shares of the total consideration continued to be withheld as security for indemnification obligations related to general representations and warranties, in addition to certain potential tax exposures. Goodwill from the Weebly acquisition was primarily attributable to the value of expected synergies created by incorporating Weebly solutions into the Company's technology platform and the value of the assembled workforce. None of the goodwill generated from the Weebly acquisition or the acquired intangible assets are expected to be deductible for tax purposes. Additionally the acquisition would have resulted in recognition of deferred tax assets arising mainly from the net of deferred tax assets from acquired net operating losses (NOLs) and research and development credits, and deferred tax liabilities associated with intangible assets and deferred revenue. However, the realization of such deferred tax assets depends primarily on the Company's post-acquisition ability to generate taxable income in future periods. Accordingly, a valuation allowance was recorded against the net acquired deferred tax asset in accounting for the acquisition.

SALE OF ASSET GROUP

SALE OF ASSET GROUP	12 Months Ended
	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
SALE OF ASSET GROUP	SALE OF ASSET GROUP On October 31, 2019, the Company completed the sale of certain assets that comprised its Caviar business to DoorDash, Inc. (DoorDash) for $410 million in gross proceeds comprised of $310 million in cash and $100 million of DoorDash's preferred stock. The Company agreed to indemnify DoorDash for potential losses and costs that may arise from certain legal and other matters. The Caviar business, which offered food ordering and delivery services to customers, was a small component of the Company's overall business comprising less than 5% of the Company's consolidated total assets and revenues. The sale was in line with the Company's strategy of focusing investment on its larger and growing Seller and Cash App businesses. Accordingly the sale of the Caviar business did not represent a strategic shift that will have a major effect on the Company's operations and financial results, and did not therefore qualify for reporting as a discontinued operation. The following table summarizes the calculation of the gain on the sale of Caviar business (in thousands): Consideration received: Cash $ 310,000 Preferred Stock 100,000 $ 410,000 Net assets sold: Intangible and other assets, net $ 8,659 Goodwill 4,221 Disposal costs and other adjustments 23,675 $ 36,555 Gain on sale of asset group $ 373,445

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL Goodwill is recorded when the consideration paid for an acquisition of a business exceeds the fair value of identifiable net tangible and intangible assets acquired. The change in carrying value of goodwill in the period was as follows (in thousands): Balance at December 31, 2018 $ 261,705 Acquisitions completed during the year ended December 31, 2019 10,832 Sale of asset group (Note 8) (4,221) Other adjustments (1,971) Balance at December 31, 2019 266,345 Acquisitions completed during the year ended December 31, 2020 49,571 Other adjustments 785 Balance at December 31, 2020 $ 316,701 Effective June 30, 2020, the Company changed its operating and reporting segments to reflect the manner in which the Chief Operating Decision Maker (CODM) reviews and assesses performance. Accordingly, the Company has two operating and reportable segments, which are Seller and Cash App (defined further in Note 19, Segment and Geographical Information ). The Company allocated $183.4 million and $112.4 million of the goodwill balance at June 30, 2020 to Seller and Cash App, respectively. In addition, the Company completed an assessment of any potential goodwill impairment for the reporting units immediately before and after the reallocation and determined that no impairment existed as of June 30, 2020. The change in carrying value of goodwill allocated to the reportable segments in the period was as follows (in thousands): Cash App Seller Total Balance as of June 30, 2020 $ 112,389 $ 183,371 $ 295,760 Acquisitions 15,587 4,492 20,079 Other adjustments 862 — 862 Balance as of December 31, 2020 $ 128,838 $ 187,863 $ 316,701

ACQUIRED INTANGIBLE ASSETS

ACQUIRED INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
ACQUIRED INTANGIBLE ASSETS	ACQUIRED INTANGIBLE ASSETS The Company entered into various transactions accounted for as business combinations during the years ended December 31, 2020 and December 31, 2019, that involved the acquisition of intangible assets. Refer to Note 7 for further details. The following table presents the detail of acquired intangible assets as of the periods presented (in thousands): Balance at December 31, 2020 Weighted Average Estimated Useful Life Cost Accumulated Amortization Net Technology assets 5 years $ 119,508 $ (43,084) $ 76,424 Customer assets 11 years 58,556 (10,796) 47,760 Trade name 6 years 18,529 (8,031) 10,498 Other 8 years 5,733 (2,803) 2,930 Total $ 202,326 $ (64,714) $ 137,612 Balance at December 31, 2019 Weighted Average Estimated Useful Life Cost Accumulated Amortization Net Technology assets 5 years $ 53,900 $ (31,873) $ 22,027 Customer assets 12 years 44,000 (6,934) 37,066 Trade name 4 years 11,300 (4,473) 6,827 Other 8 years 5,299 (2,140) 3,159 Total $ 114,499 $ (45,420) $ 69,079 All intangible assets are amortized over their estimated useful lives. As a result of the COVID-19 pandemic, the Company performed an impairment assessment of its intangible assets as of December 31, 2020, and concluded that no impairment charges were required. The changes to the carrying value of intangible assets were as follows (in thousands): Year Ended December 31, 2020 2019 2018 Acquired intangible assets, net, beginning of the period $ 69,079 $ 77,102 $ 14,334 Acquisitions 85,960 14,559 75,871 Amortization expense (19,239) (15,000) (13,103) Sale of asset group (Note 8) — (7,582) — Other adjustments 1,812 — — Acquired intangible assets, net, end of the period $ 137,612 $ 69,079 $ 77,102 The estimated future amortization expense of intangible assets as of December 31, 2020 is as follows (in thousands): 2021 $ 27,679 2022 25,605 2023 24,353 2024 21,376 2025 14,548 Thereafter 24,051 Total $ 137,612

OTHER CONSOLIDATED BALANCE SHEE

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)	OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) Other Current Assets The following table presents the detail of other current assets (in thousands): December 31, December 31, Inventory, net $ 61,129 $ 47,683 Restricted cash 30,279 38,873 Processing costs receivable 148,606 67,281 Prepaid expenses 34,279 22,758 Accounts receivable, net 41,960 33,863 Other 66,814 39,951 Total $ 383,067 $ 250,409 Accrued Expenses and Other Current Liabilities The following table presents the detail of accrued expenses (in thousands): December 31, December 31, Accrued expenses $ 126,710 $ 128,387 Square Payroll payable (i) 16,990 27,969 Accrued transaction losses (ii) 70,557 34,771 Accounts payable 47,089 42,116 Deferred revenue, current 44,908 38,104 Other 54,596 26,494 Total $ 360,850 $ 297,841 (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 reserves at December 31, 2020 reflect the expected increased chargebacks from non-delivery of goods and services as well as increased failure rates of sellers due to the COVID-19 pandemic. The reconciliation of the beginning and ending accrued transaction losses is as follows: Year Ended December 31, 2020 2019 Accrued transaction losses, beginning of the year $ 34,771 $ 33,682 Provision for transaction losses 109,399 79,414 Charge-offs to accrued transaction losses (73,613) (78,325) Accrued transaction losses, end of the year $ 70,557 $ 34,771 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 $264.3 million and $99.4 million for the year ended December 31, 2020, and 2019, respectively, for such losses. Other Non-Current Assets The following table presents the detail of other non-current assets (in thousands): December 31, December 31, Investment in non-marketable equity securities (i) $ 32,510 $ 110,000 Investment in marketable equity security (ii) 376,258 — Investment in bitcoin (iii) 50,000 — Non-current lease prepayments (iv) — 45,738 Restricted cash 13,526 12,715 Other 26,956 27,935 Total $ 499,250 $ 196,388 (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) In December 2020, upon DoorDash's initial public offering, the shares of preferred stock held by the Company converted into Class A common stock of DoorDash. As of December 31, 2020, the Company revalued this investment and will subsequently carry it at fair value, with changes in fair value being recorded within other income or expense on the consolidated statement of operations. During the year ended December 31, 2020, the Company recorded a gain of $276.3 million to other income on the consolidated statements of operations arising from revaluation of this investment. (iii) The Company invested in bitcoin in the fourth quarter of 2020, which is accounted for as an intangible asset. As of December 31, 2020, the fair value of the bitcoin investment was $136.5 million based on the market prices. (iv) The non-current lease prepayments as of December 31, 2019, have been reclassified to the operating lease right-of-use assets upon lease commencement. Other Non-Current Liabilities The following table presents the detail of other non-current liabilities (in thousands): December 31, December 31, Statutory liabilities (i) $ 75,370 $ 54,762 Deferred revenue, non-current 6,896 6,227 Other 3,025 33,472 Total $ 85,291 $ 94,461 (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.

OTHER CONSOLIDATED BALANCE SH_2

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)	OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) Other Current Assets The following table presents the detail of other current assets (in thousands): December 31, December 31, Inventory, net $ 61,129 $ 47,683 Restricted cash 30,279 38,873 Processing costs receivable 148,606 67,281 Prepaid expenses 34,279 22,758 Accounts receivable, net 41,960 33,863 Other 66,814 39,951 Total $ 383,067 $ 250,409 Accrued Expenses and Other Current Liabilities The following table presents the detail of accrued expenses (in thousands): December 31, December 31, Accrued expenses $ 126,710 $ 128,387 Square Payroll payable (i) 16,990 27,969 Accrued transaction losses (ii) 70,557 34,771 Accounts payable 47,089 42,116 Deferred revenue, current 44,908 38,104 Other 54,596 26,494 Total $ 360,850 $ 297,841 (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 reserves at December 31, 2020 reflect the expected increased chargebacks from non-delivery of goods and services as well as increased failure rates of sellers due to the COVID-19 pandemic. The reconciliation of the beginning and ending accrued transaction losses is as follows: Year Ended December 31, 2020 2019 Accrued transaction losses, beginning of the year $ 34,771 $ 33,682 Provision for transaction losses 109,399 79,414 Charge-offs to accrued transaction losses (73,613) (78,325) Accrued transaction losses, end of the year $ 70,557 $ 34,771 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 $264.3 million and $99.4 million for the year ended December 31, 2020, and 2019, respectively, for such losses. Other Non-Current Assets The following table presents the detail of other non-current assets (in thousands): December 31, December 31, Investment in non-marketable equity securities (i) $ 32,510 $ 110,000 Investment in marketable equity security (ii) 376,258 — Investment in bitcoin (iii) 50,000 — Non-current lease prepayments (iv) — 45,738 Restricted cash 13,526 12,715 Other 26,956 27,935 Total $ 499,250 $ 196,388 (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) In December 2020, upon DoorDash's initial public offering, the shares of preferred stock held by the Company converted into Class A common stock of DoorDash. As of December 31, 2020, the Company revalued this investment and will subsequently carry it at fair value, with changes in fair value being recorded within other income or expense on the consolidated statement of operations. During the year ended December 31, 2020, the Company recorded a gain of $276.3 million to other income on the consolidated statements of operations arising from revaluation of this investment. (iii) The Company invested in bitcoin in the fourth quarter of 2020, which is accounted for as an intangible asset. As of December 31, 2020, the fair value of the bitcoin investment was $136.5 million based on the market prices. (iv) The non-current lease prepayments as of December 31, 2019, have been reclassified to the operating lease right-of-use assets upon lease commencement. Other Non-Current Liabilities The following table presents the detail of other non-current liabilities (in thousands): December 31, December 31, Statutory liabilities (i) $ 75,370 $ 54,762 Deferred revenue, non-current 6,896 6,227 Other 3,025 33,472 Total $ 85,291 $ 94,461 (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.

INDEBTEDNESS

INDEBTEDNESS	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
INDEBTEDNESS	INDEBTEDNESS Revolving Credit Facility In November 2015, the Company entered into a revolving credit agreement with certain lenders, which provided for a $375.0 million revolving secured credit facility maturing in November 2020 (the "2015 Credit Facility"). In May 2020, the Company entered into a new revolving credit agreement with certain lenders, which extinguished the 2015 Credit Facility and provided a $500.0 million senior unsecured revolving credit facility (the "2020 Credit Facility") maturing in May 2023. On May 28, 2020, the Company amended the credit agreement for the 2020 Credit Facility to permit the Company’s wholly owned subsidiary, Square Capital, LLC (“Square Capital”), to incur indebtedness in an aggregate principal amount of up to $500.0 million pursuant to the Paycheck Protection Program Liquidity Facility (“PPPLF) authorized under the Federal Reserve Act of 1913. In connection with its convertible debt offerings in November 2020, the Company entered into a second amendment to the credit agreement on November 9, 2020 to permit convertible debt in an aggregate principal amount not to exceed $3.6 billion. On January, 28, 2021, the Company entered into a third amendment to the credit agreement for the 2020 Credit Facility to increase the amount of indebtedness that Square Capital is permitted to incur pursuant to the PPPLF from an aggregate principal amount of up to $500 million to an aggregate principal amount of up to $1.0 billion. Loans under the 2020 Credit Facility bear interest, at the Company’s option of (i) a base rate based on the highest of the prime rate, the federal funds rate plus 0.50% and the adjusted LIBOR rate plus 1.00%, in each case, plus a margin ranging from 0.25% to 0.75%, or (ii) an adjusted LIBOR rate plus a margin ranging from 1.25% to 1.75%. The credit agreement includes provisions allowing the Company to replace or update LIBOR with a replacement rate. This margin is determined based on the Company’s total leverage ratio, as defined in the agreement. The 2020 Credit Facility contains customary affirmative and negative covenants typical for a financing of this type that, among other things, restricts the Company and certain subsidiaries’ to incur additional indebtedness, create liens, merge or consolidate or make certain dispositions, pay dividends and make distributions, enter into restrictive agreements, enter into agreements with affiliates, and make certain investments and acquisitions. The 2020 Credit Facility also contains a financial covenant that requires the Company to maintain a quarterly minimum liquidity amount of at least $250.0 million, tested on a quarterly basis. The Company is obligated to pay customary fees for a credit facility of this size and type including an unused commitment fee of 0.15%. To date no funds have been drawn under and no letters of credit have been issued under the 2020 Credit Facility, and as of December 31, 2020, $500.0 million remained available for draw. The Company incurred $0.7 million and $0.6 million in unused commitment fees for the years ended December 31, 2020 and 2019, respectively. As of December 31, 2020, the Company was in compliance with all financial covenants associated with the 2020 Credit Facility. Paycheck Protection Program Liquidity Facility On June 2, 2020, Square Capital was approved to borrow under the PPPLF with the Federal Reserve Bank of San Francisco, at an annual interest rate of 0.35%. The PPPLF extends credit to eligible financial institutions that have originated or purchased PPP loans. Advances under the PPPLF are non-recourse and are secured by a pledge of PPP loans held by Square Capital. The maturity date of any PPPLF loan will be the maturity date of the PPP loans pledged to secure such PPPLF loan. The maturity date of any PPPLF loan will be accelerated on and to the extent of (i) the date of any loan forgiveness reimbursement by the SBA for any PPP loan securing such PPPLF loan; or (ii) the date of purchase by the SBA from Square Capital of any PPP loan securing such PPPLF loan to realize on the SBA’s guarantee of such PPP loan. The maturity date of all PPPLF Loans shall be accelerated upon the occurrence of certain events of default by Square Capital, including but not limited to the failure to comply with a requirement of the PPPLF agreement or any representation, warranty, or covenant of Square Capital under the PPPLF agreement being inaccurate on or as of the date it is deemed to be made or on any date on which an PPPLF loan remains outstanding. The Company can also at its option prepay the advances in full or in part without penalty. Square Capital also shall prepay PPPLF loans so that the amount of any PPPLF loans outstanding does not exceed the outstanding amount of PPP loans pledged to secure such PPPLF loans. As of December 31, 2020, $464.1 million of PPPLF advances were outstanding. Subsequent to the balance sheet date, approximately $376.3 million of PPPLF advances were outstanding and collateralized by the same value of the PPP loans as of February 23, 2021. Convertible Senior Notes due in 2026 and 2027 On November 13, 2020, the Company issued an aggregate principal amount of $1.150 billion of convertible senior notes comprised of $575 million of convertible senior notes due 2026 (2026 Notes) and $575 million of convertible senior due 2027 (2027 Notes). The 2026 Notes mature on May 1, 2026, unless earlier converted or repurchased, and bears a zero rate of interest and the principal will not accrete. The 2027 Notes mature on November 1, 2027, unless earlier converted or repurchased, and bear interest at a rate of 0.25% payable semi-annually on May 1 and November 1 of each year. Both the 2026 and 2027 Notes are convertible at an initial conversion rate of 3.3430 shares of the Company's Class A common stock per $1,000 principal amount, which is equivalent to an initial conversion price of approximately $299.13 per share of Class A common stock. Holders may convert their relevant series of notes at any time prior to the close of business on the business day immediately preceding February 1, 2026, and August 1, 2027 for the 2026 Notes and 2027 Notes, respectively, only under the following circumstances: (1) during any calendar quarter, commencing after the calendar quarter ending on March 31, 2021 (and only during such calendar quarter), if the last reported sale price of the Company’s Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the measurement period) in which the trading price (as defined in the indenture governing the 2026 and 2027 Notes) per $1,000 principal amount of 2026 and 2027 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s Class A common stock and the conversion rate on each such trading day; (3) if the Company calls any or all of the 2026 Notes and 2027 Notes for redemption, such relevant series of notes called for redemption may be converted at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events, including certain distributions, the occurrence of a fundamental change (as defined in the indenture governing the 2026 Notes and 2027 Notes) or a transaction resulting in the Company’s Class A common stock converting into other securities or property or assets. In addition, upon occurrence of the specified corporate events prior to the maturity date, the Company would increase the conversion rate for a holder who elects to convert their relevant series of notes in connection with such an event in certain circumstances. On or after February 1, 2026 in the case of the 2026 Notes, and on or after August 1, 2027 in the case of the 2027 Notes, up until the close of business on the second scheduled trading day immediately preceding the maturity date, a holder of the relevant series of notes may convert all or any portion of its 2026 Notes or 2027 Notes regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its Class A common stock, or a combination of cash and shares of its Class A common stock, at the Company’s election. The circumstances required to allow the holders to convert their 2026 and 2027 Notes were not met during the period ended December 31, 2020. On or after November 5, 2023 for the 2026 Notes, and on or after November 5, 2024 for the 2027 Notes, the Company may redeem all or a portion of each series of notes for cash all or any part at its option, if the last reported sale price of the Company's Class A common stock has been at least 130% of the conversion price for the relevant series of notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2026 Notes and 2027 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. In accounting for the issuance of the 2026 and 2027 Notes, the Company separated the relevant series of notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was $198.0 million and was determined by deducting the fair value of the liability component from the par value of the 2026 Notes and the 2027 Notes. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. The excess of the principal amount of the liability component over its carrying amount ("debt discount") is amortized to interest expense over the term of the 2026 and 2027 Notes at an effective interest rate of 3.35% and 3.66% over the contractual terms of the 2026 and 2027 Notes, respectively. Debt issuance costs related to the 2026 and 2027 Notes were comprised of discounts and commissions payable to the initial purchasers of $17.5 million and third party offering costs of $1.0 million. The Company allocated the total amount incurred to the liability and equity components of the 2026 and 2027 Notes based on their relative values. Issuance costs attributable to the liability component were $15.4 million and will be amortized to interest expense using the effective interest method over the contractual term. Issuance costs attributable to the equity component were netted with the equity component in stockholders’ equity. As of December 31, 2020, the if-converted value of the 2026 and 2027 Notes did not exceed the outstanding principal amount. Convertible Senior Notes due in 2025 On March 5, 2020, the Company issued an aggregate principal amount of $1.0 billion of convertible senior notes (2025 Notes). The 2025 Notes mature on March 1, 2025, unless earlier converted or repurchased, and bear interest at a rate of 0.1250% payable semi-annually on March 1 and September 1 of each year. The 2025 Notes are convertible at an initial conversion rate of 8.2641 shares of the Company's Class A common stock per $1,000 principal amount of 2025 Notes, which is equivalent to an initial conversion price of approximately $121.01 per share of Class A common stock. Holders may convert their 2025 Notes at any time prior to the close of business on the business day immediately preceding December 1, 2024 only under the following circumstances: (1) during any calendar quarter, commencing after the calendar quarter ending on June 30, 2020 (and only during such calendar quarter), if the last reported sale price of the Company’s Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the measurement period) in which the trading price (as defined in the indenture governing the 2025 Notes) per $1,000 principal amount of 2025 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s Class A common stock and the conversion rate on each such trading day; (3) if the Company calls any or all of the 2025 Notes for redemption, such 2025 Notes called for redemption may be converted at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events, including certain distributions, the occurrence of a fundamental change (as defined in the indenture governing the 2025 Notes) or a transaction resulting in the Company’s Class A common stock converting into other securities or property or assets. In addition, upon occurrence of the specified corporate events prior to the maturity date, the Company would increase the conversion rate for a holder who elects to convert their 2025 Notes in connection with such an event in certain circumstances. On or after December 1, 2024, up until the close of business on the second scheduled trading day immediately preceding the maturity date, a holder may convert all or any portion of its 2025 Notes regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its Class A common stock, or a combination of cash and shares of its Class A common stock, at the Company’s election. The circumstances required to allow the holders to convert their 2025 Notes were not met during the period ended December 31, 2020. The Company may redeem for cash all or any part of the 2025 Notes, at its option, on or after March 5, 2023, if the last reported sale price of the Company's Class A common stock has been at least 130% of the conversion price for the 2025 Notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2025 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. In accounting for the issuance of the 2025 Notes, the Company separated the 2025 Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was $154.6 million and was determined by deducting the fair value of the liability component from the par value of the 2025 Notes. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. The excess of the principal amount of the liability component over its carrying amount ("debt discount") is amortized to interest expense over the term of the 2025 Notes at an effective interest rate of 3.81% over the contractual terms of the 2025 Notes. Debt issuance costs related to the 2025 Notes were comprised of discounts and commissions payable to the initial purchasers of $14.3 million and third party offering costs of $0.9 million. The Company allocated the total amount incurred to the liability and equity components of the 2025 Notes based on their relative values. Issuance costs attributable to the liability component were $12.8 million and will be amortized to interest expense using the effective interest method over the contractual term. Issuance costs attributable to the equity component were netted with the equity component in stockholders’ equity. As of December 31, 2020, the if-converted value of the 2025 Notes exceeded the outstanding principal amount by $798.6 million. Convertible Senior Notes due in 2023 On May 25, 2018, the Company issued an aggregate principal amount of $862.5 million of convertible senior notes (2023 Notes). The 2023 Notes mature on May 15, 2023, unless earlier converted or repurchased, and bear interest at a rate of 0.50% payable semi-annually on May 15 and November 15 of each year. The 2023 Notes are convertible at an initial conversion rate of 12.8456 shares of the Company's Class A common stock per $1,000 principal amount of 2023 Notes, which is equivalent to an initial conversion price of approximately $77.85 per share of Class A common stock. Holders may convert their 2023 Notes at any time prior to the close of business on the business day immediately preceding February 15, 2023 only under the following circumstances: (1) during any calendar quarter (and only during such calendar quarter), if the last reported sale price of the Company’s Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the measurement period) in which the trading price (as defined in the indenture governing the 2023 Notes) per $1,000 principal amount of 2023 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s Class A common stock and the conversion rate on each such trading day; or (3) upon the occurrence of specified corporate events, including certain distributions, the occurrence of a fundamental change (as defined in the indenture governing the 2023 Notes) or a transaction resulting in the Company’s Class A common stock converting into other securities or property or assets. On or after February 15, 2023, up until the close of business on the second scheduled trading day immediately preceding the maturity date, a holder may convert all or any portion of its 2023 Notes regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its Class A common stock, or a combination of cash and shares of its Class A common stock, at the Company’s election. The Company will reevaluate this policy from time to time as conversion notices are received from holders of the 2023 Notes. The circumstances to allow the holders to convert their 2023 Notes were met in the fourth quarter of 2020. In accounting for the issuance of the 2023 Notes, the Company separated the 2023 Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was $155.3 million and was determined by deducting the fair value of the liability component from the par value of the 2023 Notes. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. The excess of the principal amount of the liability component over its carrying amount ("debt discount") is amortized to interest expense over the term of the 2023 Notes at an effective interest rate of 4.69% over the contractual terms of the 2023 Notes. Debt issuance costs related to the 2023 Notes comprised of discounts and commissions payable to the initial purchasers of $6.0 million and third party offering costs of $0.8 million. The Company allocated the total amount incurred to the liability and equity components of the 2023 Notes based on their relative values. Issuance costs attributable to the liability component were $5.6 million and will be amortized to interest expense using the effective interest method over the contractual term. Issuance costs attributable to the equity component were netted with the equity component in stockholders’ equity. As of December 31, 2020, the if-converted value of the 2023 Notes exceeded the outstanding principal amount by $1,548.8 million. Convertible Senior Notes due in 2022 On March 6, 2017, the Company issued an aggregate principal amount of $440.0 million of convertible senior notes (2022 Notes). The 2022 Notes mature on March 1, 2022, unless earlier converted or repurchased, and bear interest at a rate of 0.375% payable semi-annually on March 1 and September 1 of each year. The 2022 Notes are convertible at an initial conversion rate of 43.5749 shares of the Company's Class A common stock per $1,000 principal amount of 2022 Notes, which is equivalent to an initial conversion price of approximately $22.95 per share of Class A common stock. Holders may convert their 2022 Notes at any time prior to the close of business on the business day immediately preceding December 1, 2021 only under the following circumstances: (1) during any calendar quarter (and only during such calendar quarter), if the last reported sale price of the Company’s Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the measurement period) in which the trading price (as defined in the indenture governing the 2022 Notes) per $1,000 principal amount of 2022 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s Class A common stock and the conversion rate on each such trading day; or (3) upon the occurrence of specified corporate events, including certain distributions, the occurrence of a fundamental change (as defined in the indenture governing the 2022 Notes) or a transaction resulting in the Company’s Class A common stock converting into other securities or property or assets. On or after December 1, 2021, up until the close of business on the second scheduled trading day immediately preceding the maturity date, a holder may convert all or any portion of its 2022 Notes regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its Class A common stock, or a combination of cash and shares of its Class A common stock, at the Company’s election. The circumstances required to allow the holders to convert their 2022 Notes were met starting January 1, 2018 and continued to be met through December 31, 2020. As of December 31, 2020, certain holders of the 2022 Notes have converted an aggregate principal amount of $431.5 million of their Notes, of which $203.2 million was converted during the year ended December 31, 2020. The Company has settled the conversions through a combination of $219.4 million in cash and issuance of 16.1 million shares of the Company's Class A common stock. The conversions during the year ended December 31, 2020 were settled entirely in shares of the Company's Class A common stock. The Company will reevaluate this policy from time to time as conversion notices are received from holders of the 2022 Notes. In accounting for the issuance of the 2022 Notes, the Company separated the 2022 Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was $86.2 million and was determined by deducting the fair value of the liability component from the par value of the 2022 Notes. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. The debt discount is amortized to interest expense over the term of the 2022 Notes at an effective interest rate of 5.34% over the contractual terms of the 2022 Notes. Debt issuance costs related to the 2022 Notes comprised of discounts and commissions payable to the initial purchasers of $11.0 million and third party offering costs of $0.8 million. The Company allocated the total amount incurred to the liability and equity components of the 2022 Notes based on their relative values. Issuance costs attributable to the liability component were $9.4 million and will be amortized to interest expense using the effective interest method over the contractual term. Issuance costs attributable to the equity component were netted with the equity component in stockholders’ equity. The debt component associated with the 2022 Notes that were converted was accounted for as an extinguishment of debt, with the Company recording loss on extinguishment of $11.7 million, of which $6.7 million was recorded during the year ended December 31, 2020, as the difference between the estimated fair value and the carrying value of such 2022 Notes. The equity component associated with the 2022 Notes that were converted was accounted for as a reacquisition of equity upon the conversion of such 2022 Notes. As of December 31, 2020, the if-converted value of the 2022 Notes exceeded the outstanding principal amount by $72.5 million. The net carrying amount of the Notes were as follows (in thousands): Principal outstanding Unamortized debt discount Unamortized debt issuance costs Net carrying value December 31, 2020 2027 Notes $ 575,000 $ (109,134) $ (7,370) $ 458,496 2026 Notes 575,000 (85,085) (7,711) 482,204 2025 Notes 1,000,000 (130,335) (11,333) 858,332 2023 Notes 862,500 (79,980) (2,474) 780,046 2022 Notes 8,545 (629) (70) 7,846 Total $ 3,021,045 $ (405,163) $ (28,958) $ 2,586,924 December 31, 2019 2023 Notes $ 862,500 $ (110,518) $ (3,418) $ 748,564 2022 Notes 211,726 (19,312) (2,146) 190,268 Total $ 1,074,226 $ (129,830) $ (5,564) $ 938,832 The net carrying amount of the equity component of the Notes were as follows (in thousands): Amount allocated to conversion option Less: allocated issuance costs Equity component, net December 31, 2020 2027 Notes $ 111,000 $ (1,793) $ 109,207 2026 Notes 87,000 (1,405) 85,595 2025 Notes 154,600 (2,342) 152,258 2023 Notes 155,250 (1,231) 154,019 2022 Notes 1,674 (45) 1,629 Total $ 509,524 $ (6,816) $ 502,708 Amount allocated to conversion option Less: allocated issuance costs Equity component, net December 31, 2019 2023 Notes $ 155,250 $ (1,231) $ 154,019 2022 Notes 41,481 (1,108) 40,373 Total $ 196,731 $ (2,339) $ 194,392 The Company recognized interest expense on the Notes as follows (in thousands, except for percentages): Year Ended December 31, 2020 2019 2018 Contractual interest expense $ 6,078 $ 5,108 $ 4,023 Amortization of debt discount and issuance costs 67,979 39,139 32,855 Total $ 74,057 $ 44,247 $ 36,878 The effective interest rate of the liability component is 3.66%, 3.35%, 3.81%, 4.69% and 5.34% for the 2027 Notes, 2026 Notes, 2025 Notes, 2023 Notes and 2022 Notes, respectively. Convertible Note Hedge and Warrant Transactions In connection with the offering of the 2027 Notes, the Company entered into convertible note hedge transactions (2027 convertible note hedges) with certain financial institution counterparties (2027 Notes Counterparties) whereby the Company has the option to purchase a total of approximately 1.92 million shares of its Class A common stock at a price of approximately $299.13 per share. The total cost of the 2027 convertible note hedge transactions was $104.3 million. In addition, the Company sold warrants (2027 warrants) to the 2027 Notes Counterparties whereby the 2027 Notes Counterparties have the option to purchase a total of 1.92 million shares of the Company’s Class A common stock at a price of approximately $414.18 per share for the warrants. The Company received $68.0 million in cash proceeds from the sale of the 2027 warrants. Taken together, the purchase of the 2027 convertible note hedges and sale of the 2027 warrants are intended to reduce dilution from the conversion of the 2027 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of the converted 2027 Notes, as the case may be, and to effectively increase the overall conversion price from approximately $299.13 per share to approximately $414.18 per share for the 2027 warrants. As these instruments are considered indexed to the Company's own stock and are considered equity classified, the 2027 convertible note hedges and 2027 warrants are recorded in stockholders’ equity, are not accounted for as derivatives and are not remeasured each reporting period. The net costs incurred in connection with the 2027 convertible note hedge and 2027 warrant transactions were recorded as a reduction to additional paid-in capital on the consolidated balance sheets. In connection with the offering of the 2026 Notes, the Company entered into convertible note hedge transactions (2026 convertible note hedges) with certain financial institution counterparties (2026 Notes Counterparties) whereby the Company has the option to purchase a total of approximately 1.92 million shares of its Class A common stock at a price of approximately $299.13 per share. The total cost of the 2026 convertible note hedge transactions was $84.6 million. In addition, the Company sold warrants (2026 warrants) to the 2026 Notes Counterparties whereby the 2026 Notes Counterparties have the option to purchase a total of 1.92 million shares of the Company’s Class A common stock at a price of approximately $368.16 per share for the 2026 warrants. The Company received $64.6 million in cash proceeds from the sale of the 2026 warrants. Taken together, the purchase of the 2026 convertible note hedges and sale of the 2026 warrants are intended to reduce dilution from the conversion of the 2026 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of the converted 2026 Notes, as the case may be, and to effectively increase the overall conversion price from approximately $299.13 per share to approximately $368.16 per share for the 2026 warrants. As these instruments are considered indexed to the Company's own stock and are considered equity classified, the 2026 convertible note hedges and 2026 warrants are recorded in stockholders’ equity, are not accounted for as derivatives and are not remeasured each reporting period. The net costs incurred in connection with the 2026 convertible note hedge and 2026 warrant transactions were recorded as a reduction to additional paid-in capital on the consolidated balance sheets. In connection with the offering of the 2025 Notes, the Company entered into convertible note hedge transactions (2025 convertible note hedges) with certain financial institution counterparties (2025 Notes Counterparties) whereby the Company has the option to purchase a total of approximately 8.26 million shares of its Class A common stock at a price of approximately $121.01 per share. The total cost of the 2025 convertible note hedge transactions was $149.2 million. In addition, the Company sold warrants (2025 warrants) to the 2025 Notes Counterparties whereby the 2025 Notes Counterparties have the option to purchase a total of 8.26 million shares of the Company’s Class A common stock at a price of approximately $161.34 per share. The Company received $99.5 million in cash proceeds from the sale of the 2025 warrants. Taken together, the purchase of the 2025 convertible note hedges and sale of the 2025 warrants are intended to reduce dilution from the conversion of the 2025 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of the converted 2025 Notes, as the case may be, and to effectively increase the overall conversion price from approximately $121.01 pe

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The domestic and foreign components of income (loss) before income taxes are as follows (in thousands): Year Ended December 31, 2020 2019 2018 Domestic $ 369,016 $ 456,335 $ 44,538 Foreign (153,049) (78,122) (80,665) Income (loss) before income taxes $ 215,967 $ 378,213 $ (36,127) The components of the provision for income taxes are as follows (in thousands): Year Ended December 31, 2020 2019 2018 Current: Federal $ — $ 114 $ (4) State 4,016 930 752 Foreign 6,862 3,099 2,224 Total current provision for income taxes 10,878 4,143 2,972 Deferred: Federal (970) (777) (404) State (231) (399) 35 Foreign (6,815) (200) (277) Total deferred provision for income taxes (8,016) (1,376) (646) Total provision for income taxes $ 2,862 $ 2,767 $ 2,326 The following is a reconciliation of the statutory federal income tax rate to the Company's effective tax rate: Balance at December 31, 2020 2019 2018 Tax at federal statutory rate 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit 0.3 0.1 (1.1) Foreign rate differential 4.0 1.4 (14.7) Non-deductible meals 0.3 0.3 (3.4) Other non-deductible expenses 2.4 0.2 (0.9) Credits (34.6) (13.9) 164.8 Other items 2.2 (0.5) 2.3 Change in valuation allowance 153.9 34.9 (718.5) Share-based compensation (155.4) (45.8) 549.0 Change in uncertain tax positions 2.3 0.5 (4.1) Sale of Caviar business line — 1.2 — Non-deductible executive compensation 3.6 0.6 — Non-deductible acquisition-related costs 1.3 0.7 (0.8) Total 1.3 % 0.7 % (6.4) % The tax effects of temporary differences and related deferred tax assets and liabilities are as follows (in thousands): Balance at December 31, 2020 2019 Deferred tax assets: Capitalized costs $ 17,994 $ 23,708 Accrued expenses 47,653 33,044 Net operating loss carryforwards 962,069 575,245 Tax credit carryforwards 254,789 183,977 Share-based compensation 40,784 38,427 Deferred Interest 13,800 4,072 Other — 3,424 Operating Lease, net — 5,761 Total deferred tax assets 1,337,089 867,658 Valuation allowance (1,238,010) (859,564) Total deferred tax assets, net of valuation allowance 99,079 8,094 Deferred tax liabilities: Property, equipment and intangible assets (12,784) (6,862) Indefinite-lived intangibles (352) (253) Other (1,115) — Operating Lease, net (3,625) — Unrealized gain on investments (73,425) — Total deferred tax liabilities (91,301) (7,115) Net deferred tax assets (liabilities) $ 7,778 $ 979 Realization of deferred tax assets is dependent upon the generation of future taxable income, the timing and amount of which are uncertain. Due to the history of tax losses generated in the U.S. and certain foreign jurisdictions, the Company believes that it is more likely than not that its deferred tax assets in these jurisdictions will not be realized as of December 31, 2020. Accordingly, the Company retained a full valuation allowance on its deferred tax assets in these jurisdictions. The amount of deferred tax assets considered realizable in future periods may change as management continues to reassess the underlying factors it uses in estimating future taxable income. The valuation allowance increased by approximately $378.4 million and $140.5 million during the years ended December 31, 2020, and 2019, respectively. As of December 31, 2020, the Company had $3,472.5 million of federal, $3,888.9 million of state, and $500.2 million of foreign net operating loss carryforwards, which will begin to expire in 2031 for federal and 2021 for state tax purposes. The foreign net operating loss carryforwards do not expire. As of December 31, 2020, the Company had $196.8 million of federal, $123.3 million of state, $2.7 million of Canadian, and $4.2 million of Australian research credit carryforwards. The federal credit carryforward will begin to expire in 2029, the state credit carryforward has no expiration date, the Canadian research credit carryforward will begin to expire in 2037, and the Australian research credit has no expiration date. The Company has California Enterprise Zone credit carryforwards of $3.4 million, which will begin to expire in 2023. Utilization of the net operating loss carryforwards and credits may be subject to annual limitations due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended, and similar state provisions. The annual limitations may result in the expiration of net operating losses and credits before they are able to be utilized. The Company does not expect any previous ownership changes, as defined under Section 382 and 383 of the Internal Revenue Code, to result in an ultimate limitation that will materially reduce the total amount of net operating loss carryforwards and credits that can be utilized. As of December 31, 2020, the Company had unrecognized tax benefit was $295.2 million, of which $13.2 million would impact the annual effective tax rate if recognized and the remainder of which would result in a corresponding adjustment to the valuation allowance. A reconciliation of the beginning and ending amount of unrecognized tax benefit is presented below (in thousands): Year Ended December 31, 2020 2019 2018 Balance at the beginning of the year $ 217,574 $ 198,540 $ 70,799 Gross increases and decreases related to prior period tax positions (2,615) (11,571) 513 Gross increases and decreases related to current period tax positions 77,235 30,676 119,261 Reductions related to lapse of statute of limitations (49) (149) (142) Gross increases related to acquisitions 3,037 78 8,109 Balance at the end of the year $ 295,182 $ 217,574 $ 198,540 The Company recognizes interest and penalties related to income tax matters as a component of income tax expense. The Company had total accrued interest and penalties of $1.4 million, $0.5 million, and $0.3 million related to uncertain tax positions for the years ended December 31, 2020, 2019, and 2018, respectively. It is reasonably possible that over the next 12-month period the Company may experience a decrease in its unrecognized tax benefits as a result of tax examinations or lapses of statute of limitations. The estimated decrease in unrecognized tax benefits may range up to $11.4 million. The Company is subject to taxation in the United States and various state and foreign jurisdictions. The Company is currently under examination in California for tax years 2013 and 2014 and in Texas for tax years 2015-2017. The Company’s various tax years starting with 2009 to 2019 remain open in various taxing jurisdictions.

STOCKHOLDER'S EQUITY

STOCKHOLDER'S EQUITY	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
STOCKHOLDER'S EQUITY	STOCKHOLDERS' EQUITY Convertible Preferred Stock As of December 31, 2020, the Company is authorized to issue 100,000,000 shares of preferred stock, with a $0.0000001 par value. No shares of preferred stock are outstanding as of December 31, 2020. Common Stock The Company has authorized the issuance of Class A common stock and Class B common stock. Holders of the Company's Class A common stock and Class B common stock are entitled to dividends when, as and if, declared by the Company's board of directors, subject to the rights of the holders of all classes of stock outstanding having priority rights to dividends. As of December 31, 2020, the Company did not declare any dividends. Holders of shares of Class A common stock are entitled to one vote per share, while holders of shares of Class B common stock are entitled to ten votes per share. Shares of the Company's Class B common stock are convertible into an equivalent number of shares of its Class A common stock and generally convert into shares of its Class A common stock upon transfer. The holders of Class A common stock and Class B common stock have no preemptive or other subscription rights and there are no redemption or sinking fund provisions with respect to such shares. Class A common stock and Class B common stock are referred to as "common stock" throughout these Notes to the Consolidated Financial Statements, unless otherwise noted. As of December 31, 2020, the Company was authorized to issue 1,000,000,000 shares of Class A common stock and 500,000,000 shares of Class B common stock, each with a par value of $0.0000001 per share. As of December 31, 2020, there were 390,187,079 shares of Class A common stock and 65,997,697 shares of Class B common stock outstanding. Options and awards granted following the Company's November 2015 initial public offering are related to underlying Class A common stock. Additionally, holders of Class B common stock are able to convert such shares into Class A common stock. Warrants In conjunction with the 2022 Notes offering, the Company sold the 2022 warrants whereby the counterparties have the option to purchase a total of approximately 19.2 million shares of the Company’s Class A common stock at a price of $31.18 per share. None of the warrants were exercised as of December 31, 2020. In conjunction with the 2023 Notes offering, the Company sold the 2023 warrants whereby the counterparties have the option to purchase a total of approximately 11.1 million shares of the Company’s Class A common stock at a price of $109.26 per share. None of the warrants were exercised as of December 31, 2020. In conjunction with the 2025 Notes offering, the Company sold the 2025 warrants whereby the counterparties have the option to purchase a total of approximately 8.3 million shares of the Company’s Class A common stock at a price of $161.34 per share. None of the warrants were exercised as of December 31, 2020. In conjunction with the 2026 Notes offering, the Company sold the 2026 warrants whereby the counterparties have the option to purchase a total of approximately 1.9 million shares of the Company’s Class A common stock at a price of $368.16 per share. None of the warrants were exercised as of December 31, 2020. In conjunction with the 2027 Notes offering, the Company sold the 2027 warrants whereby the counterparties have the option to purchase a total of approximately 1.9 million shares of the Company’s Class A common stock at a price of $414.18 per share. None of the warrants were exercised as of December 31, 2020. Indemnification Arrangements During the year ended December 31, 2019, the Company received 20,793 shares of common stock, respectively, that were forfeited back to the Company as indemnification against liabilities related to certain acquired businesses preacquisition matters. The receipt of the forfeited shares was accounted for as equity repurchases. The Company did not receive any shares related to indemnification arrangements in the year ended December 31, 2020. Conversion of 2022 Notes and Exercise of the 2022 Convertible Note Hedges In connection with the conversion of certain of the 2022 Notes, the Company issued 16.1 million shares of Class A common stock, of which 8.9 million shares were issued in the year ended December 31, 2020. The Company also exercised a pro-rata portion of the 2022 convertible note hedges and received 9.4 million shares of Class A common stock from the counterparties to offset the shares issued, of which 2.2 million shares were received in the year ended December 31, 2020. Stock Plans The Company maintains two share-based employee compensation plans: the 2009 Stock Plan (2009 Plan) and the 2015 Equity Incentive Plan (2015 Plan). The 2015 Plan serves as the successor to the 2009 Plan. The 2015 Plan became effective as of November 17, 2015. Outstanding awards under the 2009 Plan continue to be subject to the terms and conditions of the 2009 Plan. Since November 17, 2015, no additional awards have been nor will be granted in the future under the 2009 Plan. Under the 2015 Plan, shares of the Company's Class A common stock are reserved for the issuance of incentive and nonstatutory stock options (ISOs and NSOs, respectively), restricted stock awards (RSAs), restricted stock units (RSUs), performance shares, and stock bonuses to qualified employees, directors, and consultants. The awards must be granted at a price per share not less than the fair market value at the date of grant. Initially, 30,000,000 shares were reserved under the 2015 Plan and any shares subject to options or other similar awards granted under the 2009 Plan that expire, are forfeited, are repurchased by the Company or otherwise terminate unexercised will become available under the 2015 Plan. The number of shares available for issuance under the 2015 Plan will be increased on the first day of each fiscal year, in an amount equal to the least of (i) 40,000,000 shares, (ii) 5% of the outstanding shares on the last day of the immediately preceding fiscal year, or (iii) such number of shares determined by the administrator of the Plan. The administrator consists of the Board of Directors who then assigns the responsibilities to the Compensation Committee. As of December 31, 2020, the total number of shares subject to stock options, RSAs and RSUs outstanding under the 2015 Plan was 19,905,044 shares, and 98,430,662 shares were available for future issuance. Under the 2009 Plan, shares of common stock are reserved for the issuance of ISOs or NSOs to eligible participants. The options may be granted at a price per share not less than the fair market value at the date of grant. Options granted generally vest over a 4 year term from the date of grant, at a rate of 25% after one year, then monthly on a straight-line basis thereafter. Generally, options granted are exercisable for up to 10 years from the date of grant. The Plan allows for early exercise of employee stock options whereby the option holder is allowed to exercise prior to vesting. Any unvested shares are subject to repurchase by the Company at their original exercise prices. As of December 31, 2020, the total number of options and RSUs outstanding under the 2009 Plan was 9,348,483 shares. A summary of stock option activity for the year ended December 31, 2020 is as follows (in thousands, except share and per share data): Number of Stock Options Outstanding Weighted Weighted Aggregate Balance at December 31, 2019 23,619,804 $ 12.66 4.89 $ 1,191,746 Granted 1,538,109 59.46 Exercised (11,017,713) 10.54 Forfeited (509,318) 60.65 Balance at December 31, 2020 13,630,882 $ 17.84 3.84 $ 2,723,394 Options exercisable as of December 31, 2020 12,034,630 $ 12.11 3.18 $ 2,473,439 Aggregate intrinsic value represents the difference between the Company’s estimated fair value of its common stock and the exercise price of outstanding, “in-the-money” options. Aggregate intrinsic value for stock options exercised for the years ended December 31, 2020, 2019, and 2018 was $1.2 billion, $616.3 million, and $720.1 million, respectively. The total weighted average grant-date fair value of options granted was $27.04, $30.58 and $16.25 per share for the years ended December 31, 2020, 2019 and 2018, respectively. Restricted Stock Activity The Company issues RSAs and RSUs under the 2015 Plan, which typically vest over a term of four years. Activity related to RSAs and RSUs during the year ended December 31, 2020 is set forth below: Number of Weighted Unvested as of December 31, 2019 13,917,461 $ 49.90 Granted 10,727,210 78.29 Vested (7,402,353) 43.31 Forfeited (1,619,673) 58.12 Unvested as of December 31, 2020 15,622,645 $ 71.71 The total fair value of shares vested in the year ended December 31, 2020, 2019, and 2018 were $817.5 million, $552.9 million, and $489.3 million, respectively. Employee Stock Purchase Plan On November 17, 2015, the Company’s 2015 Employee Stock Purchase Plan (ESPP) became effective. The ESPP allows eligible employees to purchase shares of the Company’s common stock at a discount through payroll deductions of up to 15% of their eligible compensation, (or 25% for offering periods that commence after November 1, 2019), subject to any plan limitations. The ESPP provides for 12-month offering periods. The offering periods are scheduled to start on the first trading day on or after May 15 and November 15 of each year. Each offering period includes two purchase periods, which begin on the first trading day on or after November 15 and May 15, and ending on the last trading day on or before May 15 and November 15, respectively. Employees are able to purchase shares at 85% of the lower of the fair market value of the Company’s common stock on the first trading day of the offering period or the last trading day of the purchase period. The number of shares available for sale under the ESPP will be increased annually on the first day of each fiscal year, equal to the least of (i) 8,400,000 shares, (ii) 1% of the outstanding shares of the Company’s common stock as of the last day of the immediately preceding fiscal year, or (iii) such other amount as determined by the administrator. As of December 31, 2020, 5,829,106 shares had been purchased under the ESPP and 17,816,248 shares were available for future issuance under the ESPP. Share-Based Compensation The fair value of stock options granted was estimated using the following weighted-average assumptions: Year Ended December 31, 2020 2019 2018 Dividend yield — % — % — % Risk-free interest rate 0.41 % 2.37 % 2.92 % Expected volatility 48.29 % 40.48 % 30.87 % Expected term (years) 6.02 6.02 6.19 The following table summarizes the effects of share-based compensation on the Company's consolidated statements of operations (in thousands): Year Ended December 31, 2020 2019 2018 Cost of revenue $ 368 $ 155 $ 97 Product development 289,553 210,840 144,601 Sales and marketing 36,627 26,720 22,797 General and administrative 70,952 60,148 49,386 Total $ 397,500 $ 297,863 $ 216,881 The Company recorded $18.2 million, $18.9 million, and $9.0 million of share-based compensation expense related to the Company's 2015 Employee Stock Purchase Plan during the years ended December 31, 2020, 2019 and 2018, respectively. The Company capitalized $13.9 million, $8.2 million, and $9.3 million of share-based compensation expense related to capitalized software during the years ended December 31, 2020, 2019 and 2018, respectively.

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE	NET INCOME (LOSS) PER SHARE Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding adjusted for the dilutive effect of all potential shares of common stock. In the years when the Company reported a net loss, diluted loss per share is the same as basic loss per share because the effects of potentially dilutive items were anti-dilutive. The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data): Year Ended December 31, 2020 2019 2018 Net income (loss) $ 213,105 $ 375,446 $ (38,453) Basic shares: Weighted-average common shares outstanding 443,773 425,728 406,313 Weighted-average unvested shares (647) (729) (582) Weighted-average shares used to compute basic net income (loss) per share 443,126 424,999 405,731 Diluted shares: Stock options and restricted stock units 23,378 30,602 — Common stock warrants 15,413 10,432 — Employee stock purchase plan 250 43 — Weighted-average shares used to compute diluted net income (loss) per share $ 482,167 $ 466,076 $ 405,731 Net income (loss) per share: Basic $ 0.48 $ 0.88 $ (0.09) Diluted $ 0.44 $ 0.81 $ (0.09) The following potential common shares were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented (in thousands): Year Ended December 31, 2020 2019 2018 Stock options and restricted stock units 11,309 13,867 60,589 Common stock warrants 22,140 19,820 25,798 Convertible senior notes 25,073 20,305 23,820 Unvested shares 647 728 582 Employee stock purchase plan 553 165 140 Total anti-dilutive securities 59,722 54,885 110,929

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS In July 2019, the Company entered into a lease agreement to lease certain office space located in St. Louis, Missouri, from an affiliate of one of the Company’s co-founders and current member of its board and directors, Mr. Jim McKelvey, under an operating lease agreement as discussed in Note 18, Commitments and Contingencies . The lease commencement date varies by floor beginning in May 2020. The term of the agreement is 15.5 years with total future minimum lease payments over the term of approximately $42.7 million. As of December 31, 2020, the Company had recorded right-of-use assets of $21.6 million and associated lease liabilities of $32.8 million related to this lease arrangement.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Operating and Finance Leases The Company’s operating leases are primarily comprised of office facilities, with the most significant leases relating to corporate headquarters in San Francisco and Oakland, as well as offices in St. Louis, and New York. The Company's leases have remaining lease terms of 1 year to 12 years, some of which include options to extend for 5 year terms, or include options to terminate the leases within 1 year. None of the options to extend the leases have been included in the measurement of the right of use asset or the associated lease liability. In July 2019, the Company entered into a lease arrangement for 226,185 square feet of office space in St Louis, Missouri, with an affiliate of one of the Company’s co-founders, Mr. Jim McKelvey, who is also a Company stockholder and a member of its board of directors, for a term of 15.5 years with options to extend the lease term for two 5 year terms. The Company also has an option to terminate the lease for up to 50% of the leased space any time between January 1, 2024 and December 31, 2026, as well as an option to terminate the lease for the entire property on January 1, 2034. Termination penalties specified in the lease agreement will apply if the Company exercises any of the options to terminate the lease. The lease commencement date varies by floor beginning in May 2020 with total future minimum lease payments over the term of approximately $42.7 million. Refer to Note 17, Related Party Transactions for further details. Year Ended December 31, 2020 2019 Fixed operating lease costs $ 70,254 $ 29,422 Variable operating lease costs 15,625 5,737 Short term lease costs 6,375 2,512 Sublease income (8,594) (3,381) Finance lease costs Amortization of finance right-of-use assets 2,446 5,029 Total lease costs $ 86,106 $ 39,319 Other information related to leases was as follows: December 31, Weighted Average Remaining Lease Term: Operating leases 8.6 years Weighted Average Discount Rate: Operating leases 4 % Cash flows related to leases were as follows (in thousands): Year Ended December 31, 2020 2019 Cash flows from operating activities: Payments for operating lease liabilities $ (46,901) $ (33,340) Cash flows from financing activities: Principal payments on finance lease obligation $ (2,446) $ (5,029) Supplemental Cash Flow Data: Right-of-use assets obtained in exchange for operating lease obligations $ 342,662 $ 40,555 Future minimum lease payments under non-cancelable operating leases (with initial lease terms in excess of one year) as of December 31, 2020 are as follows (in thousands): Operating Year: 2021 $ 70,774 2022 78,724 2023 72,478 2024 54,095 2025 49,430 Thereafter 240,827 Total $ 566,328 Less: amount representing interest 82,811 Less: leases executed but not yet commenced 21,914 Less: lease incentives and transfer to held for sale 19,194 Total $ 442,409 The Company recognized total rental expenses for operating leases of $75.2 million, $32.5 million, and $23.3 million during the years ended December 31, 2020, 2019, and 2018, respectively. The Company is currently subject to, and may in the future be involved in, various litigation matters, legal claims, and investigations. The Company is subject to various legal matters and disputes arising in the ordinary course of business. The Company cannot at this time fairly estimate a reasonable range of exposure, if any, of the potential liability with respect to these matters. Although occasional adverse decisions or settlements may occur, the Company does not believe that the final disposition of any of these matters will have a material adverse effect on its results of operations, financial position, or liquidity. The Company cannot give any assurance regarding the ultimate outcome of these other matters, and their resolution could be material to the Company's operating results for any particular period. Other contingencies On June 15, 2020, the Texas Comptroller’s Office (the “Comptroller”) informed the Company that it had completed its sales and use tax audit for the period from January 1, 2015 through April 30, 2018, and that it would issue a written tax assessment to the Company seeking $38 million, including interest and penalties for this tax audit period. The Comptroller indicated that it believes the services that the Company has deemed to be nontaxable should be subject to sales tax. The Company believes the Comptroller’s position is without merit. Should the Company not prevail, the Company could be obligated to pay additional taxes together with associated penalties and interest for the audited tax period, as well as additional taxes for periods subsequent to the tax audit period, including penalties and interest, that could be material. We are under examination, or may be subject to tax examination, by several tax authorities. These examinations, including the matter discussed above, may lead to proposed adjustments to our taxes or net operating losses with respect to years under examination, as well as subsequent periods. We regularly assess the likelihood of adverse outcomes resulting from tax examinations to determine the adequacy of our provision for direct and indirect taxes. We continue to monitor the progress of ongoing discussions with tax authorities and the effect, if any, on our provision for direct and indirect taxes. We believe that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in our tax audits are resolved in a manner not consistent with the Company’s expectations, we could be required to adjust our provision for direct and indirect taxes in the period such resolution occurs.

SEGMENT AND GEOGRAPHICAL INFORM

SEGMENT AND GEOGRAPHICAL INFORMATION	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHICAL INFORMATION	SEGMENT AND GEOGRAPHICAL INFORMATION Effective June 30, 2020, the Company changed its operating segments to reflect the manner in which the Company's CODM reviews and assesses performance. Accordingly, the Company has two reportable segments, which are Seller and Cash App. Disclosures regarding the Company’s reportable segments for prior periods have been adjusted to conform to the current period presentation. Seller and Cash App are defined as follows: • Seller includes managed payment services, software solutions, hardware, and financial services offered to sellers, excluding those that involve Cash App. • Cash App includes the financial tools available to individuals within the mobile Cash App, including peer to peer (P2P) payments, bitcoin and stock investments. Cash App also includes Cash Card which is linked to customer stored balances that customers can use to pay for purchases or withdraw funds from an ATM. The primary financial measures used by the CODM to evaluate performance and allocate resources are revenue and gross profit. The CODM does not evaluate performance or allocate resources based on segment asset data, and therefore such information is not included. Information on the reportable segments revenue and segment operating profit are as follows (in thousands): Year Ended December 31, 2020 Cash App Seller Total Revenue Transaction-based revenue $ 233,747 $ 3,061,231 $ 3,294,978 Subscription and services-based revenue 1,163,096 376,307 1,539,403 Hardware revenue — 91,654 91,654 Bitcoin revenue 4,571,543 — 4,571,543 Segment revenue 5,968,386 3,529,192 9,497,578 Segment gross profit $ 1,225,578 $ 1,507,831 $ 2,733,409 Year Ended December 31, 2019 Cash App Seller Total Revenue Transaction-based revenue $ 72,865 $ 3,008,209 $ 3,081,074 Subscription and services-based revenue 516,269 369,274 885,543 Hardware revenue — 84,505 84,505 Bitcoin revenue 516,465 — 516,465 Segment revenue 1,105,599 3,461,988 4,567,587 Segment gross profit $ 457,668 $ 1,390,427 $ 1,848,095 Year Ended December 31, 2018 Cash App Seller Total Revenue Transaction-based revenue $ 42,715 $ 2,428,736 $ 2,471,451 Subscription and services-based revenue 220,819 222,279 443,098 Hardware revenue — 68,503 68,503 Bitcoin revenue 166,517 — 166,517 Segment revenue 430,051 2,719,518 3,149,569 Segment gross profit $ 194,835 $ 1,072,496 $ 1,267,331 The amounts in the tables above exclude the Caviar business, a food ordering and delivery platform business, which was sold in the year ended December 31, 2019. A reconciliation of total segment revenues, as indicated above, to the Company's consolidated revenues is as follows (in thousands): Year Ended December 31, 2020 2019 2018 Total segment revenue $ 9,497,578 $ 4,567,587 $ 3,149,569 Caviar revenue — 145,913 148,608 Total net revenue $ 9,497,578 $ 4,713,500 $ 3,298,177 A reconciliation of total segment gross profit to the Company's income before applicable income taxes is as follows (in thousands): Year Ended December 31, 2020 2019 2018 Total segment gross profit $ 2,733,409 $ 1,848,095 $ 1,267,331 Add: Caviar gross profit — 41,590 36,369 Total reported operating gross profit 2,733,409 1,889,685 1,303,700 Less: Product development 881,826 670,606 497,479 Less: Sales and marketing 1,109,670 624,832 411,151 Less: General and administrative 579,203 436,250 339,245 Less: Transaction and loan losses 177,670 126,959 88,077 Less: Amortization of acquired customer assets 3,855 4,481 4,362 Less: Gain on sale of asset group — (373,445) — Less: Interest expense, net 56,943 21,516 17,982 Less: Other expense (income), net (291,725) 273 (18,469) Income (loss) before applicable income taxes $ 215,967 $ 378,213 $ (36,127) Revenue Revenue by geography is based on the addresses of the sellers or customers. The following table sets forth revenue by geographic area (in thousands): Year Ended December 31, 2020 2019 2018 Revenue United States $ 9,186,440 $ 4,472,473 $ 3,138,859 International 311,138 241,027 159,318 Total net revenue $ 9,497,578 $ 4,713,500 $ 3,298,177 No individual country from the international markets contributed in excess of 10% of total revenue for the years ended December 31, 2020, 2019, and 2018. Long-Lived Assets The following table sets forth long-lived assets by geographic area (in thousands): December 31, 2020 2019 Long-lived assets United States $ 1,086,379 $ 586,702 International 58,342 11,064 Total long-lived assets $ 1,144,721 $ 597,766

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION The supplemental disclosures of cash flow information consist of the following (in thousands): Year Ended December 31, 2020 2019 2018 Supplemental Cash Flow Data: Cash paid for interest $ 3,857 $ 5,677 $ 4,125 Cash paid for income taxes 6,001 2,744 1,622 Supplemental disclosures of non-cash investing and financing activities: Right-of-use assets obtained in exchange for operating lease obligations 342,662 40,555 — Change in purchases of property and equipment in accounts payable and accrued expenses (3,975) (419) 15,067 Unpaid business combination purchase price 8,974 8,411 3,995 Non-cash proceeds from sale of asset group — 100,000 — Fair value of common stock issued related to business combination (35,318) — (140,107) Recovery of common stock in connection with indemnification settlement agreement — 789 2,745 Fair value of common stock issued to settle the conversion of senior notes, due 2022 (1,398,829) — (571,408) Fair value of shares received to settle senior note hedges, due 2022 369,015 — 544,276

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On January 28, 2021, the Company entered into a third amendment to the credit agreement for the 2020 Credit Facility to increase the amount of indebtedness that Square Capital is permitted to incur pursuant to the PPPLF from an aggregate principal amount of up to $500 million to an aggregate principal amount of up to $1.0 billion. On January 29, 2021, Square Capital delivered a Paycheck Protection Program Liquidity Facility Letter of Agreement to the Federal Reserve Bank of San Francisco pursuant to which Square Capital intends to request additional advances under the PPPLF, collateralized by loans from the second round of the PPP program. As of February 23, 2021, approximately $376.3 million of PPPLF advances were outstanding and collateralized by the same value of the PPP loans. In February 2021, Square Capital began participating in the second round of the PPP program by accepting applications from certain existing Square customers who received a PPP loan from Square Capital under the first round of PPP in 2020. The application process for the second round of PPP loans was significantly expedited, as borrowers were allowed to use information previously submitted in their first round of funding. These loans are guaranteed by the U.S. government. Additionally, the loans are eligible for forgiveness if the borrowers meet certain criteria. In February 2021, the Company purchased $170 million in bitcoin that it expects to hold as a long term investment. In the evaluation of future potential purchases of bitcoin, the Company will continue to assess its aggregate investment in bitcoin relative to its other investments.

DESCRIPTION OF BUSINESS AND S_2

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, as well as related disclosure of contingent assets and liabilities. Actual results could differ from the Company’s estimates. To the extent that there are material differences between these estimates and actual results, the Company’s financial condition or operating results will be materially affected. The Company bases its estimates on current and past experience, to the extent that historical experience is predictive of future performance and other assumptions that the Company believes are reasonable under the circumstances. The Company evaluates these estimates on an ongoing basis. Estimates, judgments, and assumptions in these consolidated financial statements include, but are not limited to, those related to revenue recognition, accrued transaction losses, contingencies, valuation of the debt component of convertible senior notes, valuation of loans held for sale including loans under the Paycheck Protection Program ("PPP"), valuation of goodwill and acquired intangible assets, deferred revenue, determination of income and other taxes, operating and financing lease right-of-use assets and related liabilities, assessing the likelihood of adverse outcomes from claims and disputes, and share-based compensation. In March 2020, the World Health Organization declared the COVID-19 pandemic a global pandemic. The Company operates in geographic locations that have been impacted by COVID-19 and that are subject to various mandated public health ordinances, which have impacted the business operations of the Company and its customers. As a consequence of the pandemic and evolving public health orders, the Company’s customers will continue to be exposed to various uncertainties that could negatively impact their ability to repay outstanding amounts, or even continue in business. The Company continues to revise and update the carrying values of its assets or liabilities based on estimates, judgments and circumstances it is aware of, particularly, the expected impact of COVID-19. Due to the impact of the COVID-19 pandemic, the Company’s estimates of accrued transaction losses and valuation of loans held for sale were subject to greater uncertainty. The Company's estimates were based on historical experience, adjusted for market data relevant to the current economic environment. Additionally, the Company incorporated market data for similar historical periods of unprecedented economic conditions and uncertainty in developing such estimates and assumptions. See Note 11 Other Consolidated Balance Sheet Components (Current) , for further details on transaction losses and Note 5, Fair Value of Financial Instruments , for further details on amortized cost over fair value of the loans. These estimates may change, as new events develop and additional information is obtained. The Company has continued to refine its estimates for transaction and loan losses based on actual realized results. Actual results could differ from the estimates, and such differences may be material to the Company's financial statements. The extent of the impact of COVID-19 on the Company's operational and financial performance will depend on certain developments, including, but not limited to, the duration, extent of spread and severity of the outbreak, duration and changes to local, state and federal issued public health orders, impact on our customers and our sales cycles, impact on our employees, various government stimulus assistance programs, and impact on regional and worldwide economies and financial markets in genera l,
Revenue Recognition and Cost of Revenue	Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Transaction-based revenue The Company charges its sellers a transaction fee for managed payments solutions that is generally calculated as a percentage of the total transaction amount processed. The Company selectively offers custom pricing for certain sellers. The Company collects the transaction amount from the seller's customer's bank, net of acquiring interchange and assessment fees, processing fees, and bank settlement fees paid to third-party payment processors and financial institutions. The Company retains its fees and remits the net amount to the sellers. The Company acts as the merchant of record for its sellers and works directly with payment card networks and banks so that its sellers do not need to manage the complex systems, rules, and requirements of the payments industry. The Company satisfies its performance obligations and therefore recognizes the transaction fees as revenue upon authorization of a transaction by the seller's customer's bank. The Company applies the optional exemption allowed under ASC 606 not to disclose consideration attributable to performance obligations for future transaction processing since the term of the contract with a seller is not defined and any future consideration on the contract would be dependent on the value and volume of transactions processed in the future, which are not determinable. Revenue is recognized net of refunds, which arise from reversals of transactions initiated by sellers. The transaction fees collected from sellers are recognized as revenue on a gross basis as the Company is the principal in the delivery of the managed payments solutions to the sellers. The Company has concluded it is the principal because as the merchant of record, it controls the services before delivery to the seller, it is primarily responsible for the delivery of the services to its sellers, and it has discretion in setting prices charged to sellers. The Company also has the unilateral ability to accept or reject a transaction based on criteria established by the Company. As the merchant of record, Square is liable for the costs of processing the transactions for its sellers, and records such costs within cost of revenue. Subscription and services-based revenue Subscription and services-based revenue is primarily comprised of revenue the Company generates from Instant Deposit and Cash Card, Square Capital, website hosting and domain name registration services, and various other software as a service (SaaS) products. Instant Deposit is a functionality within the Cash App and the Company's managed payments solution that enables customers, including individuals and sellers, to instantly deposit funds into their bank accounts. The Company charges a per transaction fee which is recognized as revenue when customers instantly deposit funds to their bank account. The Company also offers Cash App customers the ability to use funds stored in the Cash App via a Visa prepaid card (Cash Card), for which the Company charges a per transaction fee that is recorded as revenue. Square Capital facilitates a loan that is offered through a partnership with an industrial bank that is either repaid through withholding a percentage of the collections of the seller's receivables processed by the Company or a specified monthly amount. The Company generally facilitates loans to its sellers through a pre-qualification process that includes an analysis of the aggregated data of the seller’s business which includes, but is not limited to, the seller’s historical processing volumes, transaction count, chargebacks, growth, and length of time as a Square customer. The Company also facilitates loans to the customers of certain sellers as well as to the sellers of its partners who do not process payments through the Company. The loans are generally originated by a bank partner, from whom the Company purchases the loans obtaining all rights, title, and interest. The loans have no stated coupon rate but the seller is charged a one-time origination fee by the bank partner based upon their risk rating, which is derived primarily from processing activity. It is the Company’s intent to sell all of its rights, title, and interest of these loans to third-party investors for an upfront fee when the loans are sold. The Company records the net amounts paid to the bank as the cost of the loans purchased and subsequently records a gain on sale of the loans to the third-party investors as revenue upon transfer of title. The Company is retained by the third-party investors to service the loans and earns a servicing fee for facilitating the repayment of these receivables through its managed payments solutions. The Company records servicing revenue as servicing is delivered. For the loans which are not immediately sold to third-party investors, the Company recognizes a portion of the expected seller repayments over the cost of the loans as revenue in proportion to the loan principal reduction. The Company offers customers website hosting services for a fee that is generally billed at inception. The Company also acts as a reseller of domain names registration services for a registrar for a fee, which is also generally billed at inception. The Company considers that it satisfies its performance obligations over time and as such recognizes revenue ratably over the term of the relevant arrangements, which vary from one month to twenty four months for website hosting, and one year to ten years for domain name registration. SaaS represents software products and solutions that provide customers with access to various technologies for a fee which is recognized as revenue ratably as the service is provided. The Company's contracts with customers are generally for a term of one month and renew automatically each month. The Company invoices its customers monthly. The Company considers that it satisfies its performance obligations over time each month as it provides the SaaS services to customers and hence recognizes revenue ratably over the month. Subscription and services revenue also included revenue generated from Caviar, a food ordering platform that facilitated food delivery services that was sold by the Company on October 31, 2019. The performance obligations were the delivery of food orders from restaurants to customers and the provision of catered meals to corporate customers. For delivery of food orders, the Company charged fees to restaurants, as sellers, and also charged delivery and service fees to individuals. For provision of catered meals the Company charged corporate customers a fee. All fees were billed upon delivery of food orders or catered meals, when the Company considers that it has satisfied its performance obligations. Revenue was recognized upon delivery of the food orders or catered meals, net of refunds. Refunds were estimated based on historical experience. Hardware revenue The Company generates revenue through the sale of hardware through e-commerce and through its retail distribution channels. The Company satisfies its performance obligation upon delivery of hardware to its customers who include end user customers, distributors, and retailers. The Company allows for customer returns which are accounted for as variable consideration. The Company estimates these amounts based on historical experience and reduces revenue recognized. The Company invoices end user customers upon delivery of the products to customers, and payments from such customers are due upon invoicing. Distributors and retailers have payment terms that range from 30 to 90 days after delivery. The Company offers hardware installment sales to customers with terms ranging from three to twenty four months. The Company allocates a portion of the consideration received from these arrangements to a financing component when it determines that a significant financing component exists. The financing component is subsequently recognized as financing revenue separate from hardware revenue, within subscription and services-based revenue, over the terms of the arrangement with the customer. Pursuant to practical expedients afforded under ASC 606, the Company does not recognize a financing component for hardware installment sales that have a term of one year or less. Bitcoin revenue The Company offers its Cash App customers the ability to purchase bitcoin, a cryptocurrency denominated asset, from the Company. The Company satisfies its performance obligation and records revenue when bitcoin is transferred to the customer's account. The Company purchases bitcoin from private broker dealers or from Cash App customers and applies a small margin before selling it to its customers. The sale amounts received from customers are recorded as revenue on a gross basis and the associated bitcoin cost as cost of revenues, as the Company is the principal in the bitcoin sale transaction. The Company has concluded it is the principal because it controls the bitcoin before delivery to the customers, it is primarily responsible for the delivery of the bitcoin to the customers, it is exposed to risks arising from fluctuations of the market price of bitcoin before delivery to customers, and has discretion in setting prices charged to customers. Arrangements with Multiple Performance Obligations The Company's contracts with customers generally do not include multiple performance obligations with differing patterns of revenue recognition, except for domain name registration offered with website hosting services. The Company offers its customers the option to buy website hosting bundled with domain name registration, and infrequently the Company has offered its hardware customers free managed payments solutions with the purchase of its hardware as part of a marketing promotion. For such arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company determines standalone selling prices based on the prices charged to customers since the Company's products and services are normally sold on a stand alone basis. Cost of Revenue Transaction-based costs Transaction-based costs consist primarily of interchange and assessment fees, processing fees and bank settlement fees paid to third-party payment processors and financial institutions. Subscription and services-based costs Subscription and services-based costs consist primarily of Caviar-related costs, which included processing fees, payments to third-party couriers for deliveries and the cost of equipment provided to sellers. Caviar-related costs for catered meals also included food costs and personnel costs. Subscriptions and services-based costs also include costs associated with Cash Card and Instant Deposit. The Caviar business was sold in the fourth quarter of 2019. Hardware costs Hardware costs consist of all product costs associated with contactless and chip readers, chip card readers, Square Stand, Square Register, Square Terminal and third-party peripherals. Product costs consist of third-party manufacturing costs. Bitcoin costs Bitcoin cost of revenue comprises of the amounts the Company pays to purchase bitcoin, which will fluctuate in line with the price of bitcoin in the market. Other Costs Other costs such as employee costs, rent, and occupancy charges are generally not allocated to cost of revenues and are reflected in operating expenses.
Sales and Marketing Expenses	Sales and Marketing Expenses Advertising costs are expensed as incurred and included in sales and marketing expense in the consolidated statements of operations. Total advertising costs for the years ended December 31, 2020, 2019, and 2018 were $224.7 million, $142.7 million, and $101.9 million, respectively. In addition, services, incentives, and other costs to customers that are not directly related to a revenue generating transaction are recorded as sales and marketing expenses, as the Company considers these to be marketing costs to encourage the usage of Cash App. These expenses include, but are not limited to, Cash App peer-to-peer processing costs and related transaction losses, card issuance costs, customer referral bonuses, and promotional giveaways
Share-based Compensation	Share-based Compensation Share-based compensation expense relates to stock options, restricted stock awards (RSAs), restricted stock units (RSUs), and purchases under the Company’s 2015 Employee Stock Purchase Plan (ESPP) which is measured based on the grant-date fair value. The fair value of RSAs and RSUs is determined by the closing price of the Company’s common stock on each grant date. The fair value of stock options and ESPP shares granted to employees is estimated on the date of grant
Interest Income and Interest Expense, net	Interest Income and Expense, netInterest income consists interest income from the Company's investment in marketable debt securities and interest expense relates to the Company's long-term debt.
Income and Other Taxes	Income and Other Taxes The Company reports income taxes under the asset and liability approach. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss and tax credit carryforwards. Deferred tax amounts are determined by using the enacted tax rates expected to be in effect when the temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance reduces the deferred tax assets to the amount that is more likely than not to be realized. The Company considers historical information, tax planning strategies, the expected timing of the reversal of existing temporary differences, and may rely on financial projections to support its position on the recoverability of deferred tax assets. The Company’s judgment regarding future profitability contains significant assumptions and estimates of future operations. If such assumptions were to differ significantly from actual future results of operations, it may have a material impact on the Company’s ability to realize its deferred tax assets. At the end of each period, the Company assesses the ability to realize the deferred tax assets. If it is more likely than not that the Company would not realize the deferred tax assets, then the Company would establish a valuation allowance for all or a portion of the deferred tax assets. The Company recognizes the effect of uncertain income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that has a greater than 50% likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to uncertain tax positions in the provision for income tax expense on the consolidated statements of operations.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash The Company considers all highly liquid investments, including money market funds, with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2020 and 2019, restricted cash of $30.3 million and $38.9 million, respectively, is related to pledged cash deposited into savings accounts at the financial institutions that process the Company's sellers' payment transactions and as collateral pursuant to an agreement with the originating bank for the Company's loan product. The Company uses the restricted cash to secure letters of credit with the financial institution to provide collateral for cash flow timing differences in the processing of these payments. The Company has recorded this amount as a current asset on the consolidated balance sheets due to the short-term nature of these cash flow timing differences and that there is no minimum time frame during which the cash must remain restricted. Additionally, this balance includes certain amounts held as
Concentration of Credit Risk	Concentration of Credit Risk For the years ended December 31, 2020, 2019 and 2018, the Company had no customer that accounted for greater than 10% of total net revenue. The Company had two third-party payment processors that represented approximately 59% and 27% of settlements receivable as of December 31, 2020. As of December 31, 2019, there were three parties that represented approximately 48%, 29%, and 9% of settlements receivable. All other third-party processors were insignificant. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, marketable debt securities, settlements receivable, customer funds, and loans held for sale. The associated risk of concentration for cash and cash equivalents and restricted cash is mitigated by banking with creditworthy institutions. At certain times, amounts on deposit exceed federal deposit insurance limits. The associated risk of concentration for marketable debt securities is mitigated by holding a diversified portfolio of highly rated investments. Settlements receivable are amounts due from well-established payment processing companies and normally take one two
Investments in marketable debt securities and Investments in equity securities	Investments in marketable debt securities The Company's short-term and long-term investments include marketable debt securities such as government and agency securities, corporate bonds, commercial paper and municipal securities. The Company determines the appropriate classification of its investments in marketable debt securities at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its marketable debt securities as available-for-sale and carries these investments at fair value, reporting the unrealized gains and losses, net of taxes, as a component of stockholders’ equity. The U.S. government and U.S. agency securities are either explicitly or implicitly guaranteed by the U.S. government and are highly rated by major rating agencies. The corporate bonds are issued by highly rated entities. The foreign government securities are issued by highly rated international entities. The Company has the ability and intent to hold these investments with unrealized losses for a reasonable period of time sufficient for the recovery of their amortized cost bases, which may be at maturity. The Company determines any realized gains or losses on the sale of marketable debt securities on a specific identification method, and records such gains and losses as a component of other expense (income), net. Investments in equity securities The Company holds marketable and non-marketable equity investments, over which the Company does not have a controlling interest or significant influence. Marketable equity investments are measured using quoted prices in active markets with changes recorded in other expense (income), net on the consolidated statements of operations. Non-marketable equity investments have no readily determinable fair values and are measured using the measurement alternative, which is defined as cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments are recorded in other expense (income), net on the consolidated statements of operations. Non-marketable equity investments are valued using significant unobservable inputs or data in an inactive market and the valuation requires our judgment due to the absence of market prices and inherent lack of liquidity. The carrying value for these investments is not adjusted if there are no observable transactions for identical or similar investments of the same issuer or if there are no identified events or changes in circumstances that may indicate impairment. Valuations of non-marketable equity investments are inherently complex due to the lack of readily available market data. In addition, the determination of whether an orderly transaction is for an identical or similar investment requires significant management judgment, including understanding the differences in the rights and obligations of the investments and the extent to which those differences would affect the fair values of those investments. The Company assesses the impairment of its non-marketable equity investments on a quarterly basis. The impairment analysis encompasses an assessment of the severity and duration of the impairment and a qualitative and quantitative analysis of other key factors including the investee’s financial metrics, market acceptance of the investee’s product or technology, other competitive products or technology in the market, general market conditions, and the rate at which the investee is using its cash. If the investment is considered to be impaired, the Company will record an impairment in other income (expense), net on the consolidated statements of operations and establish a new carrying value for the investment.
Customer funds	Customer funds Customer funds held in deposit represent customers' stored balances that customers would later use to send money or make payments, or customers cash in transit. The Company invests a portion of these stored balances in short-term marketable debt securities (Note 4). The Company determines the appropriate classification of the investments in marketable debt securities within customer funds at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its marketable debt securities within customer funds as available-for-sale.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company applies fair value accounting for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. Fair value accounting establishes a three-level hierarchy priority for disclosure of assets and liabilities recorded at fair value. The ordering of priority reflects the degree to which objective prices in external active markets are available to measure fair value. The classification of assets and liabilities within the hierarchy is based on whether the inputs to the valuation methodology used for measurement are observable or unobservable. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: • Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. • Level 2 Inputs: Other than quoted prices included in Level 1 Inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. • Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.
Loans Held for Sale	Loans Held for Sale The Company classifies customer loans as held for sale upon purchase from an industrial bank partner, as there is an available market for such loans and it is the Company’s intent to sell all of its rights, title, and interest in these loans to third-party investors. Loans held for sale are recorded at the lower of amortized cost or fair value determined on an individual loan basis. To determine the fair value the Company utilizes industry-standard valuation modeling, such as discounted cash flow models, taking into account the estimated timing and amounts of periodic repayments. In estimating the expected timing and amounts of the future periodic repayments for the loans outstanding as of December 31, 2020, the Company considered other relevant market data, including the impact of the COVID-19 pandemic, as well as the conditions and uncertainty experienced during similar historical periods of recessionary economic conditions. With respect to PPP loans, the Company also considers the impact of government guarantees and loan forgiveness on the timing and amounts of future cash flows. The Company recognizes a charge within transaction and loan losses in the consolidated statement of operations whenever the amortized cost of a loan exceeds its fair value, with such charges being reversed for subsequent increases in fair value, but only to the extent that such reversals do not result in the amortized cost of a loan exceeding its fair value. A loan that is initially
Settlements Receivable	Settlements Receivable Settlements receivable represents amounts due from third-party payment processors for customer transactions. Settlements receivable are typically received within one two
Inventory	InventoryInventory is comprised of contactless and chip readers, chip card readers, Square Stand, Square Register, Square Terminal and third-party peripherals, as well as component parts that are used to manufacture these products. Inventory is stated at the lower of cost (generally on a first-in, first-out basis) or net realizable value. Inventory that is obsolete or in excess of forecasted usage is written down to its net realizable value based on the estimated selling prices in the ordinary course of business. The Company's inventory is held at third party warehouses and contract manufacturer premises.
Deferred Revenue	Deferred Revenue Deferred revenue is primarily comprised of payments for website hosting and domain name registration received from customers at inception of the arrangements prior to the services being rendered. Deferred revenue also includes unearned revenue related to managed payments services offered in conjunction with hardware sales for which the cash payments from customers are received and due upon the sale of the hardware.
Investments in bitcoin	Investments in bitcoinBitcoin is a cryptocurrency that is considered to be an indefinite lived intangible asset because bitcoin lacks physical form and there is no limit to its useful life. Accordingly, bitcoin is not subject to amortization but is tested for impairment continuously to assess if it is more likely than not that it is impaired. The Company has concluded bitcoin is traded in an active market where there are observable prices, a decline in the quoted price below cost is generally viewed as an impairment indicator, in which case the fair value is determined to assess whether an impairment loss should be recorded. If the fair value of bitcoin decreases below the carrying value during the assessed period an impairment charge is recognized at that time. After an impairment loss is recognized, the adjusted carrying amount of bitcoin becomes its new accounting basis. A subsequent reversal of a previously recognized impairment loss is prohibited until the sale of the asset.
Property and Equipment	Property and Equipment Property and equipment are recorded at historical cost less accumulated depreciation, which is computed on a straight-line basis over the asset’s estimated useful life. The estimated useful lives of property and equipment are described below: Property and Equipment Useful Life Capitalized software 18 months Computer and data center equipment Two Furniture and fixtures Seven years Leasehold improvements Lesser of ten years or remaining lease term When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from their respective accounts, and any gain or loss on such sale or disposal is reflected in operating expenses.
Capitalized Software	Capitalized Software The Company capitalizes certain costs incurred in developing internal-use software when capitalization
Leases	Leases The Company leases office space and equipment under non-cancellable finance and operating leases with various expiration dates. The Company adopted Accounting Standards Codification (ASC) 842, Leases (ASC 842) on January 1, 2019, and elected the optional transition method to apply the transition provisions from the effective date of adoption, which requires the Company to report the cumulative effect of the adoption of the standard on the date of adoption with no changes to the prior period balances. Pursuant to the practical expedients, the Company elected not to reassess: (i) whether expired or existing contracts are or contain leases, (ii) the lease classification for any expired or existing leases, or, (iii) initial direct costs for any existing leases. The Company elected to apply the short-term lease measurement and recognition exemption to its leases where applicable. Operating lease right-of-use assets and operating lease liabilities are recognized at the present value of the future lease payments, generally for the base noncancellable lease term, at the lease commencement date for each lease. The interest rate used to determine the present value of the future lease payments is the Company's incremental borrowing rate because the interest rate implicit in most of the Company's leases is not readily determinable. The Company's incremental borrowing rate is estimated to approximate the interest rate that the Company would pay to borrow on a collateralized basis with similar terms and payments as the lease, and in economic environments where the leased asset is located. Operating lease right-of-use assets also include any prepaid lease payments and lease incentives. The Company's lease agreements generally contain lease and non-lease components. Non-lease components, which primarily include payments for maintenance and utilities, are combined with lease payments and accounted for as a single lease component. The Company includes the fixed non-lease components in the determination of the right-of-use assets and operating lease liabilities. The Company records the amortization of the right of use asset and the accretion of lease liability as a component of rent expense in the consolidated statement of operations. The accounting for finance leases remained substantially unchanged. Upon adoption of ASC 842, the Company recognized $112.0 million of operating right-of-use lease assets and $135.6 million of operating lease liabilities on its consolidated balance sheet. Additionally, the Company derecognized $149.0 million related to the build-to-suit asset and liability upon adoption of this standard because the Company was no longer deemed to be the owner of the related asset under construction under the new standard. When lease agreements provide allowances for leasehold improvements, the Company assesses whether it is the owner of the leasehold improvements for accounting purposes. When the Company concludes that it is the owner, it capitalizes the leasehold improvement assets and recognizes the related depreciation expense on a straight-line basis over the lesser of the lease term or the estimated useful life of the asset. Additionally, the Company recognizes the amounts of allowances to be received from the lessor as a reduction of the lease liability and the associated right of use asset. When the Company concludes that it is not the owner, the payments that the Company makes towards the leasehold improvements are accounted as a component of the lease payments.
Asset Retirement Obligations	The Company records a liability for the estimated fair value for any asset retirement obligation (ARO) associated with its leases, with an offsetting asset. In the determination of the fair value of AROs, the Company uses various assumptions and judgments, including such factors as the existence of a legal obligation, estimated amounts and timing of settlements, and discount and inflation rates. The liability is subsequently accreted while the asset is depreciated.
Business Combinations	Business Combinations The purchase price of an acquisition is allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values at the acquisition dates. The excess of total consideration over the fair values of the assets acquired and the liabilities assumed is recorded as goodwill. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments would be recorded on the consolidated statements of operations.
Long-lived Assets, including Goodwill and Acquired Intangibles	Long-Lived Assets, including Goodwill and Acquired Intangibles The Company evaluates the recoverability of property and equipment and finite lived intangible assets for impairment whenever events or circumstances indicate that the carrying amounts of such assets may not be recoverable. Recoverability is measured by comparing the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated. If the carrying amount of the long–lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values, and third–party independent appraisals, as considered necessary. For the periods presented, the Company had recorded no impairment charges. The Company performs a goodwill impairment test annually on December 31 and more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the reporting unit’s fair value. Effective June 30, 2020, the Company changed its operating and reporting segments to reflect the manner in which the Chief Operating Decision Maker (CODM) reviews and assesses performance. Accordingly, the Company has two operating and reportable segments, which are Seller and Cash App. The Company has the option to first assess qualitative factors to determine whether events or circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount and determine whether further action is needed. If, after assessing the totality of events or circumstances, the Company determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step impairment test is unnecessary. For the periods presented, the Company had recorded no impairment charges. Acquired intangibles consist of acquired technology and customer relationships associated with various acquisitions. Acquired technology is amortized over its estimated useful life on a straight-line basis within cost of revenue. Customer relationships acquired are amortized on a straight-line basis over their estimated useful lives within operating expenses. The Company evaluates the remaining estimated useful life of its intangible assets being amortized on an ongoing basis to determine whether events and circumstances warrant a revision to the remaining period of amortization.
Customers Payable	Customers PayableCustomers payable represents the transaction amounts, less revenue earned by the Company, owed to sellers or Cash App customers. The payable amount comprises amounts owed to customers due to timing differences as the Company typically settles within one
Accrued Transaction Losses	Accrued Transaction Losses 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, disputes between a seller and their customer, or due to fraudulent transactions. Accrued transaction losses also include estimated losses on Cash App activity related to peer-to-peer payments sent from a credit card, Cash for Business, and Cash Card. 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 Company also considers other relevant market data in developing such estimates and assumptions, including the impact of the COVID-19 pandemic, as well as the conditions and uncertainty experienced during similar historical periods of recessionary economic conditions. Additions to the reserve are reflected in current operating results, while realized losses are offset against the
Segments	Segments Effective on June 30, 2020, the Company changed its operating segments to reflect the manner in which the Company's CODM reviews and assesses performance. The Company has two reportable segments, which are Seller and Cash App. Seller includes managed payment services, software solutions, hardware and financial services products offered to sellers, while Cash App includes financial tools available to individuals such as P2P (peer-to-peer) payments, Cash Card transactions, bitcoin and stock investing that enable customers to easily send, spend, and store money.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently adopted accounting pronouncements In August 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. Among other changes, the new guidance removes from GAAP separation models for convertible debt that require the convertible debt to be separated into a debt and equity component, unless the conversion feature is required to be bifurcated and accounted for as a derivative or the debt is issued at a substantial premium. As a result, after adopting the guidance, entities will no longer separately present such embedded conversion features in equity, and will instead account for the convertible debt wholly as debt. The new guidance also requires use of the "if-converted" method when calculating the dilutive impact of convertible debt on earnings per share, which is consistent with the Company’s current accounting treatment under the current guidance. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, but only at the beginning of the fiscal year. The Company plans to early adopt the new guidance on January 1, 2021 using the modified retrospective approach and expects to record a cumulative effect of adoption of $103.5 million reduction to retained earnings. The Company expects the impact of adoption to result in a reduction to other paid in capital of $502.7 million related to amounts attributable to conversion options that had previously been recorded in equity. Additionally, the Company also expects to record an increase to its convertible notes balance by an aggregate amount of $399.2 million as a result of reversal of the separation of the convertible debt between debt and equity. There is no expected impact to the Company’s statements of operations or cash flows as the result of the adoption of this ASU. Recently issued accounting pronouncements not yet adopted In October 2020, the FASB issued ASU 2020-10, Codification Improvements

DESCRIPTION OF BUSINESS AND S_3

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Estimated Useful Lives of Property and Equipment	The estimated useful lives of property and equipment are described below: Property and Equipment Useful Life Capitalized software 18 months Computer and data center equipment Two Furniture and fixtures Seven years Leasehold improvements Lesser of ten years or remaining lease term The following is a summary of property and equipment, less accumulated depreciation and amortization (in thousands): December 31, December 31, Leasehold improvements $ 168,125 $ 111,942 Computer equipment 139,174 106,469 Capitalized software 119,452 81,984 Office furniture and equipment 34,890 27,328 Total 461,641 327,723 Less: Accumulated depreciation and amortization (228,121) (178,529) Property and equipment, net $ 233,520 $ 149,194

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Revenue Source	The following table presents the Company's revenue disaggregated by revenue source (in thousands): Year Ended December 31, 2020 2019 2018 Revenue from Contracts with Customers: Transaction-based revenue $ 3,294,978 $ 3,081,074 $ 2,471,451 Subscription and services-based revenue 1,447,188 883,922 499,010 Hardware revenue 91,654 84,505 68,503 Bitcoin revenue 4,571,543 516,465 166,517 Revenue from other sources: Subscription and services-based revenue $ 92,215 $ 147,534 $ 92,696
Schedule of Deferred Revenue	The deferred revenue balances were as follows (in thousands): Year Ended December 31, 2020 2019 Deferred revenue, beginning of the period $ 44,331 $ 36,451 Deferred revenue, end of the period 51,804 44,331 Deferred revenue arising from business combination 800 — Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period $ 38,190 $ 31,510

INVESTMENTS IN DEBT SECURITIES

INVESTMENTS IN DEBT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Short-term and Long-term Investments	The Company's short-term and long-term investments as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 153,386 $ 782 $ (164) $ 154,004 Corporate bonds 76,957 256 (14) 77,199 Commercial paper 4,999 — — 4,999 Municipal securities 10,377 57 (3) 10,431 U.S. government securities 404,194 1,244 (4) 405,434 Foreign government securities 42,988 139 (82) 43,045 Total $ 692,901 $ 2,478 $ (267) $ 695,112 Long-term debt securities: U.S. agency securities $ 168,762 $ 519 $ (3) $ 169,278 Corporate bonds 174,655 1,401 (42) 176,014 Municipal securities 1,045 15 — 1,060 U.S. government securities 91,642 433 (2) 92,073 Foreign government securities 25,351 184 (10) 25,525 Total $ 461,455 $ 2,552 $ (57) $ 463,950 The Company's short-term and long-term investments as of December 31, 2019 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 131,124 $ 409 $ (11) $ 131,522 Corporate bonds 67,169 580 (28) 67,721 Municipal securities 6,667 109 — 6,776 U.S. government securities 264,069 1,083 (17) 265,135 Foreign government securities 21,270 48 (16) 21,302 Total $ 490,299 $ 2,229 $ (72) $ 492,456 Long-term debt securities: U.S. agency securities $ 63,645 $ 612 $ (189) $ 64,068 Corporate bonds 141,307 1,832 (61) 143,078 Municipal securities 9,594 151 (39) 9,706 U.S. government securities 294,682 1,287 (190) 295,779 Foreign government securities 24,625 86 (39) 24,672 Total $ 533,853 $ 3,968 $ (518) $ 537,303 The Company's investments within customer funds as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 113,156 $ 22 $ — $ 113,178 U.S. government securities 333,323 28 (5) 333,346 Total $ 446,479 $ 50 $ (5) $ 446,524 The Company's investments within customer funds as of December 31, 2019 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. government securities $ 237,909 $ 144 $ (22) $ 238,031 Total $ 237,909 $ 144 $ (22) $ 238,031
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	The Company's gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2020 and 2019, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 41,711 $ (162) $ 2,505 $ (2) $ 44,216 $ (164) Corporate bonds 15,255 (14) — — 15,255 (14) Municipal securities 2,566 (3) — — 2,566 (3) U.S. government securities 45,970 (4) — — 45,970 (4) Foreign government securities 21,341 (82) — — 21,341 (82) Total $ 126,843 $ (265) $ 2,505 $ (2) $ 129,348 $ (267) Long-term debt securities: U.S. agency securities $ 1,406 $ (3) $ — $ — $ 1,406 $ (3) Corporate bonds 28,189 (42) — — 28,189 (42) U.S. government securities 8,658 (2) — — 8,658 (2) Foreign government securities 10,929 (10) — — 10,929 (10) Total $ 49,182 $ (57) $ — $ 49,182 $ (57) December 31, 2019 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 23,896 $ (9) $ 4,996 $ (2) $ 28,892 $ (11) Corporate bonds 5,507 (27) 2,502 (1) 8,009 (28) U.S. government securities 21,481 (8) 14,984 (9) 36,465 (17) Foreign government securities 13,499 (16) — — 13,499 (16) Total $ 64,383 $ (60) $ 22,482 $ (12) $ 86,865 $ (72) Long-term debt securities: U.S. agency securities $ 16,740 $ (189) $ — $ — $ 16,740 $ (189) Corporate bonds 16,708 (61) — — 16,708 (61) Municipal securities 1,005 (39) — — 1,005 (39) U.S. government securities 42,210 (162) — (28) 42,210 (190) Foreign government securities 16,383 (39) — — 16,383 (39) Total $ 93,046 $ (490) $ — $ (28) $ 93,046 $ (518) The gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2020 and 2019, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. government securities $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) Total $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) December 31, 2019 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. government securities $ 56,984 $ (22) $ — $ — $ 56,984 $ (22) Total $ 56,984 $ (22) $ — $ — $ 56,984 $ (22)
Contractual Maturities of Short-Term and Long-Term Investments	The contractual maturities of the Company's short-term and long-term investments as of December 31, 2020 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 692,901 $ 695,112 Due in one to five years 461,455 463,950 Total $ 1,154,356 $ 1,159,062 The contractual maturities of the Company's investments within customer funds as of December 31, 2020 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 446,479 $ 446,524 Due in one to five years — — Total $ 446,479 $ 446,524

CUSTOMER FUNDS (Tables)

CUSTOMER FUNDS (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Assets Underlying Customer Funds	The following table presents the assets underlying customer funds (in thousands): December 31, December 31, Cash $ 145,577 $ 422,459 Customer funds in transit (ii) 262,562 — Cash Equivalents: Money market funds 777,193 233 Reverse repurchase agreement (i) 246,880 — U.S. agency securities 47,300 8,585 U.S. government securities 111,796 6,984 Short-term debt securities: U.S. agency securities 113,178 — U.S. government securities 333,346 238,031 Total $ 2,037,832 $ 676,292 (i) The Company has accounted for the reverse repurchase agreement with a third party as an overnight lending arrangement, collateralized by the securities subject to the repurchase agreement. The Company classifies the amounts due from the counterparty as cash equivalents due to the short term nature. (ii) The customer funds in transit were received subsequent to December 31, 2020.
Investments within Customer Funds	The Company's short-term and long-term investments as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 153,386 $ 782 $ (164) $ 154,004 Corporate bonds 76,957 256 (14) 77,199 Commercial paper 4,999 — — 4,999 Municipal securities 10,377 57 (3) 10,431 U.S. government securities 404,194 1,244 (4) 405,434 Foreign government securities 42,988 139 (82) 43,045 Total $ 692,901 $ 2,478 $ (267) $ 695,112 Long-term debt securities: U.S. agency securities $ 168,762 $ 519 $ (3) $ 169,278 Corporate bonds 174,655 1,401 (42) 176,014 Municipal securities 1,045 15 — 1,060 U.S. government securities 91,642 433 (2) 92,073 Foreign government securities 25,351 184 (10) 25,525 Total $ 461,455 $ 2,552 $ (57) $ 463,950 The Company's short-term and long-term investments as of December 31, 2019 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 131,124 $ 409 $ (11) $ 131,522 Corporate bonds 67,169 580 (28) 67,721 Municipal securities 6,667 109 — 6,776 U.S. government securities 264,069 1,083 (17) 265,135 Foreign government securities 21,270 48 (16) 21,302 Total $ 490,299 $ 2,229 $ (72) $ 492,456 Long-term debt securities: U.S. agency securities $ 63,645 $ 612 $ (189) $ 64,068 Corporate bonds 141,307 1,832 (61) 143,078 Municipal securities 9,594 151 (39) 9,706 U.S. government securities 294,682 1,287 (190) 295,779 Foreign government securities 24,625 86 (39) 24,672 Total $ 533,853 $ 3,968 $ (518) $ 537,303 The Company's investments within customer funds as of December 31, 2020 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. agency securities $ 113,156 $ 22 $ — $ 113,178 U.S. government securities 333,323 28 (5) 333,346 Total $ 446,479 $ 50 $ (5) $ 446,524 The Company's investments within customer funds as of December 31, 2019 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term debt securities: U.S. government securities $ 237,909 $ 144 $ (22) $ 238,031 Total $ 237,909 $ 144 $ (22) $ 238,031
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	The Company's gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2020 and 2019, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 41,711 $ (162) $ 2,505 $ (2) $ 44,216 $ (164) Corporate bonds 15,255 (14) — — 15,255 (14) Municipal securities 2,566 (3) — — 2,566 (3) U.S. government securities 45,970 (4) — — 45,970 (4) Foreign government securities 21,341 (82) — — 21,341 (82) Total $ 126,843 $ (265) $ 2,505 $ (2) $ 129,348 $ (267) Long-term debt securities: U.S. agency securities $ 1,406 $ (3) $ — $ — $ 1,406 $ (3) Corporate bonds 28,189 (42) — — 28,189 (42) U.S. government securities 8,658 (2) — — 8,658 (2) Foreign government securities 10,929 (10) — — 10,929 (10) Total $ 49,182 $ (57) $ — $ 49,182 $ (57) December 31, 2019 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. agency securities $ 23,896 $ (9) $ 4,996 $ (2) $ 28,892 $ (11) Corporate bonds 5,507 (27) 2,502 (1) 8,009 (28) U.S. government securities 21,481 (8) 14,984 (9) 36,465 (17) Foreign government securities 13,499 (16) — — 13,499 (16) Total $ 64,383 $ (60) $ 22,482 $ (12) $ 86,865 $ (72) Long-term debt securities: U.S. agency securities $ 16,740 $ (189) $ — $ — $ 16,740 $ (189) Corporate bonds 16,708 (61) — — 16,708 (61) Municipal securities 1,005 (39) — — 1,005 (39) U.S. government securities 42,210 (162) — (28) 42,210 (190) Foreign government securities 16,383 (39) — — 16,383 (39) Total $ 93,046 $ (490) $ — $ (28) $ 93,046 $ (518) The gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2020 and 2019, aggregated by investment category and the length of time that individual securities have been in a continuous loss position are as follows (in thousands): December 31, 2020 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. government securities $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) Total $ 73,609 $ (5) $ — $ — $ 73,609 $ (5) December 31, 2019 Less than 12 months Greater than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Short-term debt securities: U.S. government securities $ 56,984 $ (22) $ — $ — $ 56,984 $ (22) Total $ 56,984 $ (22) $ — $ — $ 56,984 $ (22)
Contractual Maturities of Short-Term and Long-Term Investments	The contractual maturities of the Company's short-term and long-term investments as of December 31, 2020 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 692,901 $ 695,112 Due in one to five years 461,455 463,950 Total $ 1,154,356 $ 1,159,062 The contractual maturities of the Company's investments within customer funds as of December 31, 2020 are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 446,479 $ 446,524 Due in one to five years — — Total $ 446,479 $ 446,524

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The Company’s financial assets and liabilities that are measured at fair value on a recurring basis are classified as follows (in thousands): December 31, 2020 December 31, 2019 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Cash Equivalents: Money market funds $ 1,694,736 $ — $ — $ 213,576 $ — $ — U.S. agency securities — 41,186 — — 19,976 — Commercial paper — — — — — — U.S. government securities 15,000 — — 46,914 — — Foreign government securities — — — — — — Customer funds: Money market funds 777,193 — — 233 — — Reverse repurchase agreement 246,880 — — — — — U.S. agency securities — 160,478 — — 8,585 — U.S. government securities 445,142 — — 245,015 — — Short-term debt securities: U.S. agency securities — 154,004 — — 131,522 — Corporate bonds — 77,199 — — 67,721 — Commercial paper — 4,999 — — — — Municipal securities — 10,431 — — 6,776 — U.S. government securities 405,434 — — 265,135 — — Foreign government securities — 43,045 — — 21,302 — Long-term debt securities: U.S. agency securities — 169,278 — — 64,068 — Corporate bonds — 176,014 — — 143,078 — Municipal securities — 1,060 — — 9,706 — U.S. government securities 92,073 — — 295,779 — — Foreign government securities — 25,525 — — 24,672 — Other: Investment in marketable equity security 376,258 — — — — — Total $ 4,052,716 $ 863,219 $ — $ 1,066,652 $ 497,406 $ — December 31, 2020 December 31, 2019 Carrying Value Fair Value (Level 2) Carrying Value Fair Value (Level 2) 2027 Notes $ 458,496 $ 644,000 $ — $ — 2026 Notes 482,204 638,250 — — 2025 Notes 858,332 1,912,440 — — 2023 Notes 780,046 2,417,820 748,564 962,516 2022 Notes 7,846 80,731 190,268 578,817 Total $ 2,586,924 $ 5,693,241 $ 938,832 $ 1,541,333 The estimated fair value and carrying value of loans held for sale is as follows (in thousands): December 31, 2020 December 31, 2019 Carrying Value Fair Value (Level 3) Carrying Value Fair Value (Level 3) Loans held for sale $ 462,665 $ 467,805 $ 164,834 $ 173,360 Total $ 462,665 $ 467,805 $ 164,834 $ 173,360

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	The estimated useful lives of property and equipment are described below: Property and Equipment Useful Life Capitalized software 18 months Computer and data center equipment Two Furniture and fixtures Seven years Leasehold improvements Lesser of ten years or remaining lease term The following is a summary of property and equipment, less accumulated depreciation and amortization (in thousands): December 31, December 31, Leasehold improvements $ 168,125 $ 111,942 Computer equipment 139,174 106,469 Capitalized software 119,452 81,984 Office furniture and equipment 34,890 27,328 Total 461,641 327,723 Less: Accumulated depreciation and amortization (228,121) (178,529) Property and equipment, net $ 233,520 $ 149,194

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Schedule of Business Acquisitions	The table below summarizes the consideration paid for Weebly and the fair value of the assets acquired and liabilities assumed at the closing date (in thousands, except share data). Consideration: Cash $ 132,432 Stock (2,418,271 shares of Class A common stock) 140,107 $ 272,539 Recognized amounts of identifiable assets acquired and liabilities assumed: Current assets (inclusive of cash acquired of $25,758) $ 46,978 Intangible customer assets 42,700 Intangible technology assets 14,900 Intangible trade name 11,300 Intangible other assets 961 Total liabilities assumed (including deferred revenue of $22,800) (37,509) Total identifiable net assets acquired 79,330 Goodwill 193,209 Total $ 272,539

SALE OF ASSET GROUP (Tables)

SALE OF ASSET GROUP (Tables)	12 Months Ended
	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Summary of Calculation of Gain on Sale	The following table summarizes the calculation of the gain on the sale of Caviar business (in thousands): Consideration received: Cash $ 310,000 Preferred Stock 100,000 $ 410,000 Net assets sold: Intangible and other assets, net $ 8,659 Goodwill 4,221 Disposal costs and other adjustments 23,675 $ 36,555 Gain on sale of asset group $ 373,445

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Change in Carrying Value of Goodwill	The change in carrying value of goodwill in the period was as follows (in thousands): Balance at December 31, 2018 $ 261,705 Acquisitions completed during the year ended December 31, 2019 10,832 Sale of asset group (Note 8) (4,221) Other adjustments (1,971) Balance at December 31, 2019 266,345 Acquisitions completed during the year ended December 31, 2020 49,571 Other adjustments 785 Balance at December 31, 2020 $ 316,701 The change in carrying value of goodwill allocated to the reportable segments in the period was as follows (in thousands): Cash App Seller Total Balance as of June 30, 2020 $ 112,389 $ 183,371 $ 295,760 Acquisitions 15,587 4,492 20,079 Other adjustments 862 — 862 Balance as of December 31, 2020 $ 128,838 $ 187,863 $ 316,701

ACQUIRED INTANGIBLE ASSETS (Tab

ACQUIRED INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite Lived Intangible Assets	The following table presents the detail of acquired intangible assets as of the periods presented (in thousands): Balance at December 31, 2020 Weighted Average Estimated Useful Life Cost Accumulated Amortization Net Technology assets 5 years $ 119,508 $ (43,084) $ 76,424 Customer assets 11 years 58,556 (10,796) 47,760 Trade name 6 years 18,529 (8,031) 10,498 Other 8 years 5,733 (2,803) 2,930 Total $ 202,326 $ (64,714) $ 137,612 Balance at December 31, 2019 Weighted Average Estimated Useful Life Cost Accumulated Amortization Net Technology assets 5 years $ 53,900 $ (31,873) $ 22,027 Customer assets 12 years 44,000 (6,934) 37,066 Trade name 4 years 11,300 (4,473) 6,827 Other 8 years 5,299 (2,140) 3,159 Total $ 114,499 $ (45,420) $ 69,079 The changes to the carrying value of intangible assets were as follows (in thousands): Year Ended December 31, 2020 2019 2018 Acquired intangible assets, net, beginning of the period $ 69,079 $ 77,102 $ 14,334 Acquisitions 85,960 14,559 75,871 Amortization expense (19,239) (15,000) (13,103) Sale of asset group (Note 8) — (7,582) — Other adjustments 1,812 — — Acquired intangible assets, net, end of the period $ 137,612 $ 69,079 $ 77,102
Schedule of Annual Future Amortization Expense of Intangible Assets	The estimated future amortization expense of intangible assets as of December 31, 2020 is as follows (in thousands): 2021 $ 27,679 2022 25,605 2023 24,353 2024 21,376 2025 14,548 Thereafter 24,051 Total $ 137,612

OTHER CONSOLIDATED BALANCE SH_3

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) (Tables)	12 Months Ended
	Dec. 31, 2020
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): December 31, December 31, Inventory, net $ 61,129 $ 47,683 Restricted cash 30,279 38,873 Processing costs receivable 148,606 67,281 Prepaid expenses 34,279 22,758 Accounts receivable, net 41,960 33,863 Other 66,814 39,951 Total $ 383,067 $ 250,409
Schedule of Accrued Expenses and Other Current Liabilities	The following table presents the detail of accrued expenses (in thousands): December 31, December 31, Accrued expenses $ 126,710 $ 128,387 Square Payroll payable (i) 16,990 27,969 Accrued transaction losses (ii) 70,557 34,771 Accounts payable 47,089 42,116 Deferred revenue, current 44,908 38,104 Other 54,596 26,494 Total $ 360,850 $ 297,841 (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 reserves at December 31, 2020 reflect the expected increased chargebacks from non-delivery of goods and services as well as increased failure rates of sellers due to the COVID-19 pandemic. The reconciliation of the beginning and ending accrued transaction losses is as follows: Year Ended December 31, 2020 2019 Accrued transaction losses, beginning of the year $ 34,771 $ 33,682 Provision for transaction losses 109,399 79,414 Charge-offs to accrued transaction losses (73,613) (78,325) Accrued transaction losses, end of the year $ 70,557 $ 34,771
Schedule of Reserve for Transaction Losses	Year Ended December 31, 2020 2019 Accrued transaction losses, beginning of the year $ 34,771 $ 33,682 Provision for transaction losses 109,399 79,414 Charge-offs to accrued transaction losses (73,613) (78,325) Accrued transaction losses, end of the year $ 70,557 $ 34,771

OTHER CONSOLIDATED BALANCE SH_4

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Non-Current Assets	The following table presents the detail of other non-current assets (in thousands): December 31, December 31, Investment in non-marketable equity securities (i) $ 32,510 $ 110,000 Investment in marketable equity security (ii) 376,258 — Investment in bitcoin (iii) 50,000 — Non-current lease prepayments (iv) — 45,738 Restricted cash 13,526 12,715 Other 26,956 27,935 Total $ 499,250 $ 196,388 (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) In December 2020, upon DoorDash's initial public offering, the shares of preferred stock held by the Company converted into Class A common stock of DoorDash. As of December 31, 2020, the Company revalued this investment and will subsequently carry it at fair value, with changes in fair value being recorded within other income or expense on the consolidated statement of operations. During the year ended December 31, 2020, the Company recorded a gain of $276.3 million to other income on the consolidated statements of operations arising from revaluation of this investment. (iii) The Company invested in bitcoin in the fourth quarter of 2020, which is accounted for as an intangible asset. As of December 31, 2020, the fair value of the bitcoin investment was $136.5 million based on the market prices.
Schedule of Other Non-Current Liabilities	The following table presents the detail of other non-current liabilities (in thousands): December 31, December 31, Statutory liabilities (i) $ 75,370 $ 54,762 Deferred revenue, non-current 6,896 6,227 Other 3,025 33,472 Total $ 85,291 $ 94,461 (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.

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Net Carrying Amount of Convertible Notes	The net carrying amount of the Notes were as follows (in thousands): Principal outstanding Unamortized debt discount Unamortized debt issuance costs Net carrying value December 31, 2020 2027 Notes $ 575,000 $ (109,134) $ (7,370) $ 458,496 2026 Notes 575,000 (85,085) (7,711) 482,204 2025 Notes 1,000,000 (130,335) (11,333) 858,332 2023 Notes 862,500 (79,980) (2,474) 780,046 2022 Notes 8,545 (629) (70) 7,846 Total $ 3,021,045 $ (405,163) $ (28,958) $ 2,586,924 December 31, 2019 2023 Notes $ 862,500 $ (110,518) $ (3,418) $ 748,564 2022 Notes 211,726 (19,312) (2,146) 190,268 Total $ 1,074,226 $ (129,830) $ (5,564) $ 938,832 The net carrying amount of the equity component of the Notes were as follows (in thousands): Amount allocated to conversion option Less: allocated issuance costs Equity component, net December 31, 2020 2027 Notes $ 111,000 $ (1,793) $ 109,207 2026 Notes 87,000 (1,405) 85,595 2025 Notes 154,600 (2,342) 152,258 2023 Notes 155,250 (1,231) 154,019 2022 Notes 1,674 (45) 1,629 Total $ 509,524 $ (6,816) $ 502,708 Amount allocated to conversion option Less: allocated issuance costs Equity component, net December 31, 2019 2023 Notes $ 155,250 $ (1,231) $ 154,019 2022 Notes 41,481 (1,108) 40,373 Total $ 196,731 $ (2,339) $ 194,392
Interest Expense on Convertible Notes	The Company recognized interest expense on the Notes as follows (in thousands, except for percentages): Year Ended December 31, 2020 2019 2018 Contractual interest expense $ 6,078 $ 5,108 $ 4,023 Amortization of debt discount and issuance costs 67,979 39,139 32,855 Total $ 74,057 $ 44,247 $ 36,878

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Domestic and Foreign Components of Income (Loss) Before Income Taxes	The domestic and foreign components of income (loss) before income taxes are as follows (in thousands): Year Ended December 31, 2020 2019 2018 Domestic $ 369,016 $ 456,335 $ 44,538 Foreign (153,049) (78,122) (80,665) Income (loss) before income taxes $ 215,967 $ 378,213 $ (36,127)
Components of Provision for Income Taxes	The components of the provision for income taxes are as follows (in thousands): Year Ended December 31, 2020 2019 2018 Current: Federal $ — $ 114 $ (4) State 4,016 930 752 Foreign 6,862 3,099 2,224 Total current provision for income taxes 10,878 4,143 2,972 Deferred: Federal (970) (777) (404) State (231) (399) 35 Foreign (6,815) (200) (277) Total deferred provision for income taxes (8,016) (1,376) (646) Total provision for income taxes $ 2,862 $ 2,767 $ 2,326
Reconciliation of Statutory Federal Income Tax Rate to Company's Effective Tax Rate	The following is a reconciliation of the statutory federal income tax rate to the Company's effective tax rate: Balance at December 31, 2020 2019 2018 Tax at federal statutory rate 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit 0.3 0.1 (1.1) Foreign rate differential 4.0 1.4 (14.7) Non-deductible meals 0.3 0.3 (3.4) Other non-deductible expenses 2.4 0.2 (0.9) Credits (34.6) (13.9) 164.8 Other items 2.2 (0.5) 2.3 Change in valuation allowance 153.9 34.9 (718.5) Share-based compensation (155.4) (45.8) 549.0 Change in uncertain tax positions 2.3 0.5 (4.1) Sale of Caviar business line — 1.2 — Non-deductible executive compensation 3.6 0.6 — Non-deductible acquisition-related costs 1.3 0.7 (0.8) Total 1.3 % 0.7 % (6.4) %
Tax Effects of Temporary Differences and Related Deferred Tax Assets and Liabilities	The tax effects of temporary differences and related deferred tax assets and liabilities are as follows (in thousands): Balance at December 31, 2020 2019 Deferred tax assets: Capitalized costs $ 17,994 $ 23,708 Accrued expenses 47,653 33,044 Net operating loss carryforwards 962,069 575,245 Tax credit carryforwards 254,789 183,977 Share-based compensation 40,784 38,427 Deferred Interest 13,800 4,072 Other — 3,424 Operating Lease, net — 5,761 Total deferred tax assets 1,337,089 867,658 Valuation allowance (1,238,010) (859,564) Total deferred tax assets, net of valuation allowance 99,079 8,094 Deferred tax liabilities: Property, equipment and intangible assets (12,784) (6,862) Indefinite-lived intangibles (352) (253) Other (1,115) — Operating Lease, net (3,625) — Unrealized gain on investments (73,425) — Total deferred tax liabilities (91,301) (7,115) Net deferred tax assets (liabilities) $ 7,778 $ 979
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefit	A reconciliation of the beginning and ending amount of unrecognized tax benefit is presented below (in thousands): Year Ended December 31, 2020 2019 2018 Balance at the beginning of the year $ 217,574 $ 198,540 $ 70,799 Gross increases and decreases related to prior period tax positions (2,615) (11,571) 513 Gross increases and decreases related to current period tax positions 77,235 30,676 119,261 Reductions related to lapse of statute of limitations (49) (149) (142) Gross increases related to acquisitions 3,037 78 8,109 Balance at the end of the year $ 295,182 $ 217,574 $ 198,540

STOCKHOLDER'S EQUITY (Tables)

STOCKHOLDER'S EQUITY (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Summary of Stock Option Activity	A summary of stock option activity for the year ended December 31, 2020 is as follows (in thousands, except share and per share data): Number of Stock Options Outstanding Weighted Weighted Aggregate Balance at December 31, 2019 23,619,804 $ 12.66 4.89 $ 1,191,746 Granted 1,538,109 59.46 Exercised (11,017,713) 10.54 Forfeited (509,318) 60.65 Balance at December 31, 2020 13,630,882 $ 17.84 3.84 $ 2,723,394 Options exercisable as of December 31, 2020 12,034,630 $ 12.11 3.18 $ 2,473,439
Summary of RSU Activity	Activity related to RSAs and RSUs during the year ended December 31, 2020 is set forth below: Number of Weighted Unvested as of December 31, 2019 13,917,461 $ 49.90 Granted 10,727,210 78.29 Vested (7,402,353) 43.31 Forfeited (1,619,673) 58.12 Unvested as of December 31, 2020 15,622,645 $ 71.71
Schedule of Fair Value Assumptions for Options	The fair value of stock options granted was estimated using the following weighted-average assumptions: Year Ended December 31, 2020 2019 2018 Dividend yield — % — % — % Risk-free interest rate 0.41 % 2.37 % 2.92 % Expected volatility 48.29 % 40.48 % 30.87 % Expected term (years) 6.02 6.02 6.19
Summary of the Effect of Share-Based Compensation on the Consolidated Statements of Operations	The following table summarizes the effects of share-based compensation on the Company's consolidated statements of operations (in thousands): Year Ended December 31, 2020 2019 2018 Cost of revenue $ 368 $ 155 $ 97 Product development 289,553 210,840 144,601 Sales and marketing 36,627 26,720 22,797 General and administrative 70,952 60,148 49,386 Total $ 397,500 $ 297,863 $ 216,881

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income (Loss) Per Share	The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data): Year Ended December 31, 2020 2019 2018 Net income (loss) $ 213,105 $ 375,446 $ (38,453) Basic shares: Weighted-average common shares outstanding 443,773 425,728 406,313 Weighted-average unvested shares (647) (729) (582) Weighted-average shares used to compute basic net income (loss) per share 443,126 424,999 405,731 Diluted shares: Stock options and restricted stock units 23,378 30,602 — Common stock warrants 15,413 10,432 — Employee stock purchase plan 250 43 — Weighted-average shares used to compute diluted net income (loss) per share $ 482,167 $ 466,076 $ 405,731 Net income (loss) per share: Basic $ 0.48 $ 0.88 $ (0.09) Diluted $ 0.44 $ 0.81 $ (0.09)
Schedule of Antidilutive Securities Excluded from Calculation of Diluted Net Income (Loss) Per Share	The following potential common shares were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented (in thousands): Year Ended December 31, 2020 2019 2018 Stock options and restricted stock units 11,309 13,867 60,589 Common stock warrants 22,140 19,820 25,798 Convertible senior notes 25,073 20,305 23,820 Unvested shares 647 728 582 Employee stock purchase plan 553 165 140 Total anti-dilutive securities 59,722 54,885 110,929

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Lease Expense Components and Other Information Related to Leases	The components of lease expense for the year ended December 31, 2020 were as follows (in thousands): Year Ended December 31, 2020 2019 Fixed operating lease costs $ 70,254 $ 29,422 Variable operating lease costs 15,625 5,737 Short term lease costs 6,375 2,512 Sublease income (8,594) (3,381) Finance lease costs Amortization of finance right-of-use assets 2,446 5,029 Total lease costs $ 86,106 $ 39,319 Other information related to leases was as follows: December 31, Weighted Average Remaining Lease Term: Operating leases 8.6 years Weighted Average Discount Rate: Operating leases 4 % Cash flows related to leases were as follows (in thousands): Year Ended December 31, 2020 2019 Cash flows from operating activities: Payments for operating lease liabilities $ (46,901) $ (33,340) Cash flows from financing activities: Principal payments on finance lease obligation $ (2,446) $ (5,029) Supplemental Cash Flow Data: Right-of-use assets obtained in exchange for operating lease obligations $ 342,662 $ 40,555
Future Minimum Lease Payments under Non-Cancelable Operating Leases	Future minimum lease payments under non-cancelable operating leases (with initial lease terms in excess of one year) as of December 31, 2020 are as follows (in thousands): Operating Year: 2021 $ 70,774 2022 78,724 2023 72,478 2024 54,095 2025 49,430 Thereafter 240,827 Total $ 566,328 Less: amount representing interest 82,811 Less: leases executed but not yet commenced 21,914 Less: lease incentives and transfer to held for sale 19,194 Total $ 442,409

SEGMENT AND GEOGRAPHICAL INFO_2

SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Information on the reportable segments revenue and segment operating profit are as follows (in thousands): Year Ended December 31, 2020 Cash App Seller Total Revenue Transaction-based revenue $ 233,747 $ 3,061,231 $ 3,294,978 Subscription and services-based revenue 1,163,096 376,307 1,539,403 Hardware revenue — 91,654 91,654 Bitcoin revenue 4,571,543 — 4,571,543 Segment revenue 5,968,386 3,529,192 9,497,578 Segment gross profit $ 1,225,578 $ 1,507,831 $ 2,733,409 Year Ended December 31, 2019 Cash App Seller Total Revenue Transaction-based revenue $ 72,865 $ 3,008,209 $ 3,081,074 Subscription and services-based revenue 516,269 369,274 885,543 Hardware revenue — 84,505 84,505 Bitcoin revenue 516,465 — 516,465 Segment revenue 1,105,599 3,461,988 4,567,587 Segment gross profit $ 457,668 $ 1,390,427 $ 1,848,095 Year Ended December 31, 2018 Cash App Seller Total Revenue Transaction-based revenue $ 42,715 $ 2,428,736 $ 2,471,451 Subscription and services-based revenue 220,819 222,279 443,098 Hardware revenue — 68,503 68,503 Bitcoin revenue 166,517 — 166,517 Segment revenue 430,051 2,719,518 3,149,569 Segment gross profit $ 194,835 $ 1,072,496 $ 1,267,331
Reconciliation of Revenue from Segments to Consolidated	The amounts in the tables above exclude the Caviar business, a food ordering and delivery platform business, which was sold in the year ended December 31, 2019. A reconciliation of total segment revenues, as indicated above, to the Company's consolidated revenues is as follows (in thousands): Year Ended December 31, 2020 2019 2018 Total segment revenue $ 9,497,578 $ 4,567,587 $ 3,149,569 Caviar revenue — 145,913 148,608 Total net revenue $ 9,497,578 $ 4,713,500 $ 3,298,177
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	A reconciliation of total segment gross profit to the Company's income before applicable income taxes is as follows (in thousands): Year Ended December 31, 2020 2019 2018 Total segment gross profit $ 2,733,409 $ 1,848,095 $ 1,267,331 Add: Caviar gross profit — 41,590 36,369 Total reported operating gross profit 2,733,409 1,889,685 1,303,700 Less: Product development 881,826 670,606 497,479 Less: Sales and marketing 1,109,670 624,832 411,151 Less: General and administrative 579,203 436,250 339,245 Less: Transaction and loan losses 177,670 126,959 88,077 Less: Amortization of acquired customer assets 3,855 4,481 4,362 Less: Gain on sale of asset group — (373,445) — Less: Interest expense, net 56,943 21,516 17,982 Less: Other expense (income), net (291,725) 273 (18,469) Income (loss) before applicable income taxes $ 215,967 $ 378,213 $ (36,127)
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): Year Ended December 31, 2020 2019 2018 Revenue United States $ 9,186,440 $ 4,472,473 $ 3,138,859 International 311,138 241,027 159,318 Total net revenue $ 9,497,578 $ 4,713,500 $ 3,298,177
Long-Lived Assets by Geographic Area	The following table sets forth long-lived assets by geographic area (in thousands): December 31, 2020 2019 Long-lived assets United States $ 1,086,379 $ 586,702 International 58,342 11,064 Total long-lived assets $ 1,144,721 $ 597,766

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flow Information	The supplemental disclosures of cash flow information consist of the following (in thousands): Year Ended December 31, 2020 2019 2018 Supplemental Cash Flow Data: Cash paid for interest $ 3,857 $ 5,677 $ 4,125 Cash paid for income taxes 6,001 2,744 1,622 Supplemental disclosures of non-cash investing and financing activities: Right-of-use assets obtained in exchange for operating lease obligations 342,662 40,555 — Change in purchases of property and equipment in accounts payable and accrued expenses (3,975) (419) 15,067 Unpaid business combination purchase price 8,974 8,411 3,995 Non-cash proceeds from sale of asset group — 100,000 — Fair value of common stock issued related to business combination (35,318) — (140,107) Recovery of common stock in connection with indemnification settlement agreement — 789 2,745 Fair value of common stock issued to settle the conversion of senior notes, due 2022 (1,398,829) — (571,408) Fair value of shares received to settle senior note hedges, due 2022 369,015 — 544,276

DESCRIPTION OF BUSINESS AND S_4

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	Jan. 01, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2020USD ($)segment	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)customerthird_party_processor	Dec. 31, 2019USD ($)third_party_processorcustomer	Dec. 31, 2018USD ($)customer	Jan. 01, 2019USD ($)	Dec. 31, 2017USD ($)
Concentration Risk [Line Items]
Advertising costs					$ 224,700,000	$ 142,700,000	$ 101,900,000
Selling and marketing expenses not directly related to a revenue generating transaction					635,300,000	279,700,000	149,000,000
Interest income					18,300,000	23,400,000	19,800,000
Interest expense					75,200,000	44,900,000	37,800,000
Restricted cash, current		$ 30,279,000	$ 30,279,000		30,279,000	38,873,000
Restricted cash, noncurrent		13,526,000	13,526,000		13,526,000	12,715,000
Capitalized internally developed software during the period					42,000,000	22,500,000
Amortization expense related to capitalized internally developed software					19,800,000	18,900,000	10,600,000
Operating lease right-of-use assets		456,888,000	456,888,000		456,888,000	113,148,000
Operating lease liabilities		442,409,000	442,409,000		442,409,000
Asset retirement obligation		3,700,000	3,700,000		3,700,000
Asset retirement obligation, associated asset net of depreciation		233,520,000	$ 233,520,000		$ 233,520,000	149,194,000
Measurement period for business combinations					1 year
Intangible assets impairment					$ 0	0	0
Number of reportable segments \| segment			2
Number of operating segments \| segment			2
Goodwill, impairment charges				$ 0	$ 0	0	0
Settlement period for customers payable					1 day
Impact of accounting standards update adoption		(2,681,569,000)	$ (2,681,569,000)		$ (2,681,569,000)	(1,715,050,000)	(1,120,501,000)		$ (786,333,000)
Bitcoin
Concentration Risk [Line Items]
Indefinite-lived intangible asset acquired		50,000,000
Impairment of indefinite-lived asset					0
Additional Paid-in Capital
Concentration Risk [Line Items]
Impact of accounting standards update adoption		(2,955,464,000)	(2,955,464,000)		(2,955,464,000)	(2,223,749,000)	(2,012,328,000)		(1,630,386,000)
Retained Earnings
Concentration Risk [Line Items]
Impact of accounting standards update adoption		297,223,000	297,223,000		297,223,000	$ 510,328,000	$ 885,774,000		842,735,000
Cumulative Effect, Period of Adoption, Adjustment
Concentration Risk [Line Items]
Impact of accounting standards update adoption									4,586,000
Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings
Concentration Risk [Line Items]
Impact of accounting standards update adoption									$ 4,586,000
Leasehold Improvements Under Asset Retirement Obligation
Concentration Risk [Line Items]
Asset retirement obligation, associated asset net of depreciation		$ 1,100,000	$ 1,100,000		$ 1,100,000
Customer Concentration Risk \| Net Revenue
Concentration Risk [Line Items]
Number of customers \| customer					0	0	0
Credit Concentration Risk \| Settlements Receivable
Concentration Risk [Line Items]
Number of third party processors \| third_party_processor					2	3
Third Party Processor One \| Credit Concentration Risk \| Settlements Receivable
Concentration Risk [Line Items]
Concentration risk (less than)					59.00%	48.00%
Third Party Processor Two \| Credit Concentration Risk \| Settlements Receivable
Concentration Risk [Line Items]
Concentration risk (less than)					27.00%	29.00%
Third Party Processor Three \| Credit Concentration Risk \| Settlements Receivable
Concentration Risk [Line Items]
Concentration risk (less than)						9.00%
Minimum
Concentration Risk [Line Items]
Settlements receivable period					1 day
Maximum
Concentration Risk [Line Items]
Settlements receivable period					2 days
Accounting Standards Update 2016-02
Concentration Risk [Line Items]
Operating lease right-of-use assets								$ 112,000,000
Operating lease liabilities								135,600,000
Derecognition of build-to-suit lease asset								149,000,000
Derecognition of build-to-suit lease liability								$ 149,000,000
Accounting Standards Update 2020-06 \| Cumulative Effect, Period of Adoption, Adjustment \| Convertible Debt \| Scenario, Forecast
Concentration Risk [Line Items]
Debt instrument increase	$ 399,200,000
Accounting Standards Update 2020-06 \| Cumulative Effect, Period of Adoption, Adjustment \| Additional Paid-in Capital \| Scenario, Forecast
Concentration Risk [Line Items]
Impact of accounting standards update adoption	502,700,000
Accounting Standards Update 2020-06 \| Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings \| Scenario, Forecast
Concentration Risk [Line Items]
Impact of accounting standards update adoption	$ 103,500,000
Subscription and services-based revenue
Concentration Risk [Line Items]
Description of timing					The Company considers that it satisfies its performance obligations over time and as such recognizes revenue ratably over the term of the relevant arrangements, which vary from one month to twenty four months for website hosting, and one year to ten years for domain name registration.
Contract with customer, term					1 month
Hardware revenue
Concentration Risk [Line Items]
Description of timing					The Company offers hardware installment sales to customers with terms ranging from three to twenty four months.

DESCRIPTION OF BUSINESS AND S_5

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2020
Capitalized software
Property, Plant and Equipment [Line Items]
Useful Life	18 months
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful Life	7 years
Minimum \| Computer and data center equipment
Property, Plant and Equipment [Line Items]
Useful Life	2 years
Maximum \| Computer and data center equipment
Property, Plant and Equipment [Line Items]
Useful Life	3 years
Maximum \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful Life	10 years

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue by Revenue Source (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Transaction-based revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 3,294,978	$ 3,081,074	$ 2,471,451
Subscription and services-based revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,447,188	883,922	499,010
Revenue from other sources	92,215	147,534	92,696
Hardware revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	91,654	84,505	68,503
Bitcoin revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 4,571,543	$ 516,465	$ 166,517

REVENUE - Deferred Revenue (Det

REVENUE - Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Movement in Deferred Revenue [Roll Forward]
Deferred revenue, beginning of the period	$ 44,331	$ 36,451
Deferred revenue, end of the period	51,804	44,331
Deferred revenue arising from business combination	800	0
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$ 38,190	$ 31,510

INVESTMENTS IN DEBT SECURITIE_2

INVESTMENTS IN DEBT SECURITIES - Short-Term and Long-Term Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,154,356
Fair Value	1,159,062
Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	692,901	$ 490,299
Gross Unrealized Gains	2,478	2,229
Gross Unrealized Losses	(267)	(72)
Fair Value	695,112	492,456
Short-term debt securities \| U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	153,386	131,124
Gross Unrealized Gains	782	409
Gross Unrealized Losses	(164)	(11)
Fair Value	154,004	131,522
Short-term debt securities \| Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	76,957	67,169
Gross Unrealized Gains	256	580
Gross Unrealized Losses	(14)	(28)
Fair Value	77,199	67,721
Short-term debt securities \| Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,999
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	4,999
Short-term debt securities \| Municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,377	6,667
Gross Unrealized Gains	57	109
Gross Unrealized Losses	(3)	0
Fair Value	10,431	6,776
Short-term debt securities \| U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	404,194	264,069
Gross Unrealized Gains	1,244	1,083
Gross Unrealized Losses	(4)	(17)
Fair Value	405,434	265,135
Short-term debt securities \| Foreign government securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	42,988	21,270
Gross Unrealized Gains	139	48
Gross Unrealized Losses	(82)	(16)
Fair Value	43,045	21,302
Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	461,455	533,853
Gross Unrealized Gains	2,552	3,968
Gross Unrealized Losses	(57)	(518)
Fair Value	463,950	537,303
Long-term debt securities \| U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	168,762	63,645
Gross Unrealized Gains	519	612
Gross Unrealized Losses	(3)	(189)
Fair Value	169,278	64,068
Long-term debt securities \| Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	174,655	141,307
Gross Unrealized Gains	1,401	1,832
Gross Unrealized Losses	(42)	(61)
Fair Value	176,014	143,078
Long-term debt securities \| Municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,045	9,594
Gross Unrealized Gains	15	151
Gross Unrealized Losses	0	(39)
Fair Value	1,060	9,706
Long-term debt securities \| U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	91,642	294,682
Gross Unrealized Gains	433	1,287
Gross Unrealized Losses	(2)	(190)
Fair Value	92,073	295,779
Long-term debt securities \| Foreign government securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	25,351	24,625
Gross Unrealized Gains	184	86
Gross Unrealized Losses	(10)	(39)
Fair Value	$ 25,525	$ 24,672

INVESTMENTS IN DEBT SECURITIE_3

INVESTMENTS IN DEBT SECURITIES - Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Short-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	$ 126,843	$ 64,383
Less than 12 Months, Gross Unrealized Losses	(265)	(60)
Greater than 12 months, Fair Value	2,505	22,482
Greater than 12 months, Gross Unrealized Losses	(2)	(12)
Total, Fair Value	129,348	86,865
Total, Gross Unrealized Losses	(267)	(72)
Long-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	49,182	93,046
Less than 12 Months, Gross Unrealized Losses	(57)	(490)
Greater than 12 months, Fair Value		0
Greater than 12 months, Gross Unrealized Losses	0	(28)
Total, Fair Value	49,182	93,046
Total, Gross Unrealized Losses	(57)	(518)
U.S. agency securities \| Short-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	41,711	23,896
Less than 12 Months, Gross Unrealized Losses	(162)	(9)
Greater than 12 months, Fair Value	2,505	4,996
Greater than 12 months, Gross Unrealized Losses	(2)	(2)
Total, Fair Value	44,216	28,892
Total, Gross Unrealized Losses	(164)	(11)
U.S. agency securities \| Long-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	1,406	16,740
Less than 12 Months, Gross Unrealized Losses	(3)	(189)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	1,406	16,740
Total, Gross Unrealized Losses	(3)	(189)
Corporate bonds \| Short-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	15,255	5,507
Less than 12 Months, Gross Unrealized Losses	(14)	(27)
Greater than 12 months, Fair Value	0	2,502
Greater than 12 months, Gross Unrealized Losses	0	(1)
Total, Fair Value	15,255	8,009
Total, Gross Unrealized Losses	(14)	(28)
Corporate bonds \| Long-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	28,189	16,708
Less than 12 Months, Gross Unrealized Losses	(42)	(61)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	28,189	16,708
Total, Gross Unrealized Losses	(42)	(61)
Municipal securities \| Short-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	2,566
Less than 12 Months, Gross Unrealized Losses	(3)
Greater than 12 months, Fair Value	0
Greater than 12 months, Gross Unrealized Losses	0
Total, Fair Value	2,566
Total, Gross Unrealized Losses	(3)
Municipal securities \| Long-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value		1,005
Less than 12 Months, Gross Unrealized Losses		(39)
Greater than 12 months, Fair Value		0
Greater than 12 months, Gross Unrealized Losses		0
Total, Fair Value		1,005
Total, Gross Unrealized Losses		(39)
U.S. government securities \| Short-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	45,970	21,481
Less than 12 Months, Gross Unrealized Losses	(4)	(8)
Greater than 12 months, Fair Value	0	14,984
Greater than 12 months, Gross Unrealized Losses	0	(9)
Total, Fair Value	45,970	36,465
Total, Gross Unrealized Losses	(4)	(17)
U.S. government securities \| Long-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	8,658	42,210
Less than 12 Months, Gross Unrealized Losses	(2)	(162)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	(28)
Total, Fair Value	8,658	42,210
Total, Gross Unrealized Losses	(2)	(190)
Foreign government securities \| Short-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	21,341	13,499
Less than 12 Months, Gross Unrealized Losses	(82)	(16)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	21,341	13,499
Total, Gross Unrealized Losses	(82)	(16)
Foreign government securities \| Long-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	10,929	16,383
Less than 12 Months, Gross Unrealized Losses	(10)	(39)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	10,929	16,383
Total, Gross Unrealized Losses	$ (10)	$ (39)

INVESTMENTS IN DEBT SECURITIE_4

INVESTMENTS IN DEBT SECURITIES - Contractual Maturities of Short-Term and Long-Term Investments (Details) $ in Thousands	Dec. 31, 2020USD ($)
Amortized Cost
Due in one year or less	$ 692,901
Due in one to five years	461,455
Amortized Cost	1,154,356
Fair Value
Due in one year or less	695,112
Due in one to five years	463,950
Fair Value	$ 1,159,062

CUSTOMER FUNDS - Assets Underly

CUSTOMER FUNDS - Assets Underlying Customer Funds (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Customer funds	$ 2,037,832	$ 676,292
Customer Funds In Transit
Debt Securities, Available-for-sale [Line Items]
Customer funds	262,562	0
U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Customer funds	113,178	0
U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Customer funds	333,346	238,031
Cash
Debt Securities, Available-for-sale [Line Items]
Customer funds	145,577	422,459
Cash Equivalents \| Money market funds
Debt Securities, Available-for-sale [Line Items]
Customer funds	777,193	233
Cash Equivalents \| Reverse repurchase agreement
Debt Securities, Available-for-sale [Line Items]
Customer funds	246,880	0
Cash Equivalents \| U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Customer funds	47,300	8,585
Cash Equivalents \| U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Customer funds	$ 111,796	$ 6,984

CUSTOMER FUNDS - Investments wi

CUSTOMER FUNDS - Investments within Customer Funds (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,154,356
Fair Value	1,159,062
Customer funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	446,479	$ 237,909
Gross Unrealized Gains	50	144
Gross Unrealized Losses	(5)	(22)
Fair Value	446,524	238,031
Customer funds \| U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	113,156
Gross Unrealized Gains	22
Gross Unrealized Losses	0
Fair Value	113,178
Customer funds \| U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	333,323	237,909
Gross Unrealized Gains	28	144
Gross Unrealized Losses	(5)	(22)
Fair Value	$ 333,346	$ 238,031

CUSTOMER FUNDS - Debt Securitie

CUSTOMER FUNDS - Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - Customer funds - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 73,609	$ 56,984
Less than 12 Months, Gross Unrealized Losses	(5)	(22)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	73,609	56,984
Total, Gross Unrealized Losses	(5)	(22)
U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	73,609	56,984
Less than 12 Months, Gross Unrealized Losses	(5)	(22)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	73,609	56,984
Total, Gross Unrealized Losses	$ (5)	$ (22)

CUSTOMER FUNDS - Contractual Ma

CUSTOMER FUNDS - Contractual Maturities of Short-Term and Long-Term Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amortized Cost
Due in one year or less	$ 692,901
Due in one to five years	461,455
Amortized Cost	1,154,356
Fair Value
Due in one year or less	695,112
Due in one to five years	463,950
Fair Value	1,159,062
Customer funds
Amortized Cost
Due in one year or less	446,479
Due in one to five years	0
Amortized Cost	446,479	$ 237,909
Fair Value
Due in one year or less	446,524
Due in one to five years	0
Fair Value	$ 446,524	$ 238,031

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer Funds	$ 2,037,832	$ 676,292
Short-term debt securities	695,112	492,456
Long-term debt securities	463,950	537,303
Investment in marketable equity security	376,258	0
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable equity security	376,258	0
Total	4,052,716	1,066,652
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable equity security	0	0
Total	863,219	497,406
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable equity security	0	0
Total	0	0
Money market funds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	1,694,736	213,576
Customer Funds	777,193	233
Money market funds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer Funds	0	0
Money market funds \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer Funds	0	0
Reverse repurchase agreement \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer Funds	246,880	0
Reverse repurchase agreement \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer Funds	0	0
Reverse repurchase agreement \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer Funds	0	0
U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer Funds	113,178	0
U.S. agency securities \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer Funds	0	0
Short-term debt securities	0	0
Long-term debt securities	0	0
U.S. agency securities \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	41,186	19,976
Customer Funds	160,478	8,585
Short-term debt securities	154,004	131,522
Long-term debt securities	169,278	64,068
U.S. agency securities \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer Funds	0	0
Short-term debt securities	0	0
Long-term debt securities	0	0
Corporate bonds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Long-term debt securities	0	0
Corporate bonds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	77,199	67,721
Long-term debt securities	176,014	143,078
Corporate bonds \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Long-term debt securities	0	0
Commercial paper \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Commercial paper \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Commercial paper \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Commercial paper \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Commercial paper \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	4,999	0
Commercial paper \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Municipal securities \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Long-term debt securities	0	0
Municipal securities \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	10,431	6,776
Long-term debt securities	1,060	9,706
Municipal securities \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Long-term debt securities	0	0
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer Funds	333,346	238,031
U.S. government securities \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	15,000	46,914
Customer Funds	445,142	245,015
Short-term debt securities	405,434	265,135
Long-term debt securities	92,073	295,779
U.S. government securities \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer Funds	0	0
Short-term debt securities	0	0
Long-term debt securities	0	0
U.S. government securities \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer Funds	0	0
Short-term debt securities	0	0
Long-term debt securities	0	0
Foreign government securities \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Short-term debt securities	0	0
Long-term debt securities	0	0
Foreign government securities \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Short-term debt securities	43,045	21,302
Long-term debt securities	25,525	24,672
Foreign government securities \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Short-term debt securities	0	0
Long-term debt securities	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value and Carrying Value of Convertible Senior Notes (Details) - Fair Value, Measurements, Recurring - Level 2 - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 2,586,924	$ 938,832
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	5,693,241	1,541,333
2027 Notes \| Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	458,496	0
2027 Notes \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	644,000	0
2026 Notes \| Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	482,204	0
2026 Notes \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	638,250	0
2025 Notes \| Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	858,332	0
2025 Notes \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,912,440	0
2023 Notes \| Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	780,046	748,564
2023 Notes \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	2,417,820	962,516
2022 Notes \| Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	7,846	190,268
2022 Notes \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 80,731	$ 578,817

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value and Carrying Value of Loans Held for Sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Carrying Value \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	$ 462,665	$ 164,834
Fair Value \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	467,805	173,360
Loans Receivable Held-For-Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Excess amortized cost over fair value of loans charge	$ 26,000	$ 23,200	$ 13,200

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale	$ 462,665	$ 164,834
Loans held for sale forgiven	46,400
Revenue	9,497,578	4,713,500	$ 3,298,177
Paycheck Protection Program, CARES Act Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale	420,800
Revenue	2,800
Loans Receivable Held-For-Sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Excess amortized cost over fair value of loans charge	$ 26,000	$ 23,200	$ 13,200

PROPERTY AND EQUIPMENT, NET - S

PROPERTY AND EQUIPMENT, NET - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 461,641	$ 327,723
Less: Accumulated depreciation and amortization	(228,121)	(178,529)
Property and equipment, net	233,520	149,194
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	168,125	111,942
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	139,174	106,469
Capitalized software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	119,452	81,984
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 34,890	$ 27,328

PROPERTY AND EQUIPMENT, NET - N

PROPERTY AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense on property and equipment	$ 65	$ 60.6	$ 46.8
Finance leased assets, before accumulated depreciation	18.7	13.1
Finance leased assets, accumulated amortization	$ 13.1	$ 10.7

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($)	May 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Consideration, net of cash acquired		$ 79,221,000	$ 20,372,000	$ 112,399,000
Goodwill amount expected to be tax deductible		0	0	0
Intangible assets (excluding goodwill) amount expected to be tax deductible		0	0	0
Purchase price adjustments to current assets			2,300,000
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Consideration, net of cash acquired		126,700,000	25,200,000	$ 15,400,000
Weebly, Inc
Business Acquisition [Line Items]
Goodwill amount expected to be tax deductible		0
Intangible assets (excluding goodwill) amount expected to be tax deductible		0
Percent acquired of outstanding shares	100.00%
Cash consideration	$ 132,432,000
Equity consideration (in shares)	2,418,271
Equity consideration fair value	$ 140,107,000
Amount paid to pay outstanding and unvested options	17,700,000
Post combination compensation expense	$ 2,600,000
Purchase price adjustment to goodwill			3,700,000
Purchase price adjustment to liabilities assumed			$ 4,700,000
Cash withheld as security for indemnification obligations		$ 500,000
Shares of the total share consideration remaining withheld for indemnification purposes (in shares)		8,873

ACQUISITIONS - Assets Acquired

ACQUISITIONS - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	May 31, 2018	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Recognized amounts of identifiable assets acquired and liabilities assumed:
Goodwill		$ 316,701	$ 295,760	$ 266,345	$ 261,705
Weebly, Inc
Consideration:
Cash	$ 132,432
Stock (2,418,271 shares of Class A common stock)	$ 140,107
Equity consideration (in shares)	2,418,271
Consideration	$ 272,539
Recognized amounts of identifiable assets acquired and liabilities assumed:
Current assets (inclusive of cash acquired of $25,758)	46,978
Cash acquired	25,758
Total liabilities assumed (including deferred revenue of $22,800)	(37,509)
Deferred revenue	22,800
Total identifiable net assets acquired	79,330
Goodwill	193,209
Total	272,539
Intangible customer assets \| Weebly, Inc
Recognized amounts of identifiable assets acquired and liabilities assumed:
Intangible assets	42,700
Intangible technology assets \| Weebly, Inc
Recognized amounts of identifiable assets acquired and liabilities assumed:
Intangible assets	14,900
Intangible trade name \| Weebly, Inc
Recognized amounts of identifiable assets acquired and liabilities assumed:
Intangible assets	11,300
Intangible other assets \| Weebly, Inc
Recognized amounts of identifiable assets acquired and liabilities assumed:
Intangible assets	$ 961

SALE OF ASSET GROUP - Narrative

SALE OF ASSET GROUP - Narrative (Details) $ in Thousands	Oct. 31, 2019USD ($)
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Caviar Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total gross proceeds received from sale of asset group	$ 410,000
Cash received from sale of asset group	310,000
Value of preferred stock received from sale of asset group	$ 100,000
Assets, Total \| Caviar Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration risk (less than)	5.00%

SALE OF ASSET GROUP - Calculati

SALE OF ASSET GROUP - Calculation of the Gain on the Sale (Details) - USD ($) $ in Thousands	Oct. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net assets sold:
Gain on sale of asset group		$ 0	$ 373,445	$ 0
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Caviar Business
Consideration received:
Cash	$ 310,000
Preferred Stock	100,000
Total gross proceeds received from sale of asset group	410,000
Net assets sold:
Intangible and other assets, net	8,659
Goodwill	4,221
Disposal costs and other adjustments	23,675
Total net assets sold	36,555
Gain on sale of asset group	$ 373,445

GOODWILL - Schedule of Change i

GOODWILL - Schedule of Change in Carrying Value of Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Beginning balance	$ 295,760	$ 266,345	$ 261,705
Acquisitions	20,079	49,571	10,832
Sale of asset group			(4,221)
Other adjustments	862	785	(1,971)
Ending balance	316,701	316,701	$ 266,345
Cash App
Goodwill [Roll Forward]
Beginning balance	112,389
Acquisitions	15,587
Other adjustments	862
Ending balance	128,838	128,838
Seller
Goodwill [Roll Forward]
Beginning balance	183,371
Acquisitions	4,492
Other adjustments	0
Ending balance	$ 187,863	$ 187,863

GOODWILL - Narrative (Details)

GOODWILL - Narrative (Details)	6 Months Ended		12 Months Ended
	Dec. 31, 2020USD ($)segment	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Goodwill [Line Items]
Number of reportable segments \| segment	2
Number of operating segments \| segment	2
Goodwill	$ 316,701,000	$ 295,760,000	$ 316,701,000	$ 266,345,000	$ 261,705,000
Goodwill, impairment charges		0	0	$ 0	$ 0
Seller
Goodwill [Line Items]
Goodwill	187,863,000	183,371,000	187,863,000
Cash App
Goodwill [Line Items]
Goodwill	$ 128,838,000	$ 112,389,000	$ 128,838,000

ACQUIRED INTANGIBLE ASSETS - Sc

ACQUIRED INTANGIBLE ASSETS - Schedule of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 202,326	$ 114,499
Accumulated Amortization	(64,714)	(45,420)
Net	137,612	69,079	$ 77,102	$ 14,334
Intangible technology assets
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	119,508	53,900
Accumulated Amortization	(43,084)	(31,873)
Net	$ 76,424	$ 22,027
Intangible technology assets \| Weighted Average
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life	5 years	5 years
Intangible customer assets
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 58,556	$ 44,000
Accumulated Amortization	(10,796)	(6,934)
Net	$ 47,760	$ 37,066
Intangible customer assets \| Weighted Average
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life	11 years	12 years
Intangible trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 18,529	$ 11,300
Accumulated Amortization	(8,031)	(4,473)
Net	$ 10,498	$ 6,827
Intangible trade name \| Weighted Average
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life	6 years	4 years
Intangible other assets
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 5,733	$ 5,299
Accumulated Amortization	(2,803)	(2,140)
Net	$ 2,930	$ 3,159
Intangible other assets \| Weighted Average
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Life	8 years	8 years

ACQUIRED INTANGIBLE ASSETS - Ch

ACQUIRED INTANGIBLE ASSETS - Change in Carrying Value of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	$ 69,079	$ 77,102	$ 14,334
Acquisitions	85,960	14,559	75,871
Amortization of Acquired Intangible Assets	(19,239)	(15,000)	(13,103)
Sale of asset group	0	(7,582)	0
Other adjustments	1,812	0	0
Ending balance	$ 137,612	$ 69,079	$ 77,102

ACQUIRED INTANGIBLE ASSETS - Na

ACQUIRED INTANGIBLE ASSETS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets impairment	$ 0	$ 0	$ 0

ACQUIRED INTANGIBLE ASSETS - Fu

ACQUIRED INTANGIBLE ASSETS - Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 27,679
2022	25,605
2023	24,353
2024	21,376
2025	14,548
Thereafter	24,051
Net	$ 137,612	$ 69,079	$ 77,102	$ 14,334

OTHER CONSOLIDATED BALANCE SH_5

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Inventory, net	$ 61,129	$ 47,683
Restricted cash	30,279	38,873
Processing costs receivable	148,606	67,281
Prepaid expenses	34,279	22,758
Accounts receivable, net	41,960	33,863
Other	66,814	39,951
Total	$ 383,067	$ 250,409

OTHER CONSOLIDATED BALANCE SH_6

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued expenses	$ 126,710	$ 128,387
Square Payroll payable	16,990	27,969
Accrued transaction losses	70,557	34,771
Accounts payable	47,089	42,116
Deferred revenue, current	44,908	38,104
Other	54,596	26,494
Total	$ 360,850	$ 297,841

OTHER CONSOLIDATED BALANCE SH_7

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Reserve for Transaction Losses (Details) - Transaction Losses - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Loss Contingency Accrual [Roll Forward]
Accrued transaction losses, beginning of the year	$ 34,771	$ 33,682
Provision for transaction losses	109,399	79,414
Charge-offs to accrued transaction losses	(73,613)	(78,325)
Accrued transaction losses, end of the year	$ 70,557	$ 34,771

OTHER CONSOLIDATED BALANCE SH_8

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Transaction Losses
Loss Contingencies [Line Items]
Provisions for transaction losses realized and written-off within the same period	$ 264.3	$ 99.4

OTHER CONSOLIDATED BALANCE SH_9

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) - Other Non-Current Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in non-marketable equity securities	$ 32,510	$ 110,000
Investment in marketable equity security	376,258	0
Investment in bitcoin (iii)	50,000	0
Non-current lease prepayments	0	45,738
Restricted cash	13,526	12,715
Other	26,956	27,935
Total	499,250	$ 196,388
Gain on investment in marketable equity security	276,300
Bitcoin
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of bitcoin investment	$ 136,500

OTHER CONSOLIDATED BALANCE S_10

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Statutory liabilities	$ 75,370	$ 54,762
Deferred revenue, non-current	6,896	6,227
Other	3,025	33,472
Total	$ 85,291	$ 94,461

INDEBTEDNESS - Facility Narrati

INDEBTEDNESS - Facility Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	May 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Feb. 23, 2021	Jan. 28, 2021	Nov. 20, 2020	Nov. 09, 2020	May 28, 2020
Debt Instrument [Line Items]
Loans held for sale forgiven		$ 46,400,000
Paycheck protection program liquidity facility advances outstanding		464,094,000	$ 0
Line of Credit \| Paycheck Protection Program Liquidity Facility
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 500,000,000
Paycheck protection program liquidity facility advances outstanding		464,100,000
Line of Credit \| Paycheck Protection Program Liquidity Facility \| Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 1,000,000,000
Paycheck protection program liquidity facility advances outstanding				$ 376,300,000
Revolving Secured Credit Facility \| Line of Credit \| 2015 Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 375,000,000
Revolving Secured Credit Facility \| Line of Credit \| 2020 Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 500,000,000
Debt covenant, minimum quarterly liquidity amount	$ 250,000,000
Unused commitment fee, percent	0.15%
Amounts drawn to date		0
Letters of credit outstanding		0
Remaining borrowing capacity		500,000,000
Unused commitment fees		$ 700,000	$ 600,000
Revolving Secured Credit Facility \| Line of Credit \| Federal Funds Rate \| 2020 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Secured Credit Facility \| Line of Credit \| LIBOR \| 2020 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Revolving Secured Credit Facility \| Line of Credit \| LIBOR \| Minimum \| 2020 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Additional basis spread on variable rate	0.25%
Revolving Secured Credit Facility \| Line of Credit \| LIBOR \| Maximum \| 2020 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Additional basis spread on variable rate	0.75%
Revolving Secured Credit Facility \| Convertible Debt \| Credit Agreement, Second Amendment
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 3,600,000,000

INDEBTEDNESS - Convertible Seni

INDEBTEDNESS - Convertible Senior Notes Narrative (Details) $ / shares in Units, shares in Millions	Nov. 13, 2020USD ($)day$ / shares	Mar. 05, 2020USD ($)day$ / shares	May 25, 2018USD ($)day$ / shares	Mar. 06, 2017USD ($)day$ / shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020USD ($)shares	Dec. 31, 2020USD ($)	Dec. 31, 2020USD ($)	May 28, 2020$ / shares
Debt Instrument [Line Items]
Principal payment on conversion of senior notes					$ 0	$ 0	$ 219,384,000
Loss on extinguishment of long-term debt					6,651,000	0	$ 5,047,000
Convertible Debt
Debt Instrument [Line Items]
Conversion price (in USD per share) \| $ / shares		$ 121.01		$ 22.95							$ 77.85
Carrying amount of equity component					502,708,000	194,392,000		$ 502,708,000	$ 502,708,000	$ 502,708,000
Issuance costs attributable to the liability component					28,958,000	5,564,000		28,958,000	28,958,000	28,958,000
2026 and 2027 Notes \| Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,150,000,000
Conversion rate	0.003343
Conversion price (in USD per share) \| $ / shares	$ 299.13
Redemption price, percentage	100.00%
Carrying amount of equity component	$ 198,000,000
Discounts and commissions payable	17,500,000
Third party offering costs	$ 1,000,000
Amount of if-converted value in excess of outstanding principal amount					0
2026 and 2027 Notes \| Debt Instrument, Conversion Term One \| Convertible Debt
Debt Instrument [Line Items]
Threshold trading days \| day	20
Threshold consecutive trading days \| day	30
Threshold percentage of stock price trigger	130.00%
2026 and 2027 Notes \| Debt Instrument, Conversion Term Two \| Convertible Debt
Debt Instrument [Line Items]
Threshold trading days \| day	5
Threshold consecutive trading days \| day	5
Threshold percentage of stock price trigger	98.00%
2026 Notes \| Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount	$ 575,000,000
Interest rate	0.00%
Conversion price (in USD per share) \| $ / shares	$ 299.13
Carrying amount of equity component					$ 85,595,000			$ 85,595,000	$ 85,595,000	$ 85,595,000
Effective interest rate of the liability component	3.35%				3.35%			3.35%	3.35%	3.35%
Issuance costs attributable to the liability component					$ 7,711,000			$ 7,711,000	$ 7,711,000	$ 7,711,000
2027 Notes \| Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount	$ 575,000,000
Interest rate	0.25%
Conversion price (in USD per share) \| $ / shares	$ 299.13
Carrying amount of equity component					$ 109,207,000			$ 109,207,000	$ 109,207,000	$ 109,207,000
Effective interest rate of the liability component	3.66%				3.66%			3.66%	3.66%	3.66%
Issuance costs attributable to the liability component					$ 7,370,000			$ 7,370,000	$ 7,370,000	$ 7,370,000
2025 Notes \| Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,000,000,000
Interest rate		0.125%
Conversion rate		0.0082641
Conversion price (in USD per share) \| $ / shares		$ 121.01
Redemption price, percentage		100.00%
Carrying amount of equity component		$ 154,600,000			$ 152,258,000			$ 152,258,000	$ 152,258,000	$ 152,258,000
Effective interest rate of the liability component		3.81%			3.81%			3.81%	3.81%	3.81%
Discounts and commissions payable		$ 14,300,000
Third party offering costs		900,000
Issuance costs attributable to the liability component	$ 15,400,000	$ 12,800,000			$ 11,333,000			$ 11,333,000	$ 11,333,000	$ 11,333,000
Amount of if-converted value in excess of outstanding principal amount					798,600,000
2025 Notes \| Debt Instrument, Conversion Term One \| Convertible Debt
Debt Instrument [Line Items]
Threshold trading days \| day		20
Threshold consecutive trading days \| day		30
Threshold percentage of stock price trigger		130.00%
2025 Notes \| Debt Instrument, Conversion Term Two \| Convertible Debt
Debt Instrument [Line Items]
Threshold trading days \| day		5
Threshold consecutive trading days \| day		5
Threshold percentage of stock price trigger		98.00%
2023 Notes \| Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount			$ 862,500,000
Interest rate			0.50%
Conversion rate			0.0128456
Conversion price (in USD per share) \| $ / shares			$ 77.85
Carrying amount of equity component			$ 155,300,000		$ 154,019,000	154,019,000		$ 154,019,000	$ 154,019,000	$ 154,019,000
Effective interest rate of the liability component			4.69%		4.69%			4.69%	4.69%	4.69%
Discounts and commissions payable			$ 6,000,000
Third party offering costs			800,000
Issuance costs attributable to the liability component			$ 5,600,000		$ 2,474,000	3,418,000		$ 2,474,000	$ 2,474,000	$ 2,474,000
Amount of if-converted value in excess of outstanding principal amount					1,548,800,000
2023 Notes \| Debt Instrument, Conversion Term One \| Convertible Debt
Debt Instrument [Line Items]
Threshold trading days \| day			20
Threshold consecutive trading days \| day			30
Threshold percentage of stock price trigger			130.00%
2023 Notes \| Debt Instrument, Conversion Term Two \| Convertible Debt
Debt Instrument [Line Items]
Threshold trading days \| day			5
Threshold consecutive trading days \| day			5
Threshold percentage of stock price trigger			98.00%
2022 Notes \| Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount				$ 440,000,000
Interest rate				0.375%
Conversion rate				0.0435749
Conversion price (in USD per share) \| $ / shares				$ 22.95
Converted principal amount					203,200,000				431,500,000
Principal payment on conversion of senior notes					$ 219,400,000
Shares issued in connection with conversion (in shares) \| shares					8.9			16.1
Carrying amount of equity component				$ 86,200,000	$ 1,629,000	40,373,000		$ 1,629,000	$ 1,629,000	$ 1,629,000
Effective interest rate of the liability component				5.34%	5.34%			5.34%	5.34%	5.34%
Discounts and commissions payable				$ 11,000,000
Third party offering costs				800,000
Issuance costs attributable to the liability component				$ 9,400,000	$ 70,000	$ 2,146,000		$ 70,000	$ 70,000	$ 70,000
Loss on extinguishment of long-term debt					6,700,000					$ 11,700,000
Amount of if-converted value in excess of outstanding principal amount					$ 72,500,000
2022 Notes \| Debt Instrument, Conversion Term One \| Convertible Debt
Debt Instrument [Line Items]
Threshold trading days \| day				20
Threshold consecutive trading days \| day				30
Threshold percentage of stock price trigger				130.00%
2022 Notes \| Debt Instrument, Conversion Term Two \| Convertible Debt
Debt Instrument [Line Items]
Threshold trading days \| day				5
Threshold consecutive trading days \| day				5
Threshold percentage of stock price trigger				98.00%

INDEBTEDNESS - Net Carrying Amo

INDEBTEDNESS - Net Carrying Amount of Convertible Notes (Details) - Convertible Debt - USD ($) $ in Thousands	Dec. 31, 2020	Nov. 13, 2020	Mar. 05, 2020	Dec. 31, 2019	May 25, 2018	Mar. 06, 2017
Debt Instrument [Line Items]
Principal outstanding	$ 3,021,045			$ 1,074,226
Unamortized debt discount	(405,163)			(129,830)
Unamortized debt issuance costs	(28,958)			(5,564)
Net carrying value	2,586,924			938,832
2027 Notes
Debt Instrument [Line Items]
Principal outstanding	575,000
Unamortized debt discount	(109,134)
Unamortized debt issuance costs	(7,370)
Net carrying value	458,496
2026 Notes
Debt Instrument [Line Items]
Principal outstanding	575,000
Unamortized debt discount	(85,085)
Unamortized debt issuance costs	(7,711)
Net carrying value	482,204
2025 Notes
Debt Instrument [Line Items]
Principal outstanding	1,000,000
Unamortized debt discount	(130,335)
Unamortized debt issuance costs	(11,333)	$ (15,400)	$ (12,800)
Net carrying value	858,332
2023 Notes
Debt Instrument [Line Items]
Principal outstanding	862,500			862,500
Unamortized debt discount	(79,980)			(110,518)
Unamortized debt issuance costs	(2,474)			(3,418)	$ (5,600)
Net carrying value	780,046			748,564
2022 Notes
Debt Instrument [Line Items]
Principal outstanding	8,545			211,726
Unamortized debt discount	(629)			(19,312)
Unamortized debt issuance costs	(70)			(2,146)		$ (9,400)
Net carrying value	$ 7,846			$ 190,268

INDEBTEDNESS - Net Carrying A_2

INDEBTEDNESS - Net Carrying Amount of Equity Component of Convertible Notes (Details) - Convertible Debt - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 05, 2020	Dec. 31, 2019	May 25, 2018	Mar. 06, 2017
Debt Instrument [Line Items]
Amount allocated to conversion option	$ 509,524		$ 196,731
Less: allocated issuance costs	(6,816)		(2,339)
Equity component, net	502,708		194,392
2027 Notes
Debt Instrument [Line Items]
Amount allocated to conversion option	111,000
Less: allocated issuance costs	(1,793)
Equity component, net	109,207
2026 Notes
Debt Instrument [Line Items]
Amount allocated to conversion option	87,000
Less: allocated issuance costs	(1,405)
Equity component, net	85,595
2025 Notes
Debt Instrument [Line Items]
Amount allocated to conversion option	154,600
Less: allocated issuance costs	(2,342)
Equity component, net	152,258	$ 154,600
2023 Notes
Debt Instrument [Line Items]
Amount allocated to conversion option	155,250		155,250
Less: allocated issuance costs	(1,231)		(1,231)
Equity component, net	154,019		154,019	$ 155,300
2022 Notes
Debt Instrument [Line Items]
Amount allocated to conversion option	1,674		41,481
Less: allocated issuance costs	(45)		(1,108)
Equity component, net	$ 1,629		$ 40,373		$ 86,200

INDEBTEDNESS - Interest Expense

INDEBTEDNESS - Interest Expense on Convertible Notes (Details) - Convertible Debt - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Nov. 13, 2020	Mar. 05, 2020	May 25, 2018	Mar. 06, 2017
Debt Instrument [Line Items]
Contractual interest expense	$ 6,078	$ 5,108	$ 4,023
Amortization of debt discount and issuance costs	67,979	39,139	32,855
Total	$ 74,057	$ 44,247	$ 36,878
2027 Notes
Debt Instrument [Line Items]
Effective interest rate of the liability component	3.66%			3.66%
2026 Notes
Debt Instrument [Line Items]
Effective interest rate of the liability component	3.35%			3.35%
2025 Notes
Debt Instrument [Line Items]
Effective interest rate of the liability component	3.81%				3.81%
2023 Notes
Debt Instrument [Line Items]
Effective interest rate of the liability component	4.69%					4.69%
2022 Notes
Debt Instrument [Line Items]
Effective interest rate of the liability component	5.34%						5.34%

INDEBTEDNESS - Convertible Bond

INDEBTEDNESS - Convertible Bond Hedge and Warrant Transactions (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Nov. 13, 2020	Mar. 05, 2020	May 25, 2018	Mar. 06, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	May 28, 2020
Debt Instrument [Line Items]
Proceeds from issuance of warrants					$ 232,095	$ 0	$ 112,125
Convertible Debt
Debt Instrument [Line Items]
Conversion price of convertible debt (in USD per share)		$ 121.01		$ 22.95					$ 77.85
Conversion price of convertible debt after effect of warrants and note hedge (in USD per share)		$ 161.34		$ 31.18					$ 109.26
Convertible Debt \| 2027 Notes
Debt Instrument [Line Items]
Conversion price of convertible debt (in USD per share)	$ 299.13
Conversion price of convertible debt after effect of warrants and note hedge (in USD per share)	414.18
Convertible Debt \| 2026 Notes
Debt Instrument [Line Items]
Conversion price of convertible debt (in USD per share)	299.13
Conversion price of convertible debt after effect of warrants and note hedge (in USD per share)	$ 368.16
Common Stock Warrant, 2027 Notes
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)	1,920
Warrants, weighted average exercise price (in USD per share)	$ 414.18
Proceeds from issuance of warrants	$ 68,000
Common Stock Warrant, 2026 Notes
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)	1,920
Warrants, weighted average exercise price (in USD per share)	$ 368.16
Proceeds from issuance of warrants	$ 64,600
Common Stock Warrant, 2025 Notes
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)		8,260
Warrants, weighted average exercise price (in USD per share)		$ 161.34
Proceeds from issuance of warrants		$ 99,500
Common Stock Warrant, 2023 Notes
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)			11,100						11,100
Warrants, weighted average exercise price (in USD per share)			$ 109.26						$ 109.26
Proceeds from issuance of warrants			$ 112,100
Common Stock Warrant, 2022 Notes
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)				19,200
Warrants, weighted average exercise price (in USD per share)				$ 31.18
Proceeds from issuance of warrants				$ 57,200
Shares received upon exercise of convertible notes (in shares)					2,200			9,400
Options Held
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)	1,920	8,260							11,100
Convertible note hedge, option to purchase common stock, price (in USD per share)	$ 299.13	$ 121.01		$ 22.95					$ 77.85
Cost of convertible note hedge		$ 149,200	$ 172,600	$ 92,100
Options Held \| 2027 Notes
Debt Instrument [Line Items]
Cost of convertible note hedge	$ 104,300
Options Held \| 2026 Notes
Debt Instrument [Line Items]
Cost of convertible note hedge	$ 84,600

INCOME TAXES - Domestic and For

INCOME TAXES - Domestic and Foreign Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ 369,016	$ 456,335	$ 44,538
Foreign	(153,049)	(78,122)	(80,665)
Income (loss) before income tax	$ 215,967	$ 378,213	$ (36,127)

INCOME TAXES - Components of Pr

INCOME TAXES - Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 0	$ 114	$ (4)
State	4,016	930	752
Foreign	6,862	3,099	2,224
Total current provision for income taxes	10,878	4,143	2,972
Deferred:
Federal	(970)	(777)	(404)
State	(231)	(399)	35
Foreign	(6,815)	(200)	(277)
Total deferred provision for income taxes	(8,016)	(1,376)	(646)
Total provision for income taxes	$ 2,862	$ 2,767	$ 2,326

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Statutory Federal Income Tax Rate to Company's Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Tax at federal statutory rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	0.30%	0.10%	(1.10%)
Foreign rate differential	4.00%	1.40%	(14.70%)
Non-deductible meals	0.30%	0.30%	(3.40%)
Other non-deductible expenses	2.40%	0.20%	(0.90%)
Credits	(34.60%)	(13.90%)	164.80%
Other items	2.20%	(0.50%)	2.30%
Change in valuation allowance	153.90%	34.90%	(718.50%)
Share-based compensation	(155.40%)	(45.80%)	549.00%
Change in uncertain tax positions	2.30%	0.50%	(4.10%)
Sale of Caviar business line	0.00%	1.20%	0.00%
Non-deductible executive compensation	3.60%	0.60%	0.00%
Non-deductible acquisition-related costs	1.30%	0.70%	(0.80%)
Total	1.30%	0.70%	(6.40%)

INCOME TAXES - Tax Effects of T

INCOME TAXES - Tax Effects of Temporary Differences and Related Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Capitalized costs	$ 17,994	$ 23,708
Accrued expenses	47,653	33,044
Net operating loss carryforwards	962,069	575,245
Tax credit carryforwards	254,789	183,977
Share-based compensation	40,784	38,427
Deferred Interest	13,800	4,072
Other	0	3,424
Operating Lease, net	0	5,761
Total deferred tax assets	1,337,089	867,658
Valuation allowance	(1,238,010)	(859,564)
Total deferred tax assets, net of valuation allowance	99,079	8,094
Deferred tax liabilities:
Property, equipment and intangible assets	(12,784)	(6,862)
Indefinite-lived intangibles	(352)	(253)
Other	(1,115)	0
Operating Lease, net	(3,625)	0
Unrealized gain on investments	(73,425)	0
Total deferred tax liabilities	(91,301)	(7,115)
Net deferred tax assets (liabilities)	$ 7,778	$ 979

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Increase in valuation allowance	$ 378,400	$ 140,500
Unrecognized tax benefits	295,182	217,574	$ 198,540	$ 70,799
Unrecognized tax benefit that would impact annual effective tax rate	13,200
Total accrued interest and penalties related to uncertain tax positions	1,400	$ 500	$ 300
Undistributed earnings of non-U.S. subsidiaries	1,400
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	3,472,500
Federal \| Research Tax Credit Carryforward
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	196,800
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	3,888,900
State \| Research Tax Credit Carryforward
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	123,300
State \| California Enterprise Zone Credit Carryforward
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	3,400
Foreign
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	500,200
Foreign \| Research Tax Credit Carryforward \| CANADA
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	2,700
Foreign \| Research Tax Credit Carryforward \| AUSTRALIA
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	4,200
Maximum \| Tax examinations or lapse of applicable statute of limitations
Operating Loss Carryforwards [Line Items]
Reasonably possible decrease in unrecognized tax benefits	$ 11,400

INCOME TAXES Income Taxes - Rec

INCOME TAXES Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the year	$ 217,574	$ 198,540	$ 70,799
Gross decrease related to prior period tax positions	(2,615)	(11,571)
Gross increases related to prior period tax positions			513
Gross increases related to current period tax positions	77,235	30,676	119,261
Reductions related to lapse of statute of limitations	(49)	(149)	(142)
Gross increases related to acquisitions	3,037	78	8,109
Balance at the end of the year	$ 295,182	$ 217,574	$ 198,540

STOCKHOLDER'S EQUITY - Narrativ

STOCKHOLDER'S EQUITY - Narrative (Details)	12 Months Ended		31 Months Ended	46 Months Ended
	Dec. 31, 2020vote$ / sharesshares	Dec. 31, 2019$ / sharesshares	Dec. 31, 2020$ / sharesshares	Dec. 31, 2020$ / sharesshares	Nov. 13, 2020$ / sharesshares	May 28, 2020$ / sharesshares	Mar. 05, 2020$ / sharesshares	May 25, 2018$ / sharesshares	Mar. 06, 2017$ / sharesshares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000	100,000,000	100,000,000
Preferred stock, par value (in USD per share) \| $ / shares	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Preferred stock, shares outstanding (in shares)	0	0	0	0
Recovery of common stock in connection with indemnification settlement agreement (in shares)	0	20,793
Common Stock Warrant, 2022 Notes
Class of Stock [Line Items]
Outstanding warrants to purchase aggregate shares of capital stock (in shares)									19,200,000
Exercise price of warrants (in USD per share) \| $ / shares									$ 31.18
Number of warrants exercised (in shares)	0		0	0
Shares received upon exercise of convertible notes (in shares)	2,200,000			9,400,000
Common Stock Warrant, 2023 Notes
Class of Stock [Line Items]
Outstanding warrants to purchase aggregate shares of capital stock (in shares)						11,100,000		11,100,000
Exercise price of warrants (in USD per share) \| $ / shares						$ 109.26		$ 109.26
Number of warrants exercised (in shares)	0		0	0
Common Stock Warrant, 2025 Notes
Class of Stock [Line Items]
Outstanding warrants to purchase aggregate shares of capital stock (in shares)							8,260,000
Exercise price of warrants (in USD per share) \| $ / shares							$ 161.34
Common Stock Warrant, 2026 Notes
Class of Stock [Line Items]
Outstanding warrants to purchase aggregate shares of capital stock (in shares)					1,920,000
Exercise price of warrants (in USD per share) \| $ / shares					$ 368.16
Common Stock Warrant, 2027 Notes
Class of Stock [Line Items]
Outstanding warrants to purchase aggregate shares of capital stock (in shares)					1,920,000
Exercise price of warrants (in USD per share) \| $ / shares					$ 414.18
Class A Common Stock
Class of Stock [Line Items]
Number of votes per share \| vote	1
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, par value (in USD per share) \| $ / shares	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Common stock, shares outstanding (in shares)	390,187,079	352,386,562	390,187,079	390,187,079
Class B Common Stock
Class of Stock [Line Items]
Number of votes per share \| vote	10
Common stock, shares authorized (in shares)	500,000,000	500,000,000	500,000,000	500,000,000
Common stock, par value (in USD per share) \| $ / shares	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Common stock, shares outstanding (in shares)	65,997,697	80,410,158	65,997,697	65,997,697
Convertible Debt \| 2022 Notes
Class of Stock [Line Items]
Shares received upon exercise of convertible notes (in shares)	8,900,000		16,100,000

STOCKHOLDER'S EQUITY - Stock Pl

STOCKHOLDER'S EQUITY - Stock Plans, Employee Stock Purchase Plan and Share-Based Compensation Narrative (Details) $ / shares in Units, $ in Thousands	Nov. 02, 2019	Nov. 17, 2015payment_planshares	Dec. 31, 2020USD ($)plan$ / sharesshares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2020USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans \| plan			2
Aggregate intrinsic value for options exercised \| $			$ 1,200,000	$ 616,300	$ 720,100
Weighted average grant-date fair value of options granted (in USD per share) \| $ / shares			$ 27.04	$ 30.58	$ 16.25
Share-based compensation expense \| $			$ 397,500	$ 297,863	$ 216,881
Share-based compensation expense related to capitalized software \| $			13,900	8,200	9,300
Unrecognized compensation cost related to outstanding stock options and restricted stock awards \| $			$ 1,100,000			$ 1,100,000
Unrecognized compensation cost related to outstanding stock options and restricted stock awards, recognition period			2 years 10 months 6 days
Restricted Stock Awards (RSAs) and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term			4 years
Total fair value of shares vested \| $			$ 817,500	552,900	489,300
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense \| $			$ 18,200	$ 18,900	$ 9,000
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future issuance (in shares)			98,430,662			98,430,662
Number of shares reserved (in shares)		30,000,000
Shares reserved for issuance, percent			5.00%
2015 Equity Incentive Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual increase of number of shares reserved (in shares)			40,000,000			40,000,000
2015 Equity Incentive Plan \| Options and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options and RSU outstanding (in shares)			19,905,044			19,905,044
2009 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future issuance (in shares)		0
2009 Stock Option Plan \| Options and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options and RSU outstanding (in shares)			9,348,483			9,348,483
2009 Stock Option Plan \| Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term			4 years
Expiration period			10 years
2009 Stock Option Plan \| Options \| Vesting Year One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term			1 year
Annual vesting rate			25.00%
2015 Employee Stock Purchase Plan \| Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future issuance (in shares)			17,816,248			17,816,248
Shares reserved for issuance, percent		1.00%
Discount through payroll deductions as a percentage of eligible compensation	25.00%	15.00%
Offering period		12 months
Number of purchase periods \| payment_plan		2
Purchase price of common stock as a percentage of fair market value		85.00%
Shares purchased under the plan (in shares)						5,829,106
2015 Employee Stock Purchase Plan \| Employee Stock Purchase Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual increase of number of shares reserved (in shares)		8,400,000

STOCKHOLDER'S EQUITY - Summary

STOCKHOLDER'S EQUITY - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Number of Stock Options Outstanding
Beginning balance (in shares)	23,619,804
Granted (in shares)	1,538,109
Exercised (in shares)	(11,017,713)
Forfeited and canceled (in shares)	(509,318)
Ending balance (in shares)	13,630,882	23,619,804
Weighted Average Exercise Price
Beginning balance (in USD per share)	$ 12.66
Granted (in USD per share)	59.46
Exercised (in USD per share)	10.54
Forfeited and canceled (in USD per share)	60.65
Ending balance (in USD per share)	$ 17.84	$ 12.66
Additional Disclosures
Weighted Average Remaining Contractual Term (in years)	3 years 10 months 2 days	4 years 10 months 20 days
Aggregate Intrinsic Value	$ 2,723,394	$ 1,191,746
Options exercisable, number of stock options outstanding (in shares)	12,034,630
Options exercisable, weighted average exercise price (in USD per share)	$ 12.11
Options exercisable, weighted average remaining contractual term (in years)	3 years 2 months 4 days
Options exercisable, aggregate intrinsic value	$ 2,473,439

STOCKHOLDER'S EQUITY - Restrict

STOCKHOLDER'S EQUITY - Restricted Stock Awards and Restricted Stock Units Activity (Details) - Restricted Stock Awards (RSAs) and Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term	4 years
Number of shares
Beginning balance (in shares) \| shares	13,917,461
Granted (in shares) \| shares	10,727,210
Vested (in shares) \| shares	(7,402,353)
Forfeited (in shares) \| shares	(1,619,673)
Ending balance (in shares) \| shares	15,622,645
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share) \| $ / shares	$ 49.90
Granted (in USD per share) \| $ / shares	78.29
Vested (in USD per share) \| $ / shares	43.31
Forfeited (in USD per share) \| $ / shares	58.12
Ending balance (in USD per share) \| $ / shares	$ 71.71

STOCKHOLDER'S EQUITY - Stock Op

STOCKHOLDER'S EQUITY - Stock Options Fair Value Assumptions (Details) - Options	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate	0.41%	2.37%	2.92%
Expected volatility	48.29%	40.48%	30.87%
Expected term (years)	6 years 7 days	6 years 7 days	6 years 2 months 8 days

STOCKHOLDER'S EQUITY - Effects

STOCKHOLDER'S EQUITY - Effects of Share-Based Compensation on Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 397,500	$ 297,863	$ 216,881
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	368	155	97
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	289,553	210,840	144,601
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	36,627	26,720	22,797
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 70,952	$ 60,148	$ 49,386

NET INCOME (LOSS) PER SHARE - C

NET INCOME (LOSS) PER SHARE - Calculation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net income (loss)	$ 213,105	$ 375,446	$ (38,453)
Basic shares:
Weighted-average common shares outstanding (in shares)	443,773	425,728	406,313
Weighted-average unvested shares (in shares)	(647)	(729)	(582)
Weighted-average shares used to compute basic net income (loss) per share (in shares)	443,126	424,999	405,731
Diluted shares:
Stock options and restricted stock units (in shares)	23,378	30,602	0
Common stock warrants (in shares)	15,413	10,432	0
Employee stock purchase plan (in shares)	250	43	0
Weighted-average shares used to compute diluted net loss per share (in shares)	482,167	466,076	405,731
Net income (loss) per share:
Basic (in USD per share)	$ 0.48	$ 0.88	$ (0.09)
Diluted (in USD per share)	$ 0.44	$ 0.81	$ (0.09)

NET INCOME (LOSS) PER SHARE - A

NET INCOME (LOSS) PER SHARE - Antidilutive Securities Excluded from Computation of Diluted Net Income (Loss) Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	59,722	54,885	110,929
Stock options and restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	11,309	13,867	60,589
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	22,140	19,820	25,798
Convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	25,073	20,305	23,820
Unvested shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	647	728	582
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	553	165	140

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jul. 31, 2019
Related Party Transaction [Line Items]
Total lease payments over term	$ 566,328
Operating lease right-of-use assets	456,888	$ 113,148
Operating lease liabilities	442,409
Affiliated Entity \| Operating Lease Agreement
Related Party Transaction [Line Items]
Operating lease term			15 years 6 months
Total lease payments over term			$ 42,700
Operating lease right-of-use assets	21,600
Operating lease liabilities	$ 32,800

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Operating and Finance Leases Narrative (Details)	1 Months Ended	12 Months Ended
	Jul. 31, 2019USD ($)ft²renewal_option	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Lessee, Lease, Description [Line Items]
Total lease payments over term		$ 566,328,000
Finance lease obligation		0
Total rental expenses for operating leases		$ 75,200,000	$ 32,500,000
Total rental expenses for operating leases				$ 23,300,000
Operating Lease Agreement \| Affiliated Entity
Lessee, Lease, Description [Line Items]
Operating lease term	15 years 6 months
Operating lease renewal term	5 years
Leased area of office space (in sq ft) \| ft²	226,185
Operating lease, number of renewal options \| renewal_option	2
Total lease payments over term	$ 42,700,000
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, option to terminate leased space (up to)	0.50
Building
Lessee, Lease, Description [Line Items]
Operating lease renewal term		5 years
Operating lease option to terminate term		1 year
Building \| Minimum
Lessee, Lease, Description [Line Items]
Operating lease term		1 year
Building \| Maximum
Lessee, Lease, Description [Line Items]
Operating lease term		12 years

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Lease Expense Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Fixed operating lease costs	$ 70,254	$ 29,422
Variable operating lease costs	15,625	5,737
Short term lease costs	6,375	2,512
Sublease income	(8,594)	(3,381)
Finance lease costs
Amortization of finance right-of-use assets	2,446	5,029
Total lease costs	$ 86,106	$ 39,319

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Other Information Related to Leases (Details)	Dec. 31, 2020
Weighted Average Remaining Lease Term:
Operating leases	8 years 7 months 6 days
Weighted Average Discount Rate:
Operating leases	4.00%

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Cash Flows Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Payments for operating lease liabilities	$ (46,901)	$ (33,340)
Cash flows from financing activities:
Principal payments on finance lease obligation	(2,446)	(5,029)
Supplemental Cash Flow Data:
Right-of-use assets obtained in exchange for operating lease obligations	$ 342,662	$ 40,555

COMMITMENTS AND CONTINGENCIES_5

COMMITMENTS AND CONTINGENCIES - Future Minimum Lease Payments Under Non-Cancelable Operating Leases (Details) $ in Thousands	Dec. 31, 2020USD ($)
Operating
2021	$ 70,774
2022	78,724
2023	72,478
2024	54,095
2025	49,430
Thereafter	240,827
Total	566,328
Less: amount representing interest	82,811
Less: leases executed but not yet commenced	21,914
Less: lease incentives and transfer to held for sale	19,194
Total	$ 442,409

COMMITMENTS AND CONTINGENCIES_6

COMMITMENTS AND CONTINGENCIES - Litigation Narrative (Details) $ in Millions	Jun. 15, 2020USD ($)
TEXAS
Income Tax Examination [Line Items]
Estimate of possible liability for additional taxes, interest and penalties	$ 38

SEGMENT AND GEOGRAPHICAL INFO_3

SEGMENT AND GEOGRAPHICAL INFORMATION - Narrative (Details)	6 Months Ended
	Dec. 31, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	2

SEGMENT AND GEOGRAPHICAL INFO_4

SEGMENT AND GEOGRAPHICAL INFORMATION - Segment Reporting Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenue	$ 9,497,578	$ 4,713,500	$ 3,298,177
Gross profit	2,733,409	1,889,685	1,303,700
Operating Segments
Segment Reporting Information [Line Items]
Revenue	9,497,578	4,567,587	3,149,569
Gross profit	2,733,409	1,848,095	1,267,331
Cash App \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	5,968,386	1,105,599	430,051
Gross profit	1,225,578	457,668	194,835
Seller \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	3,529,192	3,461,988	2,719,518
Gross profit	1,507,831	1,390,427	1,072,496
Transaction-based revenue
Segment Reporting Information [Line Items]
Revenue	3,294,978	3,081,074	2,471,451
Transaction-based revenue \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	3,294,978	3,081,074	2,471,451
Transaction-based revenue \| Cash App \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	233,747	72,865	42,715
Transaction-based revenue \| Seller \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	3,061,231	3,008,209	2,428,736
Subscription and services-based revenue
Segment Reporting Information [Line Items]
Revenue	1,447,188	883,922	499,010
Revenue	1,539,403	1,031,456	591,706
Subscription and services-based revenue \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	1,539,403	885,543	443,098
Subscription and services-based revenue \| Cash App \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	1,163,096	516,269	220,819
Subscription and services-based revenue \| Seller \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	376,307	369,274	222,279
Hardware revenue
Segment Reporting Information [Line Items]
Revenue	91,654	84,505	68,503
Hardware revenue \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	91,654	84,505	68,503
Hardware revenue \| Cash App \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	0	0	0
Hardware revenue \| Seller \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	91,654	84,505	68,503
Bitcoin revenue
Segment Reporting Information [Line Items]
Revenue	4,571,543	516,465	166,517
Bitcoin revenue \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	4,571,543	516,465	166,517
Bitcoin revenue \| Cash App \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	4,571,543	516,465	166,517
Bitcoin revenue \| Seller \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0	$ 0

SEGMENT AND GEOGRAPHICAL INFO_5

SEGMENT AND GEOGRAPHICAL INFORMATION - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 9,497,578	$ 4,713,500	$ 3,298,177
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	9,497,578	4,567,587	3,149,569
Segment Reconciling Items
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 0	$ 145,913	$ 148,608

SEGMENT AND GEOGRAPHICAL INFO_6

SEGMENT AND GEOGRAPHICAL INFORMATION - Reconciliation of Total Segment Profit to Income before applicable Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	$ 2,733,409	$ 1,889,685	$ 1,303,700
Less: Product development	881,826	670,606	497,479
Less: Sales and marketing	1,109,670	624,832	411,151
Less: General and administrative	579,203	436,250	339,245
Less: Transaction and loan losses	177,670	126,959	88,077
Less: Gain on sale of asset group	0	(373,445)	0
Less: Interest expense, net	56,943	21,516	17,982
Other expense (income), net	(291,725)	273	(18,469)
Income (loss) before income tax	215,967	378,213	(36,127)
Acquired customers assets
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Less: Amortization of acquired customer assets	3,855	4,481	4,362
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	2,733,409	1,848,095	1,267,331
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	$ 0	$ 41,590	$ 36,369

SEGMENT AND GEOGRAPHICAL INFO_7

SEGMENT AND GEOGRAPHICAL INFORMATION - Revenue by Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 9,497,578	$ 4,713,500	$ 3,298,177
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	9,186,440	4,472,473	3,138,859
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 311,138	$ 241,027	$ 159,318

SEGMENT AND GEOGRAPHICAL INFO_8

SEGMENT AND GEOGRAPHICAL INFORMATION - Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 1,144,721	$ 597,766
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	1,086,379	586,702
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 58,342	$ 11,064

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Data:
Cash paid for interest	$ 3,857	$ 5,677	$ 4,125
Cash paid for income taxes	6,001	2,744	1,622
Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease obligations	342,662	40,555
Change in purchases of property and equipment in accounts payable and accrued expenses	(3,975)	(419)	15,067
Unpaid business combination purchase price	8,974	8,411	3,995
Non-cash proceeds from sale of asset group	0	100,000	0
Fair value of common stock issued related to business combination	(35,318)	0	(140,107)
Recovery of common stock in connection with indemnification settlement agreement	0	789	2,745
Fair value of common stock issued to settle the conversion of senior notes, due 2022	(1,398,829)	0	(571,408)
Fair value of shares received to settle senior note hedges, due 2022	$ 369,015	$ 0	$ 544,276

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 23, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 28, 2021	May 28, 2020
Subsequent Event [Line Items]
Paycheck protection program liquidity facility advances outstanding		$ 464,094	$ 0
Payments to acquire intangible assets		0	$ 0	$ 1,584
Paycheck Protection Program Liquidity Facility \| Line of Credit
Subsequent Event [Line Items]
Maximum borrowing capacity						$ 500,000
Paycheck protection program liquidity facility advances outstanding		$ 464,100
Subsequent Event \| Bitcoin
Subsequent Event [Line Items]
Payments to acquire intangible assets	$ 170,000
Subsequent Event \| Paycheck Protection Program Liquidity Facility \| Line of Credit
Subsequent Event [Line Items]
Maximum borrowing capacity					$ 1,000,000
Paycheck protection program liquidity facility advances outstanding	$ 376,300

Uncategorized Items - sq-202012

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201409Member