Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2020	Oct. 30, 2020
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001512673
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		383,805,972
Class B
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		67,130,828

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 2,118,808	$ 1,047,118
Investments in short-term debt securities	762,434	492,456
Settlements receivable	846,786	588,692
Customer funds	1,850,963	676,292
Loans held for sale	524,173	164,834
Other current assets	388,106	250,409
Total current assets	6,491,270	3,219,801
Property and equipment, net	195,937	149,194
Goodwill	300,620	266,345
Acquired intangible assets, net	107,562	69,079
Investments in long-term debt securities	399,122	537,303
Operating lease right-of-use assets	450,183	113,148
Other non-current assets	169,582	196,388
Total assets	8,114,276	4,551,258
Current liabilities:
Customers payable	2,723,083	1,273,135
Settlements payable	150,705	95,834
Accrued expenses and other current liabilities	427,386	297,841
Operating lease liabilities, current	51,041	27,275
PPP Liquidity Facility advances	473,496	0
Total current liabilities	3,825,711	1,694,085
Long-term debt	1,758,611	938,832
Operating lease liabilities, non-current	384,983	108,830
Other non-current liabilities	82,136	94,461
Total liabilities	6,051,441	2,836,208
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred stock, $0.0000001 par value: 100,000,000 shares authorized at September 30, 2020 and December 31, 2019. None issued and outstanding at September 30, 2020 and December 31, 2019.	0	0
Additional paid-in capital	2,642,107	2,223,749
Accumulated other comprehensive income	11,910	1,629
Accumulated deficit	(591,182)	(510,328)
Total stockholders’ equity	2,062,835	1,715,050
Total liabilities and stockholders’ equity	8,114,276	4,551,258
Class A
Stockholders’ equity:
Common stock	0	0
Class B
Stockholders’ equity:
Common stock	$ 0	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, par value (in USD per share)	$ 0.0000001	$ 0.0000001
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
Class of Stock [Line Items]
Common stock, par value (in USD per share)	$ 0.0000001	$ 0.0000001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	380,355,619	352,386,562
Common stock, shares outstanding (in shares)	380,355,619	352,386,562
Class B
Class of Stock [Line Items]
Common stock, par value (in USD per share)	$ 0.0000001	$ 0.0000001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	67,339,578	80,410,158
Common stock, shares outstanding (in shares)	67,339,578	80,410,158

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue:
Revenue	$ 3,033,874	$ 1,266,474	$ 6,338,608	$ 3,400,071
Cost of revenue:
Total cost of revenue	2,239,419	766,437	4,408,889	2,037,435
Gross profit	794,455	500,037	1,929,719	1,362,636
Operating expenses:
Product development	226,567	168,771	628,378	497,322
Sales and marketing	348,463	149,467	781,094	439,601
General and administrative	153,902	115,980	419,783	318,086
Transaction and loan losses	15,198	32,722	161,684	94,827
Amortization of acquired customer assets	5,236	3,841	13,522	11,286
Total operating expenses	745,113	467,943	1,993,717	1,353,427
Operating income (loss)	49,342	32,094	(63,998)	9,209
Interest expense, net	14,980	5,632	38,955	15,456
Other expense (income), net	(784)	(5,541)	(20,513)	6,988
Income (loss) before income tax	35,146	32,003	(82,440)	(13,235)
Provision (benefit) for income taxes	(1,369)	2,606	(1,586)	2,259
Net income (loss)	$ 36,515	$ 29,397	$ (80,854)	$ (15,494)
Net income (loss) per share:
Basic (in USD per share)	$ 0.08	$ 0.07	$ (0.18)	$ (0.04)
Diluted (in USD per share)	$ 0.07	$ 0.06	$ (0.18)	$ (0.04)
Weighted-average shares used to compute net income (loss) per share
Basic (in shares)	444,458	427,124	439,855	423,239
Diluted (in shares)	488,069	466,099	439,855	423,239
Technology assets
Cost of revenue:
Amortization of acquired technology	$ 3,118	$ 1,934	$ 7,669	$ 5,029
Customer assets
Operating expenses:
Amortization of acquired customer assets	983	1,003	2,778	3,591
Transaction-based revenue
Revenue:
Revenue	925,294	816,622	2,365,967	2,248,894
Cost of revenue:
Cost of revenue	522,680	519,312	1,376,565	1,418,730
Subscription and services-based revenue
Revenue:
Revenue	432,394	239,895	1,017,040	645,588
Revenue	447,522	279,801	1,090,032	750,041
Cost of revenue:
Cost of revenue	66,786	63,352	157,666	183,994
Hardware revenue
Revenue:
Revenue	27,294	21,766	67,291	62,238
Cost of revenue:
Cost of revenue	45,220	35,672	107,907	95,881
Bitcoin revenue
Revenue:
Revenue	1,633,764	148,285	2,815,318	338,898
Cost of revenue:
Cost of revenue	$ 1,601,615	$ 146,167	$ 2,759,082	$ 333,801

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 36,515	$ 29,397	$ (80,854)	$ (15,494)
Net foreign currency translation adjustments	9,111	(2,812)	7,090	(2,285)
Net unrealized gain on revaluation of intercompany loans	0	0	0	75
Net unrealized gain (loss) on marketable debt securities	(1,567)	1,351	3,191	5,876
Total comprehensive income (loss)	$ 44,059	$ 27,936	$ (70,573)	$ (11,828)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net loss	$ (80,854)	$ (15,494)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	61,741	56,879
Non-cash interest and other	52,384	24,697
Loss on extinguishment of long-term debt	2,393	0
Share-based compensation	284,129	217,980
Loss (gain) on revaluation of equity investment	(20,999)	16,467
Non-cash lease expense	50,782	21,950
Transaction and loan losses	161,684	94,827
Change in deferred income taxes	(3,375)	(1,054)
Changes in operating assets and liabilities:
Settlements receivable	(284,649)	(215,594)
Customer funds	(885,259)	(202,718)
Purchase of loans held for sale	(1,620,057)	(1,596,394)
Sales and principal payments of loans held for sale	1,226,994	1,547,158
Customers payable	1,445,608	519,123
Settlements payable	54,871	27,460
Charge-offs to accrued transaction losses	(55,361)	(56,486)
Other assets and liabilities	(129,155)	(34,218)
Net cash provided by operating activities	260,877	404,583
Cash flows from investing activities:
Purchase of marketable debt securities	(966,278)	(758,969)
Proceeds from maturities of marketable debt securities	404,931	325,682
Proceeds from sale of marketable debt securities	432,162	327,247
Purchase of marketable debt securities from customer funds	(552,411)	(237,640)
Proceeds from maturities of marketable debt securities from customer funds	237,000	115,200
Proceeds from sale of marketable debt securities from customer funds	28,457	0
Purchase of property and equipment	(86,353)	(45,826)
Payments for other investments	0	(2,000)
Business combinations, net of cash acquired	(29,221)	(20,372)
Net cash used in investing activities	(531,713)	(296,678)
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes, net	986,241	0
Purchase of convertible senior note hedges	(149,200)	0
Proceeds from issuance of warrants	99,500	0
Proceeds from PPP Liquidity Facility advances	473,496	0
Payments for tax withholding related to vesting of restricted stock units	(182,607)	(164,044)
Proceeds from the exercise of stock options and purchases under the employee stock purchase plan, net	106,600	81,781
Other financing activities	(2,606)	(3,946)
Net cash provided by (used in) financing activities	1,331,424	(86,209)
Effect of foreign exchange rate on cash and cash equivalents	772	(673)
Net increase in cash, cash equivalents, and restricted cash	1,061,360	21,023
Cash, cash equivalents, and restricted cash, beginning of period	1,098,706	632,847
Cash, cash equivalents, and restricted cash, end of period	$ 2,160,066	$ 653,870

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Class A and B common stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Accumulated deficit
Beginning balance (in shares) at Dec. 31, 2018		417,048,006
Beginning balance at Dec. 31, 2018	$ 1,120,501	$ 0	$ 2,012,328	$ (6,053)	$ (885,774)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(38,151)				(38,151)
Shares issued in connection with employee stock plans (in shares)		5,582,633
Shares issued in connection with employee stock plans	25,364		25,364
Change in other comprehensive loss	2,629			2,629
Share-based compensation	62,835		62,835
Tax withholding related to vesting of restricted stock units (in shares)		(741,324)
Tax withholding related to vesting of restricted stock units	(50,801)		(50,801)
Issuance of common stock in conjunction with the conversion of senior notes, due 2022 (in shares)		43
Issuance of common stock in conjunction with the conversion of senior notes, due 2022	1		1
Exercise of bond hedges in conjunction with the conversion of senior notes, due 2022 (in shares)		(250,614)
Recovery of common stock in connection with indemnification settlement agreement (in shares)		(14,798)
Recovery of common stock in connection with indemnification settlement agreement	(789)		(789)
Ending balance (in shares) at Mar. 31, 2019		421,623,946
Ending balance at Mar. 31, 2019	1,121,589	$ 0	2,048,938	(3,424)	(923,925)
Beginning balance (in shares) at Dec. 31, 2018		417,048,006
Beginning balance at Dec. 31, 2018	1,120,501	$ 0	2,012,328	(6,053)	(885,774)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(15,494)
Ending balance (in shares) at Sep. 30, 2019		429,073,808
Ending balance at Sep. 30, 2019	1,249,794	$ 0	2,153,449	(2,387)	(901,268)
Beginning balance (in shares) at Mar. 31, 2019		421,623,946
Beginning balance at Mar. 31, 2019	1,121,589	$ 0	2,048,938	(3,424)	(923,925)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(6,740)				(6,740)
Shares issued in connection with employee stock plans (in shares)		5,371,051
Shares issued in connection with employee stock plans	41,593		41,593
Change in other comprehensive loss	2,498			2,498
Share-based compensation	81,392		81,392
Tax withholding related to vesting of restricted stock units (in shares)		(777,006)
Tax withholding related to vesting of restricted stock units	(55,862)		(55,862)
Issuance of common stock in conjunction with the conversion of senior notes, due 2022 (in shares)		86
Issuance of common stock in conjunction with the conversion of senior notes, due 2022	2		2
Exercise of bond hedges in conjunction with the conversion of senior notes, due 2022 (in shares)		(84)
Ending balance (in shares) at Jun. 30, 2019		426,217,993
Ending balance at Jun. 30, 2019	1,184,472	$ 0	2,116,063	(926)	(930,665)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	29,397				29,397
Shares issued in connection with employee stock plans (in shares)		3,657,559
Shares issued in connection with employee stock plans	14,860		14,860
Change in other comprehensive loss	(1,461)			(1,461)
Share-based compensation	79,907		79,907
Tax withholding related to vesting of restricted stock units (in shares)		(801,744)
Tax withholding related to vesting of restricted stock units	(57,381)		(57,381)
Ending balance (in shares) at Sep. 30, 2019		429,073,808
Ending balance at Sep. 30, 2019	1,249,794	$ 0	2,153,449	(2,387)	(901,268)
Beginning balance (in shares) at Dec. 31, 2019		432,796,720
Beginning balance at Dec. 31, 2019	1,715,050	$ 0	2,223,749	1,629	(510,328)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(105,891)				(105,891)
Shares issued in connection with employee stock plans (in shares)		5,222,525
Shares issued in connection with employee stock plans	31,406		31,406
Issuance of common stock in connection with business combination (in shares)		357,017
Issuance of common stock in connection with business combination	14,999		14,999
Change in other comprehensive loss	(5,061)			(5,061)
Share-based compensation	79,562		79,562
Tax withholding related to vesting of restricted stock units (in shares)		(722,606)
Tax withholding related to vesting of restricted stock units	(48,772)		(48,772)
Conversion feature of convertible senior notes, due 2025, net of allocated costs	152,258		152,258
Purchase of bond hedges in conjunction with issuance of convertible senior notes, due 2025	(149,200)		(149,200)
Sale of warrants in conjunction with issuance of convertible senior notes, due 2025	99,500		99,500
Issuance of common stock in conjunction with the conversion of senior notes, due 2022 (in shares)		1,109,980
Issuance of common stock in conjunction with the conversion of senior notes, due 2022	24,094		24,094
Ending balance (in shares) at Mar. 31, 2020		438,763,636
Ending balance at Mar. 31, 2020	1,807,945	$ 0	2,427,596	(3,432)	(616,219)
Beginning balance (in shares) at Dec. 31, 2019		432,796,720
Beginning balance at Dec. 31, 2019	1,715,050	$ 0	2,223,749	1,629	(510,328)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(80,854)
Ending balance (in shares) at Sep. 30, 2020		447,695,197
Ending balance at Sep. 30, 2020	2,062,835	$ 0	2,642,107	11,910	(591,182)
Beginning balance (in shares) at Mar. 31, 2020		438,763,636
Beginning balance at Mar. 31, 2020	1,807,945	$ 0	2,427,596	(3,432)	(616,219)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(11,478)				(11,478)
Shares issued in connection with employee stock plans (in shares)		4,802,969
Shares issued in connection with employee stock plans	46,679		46,679
Issuance of common stock in connection with business combination (in shares)		250,957
Issuance of common stock in connection with business combination	20,320		20,320
Change in other comprehensive loss	7,798			7,798
Share-based compensation	99,925		99,925
Tax withholding related to vesting of restricted stock units (in shares)		(703,895)
Tax withholding related to vesting of restricted stock units	(44,882)		(44,882)
Exercise of bond hedges in conjunction with the conversion of senior notes, due 2022 (in shares)		(724,316)
Ending balance (in shares) at Jun. 30, 2020		442,389,351
Ending balance at Jun. 30, 2020	1,926,307	$ 0	2,549,638	4,366	(627,697)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	36,515				36,515
Shares issued in connection with employee stock plans (in shares)		4,246,489
Shares issued in connection with employee stock plans	28,514		28,514
Change in other comprehensive loss	7,544			7,544
Share-based compensation	114,172		114,172
Tax withholding related to vesting of restricted stock units (in shares)		(694,266)
Tax withholding related to vesting of restricted stock units	(88,953)		(88,953)
Issuance of common stock in conjunction with the conversion of senior notes, due 2022 (in shares)		1,753,623
Issuance of common stock in conjunction with the conversion of senior notes, due 2022	38,736		38,736
Ending balance (in shares) at Sep. 30, 2020		447,695,197
Ending balance at Sep. 30, 2020	$ 2,062,835	$ 0	$ 2,642,107	$ 11,910	$ (591,182)

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 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. Square was founded in 2009 and is headquartered in San Francisco, with offices in the United States, Canada, Japan, Australia, Ireland, and the United Kingdom. Basis of Presentation The accompanying interim condensed consolidated financial statements of the Company are unaudited. These interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and the applicable rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The December 31, 2019 condensed consolidated balance sheet was derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to state fairly the Company's consolidated financial position, results of operations, comprehensive income (loss), and cash flows for the interim periods. All intercompany transactions and balances have been eliminated in consolidation. The interim results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, or for any other future annual or interim period. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and related notes in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. 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. Generally, the Company's estimates and assumptions consider current and past experience, to the extent that historical experience is predictive of future performance. Estimates, judgments, and assumptions in these consolidated financial statements include, but are not limited to, those related to revenue recognition, accrued transaction losses, credit loss allowances from marketable debt securities, 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, 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 outbreak 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 outbreak, 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 recessionary economic conditions and uncertainty in developing such estimates and assumptions. See Note 10, 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. The Company's realized transaction losses for the first and second quarters of 2020 have been better than the estimated losses which has led to releases of prior period reserves in the third quarter of 2020. 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 general, all of which are uncertain and cannot be predicted. Concentration of Credit Risk For the three and nine months ended September 30, 2020 and September 30, 2019, 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 52% and 36% of settlements receivable as of September 30, 2020. As of December 31, 2019, the Company had 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 receivables, 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 or two business days to settle which mitigates the associated risk of concentration. The associated risk of concentration for loans held for sale is partially mitigated by credit evaluations that are performed prior to facilitating the offering of loans and ongoing performance monitoring of the Company’s loan customers. The risk associated with the PPP loans is considered low due to government guarantees on those loans. Recent Accounting Pronouncements Recently adopted accounting pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments - Credit Losses, which requires the measurement and recognition of expected credit losses for financial assets held. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available for sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company adopted this guidance effective January 1, 2020 and has applied the guidance prospectively. The Company has concluded that the adoption of the guidance did not have a material impact on the balances reported in its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment. The new guidance eliminated the requirement to calculate the implied fair value of goodwill assuming a hypothetical purchase price allocation (i.e., Step 2 of the goodwill impairment test) to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value, not to exceed the carrying amount of goodwill. This standard should be adopted when the Company performs its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019, with early adoption permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The amendments should be applied on a prospective basis. The Company adopted this guidance effective January 1, 2020 and will apply the guidance during its annual goodwill impairment test for the year ending December 31, 2020. As of June 30, 2020, the Company applied the guidance during its change from one to two reportable segments to more accurately reflect the manner in which its CODM reviews and assesses performance. The goodwill impairment test was performed immediately before and after the reorganization and goodwill was reassigned to the two reportable segments. The adoption of this guidance did not have a material impact on the consolidated financial statements and related disclosures. In July 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement, which removed, modified, and added disclosure requirements for fair value measurements to improve the overall usefulness of such disclosures. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted for any removed or modified disclosure requirements. Transition is on a prospective basis for the new and modified disclosures, and on a retrospective basis for disclosures that have been eliminated. The Company adopted this guidance effective January 1, 2020 and has applied the guidance prospectively, and included additional disclosures required by the new guidance relating to significant unobservable inputs used to develop Level 3 fair value measurements. In August 2018, the FASB issued ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which is intended to align the requirements for capitalization of implementation costs incurred in a cloud computing arrangement that is a service contract with the existing guidance for internal-use software. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. The guidance provides flexibility in adoption, allowing for either retrospective adjustment or prospective adjustment for all implementation costs incurred after the date of adoption. The Company adopted this guidance effective January 1, 2020 and has applied the guidance prospectively. The adoption of this guidance did not have a material impact on the consolidated financial statements and related disclosures. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments — Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. The amendments clarify the scope of the credit losses standard and hedge accounting among other things. The Company adopted ASC 326 on January 1, 2020 for credit losses. With respect to hedge accounting, the amendments address partial-term fair value hedges and fair value hedge basis adjustments, among other things. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted as long an entity has also adopted the amendments in ASU No. 2016-13. The adoption of this guidance did not have a material impact on the consolidated financial statements and related disclosures. Entities that have already adopted ASU No. 2017-12 are permitted to elect either retrospectively or prospectively adopt the amendments. The Company had previously adopted ASU No. 2017-12 on January 1, 2019 and therefore is eligible to and has prospectively adopted the amendments. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes: Simplifying the Accounting for Income Taxes, 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 things, the new guidance simplifies intraperiod tax allocation and reduces the complexity in accounting for income taxes with year-to-date losses in interim periods. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years, with early adoption permitted. The Company early adopted this guidance effective January 1, 2020 and has applied the guidance prospectively. The adoption did not have a material impact on the consolidated financial statements and related disclosures. Recently issued accounting pronouncements not yet adopted In August 2020, the FASB issued 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 the separation models for convertible debt with cash conversion features. 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 expects to early adopt the new guidance on January 1, 2021 using the modified retrospective approach with the cumulative effect of adoption recognized at the date of initial application through an adjustment to the opening balance of retained earnings. The Company expects the adoption of this guidance will result in a material reclassification from equity to debt, as well as a reduction in interest expense.

REVENUE

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

REVENUE

The following table presents the Company's revenue disaggregated by revenue source (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Revenue from Contracts with Customers:
Transaction-based revenue	$	925,294	$	816,622	$	2,365,967	$	2,248,894
Subscription and services-based revenue	432,394		239,895		1,017,040		645,588
Hardware revenue	27,294		21,766		67,291		62,238
Bitcoin revenue	1,633,764		148,285		2,815,318		338,898
Revenue from other sources:
Subscription and services-based revenue	$	15,128	$	39,906	$	72,992	$	104,453

The deferred revenue balances were as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Deferred revenue, beginning of the period	$	51,549	$	44,812	$	44,331	$	36,451
Deferred revenue, end of the period	53,166		45,263		53,166		45,263
Deferred revenue arising from business combination	800		—		800		—
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$	17,560	$	12,656	$	33,885	$	28,280

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

INVESTMENTS IN DEBT SECURITIES

9 Months Ended

Sep. 30, 2020

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS IN DEBT SECURITIES

The Company's short-term and long-term investments as of September 30, 2020 are as follows (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term debt securities:
U.S. agency securities	$	184,330	$	931	$	(490)	$	184,771

Corporate bonds	87,137		296		(208)		87,225
Commercial paper	4,999		—		—		4,999
Municipal securities	9,965		67		(35)		9,997
U.S. government securities	410,310		1,921		(571)		411,660
Foreign government securities	63,462		387		(67)		63,782
Total	$	760,203	$	3,602	$	(1,371)	$	762,434

Long-term debt securities:
U.S. agency securities	$	154,059	$	758	$	(575)	$	154,242

Corporate bonds	148,437		1,158		(319)		149,276
Municipal securities	2,870		40		(91)		2,819
U.S. government securities	81,928		758		(897)		81,789
Foreign government securities	10,923		157		(84)		10,996
Total	$	398,217	$	2,871	$	(1,966)	$	399,122

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 September 30, 2020 and December 31, 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):


	September 30, 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	$	58,213	$	(490)	$	—	$	—	$	58,213	$	(490)
Corporate bonds	26,072		(208)		—		—		26,072		(208)
Municipal securities	4,118		(35)		—		—		4,118		(35)
U.S. government securities	17,399		(571)		—		—		17,399		(571)
Foreign government securities	25,285		(67)		—		—		25,285		(67)
Total	$	131,087	$	(1,371)	$	—	$	—	$	131,087	$	(1,371)

Long-term debt securities:
U.S. agency securities	$	15,642	$	(575)	$	—	$	—	$	15,642	$	(575)

Corporate bonds	51,021		(319)		—		—		51,021		(319)
Municipal securities	577		(91)		—		—		577		(91)
U.S. government securities	—		(897)		—		—		—		(897)
Foreign government securities	347		(84)		—		—		347		(84)
Total	$	67,587	$	(1,966)	$	—	$	—	$	67,587	$	(1,966)


	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 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, net.

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 September 30, 2020 are as follows (in thousands):


	Amortized Cost		Fair Value
Due in one year or less	$	760,203	$	762,434
Due in one to five years	398,217		399,122
Total	$	1,158,420	$	1,161,556

CUSTOMER FUNDS

The following table presents the assets underlying customer funds (in thousands):


	September 30, 2020		December 31, 2019
Cash	$	146,422	$	422,459
Cash Equivalents:
Money market funds	1,024,277		233
Reverse repurchase agreement (i)	75,038		—
U.S. agency securities	—		8,585
U.S. government securities	79,293		6,984
Short-term debt securities:
U.S. agency securities	106,855		—
U.S. government securities	419,078		238,031
Total	$	1,850,963	$	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.

The Company's investments within customer funds as of September 30, 2020 are as follows (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term debt securities:
U.S. agency securities	$	106,799	$	56	$	—	$	106,855
U.S. government securities	419,073		150		(145)		419,078
Total	$	525,872	$	206	$	(145)	$	525,933

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 September 30, 2020 and December 31, 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):


	September 30, 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	65,567		(145)		—		—		65,567		(145)
Total	$	65,567	$	(145)	$	—	$	—	$	65,567	$	(145)


	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 unrealized losses above were caused by interest rate changes. The U.S. government securities are either explicitly or implicitly guaranteed by the U.S. government and are highly rated by major rating agencies. 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, net.

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 September 30, 2020 are as follows (in thousands):


	Amortized Cost		Fair Value
Due in one year or less	$	525,872	$	525,933
Due in one to five years	—		—
Total	$	525,872	$	525,933

CUSTOMER FUNDS

9 Months Ended

Sep. 30, 2020

Investments, Debt and Equity Securities [Abstract]

CUSTOMER FUNDS

INVESTMENTS IN DEBT SECURITIES

The Company's short-term and long-term investments as of September 30, 2020 are as follows (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term debt securities:
U.S. agency securities	$	184,330	$	931	$	(490)	$	184,771

Corporate bonds	87,137		296		(208)		87,225
Commercial paper	4,999		—		—		4,999
Municipal securities	9,965		67		(35)		9,997
U.S. government securities	410,310		1,921		(571)		411,660
Foreign government securities	63,462		387		(67)		63,782
Total	$	760,203	$	3,602	$	(1,371)	$	762,434

Long-term debt securities:
U.S. agency securities	$	154,059	$	758	$	(575)	$	154,242

Corporate bonds	148,437		1,158		(319)		149,276
Municipal securities	2,870		40		(91)		2,819
U.S. government securities	81,928		758		(897)		81,789
Foreign government securities	10,923		157		(84)		10,996
Total	$	398,217	$	2,871	$	(1,966)	$	399,122

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 September 30, 2020 and December 31, 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):


	September 30, 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	$	58,213	$	(490)	$	—	$	—	$	58,213	$	(490)
Corporate bonds	26,072		(208)		—		—		26,072		(208)
Municipal securities	4,118		(35)		—		—		4,118		(35)
U.S. government securities	17,399		(571)		—		—		17,399		(571)
Foreign government securities	25,285		(67)		—		—		25,285		(67)
Total	$	131,087	$	(1,371)	$	—	$	—	$	131,087	$	(1,371)

Long-term debt securities:
U.S. agency securities	$	15,642	$	(575)	$	—	$	—	$	15,642	$	(575)

Corporate bonds	51,021		(319)		—		—		51,021		(319)
Municipal securities	577		(91)		—		—		577		(91)
U.S. government securities	—		(897)		—		—		—		(897)
Foreign government securities	347		(84)		—		—		347		(84)
Total	$	67,587	$	(1,966)	$	—	$	—	$	67,587	$	(1,966)


	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 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, net.

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 September 30, 2020 are as follows (in thousands):


	Amortized Cost		Fair Value
Due in one year or less	$	760,203	$	762,434
Due in one to five years	398,217		399,122
Total	$	1,158,420	$	1,161,556

CUSTOMER FUNDS

The following table presents the assets underlying customer funds (in thousands):


	September 30, 2020		December 31, 2019
Cash	$	146,422	$	422,459
Cash Equivalents:
Money market funds	1,024,277		233
Reverse repurchase agreement (i)	75,038		—
U.S. agency securities	—		8,585
U.S. government securities	79,293		6,984
Short-term debt securities:
U.S. agency securities	106,855		—
U.S. government securities	419,078		238,031
Total	$	1,850,963	$	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.

The Company's investments within customer funds as of September 30, 2020 are as follows (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term debt securities:
U.S. agency securities	$	106,799	$	56	$	—	$	106,855
U.S. government securities	419,073		150		(145)		419,078
Total	$	525,872	$	206	$	(145)	$	525,933

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 September 30, 2020 and December 31, 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):


	September 30, 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	65,567		(145)		—		—		65,567		(145)
Total	$	65,567	$	(145)	$	—	$	—	$	65,567	$	(145)


	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 unrealized losses above were caused by interest rate changes. The U.S. government securities are either explicitly or implicitly guaranteed by the U.S. government and are highly rated by major rating agencies. 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, net.

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 September 30, 2020 are as follows (in thousands):


	Amortized Cost		Fair Value
Due in one year or less	$	525,872	$	525,933
Due in one to five years	—		—
Total	$	525,872	$	525,933

FAIR VALUE OF FINANCIAL INSTRUMENTS

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

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):


	September 30, 2020						December 31, 2019
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Cash Equivalents:
Money market funds	$	891,973	$	—	$	—	$	213,576	$	—	$	—
U.S. agency securities	—		24,999		—		—		19,976		—



U.S. government securities	28,643		—		—		46,914		—		—


Customer funds:
Money market funds	1,024,277		—		—		233		—		—
Reverse repurchase agreement	75,038		—		—		—		—		—
U.S. agency securities	—		106,855		—		—		8,585		—
U.S. government securities	498,371		—		—		245,015		—		—
Short-term debt securities:
U.S. agency securities	—		184,771		—		—		131,522		—
Corporate bonds	—		87,225		—		—		67,721		—
Commercial paper	—		4,999		—		—		—		—
Municipal securities	—		9,997		—		—		6,776		—
U.S. government securities	411,660		—		—		265,135		—		—
Foreign government securities	—		63,782		—		—		21,302		—
Long-term debt securities:
U.S. agency securities	—		154,242		—		—		64,068		—
Corporate bonds	—		149,276		—		—		143,078		—
Municipal securities	—		2,819		—		—		9,706		—
U.S. government securities	81,789		—		—		295,779		—		—
Foreign government securities	—		10,996		—		—		24,672		—


Total	$	3,011,751	$	799,961	$	—	$	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):


	September 30, 2020				December 31, 2019
	Carrying Value		Fair Value (Level 2)		Carrying Value		Fair Value (Level 2)
2025 Notes	$	850,524	$	1,522,040	$	—	$	—
2023 Notes	772,037		1,862,207		748,564		962,516
2022 Notes	136,050		1,037,164		190,268		578,817
Total	$	1,758,611	$	4,421,411	$	938,832	$	1,541,333

The estimated fair value and carrying value of loans held for sale is as follows (in thousands):


	September 30, 2020				December 31, 2019
	Carrying Value		Fair Value (Level 3)		Carrying Value		Fair Value (Level 3)
Loans held for sale	$	524,173	$	532,625	$	164,834	$	173,360

For the three and nine months ended September 30, 2020, the Company recorded a charge for the excess of amortized cost over fair value of the loans of $3.2 million and $25.7 million, respectively. For the three and nine months ended September 30, 2019, the Company recorded a charge for the excess of amortized cost over fair value of the loans of $5.3 million and $18.4 million, respectively. To determine the fair value of the loans held for sale, 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 September 30, 2020, the Company considered other relevant market data in developing such estimates and assumptions, including the impact of the COVID-19 outbreak, 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. As of September 30, 2020, $462.1 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 September 30, 2020 were immaterial.

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 three and nine months ended September 30, 2020 and 2019, the Company did not have any transfers in or out of Level 1, Level 2, or Level 3 assets or liabilities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

PROPERTY AND EQUIPMENT, NET

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

The following is a summary of property and equipment, less accumulated depreciation and amortization (in thousands):


	September 30, 2020		December 31, 2019
Leasehold improvements	$	152,917	$	111,942
Computer equipment	118,533		106,469
Capitalized software	108,213		81,984
Office furniture and equipment	32,451		27,328

Total	412,114		327,723
Less: Accumulated depreciation and amortization	(216,177)		(178,529)
Property and equipment, net	$	195,937	$	149,194

Depreciation and amortization expense on property and equipment was $15.4 million and $48.2 million for the three and nine months ended September 30, 2020, respectively. Depreciation and amortization expense on property and equipment was $15.3 million and $45.6 million for the three and nine months ended September 30, 2019, respectively. Included in office furniture and equipment and computer equipment as of September 30, 2020 and December 31, 2019 was $16.0 million and $13.1 million related to finance leased assets with an accumulated depreciation of $12.9 million and $10.7 million, respectively.

ACQUISITIONS	9 Months Ended
ACQUISITIONS	Sep. 30, 2020
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONSIn the nine months ended September 30, 2020, the Company completed certain acquisitions for a total consideration of $76.4 million comprised of $41.1 million in cash and $35.3 million in Class A common stock. Of the total purchase consideration, $34.0 million was allocated to goodwill which was primarily attributable to the value of expected synergies created by incorporating the acquired technologies into the Company's technology platform and the value of the assembled workforce, while $51.1 million was allocated to intangible assets. None of the goodwill generated from the acquisitions or the acquired intangible assets are expected to be deductible for tax purposes.

GOODWILL

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

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, 2019	$	266,345
Acquisitions	33,984
Other adjustments	291
Balance at September 30, 2020	$	300,620

The Company performs an annual goodwill impairment test on December 31 and more frequently if events and circumstances indicate that the asset might be impaired.

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 18, Segment and Geographical Information), effective June 30, 2020. 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. As of September 30, 2020 goodwill allocated to Seller and Cash App segments amounted to $187.9 million and $112.7 million, respectively.

ACQUIRED INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

ACQUIRED INTANGIBLE ASSETS

The following table presents the detail of acquired intangible assets as of the periods presented (in thousands):


	Balance at September 30, 2020
	Weighted Average Estimated Useful Life	Cost		Accumulated Amortization		Net
Technology assets	6 years	$	94,152	$	(39,547)	$	54,605
Customer assets	12 years	48,372		(9,712)		38,660
Trade name	6 years	18,269		(7,054)		11,215
Other	8 years	5,715		(2,633)		3,082
Total		$	166,508	$	(58,946)	$	107,562


	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 September 30, 2020, and concluded that no impairment charges were required.

The changes to the carrying value of intangible assets were as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Acquired intangible assets, net, beginning of the period	$	99,802	$	84,216	$	69,079	$	77,102
Acquisitions	12,100		—		51,109		14,559
Amortization expense	(5,236)		(3,841)		(13,522)		(11,286)
Transfer to assets held for sale	—		(7,582)		—		(7,582)
Other Adjustments	896		—		896		—
Acquired intangible assets, net, end of the period	$	107,562	$	72,793	$	107,562	$	72,793

The estimated future amortization expense of intangible assets in future periods as of September 30, 2020 is as follows (in thousands):


Remainder of 2020	$	5,277
2021	20,595
2022	18,521
2023	17,270
2024	14,292
Thereafter	31,607
Total	$	107,562

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)

Other Current Assets

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


	September 30, 2020		December 31, 2019
Inventory, net	$	70,422	$	47,683
Restricted cash	27,556		38,873
Processing costs receivable	147,021		67,281
Prepaid expenses	25,430		22,758
Accounts receivable, net	39,612		33,863

Other	78,065		39,951
Total	$	388,106	$	250,409

Accrued Expenses and Other Current Liabilities

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


	September 30, 2020		December 31, 2019
Accrued expenses	$	146,485	$	128,387
Square Payroll payable (i)	42,246		27,969
Accrued transaction losses (ii)	86,935		34,771
Accounts payable	36,384		42,116
Deferred revenue, current	46,098		38,104
Other	69,238		26,494
Total	$	427,386	$	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. During the first and second quarters of 2020, the Company revised its estimates to reflect expected increased chargebacks from non-delivery of goods and services as well as increased failure rates of its sellers due to the COVID-19 outbreak. During the third quarter of 2020, the Company continued to further revise its estimates for transaction losses and as a result of better than expected performance, and the Company released previously established risk loss provisions for the first and second quarter of 2020 amounting to $39.6 million.

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Accrued transaction losses, beginning of the period	$	109,061	$	39,630	$	34,771	$	33,682
Provision for transaction losses	(4,549)		18,225		107,524		60,223
Charge-offs to accrued transaction losses	(17,577)		(20,436)		(55,360)		(56,486)
Accrued transaction losses, end of the period	$	86,935	$	37,419	$	86,935	$	37,419

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 $103.9 million and $200.9 million for the three and nine months ended September 30, 2020, respectively, and $17.3 million and $67.3 million for the three and nine months ended September 30, 2019, respectively, for such losses.

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)

Other Non-Current Assets

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


	September 30, 2020		December 31, 2019
Investment in non-marketable equity securities (i)	$	130,999	$	110,000

Non-current lease prepayments (ii)	—		45,738
Restricted cash	13,702		12,715
Other	24,881		27,935
Total	$	169,582	$	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. The Company recorded adjustments to the carrying value, with a gain of $21.0 million during the second quarter of 2020, for observable price changes. The adjustments were recorded in Other income (expense) in the condensed consolidated statement of operations.

(ii) 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):


	September 30, 2020		December 31, 2019
Statutory liabilities (i)	$	69,010	$	54,762
Deferred revenue, non-current	7,068		6,227

Other	6,058		33,472
Total	$	82,136	$	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 SHEET COMPONENTS (NON-CURRENT)

9 Months Ended

Sep. 30, 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):


	September 30, 2020		December 31, 2019
Inventory, net	$	70,422	$	47,683
Restricted cash	27,556		38,873
Processing costs receivable	147,021		67,281
Prepaid expenses	25,430		22,758
Accounts receivable, net	39,612		33,863

Other	78,065		39,951
Total	$	388,106	$	250,409

Accrued Expenses and Other Current Liabilities

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


	September 30, 2020		December 31, 2019
Accrued expenses	$	146,485	$	128,387
Square Payroll payable (i)	42,246		27,969
Accrued transaction losses (ii)	86,935		34,771
Accounts payable	36,384		42,116
Deferred revenue, current	46,098		38,104
Other	69,238		26,494
Total	$	427,386	$	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. During the first and second quarters of 2020, the Company revised its estimates to reflect expected increased chargebacks from non-delivery of goods and services as well as increased failure rates of its sellers due to the COVID-19 outbreak. During the third quarter of 2020, the Company continued to further revise its estimates for transaction losses and as a result of better than expected performance, and the Company released previously established risk loss provisions for the first and second quarter of 2020 amounting to $39.6 million.

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Accrued transaction losses, beginning of the period	$	109,061	$	39,630	$	34,771	$	33,682
Provision for transaction losses	(4,549)		18,225		107,524		60,223
Charge-offs to accrued transaction losses	(17,577)		(20,436)		(55,360)		(56,486)
Accrued transaction losses, end of the period	$	86,935	$	37,419	$	86,935	$	37,419

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 $103.9 million and $200.9 million for the three and nine months ended September 30, 2020, respectively, and $17.3 million and $67.3 million for the three and nine months ended September 30, 2019, respectively, for such losses.

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)

Other Non-Current Assets

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


	September 30, 2020		December 31, 2019
Investment in non-marketable equity securities (i)	$	130,999	$	110,000

Non-current lease prepayments (ii)	—		45,738
Restricted cash	13,702		12,715
Other	24,881		27,935
Total	$	169,582	$	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. The Company recorded adjustments to the carrying value, with a gain of $21.0 million during the second quarter of 2020, for observable price changes. The adjustments were recorded in Other income (expense) in the condensed consolidated statement of operations.

(ii) 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):


	September 30, 2020		December 31, 2019
Statutory liabilities (i)	$	69,010	$	54,762
Deferred revenue, non-current	7,068		6,227

Other	6,058		33,472
Total	$	82,136	$	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

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

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 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, as discussed below. The PPPLF permits participants which have originated or purchased PPP loans to borrow from an applicable Federal Reserve Bank in an amount up to 100% of the principal amount of the PPP loans pledged as collateral for such borrowing.

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. The margin is determined based on the Company’s total net leverage ratio, as defined in the agreement. The Company is obligated to pay other 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 and no letters of credit have been issued under the 2020 Credit Facility. The 2020 Credit Facility has certain restrictions including the amount and type of borrowing arrangements that are permitted. The Company incurred $0.2 million and $0.5 million in unused commitment fees during the three and nine months ended September 30, 2020, respectively, compared to $0.1 million and $0.4 million during the three and nine months ended September 30, 2019, respectively. As of September 30, 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 up to an aggregate principal amount of $500.0 million. 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 September 30, 2020, $473.5 million of PPPLF advances were outstanding.

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 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 nine months period ended September 30, 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 September 30, 2020, the if-converted value of the 2025 Notes exceeded the outstanding principal amount by $343.3 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. In addition, following specified corporate events that occur prior to the maturity date, the Company will, in certain circumstances, increase the conversion rate for a holder who elects to convert their notes in connection with such an event. 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's current policy is to settle conversions 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 2023 Notes. The circumstances required to allow the holders to convert their 2023 Notes during the nine months period ended September 30, 2020 were not met. The circumstances to allow conversions in the fourth quarter of 2020 have been met.

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 were 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 September 30, 2020, the if-converted value of the 2023 Notes exceeded the outstanding principal amount by $938.4 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. 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 notes in connection with such an event in certain circumstances. 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 September 30, 2020. As of September 30, 2020, certain holders of the 2022 Notes have converted an aggregate principal amount of $294.0 million of their Notes, of which $65.7 million was converted during the nine months ended September 30, 2020. The Company has settled the conversions through a combination of $219.4 million in cash and issuance of 10.2 million shares of the Company's Class A common stock. The conversions during the nine months ended September 30, 2020 were settled entirely in shares of the Company's Class A common stock. The Company currently expects to settle future conversions 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 were 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 $7.4 million, of which $2.4 million was recorded during the nine months ended September 30, 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 September 30, 2020, the if-converted value of the 2022 Notes exceeded the outstanding principal amount by $888.2 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
September 30, 2020
2025 Notes	$	1,000,000	$	(137,518)	$	(11,958)	$	850,524
2023 Notes	862,500		(87,749)		(2,714)		772,037
2022 Notes	146,007		(8,961)		(996)		136,050
Total	$	2,008,507	$	(234,228)	$	(15,668)	$	1,758,611

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
September 30, 2020
2025 Notes	$	154,600	$	(2,342)	$	152,258
2023 Notes	155,250		(1,231)		154,019
2022 Notes	28,605		(764)		27,841
Total	$	338,455	$	(4,337)	$	334,118

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):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Contractual interest expense	$	1,544	$	1,277	$	4,482	$	3,831
Amortization of debt discount and issuance costs	17,516		9,843		47,624		29,176
Total	$	19,060	$	11,120	$	52,106	$	33,007

The effective interest rate of the liability component is 3.81%, 4.69%, and 5.34% for the 2025 Notes, 2023 Notes, and 2022 Notes, respectively.

Convertible Note Hedge and Warrant Transactions

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 (2020 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 2020 Counterparties whereby the 2020 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 per share to approximately $161.34 per share. As these instruments are considered indexed to the Company's own stock and are considered equity classified, the 2025 convertible note hedges and 2025 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 2025 convertible note hedge and 2025 warrant transactions were recorded as a reduction to additional paid-in capital on the condensed consolidated balance sheets.

In connection with the offering of the 2023 Notes, the Company entered into convertible note hedge transactions (2023 convertible note hedges) with certain financial institution counterparties (2018 Counterparties) whereby the Company has the option to purchase a total of approximately 11.1 million shares of its Class A common stock at a price of approximately $77.85 per share. The total cost of the 2023 convertible note hedge transactions was $172.6 million. In addition, the Company sold warrants (2023 warrants) to the 2018 Counterparties whereby the 2018 Counterparties have the option to purchase a total of 11.1 million shares of the Company’s Class A common stock at a price of approximately $109.26 per share. The Company received $112.1 million in cash proceeds from the sale of the 2023 warrants. Taken together, the purchase of the 2023 convertible note hedges and sale of the 2023 warrants are intended to reduce dilution from the conversion of the 2023 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of the converted 2023 Notes, as the case may be, and to effectively increase the overall conversion price from approximately $77.85 per share to approximately $109.26 per share. As these instruments are considered indexed to the Company's own stock and are considered equity classified, the 2023 convertible note hedges and 2023 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 2023 convertible note hedge and 2023 warrant transactions were recorded as a reduction to additional paid-in capital on the condensed consolidated balance sheets.

In connection with the offering of the 2022 Notes, the Company entered into convertible note hedge transactions (2022 convertible note hedges) with certain financial institution counterparties (2017 Counterparties) whereby the Company has the option to purchase a total of approximately 19.2 million shares of its Class A common stock at a price of approximately $22.95 per share. The total cost of the 2022 convertible note hedge transactions was $92.1 million. In addition, the Company sold warrants (2022 warrants) to the 2017 Counterparties whereby the 2017 Counterparties have the option to purchase a total of 19.2 million shares of the Company’s Class A common stock at a price of approximately $31.18 per share. The Company received $57.2 million in cash proceeds from the sale of the 2022 warrants. Taken together, the purchase of the

2022 convertible note hedges and sale of the 2022 warrants are intended to reduce dilution from the conversion of the 2022 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of the converted 2022 Notes, as the case may be, and to effectively increase the overall conversion price from approximately $22.95 per share to approximately $31.18 per share. As these instruments are considered indexed to the Company's own stock and are considered equity classified, the 2022 convertible note hedges and 2022 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 2022 convertible note hedge and 2022 warrant transactions were recorded as a reduction to additional paid-in capital on the condensed consolidated balance sheets. The Company has exercised a pro-rata portion of the 2022 convertible note hedges to offset the shares of the Company's Class A common stock issued to settle the conversion of the 2022 Notes discussed above. The 2022 convertible note hedges were net share settled, and as of September 30, 2020, the Company has received 7.9 million shares of the Company's Class A common stock from the 2017 Counterparties, of which 0.7 million was received in the nine months ended September 30, 2020.

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company recorded an income tax benefit of $1.4 million and $1.6 million for the three and nine months ended September 30, 2020, respectively, compared to an income tax expense of $2.6 million and $2.3 million for the three and nine months ended September 30, 2019, respectively. The income tax benefit recorded for the three and nine months ended September 30, 2020 is primarily due to a release in the valuation allowances as a result of recently acquired deferred tax liabilities offset by foreign income tax expense net of excess stock-based compensation tax deductions. The difference between the income tax benefit for the three and nine months ended September 30, 2020 and the income tax expense for the three and nine months ended September 30, 2019 primarily relates to the release of valuation allowances as a result of recently acquired deferred tax liabilities and excess stock-based compensation tax deductions. The Company’s effective tax rate may be subject to fluctuations during the year as new information is obtained, which may affect the assumptions used to estimate the annual effective tax rate, including factors such as the mix of forecasted pre-tax earnings in the various jurisdictions in which the Company operates, changes in valuation allowances against deferred tax assets, the recognition and de-recognition of tax benefits related to uncertain tax positions, and changes in or the interpretation of tax laws in jurisdictions where the Company conducts business. As of September 30, 2020, the Company retains a full valuation allowance on its net deferred tax assets in the U.S. and certain foreign jurisdictions. The realization of the Company’s deferred tax assets depends primarily on its ability to generate taxable income in future periods. 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 tax provision for the three and nine months ended September 30, 2020 and September 30, 2019, is calculated on a jurisdictional basis. The Company estimated the foreign income tax provision using the estimated annual effective income tax rate expected to be applicable for the full year. The Company also considered recent tax law changes in response to the COVID-19 pandemic, including the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was enacted in the U.S. on March 27, 2020. The tax benefits and other changes provided under the CARES Act do not materially impact the Company’s income tax provision, and does not change the Company’s evaluation of the need for a valuation allowance against deferred tax assets in the U.S.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Common Stock

The Company has authorized the issuance of Class A common stock and Class B common stock. 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 Condensed Consolidated Financial Statements, unless otherwise noted. As of September 30, 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 September 30, 2020, there were 380,355,619 shares of Class A common stock and 67,339,578 shares of Class B common stock outstanding. Options and awards granted following the Company's initial public offering are related to underlying Class A common stock.

Warrants

In conjunction with the 2025 Notes offering, the Company sold the 2025 warrants whereby the 2020 Counterparties have the option to purchase a total of approximately 8.26 million shares of the Company’s Class A common stock at a price of $161.34 per share. None of the 2025 warrants were exercised as of September 30, 2020 and expire on June 1, 2025.

In conjunction with the 2023 Notes offering, the Company sold the 2023 warrants whereby the 2018 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 2023 warrants were exercised as of September 30, 2020 and expire on August 15, 2023.

In conjunction with the 2022 Notes offering, the Company sold the 2022 warrants whereby the 2017 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 2022 warrants were exercised as of September 30, 2020 and expire on June 1, 2022.

Conversion of 2022 Notes

In connection with the conversion of certain of the 2022 Notes, the Company issued 2.9 million shares of Class A common stock in the nine months ended September 30, 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 September 30, 2020, the total number of shares subject to stock options, RSAs and RSUs outstanding under the 2015 Plan was 22,654,778, and 97,989,842 shares were available for future issuance. As of September 30, 2020, the total number of shares subject to stock options, RSAs and RSUs outstanding under the 2009 Plan was 10,776,196.

A summary of stock option activity for the nine months ended September 30, 2020 is as follows (in thousands, except share and per share data):


	Number of Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Balance at December 31, 2019	23,619,804	$	12.66	4.89	$	1,191,746
Granted	1,538,109	59.46
Exercised	(8,430,923)	9.98
Forfeited	(340,594)	61.20
Balance at September 30, 2020	16,386,396	$	17.40	4.60	$	2,378,524



Options exercisable as of September 30, 2020	14,389,236	$	11.53	4.00	$	2,172,994

Restricted Stock Activity

Activity related to RSAs and RSUs during the nine months ended September 30, 2020 is set forth below:


	Number of shares	Weighted Average Grant Date Fair Value
Unvested as of December 31, 2019	13,917,461	$	49.90
Granted	9,740,495	68.25
Vested	(5,521,432)	41.08
Forfeited	(1,091,946)	55.30
Unvested as of September 30, 2020	17,044,578	$	62.93

Share-Based Compensation

The fair value of stock options and employee stock purchase plan rights are estimated on the date of grant using the Black-Scholes-Merton option valuation model. The fair value of RSAs and RSUs is determined by the closing price of the Company’s common stock on each grant date.

The following table summarizes the effects of share-based compensation on the Company's condensed consolidated statements of operations (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Cost of revenue	$	100	$	38	$	271	$	88
Product development	78,682		56,321		205,647		155,114
Sales and marketing	12,063		6,269		27,354		20,304
General and administrative	19,544		14,798		50,600		42,474
Total	$	110,389	$	77,426	$	283,872	$	217,980

The Company recorded $3.3 million and $12.1 million of share-based compensation expense related to the Company's 2015 Employee Stock Purchase Plan during the three and nine months ended September 30, 2020, respectively, compared to $5.1 million and $14.1 million during the three and nine months ended September 30, 2019, respectively, which are included in the table above.

The Company capitalized $3.8 million and $9.5 million of share-based compensation expense related to capitalized software costs during the three and nine months ended September 30, 2020, respectively, compared to $2.4 million and $6.0 million during the three and nine months ended September 30, 2019, respectively.

As of September 30, 2020, there was $1.2 billion of total unrecognized compensation cost related to outstanding stock options and restricted stock awards that are expected to be recognized over a weighted-average period of 2.8 years.

NET INCOME (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

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 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 periods when the Company reported a net loss, diluted net loss per share is the same as

basic net 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):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:
Net income (loss)	$	36,515	$	29,397	$	(80,854)	$	(15,494)
Denominator:
Basic shares:
Weighted-average common shares outstanding	445,074		427,906		440,540		423,957
Weighted-average unvested shares	(616)		(782)		(685)		(718)
Weighted-average shares used to compute basic net income (loss) per share	444,458		427,124		439,855		423,239
Diluted shares:
Stock options and restricted stock units	25,861		28,549		—		—
Convertible senior notes	—		—		—		—
Common stock warrants	17,445		10,372		—		—

Employee stock purchase plan	305		54		—		—
Weighted-average shares used to compute diluted net income (loss) per share	488,069		466,099		439,855		423,239
Net income (loss) per share:
Basic	$	0.08	$	0.07	$	(0.18)	$	(0.04)
Diluted	$	0.07	$	0.06	$	(0.18)	$	(0.04)

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):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Stock options and restricted stock units	9,425	15,113	35,863	46,045
Common stock warrants	21,071	19,880	36,556	30,252

Convertible senior notes	26,738	20,305	25,532	20,305
Unvested shares	616	782	685	718
Employee stock purchase plan	268	189	897	217
Total anti-dilutive securities	58,118	56,269	99,533	97,537

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Sep. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSIn 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 17, Commitments and Contingencies. The lease commencement date varies by floor beginning in May 2020 through November 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 September 30, 2020, the Company had recorded right-of-use assets of $18.3 million and associated lease liabilities of $27.4 million related to this lease arrangement.

COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

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 offices in Oakland, New York and St. Louis. The Company's leases have remaining lease terms of 1 to 12 years, some of which include options to extend for one or more 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. The Company elected to apply the short-term lease measurement and recognition exemption to its leases where applicable. Generally, 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 non-cancellable lease term on the lease commencement date of 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.

In December 2018, the Company entered into a lease arrangement for 355,762 square feet of office space in Oakland, California for a term of 12 years with options to extend the lease term for two 5-year terms. The lease commencement date was January 15, 2020. In July 2019, the Company entered into a lease arrangement for 226,158 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.

Additionally, the Company has finance leases for data center equipment, with remaining lease terms of approximately 0.2 years.

The components of lease expense for the periods presented were as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Fixed operating lease costs	$	18,439	$	7,449	$	50,782	$	21,626
Variable operating lease costs	3,286		1,646		12,297		3,871
Short term lease costs	1,660		620		5,437		1,438
Sublease income	(2,396)		(1,468)		(6,012)		(1,570)

Amortization of finance lease right-of-use assets	280		1,284		2,203		3,861

Total lease costs	$	21,269	$	9,531	$	64,707	$	29,226

Other information related to leases were as follows:


	September 30, 2020
Weighted Average Remaining Lease Term:
Operating leases	8.8 years
Finance leases	0.2 years
Weighted Average Discount Rate:
Operating leases	4	%
Finance leases	—	%

Cash flows related to leases were as follows (in thousands):


	Nine Months Ended September 30,
	2020		2019
Cash flows from operating activities:
Payments for operating lease liabilities	$	(29,950)	$	(24,580)
Cash flows from financing activities:
Principal payments on finance lease obligation	$	(2,203)	$	(3,860)
Supplemental Cash Flow Data:
Right-of-use assets obtained in exchange for operating lease obligations	$	321,245	$	31,013

Future minimum lease payments under non-cancelable operating leases (with initial lease terms in excess of one year) and future minimum finance lease payments as of September 30, 2020 are as follows (in thousands):


	Finance		Operating
Year:
Remainder of 2020	$	242	$	14,652
2021	—		70,582
2022	—		72,208
2023	—		65,840
2024	—		46,850
Thereafter	—		274,794
Total	$	242	$	544,926
Less: amount representing interest	—		84,783
Less: leases executed but not yet commenced	—		6,571
Less: lease incentives	—		17,548
Total	$	242	$	436,024

The current portion of the finance lease liability is included within other current liabilities on the condensed consolidated balance sheets. The associated finance lease assets are included in property and equipment, net on the condensed consolidated balance sheets.

Litigation

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 INFORMATION

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC 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 net 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):


	Three Months Ended September 30, 2020						Nine Months Ended September 30, 2020
	Cash App		Seller		Total		Cash App		Seller		Total
Revenue
Transaction-based revenue	$	80,721	$	844,573	$	925,294	$	162,197	$	2,203,770	$	2,365,967
Subscription and services-based revenue	354,110		93,412		447,522		818,991		271,041		1,090,032
Hardware revenue	—		27,294		27,294		—		67,291		67,291
Bitcoin revenue	1,633,764		—		1,633,764		2,815,318		—		2,815,318
Segment revenue	2,068,595		965,279		3,033,874		3,796,506		2,542,102		6,338,608
Segment gross profit	$	385,124	$	409,331	$	794,455	$	848,919	$	1,080,800	$	1,929,719


	Three Months Ended September 30, 2019						Nine Months Ended September 30, 2019
	Cash App		Seller		Total		Cash App		Seller		Total
Revenue
Transaction-based revenue	$	19,216	$	797,406	$	816,622	$	51,462	$	2,197,432	$	2,248,894
Subscription and services-based revenue	139,539		99,315		238,854		354,575		264,599		619,174
Hardware revenue	—		21,766		21,766		—		62,238		62,238
Bitcoin revenue	148,285		—		148,285		338,898		—		338,898
Segment revenue	307,040		918,487		1,225,527		744,935		2,524,269		3,269,204
Segment gross profit	$	123,490	$	363,884	$	487,374	$	313,642	$	1,011,595	$	1,325,237

The amounts in the table 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):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019

Total segment revenue	$	3,033,874	$	1,225,527	$	6,338,608	$	3,269,204
Caviar revenue	—		40,947		—		130,867
Total net revenue	$	3,033,874	$	1,266,474	$	6,338,608	$	3,400,071

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Total segment gross profit	$	794,455	$	487,374	$	1,929,719	$	1,325,237
Add: Caviar gross profit	—		12,663		—		37,399
Total reported operating gross profit	794,455		500,037		1,929,719		1,362,636
Less: Product development	226,567		168,771		628,378		497,322
Less: Sales and marketing	348,463		149,467		781,094		439,601
Less: General and administrative	153,902		115,980		419,783		318,086
Less: Transaction and loan losses	15,198		32,722		161,684		94,827
Less: Amortization of acquired customer assets	983		1,003		2,778		3,591
Less: Interest expense, net	14,980		5,632		38,955		15,456
Less: Other expense (income), net	(784)		(5,541)		(20,513)		6,988
Income (loss) before applicable income taxes	$	35,146	$	32,003	$	(82,440)	$	(13,235)

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):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Revenue
United States	$	2,947,400	$	1,200,488	$	6,126,971	$	3,233,432
International	86,474		65,986		211,637		166,639
Total net revenue	$	3,033,874	$	1,266,474	$	6,338,608	$	3,400,071

No individual country from the international markets contributed in excess of 10% of total revenue for the three and nine months ended September 30, 2020 and September 30, 2019.

Long-Lived Assets

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


	September 30, 2020		December 31, 2019
Long-lived assets
United States	$	998,115	$	586,702
International	56,187		11,064
Total long-lived assets	$	1,054,302	$	597,766

Assets by reportable segment were not included, as this information is not reviewed by the CODM to make operating decisions or allocate resources, and is reviewed on a consolidated basis.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

SUPPLEMENTAL CASH FLOW INFORMATION

9 Months Ended

Sep. 30, 2020

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

The supplemental disclosures of cash flow information consist of the following (in thousands):


	Nine Months Ended September 30,
	2020		2019
Analysis of cash, cash equivalents, and restricted cash
Cash and cash equivalents	$	2,118,808	$	612,048
Short-term restricted cash	27,556		27,389
Long-term restricted cash	13,702		14,433
Cash, cash equivalents, and restricted cash	$	2,160,066	$	653,870


	Nine Months Ended September 30,
	2020		2019
Supplemental Cash Flow Data:
Cash paid for interest	$	3,665	$	3,377
Cash paid for income taxes	4,452		2,266
Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease obligations	321,245		31,013
Change in purchases of property and equipment in accounts payable and accrued expenses	(4,207)		11,402
Unpaid business combination purchase price	8,974		8,411

Fair value of common stock issued and issuable in future related to business combination	(35,318)		—
Recovery of common stock in connection with indemnification settlement agreement	—		789
Fair value of common stock issued to settle the conversion of senior notes, due 2022	(323,891)		—

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim condensed consolidated financial statements of the Company are unaudited. These interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and the applicable rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The December 31, 2019 condensed consolidated balance sheet was derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to state fairly the Company's consolidated financial position, results of operations, comprehensive income (loss), and cash flows for the interim periods. All intercompany transactions and balances have been eliminated in consolidation. The interim results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, or for any other future annual or interim period. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and related notes in the Company's Annual Report on Form 10-K for the year ended December 31, 2019.
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. Generally, the Company's estimates and assumptions consider current and past experience, to the extent that historical experience is predictive of future performance. Estimates, judgments, and assumptions in these consolidated financial statements include, but are not limited to, those related to revenue recognition, accrued transaction losses, credit loss allowances from marketable debt securities, 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, 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.
Concentration of Credit Risk	Concentration of Credit Risk For the three and nine months ended September 30, 2020 and September 30, 2019, 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 52% and 36% of settlements receivable as of September 30, 2020. As of December 31, 2019, the Company had 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 receivables, 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 or two business days to settle which mitigates the associated risk of concentration. The associated risk of concentration for loans held for sale is partially mitigated by credit evaluations that are performed prior to facilitating the offering of loans and ongoing performance monitoring of the Company’s loan customers. The risk associated with the PPP loans is considered low due to government guarantees on those loans.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently adopted accounting pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments - Credit Losses, which requires the measurement and recognition of expected credit losses for financial assets held. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available for sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company adopted this guidance effective January 1, 2020 and has applied the guidance prospectively. The Company has concluded that the adoption of the guidance did not have a material impact on the balances reported in its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment. The new guidance eliminated the requirement to calculate the implied fair value of goodwill assuming a hypothetical purchase price allocation (i.e., Step 2 of the goodwill impairment test) to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value, not to exceed the carrying amount of goodwill. This standard should be adopted when the Company performs its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019, with early adoption permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The amendments should be applied on a prospective basis. The Company adopted this guidance effective January 1, 2020 and will apply the guidance during its annual goodwill impairment test for the year ending December 31, 2020. As of June 30, 2020, the Company applied the guidance during its change from one to two reportable segments to more accurately reflect the manner in which its CODM reviews and assesses performance. The goodwill impairment test was performed immediately before and after the reorganization and goodwill was reassigned to the two reportable segments. The adoption of this guidance did not have a material impact on the consolidated financial statements and related disclosures. In July 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement, which removed, modified, and added disclosure requirements for fair value measurements to improve the overall usefulness of such disclosures. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted for any removed or modified disclosure requirements. Transition is on a prospective basis for the new and modified disclosures, and on a retrospective basis for disclosures that have been eliminated. The Company adopted this guidance effective January 1, 2020 and has applied the guidance prospectively, and included additional disclosures required by the new guidance relating to significant unobservable inputs used to develop Level 3 fair value measurements. In August 2018, the FASB issued ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which is intended to align the requirements for capitalization of implementation costs incurred in a cloud computing arrangement that is a service contract with the existing guidance for internal-use software. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. The guidance provides flexibility in adoption, allowing for either retrospective adjustment or prospective adjustment for all implementation costs incurred after the date of adoption. The Company adopted this guidance effective January 1, 2020 and has applied the guidance prospectively. The adoption of this guidance did not have a material impact on the consolidated financial statements and related disclosures. In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments — Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. The amendments clarify the scope of the credit losses standard and hedge accounting among other things. The Company adopted ASC 326 on January 1, 2020 for credit losses. With respect to hedge accounting, the amendments address partial-term fair value hedges and fair value hedge basis adjustments, among other things. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted as long an entity has also adopted the amendments in ASU No. 2016-13. The adoption of this guidance did not have a material impact on the consolidated financial statements and related disclosures. Entities that have already adopted ASU No. 2017-12 are permitted to elect either retrospectively or prospectively adopt the amendments. The Company had previously adopted ASU No. 2017-12 on January 1, 2019 and therefore is eligible to and has prospectively adopted the amendments. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes: Simplifying the Accounting for Income Taxes, 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 things, the new guidance simplifies intraperiod tax allocation and reduces the complexity in accounting for income taxes with year-to-date losses in interim periods. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years, with early adoption permitted. The Company early adopted this guidance effective January 1, 2020 and has applied the guidance prospectively. The adoption did not have a material impact on the consolidated financial statements and related disclosures. Recently issued accounting pronouncements not yet adopted In August 2020, the FASB issued 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 the separation models for convertible debt with cash conversion features. 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 expects to early adopt the new guidance on January 1, 2021 using the modified retrospective approach with the cumulative effect of adoption recognized at the date of initial application through an adjustment to the opening balance of retained earnings. The Company expects the adoption of this guidance will result in a material reclassification from equity to debt, as well as a reduction in interest expense.
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTSThe 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.

REVENUE (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table presents the Company's revenue disaggregated by revenue source (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Revenue from Contracts with Customers:
Transaction-based revenue	$	925,294	$	816,622	$	2,365,967	$	2,248,894
Subscription and services-based revenue	432,394		239,895		1,017,040		645,588
Hardware revenue	27,294		21,766		67,291		62,238
Bitcoin revenue	1,633,764		148,285		2,815,318		338,898
Revenue from other sources:
Subscription and services-based revenue	$	15,128	$	39,906	$	72,992	$	104,453

Schedule of Deferred Revenue

The deferred revenue balances were as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Deferred revenue, beginning of the period	$	51,549	$	44,812	$	44,331	$	36,451
Deferred revenue, end of the period	53,166		45,263		53,166		45,263
Deferred revenue arising from business combination	800		—		800		—
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$	17,560	$	12,656	$	33,885	$	28,280

INVESTMENTS IN DEBT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Short-term and Long-term Investments

The Company's short-term and long-term investments as of September 30, 2020 are as follows (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term debt securities:
U.S. agency securities	$	184,330	$	931	$	(490)	$	184,771

Corporate bonds	87,137		296		(208)		87,225
Commercial paper	4,999		—		—		4,999
Municipal securities	9,965		67		(35)		9,997
U.S. government securities	410,310		1,921		(571)		411,660
Foreign government securities	63,462		387		(67)		63,782
Total	$	760,203	$	3,602	$	(1,371)	$	762,434

Long-term debt securities:
U.S. agency securities	$	154,059	$	758	$	(575)	$	154,242

Corporate bonds	148,437		1,158		(319)		149,276
Municipal securities	2,870		40		(91)		2,819
U.S. government securities	81,928		758		(897)		81,789
Foreign government securities	10,923		157		(84)		10,996
Total	$	398,217	$	2,871	$	(1,966)	$	399,122

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 September 30, 2020 are as follows (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term debt securities:
U.S. agency securities	$	106,799	$	56	$	—	$	106,855
U.S. government securities	419,073		150		(145)		419,078
Total	$	525,872	$	206	$	(145)	$	525,933

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 September 30, 2020 and December 31, 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):


	September 30, 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	$	58,213	$	(490)	$	—	$	—	$	58,213	$	(490)
Corporate bonds	26,072		(208)		—		—		26,072		(208)
Municipal securities	4,118		(35)		—		—		4,118		(35)
U.S. government securities	17,399		(571)		—		—		17,399		(571)
Foreign government securities	25,285		(67)		—		—		25,285		(67)
Total	$	131,087	$	(1,371)	$	—	$	—	$	131,087	$	(1,371)

Long-term debt securities:
U.S. agency securities	$	15,642	$	(575)	$	—	$	—	$	15,642	$	(575)

Corporate bonds	51,021		(319)		—		—		51,021		(319)
Municipal securities	577		(91)		—		—		577		(91)
U.S. government securities	—		(897)		—		—		—		(897)
Foreign government securities	347		(84)		—		—		347		(84)
Total	$	67,587	$	(1,966)	$	—	$	—	$	67,587	$	(1,966)


	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 September 30, 2020 and December 31, 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):


	September 30, 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	65,567		(145)		—		—		65,567		(145)
Total	$	65,567	$	(145)	$	—	$	—	$	65,567	$	(145)


	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 September 30, 2020 are as follows (in thousands):


	Amortized Cost		Fair Value
Due in one year or less	$	760,203	$	762,434
Due in one to five years	398,217		399,122
Total	$	1,158,420	$	1,161,556

The contractual maturities of the Company's investments within customer funds as of September 30, 2020 are as follows (in thousands):


	Amortized Cost		Fair Value
Due in one year or less	$	525,872	$	525,933
Due in one to five years	—		—
Total	$	525,872	$	525,933

CUSTOMER FUNDS (Tables)

9 Months Ended

Sep. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Assets Underlying Customer Funds

The following table presents the assets underlying customer funds (in thousands):


	September 30, 2020		December 31, 2019
Cash	$	146,422	$	422,459
Cash Equivalents:
Money market funds	1,024,277		233
Reverse repurchase agreement (i)	75,038		—
U.S. agency securities	—		8,585
U.S. government securities	79,293		6,984
Short-term debt securities:
U.S. agency securities	106,855		—
U.S. government securities	419,078		238,031
Total	$	1,850,963	$	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.

Investments within Customer Funds

The Company's short-term and long-term investments as of September 30, 2020 are as follows (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term debt securities:
U.S. agency securities	$	184,330	$	931	$	(490)	$	184,771

Corporate bonds	87,137		296		(208)		87,225
Commercial paper	4,999		—		—		4,999
Municipal securities	9,965		67		(35)		9,997
U.S. government securities	410,310		1,921		(571)		411,660
Foreign government securities	63,462		387		(67)		63,782
Total	$	760,203	$	3,602	$	(1,371)	$	762,434

Long-term debt securities:
U.S. agency securities	$	154,059	$	758	$	(575)	$	154,242

Corporate bonds	148,437		1,158		(319)		149,276
Municipal securities	2,870		40		(91)		2,819
U.S. government securities	81,928		758		(897)		81,789
Foreign government securities	10,923		157		(84)		10,996
Total	$	398,217	$	2,871	$	(1,966)	$	399,122

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 September 30, 2020 are as follows (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Short-term debt securities:
U.S. agency securities	$	106,799	$	56	$	—	$	106,855
U.S. government securities	419,073		150		(145)		419,078
Total	$	525,872	$	206	$	(145)	$	525,933

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 September 30, 2020 and December 31, 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):


	September 30, 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	$	58,213	$	(490)	$	—	$	—	$	58,213	$	(490)
Corporate bonds	26,072		(208)		—		—		26,072		(208)
Municipal securities	4,118		(35)		—		—		4,118		(35)
U.S. government securities	17,399		(571)		—		—		17,399		(571)
Foreign government securities	25,285		(67)		—		—		25,285		(67)
Total	$	131,087	$	(1,371)	$	—	$	—	$	131,087	$	(1,371)

Long-term debt securities:
U.S. agency securities	$	15,642	$	(575)	$	—	$	—	$	15,642	$	(575)

Corporate bonds	51,021		(319)		—		—		51,021		(319)
Municipal securities	577		(91)		—		—		577		(91)
U.S. government securities	—		(897)		—		—		—		(897)
Foreign government securities	347		(84)		—		—		347		(84)
Total	$	67,587	$	(1,966)	$	—	$	—	$	67,587	$	(1,966)


	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 September 30, 2020 and December 31, 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):


	September 30, 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	65,567		(145)		—		—		65,567		(145)
Total	$	65,567	$	(145)	$	—	$	—	$	65,567	$	(145)


	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 September 30, 2020 are as follows (in thousands):


	Amortized Cost		Fair Value
Due in one year or less	$	760,203	$	762,434
Due in one to five years	398,217		399,122
Total	$	1,158,420	$	1,161,556

The contractual maturities of the Company's investments within customer funds as of September 30, 2020 are as follows (in thousands):


	Amortized Cost		Fair Value
Due in one year or less	$	525,872	$	525,933
Due in one to five years	—		—
Total	$	525,872	$	525,933

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 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):


	September 30, 2020						December 31, 2019
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Cash Equivalents:
Money market funds	$	891,973	$	—	$	—	$	213,576	$	—	$	—
U.S. agency securities	—		24,999		—		—		19,976		—



U.S. government securities	28,643		—		—		46,914		—		—


Customer funds:
Money market funds	1,024,277		—		—		233		—		—
Reverse repurchase agreement	75,038		—		—		—		—		—
U.S. agency securities	—		106,855		—		—		8,585		—
U.S. government securities	498,371		—		—		245,015		—		—
Short-term debt securities:
U.S. agency securities	—		184,771		—		—		131,522		—
Corporate bonds	—		87,225		—		—		67,721		—
Commercial paper	—		4,999		—		—		—		—
Municipal securities	—		9,997		—		—		6,776		—
U.S. government securities	411,660		—		—		265,135		—		—
Foreign government securities	—		63,782		—		—		21,302		—
Long-term debt securities:
U.S. agency securities	—		154,242		—		—		64,068		—
Corporate bonds	—		149,276		—		—		143,078		—
Municipal securities	—		2,819		—		—		9,706		—
U.S. government securities	81,789		—		—		295,779		—		—
Foreign government securities	—		10,996		—		—		24,672		—


Total	$	3,011,751	$	799,961	$	—	$	1,066,652	$	497,406	$	—

The estimated fair value and carrying value of the convertible senior notes were as follows (in thousands):


	September 30, 2020				December 31, 2019
	Carrying Value		Fair Value (Level 2)		Carrying Value		Fair Value (Level 2)
2025 Notes	$	850,524	$	1,522,040	$	—	$	—
2023 Notes	772,037		1,862,207		748,564		962,516
2022 Notes	136,050		1,037,164		190,268		578,817
Total	$	1,758,611	$	4,421,411	$	938,832	$	1,541,333

The estimated fair value and carrying value of loans held for sale is as follows (in thousands):


	September 30, 2020				December 31, 2019
	Carrying Value		Fair Value (Level 3)		Carrying Value		Fair Value (Level 3)
Loans held for sale	$	524,173	$	532,625	$	164,834	$	173,360

PROPERTY AND EQUIPMENT, NET (Tables)

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net

The following is a summary of property and equipment, less accumulated depreciation and amortization (in thousands):


	September 30, 2020		December 31, 2019
Leasehold improvements	$	152,917	$	111,942
Computer equipment	118,533		106,469
Capitalized software	108,213		81,984
Office furniture and equipment	32,451		27,328

Total	412,114		327,723
Less: Accumulated depreciation and amortization	(216,177)		(178,529)
Property and equipment, net	$	195,937	$	149,194

GOODWILL (Tables)

9 Months Ended

Sep. 30, 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, 2019	$	266,345
Acquisitions	33,984
Other adjustments	291
Balance at September 30, 2020	$	300,620

ACQUIRED INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2020
	Weighted Average Estimated Useful Life	Cost		Accumulated Amortization		Net
Technology assets	6 years	$	94,152	$	(39,547)	$	54,605
Customer assets	12 years	48,372		(9,712)		38,660
Trade name	6 years	18,269		(7,054)		11,215
Other	8 years	5,715		(2,633)		3,082
Total		$	166,508	$	(58,946)	$	107,562


	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):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Acquired intangible assets, net, beginning of the period	$	99,802	$	84,216	$	69,079	$	77,102
Acquisitions	12,100		—		51,109		14,559
Amortization expense	(5,236)		(3,841)		(13,522)		(11,286)
Transfer to assets held for sale	—		(7,582)		—		(7,582)
Other Adjustments	896		—		896		—
Acquired intangible assets, net, end of the period	$	107,562	$	72,793	$	107,562	$	72,793

Schedule of Future Amortization Expense of Intangible Assets

The estimated future amortization expense of intangible assets in future periods as of September 30, 2020 is as follows (in thousands):


Remainder of 2020	$	5,277
2021	20,595
2022	18,521
2023	17,270
2024	14,292
Thereafter	31,607
Total	$	107,562

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) (Tables)

9 Months Ended

Sep. 30, 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):


	September 30, 2020		December 31, 2019
Inventory, net	$	70,422	$	47,683
Restricted cash	27,556		38,873
Processing costs receivable	147,021		67,281
Prepaid expenses	25,430		22,758
Accounts receivable, net	39,612		33,863

Other	78,065		39,951
Total	$	388,106	$	250,409

Schedule of Accrued Expenses and Other Current Liabilities

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


	September 30, 2020		December 31, 2019
Accrued expenses	$	146,485	$	128,387
Square Payroll payable (i)	42,246		27,969
Accrued transaction losses (ii)	86,935		34,771
Accounts payable	36,384		42,116
Deferred revenue, current	46,098		38,104
Other	69,238		26,494
Total	$	427,386	$	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. During the first and second quarters of 2020, the Company revised its estimates to reflect expected increased chargebacks from non-delivery of goods and services as well as increased failure rates of its sellers due to the COVID-19 outbreak. During the third quarter of 2020, the Company continued to further revise its estimates for transaction losses and as a result of better than expected performance, and the Company released previously established risk loss provisions for the first and second quarter of 2020 amounting to $39.6 million.

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Accrued transaction losses, beginning of the period	$	109,061	$	39,630	$	34,771	$	33,682
Provision for transaction losses	(4,549)		18,225		107,524		60,223
Charge-offs to accrued transaction losses	(17,577)		(20,436)		(55,360)		(56,486)
Accrued transaction losses, end of the period	$	86,935	$	37,419	$	86,935	$	37,419

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 $103.9 million and $200.9 million for the three and nine months ended September 30, 2020, respectively, and $17.3 million and $67.3 million for the three and nine months ended September 30, 2019, respectively, for such losses.

Schedule of Reserve for Transaction Losses

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Accrued transaction losses, beginning of the period	$	109,061	$	39,630	$	34,771	$	33,682
Provision for transaction losses	(4,549)		18,225		107,524		60,223
Charge-offs to accrued transaction losses	(17,577)		(20,436)		(55,360)		(56,486)
Accrued transaction losses, end of the period	$	86,935	$	37,419	$	86,935	$	37,419

- Definition

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
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-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14472-108349

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14453-108349

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14615-108349

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12021-110248

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14394-108349

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
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-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14435-108349

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12053-110248

+ Details

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) (Tables)

9 Months Ended

Sep. 30, 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):


	September 30, 2020		December 31, 2019
Investment in non-marketable equity securities (i)	$	130,999	$	110,000

Non-current lease prepayments (ii)	—		45,738
Restricted cash	13,702		12,715
Other	24,881		27,935
Total	$	169,582	$	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. The Company recorded adjustments to the carrying value, with a gain of $21.0 million during the second quarter of 2020, for observable price changes. The adjustments were recorded in Other income (expense) in the condensed consolidated statement of operations.

(ii) The non-current lease prepayments as of December 31, 2019, have been reclassified to the operating lease right-of-use assets upon lease commencement.

Schedule of Other Non-Current Liabilities

The following table presents the detail of other non-current liabilities (in thousands):


	September 30, 2020		December 31, 2019
Statutory liabilities (i)	$	69,010	$	54,762
Deferred revenue, non-current	7,068		6,227

Other	6,058		33,472
Total	$	82,136	$	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)

9 Months Ended

Sep. 30, 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
September 30, 2020
2025 Notes	$	1,000,000	$	(137,518)	$	(11,958)	$	850,524
2023 Notes	862,500		(87,749)		(2,714)		772,037
2022 Notes	146,007		(8,961)		(996)		136,050
Total	$	2,008,507	$	(234,228)	$	(15,668)	$	1,758,611

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
September 30, 2020
2025 Notes	$	154,600	$	(2,342)	$	152,258
2023 Notes	155,250		(1,231)		154,019
2022 Notes	28,605		(764)		27,841
Total	$	338,455	$	(4,337)	$	334,118

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):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Contractual interest expense	$	1,544	$	1,277	$	4,482	$	3,831
Amortization of debt discount and issuance costs	17,516		9,843		47,624		29,176
Total	$	19,060	$	11,120	$	52,106	$	33,007

STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of stock option activity for the nine months ended September 30, 2020 is as follows (in thousands, except share and per share data):


	Number of Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Balance at December 31, 2019	23,619,804	$	12.66	4.89	$	1,191,746
Granted	1,538,109	59.46
Exercised	(8,430,923)	9.98
Forfeited	(340,594)	61.20
Balance at September 30, 2020	16,386,396	$	17.40	4.60	$	2,378,524



Options exercisable as of September 30, 2020	14,389,236	$	11.53	4.00	$	2,172,994

Schedule of Restricted Stock Awards and Restricted Stock Units Activity

Activity related to RSAs and RSUs during the nine months ended September 30, 2020 is set forth below:


	Number of shares	Weighted Average Grant Date Fair Value
Unvested as of December 31, 2019	13,917,461	$	49.90
Granted	9,740,495	68.25
Vested	(5,521,432)	41.08
Forfeited	(1,091,946)	55.30
Unvested as of September 30, 2020	17,044,578	$	62.93

Summary of the Effect of Share-Based Compensation on the Condensed Consolidated Statements of Operations

The following table summarizes the effects of share-based compensation on the Company's condensed consolidated statements of operations (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Cost of revenue	$	100	$	38	$	271	$	88
Product development	78,682		56,321		205,647		155,114
Sales and marketing	12,063		6,269		27,354		20,304
General and administrative	19,544		14,798		50,600		42,474
Total	$	110,389	$	77,426	$	283,872	$	217,980

NET INCOME (LOSS) PER SHARE (Tables)

9 Months Ended

Sep. 30, 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):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:
Net income (loss)	$	36,515	$	29,397	$	(80,854)	$	(15,494)
Denominator:
Basic shares:
Weighted-average common shares outstanding	445,074		427,906		440,540		423,957
Weighted-average unvested shares	(616)		(782)		(685)		(718)
Weighted-average shares used to compute basic net income (loss) per share	444,458		427,124		439,855		423,239
Diluted shares:
Stock options and restricted stock units	25,861		28,549		—		—
Convertible senior notes	—		—		—		—
Common stock warrants	17,445		10,372		—		—

Employee stock purchase plan	305		54		—		—
Weighted-average shares used to compute diluted net income (loss) per share	488,069		466,099		439,855		423,239
Net income (loss) per share:
Basic	$	0.08	$	0.07	$	(0.18)	$	(0.04)
Diluted	$	0.07	$	0.06	$	(0.18)	$	(0.04)

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):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Stock options and restricted stock units	9,425	15,113	35,863	46,045
Common stock warrants	21,071	19,880	36,556	30,252

Convertible senior notes	26,738	20,305	25,532	20,305
Unvested shares	616	782	685	718
Employee stock purchase plan	268	189	897	217
Total anti-dilutive securities	58,118	56,269	99,533	97,537

COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Lease Expense Components and Other Information Related to Leases

The components of lease expense for the periods presented were as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Fixed operating lease costs	$	18,439	$	7,449	$	50,782	$	21,626
Variable operating lease costs	3,286		1,646		12,297		3,871
Short term lease costs	1,660		620		5,437		1,438
Sublease income	(2,396)		(1,468)		(6,012)		(1,570)

Amortization of finance lease right-of-use assets	280		1,284		2,203		3,861

Total lease costs	$	21,269	$	9,531	$	64,707	$	29,226

Other information related to leases were as follows:


	September 30, 2020
Weighted Average Remaining Lease Term:
Operating leases	8.8 years
Finance leases	0.2 years
Weighted Average Discount Rate:
Operating leases	4	%
Finance leases	—	%

Cash flows related to leases were as follows (in thousands):


	Nine Months Ended September 30,
	2020		2019
Cash flows from operating activities:
Payments for operating lease liabilities	$	(29,950)	$	(24,580)
Cash flows from financing activities:
Principal payments on finance lease obligation	$	(2,203)	$	(3,860)
Supplemental Cash Flow Data:
Right-of-use assets obtained in exchange for operating lease obligations	$	321,245	$	31,013

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) and future minimum finance lease payments as of September 30, 2020 are as follows (in thousands):


	Finance		Operating
Year:
Remainder of 2020	$	242	$	14,652
2021	—		70,582
2022	—		72,208
2023	—		65,840
2024	—		46,850
Thereafter	—		274,794
Total	$	242	$	544,926
Less: amount representing interest	—		84,783
Less: leases executed but not yet commenced	—		6,571
Less: lease incentives	—		17,548
Total	$	242	$	436,024

Future Minimum Finance Lease Payments

Future minimum lease payments under non-cancelable operating leases (with initial lease terms in excess of one year) and future minimum finance lease payments as of September 30, 2020 are as follows (in thousands):


	Finance		Operating
Year:
Remainder of 2020	$	242	$	14,652
2021	—		70,582
2022	—		72,208
2023	—		65,840
2024	—		46,850
Thereafter	—		274,794
Total	$	242	$	544,926
Less: amount representing interest	—		84,783
Less: leases executed but not yet commenced	—		6,571
Less: lease incentives	—		17,548
Total	$	242	$	436,024

SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)

9 Months Ended

Sep. 30, 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):


	Three Months Ended September 30, 2020						Nine Months Ended September 30, 2020
	Cash App		Seller		Total		Cash App		Seller		Total
Revenue
Transaction-based revenue	$	80,721	$	844,573	$	925,294	$	162,197	$	2,203,770	$	2,365,967
Subscription and services-based revenue	354,110		93,412		447,522		818,991		271,041		1,090,032
Hardware revenue	—		27,294		27,294		—		67,291		67,291
Bitcoin revenue	1,633,764		—		1,633,764		2,815,318		—		2,815,318
Segment revenue	2,068,595		965,279		3,033,874		3,796,506		2,542,102		6,338,608
Segment gross profit	$	385,124	$	409,331	$	794,455	$	848,919	$	1,080,800	$	1,929,719


	Three Months Ended September 30, 2019						Nine Months Ended September 30, 2019
	Cash App		Seller		Total		Cash App		Seller		Total
Revenue
Transaction-based revenue	$	19,216	$	797,406	$	816,622	$	51,462	$	2,197,432	$	2,248,894
Subscription and services-based revenue	139,539		99,315		238,854		354,575		264,599		619,174
Hardware revenue	—		21,766		21,766		—		62,238		62,238
Bitcoin revenue	148,285		—		148,285		338,898		—		338,898
Segment revenue	307,040		918,487		1,225,527		744,935		2,524,269		3,269,204
Segment gross profit	$	123,490	$	363,884	$	487,374	$	313,642	$	1,011,595	$	1,325,237

Reconciliation of Revenue from Segments to Consolidated

The amounts in the table 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):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019

Total segment revenue	$	3,033,874	$	1,225,527	$	6,338,608	$	3,269,204
Caviar revenue	—		40,947		—		130,867
Total net revenue	$	3,033,874	$	1,266,474	$	6,338,608	$	3,400,071

Reconciliation of Total Segment Profit to Income before applicable Income Taxes

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Total segment gross profit	$	794,455	$	487,374	$	1,929,719	$	1,325,237
Add: Caviar gross profit	—		12,663		—		37,399
Total reported operating gross profit	794,455		500,037		1,929,719		1,362,636
Less: Product development	226,567		168,771		628,378		497,322
Less: Sales and marketing	348,463		149,467		781,094		439,601
Less: General and administrative	153,902		115,980		419,783		318,086
Less: Transaction and loan losses	15,198		32,722		161,684		94,827
Less: Amortization of acquired customer assets	983		1,003		2,778		3,591
Less: Interest expense, net	14,980		5,632		38,955		15,456
Less: Other expense (income), net	(784)		(5,541)		(20,513)		6,988
Income (loss) before applicable income taxes	$	35,146	$	32,003	$	(82,440)	$	(13,235)

Revenue by Geographic Area

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Revenue
United States	$	2,947,400	$	1,200,488	$	6,126,971	$	3,233,432
International	86,474		65,986		211,637		166,639
Total net revenue	$	3,033,874	$	1,266,474	$	6,338,608	$	3,400,071

Long-lived Assets by Geographic Area

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


	September 30, 2020		December 31, 2019
Long-lived assets
United States	$	998,115	$	586,702
International	56,187		11,064
Total long-lived assets	$	1,054,302	$	597,766

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

9 Months Ended

Sep. 30, 2020

Supplemental Cash Flow Elements [Abstract]

Schedule of Cash and Cash Equivalents

The supplemental disclosures of cash flow information consist of the following (in thousands):


	Nine Months Ended September 30,
	2020		2019
Analysis of cash, cash equivalents, and restricted cash
Cash and cash equivalents	$	2,118,808	$	612,048
Short-term restricted cash	27,556		27,389
Long-term restricted cash	13,702		14,433
Cash, cash equivalents, and restricted cash	$	2,160,066	$	653,870

Restrictions on Cash and Cash Equivalents

The supplemental disclosures of cash flow information consist of the following (in thousands):


	Nine Months Ended September 30,
	2020		2019
Analysis of cash, cash equivalents, and restricted cash
Cash and cash equivalents	$	2,118,808	$	612,048
Short-term restricted cash	27,556		27,389
Long-term restricted cash	13,702		14,433
Cash, cash equivalents, and restricted cash	$	2,160,066	$	653,870

Schedule of Cash Flow, Supplemental Disclosures


	Nine Months Ended September 30,
	2020		2019
Supplemental Cash Flow Data:
Cash paid for interest	$	3,665	$	3,377
Cash paid for income taxes	4,452		2,266
Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease obligations	321,245		31,013
Change in purchases of property and equipment in accounts payable and accrued expenses	(4,207)		11,402
Unpaid business combination purchase price	8,974		8,411

Fair value of common stock issued and issuable in future related to business combination	(35,318)		—
Recovery of common stock in connection with indemnification settlement agreement	—		789
Fair value of common stock issued to settle the conversion of senior notes, due 2022	(323,891)		—

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2020 segment customer	Sep. 30, 2019 customer	Jun. 30, 2020 segment	Sep. 30, 2020 third_party_processor customer	Sep. 30, 2019 customer	Dec. 31, 2019 third_party_processor
Concentration Risk [Line Items]
Number of reportable segments \| segment	2		1
Minimum
Concentration Risk [Line Items]
Settlements receivable period				1 day
Maximum
Concentration Risk [Line Items]
Settlements receivable period				2 days
Revenue Benchmark \| Customer Concentration Risk
Concentration Risk [Line Items]
Number of customers accounting for greater than 10% of total net revenue \| customer	0	0		0	0
Settlements Receivable \| Credit Concentration Risk
Concentration Risk [Line Items]
Number of third party processors \| third_party_processor				2		3
Settlements Receivable \| Credit Concentration Risk \| Third Party Processor One
Concentration Risk [Line Items]
Concentration risk				52.00%		48.00%
Settlements Receivable \| Credit Concentration Risk \| Third Party Processor Two
Concentration Risk [Line Items]
Concentration risk				36.00%		29.00%
Settlements Receivable \| Credit Concentration Risk \| Third Party Processor Three
Concentration Risk [Line Items]
Concentration risk						9.00%

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Transaction-based revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 925,294	$ 816,622	$ 2,365,967	$ 2,248,894
Subscription and services-based revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	432,394	239,895	1,017,040	645,588
Revenues from other sources	15,128	39,906	72,992	104,453
Hardware revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	27,294	21,766	67,291	62,238
Bitcoin revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 1,633,764	$ 148,285	$ 2,815,318	$ 338,898

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

REVENUE - Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Movement in Deferred Revenue [Roll Forward]
Deferred revenue, beginning of the period	$ 51,549	$ 44,812	$ 44,331	$ 36,451
Deferred revenue, end of the period	53,166	45,263	53,166	45,263
Deferred revenue arising from business combination	800	0	800	0
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period	$ 17,560	$ 12,656	$ 33,885	$ 28,280

INVESTMENTS IN DEBT SECURITIES - Short-Term and Long-Term Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,158,420
Fair Value	1,161,556
Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	760,203	$ 490,299
Gross Unrealized Gains	3,602	2,229
Gross Unrealized Losses	(1,371)	(72)
Fair Value	762,434	492,456
Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	398,217	533,853
Gross Unrealized Gains	2,871	3,968
Gross Unrealized Losses	(1,966)	(518)
Fair Value	399,122	537,303
U.S. agency securities \| Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	184,330	131,124
Gross Unrealized Gains	931	409
Gross Unrealized Losses	(490)	(11)
Fair Value	184,771	131,522
U.S. agency securities \| Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	154,059	63,645
Gross Unrealized Gains	758	612
Gross Unrealized Losses	(575)	(189)
Fair Value	154,242	64,068
Corporate bonds \| Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	87,137	67,169
Gross Unrealized Gains	296	580
Gross Unrealized Losses	(208)	(28)
Fair Value	87,225	67,721
Corporate bonds \| Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	148,437	141,307
Gross Unrealized Gains	1,158	1,832
Gross Unrealized Losses	(319)	(61)
Fair Value	149,276	143,078
Commercial paper \| Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,999
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	4,999
Municipal securities \| Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,965	6,667
Gross Unrealized Gains	67	109
Gross Unrealized Losses	(35)	0
Fair Value	9,997	6,776
Municipal securities \| Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,870	9,594
Gross Unrealized Gains	40	151
Gross Unrealized Losses	(91)	(39)
Fair Value	2,819	9,706
U.S. government securities \| Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	410,310	264,069
Gross Unrealized Gains	1,921	1,083
Gross Unrealized Losses	(571)	(17)
Fair Value	411,660	265,135
U.S. government securities \| Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	81,928	294,682
Gross Unrealized Gains	758	1,287
Gross Unrealized Losses	(897)	(190)
Fair Value	81,789	295,779
Foreign government securities \| Short-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	63,462	21,270
Gross Unrealized Gains	387	48
Gross Unrealized Losses	(67)	(16)
Fair Value	63,782	21,302
Foreign government securities \| Long-term debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,923	24,625
Gross Unrealized Gains	157	86
Gross Unrealized Losses	(84)	(39)
Fair Value	$ 10,996	$ 24,672

INVESTMENTS IN DEBT SECURITIES - Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Short-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	$ 131,087	$ 64,383
Less than 12 Months, Gross Unrealized Losses	(1,371)	(60)
Greater than 12 months, Fair Value	0	22,482
Greater than 12 months, Gross Unrealized Losses	0	(12)
Total, Fair Value	131,087	86,865
Total, Gross Unrealized Losses	(1,371)	(72)
Short-term debt securities \| U.S. agency securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	58,213	23,896
Less than 12 Months, Gross Unrealized Losses	(490)	(9)
Greater than 12 months, Fair Value	0	4,996
Greater than 12 months, Gross Unrealized Losses	0	(2)
Total, Fair Value	58,213	28,892
Total, Gross Unrealized Losses	(490)	(11)
Short-term debt securities \| Corporate bonds
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	26,072	5,507
Less than 12 Months, Gross Unrealized Losses	(208)	(27)
Greater than 12 months, Fair Value	0	2,502
Greater than 12 months, Gross Unrealized Losses	0	(1)
Total, Fair Value	26,072	8,009
Total, Gross Unrealized Losses	(208)	(28)
Short-term debt securities \| Municipal securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	4,118
Less than 12 Months, Gross Unrealized Losses	(35)
Greater than 12 months, Fair Value	0
Greater than 12 months, Gross Unrealized Losses	0
Total, Fair Value	4,118
Total, Gross Unrealized Losses	(35)
Short-term debt securities \| U.S. government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	17,399	21,481
Less than 12 Months, Gross Unrealized Losses	(571)	(8)
Greater than 12 months, Fair Value	0	14,984
Greater than 12 months, Gross Unrealized Losses	0	(9)
Total, Fair Value	17,399	36,465
Total, Gross Unrealized Losses	(571)	(17)
Short-term debt securities \| Foreign government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	25,285	13,499
Less than 12 Months, Gross Unrealized Losses	(67)	(16)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	25,285	13,499
Total, Gross Unrealized Losses	(67)	(16)
Long-term debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	67,587	93,046
Less than 12 Months, Gross Unrealized Losses	(1,966)	(490)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	(28)
Total, Fair Value	67,587	93,046
Total, Gross Unrealized Losses	(1,966)	(518)
Long-term debt securities \| U.S. agency securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	15,642	16,740
Less than 12 Months, Gross Unrealized Losses	(575)	(189)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	15,642	16,740
Total, Gross Unrealized Losses	(575)	(189)
Long-term debt securities \| Corporate bonds
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	51,021	16,708
Less than 12 Months, Gross Unrealized Losses	(319)	(61)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	51,021	16,708
Total, Gross Unrealized Losses	(319)	(61)
Long-term debt securities \| Municipal securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	577	1,005
Less than 12 Months, Gross Unrealized Losses	(91)	(39)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	577	1,005
Total, Gross Unrealized Losses	(91)	(39)
Long-term debt securities \| U.S. government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	0	42,210
Less than 12 Months, Gross Unrealized Losses	(897)	(162)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	(28)
Total, Fair Value	0	42,210
Total, Gross Unrealized Losses	(897)	(190)
Long-term debt securities \| Foreign government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	347	16,383
Less than 12 Months, Gross Unrealized Losses	(84)	(39)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	347	16,383
Total, Gross Unrealized Losses	$ (84)	$ (39)

INVESTMENTS IN DEBT SECURITIES - Contractual Maturities of Short-Term and Long-Term Investments (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Amortized Cost
Due in one year or less	$ 760,203
Due in one to five years	398,217
Amortized Cost	1,158,420
Fair Value
Due in one year or less	762,434
Due in one to five years	399,122
Fair Value	$ 1,161,556

CUSTOMER FUNDS - Assets Underlying Customer Funds (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Customer funds	$ 1,850,963	$ 676,292
U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Customer funds	106,855	0
U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Customer funds	419,078	238,031
Cash
Debt Securities, Available-for-sale [Line Items]
Customer funds	146,422	422,459
Cash Equivalents \| Money market funds
Debt Securities, Available-for-sale [Line Items]
Customer funds	1,024,277	233
Cash Equivalents \| Reverse repurchase agreement
Debt Securities, Available-for-sale [Line Items]
Customer funds	75,038	0
Cash Equivalents \| U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Customer funds	0	8,585
Cash Equivalents \| U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Customer funds	$ 79,293	$ 6,984

CUSTOMER FUNDS - Investments within Customer Funds (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,158,420
Fair Value	1,161,556
Customer funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	525,872	$ 237,909
Gross Unrealized Gains	206	144
Gross Unrealized Losses	(145)	(22)
Fair Value	525,933	238,031
Customer funds \| U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	106,799
Gross Unrealized Gains	56
Gross Unrealized Losses	0
Fair Value	106,855
Customer funds \| U.S. government securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	419,073	237,909
Gross Unrealized Gains	150	144
Gross Unrealized Losses	(145)	(22)
Fair Value	$ 419,078	$ 238,031

CUSTOMER FUNDS - Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - Customer funds - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	$ 65,567	$ 56,984
Less than 12 Months, Gross Unrealized Losses	(145)	(22)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	65,567	56,984
Total, Gross Unrealized Losses	(145)	(22)
U.S. government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Less than 12 Months, Fair Value	65,567	56,984
Less than 12 Months, Gross Unrealized Losses	(145)	(22)
Greater than 12 months, Fair Value	0	0
Greater than 12 months, Gross Unrealized Losses	0	0
Total, Fair Value	65,567	56,984
Total, Gross Unrealized Losses	$ (145)	$ (22)

CUSTOMER FUNDS - Contractual Maturities of Short-Term and Long-Term Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Amortized Cost
Due in one year or less	$ 760,203
Due in one to five years	398,217
Amortized Cost	1,158,420
Fair Value
Due in one year or less	762,434
Due in one to five years	399,122
Fair Value	1,161,556
Customer funds
Amortized Cost
Due in one year or less	525,872
Due in one to five years	0
Amortized Cost	525,872	$ 237,909
Fair Value
Due in one year or less	525,933
Due in one to five years	0
Fair Value	$ 525,933	$ 238,031

FAIR VALUE OF FINANCIAL INSTRUMENTS - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	$ 1,850,963	$ 676,292
Short-term debt securities	762,434	492,456
Long-term debt securities	399,122	537,303
U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	106,855	0
U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	419,078	238,031
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	3,011,751	1,066,652
Fair Value, Measurements, Recurring \| Level 1 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	891,973	213,576
Customer funds	1,024,277	233
Fair Value, Measurements, Recurring \| Level 1 \| U.S. agency securities
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
Fair Value, Measurements, Recurring \| Level 1 \| Municipal securities
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
Fair Value, Measurements, Recurring \| Level 1 \| Reverse repurchase agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	75,038	0
Fair Value, Measurements, Recurring \| Level 1 \| Corporate bonds
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
Fair Value, Measurements, Recurring \| Level 1 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Fair Value, Measurements, Recurring \| Level 1 \| U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	28,643	46,914
Customer funds	498,371	245,015
Short-term debt securities	411,660	265,135
Long-term debt securities	81,789	295,779
Fair Value, Measurements, Recurring \| Level 1 \| Foreign government securities
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
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	799,961	497,406
Fair Value, Measurements, Recurring \| Level 2 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer funds	0	0
Fair Value, Measurements, Recurring \| Level 2 \| U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	24,999	19,976
Customer funds	106,855	8,585
Short-term debt securities	184,771	131,522
Long-term debt securities	154,242	64,068
Fair Value, Measurements, Recurring \| Level 2 \| Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	9,997	6,776
Long-term debt securities	2,819	9,706
Fair Value, Measurements, Recurring \| Level 2 \| Reverse repurchase agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	0	0
Fair Value, Measurements, Recurring \| Level 2 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	87,225	67,721
Long-term debt securities	149,276	143,078
Fair Value, Measurements, Recurring \| Level 2 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	4,999	0
Fair Value, Measurements, Recurring \| Level 2 \| U.S. government securities
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
Fair Value, Measurements, Recurring \| Level 2 \| Foreign government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	63,782	21,302
Long-term debt securities	10,996	24,672
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Fair Value, Measurements, Recurring \| Level 3 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	0	0
Customer funds	0	0
Fair Value, Measurements, Recurring \| Level 3 \| U.S. agency securities
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
Fair Value, Measurements, Recurring \| Level 3 \| Municipal securities
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
Fair Value, Measurements, Recurring \| Level 3 \| Reverse repurchase agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer funds	0	0
Fair Value, Measurements, Recurring \| Level 3 \| Corporate bonds
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
Fair Value, Measurements, Recurring \| Level 3 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term debt securities	0	0
Fair Value, Measurements, Recurring \| Level 3 \| U.S. government securities
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
Fair Value, Measurements, Recurring \| Level 3 \| Foreign government securities
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

FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value and Carrying Value of Convertible Senior Notes (Details) - Level 2 - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes	$ 1,758,611	$ 938,832
Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes	4,421,411	1,541,333
2025 Notes \| Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes	850,524	0
2025 Notes \| Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes	1,522,040	0
2023 Notes \| Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes	772,037	748,564
2023 Notes \| Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes	1,862,207	962,516
2022 Notes \| Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes	136,050	190,268
2022 Notes \| Fair Value (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes	$ 1,037,164	$ 578,817

FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value and Carrying Value of Loans Held for Sale (Details) - Level 3 - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	$ 524,173	$ 164,834
Fair Value (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	$ 532,625	$ 173,360

FAIR VALUE OF FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Level 3 \| Carrying Value \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of loans held for sale	$ 524,173		$ 524,173		$ 164,834
Level 3 \| Carrying Value \| Fair Value, Measurements, Recurring \| Small Business Administration (SBA), Paycheck Protection Program, CARES Act
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of loans held for sale	462,100		462,100
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	$ 3,200	$ 5,300	$ 25,700	$ 18,400

PROPERTY AND EQUIPMENT, NET - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 412,114		$ 412,114		$ 327,723
Less: Accumulated depreciation and amortization	(216,177)		(216,177)		(178,529)
Property and equipment, net	195,937		195,937		149,194
Depreciation and amortization expense on property and equipment	15,400	$ 15,300	48,200	$ 45,600
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	152,917		152,917		111,942
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	118,533		118,533		106,469
Capitalized software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	108,213		108,213		81,984
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 32,451		$ 32,451		$ 27,328

PROPERTY AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense on property and equipment	$ 15.4	$ 15.3	$ 48.2	$ 45.6
Finance leased assets, before accumulated depreciation	16.0		16.0		$ 13.1
Finance leased assets, accumulated amortization	$ 12.9		$ 12.9		$ 10.7

ACQUISITIONS (Details) - USD ($)	9 Months Ended
ACQUISITIONS (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 300,620,000	$ 266,345,000
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Fair value of consideration transferred	76,400,000
Cash consideration	41,100,000
Equity consideration	35,300,000
Goodwill	34,000,000.0
Intangible assets, other than goodwill	51,100,000
Goodwill amount expected to be tax deductible	0
Intangible assets (excluding goodwill) amount expected to be tax deductible	$ 0

GOODWILL - Schedule of Change in Carrying Value of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 266,345
Acquisitions	33,984
Other adjustments	291
Goodwill, ending balance	$ 300,620

GOODWILL - Narrative (Details)	3 Months Ended	6 Months Ended
GOODWILL - Narrative (Details)	Sep. 30, 2020 USD ($) segment	Jun. 30, 2020 USD ($) segment	Dec. 31, 2019 USD ($)
Goodwill [Line Items]
Number of reportable segments \| segment	2	1
Number of operating segments \| segment	2
Goodwill	$ 300,620,000		$ 266,345,000
Goodwill, impairment charges		$ 0
Seller
Goodwill [Line Items]
Goodwill	187,900,000	183,400,000
Cash App
Goodwill [Line Items]
Goodwill	$ 112,700,000	$ 112,400,000

ACQUIRED INTANGIBLE ASSETS - Schedule of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Jun. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 166,508	$ 114,499
Accumulated Amortization	(58,946)	(45,420)
Net	$ 107,562	$ 69,079	$ 99,802	$ 72,793	$ 84,216	$ 77,102
Technology assets
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period	6 years	5 years
Cost	$ 94,152	$ 53,900
Accumulated Amortization	(39,547)	(31,873)
Net	$ 54,605	$ 22,027
Customer assets
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period	12 years	12 years
Cost	$ 48,372	$ 44,000
Accumulated Amortization	(9,712)	(6,934)
Net	$ 38,660	$ 37,066
Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period	6 years	4 years
Cost	$ 18,269	$ 11,300
Accumulated Amortization	(7,054)	(4,473)
Net	$ 11,215	$ 6,827
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period	8 years	8 years
Cost	$ 5,715	$ 5,299
Accumulated Amortization	(2,633)	(2,140)
Net	$ 3,082	$ 3,159

ACQUIRED INTANGIBLE ASSETS - Narrative (Details)	9 Months Ended
ACQUIRED INTANGIBLE ASSETS - Narrative (Details)	Sep. 30, 2020 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets impairment	$ 0

ACQUIRED INTANGIBLE ASSETS - Change in Carrying Value of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Finite-lived Intangible Assets [Roll Forward]
Acquired intangible assets, net, beginning of the period	$ 99,802	$ 84,216	$ 69,079	$ 77,102
Acquisitions	12,100	0	51,109	14,559
Amortization expense	(5,236)	(3,841)	(13,522)	(11,286)
Transfer to assets held for sale	0	(7,582)	0	(7,582)
Other Adjustments	896	0	896	0
Acquired intangible assets, net, end of the period	$ 107,562	$ 72,793	$ 107,562	$ 72,793

ACQUIRED INTANGIBLE ASSETS - Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2020	$ 5,277
2021	20,595
2022	18,521
2023	17,270
2024	14,292
Thereafter	31,607
Net	$ 107,562	$ 99,802	$ 69,079	$ 72,793	$ 84,216	$ 77,102

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Inventory, net	$ 70,422	$ 47,683
Restricted cash	27,556	38,873	$ 27,389
Processing costs receivable	147,021	67,281
Prepaid expenses	25,430	22,758
Accounts receivable, net	39,612	33,863
Other	78,065	39,951
Total	$ 388,106	$ 250,409

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Loss Contingencies [Line Items]
Accrued expenses	$ 146,485			$ 146,485		$ 128,387
Square Payroll payable	42,246			42,246		27,969
Accrued transaction losses	86,935			86,935		34,771
Accounts payable	36,384			36,384		42,116
Deferred revenue, current	46,098			46,098		38,104
Other	69,238			69,238		26,494
Total	427,386			427,386		$ 297,841
Transaction Losses
Loss Contingencies [Line Items]
Previously established risk loss provisions released	17,577	$ 20,436	$ 39,600	55,360	$ 56,486
Provisions for transaction losses realized and written-off within the same period	$ 103,900	$ 17,300		$ 200,900	$ 67,300

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Reserve for Transaction Losses (Details) - Transaction Losses - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Loss Contingency Accrual [Roll Forward]
Accrued transaction losses, beginning of the period	$ 109,061	$ 39,630	$ 34,771	$ 34,771	$ 33,682
Provision for transaction losses	(4,549)	18,225		107,524	60,223
Charge-offs to accrued transaction losses	(17,577)	(20,436)	(39,600)	(55,360)	(56,486)
Accrued transaction losses, end of the period	$ 86,935	$ 37,419	$ 109,061	$ 86,935	$ 37,419

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) - Other Non-Current Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Investment in non-marketable equity securities		$ 130,999	$ 110,000
Non-current lease prepayments		0	45,738
Restricted cash		13,702	12,715	$ 14,433
Other		24,881	27,935
Total		$ 169,582	$ 196,388
Gain recognized for observable price changes	$ 21,000

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Statutory liabilities	$ 69,010	$ 54,762
Deferred revenue, non-current	7,068	6,227
Other	6,058	33,472
Total	$ 82,136	$ 94,461

INDEBTEDNESS - Facility Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
INDEBTEDNESS - Facility Narrative (Details) - USD ($)	May 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 02, 2020	May 28, 2020	Dec. 31, 2019	Nov. 30, 2015
Debt Instrument [Line Items]
PPP Liquidity Facility advances		$ 473,496,000		$ 473,496,000				$ 0
Line of Credit \| Paycheck Protection Program Liquidity Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 500,000,000.0	$ 500,000,000.0
PPP Liquidity Facility advances		473,500,000		473,500,000
Revolving Credit Facility \| Line of Credit \| 2015 Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity									$ 375,000,000.0
Revolving Credit Facility \| Line of Credit \| 2020 Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 500,000,000.0
Amounts drawn to date		0		0
Letters of credit outstanding		0		0
Unused commitment fee percentage	0.15%
Unused commitment fees		$ 200,000	$ 100,000	$ 500,000	$ 400,000
Revolving Credit Facility \| Line of Credit \| Federal Funds Rate \| 2020 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility \| Line of Credit \| LIBOR \| 2020 Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Revolving 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 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%

INDEBTEDNESS - Convertible Senior Notes Narrative (Details) $ / shares in Units, shares in Millions				9 Months Ended		33 Months Ended
	Mar. 05, 2020 USD ($) day $ / shares	May 25, 2018 USD ($) day $ / shares	Mar. 06, 2017 USD ($) day $ / shares	Sep. 30, 2020 USD ($) shares	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) shares	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of long-term debt				$ 2,393,000	$ 0
Convertible Debt
Debt Instrument [Line Items]
Conversion price (in USD per share) \| $ / shares	$ 121.01	$ 77.85	$ 22.95
Carrying amount of equity component				334,118,000		$ 334,118,000	$ 194,392,000
Issuance costs attributable to the liability component				15,668,000		15,668,000	5,564,000
Convertible Debt \| 2025 Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,000,000,000.0
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
Effective interest rate of the liability component	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	$ 12,800,000			$ 11,958,000		$ 11,958,000
Amount of if-converted value in excess of outstanding principal amount				343,300,000
Convertible Debt \| 2025 Notes \| Debt Instrument, Conversion Term One
Debt Instrument [Line Items]
Threshold trading days \| day	20
Threshold consecutive trading days \| day	30
Threshold percentage of stock price trigger	130.00%
Convertible Debt \| 2025 Notes \| Debt Instrument Conversion Term Two
Debt Instrument [Line Items]
Threshold trading days \| day	5
Threshold consecutive trading days \| day	5
Threshold percentage of stock price trigger	98.00%
Convertible Debt \| 2023 Notes
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
Effective interest rate of the liability component		4.69%		4.69%		4.69%
Discounts and commissions payable		$ 6,000,000.0
Third party offering costs		800,000
Issuance costs attributable to the liability component		$ 5,600,000		$ 2,714,000		$ 2,714,000	3,418,000
Amount of if-converted value in excess of outstanding principal amount				938,400,000
Convertible Debt \| 2023 Notes \| Debt Instrument, Conversion Term One
Debt Instrument [Line Items]
Threshold trading days \| day		20
Threshold consecutive trading days \| day		30
Threshold percentage of stock price trigger		130.00%
Convertible Debt \| 2023 Notes \| Debt Instrument Conversion Term Two
Debt Instrument [Line Items]
Threshold trading days \| day		5
Threshold consecutive trading days \| day		5
Threshold percentage of stock price trigger		98.00%
Convertible Debt \| 2022 Notes
Debt Instrument [Line Items]
Aggregate principal amount			$ 440,000,000.0
Interest rate			0.375%
Conversion rate			0.0435749
Conversion price (in USD per share) \| $ / shares			$ 22.95
Carrying amount of equity component			$ 86,200,000	$ 27,841,000		$ 27,841,000	40,373,000
Effective interest rate of the liability component			5.34%	5.34%		5.34%
Discounts and commissions payable			$ 11,000,000.0
Third party offering costs			800,000
Issuance costs attributable to the liability component			$ 9,400,000	$ 996,000		$ 996,000	$ 2,146,000
Notes converted				$ 65,700,000		294,000,000.0
Principal payment on conversion of senior notes						$ 219,400,000
Shares issued upon conversion (in shares) \| shares				2.9		10.2
Loss on extinguishment of long-term debt				$ 2,400,000		$ 7,400,000
Amount of if-converted value in excess of outstanding principal amount				$ 888,200,000
Convertible Debt \| 2022 Notes \| Debt Instrument, Conversion Term One
Debt Instrument [Line Items]
Threshold trading days \| day			20
Threshold consecutive trading days \| day			30
Threshold percentage of stock price trigger			130.00%
Convertible Debt \| 2022 Notes \| Debt Instrument Conversion Term Two
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 Amount of Convertible Notes (Details) - Convertible Debt - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 05, 2020	Dec. 31, 2019	May 25, 2018	Mar. 06, 2017
Debt Instrument [Line Items]
Principal outstanding	$ 2,008,507		$ 1,074,226
Unamortized debt discount	(234,228)		(129,830)
Unamortized debt issuance costs	(15,668)		(5,564)
Net carrying value	1,758,611		938,832
2025 Notes
Debt Instrument [Line Items]
Principal outstanding	1,000,000
Unamortized debt discount	(137,518)
Unamortized debt issuance costs	(11,958)	$ (12,800)
Net carrying value	850,524
2023 Notes
Debt Instrument [Line Items]
Principal outstanding	862,500		862,500
Unamortized debt discount	(87,749)		(110,518)
Unamortized debt issuance costs	(2,714)		(3,418)	$ (5,600)
Net carrying value	772,037		748,564
2022 Notes
Debt Instrument [Line Items]
Principal outstanding	146,007		211,726
Unamortized debt discount	(8,961)		(19,312)
Unamortized debt issuance costs	(996)		(2,146)		$ (9,400)
Net carrying value	$ 136,050		$ 190,268

INDEBTEDNESS - Net Carrying Amount of Equity Component of Convertible Notes (Details) - Convertible Debt - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 05, 2020	Dec. 31, 2019	May 25, 2018	Mar. 06, 2017
Debt Instrument [Line Items]
Amount allocated to conversion option	$ 338,455		$ 196,731
Less: allocated issuance costs	(4,337)		(2,339)
Equity component, net	334,118		194,392
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	28,605		41,481
Less: allocated issuance costs	(764)		(1,108)
Equity component, net	$ 27,841		$ 40,373		$ 86,200

INDEBTEDNESS - Interest Expense on Convertible Notes (Details) - Convertible Debt - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Contractual interest expense	$ 1,544	$ 1,277	$ 4,482	$ 3,831
Amortization of debt discount and issuance costs	17,516	9,843	47,624	29,176
Total	$ 19,060	$ 11,120	$ 52,106	$ 33,007

INDEBTEDNESS - Convertible Note Hedge and Warrant Transactions (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands				9 Months Ended		43 Months Ended
	Mar. 05, 2020	May 25, 2018	Mar. 06, 2017	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020
Debt Instrument [Line Items]
Proceeds from issuance of warrants				$ 99,500	$ 0
Convertible Debt
Debt Instrument [Line Items]
Conversion price of convertible debt (in USD per share)	$ 121.01	$ 77.85	$ 22.95
Conversion price of convertible debt after effect of warrants and note hedge (in USD per share)	$ 161.34	$ 109.26	$ 31.18
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
Warrants, weighted average exercise price (in USD per share)		$ 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 of common stock received due to exercise of note hedges (in shares)				700		7,900
Options Held
Debt Instrument [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)	8,260	11,100	19,200
Convertible note hedge, option to purchase common stock, price (in USD per share)	$ 121.01	$ 77.85	$ 22.95
Cost of convertible note hedge	$ 149,200	$ 172,600	$ 92,100

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (1,369)	$ 2,606	$ (1,586)	$ 2,259

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

STOCKHOLDERS' EQUITY - Common Stock, Warrants and Conversion of 2022 Notes Narrative (Details)	9 Months Ended	33 Months Ended
	Sep. 30, 2020 vote $ / shares shares	Sep. 30, 2020 $ / shares shares	Mar. 05, 2020 $ / shares shares	Dec. 31, 2019 $ / shares shares	May 25, 2018 $ / shares shares	Mar. 06, 2017 $ / shares shares
2022 Notes \| Convertible Debt
Class of Stock [Line Items]
Shares issued upon conversion (in shares)	2,900,000	10,200,000
Common Stock Warrant, 2025 Notes
Class of Stock [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)			8,260,000
Warrants, weighted average exercise price (in USD per share) \| $ / shares			$ 161.34
Number of warrants exercised (in shares)	0	0
Common Stock Warrant, 2023 Notes
Class of Stock [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)					11,100,000
Warrants, weighted average exercise price (in USD per share) \| $ / shares					$ 109.26
Number of warrants exercised (in shares)	0	0
Common Stock Warrant, 2022 Notes
Class of Stock [Line Items]
Warrants to purchase aggregate shares of capital stock (in shares)						19,200,000
Warrants, weighted average exercise price (in USD per share) \| $ / shares						$ 31.18
Number of warrants exercised (in shares)	0	0
Class A
Class of Stock [Line Items]
Common stock, number of votes entitled for each share held (in votes) \| vote	1
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000		1,000,000,000
Common stock, par value (in USD per share) \| $ / shares	$ 0.0000001	$ 0.0000001		$ 0.0000001
Common stock, shares outstanding (in shares)	380,355,619	380,355,619		352,386,562
Class B
Class of Stock [Line Items]
Common stock, number of votes entitled for each share held (in votes) \| vote	10
Common stock, shares authorized (in shares)	500,000,000	500,000,000		500,000,000
Common stock, par value (in USD per share) \| $ / shares	$ 0.0000001	$ 0.0000001		$ 0.0000001
Common stock, shares outstanding (in shares)	67,339,578	67,339,578		80,410,158

STOCKHOLDERS' EQUITY - Stock Plans and Share Based Compensation Narrative (Details) $ in Thousands		3 Months Ended		9 Months Ended
	Nov. 17, 2015 shares	Sep. 30, 2020 USD ($) shares	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) plan shares	Sep. 30, 2019 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share based compensation plans \| plan				2
Employee stock purchase plan, compensation expense \| $		$ 110,389	$ 77,426	$ 283,872	$ 217,980
Capitalized share-based compensation expense \| $		3,800	2,400	9,500	6,000
Unrecognized compensation cost \| $		1,200,000		$ 1,200,000
Unrecognized compensation cost, period for recognition				2 years 9 months 18 days
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plan, compensation expense \| $		$ 3,300	$ 5,100	$ 12,100	$ 14,100
2009 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance (in shares)	0
2009 Stock Option Plan \| Stock options, RSAs, and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments outstanding (in shares)		10,776,196		10,776,196
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance (in shares)		97,989,842		97,989,842
Shares reserved for future issuance (in shares)	30,000,000
Shares reserved for future issuance, percentage of annual increase	5.00%
2015 Equity Incentive Plan \| Stock options, RSAs, and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments outstanding (in shares)		22,654,778		22,654,778
2015 Equity Incentive Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance, amount of annual increase (in shares)	40,000,000

STOCKHOLDERS' EQUITY - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2020
Number of Stock Options Outstanding
Beginning balance (in shares)	23,619,804
Granted (in shares)	1,538,109
Exercised (in shares)	(8,430,923)
Forfeited (in shares)	(340,594)
Ending balance (in shares)	16,386,396	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)	9.98
Forfeited (in USD per share)	61.20
Ending balance (in USD per share)	$ 12.66	$ 12.66	$ 17.40
Options Exercisable
Options exercisable (in shares)			14,389,236
Options exercisable (in USD per share)			$ 11.53
Additional Disclosures
Weighted average remaining contractual term, options outstanding	4 years 7 months 6 days	4 years 10 months 20 days
Weighted average remaining contractual term, options exercisable	4 years
Aggregate intrinsic value, options outstanding		$ 1,191,746	$ 2,378,524
Aggregate intrinsic value, options exercisable			$ 2,172,994

STOCKHOLDERS' EQUITY - Restricted Stock Awards and Restricted Stock Units Activity (Details) - RSAs and RSUs	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Number of shares
Beginning balance (in shares) \| shares	13,917,461
Granted (in shares) \| shares	9,740,495
Vested (in shares) \| shares	(5,521,432)
Forfeited (in shares) \| shares	(1,091,946)
Ending balance (in shares) \| shares	17,044,578
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share) \| $ / shares	$ 49.90
Granted (in USD per share) \| $ / shares	68.25
Vested (in USD per share) \| $ / shares	41.08
Forfeited (in USD per share) \| $ / shares	55.30
Ending balance (in USD per share) \| $ / shares	$ 62.93

STOCKHOLDERS' EQUITY - Effects of Share-Based Compensation on Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 110,389	$ 77,426	$ 283,872	$ 217,980
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	100	38	271	88
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	78,682	56,321	205,647	155,114
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	12,063	6,269	27,354	20,304
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 19,544	$ 14,798	$ 50,600	$ 42,474

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	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net income (loss)	$ 36,515	$ (11,478)	$ (105,891)	$ 29,397	$ (6,740)	$ (38,151)	$ (80,854)	$ (15,494)
Basic shares:
Weighted-average common shares outstanding (in shares)	445,074			427,906			440,540	423,957
Weighted-average unvested shares (in shares)	(616)			(782)			(685)	(718)
Weighted-average shares used to compute basic net income (loss) per share (in shares)	444,458			427,124			439,855	423,239
Diluted shares:
Stock options and restricted stock units (in shares)	25,861			28,549			0	0
Convertible senior notes (in shares)	0			0			0	0
Common stock warrants (in shares)	17,445			10,372			0	0
Employee stock purchase plan (in shares)	305			54			0	0
Weighted-average shares used to compute diluted net loss per share (in shares)	488,069			466,099			439,855	423,239
Net income (loss) per share:
Basic (in USD per share)	$ 0.08			$ 0.07			$ (0.18)	$ (0.04)
Diluted (in USD per share)	$ 0.07			$ 0.06			$ (0.18)	$ (0.04)

NET INCOME (LOSS) PER SHARE - Antidilutive Securities Excluded from Computation of Diluted Net Income (Loss) Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net income (loss) per share (in shares)	58,118	56,269	99,533	97,537
Stock options and restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net income (loss) per share (in shares)	9,425	15,113	35,863	46,045
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net income (loss) per share (in shares)	21,071	19,880	36,556	30,252
Convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net income (loss) per share (in shares)	26,738	20,305	25,532	20,305
Unvested shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net income (loss) per share (in shares)	616	782	685	718
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from calculation of diluted net income (loss) per share (in shares)	268	189	897	217

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Jul. 31, 2019
Related Party Transaction [Line Items]
Lease executed but not yet commenced, term			15 years 6 months
Lease executed but not yet commenced	$ 6,571		$ 42,700
Operating lease right-of-use assets	450,183	$ 113,148
Operating lease liability	436,024
Affiliated Entity \| Operating Lease Agreement
Related Party Transaction [Line Items]
Lease executed but not yet commenced, term			15 years 6 months
Lease executed but not yet commenced			$ 42,700
Operating lease right-of-use assets	18,300
Operating lease liability	$ 27,400

COMMITMENTS AND CONTINGENCIES - Operating and Finance Leases Narrative (Details) $ in Thousands	1 Months Ended		9 Months Ended
	Jul. 31, 2019 USD ($) ft² renewal_option	Dec. 31, 2018 ft² renewal_option	Sep. 30, 2020 USD ($) renewal_option
Lessee, Lease, Description [Line Items]
Operating lease renewal term			5 years
Operating lease option to terminate term			1 year
Leased area of office space executed but not yet commenced (in sq ft) \| ft²	226,158
Lease executed but not yet commenced, term	15 years 6 months
Lease executed but not yet commenced, number of renewal options	2
Lease executed but not yet commenced renewal term	5 years
Lease executed but not yet commenced \| $	$ 42,700		$ 6,571
Minimum
Lessee, Lease, Description [Line Items]
Operating lease remaining term			1 year
Operating lease, number of renewal options			1
Maximum
Lessee, Lease, Description [Line Items]
Operating lease remaining term			12 years
Lease executed but not yet commenced, option to terminate leased space (up to)	50.00%
Equipment
Lessee, Lease, Description [Line Items]
Finance lease, remaining lease term			2 months 12 days
Oakland, California \| Building
Lessee, Lease, Description [Line Items]
Operating lease, number of renewal options		2
Operating lease renewal term		5 years
Leased area of office space (in sq ft) \| ft²		355,762
Operating lease term		12 years

COMMITMENTS AND CONTINGENCIES - Lease Expense Components (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Fixed operating lease costs	$ 18,439	$ 7,449	$ 50,782	$ 21,626
Variable operating lease costs	3,286	1,646	12,297	3,871
Short term lease costs	1,660	620	5,437	1,438
Sublease income	(2,396)	(1,468)	(6,012)	(1,570)
Amortization of finance lease right-of-use assets	280	1,284	2,203	3,861
Total lease costs	$ 21,269	$ 9,531	$ 64,707	$ 29,226

COMMITMENTS AND CONTINGENCIES - Other Information Related to Leases (Details)	Sep. 30, 2020
Weighted Average Remaining Lease Term:
Operating leases	8 years 9 months 18 days
Finance leases	2 months 12 days
Weighted Average Discount Rate:
Operating leases	4.00%
Finance leases	0.00%

COMMITMENTS AND CONTINGENCIES - Cash Flows Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Payments for operating lease liabilities	$ (29,950)	$ (24,580)
Cash flows from financing activities:
Principal payments on finance lease obligation	(2,203)	(3,860)
Supplemental Cash Flow Data:
Right-of-use assets obtained in exchange for operating lease obligations	$ 321,245	$ 31,013

COMMITMENTS AND CONTINGENCIES - Future Minimum Lease Payments Under Non-Cancelable Operating Leases and Finance Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jul. 31, 2019
Finance
Remainder of 2020	$ 242
2021	0
2022	0
2023	0
2024	0
Thereafter	0
Total	242
Less: amount representing interest	0
Less: leases executed but not yet commenced	0
Less: lease incentives	0
Total	242
Operating
Remainder of 2020	14,652
2021	70,582
2022	72,208
2023	65,840
2024	46,850
Thereafter	274,794
Total	544,926
Less: amount representing interest	84,783
Less: leases executed but not yet commenced	6,571	$ 42,700
Less: lease incentives	17,548
Total	$ 436,024

COMMITMENTS AND CONTINGENCIES - Other Contingencies Narrative (Details) $ in Millions	Jun. 15, 2020 USD ($)
TEXAS
Income Tax Examination [Line Items]
Estimate of possible liability for additional taxes, interest and penalties	$ 38.0

SEGMENT AND GEOGRAPHICAL INFORMATION - Narrative (Details) - segment	3 Months Ended	6 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Segment Reporting [Abstract]
Number of reportable segments	2	1
Number of operating segments	2

SEGMENT AND GEOGRAPHICAL INFORMATION - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 3,033,874	$ 1,266,474	$ 6,338,608	$ 3,400,071
Gross profit	794,455	500,037	1,929,719	1,362,636
Operating Segments
Segment Reporting Information [Line Items]
Revenue	3,033,874	1,225,527	6,338,608	3,269,204
Gross profit	794,455	487,374	1,929,719	1,325,237
Cash App \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	2,068,595	307,040	3,796,506	744,935
Gross profit	385,124	123,490	848,919	313,642
Seller \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	965,279	918,487	2,542,102	2,524,269
Gross profit	409,331	363,884	1,080,800	1,011,595
Transaction-based revenue
Segment Reporting Information [Line Items]
Revenue	925,294	816,622	2,365,967	2,248,894
Transaction-based revenue \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	925,294	816,622	2,365,967	2,248,894
Transaction-based revenue \| Cash App \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	80,721	19,216	162,197	51,462
Transaction-based revenue \| Seller \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	844,573	797,406	2,203,770	2,197,432
Subscription and services-based revenue
Segment Reporting Information [Line Items]
Revenue	432,394	239,895	1,017,040	645,588
Revenue	447,522	279,801	1,090,032	750,041
Subscription and services-based revenue \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	447,522	238,854	1,090,032	619,174
Subscription and services-based revenue \| Cash App \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	354,110	139,539	818,991	354,575
Subscription and services-based revenue \| Seller \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	93,412	99,315	271,041	264,599
Hardware revenue
Segment Reporting Information [Line Items]
Revenue	27,294	21,766	67,291	62,238
Hardware revenue \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	27,294	21,766	67,291	62,238
Hardware revenue \| Cash App \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Hardware revenue \| Seller \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	27,294	21,766	67,291	62,238
Bitcoin revenue
Segment Reporting Information [Line Items]
Revenue	1,633,764	148,285	2,815,318	338,898
Bitcoin revenue \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	1,633,764	148,285	2,815,318	338,898
Bitcoin revenue \| Cash App \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	1,633,764	148,285	2,815,318	338,898
Bitcoin revenue \| Seller \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0	$ 0	$ 0

SEGMENT AND GEOGRAPHICAL INFORMATION - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 3,033,874	$ 1,266,474	$ 6,338,608	$ 3,400,071
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	3,033,874	1,225,527	6,338,608	3,269,204
Segment Reconciling Items
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from contracts with customers	$ 0	$ 40,947	$ 0	$ 130,867

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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SEGMENT AND GEOGRAPHICAL INFORMATION - Reconciliation of Total Segment Profit to Income before applicable Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	$ 794,455	$ 500,037	$ 1,929,719	$ 1,362,636
Less: Product development	226,567	168,771	628,378	497,322
Less: Sales and marketing	348,463	149,467	781,094	439,601
Less: General and administrative	153,902	115,980	419,783	318,086
Less: Transaction and loan losses	15,198	32,722	161,684	94,827
Less: Amortization of acquired customer assets	5,236	3,841	13,522	11,286
Less: Interest expense, net	14,980	5,632	38,955	15,456
Less: Other expense (income), net	(784)	(5,541)	(20,513)	6,988
Income (loss) before income tax	35,146	32,003	(82,440)	(13,235)
Customer assets
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Less: Amortization of acquired customer assets	983	1,003	2,778	3,591
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	794,455	487,374	1,929,719	1,325,237
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	$ 0	$ 12,663	$ 0	$ 37,399

SEGMENT AND GEOGRAPHICAL INFORMATION - Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 3,033,874	$ 1,266,474	$ 6,338,608	$ 3,400,071
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	2,947,400	1,200,488	6,126,971	3,233,432
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 86,474	$ 65,986	$ 211,637	$ 166,639

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

SEGMENT AND GEOGRAPHICAL INFORMATION - Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 1,054,302	$ 597,766
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	998,115	586,702
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 56,187	$ 11,064

SUPPLEMENTAL CASH FLOW INFORMATION - Analysis of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 2,118,808	$ 1,047,118	$ 612,048
Short-term restricted cash	27,556	38,873	27,389
Long-term restricted cash	13,702	12,715	14,433
Cash, cash equivalents, and restricted cash	$ 2,160,066	$ 1,098,706	$ 653,870	$ 632,847

SUPPLEMENTAL CASH FLOW INFORMATION - Supplemental Cash Flow Data (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Supplemental Cash Flow Data:
Cash paid for interest	$ 3,665	$ 3,377
Cash paid for income taxes	4,452	2,266
Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease obligations	321,245	31,013
Change in purchases of property and equipment in accounts payable and accrued expenses	(4,207)	11,402
Unpaid business combination purchase price	8,974	8,411
Fair value of common stock issued and issuable in future related to business combination	(35,318)	0
Recovery of common stock in connection with indemnification settlement agreement	0	789
Fair value of common stock issued to settle the conversion of senior notes, due 2022	$ (323,891)	$ 0