10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MASTERCARD INC | |||
Ticker: MA Fiscal Year: 2021 | |||
Consolidated Statement of Operations | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net revenue | $ 18,884 | 15,301 | 16,883 |
| Operating Expenses: | |||
| General and administrative | 7,087 | 5,910 | 5,763 |
| Advertising and marketing | 895 | 657 | 934 |
| Depreciation and amortization | 726 | 580 | 522 |
| Provision for litigation | 94 | 73 | 0 |
| Total operating expenses | 8,802 | 7,220 | 7,219 |
| Operating income | 10,082 | 8,081 | 9,664 |
| Other Income (Expense): | |||
| Investment income | 11 | 24 | 97 |
| Gains (losses) on equity investments, net | 645 | 30 | 167 |
| Interest expense | (431) | (380) | (224) |
| Other income (expense), net | 0 | 5 | 27 |
| Total other income (expense) | 225 | (321) | 67 |
| Income before income taxes | 10,307 | 7,760 | 9,731 |
| Income tax expense | 1,620 | 1,349 | 1,613 |
| Net Income | 8,687 | 6,411 | 8,118 |
| Basic Earnings per Share (in dollars per share) | 8.79 | 6.40 | 7.98 |
| Basic weighted-average shares outstanding (in shares) | 988 | 1,002 | 1,017 |
| Diluted Earnings per Share (in dollars per share) | 8.76 | 6.37 | 7.94 |
| Diluted weighted-average shares outstanding (in shares) | 992 | 1,006 | 1,022 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MASTERCARD INC | |||
Ticker: MA Fiscal Year: 2021 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net Income | $ 8,687 | 6,411 | 8,118 |
| Other comprehensive income (loss): | |||
| Foreign currency translation adjustments | (442) | 345 | 10 |
| Income tax effect | 55 | (59) | 13 |
| Foreign currency translation adjustments, net of income tax effect | (387) | 286 | 23 |
| Translation adjustments on net investment hedges | 269 | (177) | 36 |
| Income tax effect | (60) | 40 | (8) |
| Translation adjustments on net investment hedges, net of income tax effect | 209 | (137) | 28 |
| Cash flow hedges | 6 | (189) | 14 |
| Income tax effect | (1) | 42 | (3) |
| Reclassification adjustment for cash flow hedges | 5 | 4 | 0 |
| Income tax effect | (1) | (1) | 0 |
| Cash flow hedges, net of income tax effect | 9 | (144) | 11 |
| Defined benefit pension and other postretirement plans | 57 | (12) | (21) |
| Income tax effect | (14) | 2 | 3 |
| Reclassification adjustment for defined benefit pension and other postretirement plans | (2) | (1) | (1) |
| Income tax effect | 0 | 0 | 0 |
| Defined benefit pension and other postretirement plans, net of income tax effect | 41 | (11) | (19) |
| Investment securities available-for-sale | (1) | (1) | 3 |
| Income tax effect | 0 | 0 | (1) |
| Investment securities available-for-sale, net of income tax effect | (1) | (1) | 2 |
| Other comprehensive income (loss), net of income tax effect | (129) | (7) | 45 |
| Comprehensive Income | 8,558 | 6,404 | 8,163 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MASTERCARD INC | |||
Ticker: MA Fiscal Year: 2021 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Operating Activities | |||
| Net income | $ 8,687 | 6,411 | 8,118 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Amortization of customer and merchant incentives | 1,371 | 1,072 | 1,141 |
| Depreciation and amortization | 726 | 580 | 522 |
| (Gains) losses on equity investments, net | (645) | (30) | (167) |
| Share-based compensation | 273 | 254 | 250 |
| Deferred income taxes | (69) | 73 | (7) |
| Other | 36 | 14 | 24 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (397) | (86) | (246) |
| Income taxes receivable | (87) | (2) | (202) |
| Settlement assets | 390 | 1,288 | (444) |
| Prepaid expenses | (2,087) | (1,552) | (1,661) |
| Accrued litigation and legal settlements | (1) | (73) | (662) |
| Restricted security deposits held for customers | 177 | 326 | 290 |
| Accounts payable | 100 | 26 | (42) |
| Settlement obligations | (568) | (1,242) | 477 |
| Accrued expenses | 1,355 | (114) | 657 |
| Long-term taxes payable | (52) | (37) | 2 |
| Net change in other assets and liabilities | 254 | 316 | 133 |
| Net cash provided by operating activities | 9,463 | 7,224 | 8,183 |
| Investing Activities | |||
| Purchases of investment securities available-for-sale | (389) | (220) | (643) |
| Purchases of investments held-to-maturity | (294) | (198) | (215) |
| Proceeds from sales of investment securities available-for-sale | 83 | 361 | 1,098 |
| Proceeds from maturities of investment securities available-for-sale | 291 | 140 | 376 |
| Proceeds from maturities of investments held-to-maturity | 296 | 121 | 383 |
| Purchases of property and equipment | (407) | (339) | (422) |
| Capitalized software | (407) | (369) | (306) |
| Purchases of equity investments | (228) | (214) | (467) |
| Proceeds from sales of equity investments | 186 | 0 | 0 |
| Acquisition of businesses, net of cash acquired | (4,436) | (989) | (1,440) |
| Settlement of interest rate derivative contracts | 0 | (175) | 0 |
| Other investing activities | 33 | 3 | (4) |
| Net cash used in investing activities | (5,272) | (1,879) | (1,640) |
| Financing Activities | |||
| Purchases of treasury stock | (5,904) | (4,473) | (6,497) |
| Dividends paid | (1,741) | (1,605) | (1,345) |
| Proceeds from debt, net | 2,024 | 3,959 | 2,724 |
| Payment of debt | (650) | 0 | (500) |
| Acquisition of redeemable non-controlling interests | 0 | (49) | 0 |
| Acquisition of non-controlling interest | (133) | 0 | 0 |
| Contingent consideration paid | (64) | 0 | (199) |
| Tax withholdings related to share-based payments | (133) | (150) | (161) |
| Cash proceeds from exercise of stock options | 61 | 97 | 126 |
| Other financing activities | (15) | 69 | (15) |
| Net cash used in financing activities | (6,555) | (2,152) | (5,867) |
| Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | (153) | 257 | (44) |
| Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | (2,517) | 3,450 | 632 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents - beginning of period | 12,419 | 8,969 | |
| Cash, cash equivalents, restricted cash and restricted cash equivalents - end of period | 9,902 | 12,419 | 8,969 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MASTERCARD INC | ||
Ticker: MA Fiscal Year: 2021 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Cash and cash equivalents | $ 7,421 | 10,113 |
| Restricted cash for litigation settlement | 586 | 586 |
| Investments | 473 | 483 |
| Accounts receivable | 3,006 | 2,646 |
| Settlement assets | 1,319 | 1,706 |
| Restricted security deposits held for customers | 1,873 | 1,696 |
| Prepaid expenses and other current assets | 2,271 | 1,883 |
| Total current assets | 16,949 | 19,113 |
| Property, equipment and right-of-use assets, net | 1,907 | 1,902 |
| Deferred income taxes | 486 | 491 |
| Goodwill | 7,662 | 4,960 |
| Other intangible assets, net | 3,671 | 1,753 |
| Other assets | 6,994 | 5,365 |
| Total Assets | 37,669 | 33,584 |
| Liabilities, Redeemable Non-controlling Interests and Equity | ||
| Accounts payable | 738 | 527 |
| Settlement obligations | 913 | 1,475 |
| Restricted security deposits held for customers | 1,873 | 1,696 |
| Accrued litigation | 840 | 842 |
| Accrued expenses | 6,642 | 5,430 |
| Current portion of long-term debt | 792 | 649 |
| Other current liabilities | 1,364 | 1,228 |
| Total current liabilities | 13,162 | 11,847 |
| Long-term debt | 13,109 | 12,023 |
| Deferred income taxes | 395 | 86 |
| Other liabilities | 3,591 | 3,111 |
| Total Liabilities | 30,257 | 27,067 |
| Commitments and Contingencies | ||
| Redeemable non-controlling interests | 29 | 29 |
| Stockholders Equity | ||
| Additional paid-in-capital | 5,061 | 4,982 |
| Class A treasury stock, at cost, 425 and 409 shares, respectively | (42,588) | (36,658) |
| Retained earnings | 45,648 | 38,747 |
| Accumulated other comprehensive income (loss) | (809) | (680) |
| Mastercard Incorporated Stockholders' Equity | 7,312 | 6,391 |
| Non-controlling interests | 71 | 97 |
| Total Equity | 7,383 | 6,488 |
| Total Liabilities, Redeemable Non-controlling Interests and Equity | 37,669 | 33,584 |
| Class of Stock | ||
| Class A Common Stock | ||
| Common stock value | 0 | 0 |
| Class B Common Stock | ||
| Common stock value | 0 | 0 |
| External Links | |
| MASTERCARD INC (MA) Fiscal Year 2021 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |