10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PAYPAL HOLDINGS, INC. | |||
Ticker: PYPL Fiscal Year: 2021 | |||
CONSOLIDATED STATEMENTS OF INCOME | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 3, 2022) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net revenues | $ 25,371 | 21,454 | 17,772 |
| Operating expenses: | |||
| Transaction expense | 10,315 | 7,934 | 6,790 |
| Transaction and credit losses | 1,060 | 1,741 | 1,380 |
| Customer support and operations | 2,075 | 1,778 | 1,615 |
| Sales and marketing | 2,445 | 1,861 | 1,401 |
| Technology and development | 3,038 | 2,642 | 2,085 |
| General and administrative | 2,114 | 2,070 | 1,711 |
| Restructuring and other charges | 62 | 139 | 71 |
| Total operating expenses | 21,109 | 18,165 | 15,053 |
| Operating income | 4,262 | 3,289 | 2,719 |
| Other income (expense), net | (163) | 1,776 | 279 |
| Income before income taxes | 4,099 | 5,065 | 2,998 |
| Income tax (benefit) expense | (70) | 863 | 539 |
| Net income | 4,169 | 4,202 | 2,459 |
| Net income per share: | |||
| Basic (in dollars per share) | 3.55 | 3.58 | 2.09 |
| Diluted (in dollars per share) | 3.52 | 3.54 | 2.07 |
| Weighted average shares: | |||
| Basic (in shares) | 1,174 | 1,173 | 1,174 |
| Diluted (in shares) | 1,186 | 1,187 | 1,188 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PAYPAL HOLDINGS, INC. | |||
Ticker: PYPL Fiscal Year: 2021 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 3, 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 | $ 4,169 | 4,202 | 2,459 |
| Other comprehensive income (loss), net of reclassification adjustments: | |||
| Foreign currency translation adjustments (CTA) | (72) | (48) | (57) |
| Net investment hedge CTA gain (loss) | 0 | 55 | (31) |
| Unrealized gains (losses) on cash flow hedges, net | 522 | (329) | (176) |
| Tax (expense) benefit on unrealized gains (losses) on cash flow hedges, net | (26) | 4 | 3 |
| Unrealized (losses) gains on investments, net | (98) | 9 | 15 |
| Tax benefit (expense) on unrealized (losses) gains on investments, net | 22 | (2) | (5) |
| Other comprehensive income (loss), net of tax | 348 | (311) | (251) |
| Comprehensive income | 4,517 | 3,891 | 2,208 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PAYPAL HOLDINGS, INC. | |||
Ticker: PYPL Fiscal Year: 2021 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 3, 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 | |
| Cash flows from operating activities: | |||
| Net income | $ 4,169 | 4,202 | 2,459 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Transaction and credit losses | 1,060 | 1,741 | 1,380 |
| Depreciation and amortization | 1,265 | 1,189 | 912 |
| Stock-based compensation | 1,376 | 1,376 | 1,021 |
| Deferred income taxes | (482) | 165 | (269) |
| Net gains on strategic investments | (46) | (1,914) | (208) |
| Other | 100 | 47 | (149) |
| Changes in assets and liabilities: | |||
| Accounts receivable | (222) | (100) | (120) |
| Changes in loans and interest receivable held for sale, net | 0 | 0 | 4 |
| Transaction loss allowance for cash losses, net | (1,178) | (1,120) | (1,079) |
| Other current assets and non-current assets | (150) | (498) | (566) |
| Accounts payable | (31) | (4) | 4 |
| Income taxes payable | 73 | (230) | (40) |
| Other current liabilities and non-current liabilities | 406 | 1,000 | 722 |
| Net cash provided by operating activities | 6,340 | 5,854 | 4,071 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (908) | (866) | (704) |
| Proceeds from sales of property and equipment | 5 | 120 | 17 |
| Changes in principal loans receivable, net | (1,594) | 294 | (1,631) |
| Purchases of investments | (40,116) | (41,513) | (27,881) |
| Maturities and sales of investments | 39,698 | 30,908 | 24,878 |
| Acquisitions, net of cash and restricted cash acquired | (2,763) | (3,609) | (70) |
| Funds receivable | 193 | (1,552) | (351) |
| Net cash used in investing activities | (5,485) | (16,218) | (5,742) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of common stock | 162 | 137 | 138 |
| Purchases of treasury stock | (3,373) | (1,635) | (1,411) |
| Tax withholdings related to net share settlements of equity awards | (1,036) | (521) | (504) |
| Borrowings under financing arrangements | 272 | 6,966 | 5,471 |
| Repayments under financing arrangements | (361) | (3,000) | (2,516) |
| Funds payable and amounts due to customers | 3,572 | 10,597 | 3,009 |
| Other financing activities | 0 | (52) | 0 |
| Net cash (used in) provided by financing activities | (764) | 12,492 | 4,187 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (102) | 169 | (6) |
| Net change in cash, cash equivalents, and restricted cash | (11) | 2,297 | 2,510 |
| Cash, cash equivalents, and restricted cash at beginning of period | 18,040 | 15,743 | |
| Cash, cash equivalents, and restricted cash at end of period | 18,029 | 18,040 | 15,743 |
| Supplemental cash flow disclosures: | |||
| Cash paid for interest | 231 | 190 | 78 |
| Cash paid for income taxes, net | 474 | 565 | 665 |
| The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows: | |||
| Cash and cash equivalents | 5,197 | 4,794 | 7,349 |
| Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows | 18,029 | 18,040 | 15,743 |
| Restricted Cash and Cash Equivalents | |||
| Short-term and long-term investments | |||
| Restricted cash and cash equivalents | 109 | 24 | 7 |
| Funds receivable and customer accounts | |||
| Restricted cash and cash equivalents | 12,723 | 13,222 | 8,387 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
PAYPAL HOLDINGS, INC. | ||
Ticker: PYPL Fiscal Year: 2021 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 3, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 5,197 | 4,794 |
| Short-term investments | 4,303 | 8,289 |
| Accounts receivable, net | 800 | 577 |
| Loans and interest receivable, net of allowances of $491 and $838 as of December 31, 2021 and 2020, respectively | 4,846 | 2,769 |
| Funds receivable and customer accounts | 36,141 | 33,418 |
| Prepaid expenses and other current assets | 1,287 | 1,148 |
| Total current assets | 52,574 | 50,995 |
| Long-term investments | 6,797 | 6,089 |
| Property and equipment, net | 1,909 | 1,807 |
| Goodwill | 11,454 | 9,135 |
| Intangible assets, net | 1,332 | 1,048 |
| Other assets | 1,737 | 1,305 |
| Total assets | 75,803 | 70,379 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 197 | 252 |
| Funds payable and amounts due to customers | 38,841 | 35,418 |
| Accrued expenses and other current liabilities | 3,755 | 2,648 |
| Income taxes payable | 236 | 129 |
| Total current liabilities | 43,029 | 38,447 |
| Deferred tax liability and other long-term liabilities | 2,998 | 2,930 |
| Long-term debt | 8,049 | 8,939 |
| Total liabilities | 54,076 | 50,316 |
| Commitments and contingencies (Note 13) | ||
| Equity: | ||
| Common stock, $0.0001 par value; 4,000 shares authorized; 1,168 and 1,172 shares outstanding as of December 31, 2021 and 2020, respectively | 0 | 0 |
| Preferred stock, $0.0001 par value; 100 shares authorized, unissued | 0 | 0 |
| Treasury stock at cost, 132 and 117 shares as of December 31, 2021 and 2020, respectively | (11,880) | (8,507) |
| Additional paid-in-capital | 17,208 | 16,644 |
| Retained earnings | 16,535 | 12,366 |
| Accumulated other comprehensive income (loss) | (136) | (484) |
| Total PayPal stockholders equity | 21,727 | 20,019 |
| Noncontrolling interest | 0 | 44 |
| Total equity | 21,727 | 20,063 |
| Total liabilities and equity | 75,803 | 70,379 |
| External Links | |
| PAYPAL HOLDINGS, INC. (PYPL) 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 |