Mastercard Incorporated (MA) FY2024 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-01-01 to 2024-12-31

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Mastercard Incorporated cash flow reconciliation, Jan 1, 2024 through Dec 31, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net Income → Net cash from operating activities: $12,874,000,000.00Amortization of customer incentives → Operating adjustments reconciliation: $1,830,000,000.00Accrued expenses → Operating adjustments reconciliation: $1,587,000,000.00Settlement obligations → Operating adjustments reconciliation: $922,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $897,000,000.00Share-based compensation → Operating adjustments reconciliation: $526,000,000.00Accrued litigation and legal settlements → Operating adjustments reconciliation: $205,000,000.00Other → Operating adjustments reconciliation: $191,000,000.00Accounts receivable → Operating adjustments reconciliation: $186,000,000.00Net change in other assets and liabilities → Operating adjustments reconciliation: $102,000,000.00Accounts payable → Operating adjustments reconciliation: $75,000,000.00(Gains) losses on equity investments, net → Operating adjustments reconciliation: $29,000,000.00Restricted security deposits held for customers → Operating adjustments reconciliation: $29,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,906,000,000.00Operating adjustments reconciliation → Prepaid expenses: $3,225,000,000.00Operating adjustments reconciliation → Settlement assets: $593,000,000.00Operating adjustments reconciliation → Deferred income taxes: $527,000,000.00Operating adjustments reconciliation → Income taxes receivable: $165,000,000.00Operating adjustments reconciliation → Long-term taxes payable: $163,000,000.00Proceeds from maturities of investments held-to-maturity → investing reconciliation: $378,000,000.00Proceeds from maturities of investment securities available-for-sale → investing reconciliation: $262,000,000.00Proceeds from sales of investment securities available-for-sale → investing reconciliation: $199,000,000.00Proceeds from sales of equity investments → investing reconciliation: $125,000,000.00investing reconciliation → Acquisition of businesses, net of cash acquired: $2,511,000,000.00investing reconciliation → Capitalized software: $720,000,000.00investing reconciliation → Purchases of investment securities available-for-sale: $508,000,000.00investing reconciliation → Purchases of property and equipment: $474,000,000.00investing reconciliation → Purchases of investments held-to-maturity: $108,000,000.00investing reconciliation → Purchases of equity investments: $42,000,000.00investing reconciliation → Other investing activities: $3,000,000.00Net cash used in financing activities → financing reconciliation: $10,836,000,000.00Proceeds from debt, net → financing reconciliation: $3,960,000,000.00Cash proceeds from employee stock plans → financing reconciliation: $224,000,000.00financing reconciliation → Purchases of treasury stock: $11,035,000,000.00financing reconciliation → Dividends paid: $2,448,000,000.00financing reconciliation → Payment of debt: $1,336,000,000.00financing reconciliation → Tax withholdings related to share-based payments: $178,000,000.00financing reconciliation → Other financing activities: $23,000,000.00Net cash used in investing activities → investing reconciliation: $3,402,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $10,465,000,000.00Net cash from operating activities → Cash sources and uses: $14,780,000,000.00Cash sources and uses → Exchange-rate effect: $199,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $10,808,000,000.00Cash sources and uses → Net cash used in investing activities: $3,402,000,000.00Cash sources and uses → Net cash used in financing activities: $10,836,000,000.00Deferred income taxes: -$527,000,000.00Deferred income taxes−$527.00 MLong-term taxes payable: -$163,000,000.00Accrued taxes−$163.00 MSettlement obligations: $922,000,000.00Settlement obligations+$922.00 MIncome taxes receivable: -$165,000,000.00Income taxes receivable−$165.00 MAmortization of customer incentives: $1,830,000,000.00Customer incentive amort.+$1.83 BDepreciation and amortization: $897,000,000.00D&A and accretion+$897.00 MPrepaid expenses: -$3,225,000,000.00Prepaid expenses−$3.23 BAccounts payable: $75,000,000.00Accounts payable+$75.00 M(Gains) losses on equity investments, net: $29,000,000.00Realized equity gain & loss+$29.00 MSettlement assets: -$593,000,000.00Settlement assets−$593.00 MNet Income: $12,874,000,000.00Net Income+$12.87 BAccrued expenses: $1,587,000,000.00Accrued liabilities+$1.59 BNet change in other assets and liabilities: $102,000,000.00Other working capital, net+$102.00 MAccrued litigation and legal settlements: $205,000,000.00Accrued litigation & settlements+$205.00 MRestricted security deposits held for customers: $29,000,000.00Deferred revenue+$29.00 MAccounts receivable: $186,000,000.00Accounts receivable+$186.00 MShare-based compensation: $526,000,000.00Stock-based compensation+$526.00 MOther: $191,000,000.00Other non-cash items+$191.00 MNet cash from operating activities: $14,780,000,000.00Operating cash+$14.78 BOperating adjustments reconciliation: $6,579,000,000.00Purchases of treasury stock: -$11,035,000,000.00Common stock repurchases−$11.04 BDividends paid: -$2,448,000,000.00Dividends paid−$2.45 BOther financing activities: -$23,000,000.00Other financing, net−$23.00 MCash proceeds from employee stock plans: $224,000,000.00Stock option exercises+$224.00 MTax withholdings related to share-based payments: -$178,000,000.00Stock-award tax withholding−$178.00 MPayment of debt: -$1,336,000,000.00Debt repaid−$1.34 BProceeds from debt, net: $3,960,000,000.00Debt issued+$3.96 BNet cash used in financing activities: -$10,836,000,000.00. Cash required to fund net payments.Financing cash−$10.84 Bfinancing reconciliation: $15,020,000,000.00Proceeds from maturities of investments held-to-maturity: $378,000,000.00HTM securities maturities+$378.00 MProceeds from sales of investment securities available-for-sale: $199,000,000.00AFS securities sales+$199.00 MProceeds from maturities of investment securities available-for-sale: $262,000,000.00AFS securities maturities+$262.00 MOther investing activities: -$3,000,000.00Other investing, net−$3.00 MAcquisition of businesses, net of cash acquired: -$2,511,000,000.00Acquisitions, net of cash−$2.51 BPurchases of equity investments: -$42,000,000.00Purchases of equity investments−$42.00 MPurchases of investment securities available-for-sale: -$508,000,000.00AFS securities purchases−$508.00 MPurchases of investments held-to-maturity: -$108,000,000.00HTM investment purchases−$108.00 MCapitalized software: -$720,000,000.00Software purchases−$720.00 MProceeds from sales of equity investments: $125,000,000.00Equity-method investment sales+$125.00 MPurchases of property and equipment: -$474,000,000.00PP&E purchases−$474.00 MNet cash used in investing activities: -$3,402,000,000.00. Cash required to fund net payments.Investing cash−$3.40 Binvesting reconciliation: $4,366,000,000.00Cash sources and uses: $25,245,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $10,465,000,000.00Beginning cash$10.47 BEnding cash: Cash, cash equivalents, and restricted cash: $10,808,000,000.00Ending cash$10.81 BExchange-rate effect: -$199,000,000.00FX effect−$199.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$14.31 BOperating cash − cash spent on PP&ECash flow / Net income1.15×Operating cash flow ÷ net incomeNet cash change+$343.00 MEnding cash − beginning cash
Chart details

Mastercard Incorporated cash flow reconciliation, Jan 1, 2024 through Dec 31, 2024

Cash flows for Jan 1, 2024 through Dec 31, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2023. Ending cash: Dec 31, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2023
10,465,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
14,780,000,000 US dollars. Net cash provided.
Deferred income taxes
negative 527,000,000 US dollars
Long-term taxes payable
negative 163,000,000 US dollars
Settlement obligations
922,000,000 US dollars
Income taxes receivable
negative 165,000,000 US dollars
Amortization of customer incentives
1,830,000,000 US dollars
Depreciation and amortization
897,000,000 US dollars
Prepaid expenses
negative 3,225,000,000 US dollars
Accounts payable
75,000,000 US dollars
(Gains) losses on equity investments, net
29,000,000 US dollars
Settlement assets
negative 593,000,000 US dollars
Net Income
12,874,000,000 US dollars
Accrued expenses
1,587,000,000 US dollars
Net change in other assets and liabilities
102,000,000 US dollars
Accrued litigation and legal settlements
205,000,000 US dollars
Restricted security deposits held for customers
29,000,000 US dollars
Accounts receivable
186,000,000 US dollars
Share-based compensation
526,000,000 US dollars
Other
191,000,000 US dollars
Investing activities
negative 3,402,000,000 US dollars. Net cash used.
Proceeds from maturities of investments held-to-maturity
378,000,000 US dollars
Proceeds from sales of investment securities available-for-sale
199,000,000 US dollars
Proceeds from maturities of investment securities available-for-sale
262,000,000 US dollars
Other investing activities
negative 3,000,000 US dollars
Acquisition of businesses, net of cash acquired
negative 2,511,000,000 US dollars
Purchases of equity investments
negative 42,000,000 US dollars
Purchases of investment securities available-for-sale
negative 508,000,000 US dollars
Purchases of investments held-to-maturity
negative 108,000,000 US dollars
Capitalized software
negative 720,000,000 US dollars
Proceeds from sales of equity investments
125,000,000 US dollars
Purchases of property and equipment
negative 474,000,000 US dollars
Financing activities
negative 10,836,000,000 US dollars. Net cash used.
Purchases of treasury stock
negative 11,035,000,000 US dollars
Dividends paid
negative 2,448,000,000 US dollars
Other financing activities
negative 23,000,000 US dollars
Cash proceeds from employee stock plans
224,000,000 US dollars
Tax withholdings related to share-based payments
negative 178,000,000 US dollars
Payment of debt
negative 1,336,000,000 US dollars
Proceeds from debt, net
3,960,000,000 US dollars
Operating adjustment reconciliation
6,579,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
15,020,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
4,366,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 199,000,000 US dollars
Ending cash on Dec 31, 2024
10,808,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
25,245,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
343,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.15×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
14,780,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
474,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
14,306,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $1.91B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 14,780,000,000 US dollars minus 474,000,000 US dollars equals 14,306,000,000 US dollars.
Mastercard Incorporated (MA) FY2024 Annual Statement of Cash Flows Sankey chart
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