BLOCK, INC. (XYZ) FY2025 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-01-01 to 2025-12-31

Swipe to see the full flow
BLOCK, INC. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025One 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. 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 (loss) → Net cash from operating activities: $1,304,210,000.00Proceeds from repayments of loans originally classified as held for sale → Operating adjustments reconciliation: $14,248,689,000.00Transaction, loan, and consumer receivable losses → Operating adjustments reconciliation: $1,337,246,000.00Share-based compensation → Operating adjustments reconciliation: $1,215,480,000.00Customers payable → Operating adjustments reconciliation: $373,925,000.00Depreciation and amortization → Operating adjustments reconciliation: $369,529,000.00Change in deferred income taxes → Operating adjustments reconciliation: $335,038,000.00Non-cash lease expense → Operating adjustments reconciliation: $56,687,000.00Remeasurement loss (gain) on bitcoin investment → Operating adjustments reconciliation: $55,900,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,275,504,000.00Operating adjustments reconciliation → Purchases and originations of loans originally classified as held for sale: $14,191,399,000.00Operating adjustments reconciliation → Amortization of discounts and premiums and other non-cash adjustments: $1,137,906,000.00Operating adjustments reconciliation → Other assets and liabilities: $568,419,000.00Operating adjustments reconciliation → Settlements receivable: $487,316,000.00Operating adjustments reconciliation → Loss (gain) on revaluation of equity investments: $172,256,000.00Operating adjustments reconciliation → Prepaid expenses: $159,364,000.00Operating adjustments reconciliation → Settlements payable: $330,000.00Proceeds from principal repayments and sales of consumer receivables → investing reconciliation: $32,934,204,000.00Proceeds from repayments of loans originally classified as held for investment → investing reconciliation: $14,080,787,000.00Proceeds from maturities of marketable debt securities → investing reconciliation: $468,980,000.00Proceeds from sale of marketable debt securities → investing reconciliation: $409,387,000.00investing reconciliation → Payments for originations of consumer receivables: $32,145,232,000.00investing reconciliation → Purchases and originations of loans originally classified as held for investment: $17,629,689,000.00investing reconciliation → Purchases of marketable debt securities: $700,777,000.00investing reconciliation → Purchases of property and equipment: $155,038,000.00investing reconciliation → Purchases of other investments: $64,554,000.00Net cash used in financing activities → financing reconciliation: $613,099,000.00Proceeds from issuance of senior notes → financing reconciliation: $2,200,000,000.00Proceeds from warehouse facilities borrowings → financing reconciliation: $1,305,288,000.00Change in customer funds, restricted from use in the Company's operations → financing reconciliation: $588,952,000.00Proceeds from the exercise of stock options and purchases under the employee stock purchase plan → financing reconciliation: $88,943,000.00Net increase in interest-bearing deposits → financing reconciliation: $55,548,000.00financing reconciliation → Repurchases of common stock: $2,330,661,000.00financing reconciliation → Repayments of warehouse facilities borrowings: $1,456,869,000.00financing reconciliation → Payments to redeem convertible notes: $1,000,624,000.00financing reconciliation → Other financing activities: $35,330,000.00financing reconciliation → Payments of debt issuance costs from issuance of senior notes: $28,346,000.00Net cash used in investing activities → investing reconciliation: $2,801,932,000.00Exchange-rate effect → Cash sources and uses: $86,081,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $13,230,512,000.00Net cash from operating activities → Cash sources and uses: $2,579,714,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $12,481,276,000.00Cash sources and uses → Net cash used in investing activities: $2,801,932,000.00Cash sources and uses → Net cash used in financing activities: $613,099,000.00Net income (loss): $1,304,210,000.00Net income (loss)+$1.30 BDepreciation and amortization: $369,529,000.00Depreciation & amortization+$369.53 MAmortization of discounts and premiums and other non-cash adjustments: -$1,137,906,000.00Amortization of discounts and premiums and othernon-cash adjustments−$1.14 BNon-cash lease expense: $56,687,000.00Non-cash lease expense+$56.69 MShare-based compensation: $1,215,480,000.00Stock-based compensation+$1.22 BLoss (gain) on revaluation of equity investments: -$172,256,000.00Equity securities gain & loss−$172.26 MRemeasurement loss (gain) on bitcoin investment: $55,900,000.00Remeasurement loss (gain) on bitcoin investment+$55.90 MTransaction, loan, and consumer receivable losses: $1,337,246,000.00Loan & lease loss provision+$1.34 BChange in deferred income taxes: $335,038,000.00Deferred income taxes+$335.04 MGoodwill and intangible asset impairment: $0.00Purchases and originations of loans originally classified as held for sale: -$14,191,399,000.00Purchases and originations of loans originallyclassified as held for sale−$14.19 BProceeds from repayments of loans originally classified as held for sale: $14,248,689,000.00Held-for-sale loan proceeds+$14.25 BSettlements receivable: -$487,316,000.00Settlements receivable−$487.32 MCustomers payable: $373,925,000.00Customers payable+$373.93 MSettlements payable: -$330,000.00Settlements payable−$330.00 KPrepaid expenses: -$159,364,000.00Prepaid expenses−$159.36 MOther assets and liabilities: -$568,419,000.00Other working capital, net−$568.42 MNet cash from operating activities: $2,579,714,000.00Operating cash+$2.58 BOperating adjustments reconciliation: $17,992,494,000.00Payments of debt issuance costs from issuance of senior notes: -$28,346,000.00Debt issuance costs−$28.35 MPayments to redeem convertible notes: -$1,000,624,000.00Convertible debt repaid−$1.00 BProceeds from warehouse facilities borrowings: $1,305,288,000.00Long-term credit line borrowings+$1.31 BProceeds from issuance of senior notes: $2,200,000,000.00Senior debt issued+$2.20 BRepurchases of common stock: -$2,330,661,000.00Common stock repurchases−$2.33 BOther financing activities: -$35,330,000.00Other financing, net−$35.33 MNet increase in interest-bearing deposits: $55,548,000.00Net increase in interest-bearing deposits+$55.55 MRepayments of warehouse facilities borrowings: -$1,456,869,000.00Long-term credit line repayments−$1.46 BChange in customer funds, restricted from use in the Company's operations: $588,952,000.00Change in customer funds, restricted from use in theCompany's operations+$588.95 MProceeds from the exercise of stock options and purchases under the employee stock purchase plan: $88,943,000.00Employee stock plans & options+$88.94 MNet cash used in financing activities: -$613,099,000.00. Cash required to fund net payments.Financing cash−$613.10 Mfinancing reconciliation: $4,851,830,000.00Purchases of marketable debt securities: -$700,777,000.00AFS securities purchases−$700.78 MProceeds from maturities of marketable debt securities: $468,980,000.00AFS securities maturities+$468.98 MProceeds from sale of marketable debt securities: $409,387,000.00AFS securities sales+$409.39 MPayments for originations of consumer receivables: -$32,145,232,000.00Finance receivable purchases−$32.15 BProceeds from principal repayments and sales of consumer receivables: $32,934,204,000.00Finance receivable sales+$32.93 BPurchases and originations of loans originally classified as held for investment: -$17,629,689,000.00Investment loan purchases−$17.63 BProceeds from repayments of loans originally classified as held for investment: $14,080,787,000.00Proceeds from repayments of loans originallyclassified as held for investment+$14.08 BPurchases of property and equipment: -$155,038,000.00PP&E purchases−$155.04 MPurchases of other investments: -$64,554,000.00Other investment purchases−$64.55 MNet cash used in investing activities: -$2,801,932,000.00. Cash required to fund net payments.Investing cash−$2.80 Binvesting reconciliation: $50,695,290,000.00Cash sources and uses: $15,896,307,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $13,230,512,000.00Beginning cash$13.23 BEnding cash: Cash, cash equivalents, and restricted cash: $12,481,276,000.00Ending cash$12.48 BExchange-rate effect: $86,081,000.00FX effect+$86.08 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$2.42 BOperating cash − cash spent on PP&ECash flow / Net income1.98×Operating cash flow ÷ net incomeNet cash change−$749.24 MEnding cash − beginning cash
Chart details

BLOCK, INC. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025

Cash flows for Jan 1, 2025 through Dec 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2024. Ending cash: Dec 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2024
13,230,512,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
2,579,714,000 US dollars. Net cash provided.
Net income (loss)
1,304,210,000 US dollars
Depreciation and amortization
369,529,000 US dollars
Amortization of discounts and premiums and other non-cash adjustments
negative 1,137,906,000 US dollars
Non-cash lease expense
56,687,000 US dollars
Share-based compensation
1,215,480,000 US dollars
Loss (gain) on revaluation of equity investments
negative 172,256,000 US dollars
Remeasurement loss (gain) on bitcoin investment
55,900,000 US dollars
Transaction, loan, and consumer receivable losses
1,337,246,000 US dollars
Change in deferred income taxes
335,038,000 US dollars
Goodwill and intangible asset impairment
0 US dollars
Purchases and originations of loans originally classified as held for sale
negative 14,191,399,000 US dollars
Proceeds from repayments of loans originally classified as held for sale
14,248,689,000 US dollars
Settlements receivable
negative 487,316,000 US dollars
Customers payable
373,925,000 US dollars
Settlements payable
negative 330,000 US dollars
Prepaid expenses
negative 159,364,000 US dollars
Other assets and liabilities
negative 568,419,000 US dollars
Investing activities
negative 2,801,932,000 US dollars. Net cash used.
Purchases of marketable debt securities
negative 700,777,000 US dollars
Proceeds from maturities of marketable debt securities
468,980,000 US dollars
Proceeds from sale of marketable debt securities
409,387,000 US dollars
Payments for originations of consumer receivables
negative 32,145,232,000 US dollars
Proceeds from principal repayments and sales of consumer receivables
32,934,204,000 US dollars
Purchases and originations of loans originally classified as held for investment
negative 17,629,689,000 US dollars
Proceeds from repayments of loans originally classified as held for investment
14,080,787,000 US dollars
Purchases of property and equipment
negative 155,038,000 US dollars
Purchases of other investments
negative 64,554,000 US dollars
Financing activities
negative 613,099,000 US dollars. Net cash used.
Payments of debt issuance costs from issuance of senior notes
negative 28,346,000 US dollars
Payments to redeem convertible notes
negative 1,000,624,000 US dollars
Proceeds from warehouse facilities borrowings
1,305,288,000 US dollars
Proceeds from issuance of senior notes
2,200,000,000 US dollars
Repurchases of common stock
negative 2,330,661,000 US dollars
Other financing activities
negative 35,330,000 US dollars
Net increase in interest-bearing deposits
55,548,000 US dollars
Repayments of warehouse facilities borrowings
negative 1,456,869,000 US dollars
Change in customer funds, restricted from use in the Company's operations
588,952,000 US dollars
Proceeds from the exercise of stock options and purchases under the employee stock purchase plan
88,943,000 US dollars
Operating adjustment reconciliation
17,992,494,000 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
4,851,830,000 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
50,695,290,000 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
86,081,000 US dollars
Ending cash on Dec 31, 2025
12,481,276,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
15,896,307,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 749,236,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.98×. 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
2,579,714,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
155,038,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
2,424,676,000 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 $1.28B 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: 2,579,714,000 US dollars minus 155,038,000 US dollars equals 2,424,676,000 US dollars.
BLOCK, INC. (XYZ) FY2025 Annual Statement of Cash Flows Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

Newsletter

Get the teardowns by email

Subscribe if you want the public-company teardowns in your inbox when they're released.

Product waitlist

Health Check and Teardown for your own company

A health check uncovers insights of your private books, not a public ticker. Join this list to get notified as soon as we go-live!