Earnings Release | ![]() | ||||
First-Quarter Operating Results | Increase / (Decrease) | |||||||||||||||||||||||||
$ in billions, except per share data | Q1 2021 | Q1 2020 | Reported GAAP | Currency-neutral | ||||||||||||||||||||||
Net revenue | $4.2 | $4.0 | 4% | 2% | ||||||||||||||||||||||
Operating expenses | $2.0 | $1.8 | 9% | 6% | ||||||||||||||||||||||
Operating income | $2.2 | $2.2 | (1)% | (1)% | ||||||||||||||||||||||
Operating margin | 52.9% | 55.2% | (2.3) ppt | (1.8) ppt | ||||||||||||||||||||||
Effective income tax rate | 16.5% | 14.8% | 1.8 ppt | 1.8 ppt | ||||||||||||||||||||||
Net income | $1.8 | $1.7 | 8% | 8% | ||||||||||||||||||||||
Diluted EPS | $1.83 | $1.68 | 9% | 10% | ||||||||||||||||||||||
Key First-Quarter Non-GAAP Results 1 | Increase / (Decrease) | |||||||||||||||||||||||||
$ in billions, except per share data | Q1 2021 | Q1 2020 | As adjusted | Currency-neutral | ||||||||||||||||||||||
Net revenue | $4.2 | $4.0 | 4% | 2% | ||||||||||||||||||||||
Adjusted operating expenses | $2.0 | $1.8 | 9% | 7% | ||||||||||||||||||||||
Adjusted operating margin | 52.9% | 55.3% | (2.4) ppt | (2.0) ppt | ||||||||||||||||||||||
Adj. effective income tax rate | 16.9% | 14.9% | 2.0 ppt | 2.0 ppt | ||||||||||||||||||||||
Adjusted net income | $1.7 | $1.8 | (6)% | (6)% | ||||||||||||||||||||||
Adjusted diluted EPS | $1.74 | $1.83 | (5)% | (5)% | ||||||||||||||||||||||
1. The Key First-Quarter Non-GAAP Results exclude the impact of gains and losses on the company’s equity investments, special items as described on page 9 (“Special Items”) and/or currency. See page 9 for the company’s non-GAAP adjustments and the reconciliation to GAAP reported amounts. |
Q1 2021 Key Business Drivers (YoY growth) | |||||||||||||||||||||||
![]() | Gross dollar volume | ![]() | Cross-border volume2 | ![]() | Switched transactions2 | ||||||||||||||||||
(local currency basis) | (local currency basis) | ||||||||||||||||||||||
up 8% | down 17% | up 9% | |||||||||||||||||||||
2. Growth rates normalized to eliminate the effects of differing switching and carryover days between periods. |
![]() | 2 |
![]() | 3 |
Investor Relations: | Media Relations: | ||||
Warren Kneeshaw or Gina Accordino | Seth Eisen | ||||
investor.relations@mastercard.com | Seth.Eisen@mastercard.com | ||||
914-249-4565 | 914-249-3153 |
![]() | 4 |
Consolidated Statement of Operations (Unaudited) | |||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||
2021 | 2020 | ||||||||||||||||
(inmillions,exceptpersharedata) | |||||||||||||||||
Net Revenue | $ | 4,155 | $ | 4,009 | |||||||||||||
Operating Expenses | |||||||||||||||||
General and administrative | 1,676 | 1,494 | |||||||||||||||
Advertising and marketing | 119 | 154 | |||||||||||||||
Depreciation and amortization | 163 | 144 | |||||||||||||||
Provision for litigation | — | 6 | |||||||||||||||
Total operating expenses | 1,958 | 1,798 | |||||||||||||||
Operating income | 2,197 | 2,211 | |||||||||||||||
Other Income (Expense) | |||||||||||||||||
Investment income | 1 | 16 | |||||||||||||||
Gains (losses) on equity investments, net | 94 | (174) | |||||||||||||||
Interest expense | (107) | (69) | |||||||||||||||
Other income (expense), net | 5 | 3 | |||||||||||||||
Total other income (expense) | (7) | (224) | |||||||||||||||
Income before income taxes | 2,190 | 1,987 | |||||||||||||||
Income tax expense | 362 | 294 | |||||||||||||||
Net Income | $ | 1,828 | $ | 1,693 | |||||||||||||
Basic Earnings per Share | $ | 1.84 | $ | 1.68 | |||||||||||||
Basic weighted-average shares outstanding | 994 | 1,005 | |||||||||||||||
Diluted Earnings per Share | $ | 1.83 | $ | 1.68 | |||||||||||||
Diluted weighted-average shares outstanding | 998 | 1,010 |
![]() | 5 |
Consolidated Balance Sheet (Unaudited) | ||||||||||||||
March 31, 2021 | December 31, 2020 | |||||||||||||
(inmillions,exceptper sharedata) | ||||||||||||||
Assets | ||||||||||||||
Current assets: | ||||||||||||||
Cash and cash equivalents | $ | 7,246 | $ | 10,113 | ||||||||||
Restricted cash for litigation settlement | 586 | 586 | ||||||||||||
Investments | 489 | 483 | ||||||||||||
Accounts receivable | 2,648 | 2,646 | ||||||||||||
Settlement due from customers | 1,678 | 1,706 | ||||||||||||
Restricted security deposits held for customers | 1,759 | 1,696 | ||||||||||||
Prepaid expenses and other current assets | 1,999 | 1,883 | ||||||||||||
Total current assets | 16,405 | 19,113 | ||||||||||||
Property, equipment and right-of-use assets, net of accumulated depreciation and amortization of $1,441 and $1,390, respectively | 1,850 | 1,902 | ||||||||||||
Deferred income taxes | 459 | 491 | ||||||||||||
Goodwill | 7,051 | 4,960 | ||||||||||||
Other intangible assets, net of accumulated amortization of $1,551 and $1,489, respectively | 3,321 | 1,753 | ||||||||||||
Other assets | 5,714 | 5,365 | ||||||||||||
Total Assets | $ | 34,800 | $ | 33,584 | ||||||||||
Liabilities, Redeemable Non-controlling Interests and Equity | ||||||||||||||
Current liabilities: | ||||||||||||||
Accounts payable | $ | 476 | $ | 527 | ||||||||||
Settlement due to customers | 1,297 | 1,475 | ||||||||||||
Restricted security deposits held for customers | 1,759 | 1,696 | ||||||||||||
Accrued litigation | 841 | 842 | ||||||||||||
Accrued expenses | 5,200 | 5,430 | ||||||||||||
Current portion of long-term debt | 649 | 649 | ||||||||||||
Other current liabilities | 1,253 | 1,228 | ||||||||||||
Total current liabilities | 11,475 | 11,847 | ||||||||||||
Long-term debt | 13,221 | 12,023 | ||||||||||||
Deferred income taxes | 391 | 86 | ||||||||||||
Other liabilities | 3,260 | 3,111 | ||||||||||||
Total Liabilities | 28,347 | 27,067 | ||||||||||||
Commitments and Contingencies | ||||||||||||||
Redeemable Non-controlling Interests | 28 | 29 | ||||||||||||
Stockholders’ Equity | ||||||||||||||
ClassA common stock, $0.0001 par value; authorized 3,000 shares, 1,397 and 1,396 shares issued and 984 and 987 shares outstanding, respectively | — | — | ||||||||||||
Class B common stock, $0.0001 par value; authorized 1,200 shares, 8 shares issued and outstanding | — | — | ||||||||||||
Additional paid-in-capital | 4,949 | 4,982 | ||||||||||||
ClassA treasury stock, at cost, 413 and 409 shares, respectively | (38,024) | (36,658) | ||||||||||||
Retained earnings | 40,140 | 38,747 | ||||||||||||
Accumulated other comprehensive income (loss) | (738) | (680) | ||||||||||||
Mastercard Incorporated Stockholders' Equity | 6,327 | 6,391 | ||||||||||||
Non-controlling interests | 98 | 97 | ||||||||||||
Total Equity | 6,425 | 6,488 | ||||||||||||
Total Liabilities, Redeemable Non-controlling Interests and Equity | $ | 34,800 | $ | 33,584 |
![]() | 6 |
Consolidated Statement of Cash Flows (Unaudited) | ||||||||||||||
Three Months Ended March 31, | ||||||||||||||
2021 | 2020 | |||||||||||||
(in millions) | ||||||||||||||
Operating Activities | ||||||||||||||
Net income | $ | 1,828 | $ | 1,693 | ||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||
Amortization of customer and merchant incentives | 338 | 237 | ||||||||||||
Depreciation and amortization | 163 | 144 | ||||||||||||
(Gains) losses on equity investments, net | (94) | 174 | ||||||||||||
Share-based compensation | 65 | 52 | ||||||||||||
Deferred income taxes | 33 | 26 | ||||||||||||
Other | 11 | 20 | ||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||
Accounts receivable | (70) | (3) | ||||||||||||
Settlement due from customers | 28 | 1,831 | ||||||||||||
Prepaid expenses | (562) | (331) | ||||||||||||
Accrued litigation and legal settlements | (2) | (62) | ||||||||||||
Restricted security deposits held for customers | 63 | 148 | ||||||||||||
Accounts payable | (15) | (102) | ||||||||||||
Settlement due to customers | (178) | (1,564) | ||||||||||||
Accrued expenses | (163) | (622) | ||||||||||||
Net change in other assets and liabilities | 18 | 218 | ||||||||||||
Net cash provided by operating activities | 1,463 | 1,859 | ||||||||||||
Investing Activities | ||||||||||||||
Purchases of investment securities available-for-sale | (155) | (74) | ||||||||||||
Purchases of investments held-to-maturity | (38) | (45) | ||||||||||||
Proceeds from sales of investment securities available-for-sale | 72 | 179 | ||||||||||||
Proceeds from maturities of investment securities available-for-sale | 23 | 64 | ||||||||||||
Proceeds from maturities of investments held-to-maturity | 79 | 65 | ||||||||||||
Purchases of property and equipment | (65) | (131) | ||||||||||||
Capitalized software | (79) | (78) | ||||||||||||
Purchases of equity investments | (42) | (135) | ||||||||||||
Acquisition of businesses, net of cash acquired | (3,364) | — | ||||||||||||
Settlement of interest rate derivative contracts | — | (175) | ||||||||||||
Other investing activities | 9 | (177) | ||||||||||||
Net cash used in investing activities | (3,560) | (507) | ||||||||||||
Financing Activities | ||||||||||||||
Purchases of treasury stock | (1,356) | (1,383) | ||||||||||||
Dividends paid | (439) | (403) | ||||||||||||
Proceeds from debt, net | 1,282 | 3,959 | ||||||||||||
Tax withholdings related to share-based payments | (121) | (131) | ||||||||||||
Cash proceeds from exercise of stock options | 23 | 31 | ||||||||||||
Other financing activities | 5 | 27 | ||||||||||||
Net cash (used in) provided by financing activities | (606) | 2,100 | ||||||||||||
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | (101) | (88) | ||||||||||||
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | (2,804) | 3,364 | ||||||||||||
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 | $ | 9,615 | $ | 12,333 | ||||||||||
![]() | 7 |
![]() | 8 |
Non-GAAP Reconciliations (QTD) | ||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2021 | ||||||||||||||||||||||||||||||||||||||
Operating expenses | Operating margin | Other Income (Expense) | Effective income tax rate | Net income | Diluted earnings per share | |||||||||||||||||||||||||||||||||
($ in millions, except per share data) | ||||||||||||||||||||||||||||||||||||||
Reported - GAAP | $ | 1,958 | 52.9 | % | $ | (7) | 16.5 | % | $ | 1,828 | $ | 1.83 | ||||||||||||||||||||||||||
(Gains) losses on equity investments 1 | ** | ** | (94) | 0.4 | % | (87) | (0.09) | |||||||||||||||||||||||||||||||
Non-GAAP | $ | 1,958 | 52.9 | % | $ | (101) | 16.9 | % | $ | 1,741 | $ | 1.74 |
Three Months Ended March 31, 2020 | ||||||||||||||||||||||||||||||||||||||
Operating expenses | Operating margin | Other Income (Expense) | Effective income tax rate | Net income | Diluted earnings per share | |||||||||||||||||||||||||||||||||
($ in millions, except per share data) | ||||||||||||||||||||||||||||||||||||||
Reported - GAAP | $ | 1,798 | 55.2 | % | $ | (224) | 14.8 | % | $ | 1,693 | $ | 1.68 | ||||||||||||||||||||||||||
(Gains) losses on equity investments 1 | ** | ** | 174 | 0.1 | % | 146 | 0.14 | |||||||||||||||||||||||||||||||
Litigation provisions 2 | (6) | 0.2 | ** | — | % | 5 | — | |||||||||||||||||||||||||||||||
Non-GAAP | $ | 1,792 | 55.3 | % | $ | (50) | 14.9 | % | $ | 1,844 | $ | 1.83 |
Three Months Ended March 31, 2021 as compared to the Three Months Ended March 31, 2020 | ||||||||||||||||||||||||||||||||||||||
Increase/(Decrease) | ||||||||||||||||||||||||||||||||||||||
Net revenue | Operating expenses | Operating margin | Effective income tax rate | Net income | Diluted earnings per share | |||||||||||||||||||||||||||||||||
Reported - GAAP | 4% | 9% | (2.3) ppt | 1.8 ppt | 8% | 9% | ||||||||||||||||||||||||||||||||
(Gains) losses on equity investments 1 | ** | ** | ** | 0.3 ppt | (13)% | (13)% | ||||||||||||||||||||||||||||||||
Litigation provisions 2 | ** | —% | (0.2) ppt | — ppt | —% | (1)% | ||||||||||||||||||||||||||||||||
Non-GAAP | 4% | 9% | (2.4) ppt | 2.0 ppt | (6)% | (5)% | ||||||||||||||||||||||||||||||||
Currency impact 3 | (1)% | (3)% | 0.5 ppt | — ppt | (1)% | (1)% | ||||||||||||||||||||||||||||||||
Non-GAAP - currency-neutral | 2% | 7% | (2.0) ppt | 2.0 ppt | (6)% | (5)% |
![]() | 9 |
Mastercard Incorporated Operating Performance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the 3 Months Ended March 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GDV (Bil.) | Growth (USD) | Growth (Local) | Purchase Volume (Bil.) | Growth (Local) | Purchase Trans. (Mil.) | Purchase Trans. Growth | Cash Volume (Bil.) | Growth (Local) | Cash Trans. (Mil.) | Cards (Mil.) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All Mastercard Credit, Charge and Debit Programs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APMEA | $ | 518 | 9.7 | % | 5.1 | % | $ | 357 | 7.9 | % | 7,099 | 12.3 | % | $ | 161 | (0.7) | % | 1,621 | 892 | |||||||||||||||||||||||||||||||||||||||||||||||||
Canada | 44 | 8.6 | % | 2.4 | % | 42 | 3.2 | % | 648 | (0.8) | % | 2 | (13.6) | % | 4 | 64 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Europe | 503 | 7.5 | % | 4.8 | % | 350 | 7.5 | % | 11,312 | 10.6 | % | 153 | (0.7) | % | 910 | 673 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Latin America | 103 | (3.3) | % | 5.6 | % | 69 | 11.8 | % | 3,154 | 8.3 | % | 34 | (5.1) | % | 268 | 245 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Worldwide less United States | 1,167 | 7.5 | % | 4.9 | % | 818 | 7.8 | % | 22,213 | 10.4 | % | 350 | (1.2) | % | 2,804 | 1,874 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
United States | 544 | 13.6 | % | 13.6 | % | 479 | 14.0 | % | 7,872 | 7.0 | % | 65 | 10.6 | % | 311 | 516 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Worldwide | 1,711 | 9.3 | % | 7.5 | % | 1,296 | 10.0 | % | 30,085 | 9.5 | % | 415 | 0.5 | % | 3,114 | 2,390 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Mastercard Credit and Charge Programs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Worldwide less United States | 532 | 0.7 | % | (2.4) | % | 497 | (1.5) | % | 10,116 | 4.3 | % | 35 | (13.7) | % | 146 | 725 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
United States | 226 | (0.5) | % | (0.5) | % | 220 | 1.4 | % | 2,414 | (2.0) | % | 6 | (41.0) | % | 6 | 249 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Worldwide | 758 | 0.3 | % | (1.8) | % | 717 | (0.6) | % | 12,530 | 3.0 | % | 41 | (19.3) | % | 152 | 974 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Mastercard Debit Programs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Worldwide less United States | 636 | 13.9 | % | 11.9 | % | 321 | 26.1 | % | 12,097 | 16.1 | % | 315 | 0.4 | % | 2,658 | 1,149 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
United States | 318 | 26.3 | % | 26.3 | % | 259 | 27.4 | % | 5,458 | 11.5 | % | 59 | 21.6 | % | 305 | 267 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Worldwide | 954 | 17.7 | % | 16.3 | % | 580 | 26.7 | % | 17,555 | 14.7 | % | 374 | 3.2 | % | 2,963 | 1,416 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
For the 3 Months ended March 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GDV (Bil.) | Growth (USD) | Growth (Local) | Purchase Volume (Bil.) | Growth (Local) | Purchase Trans. (Mil.) | Purchase Trans. Growth | Cash Volume (Bil.) | Growth (Local) | Cash Trans. (Mil.) | Cards (Mil.) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
All Mastercard Credit, Charge and Debit Programs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APMEA | $ | 472 | 2.9 | % | 5.7 | % | $ | 310 | 4.5 | % | 6,319 | 13.0 | % | $ | 162 | 8.1 | % | 1,728 | 850 | |||||||||||||||||||||||||||||||||||||||||||||||||
Canada | 40 | 3.1 | % | 4.1 | % | 39 | 4.2 | % | 653 | 7.0 | % | 2 | 0.5 | % | 5 | 61 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Europe | 467 | 9.1 | % | 12.4 | % | 313 | 12.6 | % | 10,232 | 23.2 | % | 154 | 11.9 | % | 1,059 | 607 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Latin America | 107 | 1.9 | % | 12.5 | % | 70 | 16.9 | % | 2,914 | 17.8 | % | 37 | 4.9 | % | 288 | 215 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Worldwide less United States | 1,086 | 5.4 | % | 9.1 | % | 732 | 9.0 | % | 20,118 | 18.5 | % | 355 | 9.3 | % | 3,081 | 1,733 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
United States | 479 | 6.3 | % | 6.3 | % | 420 | 7.2 | % | 7,357 | 6.7 | % | 59 | 0.2 | % | 306 | 478 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Worldwide | 1,565 | 5.6 | % | 8.2 | % | 1,152 | 8.3 | % | 27,475 | 15.1 | % | 414 | 8.0 | % | 3,388 | 2,211 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Mastercard Credit and Charge Programs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Worldwide less United States | 528 | (0.4) | % | 3.8 | % | 488 | 3.4 | % | 9,699 | 12.6 | % | 40 | 8.9 | % | 179 | 705 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
United States | 227 | 7.0 | % | 7.0 | % | 217 | 6.6 | % | 2,464 | 9.5 | % | 10 | 14.2 | % | 9 | 243 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Worldwide | 755 | 1.7 | % | 4.7 | % | 705 | 4.4 | % | 12,164 | 11.9 | % | 50 | 9.9 | % | 188 | 948 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Mastercard Debit Programs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Worldwide less United States | 558 | 11.4 | % | 14.6 | % | 244 | 22.0 | % | 10,418 | 24.6 | % | 315 | 9.4 | % | 2,902 | 1,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
United States | 252 | 5.6 | % | 5.6 | % | 203 | 7.7 | % | 4,893 | 5.4 | % | 49 | (2.3) | % | 298 | 235 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Worldwide | 810 | 9.6 | % | 11.6 | % | 447 | 15.1 | % | 15,311 | 17.7 | % | 363 | 7.7 | % | 3,200 | 1,263 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
APMEA = Asia Pacific / Middle East / Africa | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note that the figures in the preceding tables may not sum due to rounding; growth represents change from the comparable year-ago period. |
![]() | 10 |
![]() | 11 |
in thousands of USD | 2021 q1 | 2020 q1 | change |
---|---|---|---|
net revenue (1) | 4 155 000 | 4 009 000 | +3.6% |
operating expenses: general and administrative (2) | 1 676 000 | 1 494 000 | +12.2% |
operating expenses: advertising and marketing (3) | 119 000 | 154 000 | -22.7% |
operating expenses: depreciation and amortization (4) | 163 000 | 144 000 | +13.2% |
operating expenses: provision for litigation (5) | 0 | 6 000 | -100.0% |
total operating expenses (6) | 1 958 000 | 1 798 000 | +8.9% |
operating income (7) | 2 197 000 | 2 211 000 | -0.6% |
other income -expense: investment income (8) | 1 000 | 16 000 | -93.8% |
other income -expense: gains -losses on equity investments net (9) | 94 000 | -174 000 | +100.0% |
other income -expense: interest expense (10) | -107 000 | -69 000 | |
other income -expense: other income -expense net (11) | 5 000 | 3 000 | +66.7% |
other income -expense: total other income -expense (12) | -7 000 | -224 000 | |
other income -expense: income before income taxes (13) | 2 190 000 | 1 987 000 | +10.2% |
other income -expense: income tax expense (14) | 362 000 | 294 000 | +23.1% |
other income -expense: net income (15) | 1 828 000 | 1 693 000 | +8.0% |
basic earnings per share (16) | 1.84 | 1.68 | +9.5% |
basic weighted-average shares outstanding (17) | 994 | 1 005 | -1.1% |
diluted earnings per share (18) | 1.83 | 1.68 | +8.9% |
diluted weighted-average shares outstanding (19) | 998 | 1 010 | -1.2% |
in thousands of USD | 2021 q1 | change | ||
---|---|---|---|---|
cash and cash equivalents (1) | 7 246 000 | 10 113 000 | -28.3% | current assets |
restricted cash for litigation settlement (2) | 586 000 | 586 000 | 0.0% | current assets |
investments (3) | 489 000 | 483 000 | +1.2% | current assets |
accounts receivable (4) | 2 648 000 | 2 646 000 | +0.1% | current assets |
settlement due from customers (5) | 1 678 000 | 1 706 000 | -1.6% | current assets |
restricted security deposits held for customers (6) | 1 759 000 | 1 696 000 | +3.7% | current assets |
prepaid expenses and other current assets (7) | 1 999 000 | 1 883 000 | +6.2% | current assets |
total current assets (8) | 16 405 000 | 19 113 000 | -14.2% | current assets |
property equipment and right-of-use assets net of accumulated depreciation and amortization of $1 441 and $1 390 respectively (9) | 1 850 000 | 1 902 000 | -2.7% | noncurrent assets |
deferred income taxes (10) | 459 000 | 491 000 | -6.5% | noncurrent assets |
goodwill (11) | 7 051 000 | 4 960 000 | +42.2% | noncurrent assets |
other intangible assets net of accumulated amortization of $1 551 and $1 489 respectively (12) | 3 321 000 | 1 753 000 | +89.4% | noncurrent assets |
other assets (13) | 5 714 000 | 5 365 000 | +6.5% | noncurrent assets |
total assets (14) | 34 800 000 | 33 584 000 | +3.6% | noncurrent assets |
accounts payable (15) | 476 000 | 527 000 | -9.7% | liabilities |
settlement due to customers (16) | 1 297 000 | 1 475 000 | -12.1% | liabilities |
restricted security deposits held for customers (17) | 1 759 000 | 1 696 000 | +3.7% | liabilities |
accrued litigation (18) | 841 000 | 842 000 | -0.1% | liabilities |
accrued expenses (19) | 5 200 000 | 5 430 000 | -4.2% | liabilities |
current portion of long-term debt (20) | 649 000 | 649 000 | 0.0% | liabilities |
other current liabilities (21) | 1 253 000 | 1 228 000 | +2.0% | liabilities |
total current liabilities (22) | 11 475 000 | 11 847 000 | -3.1% | liabilities |
long-term debt (23) | 13 221 000 | 12 023 000 | +10.0% | liabilities |
deferred income taxes (24) | 391 000 | 86 000 | +354.7% | liabilities |
other liabilities (25) | 3 260 000 | 3 111 000 | +4.8% | liabilities |
total liabilities (26) | 28 347 000 | 27 067 000 | +4.7% | liabilities |
redeemable non-controlling interests (27) | 28 000 | 29 000 | -3.4% | liabilities |
additional paid-in-capital (30) | 4 949 000 | 4 982 000 | -0.7% | liabilities |
classa treasury stock at cost 413 and 409 shares respectively (31) | -38 024 000 | -36 658 000 | liabilities | |
retained earnings (32) | 40 140 000 | 38 747 000 | +3.6% | liabilities |
accumulated other comprehensive income -loss (33) | -738 000 | -680 000 | liabilities | |
mastercard incorporated stockholders' equity (34) | 6 327 000 | 6 391 000 | -1.0% | liabilities |
non-controlling interests (35) | 98 000 | 97 000 | +1.0% | liabilities |
total equity (36) | 6 425 000 | 6 488 000 | -1.0% | liabilities |
total liabilities redeemable non-controlling interests and equity (37) | 34 800 000 | 33 584 000 | +3.6% | liabilities |
in thousands of USD | 2021 q1 | 2020 q1 | change |
---|---|---|---|
net income (1) | 1 828 000 | 1 693 000 | +8.0% |
amortization of customer and merchant incentives (2) | 338 000 | 237 000 | +42.6% |
depreciation and amortization (3) | 163 000 | 144 000 | +13.2% |
-gains losses on equity investments net (4) | -94 000 | 174 000 | -154.0% |
share-based compensation (5) | 65 000 | 52 000 | +25.0% |
deferred income taxes (6) | 33 000 | 26 000 | +26.9% |
other (7) | 11 000 | 20 000 | -45.0% |
accounts receivable (8) | -70 000 | -3 000 | |
settlement due from customers (9) | 28 000 | 1 831 000 | -98.5% |
prepaid expenses (10) | -562 000 | -331 000 | |
accrued litigation and legal settlements (11) | -2 000 | -62 000 | |
restricted security deposits held for customers (12) | 63 000 | 148 000 | -57.4% |
accounts payable (13) | -15 000 | -102 000 | |
settlement due to customers (14) | -178 000 | -1 564 000 | |
accrued expenses (15) | -163 000 | -622 000 | |
net change in other assets and liabilities (16) | 18 000 | 218 000 | -91.7% |
net cash provided by operating activities (17) | 1 463 000 | 1 859 000 | -21.3% |
purchases of investment securities available-for-sale (18) | -155 000 | -74 000 | |
purchases of investments held-to-maturity (19) | -38 000 | -45 000 | |
proceeds from sales of investment securities available-for-sale (20) | 72 000 | 179 000 | -59.8% |
proceeds from maturities of investment securities available-for-sale (21) | 23 000 | 64 000 | -64.1% |
proceeds from maturities of investments held-to-maturity (22) | 79 000 | 65 000 | +21.5% |
purchases of property and equipment (23) | -65 000 | -131 000 | |
capitalized software (24) | -79 000 | -78 000 | |
purchases of equity investments (25) | -42 000 | -135 000 | |
acquisition of businesses net of cash acquired (26) | -3 364 000 | 0 | |
settlement of interest rate derivative contracts (27) | 0 | -175 000 | |
other investing activities (28) | 9 000 | -177 000 | +100.0% |
net cash used in investing activities (29) | -3 560 000 | -507 000 | |
purchases of treasury stock (30) | -1 356 000 | -1 383 000 | |
dividends paid (31) | -439 000 | -403 000 | |
proceeds from debt net (32) | 1 282 000 | 3 959 000 | -67.6% |
tax withholdings related to share-based payments (33) | -121 000 | -131 000 | |
cash proceeds from exercise of stock options (34) | 23 000 | 31 000 | -25.8% |
other financing activities (35) | 5 000 | 27 000 | -81.5% |
net cash -used in provided by financing activities (36) | -606 000 | 2 100 000 | -128.9% |
effect of exchange rate changes on cash cash equivalents restricted cash and restricted cash equivalents (37) | -101 000 | -88 000 | |
net increase -decrease in cash cash equivalents restricted cash and restricted cash equivalents (38) | -2 804 000 | 3 364 000 | -183.4% |
cash cash equivalents restricted cash and restricted cash equivalents - beginning of period (39) | 12 419 000 | 8 969 000 | +38.5% |
cash cash equivalents restricted cash and restricted cash equivalents - end of period (40) | 9 615 000 | 12 333 000 | -22.0% |
in thousands of USD | 2021 q1 | 2020 q1 | change |
---|---|---|---|
Revenue | 4 155 000 | 4 009 000 | +3.6% |
Operating profit | 2 197 000 | 2 211 000 | -0.6% |
Net income | 1 828 000 | 1 693 000 | +8.0% |
Depreciation and amortization | 501 000 | 381 000 | +31.5% |
EPS basic | 1.84 | 1.68 | +9.5% |
in thousands of USD | 2021 q1 | change | |
Total assets | 34 800 000 | 33 584 000 | +3.6% |
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