Mastercard Q2 2024: Revenue Hits $7.79B, Assets $17.2B

TL;DR

**MA $7.79B Q2 REV, $17.2B ASSETS. SOLID PERFORMANCE.**

AI Summary

Mastercard Inc. reported its Q2 2024 results, with net revenue reaching $7.794 billion for the six months ended June 30, 2024. The company's operating income was $6.262 billion for the same period. As of June 30, 2024, Mastercard had total assets of $17.216 billion and total liabilities of $7.663 billion.

Why It Matters

This filing provides insight into Mastercard's financial health and operational performance, impacting investors and the broader financial services industry.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report for a well-established company with no immediate red flags.

Key Numbers

• $7.794B — Net Revenue (Six months ended June 30, 2024)
• $6.262B — Operating Income (Six months ended June 30, 2024)
• $17.216B — Total Assets (As of June 30, 2024)
• $7.663B — Total Liabilities (As of June 30, 2024)

Key Players & Entities

• Mastercard Inc. (company) — Filer
• $7.794 billion (dollar_amount) — Net revenue for the six months ended June 30, 2024
• $6.262 billion (dollar_amount) — Operating income for the six months ended June 30, 2024
• $17.216 billion (dollar_amount) — Total assets as of June 30, 2024
• $7.663 billion (dollar_amount) — Total liabilities as of June 30, 2024
• 2000 PURCHASE STREET (location) — Business and mailing address
• PURCHASE, NY 10577 (location) — Business and mailing address

FAQ

Key Financial Figures

• $0.0001 — tered Class A Common Stock, par value $0.0001 per share MA New York Stock Exchange

Filing Documents

• ma-20240630.htm (10-Q) — 1824KB
• exb101-06302024.htm (EX-10.1) — 33KB
• exb102-06302024.htm (EX-10.2) — 32KB
• exb311-06302024.htm (EX-31.1) — 11KB
• exb312-06302024.htm (EX-31.2) — 11KB
• exb321-06302024.htm (EX-32.1) — 5KB
• exb322-06302024.htm (EX-32.2) — 5KB
• exb991-06302024.htm (EX-99.1) — 4KB
• ma-20240630_g1.jpg (GRAPHIC) — 30KB
• ma-20240630_g2.jpg (GRAPHIC) — 6KB
• 0001141391-24-000161.txt ( ) — 8917KB
• ma-20240630.xsd (EX-101.SCH) — 63KB
• ma-20240630_cal.xml (EX-101.CAL) — 98KB
• ma-20240630_def.xml (EX-101.DEF) — 261KB
• ma-20240630_lab.xml (EX-101.LAB) — 682KB
• ma-20240630_pre.xml (EX-101.PRE) — 473KB
• ma-20240630_htm.xml (XML) — 1442KB

Management's discussion and analysis of financial condition and results of operations

Management's discussion and analysis of financial condition and results of operations 42 Item 3.

Quantitative and qualitative disclosures about market risk

Quantitative and qualitative disclosures about market risk 43 Item 4.

Controls and procedures

Controls and procedures PART II 45 Item 1.

Legal proceedings

Legal proceedings 45 Item 1A.

Risk factors

Risk factors 45 Item 2. Unregistered sales of equity securities and use of proceeds 45 Item 5. Other information 46 Item 6. Exhibits 47 - Signatures 2 MASTERCARD JUNE 30, 2024 FORM 10-Q In this Report on Form 10-Q ("Report"), references to the "Company," "Mastercard," "we," "us" or "our" refer to the business conducted by Mastercard Incorporated and its consolidated subsidiaries, including our operating subsidiary, Mastercard International Incorporated, and to the Mastercard brand.

Forward-Looking Statements

Forward-Looking Statements This Report contains forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts may be forward-looking statements. When used in this Report, the words "believe", "expect", "could", "may", "would", "will", "trend" and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements that relate to the Company's future prospects, developments and business strategies. Many factors and uncertainties relating to our operations and business environment, all of which are difficult to predict and many of which are outside of our control, influence whether any forward-looking statements can or will be achieved. Any one of those factors could cause our actual results to differ materially from those expressed or implied in writing in any forward-looking statements made by Mastercard or on its behalf, including, but not limited to, the following factors: regulation related to the payments industry (including regulatory, legislative and litigation activity with respect to interchange rates and surcharging) the impact of preferential or protective government actions regulation of privacy, data, AI, information security and the digital economy regulation that directly or indirectly applies to us based on our participation in the global payments industry (including anti-money laundering, countering the financing of terrorism, economic sanctions and anti-corruption, account-based payments systems, and issuer and acquirer practices regulation) the impact of changes in tax laws, as well as regulations and interpretations of such laws or challenges to our tax positions potential or incurred liability and limitations on business related to any litigation or litigation settlements the impact of competition in the global payments industry (including di

Consolidated financial statements (unaudited)

Item 1. Consolidated financial statements (unaudited)

Management's discussion and analysis of financial condition and results of operations

Item 2. Management's discussion and analysis of financial condition and results of operations

Quantitative and qualitative disclosures about market risk

Item 3. Quantitative and qualitative disclosures about market risk

Controls and procedures

Item 4. Controls and procedures PART I

CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Consolidated financial statements (unaudited)

Item 1. Consolidated financial statements (unaudited) Mastercard Incorporated Index to consolidated financial statements (unaudited) Page Consolidated Statement of Operations — Three and Six Months Ended June 30, 2024 and 2023 6 Consolidated Statement of Comprehensive Income — Three and Six Months Ended June 30, 2024 and 2023 7 Consolidated Balance Sheet — J une 3 0 , 2024 and December 31, 2023 8 Consolidated Statement of Changes in Equity — Three and Six Months Ended June 30, 2024 and 2023 9 Consolidated Statement of Cash Flows — Six Months Ended June 30, 2024 and 2023 11

Notes to consolidated financial statements

Notes to consolidated financial statements 12 MASTERCARD JUNE 30, 2024 FORM 10-Q 5 PART I

CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Consolidated Statement of Operations (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions, except per share data) Net Revenue $ 6,961 $ 6,269 $ 13,309 $ 12,017 Operating Expenses: General and administrative 2,418 2,200 4,704 4,243 Advertising and marketing 184 201 300 368 Depreciation and amortization 225 192 441 383 Provision for litigation 98 20 224 231 Total operating expenses 2,925 2,613 5,669 5,225 Operating income 4,036 3,656 7,640 6,792 Other Income (Expense): Investment income 60 59 155 114 Gains (losses) on equity investments, net ( 13 ) 123 ( 7 ) ( 89 ) Interest expense ( 153 ) ( 144 ) ( 303 ) ( 276 ) Other income (expense), net 9 10 12 16 Total other income (expense) ( 97 ) 48 ( 143 ) ( 235 ) Income before income taxes 3,939 3,704 7,497 6,557 Income tax expense 681 859 1,228 1,351 Net Income $ 3,258 $ 2,845 $ 6,269 $ 5,206 Basic Earnings per Share $ 3.51 $ 3.01 $ 6.74 $ 5.48 Basic weighted-average shares outstanding 929 946 931 949 Diluted Earnings per Share $ 3.50 $ 3.00 $ 6.72 $ 5.47 Diluted weighted-average shares outstanding 930 949 933 952 The accompanying notes are an integral part of these consolidated financial statements. 6 MASTERCARD JUNE 30, 2024 FORM 10-Q PART I

CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Consolidated Statement of Comprehensive Income (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions) Net Income $ 3,258 $ 2,845 $ 6,269 $ 5,206 Other comprehensive income (loss): Foreign currency translation adjustments ( 46 ) 53 ( 214 ) 147 Income tax effect 18 — 27 ( 14 ) Foreign currency translation adjustments, net of income tax effect ( 28 ) 53 ( 187 ) 133 Translation adjustments on net investment hedges 2 ( 11 ) 49 ( 85 ) Income tax effect — 2 ( 11 ) 19 Translation adjustments on net investment hedges, net of income tax effect 2 ( 9 ) 38 ( 66 ) Cash flow hedges 91 ( 14 ) 113 ( 24 ) Income tax effect ( 3 ) 6 ( 8 ) 6 Reclassification adjustments for cash flow hedges ( 68 ) 9 ( 63 ) 17 Income tax effect 1 ( 5 ) ( 1 ) ( 4 ) Cash flow hedges, net of income tax effect 21 ( 4 ) 41 ( 5 ) Defined benefit pension and other postretirement plans 2 — 2 — Income tax effect — — — — Reclassification adjustments for defined benefit pension and other postretirement plans — — — — Income tax effect — — — — Defined benefit pension and other postretirement plans, net of income tax effect 2 — 2 — Investment securities available-for-sale — — — 2 Income tax effect — — — — Investment securities available-for-sale, net of income tax effect — — — 2 Other comprehensive income (loss), net of income tax effect ( 3 ) 40 ( 106 ) 64 Comprehensive Income $ 3,255 $ 2,885 $ 6,163 $ 5,270 The accompanying notes are an integral part of these consolidated financial statements. MASTERCARD JUNE 30, 2024 FORM 10-Q 7 PART I

CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Consolidated Balance Sheet (Unaudited) June 30, 2024 December 31, 2023 (in millions, except per share data) Assets Current assets: Cash and cash equivalents $ 6,996 $ 8,588 Restricted security deposits held for customers 1,772 1,845 Investments 362 592 Accounts receivable 4,195 4,060 Settlement assets 1,514 1,233 Prepaid expenses and other current assets 2,941 2,643 Total current assets 17,780 18,961 Property, equipment and right-of-use assets, net of accumulated depreciation and amortization of $ 2,373 and $ 2,237 , respectively 2,148 2,061 Deferred income taxes 1,423 1,355 Goodwill 7,563 7,660 Other intangible assets, net of accumulated amortization of $ 2,290 and $ 2,209 , respectively 4,149 4,086 Other assets 9,270 8,325 Total Assets $ 42,333 $ 42,448 Liabilities, Redeemable Non-controlling Interests and Equity Current liabilities: Accounts payable $ 835 $ 834 Settlement obligations 1,594 1,399 Restricted security deposits held for customers 1,772 1,845 Accrued litigation 525 723 Accrued expenses 8,007 8,517 Short-term debt 1,086 1,337 Other current liabilities 1,775 1,609 Total current liabilities 15,594 16,264 Long-term debt 14,519 14,344 Deferred income taxes 337 369 Other liabilities 4,401 4,474 Total Liabilities 34,851 35,451 Commitments and Contingencies Redeemable Non-controlling Interests 22 22 Stockholders' Equity Class A common stock, $ 0.0001 par value; authorized 3,000 shares, 1,403 and 1,402 shares issued and 919 and 927 shares outstanding, respectively — — Class B common stock, $ 0.0001 par value; authorized 1,200 shares, 7 shares issued and outstanding — — Additional paid-in-capital 6,089 5,893 Class A treasury stock, at cost, 485 and 475 shares, respectively ( 65,067 ) ( 60,429 ) Retained earnings 67,604 62,564 Accumulated other comprehensive income (loss) ( 1,205 ) ( 1,099 ) Mastercard Incorporated Stockholders' Equity 7,421 6,929 Non-control

CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Consolidated Statement of Changes in Equity (Unaudited) Stockholders' Equity Common Stock Additional Paid-In Capital Class A Treasury Stock Retained Earnings Accumulated Other Comprehensive Income (Loss) Mastercard Incorporated Stockholders' Equity Non- Controlling Interests Total Equity Class A Class B (in millions) Three Months Ended June 30, 2024 Balance at beginning of period $ — $ — $ 5,920 $ ( 62,434 ) $ 64,959 $ ( 1,202 ) $ 7,243 $ 43 $ 7,286 Net income — — — — 3,258 — 3,258 — 3,258 Activity related to non-controlling interests — — — — — — — ( 4 ) ( 4 ) Redeemable non-controlling interest adjustments — — — — ( 2 ) — ( 2 ) — ( 2 ) Other comprehensive income (loss) — — — — — ( 3 ) ( 3 ) — ( 3 ) Dividends — — — — ( 611 ) — ( 611 ) — ( 611 ) Purchases of treasury stock — — — ( 2,633 ) — — ( 2,633 ) — ( 2,633 ) Share-based payments — — 169 — — — 169 — 169 Balance at end of period $ — $ — $ 6,089 $ ( 65,067 ) $ 67,604 $ ( 1,205 ) $ 7,421 $ 39 $ 7,460 Six Months Ended June 30, 2024 Balance at beginning of period $ — $ — $ 5,893 $ ( 60,429 ) $ 62,564 $ ( 1,099 ) $ 6,929 $ 46 $ 6,975 Net income — — — — 6,269 — 6,269 — 6,269 Activity related to non-controlling interests — — — — — — — ( 7 ) ( 7 ) Redeemable non-controlling interest adjustments — — — — ( 3 ) — ( 3 ) — ( 3 ) Other comprehensive income (loss) — — — — — ( 106 ) ( 106 ) — ( 106 ) Dividends — — — — ( 1,226 ) — ( 1,226 ) — ( 1,226 ) Purchases of treasury stock — — — ( 4,646 ) — — ( 4,646 ) — ( 4,646 ) Share-based payments — — 196 8 — — 204 — 204 Balance at end of period $ — $ — $ 6,089 $ ( 65,067 ) $ 67,604 $ ( 1,205 ) $ 7,421 $ 39 $ 7,460 MASTERCARD JUNE 30, 2024 FORM 10-Q 9 PART I

CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Consolidated Statement of Changes in Equity (Unaudited) - (Continued) Stockholders' Equity Common Stock Additional Paid-In Capital Class A Treasury Stock Retained Earnings Accumulated Other Comprehensive Income (Loss) Mastercard Incorporated Stockholders' Equity Non- Controlling Interests Total Equity Class A Class B (in millions) Three Months Ended June 30, 2023 Balance at beginning of period $ — $ — $ 5,376 $ ( 54,241 ) $ 55,424 $ ( 1,229 ) $ 5,330 $ 56 $ 5,386 Net income — — — — 2,845 — 2,845 — 2,845 Activity related to non-controlling interests — — — — — — — ( 3 ) ( 3 ) Redeemable non-controlling interest adjustments — — — — ( 1 ) — ( 1 ) — ( 1 ) Other comprehensive income (loss) — — — — — 40 40 — 40 Dividends — — — — ( 538 ) — ( 538 ) — ( 538 ) Purchases of treasury stock — — — ( 2,423 ) — — ( 2,423 ) — ( 2,423 ) Share-based payments — — 246 5 — — 251 — 251 Balance at end of period $ — $ — $ 5,622 $ ( 56,659 ) $ 57,730 $ ( 1,189 ) $ 5,504 $ 53 $ 5,557 Six Months Ended June 30, 2023 Balance at beginning of period $ — $ — $ 5,298 $ ( 51,354 ) $ 53,607 $ ( 1,253 ) $ 6,298 $ 58 $ 6,356 Net income — — — — 5,206 — 5,206 — 5,206 Activity related to non-controlling interests — — — — — — — ( 5 ) ( 5 ) Redeemable non-controlling interest adjustments — — — — ( 4 ) — ( 4 ) — ( 4 ) Other comprehensive income (loss) — — — — — 64 64 — 64 Dividends — — — — ( 1,079 ) — ( 1,079 ) — ( 1,079 ) Purchases of treasury stock — — — ( 5,317 ) — — ( 5,317 ) — ( 5,317 ) Share-based payments — — 324 12 — — 336 — 336 Balance at end of period $ — $ — $ 5,622 $ ( 56,659 ) $ 57,730 $ ( 1,189 ) $ 5,504 $ 53 $ 5,557 The accompanying notes are an integral part of these consolidated financial statements. 10 MASTERCARD JUNE 30, 2024 FORM 10-Q PART I

CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Consolidated Statement of Cash Flows (Unaudited) Six Months Ended June 30, 2024 2023 (in millions) Operating Activities Net income $ 6,269 $ 5,206 Adjustments to reconcile net income to net cash provided by operating activities: Amortization of customer incentives 826 782 Depreciation and amortization 441 383 (Gains) losses on equity investments, net 7 89 Share-based compensation 263 243 Deferred income taxes ( 93 ) 24 Other 80 37 Changes in operating assets and liabilities: Accounts receivable ( 234 ) ( 268 ) Settlement assets ( 284 ) ( 108 ) Prepaid expenses ( 1,980 ) ( 1,286 ) Accrued litigation and legal settlements ( 197 ) ( 20 ) Restricted security deposits held for customers ( 73 ) 155 Accounts payable 9 ( 287 ) Settlement obligations 199 31 Accrued expenses ( 415 ) ( 707 ) Net change in other assets and liabilities ( 8 ) 343 Net cash provided by operating activities 4,810 4,617 Investing Activities Purchases of investment securities available-for-sale ( 219 ) ( 157 ) Purchases of investments held-to-maturity ( 81 ) ( 31 ) Proceeds from sales of investment securities available-for-sale 58 45 Proceeds from maturities of investment securities available-for-sale 139 102 Proceeds from maturities of investments held-to-maturity 306 91 Purchases of property and equipment ( 272 ) ( 190 ) Capitalized software ( 402 ) ( 395 ) Purchases of equity investments ( 18 ) ( 53 ) Proceeds from sales of equity investments 23 44 Other investing activities ( 2 ) ( 71 ) Net cash used in investing activities ( 468 ) ( 615 ) Financing Activities Purchases of treasury stock ( 4,631 ) ( 5,294 ) Dividends paid ( 1,231 ) ( 1,086 ) Proceeds from debt, net 983 1,550 Payment of debt ( 1,000 ) — Tax withholdings related to share-based payments ( 174 ) ( 79 ) Cash proceeds from exercise of stock options 115 172 Other financing activities — 3 Net cash used in financing activities ( 5,938 )

CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Notes to consolidated financial statements (unaudited)

Notes to consolidated financial statements (unaudited) Note 1. Summary of Significant Accounting Policies Organization Mastercard Incorporated and its consolidated subsidiaries, including Mastercard International Incorporated ("Mastercard International" and together with Mastercard Incorporated, "Mastercard" or the "Company"), is a technology company in the global payments industry. Mastercard connects consumers, financial institutions, merchants, governments, digital partners, businesses and other organizations worldwide by enabling electronic payments and making those payment transactions safe, simple, smart and accessible. Consolidation and Basis of Presentation The consolidated financial statements include the accounts of Mastercard and its majority-owned and controlled entities, including any variable interest entities ("VIEs") for which the Company is the primary beneficiary. Investments in VIEs for which the Company is not considered the primary beneficiary are not consolidated and are accounted for as marketable, equity method or measurement alternative method investments and recorded in other assets on the consolidated balance sheet. At June 30, 2024 and December 31, 2023, there were no significant VIEs that required consolidation and the investment s were not considered material to the consolidated financial statements. The Company consolidates acquisitions as of the date the Company has obtained a controlling financial interest. Intercompany transactions and balances have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the 2024 presentation. The reclassification had no impact on previously reported total net revenue, operating income or net income. The Company follows accounting principles generally accepted in the United States of America ("GAAP"). The balance sheet as of December 31, 2023 was derived from the audited consolidated financial statements as of December 31, 2023. The consolidated fin

CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The Company's customers are generally billed weekly, with certain billings occurring on a monthly and quarterly basis. The frequency of billing is dependent upon the nature of the performance obligation and the underlying contractual terms. The Company does not typically offer extended payment terms to customers. The following table sets forth the location of the amounts recognized on the consolidated balance sheet from contracts with customers: June 30, 2024 December 31, 2023 (in millions) Receivables from contracts with customers Accounts receivable $ 3,991 $ 3,851 Contract assets Prepaid expenses and other current assets 133 133 Other assets 434 387 Deferred revenue 1 Other current liabilities 711 459 Other liabilities 333 318 1 Revenue recognized from performance obligations satisfied during the three and six months ended June 30, 2024 were $ 569 million and $ 1,079 million, respectively . Note 3. Earnings Per Share The components of basic and diluted earnings per share ("EPS") for common shares were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in millions, except per share data) Numerator Net income $ 3,258 $ 2,845 $ 6,269 $ 5,206 Denominator Basic weighted-average shares outstanding 929 946 931 949 Dilutive stock options and stock units 2 2 2 3 Diluted weighted-average shares outstanding 1 930 949 933 952 Earnings per Share Basic $ 3.51 $ 3.01 $ 6.74 $ 5.48 Diluted $ 3.50 $ 3.00 $ 6.72 $ 5.47 Note: Table may not sum due to rounding. 1 For the periods presented, the calculation of diluted EPS excluded a minimal amount of anti-dilutive share-based payment awards. Note 4. Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents The following table provides the components of cash, cash equivalents, restricted cash and restricted cash equivalents reported on the consolida

CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note 5. Investments The Company's investments on the consolidated balance sheet include both available-for-sale and held-to-maturity debt securities (see Investments section below). The Company's strategic investments in equity securities of publicly traded and privately held companies are classified within other assets on the consolidated balance sheet (see Equity Investments section below). Investments Investments on the consolidated balance sheet consisted of the following: June 30, 2024 December 31, 2023 (in millions) Available-for-sale securities $ 290 $ 286 Held-to-maturity securities 1 72 306 Total investments $ 362 $ 592 1 Held-to-maturity securities represent investments in time deposits that mature within one year. The cost of these securities approximates fair value. Investment income on the consolidated statement of operations primarily consists of interest income generated from cash, cash equivalents, held-to maturity and available-for-sale investment securities, as well as realized gains and losses on the Company's investment securities. The realized gains and losses from the sales of available-for-sale securities for the three and six months ended June 30, 2024 and 2023 were not material. Available-for-Sale Securities The major classes of the Company's available-for-sale investment securities and their respective amortized cost basis and fair values were as follows: June 30, 2024 December 31, 2023 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value (in millions) Government and agency securities $ 87 $ — $ — $ 87 $ 86 $ — $ — $ 86 Corporate securities 203 — — 203 200 1 ( 1 ) 200 Total $ 290 $ — $ — $ 290 $ 286 $ 1 $ ( 1 ) $ 286 The Company's government and agency securities include U.S. government bonds, U.S. government sponsored agency bonds

CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Equity Investments Included in other assets on the consolidated balance sheet are equity investments with readily determinable fair values ("Marketable securities") and equity investments without readily determinable fair values ("Nonmarketable securitie

View Full Filing

View this 10-Q filing on SEC EDGAR