v3.22.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Accounting Standards Update and Change in Accounting Principle
The following tables present the effects of the changes in presentation within the consolidated balance sheets and statements of cash flows (in thousands):
As of and for the Year Ended December 31, 2021
As Previously Reported
AdjustmentAs Adjusted
Consolidated Balance Sheets
Customer custodial funds$10,526,233 $91,319 $10,617,552 
Accounts and loans receivable, net of allowance396,025 (91,319)304,706 
Consolidated Statements of Cash Flows
Cash flows from operating activities
Accounts and loans receivable$(8,016)$36,527 $28,511 
Deposits in transit— (36,527)(36,527)
Customer custodial cash liabilities6,691,859 (6,691,859)— 
Net cash provided by operating activities10,730,031 (6,691,859)4,038,172 
Cash flows from financing activities
Customer custodial cash liabilities$— $6,691,859 $6,691,859 
Net cash provided by financing activities3,284,225 6,691,859 9,976,084 
For the Year Ended December 31, 2020
As Previously Reported
AdjustmentAs Adjusted
Consolidated Statements of Cash Flows
Cash flows from operating activities
Accounts and loans receivable$(157,156)$39,989 $(117,167)
Deposits in transit— (39,989)(39,989)
Customer custodial cash liabilities2,710,522 (2,710,522)— 
Net cash provided by operating activities3,004,070 (2,710,522)293,548 
Cash flows from financing activities
Customer custodial cash liabilities$— $2,710,522 $2,710,522 
Net cash provided by financing activities18,801 2,710,522 2,729,323 
Schedule of property and equipment The estimated useful lives of the Company’s property, equipment, and software are generally as follows:
Property and EquipmentUseful Life
Furniture and fixtures
Three to five years
Computer equipment
Two to five years
Leasehold improvements
Lesser of useful life or remaining lease term
Capitalized software
One to three years
Property and equipment consisted of the following (in thousands):
December 31,
20222021
Furniture and fixtures$7,217 $7,307 
Construction in progress163 535 
Computers and equipment5,852 3,542 
Leasehold improvements45,099 43,048 
Capitalized software198,537 47,044 
Total cost256,868 101,476 
Accumulated depreciation and amortization(85,015)(42,246)
Total, net$171,853 $59,230