Unit 5: Individual Assignment – Ratio Analysis
Introduction
In units 2 and 3 you worked on ratio calculations and received feedback on these assignments. In this unit, you will provide a brief written analysis of the ratios for Mastercard. Evaluation should be submitted in an MS Word document of at least 2 pages and no more than three pages and be concise, clear and professional.
This is an Individual Assignment
Directions
Evaluation of Mastercard should include:
- A discussion of the ratios calculated in relation to the respective financial diagnostic categories (profitability, liquidity, leverage, operating returns).
- Discuss the importance of the ratio in financial analysis.
- Other information pertinent to Mastercard which could affect their future performance and stock price.
Unit 5: Individual Assignment – Ratio Analysis
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Introduction
In units 2 and 3 you worked on ratio calculations and received feedback on these assignments. In this unit, you will provide a brief written analysis of the ratios for Mastercard. Evaluation should be submitted in an MS Word document of at least 2 pages and no more than three pages and be concise, clear and professional.
Directions
Evaluation of Mastercard should include:
1. A discussion of the ratios calculated in relation to the respective financial diagnostic categories (profitability, liquidity, leverage, operating returns).
2. Discuss the importance of the ratio in financial analysis.
3. Other information pertinent to Mastercard which could affect their future performance and stock price.
Week 2 Review
Your work was good. You have placed your ratio calculations in the PayPal Financial MS Excel on the Ratios sheet for 2013 -2015. You have provided the formula used to calculate each ratio in the column to the right of your calculations. Your work was clear and complete.
Mitchell Miller , Jan 24 at 8:38am
Week 3 Review
Your work was good. You have placed your ratio calculations in the MS Excel table template for Mastercard for 2017 -2019. You have provided the formula used to calculate each ratio in the column to the right of your calculations. Your work was clear and complete.
Mitchell Miller , Feb 6 at 2:31pm
Research Project – Ratio Analysis
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Research Project – Ratio Analysis |
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Criteria |
Ratings |
Pts |
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This criterion is linked to a Learning OutcomeWritten Evaluation |
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Ratios
| 2013 | 2014 | 2015 | FORMULA | ||
| PROFITABILITY RATIOS | |||||
| PYPL GROSS MARGIN | 65.26% | 64.91% | 63.03% | Gross Profit / Sales | |
| PYPL OPERATION MARGIN | -49.04% | -49.11% | -46.71% | Operating Earnings/Sales Revenue | |
| PYPL NETPROFIT MARGIN | 14.20% | 5.22% | 13.28% | Net Profit / Total Revenue | |
| LIQUIDITY RATIO | |||||
| PYPL CURRENT RATIO | 1.24 | 1.29 | 1.37 | Current Assets / Current Liabilities | |
| PYPL CASH RATIO | 0.17 | 0.17 | 0.25 | (Cash and cash equivalents + Marketable securities) ÷ Current liabilities | |
| LEVERAGE RATIOS | |||||
| PYPL DEBT TO EQUITY | 1.59 | 1.66 | 1.10 | Total Liabilities/Shareholder Equity | |
| OPERATION RETURNS | |||||
| PYPL ROE | 12.92% | 5.08% | 8.93% | Net Income / Shareholders’ Equity | |
| PYPL ROA | 4.98% | 1.91% | 4.25% | Net Income / Total Assets |
Income Statement
| PYPL_income-statement_Annual_As_Originally_Reported | 2013 | 2014 | 2015 |
| Gross Profit | 4,390,000,000 | 5,209,000,000 | 5,829,000,000 |
| Total Revenue | 6,727,000,000 | 8,025,000,000 | 9,248,000,000 |
| Business Revenue | 6,727,000,000 | 8,025,000,000 | 9,248,000,000 |
| Cost of Revenue | -2,337,000,000 | -2,816,000,000 | -3,419,000,000 |
| Cost of Goods and Services | -2,337,000,000 | -2,816,000,000 | -3,419,000,000 |
| Other Cost of Revenue | |||
| Operating Income/Expenses | -3,299,000,000 | -3,941,000,000 | -4,320,000,000 |
| Selling, General and Administrative Expenses | -2,119,000,000 | -2,535,000,000 | -2,765,000,000 |
| General and Administrative Expenses | -1,328,000,000 | -1,537,000,000 | -1,780,000,000 |
| Selling and Marketing Expenses | -791,000,000 | -998,000,000 | -985,000,000 |
| Research and Development Expenses | -727,000,000 | -890,000,000 | -947,000,000 |
| Depreciation, Amortization and Depletion | -453,000,000 | -516,000,000 | -608,000,000 |
| Depreciation and Amortization | -453,000,000 | -516,000,000 | -608,000,000 |
| Total Operating Profit/Loss | 1,091,000,000 | 1,268,000,000 | 1,509,000,000 |
| Non-Operating Income/Expenses, Total | -7,000,000 | -7,000,000 | -21,000,000 |
| Total Net Finance Income/Expense | |||
| Net Interest Income/Expense | |||
| Interest Expense Net of Capitalized Interest | |||
| Interest Income | |||
| Net Investment Income | |||
| Gain/Loss on Investments and Other Financial Instruments | |||
| Irregular Income/Expenses | 0 | 0 | -48,000,000 |
| Restructuring and Reorganization Income/Expense | 0 | 0 | -48,000,000 |
| Other Income/Expense, Non-Operating | -7,000,000 | -7,000,000 | 27,000,000 |
| Pretax Income | 1,084,000,000 | 1,261,000,000 | 1,488,000,000 |
| Provision for Income Tax | -129,000,000 | -842,000,000 | -260,000,000 |
| Net Income from Continuing Operations | 955,000,000 | 419,000,000 | 1,228,000,000 |
| Net Income after Extraordinary Items and Discontinued Operations | 955,000,000 | 419,000,000 | 1,228,000,000 |
| Net Income after Non-Controlling/Minority Interests | 955,000,000 | 419,000,000 | 1,228,000,000 |
| Net Income Available to Common Stockholders | 955,000,000 | 419,000,000 | 1,228,000,000 |
| Diluted Net Income Available to Common Stockholders | 955,000,000 | 419,000,000 | 1,228,000,000 |
| Total Revenue as Reported, Supplemental | 6,727,000,000 | 8,025,000,000 | 9,248,000,000 |
| Operating Expense as Reported, Supplemental | -5,636,000,000 | -6,757,000,000 | -7,787,000,000 |
| Total Operating Profit/Loss as Reported, Supplemental | 1,091,000,000 | 1,268,000,000 | 1,461,000,000 |
| Reported Effective Tax Rate | 0.119 | 0.67 | 0.175 |
| Reported Normalized Income | 1,186,000,000 | 1,343,000,000 | 1,588,000,000 |
| Reported Normalized Operating Profit | 1,411,000,000 | 1,648,000,000 | 1,975,000,000 |
| Basic EPS | 0.31 | 1.00 | |
| Basic EPS from Continuing Operations | 0.31 | 1.00 | |
| Diluted EPS | 0.31 | 1.00 | |
| Diluted EPS from Continuing Operations | 0.31 | 1.00 | |
| Basic Weighted Average Shares Outstanding | 1,251,000,000 | 1,222,000,000 | |
| Diluted Weighted Average Shares Outstanding | 1,262,000,000 | 1,229,000,000 | |
| Reported Normalized Diluted EPS | 1.10 | 1.29 | |
| Basic EPS | 0.31 | 1.00 | |
| Diluted EPS | 0.31 | 1.00 | |
| Basic WASO | 1,251,000,000 | 1,222,000,000 | |
| Diluted WASO | 1,262,000,000 | 1,229,000,000 | |
| Fiscal year ends in Dec 31 | USD |
Balance Sheet
| PYPL_balance-sheet_Annual_As_Originally_Reported | 2013 | 2014 | 2015 |
| Total Assets | 19,160,000,000 | 21,917,000,000 | 28,881,000,000 |
| Total Current Assets | 14,620,000,000 | 17,565,000,000 | 20,648,000,000 |
| Cash, Cash Equivalents and Short Term Investments | 1,925,000,000 | 2,230,000,000 | 3,411,000,000 |
| Cash and Cash Equivalents | 1,604,000,000 | 2,201,000,000 | 1,393,000,000 |
| Short Term Investments | 321,000,000 | 29,000,000 | 2,018,000,000 |
| Trade and Other Receivables, Current | 12,428,000,000 | 14,957,000,000 | 16,582,000,000 |
| Trade/Accounts Receivable, Current | 9,329,000,000 | 10,677,000,000 | 12,398,000,000 |
| Loans Receivable, Current | 2,789,000,000 | 3,586,000,000 | 4,184,000,000 |
| Notes Receivable, Current | 310,000,000 | 694,000,000 | 0 |
| Prepayments and Deposits, Current | 655,000,000 | ||
| Other Current Assets | 267,000,000 | 378,000,000 | |
| Total Non-Current Assets | 4,540,000,000 | 4,352,000,000 | 8,233,000,000 |
| Net Property, Plant and Equipment | 858,000,000 | 922,000,000 | 1,344,000,000 |
| Gross Property, Plant and Equipment | 2,403,000,000 | 2,862,000,000 | 3,849,000,000 |
| Properties | 328,000,000 | 348,000,000 | 649,000,000 |
| Land and Improvements | 162,000,000 | 162,000,000 | 352,000,000 |
| Leasehold and Improvements | 166,000,000 | 186,000,000 | |
| Buildings and Improvements | 297,000,000 | ||
| Machinery, Furniture and Equipment | 1,983,000,000 | 2,350,000,000 | 3,067,000,000 |
| Furniture, Fixtures and Office Equipment | 1,983,000,000 | 2,350,000,000 | 3,067,000,000 |
| Construction in Progress and Advance Payments | 92,000,000 | 164,000,000 | 133,000,000 |
| Accumulated Depreciation and Impairment | -1,545,000,000 | -1,940,000,000 | -2,505,000,000 |
| Accumulated Depreciation | -1,545,000,000 | -1,940,000,000 | -2,505,000,000 |
| Net Intangible Assets | 3,445,000,000 | 3,345,000,000 | 4,427,000,000 |
| Gross Goodwill and Other Intangible Assets | 4,185,000,000 | 4,162,000,000 | 5,359,000,000 |
| Goodwill | 3,187,000,000 | 3,189,000,000 | 4,069,000,000 |
| Intangibles other than Goodwill | 998,000,000 | 973,000,000 | 1,290,000,000 |
| Software and Technology | 169,000,000 | 167,000,000 | 245,000,000 |
| Other Intangible Assets | 829,000,000 | 806,000,000 | 1,045,000,000 |
| Accumulated Amortization and Impairment | -740,000,000 | -817,000,000 | -932,000,000 |
| Accumulated Amortization of Intangible Assets | -740,000,000 | -817,000,000 | -932,000,000 |
| Accumulated Amortization of Intangibles other than Goodwill | -740,000,000 | -817,000,000 | -932,000,000 |
| Accumulated Amortization of Software and Technology | -136,000,000 | -153,000,000 | -176,000,000 |
| Accumulated Amortization of Other Intangible Assets | -604,000,000 | -664,000,000 | -756,000,000 |
| Total Long Term Investments | 196,000,000 | 31,000,000 | 2,348,000,000 |
| Other Non-Current Assets | 41,000,000 | 54,000,000 | 114,000,000 |
| Total Liabilities | 11,770,000,000 | 13,669,000,000 | 15,122,000,000 |
| Total Current Liabilities | 11,261,000,000 | 13,283,000,000 | 13,617,000,000 |
| Payables and Accrued Expenses, Current | 10,158,000,000 | 12,190,000,000 | 13,617,000,000 |
| Trade and Other Payables, Current | 9,387,000,000 | 10,756,000,000 | 12,438,000,000 |
| Trade/Accounts Payable, Current | 9,350,000,000 | 10,727,000,000 | 12,406,000,000 |
| Taxes Payable, Current | 37,000,000 | 29,000,000 | 32,000,000 |
| Accrued Expenses, Current | 771,000,000 | 1,434,000,000 | 1,179,000,000 |
| Financial Liabilities, Current | 1,103,000,000 | 1,093,000,000 | 0 |
| Current Debt and Capital Lease Obligation | 1,103,000,000 | 1,093,000,000 | 0 |
| Current Debt | 1,103,000,000 | 1,093,000,000 | 0 |
| Notes Payable, Current Debt | 1,103,000,000 | 1,093,000,000 | 0 |
| Total Non-Current Liabilities | 509,000,000 | 386,000,000 | 1,505,000,000 |
| Financial Liabilities, Non-Current | 509,000,000 | 386,000,000 | |
| Long Term Debt and Capital Lease Obligation | 509,000,000 | 386,000,000 | |
| Long Term Debt | 509,000,000 | 386,000,000 | |
| Tax Liabilities, Non-Current | 1,505,000,000 | ||
| Deferred Tax Liabilities, Non-Current | 1,505,000,000 | ||
| Total Equity | 7,390,000,000 | 8,248,000,000 | 13,759,000,000 |
| Equity Attributable to Parent Stockholders | 7,390,000,000 | 8,248,000,000 | 13,759,000,000 |
| Paid in Capital | 13,100,000,000 | ||
| Capital Stock | 13,100,000,000 | ||
| Common Stock | 0 | ||
| Preferred Stock | |||
| Additional Paid in Capital/Share Premium | 13,100,000,000 | ||
| Treasury Stock | |||
| Retained Earnings/Accumulated Deficit | 668,000,000 | ||
| Reserves/Accumulated Comprehensive Income/Losses | -61,000,000 | 110,000,000 | -9,000,000 |
| Other Equity Interest | 7,451,000,000 | 8,138,000,000 | 0 |
| Non-Controlling/Minority Interests | |||
| Debt Maturity Schedule Total | |||
| Debt due in Year 1 | |||
| Debt due in Year 2 | |||
| Debt due in Year 3 | |||
| Debt due in Year 4 | |||
| Debt due in Year 5 | |||
| Debt due Beyond | |||
| Debt – Interests Charges and Other Adjustments | |||
| Operating Lease Obligation Maturity Schedule Total | |||
| Operating Lease due in Year 1 | |||
| Operating Lease due in Year 2 | |||
| Operating Lease due in Year 3 | |||
| Operating Lease due in Year 4 | |||
| Operating Lease due in Year 5 | |||
| Operating Lease due Beyond | |||
| Operating Lease – Interests Charges and Other Adjustments | |||
| Other Contractual Obligations Maturity Schedule Total | |||
| Other Contractual Obligations due in Year 1 | |||
| Other Contractual Obligations due in Year 2 | |||
| Other Contractual Obligations due in Year 3 | |||
| Other Contractual Obligations due in Year 4 | |||
| Other Contractual Obligations due in Year 5 | |||
| Other Contractual Obligations due Beyond | |||
| Total Lease Liability | |||
| Total Lease Liability �C Due in year 1 | |||
| Total Lease Liability �C Due in year 2 | |||
| Total Lease Liability �C Due in year 3 | |||
| Total Lease Liability �C Due in year 4 | |||
| Total Lease Liability �C Due in year 5 | |||
| Total Lease Liability �C Beyond | |||
| Total Lease Liability �C Interest Charges and Other Adjustments | |||
| Total Contractual Obligations | |||
| Total Contractual Obligations due in year 1 | |||
| Total Contractual Obligations due in year 2 | |||
| Total Contractual Obligations due in year 3 | |||
| Total Contractual Obligations due in year 4 | |||
| Total Contractual Obligations due in year 5 | |||
| Total Contractual Obligations due Beyond | |||
| Total Contractual Obligations – Interests Charges and Other Adjustments | |||
| Fiscal year ends in Dec 31 | USD |
Cash Flows
| PYPL_cash-flow_Annual_As_Originally_Reported | 2013 | 2014 | 2015 |
| Cash Flow from Operating Activities, Indirect | 1,993,000,000 | 2,220,000,000 | 2,546,000,000 |
| Net Cash Flow from Continuing Operating Activities, Indirect | 1,993,000,000 | 2,220,000,000 | 2,546,000,000 |
| Cash Generated from Operating Activities | 1,993,000,000 | 2,220,000,000 | 2,546,000,000 |
| Income/Loss before Non-Cash Adjustment | 955,000,000 | 419,000,000 | 1,228,000,000 |
| Total Adjustments for Non-Cash Items | 1,184,000,000 | 2,100,000,000 | 1,824,000,000 |
| Depreciation, Amortization and Depletion, Non-Cash Adjustment | 453,000,000 | 516,000,000 | 608,000,000 |
| Depreciation and Amortization, Non-Cash Adjustment | 453,000,000 | 516,000,000 | 608,000,000 |
| Stock-Based Compensation, Non-Cash Adjustment | 253,000,000 | 299,000,000 | 346,000,000 |
| Taxes, Non-Cash Adjustment | 52,000,000 | 680,000,000 | 127,000,000 |
| Other Provisions, Non-Cash Adjustment | 502,000,000 | 646,000,000 | 809,000,000 |
| Net Investment Income/Loss, Non-Cash Adjustment | |||
| Gain/Loss on Financial Instruments, Non-Cash Adjustment | |||
| Unrealized Gain/Loss on Financial Instruments, Non-Cash Adjustment | |||
| Other Non-Cash Items | |||
| Excess Tax Benefit from Stock-Based Compensation, Non-Cash Adjustment | -76,000,000 | -41,000,000 | -26,000,000 |
| Irregular Income/Loss, Non-Cash Adjustment | 0 | -40,000,000 | |
| Gain/Loss on Disposals, Non-Cash Adjustment | 0 | -40,000,000 | |
| Gain/Loss on Disposal/Sale of Other Assets, Non-Cash Adjustment | 0 | -40,000,000 | |
| Changes in Operating Capital | -146,000,000 | -299,000,000 | -506,000,000 |
| Change in Trade and Other Receivables | 80,000,000 | -37,000,000 | 113,000,000 |
| Change in Trade/Accounts Receivable | 1,000,000 | -13,000,000 | -22,000,000 |
| Change in Loans Receivable | 0 | 14,000,000 | |
| Change in Other Receivables | 79,000,000 | 121,000,000 | |
| Change in Notes Receivable | -24,000,000 | ||
| Change in Other Current Assets | -62,000,000 | -384,000,000 | |
| Change in Payables and Accrued Expenses | 71,000,000 | -223,000,000 | -165,000,000 |
| Change in Trade and Other Payables | 71,000,000 | 77,000,000 | -165,000,000 |
| Change in Trade/Accounts Payable | -13,000,000 | 42,000,000 | 12,000,000 |
| Change in Taxes Payable | 41,000,000 | 37,000,000 | 40,000,000 |
| Change in Other Payables | 43,000,000 | -217,000,000 | |
| Change in Trade Notes Payable | -2,000,000 | ||
| Change in Accrued Expenses | -300,000,000 | ||
| Change in Other Current Liabilities | 69,000,000 | 423,000,000 | |
| Change in Other Operating Capital | -304,000,000 | -39,000,000 | -493,000,000 |
| Cash Flow from Investing Activities | -1,721,000,000 | -1,546,000,000 | -6,389,000,000 |
| Cash Flow from Continuing Investing Activities | -1,721,000,000 | -1,546,000,000 | -6,389,000,000 |
| Payment for Loan Granted and Repayments Received, Net | -793,000,000 | -1,023,000,000 | -819,000,000 |
| Purchase/Sale and Disposal of Property, Plant and Equipment, Net | -391,000,000 | -492,000,000 | -696,000,000 |
| Purchase of Property, Plant and Equipment | -391,000,000 | -492,000,000 | -722,000,000 |
| Sale and Disposal of Property, Plant and Equipment | 0 | 26,000,000 | |
| Purchase/Sale of Business, Net | -731,000,000 | -2,000,000 | -1,225,000,000 |
| Purchase/Acquisition of Business | -731,000,000 | -2,000,000 | -1,225,000,000 |
| Purchase/Sale of Investments, Net | -290,000,000 | 333,000,000 | -4,224,000,000 |
| Purchase of Investments | -610,000,000 | -76,000,000 | -7,542,000,000 |
| Sale of Investments | 320,000,000 | 409,000,000 | 3,318,000,000 |
| Purchase/Sale of Other Non-Current Assets, Net | |||
| Other Investing Cash Flow | 484,000,000 | -362,000,000 | 575,000,000 |
| Cash Flow from Financing Activities | -85,000,000 | -51,000,000 | 3,079,000,000 |
| Cash Flow from Continuing Financing Activities | -85,000,000 | -51,000,000 | 3,079,000,000 |
| Issuance of/Payments for Common Stock, Net | 0 | 75,000,000 | |
| Proceeds from Issuance of Common Stock | 0 | 75,000,000 | |
| Payments for Common Stock | |||
| Issuance of/Repayments for Debt, Net | -133,000,000 | -21,000,000 | -862,000,000 |
| Issuance of/Repayments for Long Term Debt, Net | -21,000,000 | ||
| Proceeds from Issuance of Long Term Debt | |||
| Repayments for Long Term Debt | |||
| Issuance of/Repayments for Short Term Debt, Net | -133,000,000 | -862,000,000 | |
| Repayments for Short Term Debt | -133,000,000 | -862,000,000 | |
| Other Financing Cash Flow | 0 | 0 | -18,000,000 |
| Excess Tax Benefit from Share-Based Compensation, Financing Activities | 76,000,000 | 41,000,000 | 26,000,000 |
| Net Movement in Non-Controlling/Minority Interest | -28,000,000 | -71,000,000 | 3,858,000,000 |
| Cash and Cash Equivalents, End of Period | 1,604,000,000 | 2,201,000,000 | 1,393,000,000 |
| Change in Cash | 187,000,000 | 623,000,000 | -764,000,000 |
| Effect of Exchange Rate Changes | 3,000,000 | -26,000,000 | -44,000,000 |
| Cash and Cash Equivalents, Beginning of Period | 1,414,000,000 | 1,604,000,000 | 2,201,000,000 |
| Change in Cash as Reported, Supplemental | 190,000,000 | 597,000,000 | -808,000,000 |
| Income Tax Paid, Supplemental | -28,000,000 | -47,000,000 | -216,000,000 |
| Interest Paid, Supplemental | -14,000,000 | -19,000,000 | -16,000,000 |
| Fiscal year ends in Dec 31 | USD |
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Ratios
| 2017 | 2018 | 2019 | Formulas | |
| PROFITABILITY RATIOS | ||||
| MC GROSS MARGIN | 78.50% | 78.50% | 79.05% | Gross Profit / Sales |
| MC OPERATION MARGIN | -24.54% | -22.49% | -21.62% | Operating Earnings/Sales Revenue |
| MC NETPROFIT MARGIN | -1.23% | -1.24% | -1.33% | Net Profit / Total Revenue |
| LIQUIDITY RATIO | ||||
| MC CURRENT RATIO | 0.87 | 0.83 | 0.72 | Current Assets / Current Liabilities |
| MC CASH RATIO | 0.91 | 0.75 | 0.72 | (Cash and cash equivalents + Marketable securities) ÷ Current liabilities |
| LEVERAGE RATIOS | ||||
| MC DEBT TO EQUITY | 2.88 | 3.59 | 3.94 | Total Liabilities/Shareholder Equity |
| OPERATION RETURNS | ||||
| MC ROE | -2.80% | -3.43% | -3.79% | Net Income / Shareholders’ Equity |
| MC ROA | -0.72% | -0.75% | -0.77% | Net Income / Total Assets |
MA Income Statement
| MA_IncomeStatement_Annual_As_Originally_Reported | 2017 | 2018 | 2019 |
| Gross Profit | 9,810,000,000 | 11,736,000,000 | 13,346,000,000 |
| Total Revenue | 12,497,000,000 | 14,950,000,000 | 16,883,000,000 |
| Business Revenue | 15,492,000,000 | 18,483,000,000 | 20,856,000,000 |
| Sales Return and Allowances/Discounts | -5,848,000,000 | -6,881,000,000 | -8,097,000,000 |
| Other Revenue | 2,853,000,000 | 3,348,000,000 | 4,124,000,000 |
| Cost of Revenue | -2,687,000,000 | -3,214,000,000 | -3,537,000,000 |
| Staff Cost, Cost of Revenue | -2,687,000,000 | -3,214,000,000 | -3,537,000,000 |
| Operating Income/Expenses | -3,067,000,000 | -3,362,000,000 | -3,650,000,000 |
| Selling, General and Administrative Expenses | -2,631,000,000 | -2,903,000,000 | -3,128,000,000 |
| General and Administrative Expenses | -1,378,000,000 | -1,619,000,000 | -1,747,000,000 |
| Legal, Accounting, Auditing and Consulting Fees | -355,000,000 | -377,000,000 | -447,000,000 |
| Selling and Marketing Expenses | -898,000,000 | -907,000,000 | -934,000,000 |
| Staff Costs | 0 | 0 | 0 |
| Depreciation, Amortization and Depletion | -436,000,000 | -459,000,000 | -522,000,000 |
| Depreciation and Amortization | -436,000,000 | -459,000,000 | -522,000,000 |
| Provision Expense/Write-Back | |||
| Provision for Doubtful Accounts | |||
| Total Operating Profit/Loss | 6,743,000,000 | 8,374,000,000 | 9,696,000,000 |
| Non-Operating Income/Expenses, Total | -221,000,000 | -1,170,000,000 | 35,000,000 |
| Total Net Finance Income/Expense | -154,000,000 | -186,000,000 | -224,000,000 |
| Net Interest Income/Expense | -154,000,000 | -186,000,000 | -224,000,000 |
| Interest Expense Net of Capitalized Interest | -154,000,000 | -186,000,000 | -224,000,000 |
| Interest Income | |||
| Net Investment Income | -50,000,000 | 158,000,000 | 232,000,000 |
| Gain/Loss on Investments and Other Financial Instruments | 167,000,000 | ||
| Gain/Loss on Foreign Exchange | -106,000,000 | 36,000,000 | -32,000,000 |
| Other Investment Income | 56,000,000 | 122,000,000 | 97,000,000 |
| Irregular Income/Expenses | -15,000,000 | -1,128,000,000 | 0 |
| Litigation Income/Expense | -15,000,000 | -1,128,000,000 | 0 |
| Other Income/Expense, Non-Operating | -2,000,000 | -14,000,000 | 27,000,000 |
| Pretax Income | 6,522,000,000 | 7,204,000,000 | 9,731,000,000 |
| Provision for Income Tax | -2,607,000,000 | -1,345,000,000 | -1,613,000,000 |
| Net Income from Continuing Operations | 3,915,000,000 | 5,859,000,000 | 8,118,000,000 |
| Net Income after Extraordinary Items and Discontinued Operations | 3,915,000,000 | 5,859,000,000 | 8,118,000,000 |
| Net Income after Non-Controlling/Minority Interests | 3,915,000,000 | 5,859,000,000 | 8,118,000,000 |
| Net Income Available to Common Stockholders | 3,915,000,000 | 5,859,000,000 | 8,118,000,000 |
| Diluted Net Income Available to Common Stockholders | 3,915,000,000 | 5,859,000,000 | 8,118,000,000 |
| Non-Controlling/Minority Interests | |||
| Reported Total Revenue | 12,497,000,000 | 14,950,000,000 | 16,883,000,000 |
| Reported Operating Expense | -5,875,000,000 | -7,668,000,000 | -7,219,000,000 |
| Reported Total Operating Profit/Loss | 6,622,000,000 | 7,282,000,000 | 9,664,000,000 |
| Reported Normalized Income | 4,906,000,000 | 6,792,000,000 | 7,937,000,000 |
| Reported Effective Tax Rate | 0 | 0 | 0 |
| Reported Normalized Operating Profit | |||
| Basic EPS | 3.67 | 5.63 | 7.98 |
| Diluted EPS | 3.65 | 5.60 | 7.94 |
| Basic WASO | 1,067,000,016 | 1,041,000,015 | 1,017,000,015 |
| Diluted WASO | 1,072,000,016 | 1,047,000,015 | 1,022,000,015 |
| Fiscal year ends in Dec 31 | USD |
MA Balance Sheet
| MA_BalanceSheet_Annual_As_Originally_Reported | 2017 | 2018 | 2019 |
| Total Assets | 21,329,000,000 | 24,860,000,000 | 29,236,000,000 |
| Total Current Assets | 13,797,000,000 | 16,171,000,000 | 16,902,000,000 |
| Cash, Cash Equivalents and Short Term Investments | 7,782,000,000 | 8,378,000,000 | 7,676,000,000 |
| Cash and Cash Equivalents | 5,933,000,000 | 6,682,000,000 | 6,988,000,000 |
| Short Term Investments | 1,849,000,000 | 1,696,000,000 | 688,000,000 |
| Available-for-Sale Securities, Current | 1,849,000,000 | 1,696,000,000 | 688,000,000 |
| Held-to-Maturity Securities, Current | |||
| Cash Restricted or Pledged, Current | 1,631,000,000 | 1,633,000,000 | 1,954,000,000 |
| Trade and Other Receivables, Current | 3,344,000,000 | 4,728,000,000 | 5,509,000,000 |
| Trade/Accounts Receivable, Current | 3,344,000,000 | 4,728,000,000 | 5,509,000,000 |
| Taxes Receivable, Current | |||
| Other Receivables, Current | |||
| Prepayments and Deposits, Current | 77,000,000 | 51,000,000 | 105,000,000 |
| Other Current Assets | 963,000,000 | 1,381,000,000 | 1,658,000,000 |
| Deferred Tax Assets, Current | |||
| Deferred Costs/Assets, Current | |||
| Total Non-Current Assets | 7,532,000,000 | 8,689,000,000 | 12,334,000,000 |
| Net Property, Plant and Equipment | 829,000,000 | 921,000,000 | 1,828,000,000 |
| Gross Property, Plant and Equipment | 1,543,000,000 | 1,768,000,000 | 2,928,000,000 |
| Properties | 621,000,000 | 696,000,000 | 808,000,000 |
| Buildings and Improvements | 455,000,000 | 481,000,000 | 505,000,000 |
| Leasehold and Improvements | 166,000,000 | 215,000,000 | 303,000,000 |
| Machinery, Furniture and Equipment | 81,000,000 | 85,000,000 | 92,000,000 |
| Furniture, Fixtures and Office Equipment | 81,000,000 | 85,000,000 | 92,000,000 |
| Other Equipment | 0 | 0 | 0 |
| Leased Property, Plant and Equipment | 810,000,000 | ||
| Other Property, Plant and Equipment | 841,000,000 | 987,000,000 | 1,218,000,000 |
| Accumulated Depreciation and Impairment | -714,000,000 | -847,000,000 | -1,100,000,000 |
| Accumulated Depreciation | -714,000,000 | -847,000,000 | -1,100,000,000 |
| Net Intangible Assets | 4,155,000,000 | 3,895,000,000 | 5,438,000,000 |
| Gross Goodwill and Other Intangible Assets | 5,312,000,000 | 5,070,000,000 | 6,734,000,000 |
| Goodwill | 3,035,000,000 | 2,904,000,000 | 4,021,000,000 |
| Intangibles other than Goodwill | 2,277,000,000 | 2,166,000,000 | 2,713,000,000 |
| Software and Technology | 1,572,000,000 | 1,514,000,000 | 1,884,000,000 |
| Customer Relationships | 648,000,000 | 606,000,000 | 785,000,000 |
| Other Intangible Assets | 27,000,000 | 46,000,000 | 44,000,000 |
| Trademarks and Patents | 30,000,000 | ||
| Accumulated Amortization and Impairment | -1,157,000,000 | -1,175,000,000 | -1,296,000,000 |
| Accumulated Amortization of Intangible Assets | -1,157,000,000 | -1,175,000,000 | -1,296,000,000 |
| Accumulated Amortization of Intangibles other than Goodwill | -1,157,000,000 | -1,175,000,000 | -1,296,000,000 |
| Accumulated Amortization of Software and Technology | -888,000,000 | -898,000,000 | -988,000,000 |
| Accumulated Amortization of Customer Relationships | -214,000,000 | -232,000,000 | -264,000,000 |
| Accumulated Amortization of Other Intangible Assets | -26,000,000 | -45,000,000 | -44,000,000 |
| Accumulated Amortization of Trademarks and Patents | -29,000,000 | ||
| Total Long Term Investments | 249,000,000 | 337,000,000 | 914,000,000 |
| Investment in Financial Assets, Non-Current | 249,000,000 | 337,000,000 | 914,000,000 |
| Equity Securities/Shares, Non-Current | 249,000,000 | 337,000,000 | 914,000,000 |
| Financial Investment Securities, Available-for-Sale & Held-to-Maturity, Non-Current | |||
| Available-for-Sale Securities, Non-Current | |||
| Held-to-Maturity Securities, Non-Current | |||
| Trade and Other Receivables, Non-Current | 178,000,000 | 298,000,000 | 460,000,000 |
| Taxes Receivable, Non-Current | 178,000,000 | 298,000,000 | 460,000,000 |
| Deferred Tax Assets, Non-Current | 250,000,000 | 570,000,000 | 543,000,000 |
| Other Non-Current Assets | 1,519,000,000 | 2,668,000,000 | 3,151,000,000 |
| Prepayments and Deposits, Non-Current | 352,000,000 | 0 | |
| Prepayments, Non-Current | 352,000,000 | 0 | |
| Deferred Costs/Assets, Non-Current | |||
| Total Liabilities | 15,832,000,000 | 19,442,000,000 | 23,319,000,000 |
| Total Current Liabilities | 8,793,000,000 | 11,593,000,000 | 11,904,000,000 |
| Payables and Accrued Expenses, Current | 6,916,000,000 | 9,064,000,000 | 9,606,000,000 |
| Trade and Other Payables, Current | 2,470,000,000 | 2,884,000,000 | 3,535,000,000 |
| Trade/Accounts Payable, Current | 933,000,000 | 537,000,000 | 489,000,000 |
| Taxes Payable, Current | 194,000,000 | 158,000,000 | 332,000,000 |
| Other Payable, Current | 1,343,000,000 | 2,189,000,000 | 2,714,000,000 |
| Amount Due to Related Parties/Shareholders, Current | |||
| Accrued Expenses, Current | 4,446,000,000 | 6,180,000,000 | 6,071,000,000 |
| Financial Liabilities, Current | 500,000,000 | 0 | |
| Current Debt and Capital Lease Obligation | 500,000,000 | 0 | |
| Current Portion of Long Term Debt and Capital Lease | 500,000,000 | 0 | |
| Current Portion of Long Term Debt | 500,000,000 | 0 | |
| Other Current Portion of LT Debt | 500,000,000 | 0 | |
| Other Current Liabilities | 1,877,000,000 | 2,029,000,000 | 2,298,000,000 |
| Provisions, Current | |||
| Provision for Employee Entitlements, Current | |||
| Total Non-Current Liabilities | 7,039,000,000 | 7,849,000,000 | 11,415,000,000 |
| Financial Liabilities, Non-Current | 5,424,000,000 | 5,834,000,000 | 8,527,000,000 |
| Long Term Debt and Capital Lease Obligation | 5,424,000,000 | 5,834,000,000 | 8,527,000,000 |
| Long Term Debt | 5,424,000,000 | 5,834,000,000 | 8,527,000,000 |
| Notes Payables, Non-Current | 5,834,000,000 | 8,527,000,000 | |
| Tax Liabilities, Non-Current | 106,000,000 | 67,000,000 | 85,000,000 |
| Deferred Tax Liabilities, Non-Current | 106,000,000 | 67,000,000 | 85,000,000 |
| Other Non-Current Liabilities | 1,438,000,000 | 1,877,000,000 | 2,729,000,000 |
| Preferred Securities Outside Stock Equity | 71,000,000 | 71,000,000 | 74,000,000 |
| Total Equity | 5,497,000,000 | 5,418,000,000 | 5,917,000,000 |
| Equity Attributable to Parent Stockholders | 5,468,000,000 | 5,395,000,000 | 5,893,000,000 |
| Paid in Capital | -16,399,000,000 | -21,170,000,000 | -27,418,000,000 |
| Capital Stock | 4,365,000,000 | 4,580,000,000 | 4,787,000,000 |
| Common Stock | 0 | 0 | |
| Additional Paid in Capital/Share Premium | 4,365,000,000 | 4,580,000,000 | 4,787,000,000 |
| Treasury Stock | -20,764,000,000 | -25,750,000,000 | -32,205,000,000 |
| Retained Earnings/Accumulated Deficit | 22,364,000,000 | 27,283,000,000 | 33,984,000,000 |
| Reserves/Accumulated Comprehensive Income/Losses | -497,000,000 | -718,000,000 | -673,000,000 |
| Cumulative Foreign Exchange Translation Reserves/Accum. Comp. Inc | |||
| Available for Sale Financial Investments Reserves/Accum. Comp. Inc | |||
| Pension and Other Post-Retirement Benefit Plans Reserves/Accum. Comp. Inc | |||
| Non-Controlling/Minority Interests | 29,000,000 | 23,000,000 | 24,000,000 |
| Common Shares Issued | 1,396,000,000 | 1,399,000,000 | 1,402,414,514 |
| Common Shares Outstanding | 1,054,000,000 | 1,031,000,000 | 1,007,414,514 |
| Common Shares Treasury | 342,000,000 | 368,000,000 | 395,000,000 |
| Common Stock, with Par Value | |||
| Fiscal year ends in Dec 31 | USD |
MA Cash Flow
| MA_CashFlow_Annual_As_Originally_Reported | 2017 | 2018 | 2019 |
| Cash Flow from Operating Activities, Indirect | 5,555,000,000 | 6,223,000,000 | 8,183,000,000 |
| Net Cash Flow from Continuing Operating Activities, Indirect | 5,555,000,000 | 6,223,000,000 | 8,183,000,000 |
| Cash Generated from Operating Activities | 5,555,000,000 | 6,223,000,000 | 8,183,000,000 |
| Income/Loss before Non-Cash Adjustment | 3,915,000,000 | 5,859,000,000 | 8,118,000,000 |
| Total Adjustments for Non-Cash Items | 1,926,000,000 | 1,677,000,000 | 1,763,000,000 |
| Depreciation, Amortization and Depletion, Non-Cash Adjustment | 437,000,000 | 459,000,000 | 522,000,000 |
| Depreciation and Amortization, Non-Cash Adjustment | 437,000,000 | 459,000,000 | 522,000,000 |
| Stock-Based Compensation, Non-Cash Adjustment | 176,000,000 | 196,000,000 | 250,000,000 |
| Taxes, Non-Cash Adjustment | 86,000,000 | -244,000,000 | -7,000,000 |
| Net Investment Income/Loss, Non-Cash Adjustment | -167,000,000 | ||
| Gain/Loss on Financial Instruments, Non-Cash Adjustment | -167,000,000 | ||
| Other Non-Cash Items | 1,227,000,000 | 1,266,000,000 | 1,165,000,000 |
| Excess Tax Benefit from Stock-Based Compensation, Non-Cash Adjustment | |||
| Changes in Operating Capital | -286,000,000 | -1,313,000,000 | -1,698,000,000 |
| Change in Trade and Other Receivables | -726,000,000 | -1,515,000,000 | -892,000,000 |
| Change in Trade/Accounts Receivable | -726,000,000 | -1,395,000,000 | -690,000,000 |
| Change in Tax Receivables | -120,000,000 | -202,000,000 | |
| Change in Prepayments and Deposits | -1,402,000,000 | -1,769,000,000 | -1,661,000,000 |
| Change in Cash Restricted or Pledged | -6,000,000 | 290,000,000 | |
| Change in Payables and Accrued Expenses | 1,258,000,000 | 2,258,000,000 | 430,000,000 |
| Change in Trade and Other Payables | 684,000,000 | 950,000,000 | 435,000,000 |
| Change in Trade/Accounts Payable | 290,000,000 | 101,000,000 | -42,000,000 |
| Change in Other Payables | 394,000,000 | 849,000,000 | 477,000,000 |
| Change in Taxes Payable | 0 | 0 | 0 |
| Change in Accrued Expenses | 574,000,000 | 1,308,000,000 | -5,000,000 |
| Change in Other Operating Capital | 584,000,000 | -281,000,000 | 135,000,000 |
| Change in Other Current Liabilities | |||
| Cash Flow from Investing Activities | -1,779,000,000 | -506,000,000 | -1,640,000,000 |
| Cash Flow from Continuing Investing Activities | -1,779,000,000 | -506,000,000 | -1,640,000,000 |
| Capital Expenditure, Reported | -123,000,000 | -174,000,000 | -306,000,000 |
| Purchase/Sale and Disposal of Property, Plant and Equipment, Net | -300,000,000 | -330,000,000 | -422,000,000 |
| Purchase of Property, Plant and Equipment | -300,000,000 | -330,000,000 | -422,000,000 |
| Purchase/Sale of Business, Net | -1,175,000,000 | 0 | -1,440,000,000 |
| Purchase/Acquisition of Business | -1,175,000,000 | 0 | -1,440,000,000 |
| Purchase/Sale of Investments, Net | -182,000,000 | 12,000,000 | 532,000,000 |
| Purchase of Investments | -2,006,000,000 | -1,900,000,000 | -1,325,000,000 |
| Sale of Investments | 1,824,000,000 | 1,912,000,000 | 1,857,000,000 |
| Other Investing Cash Flow | 1,000,000 | -14,000,000 | -4,000,000 |
| Purchase/Sale of Equity Investments | 0 | 0 | 0 |
| Purchase of Joint Venture/Associate | 0 | 0 | 0 |
| Change in Restricted Cash and Cash Equivalents | |||
| Purchase/Sale of Intangibles, Net | |||
| Purchase of Intangibles | |||
| Cash Flow from Financing Activities | -4,764,000,000 | -4,966,000,000 | -5,867,000,000 |
| Cash Flow from Continuing Financing Activities | -4,764,000,000 | -4,966,000,000 | -5,867,000,000 |
| Issuance of/Payments for Common Stock, Net | -3,762,000,000 | -4,933,000,000 | -6,497,000,000 |
| Payments for Common Stock | -3,762,000,000 | -4,933,000,000 | -6,497,000,000 |
| Issuance of/Repayments for Debt, Net | -64,000,000 | 991,000,000 | 2,224,000,000 |
| Issuance of/Repayments for Long Term Debt, Net | -64,000,000 | 991,000,000 | 2,224,000,000 |
| Proceeds from Issuance of Long Term Debt | 991,000,000 | 2,724,000,000 | |
| Repayments for Long Term Debt | -64,000,000 | 0 | -500,000,000 |
| Net Movement in Non-Controlling/Minority Interest | |||
| Cash Dividends and Interest Paid | -942,000,000 | -1,044,000,000 | -1,345,000,000 |
| Cash Dividends Paid | -942,000,000 | -1,044,000,000 | -1,345,000,000 |
| Common Stock Dividends Paid | -942,000,000 | -1,044,000,000 | -1,345,000,000 |
| Proceeds from Issuance/Exercising of Stock Options/Warrants | 57,000,000 | 104,000,000 | 126,000,000 |
| Other Financing Cash Flow | -53,000,000 | -84,000,000 | -375,000,000 |
| Excess Tax Benefit from Share-Based Compensation, Financing Activities | 0 | ||
| Cash and Cash Equivalents, End of Period | 5,933,000,000 | 8,337,000,000 | 8,969,000,000 |
| Change in Cash | -988,000,000 | 751,000,000 | 676,000,000 |
| Effect of Exchange Rate Changes | 200,000,000 | -6,000,000 | -44,000,000 |
| Cash and Cash Equivalents, Beginning of Period | 6,721,000,000 | 7,592,000,000 | 8,337,000,000 |
| Change in Cash As Reported, Supplemental | -788,000,000 | 745,000,000 | 632,000,000 |
| Fiscal year ends in Dec 31 | USD |
