10/28/2021 | Press release | Distributed by Public on 10/28/2021 06:03
Third-Quarter Operating Results | Increase / (Decrease) | |||
$ in billions, except per share data |
Q3 2021 | Q3 2020 | Reported GAAP | Currency-neutral |
Net revenue | $5.0 | $3.8 | 30% | 29% |
Operating expenses | $2.3 | $1.7 | 31% | 30% |
Operating income | $2.7 | $2.1 | 29% | 29% |
Operating margin | 54.5% | 54.9% | (0.4) ppt | (0.2) ppt |
Effective income tax rate | 14.3% | 21.0% | (6.7) ppt | (6.7) ppt |
Net income | $2.4 | $1.5 | 59% | 59% |
Diluted EPS | $2.44 | $1.51 | 62% | 62% |
Key Third-Quarter Non-GAAP Results 1
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Increase / (Decrease) | |||
$ in billions, except per share data
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Q3 2021 | Q3 2020 | As adjusted | Currency-neutral |
Net revenue | $5.0 | $3.8 | 30% | 29% |
Adjusted operating expenses | $2.2 | $1.7 | 25% | 23% |
Adjusted operating margin | 56.7% | 54.9% | 1.8 ppt | 2.0 ppt |
Adjusted effective income tax rate | 14.4% | 20.0% | (5.6) ppt | (5.6) ppt |
Adjusted net income | $2.3 | $1.6 | 46% | 45% |
Adjusted diluted EPS | $2.37 | $1.60 | 48% | 48% |
1. The Key Third-Quarter Non-GAAP Results exclude the impact of gains and losses on the company's equity investments, special items as described on page 11 ("Special Items") and/or currency. See page 11 for the company's non-GAAP adjustments and the reconciliation to GAAP reported amounts.
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Q3 2021 Key Business Drivers
(YoY growth) |
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Gross dollar volume |
Cross-border volume2
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Switched transactions2
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(local currency basis) | (local currency basis) | ||||
up 20% | up 52% | up 25% | |||
2. Growth rates normalized to eliminate the effects of differing switching and carryover days between periods.
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Year-to-date Operating Results | Increase / (decrease) | |||
$ in billions, except per share data |
2021 | 2020 | Reported GAAP | Currency-neutral |
Net revenue | $13.7 | $11.2 | 22% | 20% |
Operating expenses | $6.4 | $5.2 | 24% | 22% |
Operating income | $7.3 | $6.0 | 20% | 19% |
Operating margin | 53.1% | 53.9% | (0.8) ppt | (0.6) ppt |
Effective income tax rate | 15.7% | 17.3% | (1.6) ppt | (1.6) ppt |
Net income | $6.3 | $4.6 | 36% | 35% |
Diluted EPS | $6.35 | $4.59 | 38% | 37% |
Key Year-to-date Non-GAAP Results 1
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Increase / (decrease) | |||
$ in billions, except per share data | 2021 | 2020 | As adjusted | Currency-neutral |
Net revenue | $13.7 | $11.2 | 22% | 20% |
Adjusted operating expenses | $6.2 | $5.1 | 22% | 19% |
Adjusted operating margin | 54.4% | 54.1% | 0.2 ppt | 0.4 ppt |
Adjusted effective income tax rate | 15.6% | 17.1% | (1.4) ppt | (1.5) ppt |
Adjusted net income | $6.0 | $4.8 | 25% | 23% |
Adjusted diluted EPS | $6.06 | $4.78 | 27% | 25% |
1. The Key Year-to-Date Non-GAAP Results exclude the impact of gains and losses on the company's equity investments, special items as described on page 12 ("Year-to-Date Special Items") and/or currency. See page 12 for the company's non-GAAP adjustments and the reconciliation to GAAP reported amounts.
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Year-to-date 2021 Key Business Drivers
(YoY growth) |
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Gross dollar volume |
Cross-border volume2
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Switched Transactions2
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(local currency basis) | (local currency basis) | ||||
up 20% | up 25% | up 24% | |||
2. Growth rates normalized to eliminate the effects of differing switching and carryover days between periods.
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Investor Relations: | Media Relations: |
Warren Kneeshaw or Jud Staniar | Seth Eisen |
[email protected] | [email protected] |
914-249-4565 | 914-249-3153 |
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Consolidated Statement of Operations (Unaudited)
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Three Months Ended September 30, | Nine Months Ended September 30, | |||||||
2021 | 2020 | 2021 | 2020 | |||||
(in millions, except per share data) | ||||||||
Net Revenue | $ | 4,985 | $ | 3,837 | $ | 13,668 | $ | 11,181 |
Operating Expenses: | ||||||||
General and administrative | 1,831 | 1,423 | 5,225 | 4,285 | ||||
Advertising and marketing | 222 | 168 | 557 | 415 | ||||
Depreciation and amortization | 188 | 141 | 537 | 430 | ||||
Provision for litigation | 27 | - | 94 | 28 | ||||
Total operating expenses | 2,268 | 1,732 | 6,413 | 5,158 | ||||
Operating income | 2,717 | 2,105 | 7,255 | 6,023 | ||||
Other Income (Expense): | ||||||||
Investment income | 5 | 3 | 9 | 27 | ||||
Gains (losses) on equity investments, net | 197 | (91) | 534 | (190) | ||||
Interest expense | (110) | (105) | (323) | (275) | ||||
Other income (expense), net | 7 | 3 | 9 | 7 | ||||
Total other income (expense) | 99 | (190) | 229 | (431) | ||||
Income before income taxes | 2,816 | 1,915 | 7,484 | 5,592 | ||||
Income tax expense | 402 | 402 | 1,176 | 966 | ||||
Net Income | $ | 2,414 | $ | 1,513 | $ | 6,308 | $ | 4,626 |
Basic Earnings per Share | $ | 2.45 | $ | 1.51 | $ | 6.37 | $ | 4.61 |
Basic weighted-average shares outstanding | 986 | 1,001 | 990 | 1,003 | ||||
Diluted Earnings per Share | $ | 2.44 | $ | 1.51 | $ | 6.35 | $ | 4.59 |
Diluted weighted-average shares outstanding | 990 | 1,005 | 994 | 1,008 |
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Consolidated Balance Sheet (Unaudited)
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September 30, 2021 | December 31, 2020 | |||
(in millions, except per share data) | ||||
Assets | ||||
Current assets: | ||||
Cash and cash equivalents | $ | 6,406 | $ | 10,113 |
Restricted cash for litigation settlement | 586 | 586 | ||
Investments | 510 | 483 | ||
Accounts receivable | 2,820 | 2,646 | ||
Settlement due from customers | 861 | 1,706 | ||
Restricted security deposits held for customers | 1,832 | 1,696 | ||
Prepaid expenses and other current assets | 2,367 | 1,883 | ||
Total current assets | 15,382 | 19,113 | ||
Property, equipment and right-of-use assets, net of accumulated depreciation and amortization of $1,570 and $1,390, respectively
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1,860 | 1,902 | ||
Deferred income taxes | 471 | 491 | ||
Goodwill | 7,569 | 4,960 | ||
Other intangible assets, net of accumulated amortization of $1,676 and $1,489, respectively
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3,561 | 1,753 | ||
Other assets | 6,567 | 5,365 | ||
Total Assets | $ | 35,410 | $ | 33,584 |
Liabilities, Redeemable Non-controlling Interests and Equity | ||||
Current liabilities: | ||||
Accounts payable | $ | 557 | $ | 527 |
Settlement due to customers | 496 | 1,475 | ||
Restricted security deposits held for customers | 1,832 | 1,696 | ||
Accrued litigation | 838 | 842 | ||
Accrued expenses | 5,964 | 5,430 | ||
Current portion of long-term debt | 650 | 649 | ||
Other current liabilities | 1,224 | 1,228 | ||
Total current liabilities | 11,561 | 11,847 | ||
Long-term debt | 13,211 | 12,023 | ||
Deferred income taxes | 374 | 86 | ||
Other liabilities | 3,462 | 3,111 | ||
Total Liabilities | 28,608 | 27,067 | ||
Commitments and Contingencies | ||||
Redeemable Non-controlling Interests | 29 | 29 | ||
Stockholders' Equity | ||||
Class A common stock, $0.0001 par value; authorized 3,000 shares, 1,397 and 1,396 shares issued and 976 and 987 shares outstanding, respectively
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- | - | ||
Class B common stock, $0.0001 par value; authorized 1,200 shares, 8 shares issued and outstanding
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- | - | ||
Additional paid-in-capital | 5,026 | 4,982 | ||
Class A treasury stock, at cost, 422 and 409 shares, respectively | (41,282) | (36,658) | ||
Retained earnings | 43,750 | 38,747 | ||
Accumulated other comprehensive income (loss) | (791) | (680) | ||
Mastercard Incorporated Stockholders' Equity
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6,703 | 6,391 | ||
Non-controlling interests | 70 | 97 | ||
Total Equity | 6,773 | 6,488 | ||
Total Liabilities, Redeemable Non-controlling Interests and Equity | $ | 35,410 | $ | 33,584 |
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Consolidated Statement of Cash Flows (Unaudited)
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Nine Months Ended September 30, | ||||
2021 | 2020 | |||
(in millions) | ||||
Operating Activities | ||||
Net income | $ | 6,308 | $ | 4,626 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Amortization of customer and merchant incentives | 995 | 749 | ||
Depreciation and amortization | 537 | 430 | ||
(Gains) losses on equity investments, net | (534) | 190 | ||
Share-based compensation | 241 | 202 | ||
Deferred income taxes | (49) | 7 | ||
Other | 34 | 15 | ||
Changes in operating assets and liabilities: | ||||
Accounts receivable | (234) | 112 | ||
Settlement due from customers | 845 | 1,618 | ||
Prepaid expenses | (1,742) | (1,291) | ||
Accrued litigation and legal settlements | (4) | (116) | ||
Restricted security deposits held for customers | 136 | 198 | ||
Accounts payable | (74) | (145) | ||
Settlement due to customers | (978) | (1,587) | ||
Accrued expenses | 692 | (399) | ||
Net change in other assets and liabilities | 101 | 362 | ||
Net cash provided by operating activities | 6,274 | 4,971 | ||
Investing Activities | ||||
Purchases of investment securities available-for-sale | (326) | (161) | ||
Purchases of investments held-to-maturity | (172) | (126) | ||
Proceeds from sales of investment securities available-for-sale | 202 | 349 | ||
Proceeds from maturities of investment securities available-for-sale | 95 | 127 | ||
Proceeds from maturities of investments held-to-maturity | 156 | 84 | ||
Purchases of property and equipment | (285) | (280) | ||
Capitalized software | (301) | (277) | ||
Purchases of equity investments | (179) | (183) | ||
Proceeds from sales of equity investments | 185 | - | ||
Acquisition of businesses, net of cash acquired | (4,197) | (183) | ||
Settlement of interest rate derivative contracts | - | (175) | ||
Other investing activities | (12) | - | ||
Net cash used in investing activities | (4,834) | (825) | ||
Financing Activities | ||||
Purchases of treasury stock | (4,628) | (3,443) | ||
Dividends paid | (1,307) | (1,206) | ||
Proceeds from debt, net | 1,282 | 3,959 | ||
Acquisition of redeemable non-controlling interests | - | (49) | ||
Acquisition of non-controlling interest | (133) | - | ||
Contingent consideration paid | (64) | - | ||
Tax withholdings related to share-based payments | (130) | (145) | ||
Cash proceeds from exercise of stock options | 55 | 88 | ||
Other financing activities | (13) | 19 | ||
Net cash used in financing activities | (4,938) | (777) | ||
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | (80) | 66 | ||
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | (3,578) | 3,435 | ||
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 | $ | 8,841 | $ | 12,404 |
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Non-GAAP Reconciliations (QTD)
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Three Months Ended September 30, 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 | $ | 2,268 | 54.5 | % | $ | 99 | 14.3 | % | $ | 2,414 | $ | 2.44 |
(Gains) losses on equity investments 1
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** | ** | (197) | (0.2) % | (163) | (0.16) | ||||||
Litigation provisions 2
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(27) | 0.6 % | ** | 0.1 | % | 22 | 0.02 | |||||
Indirect tax matter 3
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(82) | 1.6 | % | 6 | 0.2 | % | 69 | 0.07 | ||||
Non-GAAP | $ | 2,158 | 56.7 | % | $ | (92) | 14.4 | % | $ | 2,341 | $ | 2.37 |
Three Months Ended September 30, 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 | $ | 1,732 | 54.9 | % | $ | (190) | 21.0 | % | $ | 1,513 | $ | 1.51 |
(Gains) losses on equity investments 1
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** | ** | 91 | (1.0) % | 92 | 0.09 | ||||||
Non-GAAP | $ | 1,732 | 54.9 | % | $ | (99) | 20.0 | % | $ | 1,605 | $ | 1.60 |
Three Months Ended September 30, 2021 as compared to the Three Months Ended September 30, 2020 | ||||||||||||
Increase/(Decrease) | ||||||||||||
Net revenue | Operating expenses | Operating margin | Effective income tax rate | Net income | Diluted earnings per share | |||||||
Reported - GAAP | 30 | % | 31 | % | (0.4) | ppt | (6.7) | ppt | 59 | % | 62 | % |
(Gains) losses on equity investments 1
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** | ** | ** | 0.8 | ppt | (20) % | (19) % | |||||
Litigation provisions 2
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** | (2) % | 0.6 | ppt | 0.1 | ppt | 1 | % | 1 | % | ||
Indirect tax matter 3
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** | (5) % | 1.6 | ppt | 0.2 | ppt | 5 | % | 5 | % | ||
Non-GAAP | 30 | % | 25 | % | 1.8 | ppt | (5.6) | ppt | 46 | % | 48 | % |
Currency impact 4
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(1) % | (1) % | 0.1 | ppt | - | ppt | (1) % | (1) % | ||||
Non-GAAP - currency-neutral | 29 | % | 23 | % | 2.0 | ppt | (5.6) | ppt | 45 | % | 48 | % |
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Non-GAAP Reconciliations (YTD)
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Nine Months Ended September 30, 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 | $ | 6,413 | 53.1 | % | $ | 229 | 15.7 | % | $ | 6,308 | $ | 6.35 |
(Gains) losses on equity investments 1
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** | ** | (534) | (0.3) % | (432) | (0.43) | ||||||
Litigation provisions 2
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(94) | 0.7 % | ** | 0.1 | % | 74 | 0.07 | |||||
Indirect tax matter 3
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(82) | 0.6 % | 6 | 0.1 | % | 69 | 0.07 | |||||
Non-GAAP | $ | 6,237 | 54.4 | % | $ | (299) | 15.6 | % | $ | 6,018 | $ | 6.06 |
Nine Months Ended September 30, 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 | $ | 5,158 | 53.9 | % | $ | (431) | 17.3 | % | $ | 4,626 | $ | 4.59 |
(Gains) losses on equity investments 1
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** | ** | 190 | (0.2) % | 171 | 0.17 | ||||||
Litigation provisions 4
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(28) | 0.3 % | ** | - | % | 22 | 0.02 | |||||
Non-GAAP | $ | 5,129 | 54.1 | % | $ | (241) | 17.1 | % | $ | 4,819 | $ | 4.78 |
Nine Months Ended September 30, 2021 as compared to the Nine Months Ended September 30, 2020 | ||||||||||||
Increase/(Decrease) | ||||||||||||
Net revenue | Operating expenses | Operating margin | Effective income tax rate | Net income | Diluted earnings per share | |||||||
Reported - GAAP | 22 | % | 24 | % | (0.8) | ppt | (1.6) | ppt | 36 | % | 38 | % |
(Gains) losses on equity investments 1
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** | ** | ** | - | ppt | (14) % | (14) % | |||||
Litigation provisions 2,4
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** | (1) % | 0.4 | ppt | 0.1 | ppt | 1 | % | 1 | % | ||
Indirect tax matter 3
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** | (2) % | 0.6 | ppt | 0.1 | ppt | 1 | % | 2 | % | ||
Non-GAAP | 22 | % | 22 | % | 0.2 | ppt | (1.4) | ppt | 25 | % | 27 | % |
Currency impact 5
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(2) % | (2) % | 0.1 | ppt | - | ppt | (2) % | (2) % | ||||
Non-GAAP - currency-neutral | 20 | % | 19 | % | 0.4 | ppt | (1.5) | ppt | 23 | % | 25 | % |
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Mastercard Incorporated Operating Performance
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For the 3 Months Ended September 30, 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 | $ | 536 | 11.4 | % | 9.6 | % | $ | 375 | 10.9 | % | 7,855 | 15.7 | % | $ | 161 | 6.5 | % | 1,591 | 893 |
Canada | 56 | 23.6 | % | 16.8 | % | 54 | 16.7 | % | 828 | 14.7 | % | 1 | 19.6 | % | 5 | 65 | |||
Europe | 662 | 27.5 | % | 27.0 | % | 474 | 32.9 | % | 15,224 | 30.0 | % | 187 | 14.1 | % | 1,123 | 713 | |||
Latin America | 122 | 38.7 | % | 33.7 | % | 85 | 41.6 | % | 3,858 | 40.0 | % | 37 | 18.6 | % | 301 | 281 | |||
Worldwide less United States | 1,376 | 21.4 | % | 19.7 | % | 989 | 23.4 | % | 27,765 | 26.3 | % | 387 | 11.2 | % | 3,020 | 1,952 | |||
United States | 618 | 20.3 | % | 20.3 | % | 554 | 22.9 | % | 9,024 | 15.2 | % | 64 | 1.9 | % | 319 | 551 | |||
Worldwide | 1,993 | 21.1 | % | 19.9 | % | 1,543 | 23.2 | % | 36,790 | 23.4 | % | 450 | 9.8 | % | 3,339 | 2,503 | |||
Mastercard Credit and Charge Programs | |||||||||||||||||||
Worldwide less United States | 622 | 19.0 | % | 16.4 | % | 584 | 16.6 | % | 12,194 | 21.4 | % | 38 | 12.4 | % | 162 | 750 | |||
United States | 292 | 36.1 | % | 36.1 | % | 284 | 34.5 | % | 3,135 | 29.3 | % | 8 | 126.3 | % | 8 | 264 | |||
Worldwide | 914 | 24.0 | % | 22.0 | % | 868 | 21.9 | % | 15,329 | 22.9 | % | 46 | 23.2 | % | 170 | 1,014 | |||
Mastercard Debit Programs | |||||||||||||||||||
Worldwide less United States | 753 | 23.4 | % | 22.6 | % | 405 | 34.5 | % | 15,571 | 30.5 | % | 349 | 11.1 | % | 2,858 | 1,202 | |||
United States | 326 | 9.0 | % | 9.0 | % | 271 | 12.6 | % | 5,889 | 8.8 | % | 56 | (5.6) | % | 311 | 287 | |||
Worldwide | 1,079 | 18.7 | % | 18.1 | % | 675 | 24.8 | % | 21,461 | 23.7 | % | 404 | 8.5 | % | 3,169 | 1,489 | |||
For the 9 Months Ended September 30, 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 | $ | 1,579 | 16.5 | % | 11.9 | % | $ | 1,098 | 13.1 | % | 22,602 | 19.1 | % | $ | 481 | 9.0 | % | 4,732 | 893 |
Canada | 154 | 23.6 | % | 14.4 | % | 149 | 16.2 | % | 2,227 | 14.3 | % | 5 | (24.3) | % | 13 | 65 | |||
Europe | 1,756 | 27.0 | % | 23.8 | % | 1,243 | 28.7 | % | 40,007 | 29.1 | % | 514 | 13.4 | % | 3,075 | 713 | |||
Latin America | 337 | 25.7 | % | 26.2 | % | 231 | 34.0 | % | 10,445 | 30.4 | % | 107 | 12.2 | % | 850 | 281 | |||
Worldwide less United States | 3,826 | 22.2 | % | 18.4 | % | 2,721 | 21.6 | % | 75,281 | 25.6 | % | 1,106 | 11.1 | % | 8,671 | 1,952 | |||
United States | 1,780 | 22.4 | % | 22.4 | % | 1,583 | 24.2 | % | 25,710 | 16.2 | % | 198 | 9.8 | % | 964 | 551 | |||
Worldwide | 5,607 | 22.2 | % | 19.6 | % | 4,303 | 22.6 | % | 100,992 | 23.1 | % | 1,303 | 10.9 | % | 9,635 | 2,503 | |||
Mastercard Credit and Charge Programs | |||||||||||||||||||
Worldwide less United States | 1,736 | 16.8 | % | 12.4 | % | 1,627 | 13.2 | % | 33,575 | 19.2 | % | 109 | 2.7 | % | 460 | 750 | |||
United States | 792 | 26.9 | % | 26.9 | % | 771 | 27.3 | % | 8,444 | 22.0 | % | 21 | 13.7 | % | 21 | 264 | |||
Worldwide | 2,528 | 19.8 | % | 16.6 | % | 2,398 | 17.3 | % | 42,019 | 19.7 | % | 130 | 4.4 | % | 481 | 1,014 | |||
Mastercard Debit Programs | |||||||||||||||||||
Worldwide less United States | 2,091 | 27.0 | % | 23.8 | % | 1,093 | 36.9 | % | 41,706 | 31.4 | % | 997 | 12.1 | % | 8,210 | 1,202 | |||
United States | 988 | 19.0 | % | 19.0 | % | 812 | 21.3 | % | 17,266 | 13.5 | % | 177 | 9.3 | % | 943 | 287 | |||
Worldwide | 3,079 | 24.3 | % | 22.2 | % | 1,905 | 29.8 | % | 58,973 | 25.6 | % | 1,174 | 11.7 | % | 9,154 | 1,489 | |||
Mastercard Incorporated Operating Performance (continued)
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For the 3 Months ended September 30, 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 | $ | 481 | (1.5) | % | (1.4) | % | $ | 328 | (0.1) | % | 6,789 | 3.8 | % | $ | 153 | (4.0) | % | 1,550 | 865 |
Canada | 45 | (3.7) | % | (2.9) | % | 44 | (1.6) | % | 722 | (3.5) | % | 1 | (34.9) | % | 4 | 61 | |||
Europe | 519 | 2.1 | % | 2.8 | % | 353 | 3.6 | % | 11,709 | 14.5 | % | 165 | 1.1 | % | 1,062 | 631 | |||
Latin America | 88 | (22.2) | % | (6.8) | % | 59 | (1.7) | % | 2,755 | (5.7) | % | 29 | (15.7) | % | 244 | 221 | |||
Worldwide less United States | 1,133 | (2.1) | % | (0.1) | % | 784 | 1.3 | % | 21,975 | 7.5 | % | 349 | (3.0) | % | 2,860 | 1,778 | |||
United States | 513 | 4.1 | % | 4.1 | % | 451 | 4.1 | % | 7,837 | 1.2 | % | 62 | 3.8 | % | 321 | 484 | |||
Worldwide | 1,647 | (0.2) | % | 1.2 | % | 1,235 | 2.3 | % | 29,812 | 5.8 | % | 411 | (2.0) | % | 3,181 | 2,262 | |||
Mastercard Credit and Charge Programs | |||||||||||||||||||
Worldwide less United States | 523 | (9.3) | % | (7.5) | % | 489 | (7.0) | % | 10,044 | (1.0) | % | 34 | (14.5) | % | 157 | 704 | |||
United States | 214 | (12.2) | % | (12.2) | % | 211 | (10.0) | % | 2,424 | (9.8) | % | 4 | (65.0) | % | 6 | 234 | |||
Worldwide | 737 | (10.2) | % | (8.9) | % | 700 | (7.9) | % | 12,468 | (2.8) | % | 37 | (24.8) | % | 163 | 938 | |||
Mastercard Debit Programs | |||||||||||||||||||
Worldwide less United States | 610 | 5.2 | % | 7.3 | % | 295 | 18.8 | % | 11,931 | 15.8 | % | 315 | (1.6) | % | 2,703 | 1,074 | |||
United States | 299 | 20.1 | % | 20.1 | % | 240 | 20.7 | % | 5,413 | 7.0 | % | 59 | 17.7 | % | 315 | 250 | |||
Worldwide | 909 | 9.6 | % | 11.2 | % | 535 | 19.7 | % | 17,344 | 12.9 | % | 374 | 1.0 | % | 3,019 | 1,324 | |||
For the 9 Months ended September 30, 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 | $ | 1,356 | (4.7) | % | (2.5) | % | $ | 918 | (1.4) | % | 18,973 | 3.9 | % | $ | 438 | (4.8) | % | 4,529 | 865 |
Canada | 124 | (5.8) | % | (4.0) | % | 119 | (4.4) | % | 1,948 | (5.8) | % | 6 | 4.8 | % | 12 | 61 | |||
Europe | 1,383 | (2.3) | % | 0.6 | % | 932 | 0.9 | % | 30,994 | 10.2 | % | 451 | (0.1) | % | 2,967 | 631 | |||
Latin America | 268 | (18.2) | % | (3.5) | % | 177 | 1.2 | % | 8,008 | (1.3) | % | 92 | (11.4) | % | 750 | 221 | |||
Worldwide less United States | 3,132 | (5.0) | % | (1.3) | % | 2,146 | (0.4) | % | 59,923 | 5.9 | % | 986 | (3.3) | % | 8,259 | 1,778 | |||
United States | 1,455 | 1.7 | % | 1.7 | % | 1,275 | 1.8 | % | 22,135 | (0.3) | % | 180 | 1.1 | % | 911 | 484 | |||
Worldwide | 4,586 | (3.0) | % | (0.4) | % | 3,420 | 0.4 | % | 82,058 | 4.2 | % | 1,166 | (2.7) | % | 9,170 | 2,262 | |||
Mastercard Credit and Charge Programs | |||||||||||||||||||
Worldwide less United States | 1,486 | (10.8) | % | (7.2) | % | 1,382 | (7.1) | % | 28,177 | (0.5) | % | 104 | (7.7) | % | 464 | 704 | |||
United States | 624 | (10.0) | % | (10.0) | % | 606 | (8.9) | % | 6,920 | (7.7) | % | 19 | (34.8) | % | 19 | 234 | |||
Worldwide | 2,110 | (10.5) | % | (8.0) | % | 1,988 | (7.7) | % | 35,096 | (2.0) | % | 122 | (13.2) | % | 483 | 938 | |||
Mastercard Debit Programs | |||||||||||||||||||
Worldwide less United States | 1,646 | 0.9 | % | 4.6 | % | 764 | 14.7 | % | 31,746 | 12.4 | % | 882 | (2.8) | % | 7,795 | 1,074 | |||
United States | 830 | 12.7 | % | 12.7 | % | 669 | 14.0 | % | 15,215 | 3.4 | % | 162 | 7.9 | % | 892 | 250 | |||
Worldwide | 2,476 | 4.6 | % | 7.2 | % | 1,432 | 14.4 | % | 46,961 | 9.3 | % | 1,044 | (1.3) | % | 8,688 | 1,324 | |||
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.
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