Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers other payment-related products and services. The company offers integrated products and value-added services for account holders, merchants, financial institutions, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; prepaid programs and management services; commercial credit and debit payment products and solutions; and payment products and solutions that allow its customers to access funds in deposit and other accounts. It also provides value-added products and services comprising cyber and intelligence solutions for parties to transact, as well as proprietary insights, drawing on principled use of consumer, and merchant data services. In addition, the company offers analytics, test and learn, consulting, managed services, loyalty, processing, and payment gateway solutions for e-commerce merchants. Further, it provides open banking and digital identity platforms services. The company offers payment solutions and services under the MasterCard, Maestro, and Cirrus. Mastercard Incorporated was founded in 1966 and is headquartered in Purchase, New York.

Mastercard Incorporated

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Provision for Litigation

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Charitable Contributions to the MasterCard Foundation

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Total Operating Expenses

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Operating Income

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Investment Income

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Other Income, Net

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Income Before Income Taxes

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Net Income

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Income Attributable to Non-Controlling Interests

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Net Income Attributable to MasterCard

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Basic Earnings per Share

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Total Revenues

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Gross Profit

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Interest and Investment Income

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Non-Operating Income

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Consolidated Net Income

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Net Income Attributable to Minority Interests and Other

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Revenue

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Net Interest Income

Assets

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Adjusted Funds From Operations

Income Statement	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Revenues	31,474	28,167	25,098	22,237	18,884	15,301	16,883	14,950	12,497	10,776	9,667
Total Revenues %Chg	15.6%	12.2%	12.9%	17.8%	23.4%	-9.4%	12.9%	19.6%	16%	11.5%	2.4%
Net Revenue
Gross Profit	31,474	28,167	25,098	22,237	18,884	15,301	16,883	14,950	12,497	10,776	9,667
Gross Profit Margin	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Selling, General & Administrative Expenses	11,862	11,008	9,752	8,867	7,982	6,567	6,697	6,081	5,424	4,525	4,162
General and Administrative
Advertising and Marketing
Depreciation & Amortization Expenses	1,077	897	799	750	726	580	522	459	436	373	366
Depreciation and Amortization
Other Operating Expenses	610	680	539	356	94	73	—	1,128	15	117	61
Provision for Litigation
Charitable Contributions to the MasterCard Foundation
Operating Profit	17,925	15,582	14,008	12,264	10,082	8,081	9,664	7,282	6,622	5,761	5,078
Operating Income
Operating Margin	57%	55.3%	55.8%	55.2%	53.4%	52.8%	57.2%	48.7%	53%	53.5%	52.5%
Interest and Investment Income	335	327	274	61	11	24	97	122	56	43	25
Investment Income
Interest Expense	-747	-646	-575	-471	-431	-380	-224	-186	-154	-95	-61
Interest Expense
Non-Operating Income	80	-9	-68	-122	645	35	194	-14	-2	-63	-84
Gains on Equity Investments, Net
Other Income, Net
Total Non-Operating Income	-332	-328	-369	-532	225	-321	67	-78	-100	-115	-120
Income Before Provision for Income Taxes	17,593	15,254	13,639	11,732	10,307	7,760	9,731	7,204	6,522	5,646	4,958
Income Before Income Taxes
Provision for Income Taxes	3,343	2,380	2,444	1,802	1,620	1,349	1,613	1,345	2,607	1,587	1,150
Income Tax Expense
Consolidated Net Income	14,250	12,874	11,195	9,930	8,687	6,411	8,118	5,859	3,915	4,059	3,808
Net Income
Net Income Attributable to Minority Interests and Other	—	—	—	—	—	—	—	—	—	—	—
Income Attributable to Non-Controlling Interests
Net Income Attributable to Common Shareholders	14,250	12,874	11,195	9,930	8,687	6,411	8,118	5,859	3,915	4,059	3,808
Net Income Attributable to MasterCard
Net Income
Basic EPS	15.7	13.9	11.9	10.3	8.8	6.4	8	5.6	3.7	3.7	3.4
Diluted EPS	15.6	13.9	11.8	10.2	8.8	6.4	7.9	5.6	3.7	3.7	3.4
Basic Weighted Average Shares Outstanding	910	925	944	968	988	1,002	1,017	1,041	1,067	1,098	1,134
Total Shares Outstanding	898	913.4	934.5	956	979.9	995.2	1,007.2	1,030.4	1,053.7	1,081.7	1,116.3
Diluted Weighted Average Shares Outstanding	911.8	927	946	971	992	1,006	1,022	1,047	1,072	1,101	1,137
EBITDA	21,030	18,309	16,429	14,600	12,179	9,733	11,327	8,976	8,060	6,994	6,208
Effective Tax Rate	19%	15.6%	17.9%	15.4%	15.7%	17.4%	16.6%	18.7%	40%	28.1%	23.2%