PYPLPayPal
At PayPal Holdings, Inc., our mission is to revolutionize commerce globally. 10-K, Item 1
- Employees
- 23,800
- Headquarters
- San Jose, CA
- Next results
- around Feb 2, 2027
7 paragraphs in Risk Factors of the 10-K filed Feb 3, 2026 with nothing like them in the 10-K filed Feb 4, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 75 Financials companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
website; AI; developments in technologies supporting our regulatory and compliance obligations; and in-store, digital, agentic and social commerce.
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government authorities in different jurisdictions. While we have implemented policies and procedures designed to help ensure compliance with applicable laws and regulations, there can be no assurance that our employees, contractors, and agents will not violate such laws and regulations.
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Evolving laws, regulations and stakeholder expectations with respect to environmental, social and governance matters could harm our reputation and adversely affect our business.
Various jurisdictions both in the U.S. and internationally have adopted or are developing laws, regulations and policies relating to environmental, social and governance matters (e.g., environmental sustainability and climate change) which include disclosure, reporting and diligence requirements. Compliance with these requirements may involve significant costs, and any actual or perceived failure to comply with applicable (and potentially conflicting) federal, state, local or international laws or regulations concerning environmental, social, and governance matters could subject us to fines, penalties, regulatory or other enforcement actions, and adversely affect our business or financial condition. In addition, various stakeholders, including investors, customers, employees, governmental authorities and regulators, may have differing expectations regarding environmental, social and governance matters related to us (including those supporting and opposing various environmental, social and governance matters), whose expectations and requirements are evolving and varied. Any initiatives, targets, data, or commitments we disclose with respect to these matters involve risks and uncertainties and could be difficult to achieve and costly to implement. Any actual or perceived failure or inaccuracy with respect to such initiatives, targets, data or commitments or to otherwise successfully manage investor or other stakeholder expectations on these matters could result in adverse reaction by consumers or other stakeholders (including, but not limited to, customers choosing not to use our products and services and the commencement of legal and regulatory proceedings against us), harm our reputation, and adversely affect our business, results of operation and financial condition.
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The determination of our worldwide provision for income taxes and other tax liabilities requires estimation and significant judgment, and there are many transactions and calculations for which the ultimate tax determination is uncertain. Our future
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There can be no assurance that we will continue to repurchase stock or declare cash dividends, and stock repurchases or dividends could increase the volatility of our stock price and could diminish our cash reserves.
We engage in share repurchases of our common stock from time to time, and our stock repurchase programs do not have expiration dates and do not obligate us to repurchase any specific dollar amount or to acquire any specific number of shares. In October 2025, we announced the initiation of a cash dividend program. Future cash dividends are subject to declaration by our Board of Directors at its sole discretion and are therefore subject to numerous factors including, among others, prevailing market conditions, our results of operations, financial condition and liquidity, applicable laws and agreements. Our stock repurchases and our dividends could affect our share trading prices, increase its volatility, reduce our cash reserves and may be suspended or terminated at any time, which may result in a decrease in our share trading price.
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New in the latest 10-Q
10 paragraphs in the 10-Q filed Oct 27, 2026 with nothing like them in the 10-Q filed Jul 28, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
(1) Beginning balances, provisions and charge-offs include amounts related to loans and interest receivable prior to their reclassification to loan and interest receivable, held for sale during the period.
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We are subject to taxation in the U.S. and various state and foreign jurisdictions. We are currently under examination by certain tax authorities for the 2015 to 2025 tax years. The material jurisdictions in which we are subject to examination by tax authorities for tax years after 2014 primarily include the U.S. (Federal and California), India, Singapore, and Israel. In September 2026, the IRS completed its examination of our U.S. federal income tax returns for the tax years ended December 31, 2015 through 2018 and issued a Revenue Agent’s Report proposing several adjustments to our taxable income. We disagree with the proposed adjustments and intend to contest them through IRS Appeals, a process we do not expect to conclude within the next 12 months.
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We believe that adequate amounts have been reserved for any adjustments that may ultimately result from our open examinations.
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During the third quarter of 2026, management implemented the 3Q 2026 Plan to simplify our operations by removing organizational layers across the Company and increasing spans of control. The associated restructuring charges in both the three and nine months ended September 30, 2026 were $152 million and included employee severance and benefits costs, including stock-based compensation, substantially all of which were accrued for as of September 30, 2026. We expect the 3Q 2026 Plan to reduce annualized employee-related costs associated with the impacted workforce by approximately $340 million, including stock-based compensation, with a portion of savings realized in September 2026 and the remainder expected to be realized beginning in the fourth quarter of 2026. We intend to reinvest a significant portion of these savings into our highest-priority growth initiatives.
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• an increase in interest expense associated with the May 2026 debt issuance; and
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• lower proceeds from maturities and sales of investments of $4.8 billion and higher purchases of investments of $2.6 billion; and
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Risk Factors
We rely on third parties in many aspects of our business, which creates additional risk.
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We rely on third parties in many aspects of our business, including, but not limited to, networks, banks, payment processors, payment gateways, and other entities that link us to the payment card and bank clearing networks to process transactions and that link us to consumers and other customers to provide financial services; unaffiliated third-party lenders to originate U.S. credit products to consumers, U.S. merchant financing, and branded credit card products; branded debit card and savings products issued by unaffiliated banks; cryptocurrency custodial service providers; and external business partners and contractors who provide key functions (including, but not limited to, data center facilities and cloud computing, IT, and outsourced customer support, accounting, human resources, and product development functions). We are subject to additional risks inherent in engaging and relying upon third-party providers, including operational, legal, regulatory, information security, reputational, commercial, and resiliency risks. If we are unable to effectively manage our third-party relationships, these third parties are unable to meet their obligations to us, we are overly reliant on certain relationships, we are unable to negotiate favorable contractual terms, or we experience substantial disruptions in these relationships (including interruptions to the availability of our products and services), our operations, liquidity, results of operations, and financial results could be adversely impacted. Additionally, our relationships with third parties inherently involve a lesser degree of control over business operations, governance, and compliance (including anti-money laundering, sanctions, consumer protection, and other regulatory compliance), which potentially increases our financial, legal, reputational, and operational risk.
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Other information
An equity trading plan is a written document that preestablishes the amounts, prices, and dates (or formula for determining the amounts, prices, and dates) of future purchases or sales of the Company’s stock, including sales of shares acquired under the Company’s employee and director equity plans.
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On August 25, 2026, Aaron Webster, Executive Vice President, Global Chief Risk Officer, adopted an equity trading plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. The trading plan is scheduled to expire no later than February 28, 2028 with approximately 89,900 shares (vested and net shares expected to vest over the duration of the trading plan) subject to sale under the plan.
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