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While becoming a lender would allow Mastercard to generate interest and fee income along with merchant fees, it would also expose the company to potential loan losses and credit delinquencies during inevitable downturns. Mastercard has no direct liability to loan losses since it doesn't lend.
The past year has marked the most transformative in our 25-year history of being a publiccompany as we released MicroStrategy ONE, MicroStrategy AI, MicroStrategy Cloud for Azure, AWS, and now the Google Cloud Platform, and continue to focus on growth in both cloud and AI plus BI. And so increasingly, investors are recognizing this.
A Fortune 100 financial services company signed a similar 4-year $10 million pool of funds deal. This customer represents our largest new logo win with a major financialinstitution. A large financialinstitution in Latin America signed a 2-year $1.3 We successfully completed six different proof of concepts.
If you go back to the WMIH merger in 2018, which is when we became a fully independent publiccompany, our first priority was deleveraging, which we accomplished by refinancing our senior notes and extending our liquidity runway. Now, that's the lowest level of Mr. Cooper's history as a publiccompany. Welcome, Mike.
We are currently analyzing our ability to implement certain tax planning strategies in order to manage current and future cash tax liabilities. And so, when we're talking to large financialinstitutions, what they're saying to us is we want to use you and someone else. I think you guys have had as a publiccompany in aggregate.
In addition to expanding our existing relationships, we also signed five new financialinstitutions this quarter, further expanding our industry-leading client roster. He brings a wealth of experience and leadership expertise from publiccompanies, particularly around strategic objectives, operational efficiency, and payments.
To address these challenges, we are in the process of establishing approval program with financialinstitution to improve and expedite the credit decision process. Other companies are -- other companies in this industry are mostly private, but here and there, we hear -- we have some information.
Many of the world's largest airlines, energy companies, financialinstitutions, along with government organizations, count on DXC for the systems at the heart of their business. I know that, as you've mentioned, in the short history of this publiccompany, there have been previous restructurings. Great question.
This was also our first quarter of GAAP profitability as a publiccompany. In the fourth quarter, we achieved our first quarter of GAAP profitability as a publiccompany, delivering operating income of $15 million. We ended the year with 4,035 total employees. This included $89 million of stock-based compensation expense.
I got to listen to the great capabilities that we have, and the team briefed me on the work they do with Banco Sabadell, a leading Spanish financialinstitution. We're a publiccompany. We're going to perform well as a publiccompany. So, that's a process that we're in right now. We're here.
When I go meet with big financialinstitutions or just regular people who are using crypto, the No. 1 thing I hear and I ask them, why aren't you using it more and they tell me it's regulatory clarity, especially on the institutional side. So these have been two of our highest ROI investments to date on the policy side.
But we've been a company now for just reaching our 20 years as a publiccompany. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings.
We have relationships with some of the largest and most experienced operators in the industry, with our leased operating portfolio comprised of 90% multi-state operators and 60% leased to publiccompany tenants. We are also continuing to source new banking relationships to provide additional capital for the company.
In Q4, we continue to set new customer acquisition records for technology pioneers and multinational industrials to leading financialinstitutions and federal agencies. Dave, congrats on entering your third year as a publiccompany CFO. Please go ahead. Your line is open. Thank you for taking my question.
from the underwriting actions and changes in our professional liability reinsurance structure and higher operating expense ratio in our international operations to support investment and growth initiatives. Higher attritional loss ratios in our professional and general liability products drove this. points last year.
We are working with multiple financialinstitutions to automate their quality assurance processes for marketing campaigns. As I reflect on nearly 4 years as a publiccompany, Zeta's trajectory has never been clearer. In the fourth quarter, we achieved positive GAAP net income for the first time as a publiccompany.
This combination not only solidifies our position as the largest commercial bank headquartered in Greater Boston and a leading financialinstitution in New England but also allows us to deliver a broader suite of offerings to our customers, greater opportunities for our colleagues, and even stronger commitment to the communities we serve.
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