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v3.22.2.2

Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Financial Performance Of Company's Reporting Segments |
|  | Nine Months Ended September 30, 2022
|  | Brazil |  | Argentina |  | Mexico |  | Other Countries |  | Total
|  | (In millions)
Net revenues |  | $ 4,134 |  | $ 1,787 |  | $ 1,257 |  | $ 357 |  | $ 7,535
Direct costs |  | (3,472) |  | (1,068) |  | (1,075) |  | (348) |  | (5,963)
Direct contribution |  | 662 |  | 719 |  | 182 |  | 9 |  | 1,572
Operating expenses and indirect costs of net revenues |  |  |  |  |  |  |  |  |  | (887)
Income from operations |  |  |  |  |  |  |  |  |  | 685
Other income (expenses): |  |  |  |  |  |  |  |  |  |
Interest income and other financial gains |  |  |  |  |  |  |  |  |  | 142
Interest expense and other financial losses |  |  |  |  |  |  |  |  |  | (221)
Foreign currency losses, net |  |  |  |  |  |  |  |  |  | (134)
Net income before income tax expense |  |  |  |  |  |  |  |  |  | $ 472
‎
|  | Nine Months Ended September 30, 2021
|  | Brazil |  | Argentina |  | Mexico |  | Other Countries |  | Total
|  | (In millions)
Net revenues |  | $ 2,783 |  | $ 1,056 |  | $ 780 |  | $ 320 |  | $ 4,939
Direct costs |  | (2,170) |  | (674) |  | (767) |  | (247) |  | (3,858)
Direct contribution |  | 613 |  | 382 |  | 13 |  | 73 |  | 1,081
Operating expenses and indirect costs of net revenues |  |  |  |  |  |  |  |  |  | (664)
Income from operations |  |  |  |  |  |  |  |  |  | 417
Other income (expenses): |  |  |  |  |  |  |  |  |  |
Interest income and other financial gains |  |  |  |  |  |  |  |  |  | 84
Interest expense and other financial losses |  |  |  |  |  |  |  |  |  | (175)
Foreign currency losses, net |  |  |  |  |  |  |  |  |  | (52)
Net income before income tax expense |  |  |  |  |  |  |  |  |  | $ 274
|  |  | Three Months Ended September 30, 2022
|  |  | Brazil |  | Argentina |  | Mexico |  | Other Countries |  | Total
|  |  | (In millions)
Net revenues |  | $ 1,431 |  | $ 675 |  | $ 465 |  | $ 119 |  | $ 2,690
Direct costs |  | (1,209) |  | (376) |  | (384) |  | (121) |  | (2,090)
Direct contribution |  | 222 |  | 299 |  | 81 |  | (2) |  | 600
Operating expenses and indirect costs of net revenues |  |  |  |  |  |  |  |  |  | (304)
Income from operations |  |  |  |  |  |  |  |  |  | 296
Other income (expenses): |  |  |  |  |  |  |  |  |  |
| Interest income and other financial gains |  |  |  |  |  |  |  |  |  | 65
| Interest expense and other financial losses |  |  |  |  |  |  |  |  |  | (92)
| Foreign currency losses, net |  |  |  |  |  |  |  |  |  | (71)
Net income before income tax expense |  |  |  |  |  |  |  |  |  | $ 198
|  |  | Three Months Ended September 30, 2021
|  |  | Brazil |  | Argentina |  | Mexico |  | Other Countries |  | Total
|  |  | (In millions)
Net revenues |  | $ 1,063 |  | $ 393 |  | $ 291 |  | $ 111 |  | $ 1,858
Direct costs |  | (831) |  | (253) |  | (285) |  | (91) |  | (1,460)
Direct contribution |  | 232 |  | 140 |  | 6 |  | 20 |  | 398
Operating expenses and indirect costs of net revenues |  |  |  |  |  |  |  |  |  | (238)
Income from operations |  |  |  |  |  |  |  |  |  | 160
Other income (expenses): |  |  |  |  |  |  |  |  |  |
| Interest income and other financial gains |  |  |  |  |  |  |  |  |  | 35
| Interest expense and other financial losses |  |  |  |  |  |  |  |  |  | (44)
| Foreign currency losses, net |  |  |  |  |  |  |  |  |  | (25)
Net income before income tax expense |  |  |  |  |  |  |  |  |  | $ 126
‎
Consolidated Net Revenues By Similar Products And Services |
| Nine-month periods ended September 30,
| Brazil |  |  | Argentina |  | Mexico |  |  | Other Countries |  |  | Total
| 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021
Commerce services (a) | $ | 1,877 | $ | 1,553 |  | $ | 602 | $ | 440 |  | $ | 702 | $ | 516 |  | $ | 234 | $ | 221 |  | $ | 3,415 | $ | 2,730
Commerce products sales (b) |  | 344 |  | 240 |  |  | 198 |  | 172 |  |  | 161 |  | 96 |  |  | 29 |  | 40 |  |  | 732 |  | 548
Total commerce revenues | $ | 2,221 | $ | 1,793 |  | $ | 800 | $ | 612 |  | $ | 863 | $ | 612 |  | $ | 263 | $ | 261 |  | $ | 4,147 | $ | 3,278
Fintech services (c) | $ | 1,059 | $ | 672 |  | $ | 636 | $ | 332 |  | $ | 97 | $ | 62 |  | $ | 86 | $ | 59 |  | $ | 1,878 | $ | 1,125
Credit revenues (d) |  | 833 |  | 302 |  |  | 347 |  | 106 |  |  | 291 |  | 103 |  |  | 2 |  | — |  | 1,473 |  | 511
Fintech products sales (e) |  | 21 |  | 16 |  |  | 4 |  | 6 |  |  | 6 |  | 3 |  |  | 6 |  | — |  | 37 |  | 25
Total fintech revenues | $ | 1,913 | $ | 990 |  | $ | 987 | $ | 444 |  | $ | 394 | $ | 168 |  | $ | 94 | $ | 59 |  | $ | 3,388 | $ | 1,661
Total net revenues | $ | 4,134 | $ | 2,783 |  | $ | 1,787 | $ | 1,056 |  | $ | 1,257 | $ | 780 |  | $ | 357 | $ | 320 |  | $ | 7,535 | $ | 4,939
| Three-month periods ended September 30,
| Brazil |  |  | Argentina |  | Mexico |  |  | Other Countries |  |  | Total
| 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021
Commerce services (a) | $ | 669 | $ | 575 |  | $ | 221 | $ | 174 |  | $ | 257 | $ | 184 |  | $ | 76 | $ | 75 |  | $ | 1,223 | $ | 1,008
Commerce products sales (b) |  | 111 |  | 103 |  |  | 69 |  | 61 |  |  | 54 |  | 36 |  |  | 8 |  | 17 |  |  | 242 |  | 217
Total commerce revenues | $ | 780 | $ | 678 |  | $ | 290 | $ | 235 |  | $ | 311 | $ | 220 |  | $ | 84 | $ | 92 |  | $ | 1,465 | $ | 1,225
Fintech services (c) | $ | 357 | $ | 256 |  | $ | 245 | $ | 109 |  | $ | 38 | $ | 23 |  | $ | 32 | $ | 19 |  | $ | 672 | $ | 407
Credit revenues (d) |  | 287 |  | 123 |  |  | 139 |  | 47 |  |  | 115 |  | 46 |  |  | 1 |  | — |  | 542 |  | 216
Fintech products sales (e) |  | 7 |  | 6 |  |  | 1 |  | 2 |  |  | 1 |  | 2 |  |  | 2 |  | — |  | 11 |  | 10
Total fintech revenues | $ | 651 | $ | 385 |  | $ | 385 | $ | 158 |  | $ | 154 | $ | 71 |  | $ | 35 | $ | 19 |  | $ | 1,225 | $ | 633
Total net revenues | $ | 1,431 | $ | 1,063 |  | $ | 675 | $ | 393 |  | $ | 465 | $ | 291 |  | $ | 119 | $ | 111 |  | $ | 2,690 | $ | 1,858
(a) | Includes final value fees paid by sellers derived from intermediation services and related shipping fees, classified fees derived from classified advertising services and ad sales.
(b) | Includes revenues from inventory sales and related shipping fees.
(c) | Includes revenues from commissions the Company charges for transactions off-platform derived from use of the Company's payment solution, revenues as a result of offering installments for the payment to its Mercado Pago users, either when the Company finances the transactions directly or when the Company sells the corresponding financial assets, Mercado Pago credit and debit card fees and insurtech fees.
(d) | Includes interest earned on loans and advances granted to merchants and consumers, and interest earned on Mercado Pago credit card transactions.
(e) | Includes sales of mobile point of sales devices.
Allocation Of Property And Equipment Based On Geography |
|  | September 30, |  | December 31,
|  | 2022 |  | 2021
|  | (In millions)
US property and equipment, net |  | $ 1 |  | $ 1
Other countries |  |  |  |
Argentina |  | 185 |  | 174
Brazil |  | 490 |  | 395
Mexico |  | 190 |  | 176
Other countries |  | 79 |  | 61
|  | $ 944 |  | $ 806
Total property and equipment, net |  | $ 945 |  | $ 807
Allocation Of Goodwill And Intangible Assets Based On Geography |
|  | September 30, |  | December 31,
|  | 2022 |  | 2021
|  | (In millions)
US intangible assets |  | $ 10 |  | $ 21
Other countries goodwill and intangible assets |  |  |  |
Argentina |  | 14 |  | 16
Brazil |  | 61 |  | 60
Mexico |  | 43 |  | 41
Chile |  | 39 |  | 45
Other countries |  | 9 |  | 10
|  | $ 166 |  | $ 172
Total goodwill and intangible assets |  | $ 176 |  | $ 193

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