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Segment Reporting (Tables)
9 Months Ended
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