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Balance Sheet Components (Tables) | 12 Months Ended
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Dec. 31, 2022
Balance Sheet Components [Abstract] |
Schedule of Accounts Receivable, Net |
| December 31,
| 2022 |  | 2021
| (In millions)
Users | $ | 91 |  |  | $ | 72 |
Advertising | 32 |  |  | 24 |
Others debtors | 21 |  |  | 10 |
| 144 |  |  | 106 |
Allowance for doubtful accounts | (14) |  |  | (8) |
Accounts receivable, net | $ | 130 |  |  | $ | 98 |
The following tables summarize the allowance for doubtful accounts activity during the years ended December 31, 2022, 2021 and 2020:
| December 31, 2022
| On-line merchant |  | Consumer |  | In-store merchant |  | Credit Cards |  | Total
| (In millions)
Balance at beginning of year | $ | 79 |  |  | $ | 232 |  |  | $ | 76 |  |  | $ | 48 |  |  | $ | 435 |
Net charged to Net Income | 109 |  |  | 600 |  |  | 139 |  |  | 210 |  |  | 1,058 |
Currency translation adjustments | 1 |  |  | (9) |  |  | (1) |  |  | (1) |  |  | (10) |
Write-offs | (69) |  |  | (209) |  |  | (69) |  |  | (32) |  |  | (379) |
Balance at end of year | $ | 120 |  |  | $ | 614 |  |  | $ | 145 |  |  | $ | 225 |  |  | $ | 1,104 |
| December 31, 2021
| On-line merchant |  | Consumer |  | In-store merchant |  | Credit Cards |  | Total
| (In millions)
Balance at beginning of year | $ | 20 |  |  | $ | 45 |  |  | $ | 13 |  |  | $ | — |  |  | $ | 78 |
Net charged to Net Income | 75 |  |  | 234 |  |  | 74 |  |  | 51 |  |  | 434 |
Currency translation adjustments | (3) |  |  | (7) |  |  | (3) |  |  | — |  |  | (13) |
Write-offs | (13) |  |  | (40) |  |  | (8) |  |  | (3) |  |  | (64) |
Balance at end of year | $ | 79 |  |  | $ | 232 |  |  | $ | 76 |  |  | $ | 48 |  |  | $ | 435 |
The increase in write-offs, for the year ended December 31, 2022 compared to the same period in 2021, is mainly generated by higher originations of loans receivable in 2022.
| December 31, 2020
| On-line merchant |  | Consumer |  | In-store merchant |  | Total
| (In millions)
Balance at beginning of year | $ | 9 |  |  | $ | 8 |  |  | $ | 3 |  |  | $ | 20 |
Adoption of ASC 326 | 2 |  |  | 2 |  |  | 1 |  |  | 5 |
Net charged to Net Loss | 25 |  |  | 51 |  |  | 15 |  |  | 91 |
Currency translation adjustments | 5 |  |  | 2 |  |  | — |  |  | 7 |
Write-offs | (21) |  |  | (18) |  |  | (6) |  |  | (45) |
Balance at end of year | $ | 20 |  |  | $ | 45 |  |  | $ | 13 |  |  | $ | 78 |
Schedule of Allowance for Doubtful Accounts | The following table summarizes the allowance for doubtful accounts activity during the years ended December 31, 2022, 2021 and 2020:
| Balance at beginning of year |  | Net charged to Net income (loss) |  | Charges Utilized/ Currency translation adjustments/ Write-offs and other adjustments |  | Balance at end of year
| (In millions)
Allowance for doubtful accounts |  |  |  |  |  |  |
Year ended December 31, 2020 | $ | 6 |  |  | $ | 6 |  |  | $ | (5) |  |  | $ | 7 |
Year ended December 31, 2021 | 7 |  |  | 4 |  |  | (3) |  |  | 8 |
Year ended December 31, 2022 | 8 |  |  | 9 |  |  | (3) |  |  | 14 |
Schedule of Credit Card Receivables And Other Means of Payments, Net |
| December 31,
| 2022 |  | 2021
| (In millions)
Credit card receivables and other means of payments | $ | 2,957 |  |  | $ | 1,870 |
Allowance for chargebacks | (11) |  |  | (14) |
Allowance for doubtful accounts | — |  |  | (17) |
Credit card receivables and other means of payments, net | $ | 2,946 |  |  | $ | 1,839 |
Schedule of Allowance for Doubtful Accounts and Allowance for Chargebacks | The following table summarizes the allowance for chargebacks and the allowance for doubtful accounts activity during the years ended December 31, 2022, 2021 and 2020:
| Balance at beginning of year |  | Net charged (credited) to Net income (loss) |  | Charges Utilized/ Currency translation adjustments/ Write-offs and other adjustments |  | Balance at end of year
| (In millions)
Allowance for chargebacks |  |  |  |  |  |  |
Year ended December 31, 2020 | $ | 11 |  |  | $ | 54 |  |  | $ | (47) |  |  | $ | 18 |
Year ended December 31, 2021 | 18 |  |  | 24 |  |  | (28) |  |  | 14 |
Year ended December 31, 2022 | 14 |  |  | 13 |  |  | (16) |  |  | 11 |
Allowance for doubtful accounts |  |  |  |  |  |  |
Year ended December 31, 2020 | $ | — |  |  | $ | 36 |  |  | $ | (12) |  |  | $ | 24 |
Year ended December 31, 2021 | 24 |  |  | (3) |  |  | (4) |  |  | 17 |
Year ended December 31, 2022 | 17 |  |  | (2) |  |  | (15) |  |  | — |
Schedule of Current Other Assets |
| December 31,
| 2022 |  | 2021
| (In millions)
VAT credits | $ | 17 |  |  | $ | 26 |
Income tax credits | 65 |  |  | 91 |
Sales tax credits | 30 |  |  | 36 |
Advance to ATM providers | 38 |  |  | 46 |
Advance to suppliers | 17 |  |  | 8 |
Derivative Instruments | 1 |  |  | 10 |
Tax credit from promotional regime in Argentina | 15 |  |  | 13 |
Incentives to be collected | 59 |  |  | 28 |
Receivables with suppliers | 9 |  |  | 8 |
Other | 15 |  |  | 22 |
Current other assets | $ | 266 |  |  | $ | 288 |
Schedule of Noncurrent Other Assets |
| December 31,
| 2022 |  | 2021
| (In millions)
Judicial deposits | $ | 205 |  |  | $ | 113 |
VAT credits | 12 |  |  | — |
Income tax credits | 22 |  |  | — |
Derivative Instruments | — |  |  | 7 |
Other | 17 |  |  | 14 |
Non current other assets | $ | 256 |  |  | $ | 134 |
Schedule of Property and Equipment, Net |
| Estimated useful life (years) |  | December 31,
|  | 2022 |  | 2021
|  |  | (In millions)
Equipment | 3-5 |  | $ | 254 |  |  | $ | 194 |
Land and building | 50 (1) |  | 118 |  |  | 141 |
Furniture and fixtures | 3-10 |  | 598 |  |  | 368 |
Software | 3 |  | 647 |  |  | 457 |
Vehicles | 4 |  | 59 |  |  | 38 |
|  |  | 1,676 |  |  | 1,198 |
Accumulated depreciation |  |  | (683) |  |  | (391) |
Property and equipment, net |  |  | $ | 993 |  |  | $ | 807 |
(1)Estimated useful life attributable to “building”.
Schedule of Depreciation and Amortization |
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (In millions)
Cost of net revenues | $ | 101 |  |  | $ | 50 |  |  | $ | 16 |
Product and technology development | 182 |  |  | 83 |  |  | 54 |
Sales and marketing | 5 |  |  | 2 |  |  | 2 |
General and administrative | 21 |  |  | 10 |  |  | 10 |
Depreciation and amortization | $ | 309 |  |  | $ | 145 |  |  | $ | 82 |
Schedule of Current Other Liabilities |
| December 31,
| 2022 |  | 2021
| (In millions)
Deferred revenue | $ | 44 |  |  | $ | 34 |
Contingent considerations and escrows from acquisitions | 11 |  |  | 6 |
Customer advances | 37 |  |  | 30 |
Derivative instruments | 17 |  |  | 6 |
Incentives collected in advance | 1 |  |  | 3 |
Other | 19 |  |  | 11 |
Current other liabilities | $ | 129 |  |  | $ | 90 |
Schedule of Noncurrent Other Liabilities |
| December 31,
| 2022 |  | 2021
| (In millions)
Provisions and contingencies | $ | 53 |  |  | $ | 13 |
Contingent considerations and escrows from acquisitions | 7 |  |  | 12 |
Joint venture | 3 |  |  | 3 |
Incentives collected in advance | 13 |  |  | 11 |
Derivative instruments | 7 |  |  | — |
Salaries and social security payable | 6 |  |  | 20 |
Other | 6 |  |  | 3 |
Non current other liabilities | $ | 95 |  |  | $ | 62 |
Summary of Changes In Accumulated Balances of Other Comprehensive Loss | The following table summarizes the changes in accumulated balances of other comprehensive loss for the year ended December 31, 2022:
| Unrealized Gains (Loss) on hedging activities, net |  | Foreign Currency Translation |  | Estimated tax benefit (expense) |  | Total December 31, 2022
| (In millions)
Balances as of December 31, 2021 | $ | 8 |  |  | $ | (523) |  |  | $ | — |  |  | $ | (515) |
Other comprehensive income (loss) before reclassifications | (33) |  |  | 61 |  |  | 9 |  |  | 37 |
Amount of (gain) loss reclassified from accumulated other comprehensive income (loss) | 20 |  |  | — |  |  | (6) |  |  | 14 |
Net current period other comprehensive income (loss) | (13) |  |  | 61 |  |  | 3 |  |  | 51 |
Ending balance | $ | (5) |  |  | $ | (462) |  |  | $ | 3 |  |  | $ | (464) |
The following table summarizes the changes in accumulated balances of other comprehensive loss for the year ended December 31, 2021:
| Unrealized (Loss) Gains on hedging activities, net |  | Foreign Currency Translation |  | Estimated tax benefit (expense) |  | Total December 31, 2021
| (In millions) |  |
Balances as of December 31, 2020 | $ | (2) |  |  | $ | (467) |  |  | $ | 1 |  |  | $ | (468) |
Other comprehensive income (loss) before reclassifications | 8 |  |  | (56) |  |  | — |  |  | (48) |
Amount of (gain) loss reclassified from accumulated other comprehensive income (loss) | 2 |  |  | — |  |  | (1) |  |  | 1 |
Net current period other comprehensive income (loss) | 10 |  |  | (56) |  |  | (1) |  |  | (47) |
Ending balance | $ | 8 |  |  | $ | (523) |  |  | $ | — |  |  | $ | (515) |
The following table summarizes the changes in accumulated balances of other comprehensive loss for the year ended December 31, 2020:
| Unrealized (Loss) Gains on hedging activities, net |  | Unrealized (Loss) Gains on Investments |  | Foreign Currency Translation |  | Estimated tax (expense) benefit |  | Total December 31, 2020
| (In millions) |  |
Balances as of December 31, 2019 | $ | — |  |  | $ | 2 |  |  | $ | (409) |  |  | $ | — |  |  | $ | (407) |
Other comprehensive (loss) income before reclassifications | 4 |  |  | — |  |  | (58) |  |  | (1) |  |  | (55) |
Amount of (gain) loss reclassified from accumulated other comprehensive (loss) income | (6) |  |  | (2) |  |  | — |  |  | 2 |  |  | (6) |
Net current period other comprehensive income (loss) income | (2) |  |  | (2) |  |  | (58) |  |  | 1 |  |  | (61) |
Ending balance | $ | (2) |  |  | $ | — |  |  | $ | (467) |  |  | $ | 1 |  |  | $ | (468) |
Reclassifications Out of Accumulated Other Comprehensive Loss | The following table provides details about reclassifications out of accumulated other comprehensive loss for the year ended December 31, 2022, 2021 and 2020:
Details about Accumulated Other Comprehensive loss Components | Amount of (Loss) Gain Reclassified from Accumulated Other Comprehensive loss | Affected Line Item in the Statement of Income
| Year Ended December 31, |
| 2022 |  | 2021 |  | 2020 |
| (In millions) |
Unrealized (losses) gains on hedging activities | $ | (20) |  |  | $ | (2) |  |  | $ | 6 |  | Cost of net revenues, interest expense and foreign exchange
Unrealized gains on investments | — |  |  | — |  |  | 2 |  | Interest income and other financial gains
Estimated tax benefit (expense) on unrealized (losses) gains | 6 |  |  | 1 |  |  | (2) |  | Income tax expense
Total reclassifications for the year | $ | (14) |  |  | $ | (1) |  |  | $ | 6 |  | Total, net of income taxes

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