XML 56 R40.htm IDEA: XBRL DOCUMENT v3.22.4
Balance Sheet Components (Tables)
 12 Months Ended
Dec. 31, 2022
Balance Sheet Components [Abstract]  
Schedule of Accounts Receivable, Net
December 31,
20222021
(In millions)
Users$91 $72 
Advertising32 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 merchantConsumerIn-store merchantCredit CardsTotal
(In millions)
Balance at beginning of year$79 $232 $76 $48 $435 
Net charged to Net Income109 600 139 210 1,058 
Currency translation adjustments1 (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 merchantConsumerIn-store merchantCredit CardsTotal
(In millions)
Balance at beginning of year$20 $45 $13 $— $78 
Net charged to Net Income75 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 merchantConsumerIn-store merchantTotal
(In millions)
Balance at beginning of year$9 $8 $3 $20 
Adoption of ASC 3262 2 1 5 
Net charged to Net Loss25 51 15 91 
Currency translation adjustments5 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 yearNet charged to Net income (loss)Charges Utilized/ Currency translation adjustments/ Write-offs and other adjustmentsBalance at end of year
(In millions)
Allowance for doubtful accounts
Year ended December 31, 2020$6 $6 $(5)$7 
Year ended December 31, 20217 4 (3)8 
Year ended December 31, 20228 9 (3)14 
Schedule of Credit Card Receivables And Other Means of Payments, Net
December 31,
20222021
(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 yearNet charged (credited) to Net income (loss)Charges Utilized/ Currency translation adjustments/ Write-offs and other adjustmentsBalance at end of year
(In millions)
Allowance for chargebacks
Year ended December 31, 2020$11 $54 $(47)$18 
Year ended December 31, 202118 24 (28)14 
Year ended December 31, 202214 13 (16)11 
Allowance for doubtful accounts
Year ended December 31, 2020$— $36 $(12)$24 
Year ended December 31, 202124 (3)(4)17 
Year ended December 31, 202217 (2)(15)— 
Schedule of Current Other Assets
December 31,
20222021
(In millions)
VAT credits$17 $26 
Income tax credits65 91 
Sales tax credits30 36 
Advance to ATM providers38 46 
Advance to suppliers17 8 
Derivative Instruments1 10 
Tax credit from promotional regime in Argentina15 13 
Incentives to be collected59 28 
Receivables with suppliers9 8 
Other15 22 
Current other assets$266 $288 
Schedule of Noncurrent Other Assets
December 31,
20222021
(In millions)
Judicial deposits$205 $113 
VAT credits12 — 
Income tax credits22 — 
Derivative Instruments— 7 
Other17 14 
Non current other assets$256 $134 
Schedule of Property and Equipment, Net
Estimated
useful life
(years)		December 31,
20222021
(In millions)
Equipment
3-5
$254 $194 
Land and building
50 (1)
118 141 
Furniture and fixtures
3-10
598 368 
Software 3647 457 
Vehicles459 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,
202220212020
(In millions)
Cost of net revenues$101 $50 $16 
Product and technology development182 83 54 
Sales and marketing 5 2 2 
General and administrative21 10 10 
Depreciation and amortization$309 $145 $82 
Schedule of Current Other Liabilities
December 31,
20222021
(In millions)
Deferred revenue$44 $34 
Contingent considerations and escrows from acquisitions11 6 
Customer advances37 30 
Derivative instruments17 6 
Incentives collected in advance1 3 
Other19 11 
Current other liabilities$129 $90 
Schedule of Noncurrent Other Liabilities
December 31,
20222021
(In millions)
Provisions and contingencies$53 $13 
Contingent considerations and escrows from acquisitions7 12 
Joint venture3 3 
Incentives collected in advance13 11 
Derivative instruments7 — 
Salaries and social security payable6 20 
Other6 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 reclassifications8 (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 $(409)$— $(407)
Other comprehensive (loss) income before reclassifications4 — (58)(1)(55)
Amount of (gain) loss reclassified from accumulated other comprehensive (loss) income (6)(2)— 2 (6)
Net current period other comprehensive income (loss) income(2)(2)(58)1 (61)
Ending balance$(2)$— $(467)$1 $(468)
Reclassifications Out of Accumulated Other Comprehensive Loss
The following table provides details about reclassifications out of accumulated other comprehensive loss for the year ended December 31, 2022, 2021 and 2020:
Details about Accumulated
Other Comprehensive loss
Components		Amount of (Loss) Gain Reclassified from Accumulated Other
Comprehensive loss		Affected Line Item
in the Statement of Income
Year Ended December 31,
202220212020
(In millions)
Unrealized (losses) gains on hedging activities$(20)$(2)$6 Cost of net revenues, interest expense and foreign exchange
Unrealized gains on investments— — 2 Interest income and other financial gains
Estimated tax benefit (expense) on unrealized (losses) gains6 1 (2)Income tax expense
Total reclassifications for the year$(14)$(1)$6 Total, net of income taxes