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Loans Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2022


	December 31,
	2022		2021
	(In millions)
Loans receivable	$	2,778	$	1,607
Allowance for doubtful accounts	(1,074)		(408)
Current loans receivable, net	$	1,704	$	1,199

Non Current Loans Receivable, Net


	December 31,
	2022		2021
	(In millions)
Loans receivable	$	62	$	88
Allowance for doubtful accounts	(30)		(27)
Non current loans receivable, net	$	32	$	61

Schedule of Loans Receivable, Net

The Company classifies loans receivable as “On-line merchant”, “Consumer”, “In-store merchant” and “Credit Cards”. As of December 31, 2022 and December 31, 2021, Loans receivable, net were as follows:


	December 31, 2022
	Loans receivable		Allowance for doubtful accounts		Loans receivable, net
	(In millions)
On-line merchant	$	394	$	(120)	$	274
Consumer	1,568		(614)		954
In-store merchant	267		(145)		122
Credit Cards	611		(225)		386
Total	$	2,840	$	(1,104)	$	1,736


	December 31, 2021
	Loans receivable		Allowance for doubtful accounts		Loans receivable, net
	(In millions)
On-line merchant	$	361	$	(79)	$	282
Consumer	851		(232)		619
In-store merchant	187		(76)		111
Credit Cards	296		(48)		248
Total	$	1,695	$	(435)	$	1,260

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 Credit Quality Analysis of Loans Receivables

The amortized cost of the loans receivable classified by the Company’s credit quality internal indicator was as follows:


	December 31, 2022		December 31, 2021
	(In millions)
1-30 days past due	$	118	$	90
31-60 days past due	88		47
61 -90 days past due	86		37
91 -120 days past due	103		37
121 -150 days past due	110		31
151 -180 days past due	112		25
181 -210 days past due	100		24
211 -240 days past due	93		23
241 -270 days past due	89		21
271 -300 days past due	73		21
301 -330 days past due	85		30
331 -360 days past due	75		25
Total past due	1,132		411
To become due	1,708		1,284
Total	$	2,840	$	1,695