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Summary of significant accounting policies (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Assets, Liabilities and Net Assets of Company's Argentinean Subsidiaries

The following table sets forth the assets, liabilities and net assets of the Company’s Argentine subsidiaries and consolidated VIEs, before intercompany eliminations, as of June 30, 2023 and December 31, 2022:


	June 30, 2023		December 31, 2022
	(In millions)
Assets	$	3,696	$	3,238
Liabilities	2,486		2,419
Net Assets	$	1,210	$	819

Schedule of Net Revenues and Net Income Before Income Tax of Company's Subsidiaries

The following table provides information relating to net revenues and direct contribution (see Note 8 of these unaudited interim condensed consolidated financial statements for definition of direct contribution) for the six and three-month periods ended June 30, 2023 and 2022 of the Company’s Argentine subsidiaries and consolidated VIEs:


	Six Months Ended June 30,				Three Months Ended June 30,
	2023		2022		2023		2022
	(In millions)				(In millions)
Net revenues	$	1,492	$	1,112	$	771	$	594
Direct contribution	644		420		335		222

Summary of Changes in Accumulated Balances of Other Comprehensive Loss

The following tables summarize the changes in accumulated balances of other comprehensive income (loss) for the six-month periods ended June 30, 2023 and 2022:


	Unrealized (Loss) Gains on hedging activities, net		Foreign Currency Translation		Estimated tax benefit (expense)		Total
	(In millions)
Balances as of December 31, 2022	$	(5)	$	(462)	$	3	$	(464)
Other comprehensive income (loss) before reclassifications	(10)		175		3		168
Amount of (gain) loss reclassified from accumulated other comprehensive income (loss)	2		—		(1)		1
Net current period other comprehensive income (loss)	(8)		175		2		169
Balances as of June 30, 2023	$	(13)	$	(287)	$	5	$	(295)


	Unrealized Gains (Loss) on hedging activities, net		Foreign Currency Translation		Estimated tax benefit (expense)		Total
	(In millions)
Balances as of December 31, 2021	$	8	$	(523)	$	—	$	(515)
Other comprehensive income (loss) before reclassifications	(24)		38		5		19
Amount of (gain) loss reclassified from accumulated other comprehensive income (loss)	9		—		(2)		7
Net current period other comprehensive income (loss)	(15)		38		3		26
Balances as of June 30, 2022	$	(7)	$	(485)	$	3	$	(489)

Reclassifications out of Accumulated Other Comprehensive Loss

The following table provides details about reclassifications out of accumulated other comprehensive loss for the six months ended June 30, 2023 and 2022:


Details about Accumulated Other Comprehensive loss Components	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive loss				Affected Line Item in the Statement of Income
	Six Months Ended June 30,
	2023		2022
	(In millions)
Unrealized losses on hedging activities	$	(2)	$	(9)	Cost of net revenues, interest expense and foreign currency losses
Estimated tax benefit on unrealized losses	1		2		Income tax expense
Total reclassifications for the period	$	(1)	$	(7)	Total, net of income taxes