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Loans receivable, net (Tables)

9 Months Ended

Sep. 30, 2023

The Company classifies loans receivable as “On-line merchant”, “Consumer”, “In-store merchant” and “Credit cards”. As of September 30, 2023 and December 31, 2022, the components of Loans receivable, net were as follows:


	September 30, 2023
	Loans receivable		Allowance for doubtful accounts		Loans receivable, net
	(In millions)
On-line merchant	$	418	$	(120)	$	298
Consumer	1,827		(573)		1,254
In-store merchant	294		(127)		167
Credit cards	863		(204)		659
Total	$	3,402	$	(1,024)	$	2,378


	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

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:


	September 30, 2023		December 31, 2022
	(In millions)
1-30 days past due	$	183	$	118
31-60 days past due	98		88
61-90 days past due	78		86
91-120 days past due	83		103
121-150 days past due	81		110
151-180 days past due	73		112
181-210 days past due	69		100
211-240 days past due	74		93
241-270 days past due	71		89
271-300 days past due	72		73
301-330 days past due	82		85
331-360 days past due	84		75
Total past due	1,048		1,132
To become due	2,354		1,708
Total	$	3,402	$	2,840

Summary of Allowance for Uncollectible Accounts Activity

The following tables summarize the allowance for doubtful accounts activity during the nine-month periods ended September 30, 2023 and 2022:


	September 30, 2023
	On-line merchant		Consumer		In-store merchant		Credit cards		Total
	(In millions)
Balance at beginning of year	$	120	$	614	$	145	$	225	$	1,104
Net charged to Net Income	81		417		93		140		731
Currency translation adjustments	3		9		—		10		22
Write-offs (*)	(84)		(467)		(111)		(171)		(833)
Balance at end of period	$	120	$	573	$	127	$	204	$	1,024


	September 30, 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	83		457		111		191		842
Currency translation adjustments	(2)		(19)		(3)		(9)		(33)
Write-offs (*)	(48)		(133)		(48)		(7)		(236)
Balance at end of period	$	112	$	537	$	136	$	223	$	1,008

(*) The Company writes off loans when customer balance becomes 360 days past due.