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FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Summary of Assets and Liabilities Measured at Fair Value | The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022:
| Balances as of December 31, 2023 |  | Quoted Prices in active markets for identical Assets (Level 1) |  | Significant other observable inputs (Level 2) |  |  |  | Balances as of December 31, 2022 |  | Quoted Prices in active markets for identical Assets (Level 1) |  | Significant other observable inputs (Level 2) |  | Unobservable inputs (Level 3)
| (In millions)
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market | $ | 639 |  |  | $ | 639 |  |  | $ | — |  |  |  |  | $ | 599 |  |  | $ | 599 |  |  | $ | — |  |  | $ | — |
U.S. government debt securities (1) | 60 |  |  | 60 |  |  | — |  |  |  |  | 21 |  |  | 21 |  |  | — |  |  | — |
Foreign government debt securities (1) | 32 |  |  | 32 |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
Restricted cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market (2) | 278 |  |  | 278 |  |  | — |  |  |  |  | 352 |  |  | 352 |  |  | — |  |  | — |
Foreign government debt securities (1) | 116 |  |  | 116 |  |  | — |  |  |  |  | 158 |  |  | 158 |  |  | — |  |  | — |
Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government debt securities (1) | 1,009 |  |  | 1,009 |  |  | — |  |  |  |  | 733 |  |  | 733 |  |  | — |  |  | — |
Foreign government debt securities (1) (3) | 2,530 |  |  | 2,530 |  |  | — |  |  |  |  | 1,433 |  |  | 1,433 |  |  | — |  |  | — |
Corporate debt securities | 30 |  |  | 30 |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments | 23 |  |  | — |  |  | 23 |  |  |  |  | 1 |  |  | — |  |  | 1 |  |  | — |
USDC | — |  |  | — |  |  | — |  |  |  |  | 3 |  |  | 3 |  |  | — |  |  | — |
Customer crypto-assets safeguarding assets | 34 |  |  | — |  |  | 34 |  |  |  |  | 15 |  |  | — |  |  | 15 |  |  | — |
Intangible assets at fair value | 24 |  |  | 24 |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
Total assets | $ | 4,775 |  |  | $ | 4,718 |  |  | $ | 57 |  |  |  |  | $ | 3,315 |  |  | $ | 3,299 |  |  | $ | 16 |  |  | $ | — |
Long-term retention program | $ | 104 |  |  | $ | — |  |  | $ | 104 |  |  |  |  | $ | 58 |  |  | $ | — |  |  | $ | 58 |  |  | $ | — |
Other liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent considerations | — |  |  | — |  |  | — |  |  |  |  | 8 |  |  | — |  |  | — |  |  | 8 |
Derivative instruments | 31 |  |  | — |  |  | 31 |  |  |  |  | 24 |  |  | — |  |  | 24 |  |  | — |
Customer crypto-assets safeguarding liabilities | 34 |  |  | — |  |  | 34 |  |  |  |  | 15 |  |  | — |  |  | 15 |  |  | — |
Total liabilities | $ | 169 |  |  | $ | — |  |  | $ | 169 |  |  |  |  | $ | 105 |  |  | $ | — |  |  | $ | 97 |  |  | $ | 8 |
(1) Measured at fair value with impact on the consolidated statements of income for the application of the fair value option. (See Note 2 – Summary of significant accounting policies – Fair value option applied to certain financial instruments.) (2) As of December 31, 2023 and 2022 includes $269 million and $314 million, respectively, of money market funds from securitization transactions. (See Note 5 – Cash, cash equivalents, restricted cash and cash equivalents and investments.) (3) As of December 31, 2023 and 2022 includes $23 million and $21 million, respectively, of investments from securitization transactions that are restricted to the payment of amounts due to third-party investors. In additional, includes foreign government debt securities that are also restricted due to regulations issued by the Central Banks and other regulators or because guarantees a line of credit. (See Note 5 – Cash, cash equivalents, restricted cash and cash equivalents and investments.)
Summary of Reconciliation of Financial Assets and Liabilities | The following tables summarize the reconciliation of the financial assets and liabilities measured at fair value using Level 3 inputs as of December 31, 2022:
| Year Ended December 31, 2022
| Derivative Instruments, net |  | Contingent Considerations (1)
| (In millions)
Balance, beginning of the year | $ | 11 |  |  | $ | (9) |
Net Additions | 3 |  |  | — |
Settlements | 7 |  |  | 1 |
Foreign Currency Translation | (5) |  |  | — |
Losses in Other Comprehensive Income | (15) |  |  | — |
Losses in Income Statement | (28) |  |  | — |
Transfers out of level 3 | 27 |  |  | — |
Balance, end of the year | $ | — |  |  | $ | (8) |
(1) As of December 31, 2023, the contingent considerations measured at fair value using Level 3 inputs were settled.
Summary of Debt Securities Classified as Available for Sale | The following table summarizes the net carrying amount of the corporate debt securities classified as available for sale, classified by its contractual maturities:
| Balances as of December 31, 2023
| (In millions)
One year or less | $ | 5 |
One year to two years | 12 |
Two years to three years | 4 |
Three years to four years | 3 |
Four years to five years | 6 |
Total available for sale investments | $ | 30 |
Summary of Debt Securities Classified as Held to Maturity | The following table summarizes the net carrying amount of the debt securities not classified as available for sale, classified by its contractual maturities or Management expectation to convert the investments into cash:
| Balances as of December 31, 2023 |  | Balances as of December 31, 2022
| (In millions)
One year or less | $ | 3,668 |  |  | $ | 2,079 |
One year to two years | 4 |  |  | 201 |
Two years to three years | — |  |  | 5 |
Three years to four years | 35 |  |  | — |
Four years to five years | 37 |  |  | 30 |
More than five years | 3 |  |  | 30 |
| $ | 3,747 |  |  | $ | 2,345 |
Summary of Estimated Fair Value Level of Financial Assets and Liabilities | The following table summarizes the estimated fair value level of the financial assets and liabilities of the Company not measured at fair value as of December 31, 2023 and 2022:
| Balances as of December 31, 2023 |  | Estimated fair value as of December 31, 2023 |  | Balances as of December 31, 2022 |  | Estimated fair value as of December 31, 2022
| (In millions)
Cash and cash equivalents | $ | 1,825 |  |  | $ | 1,825 |  |  | $ | 1,290 |  |  | $ | 1,290 |
Restricted cash and cash equivalents | 898 |  |  | 898 |  |  | 943 |  |  | 943 |
Investments | 15 |  |  | 15 |  |  | 439 |  |  | 439 |
Accounts receivables, net | 156 |  |  | 156 |  |  | 130 |  |  | 130 |
Credit card receivables and other means of payment, net | 3,632 |  |  | 3,632 |  |  | 2,946 |  |  | 2,946 |
Loans receivable, net | 2,694 |  |  | 2,676 |  |  | 1,736 |  |  | 1,761 |
Other assets | 131 |  |  | 131 |  |  | 273 |  |  | 273 |
Total Assets | $ | 9,351 |  |  | $ | 9,333 |  |  | $ | 7,757 |  |  | $ | 7,782 |
Accounts payable and accrued expenses | $ | 2,117 |  |  | $ | 2,117 |  |  | $ | 1,393 |  |  | $ | 1,393 |
Funds payable to customers | 4,475 |  |  | 4,475 |  |  | 3,454 |  |  | 3,454 |
Amounts payable due to credit and debit card transactions | 1,092 |  |  | 1,092 |  |  | 488 |  |  | 488 |
Salaries and social security payable | 441 |  |  | 441 |  |  | 349 |  |  | 349 |
Loans payable and other financial liabilities | 4,495 |  |  | 4,441 |  |  | 4,758 |  |  | 4,997 |
Other liabilities | 285 |  |  | 285 |  |  | 186 |  |  | 186 |
Total Liabilities | $ | 12,905 |  |  | $ | 12,851 |  |  | $ | 10,628 |  |  | $ | 10,867 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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