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BALANCE SHEET COMPONENTS | 12 Months Ended
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Dec. 31, 2023
Balance Sheet Components [Abstract] |
BALANCE SHEET COMPONENTS | BALANCE SHEET COMPONENTS Accounts receivable, net
| December 31,
| 2023 |  | 2022
| (In millions)
Accounts receivable | $ | 177 |  |  | $ | 144 |
Allowance for doubtful accounts | (21) |  |  | (14) |
Accounts receivable, net | $ | 156 |  |  | $ | 130 |
The following table summarizes the allowance for doubtful accounts activity during the years ended December 31, 2023, 2022 and 2021:
| Year ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
Balance at beginning of year | $ | 14 |  |  | $ | 8 |  |  | $ | 7 |
Net charged to Net income | 22 |  |  | 9 |  |  | 4 |
Charges utilized/ Currency translation adjustments/ Write-offs and other adjustments | (15) |  |  | (3) |  |  | (3) |
Balance at end of year | $ | 21 |  |  | $ | 14 |  |  | $ | 8 |
Credit card receivables and other means of payments, net
| December 31,
| 2023 |  | 2022
| (In millions)
Credit card receivables and other means of payments | $ | 3,653 |  |  | $ | 2,957 |
Allowance for chargebacks | (17) |  |  | (11) |
Allowance for doubtful accounts | (4) |  |  | — |
Credit card receivables and other means of payments, net | $ | 3,632 |  |  | $ | 2,946 |
The following tables summarize the allowance for chargebacks and the allowance for doubtful accounts activity during the years ended December 31, 2023, 2022 and 2021:
| Year ended December 31,
| 2023 |  | 2022 |  | 2021
Allowance for chargebacks | (In millions)
Balance at beginning of year | $ | 11 |  |  | $ | 14 |  |  | $ | 18 |
Net charged to Net income | 35 |  |  | 13 |  |  | 24 |
Charges utilized/ Currency translation adjustments/ Write-offs and other adjustments | (29) |  |  | (16) |  |  | (28) |
Balance at end of year | $ | 17 |  |  | $ | 11 |  |  | $ | 14 |
| Year ended December 31,
| 2023 |  | 2022 |  | 2021
Allowance for doubtful accounts | (In millions)
Balance at beginning of year | $ | — |  |  | $ | 17 |  |  | $ | 24 |
Net charged (credited) to Net income | 4 |  |  | (2) |  |  | (3) |
Charges utilized/ Currency translation adjustments/ Write-offs and other adjustments | — |  |  | (15) |  |  | (4) |
Balance at end of year | $ | 4 |  |  | $ | — |  |  | $ | 17 |
Other assets
| December 31,
| 2023 |  | 2022
| (In millions)
VAT credits | $ | 25 |  |  | $ | 17 |
Income tax credits | 26 |  |  | 65 |
Sales tax credits | 54 |  |  | 30 |
Advance to ATM providers | 14 |  |  | 38 |
Advance to suppliers | 46 |  |  | 17 |
Derivative instruments | 1 |  |  | 1 |
Tax credit from promotional regime in Argentina | 15 |  |  | 15 |
Incentives to be collected | 35 |  |  | 59 |
Receivables with suppliers | 3 |  |  | 9 |
Prepaid expenses | 27 |  |  | 38 |
Other | 31 |  |  | 15 |
Current other assets | $ | 277 |  |  | $ | 304 |
| December 31,
| 2023 |  | 2022
| (In millions)
Judicial deposits | $ | 8 |  |  | $ | 205 |
VAT credits | 2 |  |  | 12 |
Income tax credits | 4 |  |  | 22 |
Derivative instruments | 22 |  |  | — |
Other | 32 |  |  | 17 |
Non current other assets | $ | 68 |  |  | $ | 256 |
Property and equipment, net
| Estimated useful life (years) |  | December 31,
|  | 2023 |  | 2022
|  |  | (In millions)
Equipment | 3-5 |  | $ | 248 |  |  | $ | 254 |
Land and building | 50 (1) |  | 145 |  |  | 118 |
Furniture and fixtures | 3-10 |  | 835 |  |  | 598 |
Software | 3 |  | 694 |  |  | 647 |
Vehicles | 4 |  | 151 |  |  | 59 |
Subtotal |  |  | 2,073 |  |  | 1,676 |
Accumulated depreciation |  |  | (823) |  |  | (683) |
Property and equipment, net |  |  | $ | 1,250 |  |  | $ | 993 |
(1) Estimated useful life attributable to “building”.
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
Cost of net revenues | $ | 149 |  |  | $ | 101 |  |  | $ | 50 |
Product and technology development | 232 |  |  | 182 |  |  | 83 |
Sales and marketing | 7 |  |  | 5 |  |  | 2 |
General and administrative | 16 |  |  | 21 |  |  | 10 |
Depreciation and amortization | $ | 404 |  |  | $ | 309 |  |  | $ | 145 |
Other liabilities
| December 31,
| 2023 |  | 2022
| (In millions)
Deferred revenue | $ | 29 |  |  | $ | 44 |
Contingent considerations and escrows from acquisitions | 1 |  |  | 11 |
Customer advances | 36 |  |  | 37 |
Derivative instruments | 21 |  |  | 17 |
Other | 32 |  |  | 20 |
Current other liabilities | $ | 119 |  |  | $ | 129 |
| December 31,
| 2023 |  | 2022
| (In millions)
Provisions and contingencies | $ | 124 |  |  | $ | 53 |
Contingent considerations and escrows from acquisitions | 8 |  |  | 7 |
Joint venture | — |  |  | 3 |
Incentives collected in advance | 9 |  |  | 13 |
Derivative instruments | 10 |  |  | 7 |
Salaries and social security payable | — |  |  | 6 |
Other | 49 |  |  | 6 |
Non current other liabilities | $ | 200 |  |  | $ | 95 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//210/tableOfContent + Details
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