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LOANS RECEIVABLE, NET (Tables)

3 Months Ended

Mar. 31, 2024

The Company classifies loans receivable as “On-line merchant”, “Consumer”, “In-store merchant” and “Credit cards”. As of March 31, 2024 and December 31, 2023, the components of current and non-current Loans receivable, net were as follows:


	March 31, 2024
	Loans receivable		Allowance for doubtful accounts		Loans receivable, net
	(In millions)
On-line merchant	$	445	$	(123)	$	322
Consumer	2,014		(660)		1,354
In-store merchant	450		(166)		284
Credit cards	1,539		(294)		1,245
Total	$	4,448	$	(1,243)	$	3,205


	December 31, 2023
	Loans receivable		Allowance for doubtful accounts		Loans receivable, net
	(In millions)
On-line merchant	$	429	$	(119)	$	310
Consumer	1,808		(592)		1,216
In-store merchant	332		(137)		195
Credit cards	1,209		(236)		973
Total	$	3,778	$	(1,084)	$	2,694

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:


	March 31, 2024		December 31, 2023
	(In millions)
1-14 days past due	$	131	$	99
15-30 days past due	128		92
31-60 days past due	151		114
61-90 days past due	136		103
91-120 days past due	105		111
121-150 days past due	114		97
151-180 days past due	106		82
181-210 days past due	104		76
211-240 days past due	91		74
241-270 days past due	76		69
271-300 days past due	71		59
301-330 days past due	65		74
331-360 days past due	64		66
Total past due	1,342		1,116
To become due	3,106		2,662
Total	$	4,448	$	3,778

Summary of Allowance for Uncollectible Accounts Activity

The following tables summarize the allowance for doubtful accounts activity during the three-month periods ended March 31, 2024 and 2023:


	March 31, 2024
	On-line merchant		Consumer		In-store merchant		Credit cards		Total
	(In millions)
Balance at beginning of year	$	119	$	592	$	137	$	236	$	1,084
Net charged to Net Income	31		178		60		102		371
Currency translation adjustments	(3)		(2)		(3)		(6)		(14)
Write-offs (1)	(24)		(108)		(28)		(38)		(198)
Balance at end of period	$	123	$	660	$	166	$	294	$	1,243


	March 31, 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	28		126		29		57		240
Currency translation adjustments	4		18		2		6		30
Write-offs (1)	(28)		(119)		(35)		(51)		(233)
Balance at end of period	$	124	$	639	$	141	$	237	$	1,141

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