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LOANS RECEIVABLE, NET (Tables)

9 Months Ended

Sep. 30, 2024

The Company classifies loans receivable as “On-line merchant”, “In-store merchant”, “Consumer”, and “Credit cards”. As of September 30, 2024 and December 31, 2023, the components of current and non-current Loans receivable, net were as follows:


	September 30, 2024
	Loans receivable		Allowance for doubtful accounts		Loans receivable, net
	(In millions)
On-line merchant	$	495	$	(140)	$	355
In-store merchant	673		(253)		420
Consumer	2,504		(732)		1,772
Credit cards	2,344		(487)		1,857
Total	$	6,016	$	(1,612)	$	4,404


	December 31, 2023
	Loans receivable		Allowance for doubtful accounts		Loans receivable, net
	(In millions)
On-line merchant	$	429	$	(119)	$	310
In-store merchant	332		(137)		195
Consumer	1,808		(592)		1,216
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:


	September 30, 2024		December 31, 2023
	(In millions)
1-14 days past due	$	178	$	99
15-30 days past due	138		92
31-60 days past due	180		114
61-90 days past due	149		103
91-120 days past due	154		111
121-150 days past due	143		97
151-180 days past due	144		82
181-210 days past due	134		76
211-240 days past due	128		74
241-270 days past due	111		69
271-300 days past due	91		59
301-330 days past due	91		74
331-360 days past due	82		66
Total past due	1,723		1,116
To become due	4,293		2,662
Total	$	6,016	$	3,778

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, 2024 and 2023:


	September 30, 2024
	On-line merchant		In-store merchant		Consumer		Credit cards		Total
	(In millions)
Balance at beginning of year	$	119	$	137	$	592	$	236	$	1,084
Net charged to Net Income	107		221		575		406		1,309
Currency translation adjustments	(6)		(14)		(37)		(39)		(96)
Write-offs (1)	(80)		(91)		(398)		(116)		(685)
Balance at end of period	$	140	$	253	$	732	$	487	$	1,612


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

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