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SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Financial Performance of Company's Reporting Segments

The following tables summarize the financial performance of the Company’s reporting segments:

			Nine Months Ended September 30, 2024
			Brazil						Mexico						Argentina						Other Countries						Total
			(In millions)
Net revenues and financial income			$	8,270					$	3,317					$	2,511					$	620					$	14,718
Direct costs			(6,528)						(2,707)						(1,449)						(543)						(11,227)
Direct contribution			1,742						610						1,062						77						3,491
Operating expenses and indirect costs of net revenues and financial expenses																											(1,680)
Income from operations																											1,811
Other income (expenses):
Interest income and other financial gains																											107
Interest expense and other financial losses																											(117)
Foreign currency losses, net																											(132)
Net income before income tax expense and equity in earnings of unconsolidated entity																											$	1,669

			Nine Months Ended September 30, 2023 (1)
			Brazil						Mexico						Argentina						Other Countries						Total
			(In millions)
Net revenues and financial income			$	5,544					$	2,129					$	2,552					$	473					$	10,698
Direct costs			(4,183)						(1,593)						(1,314)						(445)						(7,535)
Direct contribution			1,361						536						1,238						28						3,163
Operating expenses and indirect costs of net revenues and financial expenses																											(1,291)
Income from operations																											1,872
Other income (expenses):
Interest income and other financial gains																											95
Interest expense and other financial losses																											(136)
Foreign currency losses, net																											(508)
Net income before income tax expense and equity in earnings of unconsolidated entity																											$	1,323

(1) Recast for consistency with the current presentation due to the change in the presentation of certain financial results. Please refer to Note 2 – Summary of significant accounting policies - Change in the presentation of certain financial results and reclassification of prior year results.

			Three Months Ended September 30, 2024
			Brazil						Mexico						Argentina						Other Countries						Total
			(In millions)
Net revenues and financial income			$	2,913					$	1,145					$	1,033					$	221					$	5,312
Direct costs			(2,408)						(953)						(576)						(191)						(4,128)
Direct contribution			505						192						457						30						1,184
Operating expenses and indirect costs of net revenues and financial expenses																											(627)
Income from operations																											557
Other income (expenses):
Interest income and other financial gains																											43
Interest expense and other financial losses																											(40)
Foreign currency losses, net																											(40)
Net income before income tax expense and equity in earnings of unconsolidated entity																											$	520

			Three Months Ended September 30, 2023 (1)
			Brazil						Mexico						Argentina						Other Countries						Total
			(In millions)
Net revenues and financial income			$	2,063					$	795					$	910					$	159					$	3,927
Direct costs			(1,492)						(605)						(447)						(155)						(2,699)
Direct contribution			571						190						463						4						1,228
Operating expenses and indirect costs of net revenues and financial expenses																											(443)
Income from operations																											785
Other income (expenses):
Interest income and other financial gains																											38
Interest expense and other financial losses																											(53)
Foreign currency losses, net																											(239)
Net income before income tax expense and equity in earnings of unconsolidated entity																											$	531

(1) Recast for consistency with the current presentation due to the change in the presentation of certain financial results. Please refer to Note 2 – Summary of significant accounting policies - Change in the presentation of certain financial results and reclassification of prior year results.

Consolidated Net Revenues by Similar Products and Services

The following table summarizes net revenues and financial income per reporting segment, which have been disaggregated by similar products and services for the nine and three-month periods ended September 30, 2024 and 2023:

			Nine Months Ended September 30,
			Brazil									Mexico									Argentina									Other Countries									Total
			2024			2023 (1)						2024			2023 (1)						2024			2023 (1)						2024			2023 (1)						2024			2023 (1)
			(In millions)
Commerce services (2)			$	4,176		$	2,615					$	1,864		$	1,160					$	795		$	727					$	396		$	293					$	7,231		$	4,795
Commerce products sales (3)			897			552						306			212						123			158						48			23						1,374			945
Total commerce revenues			5,073			3,167						2,170			1,372						918			885						444			316						8,605			5,740
Financial services and income (4)			1,793			1,554						398			261						1,165			1,162						165			143						3,521			3,120
Credit revenues (5)			1,384			808						738			489						425			502						8			5						2,555			1,804
Fintech products sales (6)			20			15						11			7						3			3						3			9						37			34
Total fintech revenues			3,197			2,377						1,147			757						1,593			1,667						176			157						6,113			4,958
Total net revenues and financial income			$	8,270		$	5,544					$	3,317		$	2,129					$	2,511		$	2,552					$	620		$	473					$	14,718		$	10,698

			Three Months Ended September 30,
			Brazil									Mexico									Argentina									Other Countries									Total
			2024			2023 (1)						2024			2023 (1)						2024			2023 (1)						2024			2023 (1)						2024			2023 (1)
			(In millions)
Commerce services (2)			$	1,452		$	1,007					$	647		$	429					$	358		$	260					$	144		$	100					$	2,601		$	1,796
Commerce products sales (3)			357			204						111			70						53			50						17			8						538			332
Total commerce revenues			1,809			1,211						758			499						411			310						161			108						3,139			2,128
Financial services and income (4)			597			544						137			98						458			429						57			47						1,249			1,118
Credit revenues (5)			499			304						246			195						163			171						2			2						910			672
Fintech products sales (6)			8			4						4			3						1			—						1			2						14			9
Total fintech revenues			1,104			852						387			296						622			600						60			51						2,173			1,799
Total net revenues and financial income			$	2,913		$	2,063					$	1,145		$	795					$	1,033		$	910					$	221		$	159					$	5,312		$	3,927

(1) Recast for consistency with the current presentation due to the change in the presentation of certain financial results. Please refer to Note 2 – Summary of significant accounting policies - Change in the presentation of certain financial results and reclassification of prior year results.

(2) Includes final value fees and flat fees paid by sellers derived from intermediation services and related shipping and storage fees, classified fees derived from classified advertising services and ad sales.

(3) Includes revenues from inventory sales and related shipping fees.

(4) Includes revenues from commissions the Company charges for transactions off-platform derived from use of the Company’s payment solution and asset management product, revenues as a result of offering installments for the payment to its Mercado Pago users, either when the Company finances the transactions directly or when the Company sells the corresponding financial assets, interest earned on cash and investments as part of Mercado Pago activities, including those required due to fintech regulations, net of interest gains pass through our Brazilian users in connection with our asset management product, Mercado Pago debit card commissions and insurtech fees.

(5) Includes interest earned on loans and advances granted to merchants and consumers, and interest and commissions earned on Mercado Pago credit card transactions.

(6) Includes sales of mobile point of sales devices.

Allocation of Property and Equipment Based on Geography

The following table summarizes the allocation of property and equipment, net based on geography:

			September 30, 2024						December 31, 2023
			(In millions)
US property and equipment, net			$	3					$	2
Other countries
Brazil			585						603
Mexico			376						345
Argentina			226						208
Other countries			93						92
			1,280						1,248
Total property and equipment, net			$	1,283					$	1,250

Schedule of Operating Lease Right of Use Assets Based on Geography

The following table summarizes the allocation of the operating lease right-of-use assets based on geography:

			September 30, 2024						December 31, 2023
			(In millions)
US right of use asset, net			$	4					$	—
Other countries
Brazil			437						396
Mexico			421						380
Argentina			38						51
Other countries			68						72
			964						899
Total right of use asset, net			$	968					$	899

Allocation of Goodwill and Intangible Assets Based on Geography

The following table summarizes the allocation of the goodwill and intangible assets based on geography:

			September 30, 2024						December 31, 2023
			(In millions)
US intangible assets at fair value			34						$	24
			$	34					$	24
Goodwill and intangible assets, net
Brazil			$	62					$	68
Mexico			39						44
Argentina			12						12
Other countries			48						50
			161						174
Total goodwill and intangible assets			$	195					$	198

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