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BALANCE SHEET COMPONENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
Balance Sheet Components [Abstract] |
Schedule of Accounts Receivable, Net |
| December 31,
| 2024 |  | 2023
| (In millions)
Accounts receivable | $ | 270 |  |  | $ | 177 |
Allowance for doubtful accounts | (15) |  |  | (21) |
Accounts receivable, net | $ | 255 |  |  | $ | 156 |
The following tables summarize the allowance for doubtful accounts activity during the years ended December 31, 2024, 2023 and 2022:
| December 31, 2024
| Merchant |  | Consumer |  | Credit cards |  | Asset-backed |  | Total
| (In millions)
Balance at beginning of year | $ | 256 |  |  | $ | 591 |  |  | $ | 236 |  |  | $ | 1 |  |  | $ | 1,084 |
Net charged to Net Income | 452 |  |  | 759 |  |  | 595 |  |  | 9 |  |  | 1,815 |
Currency translation adjustments | (82) |  |  | (155) |  |  | (98) |  |  | (1) |  |  | (336) |
Write-offs | (209) |  |  | (499) |  |  | (176) |  |  | (1) |  |  | (885) |
Balance at end of year | $ | 417 |  |  | $ | 696 |  |  | $ | 557 |  |  | $ | 8 |  |  | $ | 1,678 |
| December 31, 2023
| Merchant |  | Consumer |  | Credit cards |  | Asset-backed |  | Total
| (In millions)
Balance at beginning of year | $ | 265 |  |  | $ | 614 |  |  | $ | 225 |  |  | $ | — |  |  | $ | 1,104 |
Net charged to Net Income | 233 |  |  | 571 |  |  | 211 |  |  | 1 |  |  | 1,016 |
Currency translation adjustments | 9 |  |  | 6 |  |  | 18 |  |  | — |  |  | 33 |
Write-offs | (251) |  |  | (600) |  |  | (218) |  |  | — |  |  | (1,069) |
Balance at end of year | $ | 256 |  |  | $ | 591 |  |  | $ | 236 |  |  | $ | 1 |  |  | $ | 1,084 |
| December 31, 2022
| Merchant |  | Consumer |  | Credit cards |  | Total
| (In millions)
Balance at beginning of year | $ | 155 |  |  | $ | 232 |  |  | $ | 48 |  |  | $ | 435 |
Net charged to Net Income | 248 |  |  | 600 |  |  | 210 |  |  | 1,058 |
Currency translation adjustments | — |  |  | (9) |  |  | (1) |  |  | (10) |
Write-offs | (138) |  |  | (209) |  |  | (32) |  |  | (379) |
Balance at end of year | $ | 265 |  |  | $ | 614 |  |  | $ | 225 |  |  | $ | 1,104 |
Schedule of Allowance for Doubtful Accounts | The following table summarizes the allowance for doubtful accounts activity during the years ended December 31, 2024, 2023 and 2022:
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
| (In millions)
Balance at beginning of year | $ | 21 |  |  | $ | 14 |  |  | $ | 8 |
Net charged to Net income | 27 |  |  | 22 |  |  | 9 |
Charges utilized/ Currency translation adjustments/ Write-offs and other adjustments | (33) |  |  | (15) |  |  | (3) |
Balance at end of year | $ | 15 |  |  | $ | 21 |  |  | $ | 14 |
Schedule of Credit Card Receivables and Other Means of Payments, Net |
| December 31,
| 2024 |  | 2023
| (In millions)
Credit card receivables and other means of payments | $ | 5,315 |  |  | $ | 3,653 |
Allowance for chargebacks | (27) |  |  | (17) |
Allowance for doubtful accounts | — |  |  | (4) |
Credit card receivables and other means of payments, net | $ | 5,288 |  |  | $ | 3,632 |
Schedule of Allowance for Doubtful Accounts and Allowance for Chargebacks | The following tables summarize the allowance for chargebacks and the allowance for doubtful accounts activity during the years ended December 31, 2024, 2023 and 2022:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Allowance for chargebacks | (In millions)
Balance at beginning of year | $ | 17 |  |  | $ | 11 |  |  | $ | 14 |
Net charged to Net income | 25 |  |  | 35 |  |  | 13 |
Charges utilized/ Currency translation adjustments/ Write-offs and other adjustments | (15) |  |  | (29) |  |  | (16) |
Balance at end of year | $ | 27 |  |  | $ | 17 |  |  | $ | 11 |
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Allowance for doubtful accounts | (In millions)
Balance at beginning of year | $ | 4 |  |  | $ | — |  |  | $ | 17 |
Net (credited) charged to Net income | (2) |  |  | 4 |  |  | (2) |
Charges utilized/ Currency translation adjustments/ Write-offs and other adjustments | (2) |  |  | — |  |  | (15) |
Balance at end of year | $ | — |  |  | $ | 4 |  |  | $ | — |
Schedule of Current Other Assets |
| December 31,
| 2024 |  | 2023
| (In millions)
VAT credits | $ | 67 |  |  | $ | 25 |
Income tax credits | 75 |  |  | 26 |
Sales tax credits | 8 |  |  | 54 |
Advance to ATM providers | 12 |  |  | 14 |
Advance to suppliers | 40 |  |  | 46 |
Derivative instruments | 38 |  |  | 1 |
Incentives to be collected | 66 |  |  | 35 |
Prepaid expenses | 46 |  |  | 27 |
Other | 51 |  |  | 49 |
Current other assets | $ | 403 |  |  | $ | 277 |
Schedule of Noncurrent Other Assets |
| December 31,
| 2024 |  | 2023
| (In millions)
Judicial deposits | $ | 10 |  |  | $ | 8 |
Sales tax credits | 107 |  |  | 2 |
Derivative instruments | 20 |  |  | 22 |
Other | 45 |  |  | 36 |
Non current other assets | $ | 182 |  |  | $ | 68 |
Schedule of Property and Equipment, Net |
| Estimated useful life (years) |  | December 31,
|  | 2024 |  | 2023
|  |  | (In millions)
Equipment | 3-5 |  | $ | 282 |  |  | $ | 248 |
Land and building | 50 (1) |  | 74 |  |  | 83 |
Furniture and fixtures | 3-10 |  | 992 |  |  | 835 |
Software | 3 |  | 755 |  |  | 694 |
Vehicles | 4 |  | 166 |  |  | 151 |
Work in progress |  |  | 144 |  |  | 62 |
Subtotal |  |  | 2,413 |  |  | 2,073 |
Accumulated depreciation |  |  | (1,033) |  |  | (823) |
Property and equipment, net |  |  | 1,380 |  |  | 1,250 |
(1) Estimated useful life attributable to “building”.
Schedule of Depreciation and Amortization |
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (In millions)
Cost of net revenues | $ | 173 |  |  | $ | 149 |  |  | $ | 101 |
Product and technology development | 271 |  |  | 232 |  |  | 182 |
Sales and marketing | 5 |  |  | 7 |  |  | 5 |
General and administrative | 17 |  |  | 16 |  |  | 21 |
Depreciation | $ | 466 |  |  | $ | 404 |  |  | $ | 309 |
Schedule of Current Other Liabilities |
| December 31,
| 2024 |  | 2023
| (In millions)
Contract liabilities from contracts with customers | $ | 77 |  |  | $ | 51 |
Contingent considerations and escrows from acquisitions | 3 |  |  | 1 |
Customer advances | 29 |  |  | 15 |
Derivative instruments | 17 |  |  | 21 |
Meli Dólar liability | 31 |  |  | — |
Other | 52 |  |  | 31 |
Current other liabilities | $ | 209 |  |  | $ | 119 |
Schedule of Noncurrent Other Liabilities |
| December 31,
| 2024 |  | 2023
| (In millions)
Provisions and contingencies | $ | 135 |  |  | $ | 124 |
Contingent considerations and escrows from acquisitions | 8 |  |  | 8 |
Incentives collected in advance | 9 |  |  | 9 |
Derivative instruments | 14 |  |  | 10 |
Other | 50 |  |  | 49 |
Non current other liabilities | $ | 216 |  |  | $ | 200 |
Schedule of Supplier Finance Program | The rollforward of the Company’s outstanding obligations confirmed as valid under its supplier finance program for the year ended December 31, 2024 is as follows:
| December 31, 2024 |
| (In millions) |
Confirmed obligations outstanding at the beginning of the year | $ | 381 |  |
Invoices confirmed during the year | 2,368 |  |
Confirmed invoices paid during the year | (2,297) |  |
Currency translation | (27) |  |
Confirmed obligations outstanding at the end of the year | $ | 425 |  |

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