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BALANCE SHEET COMPONENTS
 12 Months Ended
Dec. 31, 2024
Balance Sheet Components [Abstract]  
BALANCE SHEET COMPONENTS BALANCE SHEET COMPONENTS
Accounts receivable, net
December 31,
20242023
(In millions)
Accounts receivable$270 $177 
Allowance for doubtful accounts(15)(21)
Accounts receivable, net$255 $156 
The following table summarizes the allowance for doubtful accounts activity during the years ended December 31, 2024, 2023 and 2022:
Year ended December 31,
202420232022
(In millions)
Balance at beginning of year$21 $14 $8 
Net charged to Net income27 22 9 
Charges utilized/ Currency translation adjustments/ Write-offs and other adjustments(33)(15)(3)
Balance at end of year$15 $21 $14 

Credit card receivables and other means of payments, net
December 31,
20242023
(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 
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,
202420232022
Allowance for chargebacks(In millions)
Balance at beginning of year$17 $11 $14 
Net charged to Net income25 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,
202420232022
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 $— 
Other assets
December 31,
20242023
(In millions)
VAT credits$67 $25 
Income tax credits75 26 
Sales tax credits8 54 
Advance to ATM providers12 14 
Advance to suppliers40 46 
Derivative instruments38 1 
Incentives to be collected66 35 
Prepaid expenses46 27 
Other51 49 
Current other assets$403 $277 
December 31,
20242023
(In millions)
Judicial deposits$10 $8 
Sales tax credits107 2 
Derivative instruments20 22 
Other45 36 
Non current other assets$182 $68 
Property and equipment, net
Estimated
useful life
(years)		December 31,
20242023
(In millions)
Equipment
3-5
$282 $248 
Land and building
50 (1)
74 83 
Furniture and fixtures
3-10
992 835 
Software 3755 694 
Vehicles4166 151 
Work in progress144 62 
Subtotal2,413 2,073 
Accumulated depreciation(1,033)(823)
Property and equipment, net1,380 1,250 
(1) Estimated useful life attributable to “building”.

Depreciation
Year Ended December 31,
202420232022
(In millions)
Cost of net revenues$173 $149 $101 
Product and technology development271 232 182 
Sales and marketing 5 7 5 
General and administrative17 16 21 
Depreciation$466 $404 $309 
Other liabilities
December 31,
20242023
(In millions)
Contract liabilities from contracts with customers$77 $51 
Contingent considerations and escrows from acquisitions3 1 
Customer advances29 15 
Derivative instruments17 21 
Meli Dólar liability31 — 
Other52 31 
Current other liabilities$209 $119 
December 31,
20242023
(In millions)
Provisions and contingencies$135 $124 
Contingent considerations and escrows from acquisitions8 8 
Incentives collected in advance9 9 
Derivative instruments14 10 
Other50 49 
Non current other liabilities$216 $200 
Supplier finance programs
The Company and certain financial institutions participate in a supplier finance program (“SFP”) that enables certain of the Company’s suppliers, at their own election, to request the payment of their invoices to the financial institutions earlier than the terms stated in the Company’s payment policies. Suppliers’ voluntary inclusion of invoices in the SFP does not change the Company’s payment terms, the amounts paid or liquidity. The supplier invoices that have been confirmed as valid under the program require payment in full according to the terms established in the Company’s payment policies (a range of 60 and 90 days from the invoicing date). There are no assets pledged as security or other forms of guarantees provided for the committed payment to the financial institution. The Company has no economic interest in a supplier’s decision to participate in the SFP and has no financial impact in connection with the SFP. As of December 31, 2024 and 2023, the obligations outstanding that the Company has confirmed as valid to the financial institutions amounted to $425 million and $381 million, respectively, and are included in the consolidated balance sheets within accounts payable and accrued expenses line.
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 year2,368 
Confirmed invoices paid during the year(2,297)
Currency translation(27)
Confirmed obligations outstanding at the end of the year$425