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LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES | LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES The following tables summarize the Company’s Loans payable and other financial liabilities as of March 31, 2025 and December 31, 2024:
| March 31, 2025 |  | December 31, 2024
| (In millions)
Loans from banks | $ | 1,045 |  |  | $ | 946 |
Bank overdrafts | — |  |  | 26 |
Secured lines of credit | 138 |  |  | 110 |
Financial Bills | 27 |  |  | 7 |
Deposit Certificates | 1,076 |  |  | 1,068 |
Commercial Notes | 6 |  |  | 5 |
Finance lease liabilities | 39 |  |  | 41 |
Collateralized debt | 864 |  |  | 610 |
2026 Sustainability Notes | 364 |  |  | 4 |
2031 Notes | 4 |  |  | 8 |
Other lines of credit | 6 |  |  | 3 |
Current loans payable and other financial liabilities | $ | 3,569 |  |  | $ | 2,828 |
Loans from banks | $ | 361 |  |  | $ | 217 |
Secured lines of credit | 5 |  |  | 6 |
Financial Bills | 455 |  |  | 271 |
Deposit Certificates | 2 |  |  | 2 |
Commercial Notes | 186 |  |  | 170 |
Finance lease liabilities | 76 |  |  | 81 |
Collateralized debt | 1,232 |  |  | 1,232 |
2026 Sustainability Notes | — |  |  | 362 |
2031 Notes | 546 |  |  | 546 |
Other lines of credit | 1 |  |  | — |
Non-Current loans payable and other financial liabilities | $ | 2,864 |  |  | $ | 2,887 |
Type of instrument |  | Currency |  | Interest |  | Weighted Average Interest Rate |  | Maturity |  | March 31, 2025 |  | December 31, 2024
|  |  |  |  |  |  |  |  |  | (In millions)
Loans from banks |  |  |  |  |  |  |  |  |  |  |  |
Chilean Subsidiaries |  | Chilean Pesos |  | Fixed |  | 6.53% |  | April 2025 - June 2026 |  | $ | 187 |  |  | $ | 134 |
Brazilian Subsidiary |  | Brazilian Reais |  | — |  | — |  | — |  | — |  |  | 44 |
Brazilian Subsidiary (1) |  | US Dollar |  | Fixed |  | 5.47% |  | October 2025 - March 2026 |  | 289 |  |  | 211 |
Brazilian Subsidiary (1) |  | Euros |  | Fixed |  | 4.16% |  | September 2025 - November 2026 |  | 201 |  |  | 190 |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | TJLP + 0.80% |  | April 2025 - May 2031 |  | 20 |  |  | 20 |
Mexican Subsidiaries |  | Mexican Pesos |  | Variable |  | TIIE + 1.59% - 3.50% |  | April 2025 - March 2030 |  | 635 |  |  | 512 |
Uruguayan Subsidiary |  | Uruguayan Pesos |  | Fixed |  | 9.28% |  | April - August 2025 |  | 74 |  |  | 52 |
Bank overdrafts |  |  |  |  |  |  |  |  |  |  |  |
Uruguayan Subsidiary |  | Uruguayan Pesos |  | — |  | — |  | — |  | — |  |  | 15 |
Chilean Subsidiary |  | Chilean Pesos |  | — |  | — |  | — |  | — |  |  | 11 |
Secured lines of credit |  |  |  |  |  |  |  |  |  |  |  |
Argentine Subsidiaries |  | Argentine Pesos |  | Fixed |  | 30.15% |  | April 2025 |  | 131 |  |  | 102 |
Mexican Subsidiary |  | Mexican Pesos |  | Fixed |  | 10.91% |  | April 2025 - July 2027 |  | 12 |  |  | 14 |
Financial Bills |  |  |  |  |  |  |  |  |  |  |  |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | CDI + 0.45% - 1.40% |  | April 2025 - March 2028 |  | 482 |  |  | 278 |
Deposit Certificates |  |  |  |  |  |  |  |  |  |  |  |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | CDI + 0.15% - 0.69% |  | April 2025 - January 2026 |  | 376 |  |  | 331 |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | 97.5% to 109.0% of CDI |  | April 2025 - January 2027 |  | 646 |  |  | 703 |
Brazilian Subsidiary |  | Brazilian Reais |  | Fixed |  | 11.46% - 15.22% |  | April - September 2025 |  | 56 |  |  | 36 |
Commercial Notes |  |  |  |  |  |  |  |  |  |  |  |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | DI + 0.88% |  | April 2025 - August 2027 |  | 63 |  |  | 60 |
Brazilian Subsidiary |  | Brazilian Reais |  | Variable |  | IPCA + 6.41% |  | April 2025 - August 2029 |  | 129 |  |  | 115 |
Finance lease liabilities |  |  |  |  |  |  |  |  |  | 115 |  |  | 122 |
Collateralized debt |  |  |  |  |  |  |  |  |  | 2,096 |  |  | 1,842 |
2026 Sustainability Notes |  | US Dollar |  | Fixed |  | 2.375% |  | July 2025 - January 2026 |  | 364 |  |  | 366 |
2031 Notes |  | US Dollar |  | Fixed |  | 3.125% |  | July 2025 - January 2031 |  | 550 |  |  | 554 |
Other lines of credit |  |  |  |  |  |  |  |  |  | 7 |  |  | 3 |
|  |  |  |  |  |  |  |  |  | $ | 6,433 |  |  | $ | 5,715 |
(1) The carrying amount includes the effect of the derivative instruments that qualified for fair value hedge accounting. See Note 15 – Derivative instruments for further detail. See Note 13 – Securitization transactions and Note 14 – Leases to these unaudited interim condensed consolidated financial statements for details regarding the Company’s collateralized debt securitization transactions and finance lease obligations, respectively. 2.375% Sustainability Senior Notes Due 2026 and 3.125% Senior Notes Due 2031 On January 14, 2021, the Company closed a public offering of $400 million aggregate principal amount of the 2026 Sustainability Notes and $700 million aggregate principal amount of the 2031 Notes, and together with the 2026 Sustainability Notes, the “Notes.” During 2024, the Company repurchased $27 million and $81 million in principal amount of the outstanding 2026 Sustainability Notes and 2031 Notes, respectively. The total amount paid during 2024 for those repurchases amounted to $98 million. During the three-month period ended March 31, 2025, the Company did not make repurchases of the 2026 Sustainability Notes or the 2031 Notes. Certain of the Company’s subsidiaries (the “Subsidiary Guarantors”) fully and unconditionally guarantee the payment of principal, premium, if any, interest, and all other amounts in respect of each of the Notes (the “Subsidiary Guarantees”). The initial Subsidiary Guarantors were MercadoLibre S.R.L., Ibazar.com Atividades de Internet Ltda., eBazar.com.br Ltda., Mercado Envios Servicos de Logistica Ltda., Mercado Pago Instituição de Pagamento Ltda. (formerly known as “MercadoPago.com Representações Ltda.”), MercadoLibre Chile Ltda., MercadoLibre, S.A. de C.V., Institución de Fondos de Pago Electrónico (formerly known as “MercadoLibre, S. de R.L. de C.V.”), DeRemate.com de México, S. de R.L. de C.V. and MercadoLibre Colombia Ltda. On October 27, 2021, MercadoLibre, S.A. de C.V., Institución de Fondos de Pago Electrónico became an excluded subsidiary pursuant to the terms of the Notes and it was released from its Subsidiary Guaranty. On October 27, 2021, MP Agregador, S. de R.L. de C.V. became a Subsidiary Guarantor under the Notes. On July 1 and October 1, 2022, Ibazar.com Atividades de Internet Ltda. and Mercado Envios Servicos de Logistica Ltda. were merged into eBazar.com.br Ltda, respectively. On May 2, 2025, as a result of the spin-off of DeRemate.com de México, S. de R.L. de C.V. completed in January 2025 (the “DeRemate Spinoff”), MPFS, S. de R.L. de C.V. became a Subsidiary Guarantor under the Notes. For additional information regarding the 2026 Sustainability Notes and the 2031 Notes please refer to Note 18 to the audited consolidated financial statements for the year ended December 31, 2024, contained in the Company’s 2024 10-K. Amended and Restated Revolving Credit Agreement On September 27, 2024, the Company entered into a $400 million amended and restated revolving credit agreement (the “Amended and Restated Credit Agreement”) with the lenders party thereto and the Company’s subsidiaries MercadoLibre S.R.L., Ebazar.com.br Ltda., Mercado Pago Instituição de Pagamento Ltda., DeRemate.com de Mexico S. de R.L. de C.V., MP Agregador, S. de R.L. de C.V., MercadoLibre Chile Ltda., and MercadoLibre Colombia Ltda. as initial guarantors. As a result of the DeRemate Spinoff, MPFS, S. de R.L. de C.V. will become a guarantor under the Amended and Restated Credit Agreement in accordance with its terms. The Company’s obligations under the Amended and Restated Credit Agreement are guaranteed by the guarantors, as stated before. The interest rates under the Amended and Restated Credit Agreement are based on Term SOFR (“Secured Overnight Funding Rate”) plus an interest margin of 1.00% per annum, which may be decreased to 0.90% per annum or increased to 1.15% per annum depending on the Company’s debt rating, as further provided under the Amended and Restated Credit Agreement. Any loans drawn from the Amended and Restated Credit Agreement must be repaid on or prior to September 27, 2028, which will be automatically extended to September 27, 2029 upon satisfaction, on or prior to August 28, 2027, of the Maturity Extension Conditions (as defined in the Amended and Restated Credit Agreement), as further provided in the Amended and Restated Credit Agreement. The Company is also obligated to pay a commitment fee on the unused amounts of the facility at a rate per annum equal to 25% of the then Applicable Margin, depending on the Company’s debt rating, as further provided under the Amended and Restated Credit Agreement. As of March 31, 2025, no amounts have been borrowed under the facility.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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