Property, Plant and Equipment

12 Months Ended

Dec. 31, 2021

Disclosure Of Property Plant And Equipment [Line Items]

18.

Property, Plant and Equipment

Property, Plant and Equipment of the Group correspond to computer equipment that is stated at cost less accumulated depreciation.


	2021												2020
	Computer Equipment			Building improvements			Work in Progress			Total			Computer Equipment
Cost		645			—			486			1,131			255
Accumulated depreciation		(218	)		—			—			(218	)		(63	)
Opening book value, January 1		427			—			486			913			192
Additions		1,178			—			771			1,949			876
Transfers		—			1,257			(1,257	)		—			—
Depreciation of the year		(335	)		(42	)		—			(377	)		(155	)
Total as at December 31		1,270			1,215			—			2,485			913
Cost		1,823			1,257			—			3,080			1,131
Accumulated depreciation		(553	)		(42	)		—			(595	)		(218	)

Work in progress comprises costs related to design and offices construction costs, such as professional fees of architects and construction suppliers as well as costs of building materials, related to a new lease with a commencement date on September 1, 2021. Such costs were not contingent on obtaining the lease, did not influence the lease contract negotiation and therefore did not qualify as initial direct cost to be included in the right-of-use asset initial measurement. Accordingly, these costs were recognized as “Work in progress” and were transferred to Property, plant and equipment line item called “Building improvements”. These assets are amortized using the straight-line method, over the shorter of the estimated useful life of the asset or the remaining term of the lease.

The Group did not recognize losses from impairment of Property, Plant and Equipment during 2021 and 2020, nor reversed any impairment losses. Moreover, dLocal did not have any commitments to purchase any property, plant and equipment at year end.

For further details on accounting policies refer to Note 2.7: Property, plant and equipment.