Date: 11/2/2023
Form: 10-Q - Quarterly Report
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- Definition Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of excess of issue price over par or stated value of stock and from other transaction involving stock or stockholder. Includes, but is not limited to, additional paid-in capital (APIC) for common and preferred stock. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Carrying value as of the balance sheet date of portion of long-term loans payable due within one year or the operating cycle if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Carrying value as of the balance sheet date of loans payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amortized cost, after allowance for credit loss, of financing receivable classified as current. Excludes net investment in lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of lessee's right to use underlying asset under operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, after accumulated depreciation and amortization, of property, plant, and equipment and finance lease right-of-use asset. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount due from customers for fees and charges arising from transactions related to the entity's brokerage activities and operations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of accumulated undistributed earnings (deficit). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount allocated to previously issued common shares repurchased by the issuing entity and held in treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Interim Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Loans receivable allowance, current | $ 989 | $ 1,074 |
| Loans receivable allowance, noncurrent | $ 35 | $ 30 |
| Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
| Common stock, shares authorized (in shares) | 110,000,000 | 110,000,000 |
| Common stock, shares issued (in shares) | 50,496,474 | 50,257,751 |
| Common stock, shares outstanding (in shares) | 50,496,474 | 50,257,751 |
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- Definition Amount of allowance for credit loss on financing receivable, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Face amount or stated value per share of common stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Interest expense and other financial charges. No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount, before tax, of realized and unrealized gain (loss) from foreign currency transaction. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense (reversal of expense) for expected credit loss on accounts receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Interim Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| Statement of Comprehensive Income [Abstract] | ||||
| Net income | $ 359 | $ 129 | $ 822 | $ 317 |
| Other comprehensive income: | ||||
| Currency translation adjustment | (76) | (38) | 99 | 0 |
| Unrealized (losses) gains on hedging activities | 2 | (9) | (8) | (33) |
| Tax benefit (expenses) on unrealized (losses) gains on hedging activities | 1 | (3) | (2) | (8) |
| Less: Reclassification adjustment for losses on hedging activities included in cost of net revenues, interest expense and foreign currency losses | (6) | (9) | (8) | (18) |
| Less: Reclassification adjustment for estimated tax benefit on unrealized gains | 2 | 3 | 3 | 5 |
| Net change in accumulated other comprehensive income, net of income tax | (71) | (38) | 98 | (12) |
| Total comprehensive income | $ 288 | $ 91 | $ 920 | $ 305 |
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- Definition Other Comprehensive Income (Loss), Reclassification Adjustment From AOCI For Losses (Gains) Included In Net Income, After Tax No definition available.
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- Definition Other Comprehensive Income (Loss), Reclassification Adjustment From AOCI, Net Of Tax, Losses (Gains) Included In Income Tax Expense No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before tax and reclassification, of gain (loss) from derivative instrument designated and qualifying cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before reclassification, of tax expense (benefit) for gain (loss) from derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount after tax of other comprehensive income (loss) attributable to parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Adjustments to Additional Paid in Capital, Repurchase of Convertible Debt No definition available.
|
| X | ||||||||||
- Definition Unwind Capped Call Transaction Cost No definition available.
|
| X | ||||||||||
- Definition Amount of increase to additional paid-in capital (APIC) for recognition of cost for restricted stock unit under share-based payment arrangement. No definition available.
|
| X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount after tax of other comprehensive income (loss) attributable to parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Interim Condensed Consolidated Statements of Equity (Parenthetical) |
Sep. 30, 2023
shares
|
|---|---|
| Statement of Stockholders' Equity [Abstract] | |
| Treasury stock, shares (in shares) | 425,913 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Number of previously issued common shares repurchased by the issuing entity and held in treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Interim Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions |
9 Months Ended | |
|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| Cash flows from operations: | ||
| Net income | $ 822 | $ 317 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Equity in earnings of unconsolidated entity | (3) | 1 |
| Unrealized foreign currency losses, net | 498 | 265 |
| Impairment of digital assets | 0 | 11 |
| Depreciation and amortization | 389 | 281 |
| Accrued interest income | (232) | (111) |
| Non cash interest expense and amortization of debt issuance costs and other charges | 79 | 132 |
| Provision for doubtful accounts | 751 | 845 |
| Results on derivative instruments | 26 | 28 |
| Stock-based compensation expense — restricted shares | 0 | 1 |
| Long term retention program (“LTRP”) accrued compensation | 122 | 59 |
| Deferred income taxes | (84) | (96) |
| Changes in assets and liabilities: | ||
| Accounts receivable | (46) | (27) |
| Credit card receivables and other means of payments | (361) | (768) |
| Prepaid expenses | (3) | (22) |
| Inventories | (85) | 102 |
| Other assets | (89) | (60) |
| Payables and accrued expenses | 605 | 150 |
| Funds payable to customers | 440 | 216 |
| Amounts payable due to credit and debit card transactions | 255 | 77 |
| Other liabilities | (85) | (87) |
| Interest received from investments | 213 | 84 |
| Net cash provided by operating activities | 3,212 | 1,398 |
| Cash flows from investing activities: | ||
| Purchases of investments | (15,540) | (9,266) |
| Proceeds from sale and maturity of investments | 14,847 | 7,861 |
| Payments from settlements of derivative instruments | (49) | (7) |
| Purchases of intangibles assets | 0 | (1) |
| Changes in loans receivable, net | (1,465) | (1,470) |
| Investments of property and equipment | (329) | (342) |
| Net cash used in investing activities | (2,536) | (3,225) |
| Cash flows from financing activities: | ||
| Proceeds from loans payable and other financial liabilities | 19,390 | 12,478 |
| Payments on loans payable and other financing liabilities | (19,353) | (11,421) |
| Payments of finance lease obligations | (21) | (14) |
| Common Stock repurchased | (356) | (115) |
| Net cash (used in) provided by financing activities | (340) | 928 |
| Effect of exchange rate changes on cash, cash equivalents, restricted cash and cash equivalents | (443) | (221) |
| Net decrease in cash, cash equivalents, restricted cash and cash equivalents | (107) | (1,120) |
| Cash, cash equivalents, restricted cash and cash equivalents, beginning of the period | 3,363 | 3,648 |
| Cash, cash equivalents, restricted cash and cash equivalents, end of the period | $ 3,256 | $ 2,528 |
| X | ||||||||||
- Definition Accrued interest from investments. No definition available.
|
| X | ||||||||||
- Definition Convertible bonds accrued interest and amortization of debt discount. No definition available.
|
| X | ||||||||||
- Definition Equity In Earnings Of Unconsolidated Entity, Net Of Tax No definition available.
|
| X | ||||||||||
- Definition Increase Decrease In Amounts Payable Due To Credit And Debit Card Transactions No definition available.
|
| X | ||||||||||
- Definition Funds payable relate also to the company's payments solution and means amounts due to sellers held by the company until the transaction is completed. No definition available.
|
| X | ||||||||||
- Definition Funds receivable relate to the company's payments solution and arise due to the time taken to clear transactions through external payment networks. When customers fund their account using their bank account or credit card, there is a period before the cash is received by the company. Hence, these funds are treated as a receivable until the cash is settled. These funds are presented net of the related allowance for charge backs. No definition available.
|
| X | ||||||||||
- Definition Increase Decrease In Principal Loans Receivable Net No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) and income tax credits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of increase (decrease) from effect of exchange rate changes on cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; held in foreign currencies. Excludes amounts for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of cash outflow for principal payment on finance lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount before tax of foreign currency transaction realized and unrealized loss recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of impairment loss resulting from write-down of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit to fair value. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The increase (decrease) during the period in the net carrying value of derivative instruments reported as assets and liabilities that are due to be disposed of within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of increase (decrease) in operating assets classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of increase (decrease) in operating liabilities classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The cash outflow for derivative instruments during the period, which are classified as investing activities, excluding those designated as hedging instruments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The cash outflow to reacquire common stock during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The cash outflow associated with the purchase of all investments (debt, security, other) during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash inflow from issuance of long-term debt classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash inflow from operating activities classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash inflow associated with the sale, maturity and collection of all investments such as debt, security and so forth during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of expense (reversal of expense) for expected credit loss on accounts receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash outflow for the payment of debt classified as other, maturing after one year or the operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of noncash expense for award of restricted stock or unit under share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of noncash expense for option under share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Nature of Business |
9 Months Ended |
|---|---|
Sep. 30, 2023 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Nature of Business | Nature of Business MercadoLibre, Inc. (“MercadoLibre” or the “Company”) was incorporated in the state of Delaware, in the United States of America, in October 1999. MercadoLibre is the largest online commerce ecosystem in Latin America, serving as an integrated regional platform and as a provider of necessary digital and technology tools that allow businesses and individuals to trade products and services in the region. The Company enables commerce through its marketplace platform, which allows users to buy and sell in most of Latin America. Through Mercado Pago, the fintech solution, MercadoLibre enables individuals and businesses to send and receive digital payments; through Mercado Envios, MercadoLibre facilitates the shipping of goods from the Company and sellers to buyers; through the advertising products, MercadoLibre facilitates advertising services for large retailers and brands to promote their products and services on the web; through Mercado Shops, MercadoLibre allows users to set-up, manage, and promote their own on-line web-stores under a subscription-based business model; through Mercado Credito, MercadoLibre extends loans to certain merchants and consumers; and through Mercado Fondo, MercadoLibre allows users to invest funds deposited in their Mercado Pago accounts. As of September 30, 2023, MercadoLibre, through its wholly-owned subsidiaries, operated online e-commerce platforms directed towards Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Peru, Mexico, Panama, Honduras, Nicaragua, El Salvador, Uruguay, Bolivia, Guatemala, Paraguay and Venezuela. Additionally, MercadoLibre operates its fintech solution in Argentina, Brazil, Mexico, Colombia, Chile, Peru, Uruguay and Ecuador, and extends loans through Mercado Credito in Argentina, Brazil, Mexico and Chile. It also offers a shipping solution directed towards Argentina, Brazil, Mexico, Colombia, Chile, Uruguay, Peru and Ecuador.
|
| X | ||||||||||
- Definition The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
|
Summary of significant accounting policies |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of significant accounting policies | Summary of significant accounting policies Basis of presentation The accompanying unaudited interim condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of the Company, its wholly-owned subsidiaries and consolidated Variable Interest Entities (“VIE”). Investments in entities where the Company holds joint control, but not control, over the investee are accounted for using the equity method of accounting. These unaudited interim condensed consolidated financial statements are stated in U.S. dollars, except where otherwise indicated. Intercompany transactions and balances with subsidiaries have been eliminated for consolidation purposes. Substantially all net revenues, cost of net revenues and operating expenses are generated in the Company’s foreign operations. Long-lived assets, intangible assets and goodwill and operating lease right-of-use assets located in the foreign jurisdictions totaled $2,046 million and $1,817 million as of September 30, 2023 and December 31, 2022, respectively. These unaudited interim condensed consolidated financial statements reflect the Company’s consolidated financial position as of September 30, 2023 and December 31, 2022. These unaudited interim condensed consolidated financial statements include the Company’s consolidated statements of income, comprehensive income and equity for the nine and three-month periods ended September 30, 2023 and 2022 and statements of cash flows for the nine-month periods ended September 30, 2023 and 2022. These unaudited interim condensed consolidated financial statements include all normal recurring adjustments that Management believes are necessary to fairly state the Company’s financial position, operating results and cash flows. Because all of the disclosures required by U.S. GAAP for annual consolidated financial statements are not included herein, these unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto for the year ended December 31, 2022, contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission (“SEC”) (the “Company’s 2022 10-K”). The Company has evaluated all subsequent events through the date these unaudited interim condensed consolidated financial statements were issued. The unaudited interim condensed consolidated statements of income, comprehensive income, equity and cash flows for the periods presented herein are not necessarily indicative of results expected for any future period. For a more detailed discussion of the Company’s significant accounting policies, see Note 2 to the financial statements in the Company’s 2022 10-K. During the nine-month period ended September 30, 2023, there were no material updates made to the Company’s significant accounting policies. Use of estimates The preparation of these unaudited interim condensed consolidated financial statements in conformity with U.S. GAAP requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used for, but not limited to, accounting for allowance for doubtful accounts and chargeback provisions, inventories valuation reserves, recoverability of goodwill, intangible assets with indefinite useful lives and deferred tax assets, impairment of short-term and long-term investments, impairment of long-lived assets, separation of lease and non lease components for aircraft leases, compensation costs relating to the Company’s long term retention program, fair value of convertible debt, fair value of investments, fair value of loans receivable, fair value of derivative instruments, income taxes and contingencies and determination of the incremental borrowing rate at commencement date of lease operating agreements. Actual results could differ from those estimates. Revenue recognition Revenue recognition criteria for the services provided and goods sold by the Company are described in Note 2 to the consolidated financial statements in the Company’s 2022 10-K. The aggregate gain included in “Fintech services” revenues arising from financing transactions and sales of financial assets, net of the costs recognized on sale of credit card receivables, is $1,055 million and $379 million for the nine and three-month periods ended September 30, 2023 and $751 million and $261 million for the nine and three-month periods ended September 30, 2022, respectively. Contract balances Timing of revenue recognition may differ from the timing of invoicing to customers. Receivables represent amounts invoiced and revenue recognized prior to invoicing when the Company has satisfied the performance obligation and has the unconditional right to payment. Accounts receivable and credit card receivables and other means of payments are presented net of allowance for doubtful accounts and chargebacks of $35 million and $25 million as of September 30, 2023 and December 31, 2022, respectively. See Note 6 of these unaudited interim condensed consolidated financial statements for information related to the allowance for doubtful accounts with respect to the Company’s loans receivable. Deferred revenue consists of fees received related to unsatisfied performance obligations at the end of the period in accordance with Accounting Standards Codification (“ASC”) 606. Due to the generally short-term duration of contracts, the majority of the performance obligations are satisfied in the following months. Deferred revenue as of December 31, 2022 was $44 million, of which $29 million was recognized as revenue during the nine-month period ended September 30, 2023. As of September 30, 2023, total deferred revenue was $34 million, mainly due to fees related to classifieds advertising services billed and loyalty programs that are expected to be recognized as revenue in the coming months. Foreign currency translation All of the Company’s foreign operations have determined the local currency to be their functional currency, except for Argentina, which has used the U.S. dollar as its functional currency since July 1, 2018. Accordingly, the foreign subsidiaries with local currency as functional currency translate assets and liabilities from their local currencies into U.S. dollars by using period-end exchange rates while income and expense accounts are translated at the average monthly rates in effect during the period, unless exchange rates fluctuate significantly during the period, in which case the exchange rates at the date of the transaction are used. The resulting translation adjustment is recorded as a component of other comprehensive income. Net foreign currency transaction results are included in the unaudited interim condensed consolidated statements of income under the caption “Foreign currency losses, net”. Argentine currency status As of July 1, 2018, the Company transitioned its Argentine operations to highly inflationary status in accordance with U.S. GAAP, and changed the functional currency for Argentine subsidiaries from Argentine Pesos to U.S. dollars, which is the functional currency of their immediate parent company. Argentina’s inflation rate for the nine-month periods ended September 30, 2023 and 2022 was 103.2% and 66.1%, respectively. The Company uses Argentina’s official exchange rate to account for transactions in the Argentine segment, which as of September 30, 2023 and December 31, 2022 was 349.95 and 177.16 Argentine Pesos, respectively, against the U.S. dollar. On August 14, 2023, Argentina’s local currency depreciated 22% against the U.S. dollar. reaching the official exchange rate of 349.95 Argentine Pesos. For the nine-month periods ended September 30, 2023 and 2022, Argentina’s depreciation of its local currency against the U.S. dollar was 97.5% and 43.4%, respectively. The following table sets forth the assets, liabilities and net assets of the Company’s Argentine subsidiaries and consolidated VIEs, before intercompany eliminations, as of September 30, 2023 and December 31, 2022:
The following table provides information relating to net revenues and direct contribution (see Note 8 of these unaudited interim condensed consolidated financial statements for definition of direct contribution) for the nine and three-month periods ended September 30, 2023 and 2022 of the Company’s Argentine subsidiaries and consolidated VIEs:
Argentine exchange regulations Since the second half of 2019, the Argentine government instituted exchange controls restricting the ability of companies and individuals to exchange Argentine Pesos for foreign currencies and their ability to remit foreign currency out of Argentina. An entity’s authorization request to the Central Bank of Argentina (“CBA”) to access the official exchange market to make foreign currency payments may be denied depending on the circumstances. As a result of these exchange controls, markets in Argentina developed trading mechanisms, in which an entity or individual buys U.S. dollar denominated securities in Argentina (i.e. shares, sovereign debt) using Argentine Pesos, and subsequently sells the securities for U.S. dollars, in Argentina, to access U.S. dollars locally, or outside Argentina, by transferring the securities abroad, prior to being sold (the latter commonly known as “Blue Chip Swap Rate”). The Blue Chip Swap Rate has diverged significantly from Argentina’s official exchange rate (commonly known as exchange spread). In recent years, the Blue Chip Swap Rate has been higher than Argentina’s official exchange rate. As of September 30, 2023 and December 31, 2022, the spread of the Blue Chip Swap was 135.0% and 94.2%, respectively (see Note 16 of these unaudited interim condensed consolidated financial statements). As part of the exchange controls, since 2019, the Argentine government imposes a tax on the acquisition of foreign currency through the official exchange market in certain circumstances. On July 24, 2023, through the Executive Power Decree No. 377/2023, the Argentine government extended the application of this tax to the following cases: (i) certain services acquired from abroad or services rendered by foreign residents in Argentina (i.e. technical, legal, accounting, management, advertising, engineering, audiovisual services, among others), which will be subject to a 25% tax rate, (ii) freight and other transportation services for import and export of goods, which will be subject to a 7.5% tax rate; and (iii) imported goods, which will be subject to a 7.5% tax rate, with certain exemptions (such as fuels and products of the basic food basket). Income taxes Income taxes’ accounting policy is described in Note 2 to the consolidated financial statements in the Company’s 2022 10-K. The Company’s consolidated estimated effective tax rate for the nine-month period ended September 30, 2023 increased as compared to the same period in 2022. This was a result of (i) taxable foreign exchange gains accounted for local tax purposes that are not recorded for accounting purposes since, under U.S. GAAP, Argentina’s operations’ functional currency is the U.S. dollar due to the highly inflationary status of the country, (ii) a higher proportion of pre-tax results arising from entities under general income tax treatment regime over the Brazilian segment as compared to the same period in 2022 and (iii) higher non-deductible foreign exchange losses related to the acquisition of our own common stock in the Argentine market. This increase was partially offset by the reversal of the valuation allowances in one of the Company’s Mexican subsidiaries during the third quarter of 2023. The Company’s consolidated estimated effective tax rate for the three-month period ended September 30, 2023 decreased as compared to the same period in 2022, mainly as a result of the reversal of the valuation allowances in one of its Mexican subsidiaries during the third quarter of 2023. This decrease was partially offset by taxable foreign exchange gains accounted for local tax purposes, which are not recorded for accounting purposes given that under U.S. GAAP and due to Argentina’s highly inflationary status, Argentina’s operations’ functional currency is the U.S. dollar. A valuation allowance is recorded when, based on the available evidence, it is more likely than not that all or a portion of the Company’s deferred tax assets will not be realized. In accordance with ASC 740, Management periodically assesses the need to either establish or reverse a valuation allowance for deferred tax assets considering positive and negative objective evidence related to the realization of the deferred tax assets. In its assessment, Management considers, among other factors, the nature, frequency and magnitude of current and cumulative losses on an individual subsidiary basis, projections of future taxable income, the duration of statutory carryforward periods, as well as feasible tax planning strategies, which would be employed by the Company to prevent tax loss carryforwards from expiring unutilized. As of September 30, 2023, the Company’s Management concluded that an amount of $141 million of valuation allowance should be reversed at that date given that is more likely than not that deferred tax assets from DeRemate.com de México, S. de R.L. de C.V., a Mexican subsidiary, will be realized in the foreseeable future. The change in judgment regarding the realizability of the deferred tax assets of the Mexican subsidiary was triggered during the three-month period ended September 30, 2023, as positive trends observed in recent periods became enough evidence to support the conclusion. Knowledge-based economy promotional regime in Argentina In August 2021, the Under Secretariat of Knowledge Economy issued the Disposition 316/2021 approving MercadoLibre S.R.L.’s application for eligibility under the knowledge-based economy promotional regime, established by the Law No. 27,506 and complemented by Argentina’s Executive Power Decree No. 1034/2020, Argentina’s Ministry of Productive Development’s Resolution No. 4/2021 and the Under Secretariat of Knowledge Economy’s Disposition No. 11/2021. As a result, the Company recorded an income tax benefit of $35 million and $14 million, and $19 million and $15 million during the nine and three-month periods ended September 30, 2023 and 2022, respectively. The aggregate per share effect of the income tax benefit amounted to $0.69 and $0.27, and $0.38 and $0.30 for the nine and three-month periods ended September 30, 2023 and 2022, respectively. Furthermore, the Company recorded a social security benefit of $49 million and $16 million, and $39 million and $13 million during the nine and three-month periods ended September 30, 2023 and 2022, respectively. Fair value option applied to certain financial instruments Under ASC 825, U.S. GAAP provides an option to elect fair value with impact on the statement of income as an alternative measurement for certain financial instruments and other items on the balance sheet. The Company has elected to measure certain financial assets at fair value with impact on the statement of income for several reasons including to avoid the mismatch generated by the recognition of certain linked instruments / transactions, separately, in the unaudited interim condensed consolidated statement of income and unaudited interim condensed consolidated statement of comprehensive income and to better reflect the financial model applied for selected instruments. The Company’s election of the fair value option applies to the: i) Brazilian federal government bonds and ii) U.S. treasury notes. Recently Adopted Accounting Standards On October 28, 2021, the FASB issued the Accounting Standards Update (“ASU”) 2021-08 “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”. The amendments in this update improve comparability for the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination by specifying for all acquired revenue contracts regardless of their timing of payment (1) the circumstances in which the acquirer should recognize contract assets and contract liabilities that are acquired in a business combination and (2) how to measure those contract assets and contract liabilities. The amendments provide consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The Company adopted this standard effective as of January 1, 2023 and it did not have a material impact on the Company’s financial statements. On March 31, 2022, the FASB issued the ASU 2022-02 “Troubled Debt Restructurings (“TDRs”) and Vintage Disclosures (Topic 326): Financial Instruments – Credit Losses”, which eliminates the accounting guidance on TDRs, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, the guidance requires disclosure of current-period gross write-offs by year of origination for financing receivables and net investment in leases. The amendments should be applied prospectively, except for the transition method related to the recognition and measurement of TDRs, where an entity has the option to apply a modified retrospective transition method, resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. The Company adopted this standard effective as of January 1, 2023 and it did not have a material impact on the Company’s financial statements. On September 29, 2022, the FASB issued the ASU 2022-04 “Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations”. The amendments in this update require entities that use supplier finance programs in connection with the purchase of goods and services to disclose the key terms of the programs and information about their obligations outstanding at the end of the reporting period, including a rollforward of those obligations. The guidance does not affect the recognition, measurement or financial statement presentation of supplier finance program obligations. The Company adopted this standard effective as of January 1, 2023, except for the rollforward requirement, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. The guidance should be applied retrospectively to all periods in which a balance sheet is presented, except for the rollforward requirement, which should be applied prospectively. 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 policy. Suppliers’ voluntary inclusion of invoices in the SFP does not change the Company’s payment terms, the amounts paid or liquidity. 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 September 30, 2023 and December 31, 2022, the obligations outstanding that the Company has confirmed as valid to the financial institutions amounted to $302 million and $227 million, respectively, and are included in the unaudited interim condensed consolidated balance sheets within accounts payable and accrued expenses line. Recently issued accounting pronouncements not yet adopted As of the date of issuance of these unaudited interim condensed consolidated financial statements there were no accounting pronouncements issued not yet adopted expected to have a material impact on the Company’s financial statements.
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- References No definition available.
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- Definition The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Fintech Regulations |
9 Months Ended |
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Sep. 30, 2023 | |
| Fintech Regulations [Abstract] | |
| Fintech Regulations | Fintech Regulations Regulations issued by the Central Banks and other regulators of the countries where the Company operates applicable to its Fintech business are described in Note 3 to the consolidated financial statements in the Company’s 2022 10-K. Argentina On September 1, 2022, the CBA issued Communication “A” 7593, which extended the application of regulations for the protection of financial services users to the payment service providers who offer payment accounts (“PSPOCP” according to its Spanish acronym), such as MercadoLibre S.R.L. The regulations were already applicable to non-financial credit providers. This communication came into effect on March 1, 2023. On February 15, 2023, the CBA issued Communication “A” 7699, which establishes that PSPOCP must submit the Information Regime on Claims, with the first submission deadline being April 24, 2023, and the Information Regime on Transparency, Chapter II, with first submission deadline for monthly information being March 14, 2023. On August 24, 2023, the CBA issued Communication “A” 7825, which states that PSPOCPs must allocate in full to their clients any compensation received from financial institutions for investing clients’ funds held in deposit accounts into Argentine treasury bonds. Since August 25, 2023, MercadoLibre S.R.L. is not receiving any compensation from financial institutions for clients’ funds held in deposit account. As a consequence, Communication “A” 7825 has no applicable effect for MercadoLibre S.R.L. On September 14, 2023, the CBA issued Communication “A” 7861, establishing that starting on December 1, 2023, DEBIN (debit immediate), the main funding source of Mercado Pago users’ accounts, will be suspended and replaced with a pull transfer method that requires the consent of the client outside of Mercado Pago’s environment before the first use. Management is currently assessing the situation since this suspension and replacement may lead to pertinent changes to the way that Mercado Pago users are able to link and transfer funds to their digital accounts from their respective bank accounts or other digital accounts. Brazil The new prudential rules announced by the Central Bank during March 2022 were effective starting in July 2023, with full implementation by January 2025. The new rules require a gradual increase in regulatory capital requirement for the Company’s regulated Brazilian subsidiaries until 2025: 6.75% from July 2023, 8.75% from January 2024 and 10.50% from January 2025. Colombia On June 28, 2023, MercadoPago S.A. Compañía de Financiamiento obtained a license to operate as a financial institution in Colombia which enables it to offer financial deposits (digital accounts). The minimum capital requirement has been paid-in. This subsidiary is expected to be operational by the first quarter of 2024. Uruguay On July 11, 2023, the Central Bank of Uruguay approved MercadoPago Uruguay S.R.L. to start operations as an Electronic Money Issuing Institution (“IEDE” according to its Spanish acronym). On October 1, 2023, MercadoPago Uruguay S.R.L. started operations. Under applicable regulations, MercadoPago Uruguay S.R.L. must deposit and maintain users’ funds in specific local bank accounts in order to ensure availability of existing balances in each user’s digital account. Chile On April 27, 2023, the Commission for the Financial Market (“CMF” according to its Spanish acronym) authorized the merger of Mercado Pago Operadora S.A. (formerly known as “Mercado Pago S.A.”) and Red Procesadora de Pagos Limitada, effective on May 1, 2023. This merger allows Mercado Pago Operadora S.A. to extend the processing of transactions and enable businesses and entrepreneurs in Chile the opportunity to access the Company’s ecosystem of Fintech services.
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- Definition Fintech Regulations [Abstract] No definition available.
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- Definition Fintech Regulations Disclosure [Text Block] No definition available.
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Net income per share |
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net income per share | Net income per share Basic earnings per share for the Company’s common stock is computed by dividing, net income for the period by the weighted average number of common shares outstanding during the period. In August, 2018, the Company issued an aggregate principal amount of $880 million of 2.00% Convertible Senior Notes due 2028 (“2028 Notes”). The conversion of these notes is included in the calculation for diluted earnings per share utilizing the “if converted” method. Accordingly, conversion of these Notes is not assumed for purposes of computing diluted earnings per share if the effect is antidilutive. The denominator for diluted net income per share for the nine and three-month periods ended September 30, 2022 did not include any effect from the capped call transactions entered into by the Company with certain financial institutions with respect to shares of the Company’s common stock (“2028 Notes Capped Call Transactions”), which were settled on September 1, 2023, because it would be antidilutive. See Note 12 to these unaudited interim condensed consolidated financial statements and Note 17 to the financial statements for the year ended December 31, 2022, contained in the Company’s 2022 10-K for more details regarding the 2028 Notes and the 2028 Notes Capped Call Transactions. Net income per share of common stock is as follows for the nine and three-month periods ended September 30, 2023 and 2022:
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- References No definition available.
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- Definition The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Cash, cash equivalents, restricted cash and cash equivalents and investments |
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| Cash and Cash Equivalents [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash, cash equivalents, restricted cash and cash equivalents and investments | Cash, cash equivalents, restricted cash and cash equivalents and investments The composition of cash, cash equivalents, restricted cash and cash equivalents, short-term and long-term investments is as follows:
(1)Regulations issued by the Central Banks and other regulators of the countries where the Company operates applicable to its Fintech business are described in Note 3 to the consolidated financial statements in the Company’s 2022 10-K. Recently issued regulations are described in Note 3 of these unaudited interim condensed consolidated financial statements. (2)Investments from securitization transactions are restricted to the payment of amounts due to third-party investors. (3)Cash, cash equivalents, restricted cash and cash equivalents as reported in the consolidated statement of cash flows. (4)As of September 30, 2023, this includes $6 million that guarantee a line of credit and are considered restricted. (5)On September 11, 2023, the Brazilian subsidiary Mercado Crédito Sociedade de Crédito, Financiamento e Investimento S.A. received $15 million of capital contribution from its shareholders, which is in the process of legal registration by the Central Bank of Brazil. As a result, $15 million of long-term investments are considered restricted as of September 30, 2023.
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- References No definition available.
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- Definition The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Loans receivable, net |
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Sep. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans receivable, net | Loans receivable, net The Company classifies loans receivable as “On-line merchant”, “Consumer”, “In-store merchant” and “Credit cards”. As of September 30, 2023 and December 31, 2022, the components of Loans receivable, net were as follows:
The allowance for doubtful accounts with respect to the Company’s loans receivable amounts to $1,038 million and $1,112 million as of September 30, 2023 and December 31, 2022, respectively, which includes $14 million and $8 million related to unused agreed loan commitment on credit cards portfolio presented in Other liabilities of the unaudited interim condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023, the Company is exposed to off-balance sheet unused agreed loan commitments on its credit cards portfolio, which exposes the Company to credit risks. For the nine and three-month periods ended September 30, 2023, the Company recognized in Provision for doubtful accounts of $5 million and $2 million as expected credit losses, respectively. The Company closely monitors credit quality for all loans receivable on a recurring basis to assess and manage its exposure to credit risk. To assess merchants and consumers seeking a loan under the Mercado Credito solution, the Company uses, among other indicators, risk models internally developed, as a credit quality indicator to help predict the merchant’s and consumer’s ability to repay the principal balance and interest related to the credit. The risk model uses multiple variables as predictors of the merchant’s and consumer’s ability to repay the credit, including external and internal indicators. Internal indicators consider user behavior related to credit/payment history, and with lower weight in the risk models, the Company uses the number of transactions in the Company’s ecosystem and the merchant’s annual sales volume, among other indicators. In addition, the Company considers external bureau information to enhance the model and the decision making process. The amortized cost of the loans receivable classified by the Company’s credit quality internal indicator was as follows:
The following tables summarize the allowance for doubtful accounts activity during the nine-month periods ended September 30, 2023 and 2022:
(*) The Company writes off loans when customer balance becomes 360 days past due. The increase in write-offs for the nine-month period ended September 30, 2023, compared to the same period in 2022, is mainly generated by higher originations of loans receivable for the nine-month period ended September 30, 2022, compared to the same period in 2021, generating a higher write-offs effect in the period ended September 30, 2023.
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| X | ||||||||||
- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- References No definition available.
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Goodwill and intangible assets |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and intangible assets | . Goodwill and intangible assets Intangible assets The composition of goodwill and intangible assets is as follows:
(1)Digital assets are net of $21 million of impairment losses as of both September 30, 2023 and December 31, 2022. Goodwill The changes in the carrying amount of goodwill for the nine-month period ended September 30, 2023 and the year ended December 31, 2022 are as follows:
Amortizable intangible assets Intangible assets with definite useful life are comprised of customer lists, non-compete and non-solicitation agreements, hubs network, acquired software licenses and other acquired intangible assets including developed technologies and trademarks. Aggregate amortization expense for intangible assets for the nine-month periods ended September 30, 2023 and 2022 amounted to $4 million and $4 million, respectively, while aggregate amortization expense for intangible assets totaled $1 million and $1 million for the three-month periods ended September 30, 2023 and 2022, respectively. The following table summarizes the remaining amortization of intangible assets (in millions of U.S. dollars) with definite useful life as of September 30, 2023:
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for goodwill and intangible assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Segment reporting |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment reporting | Segment reporting Reporting segments are based upon the Company’s internal organizational structure, the manner in which the Company’s operations are managed and resources are assigned, the criteria used by Management to evaluate the Company’s performance, the availability of separate financial information and overall materiality considerations. Segment reporting is based on geography as the main basis of segment breakdown in accordance with the criteria, as determined by Management, used to evaluate the Company’s performance. The Company’s segments include Brazil, Argentina, Mexico and other countries (which includes Chile, Colombia, Costa Rica, Ecuador, Peru and Uruguay). Direct contribution consists of net revenues from external customers less direct costs, which include costs of net revenues, product and technology development expenses, sales and marketing expenses, provision for doubtful accounts and general and administrative expenses over which segment managers have direct discretionary control, such as advertising and marketing programs, customer support expenses, payroll and third-party fees. All corporate related costs have been excluded from the segment’s direct contribution. Expenses over which segment managers do not currently have discretionary control, such as certain technology and general and administrative costs, are monitored by Management through shared cost centers and are not evaluated in the measurement of segment performance. The following tables summarize the financial performance of the Company’s reporting segments:
The following tables summarize net revenues per reporting segment, which have been disaggregated by similar products and services for the nine and three-month periods ended September 30, 2023 and 2022:
(a)Includes final value fees paid by sellers derived from intermediation services and related shipping and storage fees, classified fees derived from classified advertising services and ad sales. (b)Includes revenues from inventory sales and related shipping fees. (c)Includes revenues from commissions the Company charges for transactions off-platform derived from use of the Company’s payment solution, 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, Mercado Pago credit and debit card fees and insurtech fees. (d)Includes interest earned on loans and advances granted to merchants and consumers, and interest earned on Mercado Pago credit card transactions. (e)Includes sales of mobile point of sales devices. The following table summarizes the allocation of property and equipment, net based on geography:
The following table summarizes the allocation of the operating lease right-of-use assets based on geography:
The following table summarizes the allocation of the goodwill and intangible assets based on geography:
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Fair value measurement of assets and liabilities |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair value measurement of assets and liabilities | Fair value measurement of assets and liabilities Assets and liabilities measured and recorded at fair value on a recurring basis The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022:
(1)Measured at fair value with impact on the statement of income for the application of the fair value option. (See Note 2 – Fair value option applied to certain financial instruments). (2)As of September 30, 2023 and December 31, 2022 includes $25 million and $21 million, respectively, of investments from securitization transactions that are restricted to the payment of amounts due to third-party investors. (See Note 5 - Cash, cash equivalents, restricted cash and cash equivalents and investments). (3)As of September 30, 2023 and December 31, 2022 includes $193 million and $314 million, respectively, of money market funds from securitization transactions. (See Note 5 - Cash, cash equivalents, restricted cash and cash equivalents and investments). As of September 30, 2023 and December 31, 2022, the Company’s assets and liabilities measured and recorded at fair value on a recurring basis were valued using i) Level 1 inputs: unadjusted quoted prices in active markets (Level 1 instrument valuations are obtained from observable inputs that reflect quoted prices (unadjusted) for identical assets in active markets); ii) Level 2 inputs: obtained from readily-available pricing sources for comparable instruments as well as instruments with inactive markets at the measurement date; and iii) Level 3 inputs: valuations based on unobservable inputs reflecting Company’s assumptions. The unobservable inputs of the fair value of contingent considerations classified as Level 3 refer to the amounts to be paid according to the respective agreements of each acquisition, the likelihood of achievement of the performance targets arising from each one (expected to be 100%), and the Company’s historical experience with similar arrangements. Reasonable variation on those unobservable inputs would not significantly change the fair value of those instruments. As of September 30, 2023 and December 31, 2022, the Company had not changed the methodology nor the assumptions used to estimate the fair value of the financial instruments. There were no transfers to and from Levels 1, 2 and 3 during the nine-month period ended September 30, 2023. There were no transfers to and from Levels 1, 2 and 3 during the year ended December 31, 2022, other than as detailed in the table below. As of September 30, 2023, the contingent considerations measured at fair value using Level 3 inputs were settled. The following table summarizes the reconciliation of the financial liabilities measured at fair value using Level 3 inputs as of December 31, 2022:
The Company’s election of the fair value option applies to the: i) Brazilian federal government bonds and ii) U.S. treasury notes. The Company recognized fair value changes in interest income and other financial gains which includes the related interest income of those instruments. Such fair value changes and interest income amount to $195 million and $81 million, and $104 million and $42 million for the nine and three-month periods ended September 30, 2023 and 2022, respectively. As of September 30, 2023 and December 31, 2022, the Company held no debt securities classified as available for sale. However, during the year ended December 31, 2022, the Company purchased and sold all the corporate debt securities classified as available for sale, resulting in $156 million of proceeds from the sales and in gross realized gains less than $1 million. The cost of these securities was determined under a specific identification basis. Financial assets and liabilities not measured and recorded at fair value The following table summarizes the estimated fair value of the financial assets and liabilities of the Company not measured at fair value as of September 30, 2023 and December 31, 2022:
As of September 30, 2023 and December 31, 2022, the carrying value of the Company’s financial assets (except for loans receivable and equity securities held at cost) not measured at fair value approximated their fair value mainly because of their short-term maturity. If these financial assets were measured at fair value in the financial statements, cash and restricted cash would be classified as Level 1 (where cost and fair value are aligned) and the remaining financial assets would be classified as Level 2. The estimated fair value of the loans receivable would be classified as Level 3 based on the Company’s assumptions. As of September 30, 2023 and December 31, 2022, the carrying value of the Company’s financial liabilities (except for 2028 Notes, 2026 Sustainability Notes and 2031 Notes) not measured at fair value approximated their fair value mainly because of their short-term maturity and the effective interest rates are not materially different from market interest rates. If these financial liabilities were measured at fair value in the financial statements, these would be classified as Level 2. As of September 30, 2023 and December 31, 2022, the estimated fair value of the 2026 Sustainability Notes and 2031 Notes would be $365 million and $359 million, and $553 million and $541 million, respectively, based on Level 2 inputs. Also, as of September 30, 2023 and December 31, 2022, the estimated fair value of the 2028 Notes would be $255 million and $884 million, respectively, and would be classified as Level 2 based on the closing trading price per $100 principal amount of the 2028 Notes as of the last day of trading for the period. The fair value of the 2028 Notes is primarily affected by the trading price of the Company’s common stock and market interest rates. Based on the $1,267.88 closing price of the Company’s common stock on September 30, 2023, the if-converted value of the 2028 Notes exceeded their principal amount by $167 million.
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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Commitments and Contingencies |
9 Months Ended |
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Sep. 30, 2023 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | Commitments and Contingencies Litigation and Other Legal Matters The Company is subject to certain contingent liabilities with respect to existing or potential claims, lawsuits and other proceedings. The Company accrues liabilities when it considers it probable that future costs will be incurred and such costs can be reasonably estimated. Proceeding-related liabilities are based on developments to date and historical information related to actions filed against the Company. As of September 30, 2023, the Company had accounted for estimated liabilities involving proceeding-related contingencies and other estimated contingencies of $72 million to cover legal actions against the Company in which Management has assessed the likelihood of a final adverse outcome as probable. Expected legal costs related to litigations are accrued when the legal service is actually provided. In addition, as of September 30, 2023, the Company and its subsidiaries are subject to certain legal actions considered by the Company’s Management and its legal counsels to be reasonably possible of resulting in a loss for an estimated aggregate amount up to $480 million. No loss amounts have been accrued for such reasonably possible legal actions. For further information related to contingent liabilities please refer to Note 15 to the consolidated financial statements in the Company’s 2022 10-K. Tax Claims Interstate rate of ICMS-DIFAL on interstate sales The tax claim related to the interstate rate of ICMS-DIFAL (Imposto sobre Circulaçao de Mercadorias, Serviços de Transporte Interestadual, Intermunicipal e Comunicação on interstate sales at a differential rate) without the existence of a complementary law is described in Note 15 to the consolidated financial statements in the Company’s 2022 10-K. In April 2023, and based on court authorization, the Company withdrew the deposits corresponding to the case related to the State of Santa Catarina, which had become final and unappealable in September 2022 in favor of eBazar.com.br Ltda. In June 2023, the case related to the State of Goiás (whose risk of losing had been considered remote), reached a final and unappealable judgment in favor of eBazar.com.br Ltda. and Mercado Pago Instituição de Pagamento Ltda., and the companies will withdraw the deposits corresponding to the case as soon as the court authorization is granted. In August 2023, one of the cases related to the State of Bahia (whose risk of losing had been considered probable), reached a final and unappealable judgment in favor of the State. Finally, in September 2023, one of the cases related to the State of Rio de Janeiro (whose risk of losing had been considered probable), reached a final and unappealable judgment in favor of the State. The remaining cases pending as of December 31, 2022 had no updates during the nine-month period ended September 30, 2023. The Company maintains a $3 million provision as of September 30, 2023 for the disputed amounts related to the 4 ongoing cases whose risk of losing is considered by Management to be probable, based on the opinion of external legal counsel. In addition, with respect to the tax claims related to the interstate rate of ICMS-DIFAL on interstate sales under the supplementary Law No. 190/22, as described in Note 15 to the consolidated financial statements in the Company’s 2022 10-K, the Brazilian Supreme Court has announced that it expects to make a judgment regarding the constitutionality of the supplementary Law on November 22, 2023. Exclusion of ICMS tax benefits from PIS and COFINS tax base The Company receives ICMS tax benefits from the State of Minas Gerais, Brazil, granted through a special regime signed with the State by means of a term of agreement, which are aimed at implementing and expanding business in the State. The Company accounted for the tax benefit netting cost of net revenues for the nine and three-month periods ended September 30, 2023, for $44 million and $16 million, respectively, and for the nine and three-month periods ended September 30, 2022, for $25 million and $8 million, respectively. On April 25, 2023, the Company filed a writ of mandamus seeking an injunction and claiming the exclusion of the amounts relating to the ICMS tax benefits granted by the State of Minas Gerais in the tax base of the Social Contributions (PIS and COFINS). On May 26, 2023, a decision was rendered granting the injunction requested. The Company is currently waiting for the final judicial decision. Management’s opinion, based on the opinion of external legal counsel, is that the risk of losing the case is reasonably possible but not probable based on the technical merits of the Company’s tax position. For that reason, the Company has not recorded any expense or liability for the disputed amounts. The Company accounted for $9 million for PIS and COFINS tax benefits arising from the ICMS tax incentives during the nine-month period ended September 30, 2023, considering the exchange rate as of September 30, 2023, of which $2 million corresponded to the period ended December 31, 2021, and $3 million corresponded to the period ended December 31, 2022. Marketplace joint and several liability In the context of intermediation transactions on the marketplace platform, the Brazilian subsidiary eBazar.com.br Ltda. received tax assessments aimed at collecting alleged ICMS debts for the 2017 to 2019 fiscal years, in the amount of $8 million, considering the exchange rate as of September 30, 2023. The tax assessment intends to attribute to eBazar.com.br Ltda. the joint and several liability for the payment of ICMS allegedly due by sellers on the sale of goods without compliant invoices. The Company presented its objection in August 2023. Management’s opinion, based on the opinion of external legal counsel, is that the risk of losing the case is reasonably possible, but not probable. Buyer protection program The buyer protection program (“BPP”) is designed to protect buyers in the Marketplace from losses due primarily to fraud or counterparty non-performance. The Company’s BPP provides protection to consumers by reimbursing them for the total value of a purchased item and the value of any shipping service paid if it does not arrive, arrives incomplete or damaged, does not match the seller’s description or if the buyer regrets the purchase. The Company is entitled to recover from the third-party carrier companies performing the shipping service certain amounts paid under the BPP. Furthermore, in some specific circumstances, the Company enters into insurance contracts with third-party insurance companies in order to cover contingencies that may arise from the BPP. The maximum potential exposure under this program is estimated to be the volume of payments on the Marketplace, for which claims may be made under the terms and conditions of the Company’s BPP. Based on historical losses to date, the Company does not believe that the maximum potential exposure is representative of the actual potential exposure. The Company records a liability with respect to losses under this program when they are probable and the amount can be reasonably estimated. As of September 30, 2023 and December 31, 2022, Management’s estimate of the maximum potential exposure related to the Company’s buyer protection program is $4,364 million and $4,002 million, respectively, for which the Company recorded a provision of $5 million and $6 million, respectively. Commitments The Company committed to purchase cloud platform services from two U.S. suppliers based on the following terms: a) for a total amount of $824 million, to be paid between October 1, 2021 and September 30, 2026. As of September 30, 2023, the Company had paid $342 million; and b) for a total amount of $200 million, to be paid between September 23, 2022 and September 23, 2025. As of September 30, 2023, the Company had paid $51 million. On April 8, 2022, the Company signed a 10-year agreement with Gol Linhas Aereas S.A. under which the Company is committed to contract a minimum amount of air logistics services for a total annual cost of $43 million (total amount once all the dedicated aircraft are in operation). Pursuant to the agreement, Gol Linhas Aereas S.A. provides logistics services in Brazil to Mercado Envios through six dedicated aircraft, five of which have already started operations as of September 30, 2023. In connection with the closing of MELI Kaszek Pioneer Corp’s (“MEKA”) initial public offering on October 1, 2021, MEKA (a special purpose acquisition company sponsored by MELI Kaszek Pioneer Sponsor LLC (the “Sponsor”), which is a joint venture between Company’s subsidiary MELI Capital Ventures LLC and Kaszek Ventures Opportunity II, L.P.) entered into a forward purchase agreement with the Sponsor, pursuant to which the Sponsor committed to purchase from MEKA 5 million Class A ordinary shares at a price of $10 per share in a private placement to close substantially concurrently with the consummation of MEKA’s initial business combination. MEKA will be deemed to be dissolved on January 2, 2024, resulting in the extinguishment of this commitment.
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- References No definition available.
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Long term retention program ("LTRP") |
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| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long term retention program ("LTRP") | Long term retention program (“LTRP”) The following table summarizes the long term retention program accrued compensation expense for the nine and three-month periods ended September 30, 2023 and 2022, which are payable in cash according to the decisions made by the Board of Directors (the “Board”):
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- Definition The entire disclosure for defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Loans payable and other financial liabilities |
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| 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 September 30, 2023 and December 31, 2022:
(*)The carrying amount includes the effect of the derivative instrument that qualified for fair value hedge accounting. See Note 15 "Derivative instruments" for further detail. See Notes 13 and 14 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 2.375% Sustainability Notes due 2026 (the “2026 Sustainability Notes”) and $700 million aggregate principal amount of 3.125% Notes due 2031 (the “2031 Notes”, and together with the 2026 Sustainability Notes, the “Notes”). In May 2023, the Company repurchased a $2 million and $44 million principal amount of the outstanding 2026 Sustainability Notes and 2031 Notes, respectively. The total amount paid amounted to $38 million. For the nine-month periods ended September 30, 2023, the Company recognized $8 million as a gain in Interest income and other financial gains in the unaudited interim condensed consolidated statements of income. For additional information regarding the 2026 Sustainability Notes and the 2031 Notes please refer to Note 17 to the audited consolidated financial statements for the year ended December 31, 2022, contained in the Company’s 2022 10-K. 2.00% Convertible Senior Notes Due 2028 (“2028 Notes”) On September 19, 2023, the Company announced its intention to redeem all its 2028 Notes on November 14, 2023. Holders of the 2028 Notes may elect to convert their notes at any time before November 13, 2023. Each $1,000 principal amount of 2028 Notes is convertible into 2.2952 shares of MercadoLibre common stock. This conversion rate reflects an increase of 0.0399 additional shares per $1,000 principal amount of 2028 Notes above the otherwise applicable conversion rate, which applies because the notes have been called for redemption. The Company settles any conversions solely in shares of common stock, except that any fractional shares that would otherwise be deliverable are paid out in cash. The redemption price to be paid for any notes that are not converted will be 100% of the redeemed notes’ principal amount plus accrued and unpaid interest up to, but excluding, the redemption date. As of September 30, 2023, holders of the 2028 Notes converted $351 million principal amount of 2028 Notes into 806,629 shares of the Company’s common stock which MercadoLibre held as treasury stock. As of September 30, 2023, these 2028 Notes conversions generated a non-cash transaction of $350 million. As of the date of issuance of these unaudited interim condensed consolidated financial statements, $379 million principal amount of 2028 Notes were converted into 869,692 shares of the Company’s common stock. After all 2028 Notes’ conversions mentioned, the outstanding principal amount of 2028 Notes is $60 million. The Company entered into 2028 Notes Capped Call Transactions. The settlement averaging period with respect to the 2028 Notes Capped Call Transactions began on June 28, 2023 and ended on August 30, 2023, and the 2028 Notes Capped Call Transactions settlement date was September 1, 2023. As a result the Company received 289,675 shares of common stock. As of September 30, 2023, the principal and issuance costs of the 2028 Notes amounted to $88 million and $1 million, respectively. As of December 31, 2022, the principal and issuance costs of the 2028 Notes amounted to $439 million and $3 million, respectively. For the nine and three-month periods ended September 30, 2023 and 2022, the Company recognized interest expense, including the amortization of issuance costs of $7 million and $2 million, in both periods, respectively. For additional information regarding the 2028 Notes and the 2028 Notes Capped Call Transactions please refer to Note 17 to the audited consolidated financial statements for the year ended December 31, 2022, contained in the Company’s 2022 10-K. Revolving Credit Agreement On March 31, 2022, the Company, as borrower, and certain of its Subsidiaries, as guarantors, entered into a $400 million revolving credit agreement. For additional information regarding the Credit Agreement please refer to Note 17 to the audited consolidated financial statements for the year ended December 31, 2022, contained in the Company’s 2022 10-K. As of September 30, 2023, no amounts have been borrowed under the facility.
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- References No definition available.
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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. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Securitization Transactions |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Securitization Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Securitization Transactions | Securitization Transactions The process of securitization consists of the issuance of securities collateralized by a pool of assets through a special purpose entity (“SPEs”), often under a VIE. The Company securitizes financial assets associated with its credit card receivables and loans receivable portfolio. The Company’s securitization transactions typically involve the legal transfer of financial assets to bankruptcy remote SPEs. The Company generally retains economic interests in the collateralized securitization transactions, which are retained in the form of subordinated interests. For accounting purposes, the Company is generally precluded from recording the transfers of assets in securitization transactions as sales or is required to consolidate the SPE. The Company securitizes certain credit card receivables related to users’ purchases through Chilean SPEs. Under the SPE contracts, the Company has determined that it has no obligation to absorb losses or the right to receive benefits of the SPEs that could be significant because it does not retain any equity certificate of participation or subordinated interest in the SPEs. As the Company does not control the vehicles, its assets, liabilities and related results are not consolidated in the Company’s financial statements. Additionally, the Company securitizes certain credit card receivables related to users’ purchases through Brazilian SPEs. Under the SPE contracts, the Company has determined that it has the obligation to absorb losses or the right to receive benefits of the SPEs that could be significant because it retains subordinated interest in the SPEs. As the Company controls the vehicles, the assets, liabilities and related results are consolidated in its financial statements. The Company securitizes certain loans receivable through Brazilian, Argentine and Mexican SPEs, formed to securitize loans receivable provided by the Company to its users or purchased from financial institutions that grant loans to the Company’s users through Mercado Pago. According to the SPE contracts, the Company has determined that it has both the power to direct the activities of the entity that most significantly impact the entity’s performance and the obligation to absorb losses or the right to receive benefits of the entity that could be significant because it retains the equity certificates of participation and would therefore also be consolidated. When the Company controls the vehicle, it accounts for the securitization transactions as if they were secured financing and therefore the assets, liabilities and related results are consolidated in its financial statements. The following table summarizes the Company’s collateralized debt under securitization transactions, as of September 30, 2023:
(*)As of September 30, 2023, Loans payable owned by this trust were obtained through private placements. Mercado Crédito Consumo XXV trust made a public bond offering in the Argentine stock market on October 4, 2023. This secured debt is issued by the SPEs and includes collateralized securities used to fund the Company’s Fintech business. The third-party investors in the securitization transactions have legal recourse only to the assets securing the debt and do not have recourse to the Company. Additionally, the cash flows generated by the SPEs are restricted to the payment of amounts due to third-party investors, but the Company retains the right to residual cash flows. The assets and liabilities of the SPEs are included in the Company’s unaudited interim condensed consolidated financial statements as of September 30, 2023 and December 31, 2022 as follows:
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- Definition Securitization Transactions [Abstract] No definition available.
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- Definition Securitization Transactions Disclosure [Text Block] No definition available.
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Leases |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | Leases The Company leases certain fulfillment, cross-docking and services centers, office space, aircraft, aircraft hangars, machines, and vehicles in the various countries in which it operates. The lease agreements do not contain any residual value guarantees or material restrictive covenants. Supplemental balance sheet information related to leases was as follows:
The following table summarizes the weighted average remaining lease term and the weighted average incremental borrowing rate for operating leases and the weighted average discount rate for finance leases as of September 30, 2023 and December 31, 2022:
(*)Includes discount rates of leases in local currency and U.S. dollar. The components of lease expense were as follows:
Supplemental cash flow information related to leases was as follows:
The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted by the Company’s incremental borrowing rates to calculate the lease liabilities for the operating and finance leases:
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| Leases | Leases The Company leases certain fulfillment, cross-docking and services centers, office space, aircraft, aircraft hangars, machines, and vehicles in the various countries in which it operates. The lease agreements do not contain any residual value guarantees or material restrictive covenants. Supplemental balance sheet information related to leases was as follows:
The following table summarizes the weighted average remaining lease term and the weighted average incremental borrowing rate for operating leases and the weighted average discount rate for finance leases as of September 30, 2023 and December 31, 2022:
(*)Includes discount rates of leases in local currency and U.S. dollar. The components of lease expense were as follows:
Supplemental cash flow information related to leases was as follows:
The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted by the Company’s incremental borrowing rates to calculate the lease liabilities for the operating and finance leases:
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- References No definition available.
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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Derivative instruments |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative instruments | Derivative instruments Cash flow hedges As of September 30, 2023, the Company used foreign currency exchange contracts to hedge the foreign currency effects related to the forecasted purchase of MPOs devices in U.S. dollars owed by a Brazilian subsidiary whose functional currency is the Brazilian Real. The Company designated the foreign currency exchange contracts as cash flow hedges, the derivative’s gain or loss is initially reported as a component of accumulated other comprehensive income and subsequently reclassified into earnings in the same period the forecasted transaction affects earnings. As of September 30, 2023, the Company estimated that the whole amount of net derivative gains or losses related to its cash flow hedges included in accumulated other comprehensive income will be reclassified into earnings within the next 12 months. In addition, the Company has entered into swap contracts to hedge the interest rate fluctuation of its variable financial debt issued by one of its Brazilian subsidiaries. The Company designated the swap contracts as cash flow hedges. The derivative’s gain or loss is initially reported as a component of accumulated other comprehensive income and subsequently reclassified into earnings within the next 12 months. Fair value hedges The Company has entered into cross currency swap contracts to hedge the interest rate and the foreign currency exposure of its fixed-rate, foreign currency financial debt issued by its Brazilian subsidiaries. The Company designated the swap contracts as fair value hedges. The derivative’s gain or loss is reported in earnings in the same line items as the change in the value of the financial debt due to the hedged risks. Since the terms of the interest rate swaps match the terms of the hedged debts, changes in the fair value of the interest rate swaps are offset by changes in the fair value of the hedged debts attributable to changes in interest rates. Accordingly, the net impact in current earnings is that the interest expense associated with the hedged debts is recorded at the floating rates. Net investment hedge The Company used cross currency swap contracts, to reduce the foreign currency exchange risk related to its investment in its Brazilian foreign subsidiaries and the interest rate risk. This derivative was designated as a net investment hedge and, accordingly, gains and losses are reported as a component of accumulated other comprehensive income. The derivative’s gain or loss is initially reported as a component of accumulated other comprehensive income and is expected to be reclassified into earnings in the same period that the interest expense affects earnings. Derivative instruments not designated as hedging instruments As of September 30, 2023, the Company entered into certain foreign currency exchange contracts to hedge the foreign currency fluctuations related to certain transactions denominated in U.S. dollars of certain of its Brazilian subsidiaries, whose functional currencies are the Brazilian Real. These transactions were not designated as hedges for accounting purposes. Finally, as of September 30, 2023, the Company entered into swap contracts to hedge the interest rate fluctuation of a certain portion of its financial debt in its Brazilian subsidiaries and VIEs. These transactions were not designated as hedges for accounting purposes. The following table presents the notional amounts of the Company’s outstanding derivative instruments:
Derivative Instrument Contracts The fair values of the Company’s outstanding derivative instruments as of September 30, 2023 and December 31, 2022 were as follows:
The effects of derivative contracts on the unaudited interim condensed consolidated statement of comprehensive income as of September 30, 2023 were as follows:
The effect of the Company’s fair value hedge relationships on the unaudited interim condensed consolidated statements of income for the nine and three-month periods ended September 30, 2023 is a loss of $9 million and a gain of $4 million, respectively, and affected interest expense and other financial losses and foreign exchange losses, net. For the nine and three-month periods ended September 30, 2022, the Company recognized a gain of $1 million that affected interest expense and other financial losses. The carrying amount of the hedged items for fair value hedges as of September 30, 2023 and December 31, 2022 was $214 million and $59 million, respectively. The effect of the Company’s fair value hedge relationships on the unaudited interim condensed consolidated balance sheets related to cumulative basis adjustments for fair value hedges as of September 30, 2023 is less than $1 million, while as of September 30, 2022 is $1 million. The effects of derivative contracts not designated as hedging instruments on the unaudited interim condensed consolidated statements of income for the nine and three-month periods ended September 30, 2023 and 2022 were as follows:
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- References No definition available.
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Share repurchase program |
9 Months Ended |
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Sep. 30, 2023 | |
| Equity [Abstract] | |
| Share repurchase program | Share repurchase program On February 21, 2023, the Board authorized the Company to repurchase shares of the Company’s common stock, for an aggregate consideration of up to $900 million to expire on March 31, 2024. As of September 30, 2023, the estimated remaining balance available for share repurchases under this Program was $157 million. The Company expects to purchase shares at any time and from time to time, in compliance with applicable federal securities laws, through open-market purchases, block trades, derivatives, trading plans established in accordance with SEC rules, or privately negotiated transactions. The timing of repurchases will depend on factors including market conditions and prices, the Company’s liquidity requirements and alternative uses of capital. The share repurchase program may be suspended from time to time or discontinued, and there is no assurance as to the number of shares that will be repurchased under the program or that there will be any additional repurchases. As of September 30, 2023, the Company had acquired 570,049 shares under the aforementioned share repurchase programs. From time to time, the Company acquires shares of its own common stock in the Argentine market and pays for them in Argentine Pesos at a price that reflects the additional cost of accessing U.S. dollars through securities denominated in U.S. dollars, because of restrictions imposed by the Argentine government for buying U.S. dollars at the official exchange rate in Argentina (See Note 2 - “Summary of significant accounting policies - Argentine currency status” of these unaudited interim condensed consolidated financial statements). As a result, the Company recognized foreign currency losses of $386 million and $108 million for the nine-month periods ended September 30, 2023 and 2022 respectively, while foreign currency losses for the three-month periods ended September 30, 2023 and 2022 amounted to $173 million and $45 million, respectively.
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- References No definition available.
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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Pay vs Performance Disclosure - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Sep. 30, 2022 |
Jun. 30, 2022 |
Mar. 31, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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| Pay vs Performance Disclosure | ||||||||
| Net income | $ 359 | $ 262 | $ 201 | $ 129 | $ 123 | $ 65 | $ 822 | $ 317 |
| X | ||||||||||
- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Insider Trading Arrangements |
3 Months Ended |
|---|---|
Sep. 30, 2023 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
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- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of significant accounting policies (Policies) |
9 Months Ended |
|---|---|
Sep. 30, 2023 | |
| Accounting Policies [Abstract] | |
| Basis of presentation | Basis of presentation The accompanying unaudited interim condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of the Company, its wholly-owned subsidiaries and consolidated Variable Interest Entities (“VIE”). Investments in entities where the Company holds joint control, but not control, over the investee are accounted for using the equity method of accounting. These unaudited interim condensed consolidated financial statements are stated in U.S. dollars, except where otherwise indicated. Intercompany transactions and balances with subsidiaries have been eliminated for consolidation purposes.
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| Use of estimates | Use of estimates The preparation of these unaudited interim condensed consolidated financial statements in conformity with U.S. GAAP requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used for, but not limited to, accounting for allowance for doubtful accounts and chargeback provisions, inventories valuation reserves, recoverability of goodwill, intangible assets with indefinite useful lives and deferred tax assets, impairment of short-term and long-term investments, impairment of long-lived assets, separation of lease and non lease components for aircraft leases, compensation costs relating to the Company’s long term retention program, fair value of convertible debt, fair value of investments, fair value of loans receivable, fair value of derivative instruments, income taxes and contingencies and determination of the incremental borrowing rate at commencement date of lease operating agreements. Actual results could differ from those estimates.
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| Revenue recognition | Revenue recognition Revenue recognition criteria for the services provided and goods sold by the Company are described in Note 2 to the consolidated financial statements in the Company’s 2022 10-K. The aggregate gain included in “Fintech services” revenues arising from financing transactions and sales of financial assets, net of the costs recognized on sale of credit card receivables, is $1,055 million and $379 million for the nine and three-month periods ended September 30, 2023 and $751 million and $261 million for the nine and three-month periods ended September 30, 2022, respectively. Contract balances Timing of revenue recognition may differ from the timing of invoicing to customers. Receivables represent amounts invoiced and revenue recognized prior to invoicing when the Company has satisfied the performance obligation and has the unconditional right to payment. Accounts receivable and credit card receivables and other means of payments are presented net of allowance for doubtful accounts and chargebacks of $35 million and $25 million as of September 30, 2023 and December 31, 2022, respectively. See Note 6 of these unaudited interim condensed consolidated financial statements for information related to the allowance for doubtful accounts with respect to the Company’s loans receivable. Deferred revenue consists of fees received related to unsatisfied performance obligations at the end of the period in accordance with Accounting Standards Codification (“ASC”) 606. Due to the generally short-term duration of contracts, the majority of the performance obligations are satisfied in the following months.
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| Foreign currency translation | Foreign currency translation All of the Company’s foreign operations have determined the local currency to be their functional currency, except for Argentina, which has used the U.S. dollar as its functional currency since July 1, 2018. Accordingly, the foreign subsidiaries with local currency as functional currency translate assets and liabilities from their local currencies into U.S. dollars by using period-end exchange rates while income and expense accounts are translated at the average monthly rates in effect during the period, unless exchange rates fluctuate significantly during the period, in which case the exchange rates at the date of the transaction are used. The resulting translation adjustment is recorded as a component of other comprehensive income. Net foreign currency transaction results are included in the unaudited interim condensed consolidated statements of income under the caption “Foreign currency losses, net”. Argentine currency status As of July 1, 2018, the Company transitioned its Argentine operations to highly inflationary status in accordance with U.S. GAAP, and changed the functional currency for Argentine subsidiaries from Argentine Pesos to U.S. dollars, which is the functional currency of their immediate parent company.
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| Income taxes | Income taxes Income taxes’ accounting policy is described in Note 2 to the consolidated financial statements in the Company’s 2022 10-K. The Company’s consolidated estimated effective tax rate for the nine-month period ended September 30, 2023 increased as compared to the same period in 2022. This was a result of (i) taxable foreign exchange gains accounted for local tax purposes that are not recorded for accounting purposes since, under U.S. GAAP, Argentina’s operations’ functional currency is the U.S. dollar due to the highly inflationary status of the country, (ii) a higher proportion of pre-tax results arising from entities under general income tax treatment regime over the Brazilian segment as compared to the same period in 2022 and (iii) higher non-deductible foreign exchange losses related to the acquisition of our own common stock in the Argentine market. This increase was partially offset by the reversal of the valuation allowances in one of the Company’s Mexican subsidiaries during the third quarter of 2023. The Company’s consolidated estimated effective tax rate for the three-month period ended September 30, 2023 decreased as compared to the same period in 2022, mainly as a result of the reversal of the valuation allowances in one of its Mexican subsidiaries during the third quarter of 2023. This decrease was partially offset by taxable foreign exchange gains accounted for local tax purposes, which are not recorded for accounting purposes given that under U.S. GAAP and due to Argentina’s highly inflationary status, Argentina’s operations’ functional currency is the U.S. dollar. A valuation allowance is recorded when, based on the available evidence, it is more likely than not that all or a portion of the Company’s deferred tax assets will not be realized. In accordance with ASC 740, Management periodically assesses the need to either establish or reverse a valuation allowance for deferred tax assets considering positive and negative objective evidence related to the realization of the deferred tax assets. In its assessment, Management considers, among other factors, the nature, frequency and magnitude of current and cumulative losses on an individual subsidiary basis, projections of future taxable income, the duration of statutory carryforward periods, as well as feasible tax planning strategies, which would be employed by the Company to prevent tax loss carryforwards from expiring unutilized. As of September 30, 2023, the Company’s Management concluded that an amount of $141 million of valuation allowance should be reversed at that date given that is more likely than not that deferred tax assets from DeRemate.com de México, S. de R.L. de C.V., a Mexican subsidiary, will be realized in the foreseeable future. The change in judgment regarding the realizability of the deferred tax assets of the Mexican subsidiary was triggered during the three-month period ended September 30, 2023, as positive trends observed in recent periods became enough evidence to support the conclusion. Knowledge-based economy promotional regime in Argentina In August 2021, the Under Secretariat of Knowledge Economy issued the Disposition 316/2021 approving MercadoLibre S.R.L.’s application for eligibility under the knowledge-based economy promotional regime, established by the Law No. 27,506 and complemented by Argentina’s Executive Power Decree No. 1034/2020, Argentina’s Ministry of Productive Development’s Resolution No. 4/2021 and the Under Secretariat of Knowledge Economy’s Disposition No. 11/2021. As a result, the Company recorded an income tax benefit of $35 million and $14 million, and $19 million and $15 million during the nine and three-month periods ended September 30, 2023 and 2022, respectively. The aggregate per share effect of the income tax benefit amounted to $0.69 and $0.27, and $0.38 and $0.30 for the nine and three-month periods ended September 30, 2023 and 2022, respectively. Furthermore, the Company recorded a social security benefit of $49 million and $16 million, and $39 million and $13 million during the nine and three-month periods ended September 30, 2023 and 2022, respectively.
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| Fair value option applied to certain financial instruments | Fair value option applied to certain financial instruments Under ASC 825, U.S. GAAP provides an option to elect fair value with impact on the statement of income as an alternative measurement for certain financial instruments and other items on the balance sheet. The Company has elected to measure certain financial assets at fair value with impact on the statement of income for several reasons including to avoid the mismatch generated by the recognition of certain linked instruments / transactions, separately, in the unaudited interim condensed consolidated statement of income and unaudited interim condensed consolidated statement of comprehensive income and to better reflect the financial model applied for selected instruments. The Company’s election of the fair value option applies to the: i) Brazilian federal government bonds and ii) U.S. treasury notes.
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| Recently Adopted Accounting Standards & Recently issued accounting pronouncements not yet adopted | Recently Adopted Accounting Standards On October 28, 2021, the FASB issued the Accounting Standards Update (“ASU”) 2021-08 “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”. The amendments in this update improve comparability for the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination by specifying for all acquired revenue contracts regardless of their timing of payment (1) the circumstances in which the acquirer should recognize contract assets and contract liabilities that are acquired in a business combination and (2) how to measure those contract assets and contract liabilities. The amendments provide consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The Company adopted this standard effective as of January 1, 2023 and it did not have a material impact on the Company’s financial statements. On March 31, 2022, the FASB issued the ASU 2022-02 “Troubled Debt Restructurings (“TDRs”) and Vintage Disclosures (Topic 326): Financial Instruments – Credit Losses”, which eliminates the accounting guidance on TDRs, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, the guidance requires disclosure of current-period gross write-offs by year of origination for financing receivables and net investment in leases. The amendments should be applied prospectively, except for the transition method related to the recognition and measurement of TDRs, where an entity has the option to apply a modified retrospective transition method, resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. The Company adopted this standard effective as of January 1, 2023 and it did not have a material impact on the Company’s financial statements. On September 29, 2022, the FASB issued the ASU 2022-04 “Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations”. The amendments in this update require entities that use supplier finance programs in connection with the purchase of goods and services to disclose the key terms of the programs and information about their obligations outstanding at the end of the reporting period, including a rollforward of those obligations. The guidance does not affect the recognition, measurement or financial statement presentation of supplier finance program obligations. The Company adopted this standard effective as of January 1, 2023, except for the rollforward requirement, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. The guidance should be applied retrospectively to all periods in which a balance sheet is presented, except for the rollforward requirement, which should be applied prospectively. 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 policy. Suppliers’ voluntary inclusion of invoices in the SFP does not change the Company’s payment terms, the amounts paid or liquidity. 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 September 30, 2023 and December 31, 2022, the obligations outstanding that the Company has confirmed as valid to the financial institutions amounted to $302 million and $227 million, respectively, and are included in the unaudited interim condensed consolidated balance sheets within accounts payable and accrued expenses line. Recently issued accounting pronouncements not yet adopted As of the date of issuance of these unaudited interim condensed consolidated financial statements there were no accounting pronouncements issued not yet adopted expected to have a material impact on the Company’s financial statements.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
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| X | ||||||||||
- Definition Disclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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| X | ||||||||||
- Definition Disclosure of accounting policy for revenue from contract with customer. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Summary of significant accounting policies (Tables) |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Assets, Liabilities and Net Assets of Company's Argentinean Subsidiaries | The following table sets forth the assets, liabilities and net assets of the Company’s Argentine subsidiaries and consolidated VIEs, before intercompany eliminations, as of September 30, 2023 and December 31, 2022:
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| Schedule of Net Revenues and Net Income Before Income Tax of Company's Subsidiaries | The following table provides information relating to net revenues and direct contribution (see Note 8 of these unaudited interim condensed consolidated financial statements for definition of direct contribution) for the nine and three-month periods ended September 30, 2023 and 2022 of the Company’s Argentine subsidiaries and consolidated VIEs:
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- Definition Assets liabilities and net assets of company's subsidiaries. No definition available.
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| X | ||||||||||
- Definition Schedule Of Net Revenues And Net Income Before Income Tax Of Company's Subsidiaries No definition available.
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| X | ||||||||||
- References No definition available.
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Net income per share (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income Per Share of Common Stock | Net income per share of common stock is as follows for the nine and three-month periods ended September 30, 2023 and 2022:
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| X | ||||||||||
- Definition Net income per share of common stock. No definition available.
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| X | ||||||||||
- References No definition available.
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Cash, cash equivalents, restricted cash and cash equivalents and investments (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Cash, Cash Equivalents, Restricted Cash and Cash Equivalents and Investments | The composition of cash, cash equivalents, restricted cash and cash equivalents, short-term and long-term investments is as follows:
(1)Regulations issued by the Central Banks and other regulators of the countries where the Company operates applicable to its Fintech business are described in Note 3 to the consolidated financial statements in the Company’s 2022 10-K. Recently issued regulations are described in Note 3 of these unaudited interim condensed consolidated financial statements. (2)Investments from securitization transactions are restricted to the payment of amounts due to third-party investors. (3)Cash, cash equivalents, restricted cash and cash equivalents as reported in the consolidated statement of cash flows. (4)As of September 30, 2023, this includes $6 million that guarantee a line of credit and are considered restricted. (5)On September 11, 2023, the Brazilian subsidiary Mercado Crédito Sociedade de Crédito, Financiamento e Investimento S.A. received $15 million of capital contribution from its shareholders, which is in the process of legal registration by the Central Bank of Brazil. As a result, $15 million of long-term investments are considered restricted as of September 30, 2023.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the components of cash, cash equivalents, and investments. No definition available.
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Loans receivable, net (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Loans Receivable, Net | The Company classifies loans receivable as “On-line merchant”, “Consumer”, “In-store merchant” and “Credit cards”. As of September 30, 2023 and December 31, 2022, the components of Loans receivable, net were as follows:
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| Schedule of Credit Quality Analysis of Loans Receivables | The amortized cost of the loans receivable classified by the Company’s credit quality internal indicator was as follows:
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| Summary of Allowance for Uncollectible Accounts Activity | The following tables summarize the allowance for doubtful accounts activity during the nine-month periods ended September 30, 2023 and 2022:
(*) The Company writes off loans when customer balance becomes 360 days past due.
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| X | ||||||||||
- Definition Tabular disclosure of allowance for credit loss on financing receivable. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Goodwill and intangible assets (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Composition of Goodwill and Intangible Assets | The composition of goodwill and intangible assets is as follows:
(1)Digital assets are net of $21 million of impairment losses as of both September 30, 2023 and December 31, 2022.
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| Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the nine-month period ended September 30, 2023 and the year ended December 31, 2022 are as follows:
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| Expected Intangible Asset Amortization Expense | The following table summarizes the remaining amortization of intangible assets (in millions of U.S. dollars) with definite useful life as of September 30, 2023:
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Segment reporting (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Performance of Company's Reporting Segments | The following tables summarize the financial performance of the Company’s reporting segments:
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| Consolidated Net Revenues by Similar Products and Services | The following tables summarize net revenues per reporting segment, which have been disaggregated by similar products and services for the nine and three-month periods ended September 30, 2023 and 2022:
(a)Includes final value fees paid by sellers derived from intermediation services and related shipping and storage fees, classified fees derived from classified advertising services and ad sales. (b)Includes revenues from inventory sales and related shipping fees. (c)Includes revenues from commissions the Company charges for transactions off-platform derived from use of the Company’s payment solution, 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, Mercado Pago credit and debit card fees and insurtech fees. (d)Includes interest earned on loans and advances granted to merchants and consumers, and interest earned on Mercado Pago credit card transactions. (e)Includes sales of mobile point of sales devices.
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| Allocation of Property and Equipment Based on Geography | The following table summarizes the allocation of property and equipment, net based on geography:
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| 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:
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| Allocation of Goodwill and Intangible Assets Based on Geography | The following table summarizes the allocation of the goodwill and intangible assets based on geography:
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| X | ||||||||||
- Definition Entity wide disclosure on geographic areas goodwill and intangible assets. No definition available.
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| X | ||||||||||
- Definition Schedule Of Disclosure On Geographic Areas, Operating Lease Right Of Use Assets In Individual Foreign Countries By Country No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Tabular disclosure of the names of foreign countries in which material long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets are located, and amount of such long-lived assets located in that country or foreign geographic area. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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Fair value measurement of assets and liabilities (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022:
(1)Measured at fair value with impact on the statement of income for the application of the fair value option. (See Note 2 – Fair value option applied to certain financial instruments). (2)As of September 30, 2023 and December 31, 2022 includes $25 million and $21 million, respectively, of investments from securitization transactions that are restricted to the payment of amounts due to third-party investors. (See Note 5 - Cash, cash equivalents, restricted cash and cash equivalents and investments). (3)As of September 30, 2023 and December 31, 2022 includes $193 million and $314 million, respectively, of money market funds from securitization transactions. (See Note 5 - Cash, cash equivalents, restricted cash and cash equivalents and investments).
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| Summary of Reconciliation of Financial Liabilities Valuated at Fair Value | The following table summarizes the reconciliation of the financial liabilities measured at fair value using Level 3 inputs as of December 31, 2022:
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| Fair Value of Financial Assets and Liabilities Measured at Amortized Cost | The following table summarizes the estimated fair value of the financial assets and liabilities of the Company not measured at fair value as of September 30, 2023 and December 31, 2022:
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- Definition Schedule of company's financial assets and liabilities. No definition available.
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Long term retention program ("LTRP") (Tables) |
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| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long Term Retention Program Accrued Compensation Expense | The following table summarizes the long term retention program accrued compensation expense for the nine and three-month periods ended September 30, 2023 and 2022, which are payable in cash according to the decisions made by the Board of Directors (the “Board”):
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- Definition Long term retention plan accrued compensation expense. No definition available.
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- References No definition available.
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Loans payable and other financial liabilities (Tables) |
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Sep. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Loans Payable and Other Financial Liabilities | The following tables summarize the Company’s Loans payable and other financial liabilities as of September 30, 2023 and December 31, 2022:
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
|
Securitization Transactions (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Securitization Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Collateralized Debt | The following table summarizes the Company’s collateralized debt under securitization transactions, as of September 30, 2023:
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| Assets and Liabilities of the Trust | The assets and liabilities of the SPEs are included in the Company’s unaudited interim condensed consolidated financial statements as of September 30, 2023 and December 31, 2022 as follows:
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| X | ||||||||||
- Definition Collateralized Debt [Table Text Block] No definition available.
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| X | ||||||||||
- Definition Securitization Transactions [Abstract] No definition available.
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| X | ||||||||||
- Definition Securitization Transactions, Balance Sheet [Table Text Block] No definition available.
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Leases (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases was as follows:
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| Summary of Weighted Average Remaining Lease Term and Discount Rate | The following table summarizes the weighted average remaining lease term and the weighted average incremental borrowing rate for operating leases and the weighted average discount rate for finance leases as of September 30, 2023 and December 31, 2022:
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| Components of Lease Expense | The components of lease expense were as follows:
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| Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases was as follows:
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| Maturities of Lease Liabilities | The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted by the Company’s incremental borrowing rates to calculate the lease liabilities for the operating and finance leases:
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| X | ||||||||||
- Definition Operating And Finance Lease, Liability, Maturity [Table Text Block] No definition available.
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| X | ||||||||||
- Definition Summary Of Weighted Average Remaining Lease Term And Discount Rate [Table Text Block] No definition available.
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| X | ||||||||||
- Definition Supplemental Balance Sheet Information Related To Leases [Table Text Block] No definition available.
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| X | ||||||||||
- Definition Supplemental Cash Flow Information Related To Leases [Table Text Block] No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- References No definition available.
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Derivative instruments (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Notional Amounts | The following table presents the notional amounts of the Company’s outstanding derivative instruments:
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| Summary of Outstanding Derivative Instruments | The fair values of the Company’s outstanding derivative instruments as of September 30, 2023 and December 31, 2022 were as follows:
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| Effect of Derivative Contracts on Comprehensive Income | The effects of derivative contracts on the unaudited interim condensed consolidated statement of comprehensive income as of September 30, 2023 were as follows:
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| Effect of Derivative Contracts on Income Statement | The effects of derivative contracts not designated as hedging instruments on the unaudited interim condensed consolidated statements of income for the nine and three-month periods ended September 30, 2023 and 2022 were as follows:
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| X | ||||||||||
- Definition Schedule Of Derivative Instruments, Effect On Comprehensive Income No definition available.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Summary of significant accounting policies - Narrative (Details) $ / shares in Units, $ in Millions |
3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
|
Sep. 30, 2023
USD ($)
$ / shares
|
Sep. 30, 2022
USD ($)
$ / shares
|
Sep. 30, 2023
USD ($)
$ / shares
|
Sep. 30, 2022
USD ($)
$ / shares
|
Dec. 31, 2022
USD ($)
|
|
| Significant Accounting Policies [Line Items] | |||||
| Long-lived assets, intangible assets and goodwill located in the foreign operations | $ 2,046 | $ 2,046 | $ 1,817 | ||
| Aggregate gain included in net revenues arising from financing transactions, net of the costs recognized on sale of credit card receivables, | 379 | $ 261 | 1,055 | $ 751 | |
| Allowance for doubtful accounts, loan receivables and chargebacks | 35 | 35 | 25 | ||
| Deferred revenue | 34 | 34 | 44 | ||
| Deferred revenue, revenue recognized | 29 | ||||
| Income tax benefit | (172) | (69) | (504) | (154) | |
| Supplier finance program | 302 | 302 | $ 227 | ||
| Subsidiary, DeRemate.com de Mexico, S. de R.L. de C.V | |||||
| Significant Accounting Policies [Line Items] | |||||
| Valuation allowance on deferred tax assets | 141 | 141 | |||
| Secretariat Of Knowledge Economy Resolution Issued | |||||
| Significant Accounting Policies [Line Items] | |||||
| Income tax benefit | $ 14 | $ 15 | $ 35 | $ 19 | |
| Aggregate per share effect of the Argentine tax holiday (in dollars per share) | $ / shares | $ 0.27 | $ 0.30 | $ 0.69 | $ 0.38 | |
| Social security benefit | $ 16 | $ 13 | $ 49 | $ 39 | |
| Argentina | |||||
| Significant Accounting Policies [Line Items] | |||||
| Quarterly inflation rate | 1.032 | 0.661 | |||
| Foreign exchange rate | 349.95 | 349.95 | 177.16 | ||
| Quarterly depreciation | 0.975 | 0.434 | |||
| Spread of exchange rate | 1.350 | 1.350 | 0.942 | ||
| X | ||||||||||
- Definition Aggregate gain included in net revenues arising from financing transactions, net of the costs recognized on sale of credit card receivables No definition available.
|
| X | ||||||||||
- Definition Allowance For Doubtful Accounts, Loan Receivables And Chargebacks No definition available.
|
| X | ||||||||||
- Definition Other countries long lived tangible and intangible assets. No definition available.
|
| X | ||||||||||
- Definition Quarterly Depreciation of Local Currency No definition available.
|
| X | ||||||||||
- Definition Quarterly Inflation Rate No definition available.
|
| X | ||||||||||
- Definition Significant accounting policies. No definition available.
|
| X | ||||||||||
- Definition Social Security Benefit No definition available.
|
| X | ||||||||||
- Definition Spread Of Implicit Exchange Rate No definition available.
|
| X | ||||||||||
- Definition Supplier Finance Program, Amount No definition available.
|
| X | ||||||||||
- Definition Amount of revenue recognized that was previously included in balance of obligation to transfer good or service to customer for which consideration from customer has been received or is due. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of deferred income and obligation to transfer product and service to customer for which consideration has been received or is receivable. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition Foreign exchange rate used to translate amounts denominated in functional currency to reporting currency. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Per share amount effect of the income tax benefit resulting from the income tax holidays granted by taxing jurisdictions. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Summary of significant accounting policies - Assets, Liabilities and Net Assets of Company's Argentinean Subsidiaries (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Subsidiary or Equity Method Investee [Line Items] | ||
| Assets | $ 16,124 | $ 13,736 |
| Liabilities | 13,383 | 11,909 |
| Argentinean Subsidiaries | ||
| Subsidiary or Equity Method Investee [Line Items] | ||
| Assets | 3,936 | 3,238 |
| Liabilities | 2,601 | 2,419 |
| Net assets | $ 1,335 | $ 819 |
| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition Amount of net assets (liabilities). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
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Summary of significant accounting policies - Net Revenues and Net Income before Income Tax of Company's Argentenian Subsidiaries (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| Subsidiary or Equity Method Investee [Line Items] | ||||
| Net revenues | $ 3,760 | $ 2,690 | $ 10,212 | $ 7,535 |
| Direct contribution | 1,129 | 600 | 2,874 | 1,572 |
| Argentinean Subsidiaries | ||||
| Subsidiary or Equity Method Investee [Line Items] | ||||
| Net revenues | 825 | 675 | 2,317 | 1,787 |
| Direct contribution | $ 384 | $ 299 | $ 1,028 | $ 719 |
| X | ||||||||||
- Definition Direct contribution. No definition available.
|
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
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Net income per share - Narrative (Details) - Convertible Senior Notes - 2028 Notes $ in Millions |
Aug. 31, 2018
USD ($)
|
|---|---|
| Debt Instrument [Line Items] | |
| Convertible senior notes, issued | $ 880 |
| Convertible senior notes, interest rate | 2.00% |
| X | ||||||||||
- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Net income per share - Net Income Per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 9 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Sep. 30, 2022 |
Jun. 30, 2022 |
Mar. 31, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| Net income attributable to MercadoLibre, Inc. per common share | ||||||||
| Net income per common share, Basic (in dollars per share) | $ 7.18 | $ 2.57 | $ 16.40 | $ 6.30 | ||||
| Net income per common share, Diluted (in dollars per share) | $ 7.16 | $ 2.56 | $ 16.36 | $ 6.29 | ||||
| Numerator: | ||||||||
| Net income | $ 359 | $ 262 | $ 201 | $ 129 | $ 123 | $ 65 | $ 822 | $ 317 |
| Effect of Dilutive Convertible Senior Notes | 0 | 2 | 1 | 6 | ||||
| Net income corresponding to common stock, Basic | 359 | 129 | 822 | 317 | ||||
| Net income corresponding to common stock, Diluted | $ 359 | $ 131 | $ 823 | $ 323 | ||||
| Denominator: | ||||||||
| Weighted average of outstanding common shares, Basic (in shares) | 50,008,320 | 50,325,075 | 50,137,826 | 50,365,813 | ||||
| Adjustment for assumed conversions, Diluted (in shares) | 201,119 | 990,268 | 201,119 | 990,268 | ||||
| Weighted average of outstanding common shares, Diluted (in shares) | 50,209,439 | 51,315,343 | 50,338,945 | 51,356,081 | ||||
| X | ||||||||||
- Definition Effect Of Dilutive Convertible Senior Notes No definition available.
|
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- Definition Net income per share of common stock. No definition available.
|
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of convertible debt securities using the if-converted method. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Cash, cash equivalents, restricted cash and cash equivalents and investments - Components of Cash, Cash Equivalents, Restricted Cash and Cash Equivalents and Investments (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
Sep. 30, 2022 |
Dec. 31, 2021 |
|---|---|---|---|---|
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Cash and cash equivalents | $ 2,171 | $ 1,910 | ||
| Restricted cash and cash equivalents | 1,085 | 1,453 | ||
| Total cash, cash equivalents, restricted cash and cash equivalents | 3,256 | 3,363 | $ 2,528 | $ 3,648 |
| Short-term investments | 3,320 | 2,339 | ||
| Long-term investments | 149 | 322 | ||
| Cash in bank accounts | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Cash and cash equivalents | 1,238 | 1,160 | ||
| Cash in bank accounts | Argentina | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 413 | 496 | ||
| Cash in bank accounts | Mexico | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 38 | 9 | ||
| Cash in bank accounts | Chile | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 27 | 4 | ||
| Cash in bank accounts | Columbia | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 0 | 1 | ||
| Money market | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Cash and cash equivalents | 764 | 599 | ||
| Restricted cash and cash equivalents | 26 | 33 | ||
| Money market | Columbia | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 0 | 5 | ||
| Time deposits | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Cash and cash equivalents | 169 | 130 | ||
| Time deposits | Mexico | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 264 | 239 | ||
| Time deposits | Chile | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 36 | 49 | ||
| U.S. government debt securities | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Cash and cash equivalents | 0 | 21 | ||
| Foreign government debt securities (Central Bank of Brazil mandatory guarantee) | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 0 | 158 | ||
| Securitization transactions | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 281 | 459 | ||
| U.S. government debt securities | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Short-term investments | 1,124 | 558 | ||
| Long-term investments | 0 | 175 | ||
| Foreign government debt securities (Central Bank of Brazil mandatory guarantee) | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Short-term investments | 1,762 | 1,219 | ||
| Foreign government debt securities | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Short-term investments | 94 | 123 | ||
| Long-term investments | 67 | 70 | ||
| Foreign government debt securities | Guarantee of line of credit | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Short-term investments | 6 | |||
| Foreign government debt securities | Pending approvals | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Long-term investments | 15 | |||
| Time deposits | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Short-term investments | 326 | 439 | ||
| Securitization transactions | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Short-term investments | 1 | 0 | ||
| Long-term investments | 24 | 21 | ||
| Equity securities at fair value | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Short-term investments | 13 | 0 | ||
| Equity securities held at cost | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Long-term investments | $ 58 | $ 56 |
| X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
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- Definition Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Loans receivable, net - Schedule of Loans Receivable, Net (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
Sep. 30, 2022 |
Dec. 31, 2021 |
|---|---|---|---|---|
| Loans and Leases Receivable Disclosure [Line Items] | ||||
| Loans receivable | $ 3,402 | $ 2,840 | ||
| Allowance for doubtful accounts | (1,024) | (1,104) | $ (1,008) | $ (435) |
| Loans receivable, net | 2,378 | 1,736 | ||
| On-line merchant | ||||
| Loans and Leases Receivable Disclosure [Line Items] | ||||
| Loans receivable | 418 | 394 | ||
| Allowance for doubtful accounts | (120) | (120) | (112) | (79) |
| Loans receivable, net | 298 | 274 | ||
| Consumer | ||||
| Loans and Leases Receivable Disclosure [Line Items] | ||||
| Loans receivable | 1,827 | 1,568 | ||
| Allowance for doubtful accounts | (573) | (614) | (537) | (232) |
| Loans receivable, net | 1,254 | 954 | ||
| In-store merchant | ||||
| Loans and Leases Receivable Disclosure [Line Items] | ||||
| Loans receivable | 294 | 267 | ||
| Allowance for doubtful accounts | (127) | (145) | $ (136) | $ (76) |
| Loans receivable, net | 167 | 122 | ||
| Credit cards | ||||
| Loans and Leases Receivable Disclosure [Line Items] | ||||
| Loans receivable | 863 | 611 | ||
| Allowance for doubtful accounts | (204) | (225) | ||
| Loans receivable, net | $ 659 | $ 386 |
| X | ||||||||||
- Definition Amount excluding accrued interest, of allowance for credit loss on financing receivable. Excludes net investment in lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amortized cost excluding accrued interest, after allowance for credit loss, of financing receivable. Excludes net investment in lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amortized cost excluding accrued interest, before allowance for credit loss, of financing receivable. Excludes net investment in lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Loans receivable, net - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | |
|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2023 |
Dec. 31, 2022 |
|
| Receivables [Abstract] | |||
| Allowance for doubtful accounts | $ 1,038 | $ 1,038 | $ 1,112 |
| Unused agreed loan commitment | 14 | 14 | $ 8 |
| Expected credit losses | $ 2 | $ 5 |
| X | ||||||||||
- Definition Amount of allowance for credit loss on accounts receivable. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
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- Definition Amount of expense (reversal of expense) for expected credit loss for off-balance sheet credit exposure. Excludes off-balance sheet credit exposure accounted for as insurance and instrument accounted for under derivatives and hedging. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- References No definition available.
|
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- Definition Unused amount of commitments to extend credit to customers. No definition available.
|
Loans receivable, net - Schedule of Credit Quality Analysis of Loans Receivables (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Financing Receivable, Past Due [Line Items] | ||
| Total | $ 3,402 | $ 2,840 |
| 1-30 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 183 | 118 |
| 31-60 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 98 | 88 |
| 61-90 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 78 | 86 |
| 91-120 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 83 | 103 |
| 121-150 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 81 | 110 |
| 151-180 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 73 | 112 |
| 181-210 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 69 | 100 |
| 211-240 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 74 | 93 |
| 241-270 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 71 | 89 |
| 271-300 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 72 | 73 |
| 301-330 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 82 | 85 |
| 331-360 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 84 | 75 |
| Total past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | 1,048 | 1,132 |
| To become due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Total | $ 2,354 | $ 1,708 |
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
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Loans receivable, net - Summary of Allowance for Uncollectible Accounts Activity (Details) - USD ($) $ in Millions |
9 Months Ended | |
|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward] | ||
| Balance at beginning of year | $ 1,104 | $ 435 |
| Net charged to Net Income | 731 | 842 |
| Currency translation adjustments | 22 | (33) |
| Utilized/Write-offs | (833) | (236) |
| Balance at end of period | 1,024 | 1,008 |
| On-line merchant | ||
| Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward] | ||
| Balance at beginning of year | 120 | 79 |
| Net charged to Net Income | 81 | 83 |
| Currency translation adjustments | 3 | (2) |
| Utilized/Write-offs | (84) | (48) |
| Balance at end of period | 120 | 112 |
| Consumer | ||
| Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward] | ||
| Balance at beginning of year | 614 | 232 |
| Net charged to Net Income | 417 | 457 |
| Currency translation adjustments | 9 | (19) |
| Utilized/Write-offs | (467) | (133) |
| Balance at end of period | 573 | 537 |
| In-store merchant | ||
| Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward] | ||
| Balance at beginning of year | 145 | 76 |
| Net charged to Net Income | 93 | 111 |
| Currency translation adjustments | 0 | (3) |
| Utilized/Write-offs | (111) | (48) |
| Balance at end of period | 127 | 136 |
| Credit Card | ||
| Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward] | ||
| Balance at beginning of year | 225 | 48 |
| Net charged to Net Income | 140 | 191 |
| Currency translation adjustments | 10 | (9) |
| Utilized/Write-offs | (171) | (7) |
| Balance at end of period | $ 204 | $ 223 |
| X | ||||||||||
- Definition Financing Receivable, Allowance for Credit Loss, Charged/Credit To Net (Loss) Income No definition available.
|
| X | ||||||||||
- Definition Financing Receivable Allowance For Credit Losses, Charges, Utilized, Currency Translation, Adjustments, And WriteOffs No definition available.
|
| X | ||||||||||
- Definition Amount excluding accrued interest, of allowance for credit loss on financing receivable. Excludes net investment in lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition Amount, excluding accrued interest, of decrease in allowance for credit loss on financing receivable from writeoff. Excludes net investment in lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Goodwill and intangible assets - Composition of Goodwill and Intangible Assets (Details) - USD ($) $ in Millions |
9 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Goodwill | $ 159 | $ 153 | $ 148 | |
| Total intangible assets | 62 | 61 | ||
| Accumulated amortization | (41) | (36) | ||
| Total intangible assets, net | 21 | 25 | ||
| Impairment of digital assets | 0 | $ 11 | ||
| Licenses and Others | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Amortizable intangible assets | 14 | 13 | ||
| Non-Compete Agreement | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Amortizable intangible assets | 4 | 4 | ||
| Customer Lists | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Amortizable intangible assets | 12 | 12 | ||
| Trademarks | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Amortizable intangible assets | 13 | 12 | ||
| Hub Network | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Amortizable intangible assets | 4 | 4 | ||
| Other Intangible Assets | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Amortizable intangible assets | 3 | 3 | ||
| Trademarks | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Intangible assets with indefinite lives | 3 | 4 | ||
| Digital Assets | ||||
| Indefinite-lived Intangible Assets [Line Items] | ||||
| Intangible assets with indefinite lives | 9 | 9 | ||
| Impairment of digital assets | $ 21 | $ 21 | ||
| X | ||||||||||
- Definition Intangible assets and goodwill gross. No definition available.
|
| X | ||||||||||
- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of impairment loss resulting from write-down of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit to fair value. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
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Goodwill and intangible assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Millions |
9 Months Ended | 12 Months Ended |
|---|---|---|
Sep. 30, 2023 |
Dec. 31, 2022 |
|
| Goodwill [Roll Forward] | ||
| Balance, beginning of the period | $ 153 | $ 148 |
| Effect of exchange rates changes | 6 | 5 |
| Balance, end of the period | 159 | 153 |
| Brazil | ||
| Goodwill [Roll Forward] | ||
| Balance, beginning of the period | 60 | 56 |
| Effect of exchange rates changes | 2 | 4 |
| Balance, end of the period | 62 | 60 |
| Argentina | ||
| Goodwill [Roll Forward] | ||
| Balance, beginning of the period | 10 | 10 |
| Effect of exchange rates changes | 0 | 0 |
| Balance, end of the period | 10 | 10 |
| Mexico | ||
| Goodwill [Roll Forward] | ||
| Balance, beginning of the period | 39 | 37 |
| Effect of exchange rates changes | 5 | 2 |
| Balance, end of the period | 44 | 39 |
| Chile | ||
| Goodwill [Roll Forward] | ||
| Balance, beginning of the period | 37 | 37 |
| Effect of exchange rates changes | (2) | 0 |
| Balance, end of the period | 35 | 37 |
| Colombia | ||
| Goodwill [Roll Forward] | ||
| Balance, beginning of the period | 5 | 6 |
| Effect of exchange rates changes | 1 | (1) |
| Balance, end of the period | 6 | 5 |
| Other countries | ||
| Goodwill [Roll Forward] | ||
| Balance, beginning of the period | 2 | 2 |
| Effect of exchange rates changes | 0 | 0 |
| Balance, end of the period | $ 2 | $ 2 |
| X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of foreign currency translation gain (loss) which increases (decreases) an asset representing future economic benefits from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Details
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Goodwill and intangible assets - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| Goodwill and Intangible Assets Disclosure [Abstract] | ||||
| Aggregate amortization expense for intangible assets | $ 1 | $ 1 | $ 4 | $ 4 |
| X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
Goodwill and intangible assets - Expected Intangible Asset Amortization Expense (Details) $ in Millions |
Sep. 30, 2023
USD ($)
|
|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| For year to be ended December 31, 2023 | $ 1 |
| For year to be ended December 31, 2024 | 3 |
| For year to be ended December 31, 2025 | 1 |
| For year to be ended December 31, 2026 | 1 |
| Thereafter | 3 |
| Total remaining amortization of intangible assets | $ 9 |
| X | ||||||||||
- Definition Finite Lived Intangible Assets Amortization Expense After Year Four No definition available.
|
| X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in remainder of current fiscal year. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
Segment reporting - Financial Performance of Company's Reporting Segments (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| Segment Reporting Information [Line Items] | ||||
| Net revenues | $ 3,760 | $ 2,690 | $ 10,212 | $ 7,535 |
| Direct costs | (2,631) | (2,090) | (7,338) | (5,963) |
| Direct contribution | 1,129 | 600 | 2,874 | 1,572 |
| Operating expenses and indirect costs of net revenues | (444) | (304) | (1,291) | (887) |
| Income from operations | 685 | 296 | 1,583 | 685 |
| Other income (expenses): | ||||
| Interest income and other financial gains | 196 | 65 | 545 | 142 |
| Interest expense and other financial losses | (111) | (92) | (297) | (221) |
| Foreign currency losses, net | (239) | (71) | (508) | (134) |
| Net income before income tax expense and equity in earnings of unconsolidated entity | 531 | 198 | 1,323 | 472 |
| Operating Segments | Brazil | ||||
| Segment Reporting Information [Line Items] | ||||
| Net revenues | 2,006 | 1,431 | 5,365 | 4,134 |
| Direct costs | (1,435) | (1,209) | (4,027) | (3,472) |
| Direct contribution | 571 | 222 | 1,338 | 662 |
| Operating Segments | Argentina | ||||
| Segment Reporting Information [Line Items] | ||||
| Net revenues | 825 | 675 | 2,317 | 1,787 |
| Direct costs | (441) | (376) | (1,289) | (1,068) |
| Direct contribution | 384 | 299 | 1,028 | 719 |
| Operating Segments | Mexico | ||||
| Segment Reporting Information [Line Items] | ||||
| Net revenues | 772 | 465 | 2,066 | 1,257 |
| Direct costs | (605) | (384) | (1,593) | (1,075) |
| Direct contribution | 167 | 81 | 473 | 182 |
| Operating Segments | Other Countries | ||||
| Segment Reporting Information [Line Items] | ||||
| Net revenues | 157 | 119 | 464 | 357 |
| Direct costs | (150) | (121) | (429) | (348) |
| Direct contribution | $ 7 | $ (2) | $ 35 | $ 9 |
| X | ||||||||||
- Definition Direct contribution. No definition available.
|
| X | ||||||||||
- Definition Interest expense and other financial charges. No definition available.
|
| X | ||||||||||
- Definition Operating expenses and indirect costs of net revenues. No definition available.
|
| X | ||||||||||
- Definition The aggregate direct operating costs incurred during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount, before tax, of realized and unrealized gain (loss) from foreign currency transaction. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
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Segment reporting - Consolidated Net Revenues by Similar Products and Services (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | $ 3,760 | $ 2,690 | $ 10,212 | $ 7,535 |
| Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 2,128 | 1,465 | 5,740 | 4,147 |
| Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 1,632 | 1,225 | 4,472 | 3,388 |
| Services | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 1,796 | 1,223 | 4,795 | 3,415 |
| Services | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 951 | 672 | 2,634 | 1,878 |
| Products Sales | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 332 | 242 | 945 | 732 |
| Products Sales | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 9 | 11 | 34 | 37 |
| Credit Revenues | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 672 | 542 | 1,804 | 1,473 |
| Operating Segments | Brazil | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 2,006 | 1,431 | 5,365 | 4,134 |
| Operating Segments | Brazil | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 1,211 | 780 | 3,167 | 2,221 |
| Operating Segments | Brazil | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 795 | 651 | 2,198 | 1,913 |
| Operating Segments | Brazil | Services | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 1,007 | 669 | 2,615 | 1,877 |
| Operating Segments | Brazil | Services | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 487 | 357 | 1,375 | 1,059 |
| Operating Segments | Brazil | Products Sales | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 204 | 111 | 552 | 344 |
| Operating Segments | Brazil | Products Sales | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 4 | 7 | 15 | 21 |
| Operating Segments | Brazil | Credit Revenues | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 304 | 287 | 808 | 833 |
| Operating Segments | Argentina | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 825 | 675 | 2,317 | 1,787 |
| Operating Segments | Argentina | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 310 | 290 | 885 | 800 |
| Operating Segments | Argentina | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 515 | 385 | 1,432 | 987 |
| Operating Segments | Argentina | Services | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 260 | 221 | 727 | 602 |
| Operating Segments | Argentina | Services | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 344 | 245 | 927 | 636 |
| Operating Segments | Argentina | Products Sales | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 50 | 69 | 158 | 198 |
| Operating Segments | Argentina | Products Sales | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 0 | 1 | 3 | 4 |
| Operating Segments | Argentina | Credit Revenues | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 171 | 139 | 502 | 347 |
| Operating Segments | Mexico | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 772 | 465 | 2,066 | 1,257 |
| Operating Segments | Mexico | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 499 | 311 | 1,372 | 863 |
| Operating Segments | Mexico | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 273 | 154 | 694 | 394 |
| Operating Segments | Mexico | Services | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 429 | 257 | 1,160 | 702 |
| Operating Segments | Mexico | Services | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 75 | 38 | 198 | 97 |
| Operating Segments | Mexico | Products Sales | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 70 | 54 | 212 | 161 |
| Operating Segments | Mexico | Products Sales | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 3 | 1 | 7 | 6 |
| Operating Segments | Mexico | Credit Revenues | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 195 | 115 | 489 | 291 |
| Operating Segments | Other Countries | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 157 | 119 | 464 | 357 |
| Operating Segments | Other Countries | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 108 | 84 | 316 | 263 |
| Operating Segments | Other Countries | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 49 | 35 | 148 | 94 |
| Operating Segments | Other Countries | Services | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 100 | 76 | 293 | 234 |
| Operating Segments | Other Countries | Services | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 45 | 32 | 134 | 86 |
| Operating Segments | Other Countries | Products Sales | Commerce | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 8 | 8 | 23 | 29 |
| Operating Segments | Other Countries | Products Sales | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | 2 | 2 | 9 | 6 |
| Operating Segments | Other Countries | Credit Revenues | Fintech | ||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||||
| Net revenues | $ 2 | $ 1 | $ 5 | $ 2 |
| X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Segment reporting - Allocation of Property and Equipment Based on Geography (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | $ 1,081 | $ 993 |
| US | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | 2 | 1 |
| Argentina | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | 199 | 188 |
| Brazil | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | 527 | 514 |
| Mexico | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | 267 | 206 |
| Other countries | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | 86 | 84 |
| Total Other Countries | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | $ 1,079 | $ 992 |
| X | ||||||||||
- Definition Amount, after accumulated depreciation and amortization, of property, plant, and equipment and finance lease right-of-use asset. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Segment reporting - Schedule of Operating Lease Right of Use Assets Based on Geography (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | $ 796 | $ 656 |
| Operating Segments | ||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | 796 | 656 |
| Argentina | Operating Segments | ||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | 49 | 53 |
| Brazil | Operating Segments | ||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | 349 | 286 |
| Mexico | Operating Segments | ||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | 330 | 245 |
| Other countries | Operating Segments | ||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | $ 68 | $ 72 |
| X | ||||||||||
- Definition Amount of lessee's right to use underlying asset under operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Segment reporting - Allocation of Goodwill and Intangible Assets Based on Geography (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total goodwill and intangible assets, net | $ 180 | $ 178 |
| US | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total goodwill and intangible assets, net | 9 | 9 |
| Argentina | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total goodwill and intangible assets, net | 13 | 14 |
| Brazil | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total goodwill and intangible assets, net | 66 | 63 |
| Mexico | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total goodwill and intangible assets, net | 44 | 40 |
| Other countries | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total goodwill and intangible assets, net | 48 | 52 |
| Total Other Countries | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total goodwill and intangible assets, net | $ 171 | $ 169 |
| X | ||||||||||
- Definition Carrying amount of finite-lived intangible assets, indefinite-lived intangible assets and goodwill. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets are assets, not including financial assets, lacking physical substance. No definition available.
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Fair value measurement of assets and liabilities - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
| Money market | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Money markets from securitization transactions | $ 193 | $ 314 |
| Securitization transactions | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Amount due to third-party investors | 25 | 21 |
| Fair Value, Measurements, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total Financial Assets | 4,105 | 3,315 |
| Long-term retention plan | 74 | 58 |
| Contingent considerations | 0 | 8 |
| Derivative Instruments | 18 | 24 |
| Customer crypto-assets safeguarding liabilities | 21 | 15 |
| Total Financial Liabilities | 113 | 105 |
| Fair Value, Measurements, Recurring | Derivative Instruments | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 16 | 1 |
| Fair Value, Measurements, Recurring | USDC | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 0 | 3 |
| Fair Value, Measurements, Recurring | Customer crypto-assets safeguarding assets | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 21 | 15 |
| Fair Value, Measurements, Recurring | Quoted Prices in active markets for identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total Financial Assets | 4,068 | 3,299 |
| Long-term retention plan | 0 | 0 |
| Contingent considerations | 0 | 0 |
| Derivative Instruments | 0 | 0 |
| Customer crypto-assets safeguarding liabilities | 0 | 0 |
| Total Financial Liabilities | 0 | 0 |
| Fair Value, Measurements, Recurring | Quoted Prices in active markets for identical Assets (Level 1) | Derivative Instruments | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 0 | 0 |
| Fair Value, Measurements, Recurring | Quoted Prices in active markets for identical Assets (Level 1) | USDC | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 0 | 3 |
| Fair Value, Measurements, Recurring | Quoted Prices in active markets for identical Assets (Level 1) | Customer crypto-assets safeguarding assets | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 0 | 0 |
| Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total Financial Assets | 37 | 16 |
| Long-term retention plan | 74 | 58 |
| Contingent considerations | 0 | 0 |
| Derivative Instruments | 18 | 24 |
| Customer crypto-assets safeguarding liabilities | 21 | 15 |
| Total Financial Liabilities | 113 | 97 |
| Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Derivative Instruments | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 16 | 1 |
| Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | USDC | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 0 | 0 |
| Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Customer crypto-assets safeguarding assets | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 21 | 15 |
| Fair Value, Measurements, Recurring | Unobservable inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total Financial Assets | 0 | 0 |
| Long-term retention plan | 0 | 0 |
| Contingent considerations | 0 | 8 |
| Derivative Instruments | 0 | 0 |
| Customer crypto-assets safeguarding liabilities | 0 | 0 |
| Total Financial Liabilities | 0 | 8 |
| Fair Value, Measurements, Recurring | Unobservable inputs (Level 3) | Derivative Instruments | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 0 | 0 |
| Fair Value, Measurements, Recurring | Unobservable inputs (Level 3) | USDC | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 0 | 0 |
| Fair Value, Measurements, Recurring | Unobservable inputs (Level 3) | Customer crypto-assets safeguarding assets | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 0 | 0 |
| Fair Value, Measurements, Recurring | Money market | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash and Cash Equivalents | 764 | 599 |
| Restricted Cash and cash equivalents | 219 | 352 |
| Fair Value, Measurements, Recurring | Money market | Quoted Prices in active markets for identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash and Cash Equivalents | 764 | 599 |
| Restricted Cash and cash equivalents | 219 | 352 |
| Fair Value, Measurements, Recurring | Money market | Significant other observable inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash and Cash Equivalents | 0 | 0 |
| Restricted Cash and cash equivalents | 0 | 0 |
| Fair Value, Measurements, Recurring | Money market | Unobservable inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash and Cash Equivalents | 0 | 0 |
| Restricted Cash and cash equivalents | 0 | 0 |
| Fair Value, Measurements, Recurring | U.S. government debt securities | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash and Cash Equivalents | 0 | 21 |
| Investments | 1,124 | 733 |
| Fair Value, Measurements, Recurring | U.S. government debt securities | Quoted Prices in active markets for identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash and Cash Equivalents | 0 | 21 |
| Investments | 1,124 | 733 |
| Fair Value, Measurements, Recurring | U.S. government debt securities | Significant other observable inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash and Cash Equivalents | 0 | 0 |
| Investments | 0 | 0 |
| Fair Value, Measurements, Recurring | U.S. government debt securities | Unobservable inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash and Cash Equivalents | 0 | 0 |
| Investments | 0 | 0 |
| Fair Value, Measurements, Recurring | Foreign government debt securities | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Investments | 186 | 214 |
| Fair Value, Measurements, Recurring | Foreign government debt securities | Quoted Prices in active markets for identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Investments | 186 | 214 |
| Fair Value, Measurements, Recurring | Foreign government debt securities | Significant other observable inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Investments | 0 | 0 |
| Fair Value, Measurements, Recurring | Foreign government debt securities | Unobservable inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Investments | 0 | 0 |
| Fair Value, Measurements, Recurring | Foreign government debt securities (Central Bank of Brazil mandatory guarantee) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Restricted Cash and cash equivalents | 0 | 158 |
| Investments | 1,762 | 1,219 |
| Fair Value, Measurements, Recurring | Foreign government debt securities (Central Bank of Brazil mandatory guarantee) | Quoted Prices in active markets for identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Restricted Cash and cash equivalents | 0 | 158 |
| Investments | 1,762 | 1,219 |
| Fair Value, Measurements, Recurring | Foreign government debt securities (Central Bank of Brazil mandatory guarantee) | Significant other observable inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Restricted Cash and cash equivalents | 0 | 0 |
| Investments | 0 | 0 |
| Fair Value, Measurements, Recurring | Foreign government debt securities (Central Bank of Brazil mandatory guarantee) | Unobservable inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Restricted Cash and cash equivalents | 0 | 0 |
| Investments | 0 | 0 |
| Fair Value, Measurements, Recurring | Equity securities at fair value | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Investments | 13 | 0 |
| Fair Value, Measurements, Recurring | Equity securities at fair value | Quoted Prices in active markets for identical Assets (Level 1) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Investments | 13 | 0 |
| Fair Value, Measurements, Recurring | Equity securities at fair value | Significant other observable inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Investments | 0 | 0 |
| Fair Value, Measurements, Recurring | Equity securities at fair value | Unobservable inputs (Level 3) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Investments | $ 0 | $ 0 |
| X | ||||||||||
- Definition Contingent Consideration, Fair Value Disclosure No definition available.
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| X | ||||||||||
- Definition Customer Crypto-Assets Safeguarding Liabilities, Fair Value Disclosure No definition available.
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- Definition Total financial assets. No definition available.
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- Definition Long-Term Retention Plan, Fair Value Disclosure No definition available.
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- Definition Restricted Cash And Cash Equivalents Fair Value Disclosure No definition available.
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- Definition Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. No definition available.
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- Definition Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid Investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Short-term investments, exclusive of cash equivalents, generally consist of marketable securities intended to be sold within one year (or the normal operating cycle if longer) and may include trading securities, available-for-sale securities, or held-to-maturity securities (if maturing within one year), as applicable. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Represents the aggregate of total long-term debt, including current maturities and short-term debt. No definition available.
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- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Indicates line item in statement of financial position that includes derivative liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Fair value of financial obligations, including, but not limited to, debt instruments, derivative liabilities, federal funds purchased and sold under agreements to repurchase, securities loaned or sold under agreements to repurchase, financial instruments sold not yet purchased, guarantees, line of credit, loans and notes payable, servicing liability, and trading liabilities. No definition available.
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- Definition Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Fair value portion of other assets. No definition available.
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Fair value measurement of assets and liabilities - Summary of Reconciliation of Financial Liabilities Valuated at Fair Value (Details) $ in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2022
USD ($)
| |
| Derivative Instruments, net | |
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
| Balance, beginning of the year | $ 11 |
| Net Additions | 3 |
| Settlements | 7 |
| Foreign Currency Translation | (5) |
| Gain (Losses) in Other Comprehensive Income | (15) |
| Gain (Losses) on Income Statement | (28) |
| Transfers out of level 3 to level 2 | 27 |
| Balance, end of the year | 0 |
| Contingent Considerations | |
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
| Balance, beginning of the year | (9) |
| Net Additions | 0 |
| Settlements | 1 |
| Foreign Currency Translation | 0 |
| Gain (Losses) in Other Comprehensive Income | 0 |
| Gain (Losses) on Income Statement | 0 |
| Transfers out of level 3 to level 2 | 0 |
| Balance, end of the year | $ (8) |
| X | ||||||||||
- Definition Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Foreign Currency Translation No definition available.
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount of gain (loss) recognized in income from derivative asset (liability) after deduction of derivative liability (asset), measured at fair value on recurring basis using unobservable input (level 3). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) recognized in other comprehensive income from derivative asset (liability) after deduction of derivative liability (asset), measured at fair value on recurring basis using unobservable input (level 3). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of purchases of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset), measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of settlements of financial instrument classified as a derivative asset (liability) after deduction of derivative liability, measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of transfers of financial instrument classified as derivative asset (liability) after deduction of derivative liability (asset) out of level 3 of the fair value hierarchy. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Fair value of financial instrument classified as derivative asset (liability) after deduction of derivative liability (asset), measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Fair value measurement of assets and liabilities - Narrative (Details) $ / shares in Units, $ in Millions |
3 Months Ended | 9 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|---|
|
Sep. 30, 2023
USD ($)
$ / shares
|
Sep. 30, 2022
USD ($)
|
Sep. 30, 2023
USD ($)
$ / shares
$ / item
|
Sep. 30, 2022
USD ($)
|
Dec. 31, 2022
USD ($)
|
|
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
| Recognized gains in interest income and other financial gains | $ 81 | $ 42 | $ 195 | $ 104 | |
| Maximum gross realized gains | $ 1 | ||||
| Equity securities at fair value | |||||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
| Proceeds from sale of available for sale securitites | 156 | ||||
| Auction Rate Securities | Direct Investment | |||||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
| Investments | 365 | 365 | 359 | ||
| Auction Rate Securities | Significant other observable inputs (Level 2) | Direct Investment | |||||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
| Investments | 553 | 553 | 541 | ||
| Convertible Senior Notes | 2028 Notes | |||||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
| Estimated fair value | $ 255 | $ 255 | $ 884 | ||
| Closing trading price per share (in dollars per share) | $ / item | 100 | ||||
| Common stock, closing price per share (in dollars per share) | $ / shares | $ 1,267.88 | $ 1,267.88 | |||
| Debt instrument convertible, if-converted in excess of principal | $ 167 | $ 167 | |||
| X | ||||||||||
- Definition Common Stock, Closing Price Per Share No definition available.
|
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- Definition Debt Instrument, Closing Trading Amount Price Per Share No definition available.
|
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- Definition Amount of excess of preference in liquidation over convertible debt instrument's if-converted par or stated value of share. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
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- Definition Amount of realized gain on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition For each line item in the statement of financial position, the amounts of gains and losses from fair value changes included in earnings. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of cash inflow from sale of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Fair value measurement of assets and liabilities - Fair Value of Financial Assets and Liabilities Measured at Amortized Cost (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Reported Value Measurement | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | $ 8,908 | $ 7,757 |
| Reported Value Measurement | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 11,788 | 10,628 |
| Reported Value Measurement | Accounts payable and accrued expenses | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 1,910 | 1,393 |
| Reported Value Measurement | Funds payable to customers | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 4,016 | 3,454 |
| Reported Value Measurement | Amounts payable due to credit and debit card transactions | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 757 | 488 |
| Reported Value Measurement | Salaries and social security payable | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 445 | 349 |
| Reported Value Measurement | Loans payable and other financial liabilities | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 4,454 | 4,758 |
| Reported Value Measurement | Other liabilities | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 206 | 186 |
| Reported Value Measurement | Cash and cash equivalents | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 1,407 | 1,290 |
| Reported Value Measurement | Restricted cash and cash equivalents | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 866 | 943 |
| Reported Value Measurement | Investments | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 326 | 439 |
| Reported Value Measurement | Accounts receivables, net | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 161 | 130 |
| Reported Value Measurement | Credit cards | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 3,375 | 2,946 |
| Reported Value Measurement | Loans receivable, net | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 2,378 | 1,736 |
| Reported Value Measurement | Other assets | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 395 | 273 |
| Estimate Of Fair Value Measurement | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 8,917 | 7,782 |
| Estimate Of Fair Value Measurement | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 11,820 | 10,867 |
| Estimate Of Fair Value Measurement | Accounts payable and accrued expenses | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 1,910 | 1,393 |
| Estimate Of Fair Value Measurement | Funds payable to customers | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 4,016 | 3,454 |
| Estimate Of Fair Value Measurement | Amounts payable due to credit and debit card transactions | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 757 | 488 |
| Estimate Of Fair Value Measurement | Salaries and social security payable | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 445 | 349 |
| Estimate Of Fair Value Measurement | Loans payable and other financial liabilities | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 4,486 | 4,997 |
| Estimate Of Fair Value Measurement | Other liabilities | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Liabilities | 206 | 186 |
| Estimate Of Fair Value Measurement | Cash and cash equivalents | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 1,407 | 1,290 |
| Estimate Of Fair Value Measurement | Restricted cash and cash equivalents | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 866 | 943 |
| Estimate Of Fair Value Measurement | Investments | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 326 | 439 |
| Estimate Of Fair Value Measurement | Accounts receivables, net | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 161 | 130 |
| Estimate Of Fair Value Measurement | Credit cards | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 3,375 | 2,946 |
| Estimate Of Fair Value Measurement | Loans receivable, net | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | 2,387 | 1,761 |
| Estimate Of Fair Value Measurement | Other assets | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Assets | $ 395 | $ 273 |
| X | ||||||||||
- Definition Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Commitments and Contingencies - Narrative (Details) $ / shares in Units, shares in Millions |
3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|---|
|
Apr. 08, 2022
USD ($)
|
Sep. 30, 2023
USD ($)
$ / shares
|
Sep. 30, 2022
USD ($)
|
Sep. 30, 2023
USD ($)
supplier
$ / shares
shares
|
Sep. 30, 2022
USD ($)
|
Dec. 31, 2022
USD ($)
item
|
Dec. 31, 2021
USD ($)
|
|
| Loss Contingencies [Line Items] | |||||||
| Reserves for proceeding-related contingencies | $ 72,000,000 | $ 72,000,000 | |||||
| Aggregate amount for legal actions for which no loss amount has been accrued | 480,000,000 | 480,000,000 | |||||
| Loss accrued for reasonably possible legal actions | 0 | ||||||
| Income tax benefit | $ (172,000,000) | $ (69,000,000) | $ (504,000,000) | $ (154,000,000) | |||
| Number of purchase commitments entered | supplier | 2 | ||||||
| Air logistics services agreement term | 10 years | ||||||
| Committed contract, minimum annual cost | $ 43,000,000 | ||||||
| Sponsor Committed To Purchase Class A Ordinary Shares | |||||||
| Loss Contingencies [Line Items] | |||||||
| Class A ordinary shares to be purchased (in shares) | shares | 5 | ||||||
| Shares issued, price per share (in dollars per share) | $ / shares | $ 10 | $ 10 | |||||
| Cloud Platform Services | |||||||
| Loss Contingencies [Line Items] | |||||||
| Paid in relation to the contract | $ 342,000,000 | $ 342,000,000 | |||||
| Fully Paid Off Between October 1, 2021 And September 30, 2026 | Cloud Platform Services | |||||||
| Loss Contingencies [Line Items] | |||||||
| Purchase commitment | 824,000,000 | ||||||
| Fully Paid Off Between September 17, 2021 And September 17, 2024 | Cloud Platform Services II | |||||||
| Loss Contingencies [Line Items] | |||||||
| Purchase commitment | 200,000,000 | ||||||
| Paid in relation to the contract | 51,000,000 | 51,000,000 | |||||
| ICMS-DIFAL | |||||||
| Loss Contingencies [Line Items] | |||||||
| Provision for maximum potential exposure | 3,000,000 | 3,000,000 | |||||
| ICMS-DIFAL | Lawsuits Filed In 2021 | |||||||
| Loss Contingencies [Line Items] | |||||||
| Number of lawsuits pending | item | 4,000,000 | ||||||
| ICMS Tax Benefits Granted | |||||||
| Loss Contingencies [Line Items] | |||||||
| Income tax benefit | 16,000,000 | $ 8,000,000 | 44,000,000 | $ 25,000,000 | |||
| ICMS Tax Benefits Granted, Considering Exchange Rate | |||||||
| Loss Contingencies [Line Items] | |||||||
| Income tax benefit | 9,000,000 | $ 3,000,000 | $ 2,000,000 | ||||
| eBazar.com.br Ltda | |||||||
| Loss Contingencies [Line Items] | |||||||
| Tax assessments issued | 8,000,000 | ||||||
| Buyer Protection Program | |||||||
| Loss Contingencies [Line Items] | |||||||
| Provision for maximum potential exposure | 4,364,000,000 | 4,364,000,000 | 4,002,000,000 | ||||
| Product liability, contingency, recorded allowance | $ 5,000,000 | $ 5,000,000 | $ 6,000,000 | ||||
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- Definition Aggregate amount for legal actions for which no loss amount has been accrued. No definition available.
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- Definition Air Logistics Services Agreement Term No definition available.
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- Definition Committed Contract, Minimum Annual Cost No definition available.
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- Definition Cumulative Amount Paid Under Contract No definition available.
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- Definition Lawsuits Pending No definition available.
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- Definition Number Of Purchase Commitments Entered No definition available.
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- Definition Product Liability, Contingency, Recorded Allowance No definition available.
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- Definition Purchase Commitment, Amount No definition available.
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- Definition Estimated amount of loss resulting from an adverse tax position. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of loss contingency liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount charged against operating income increasing loss contingency liability, after adjustments to reduce previously estimated charges. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Present value of the accrual for product liability loss contingencies as of the balance sheet date (if the accrual qualifies for discounting). No definition available.
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- Definition Per share or per unit amount of equity securities issued. No definition available.
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Long term retention program ("LTRP") - Long Term Retention Program Accrued Compensation Expense (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total LTRP | $ 39 | $ 24 | $ 122 | $ 59 |
| LTRP 2017 | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total LTRP | 0 | 1 | 0 | (3) |
| LTRP 2018 | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total LTRP | 1 | 1 | 3 | (2) |
| LTRP 2019 | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total LTRP | 4 | 5 | 13 | 12 |
| LTRP 2020 | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total LTRP | 5 | 5 | 15 | 14 |
| LTRP 2021 | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total LTRP | 5 | 5 | 17 | 16 |
| LTRP 2022 | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total LTRP | 9 | 7 | 31 | 22 |
| LTRP 2023 | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Total LTRP | $ 15 | $ 0 | $ 43 | $ 0 |
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- Definition Amount of cost capitalized for award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Loans payable and other financial liabilities - Summary of Book Value of Loans Payable and Other Financial Liabilities (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Current loans payable and other financial liabilities: | ||
| Loans from banks | $ 489 | $ 319 |
| Bank overdrafts | 0 | 9 |
| Secured lines of credit | 94 | 115 |
| Financial Bills | 0 | 113 |
| Deposit Certificates | 901 | 993 |
| Commercial Notes | 2 | 6 |
| Finance lease obligations | 20 | 14 |
| Collateralized debt | 664 | 535 |
| Other lines of credit | 9 | 10 |
| Current loans payable and other financial liabilities | 2,272 | 2,131 |
| Non-Current loans payable and other financial liabilities: | ||
| Loans from banks | 90 | 145 |
| Secured lines of credit | 19 | 24 |
| Financial Bills | 8 | 0 |
| Deposit Certificates | 0 | 3 |
| Commercial Notes | 202 | 187 |
| Finance lease obligations | 40 | 37 |
| Collateralized debt | 774 | 703 |
| Other lines of credit | 1 | 0 |
| Non Current loans payable and other financial liabilities | 2,182 | 2,627 |
| 2028 Notes | ||
| Current loans payable and other financial liabilities: | ||
| 2028 Notes | 87 | 3 |
| Non-Current loans payable and other financial liabilities: | ||
| 2028 Notes | 0 | 436 |
| 2026 Sustainability Notes | ||
| Current loans payable and other financial liabilities: | ||
| Notes | 2 | 4 |
| Non-Current loans payable and other financial liabilities: | ||
| Notes | 397 | 398 |
| 2031 Notes | ||
| Current loans payable and other financial liabilities: | ||
| Notes | 4 | 10 |
| Non-Current loans payable and other financial liabilities: | ||
| Notes | $ 651 | $ 694 |
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- Definition Collateralized Financing, Current No definition available.
|
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- Definition Collateralized Financing, Noncurrent No definition available.
|
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- Definition Commercial Notes, Current No definition available.
|
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- Definition Commercial Notes, Noncurrent No definition available.
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- Definition Deposit Liability Non-Current No definition available.
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- Definition Financial Bills, Current No definition available.
|
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- Definition Financial Bills, Noncurrent No definition available.
|
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- Definition Other Lines Of Credit, Current No definition available.
|
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- Definition Other Lines of Credit, Noncurrent No definition available.
|
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- Definition Carrying value as of the balance sheet date of payments made in excess of existing cash balances, which will be honored by the bank but reflected as a loan to the entity. Overdrafts generally have a very short time frame for correction or repayment and are therefore more similar to short-term bank financing than trade financing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of the carrying value of long-term convertible debt as of the balance sheet date that is scheduled to be repaid within one year or in the normal operating cycle if longer. Convertible debt is a financial instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Carrying amount of long-term convertible debt as of the balance sheet date, net of the amount due in the next twelve months or greater than the normal operating cycle, if longer. The debt is convertible into another form of financial instrument, typically the entity's common stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current portion, due within one year or one operating cycle, if longer, of deposits held other than customer deposits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Present value of lessee's discounted obligation for lease payments from finance lease, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Present value of lessee's discounted obligation for lease payments from finance lease, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of long-term debt and lease obligation, classified as noncurrent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
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- Definition Amount of long-term debt and lease obligation, classified as current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Current portion of the total carrying amount as of the balance sheet date due within one year or the operating cycle, if longer, on all notes payable to banks paid on an installment with long term maturities. This can include the amount of any loans from the applicant firm. This does not, however, include any mortgage balances. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The total amount due within more than 12 month, or the operating cycle if longer, on all notes payable to banks paid on an installment. This can include the amount of any loans from the applicant firm. This does not, however, include any mortgage balances. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Carrying value as of the balance sheet date of the portion of long-term notes having the highest claim on the assets of the issuer in case of bankruptcy or liquidation, due within one year or the normal operating cycle, if longer. Senior note holders are paid off in full before any payments are made to debt holders having a lesser priority of repayment. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Loans payable and other financial liabilities - Summary of Loans Payable and Other Financial Liabilities (Details) - USD ($) $ in Millions |
9 Months Ended | |
|---|---|---|
Sep. 30, 2023 |
Dec. 31, 2022 |
|
| Debt Instrument [Line Items] | ||
| Bank overdrafts | $ 0 | $ 9 |
| Finance lease obligations | 60 | 51 |
| Collateralized debt | 1,438 | 1,238 |
| Other lines of credit | 10 | 10 |
| Loans payable and other financial liabilities | $ 4,454 | 4,758 |
| Loans From Banks, 11.60% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 9.99% | |
| Loans from banks | $ 102 | 150 |
| Loans From Banks, 5.75% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 5.75% | |
| Loans from banks | $ 52 | 0 |
| Loans From Banks, - | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 0.00% | |
| Loans from banks | $ 0 | 59 |
| Loans From Banks, 4.32% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 5.91% | |
| Loans from banks | $ 162 | 0 |
| Loans From Banks, TJLP+0.8% | ||
| Debt Instrument [Line Items] | ||
| Loans from banks | 9 | 9 |
| Loans From Banks, TIIE+2.20-3.50% | ||
| Debt Instrument [Line Items] | ||
| Loans from banks | $ 192 | 177 |
| Loans From Banks, 11.00% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 9.90% | |
| Loans from banks | $ 48 | 47 |
| Loans From Banks, 14.45% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 13.98% | |
| Loans from banks | $ 14 | 22 |
| Bank Overdrafts, 11.62% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 0.00% | |
| Bank overdrafts | $ 0 | 9 |
| Secured Lines Of Credit, 88.50% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 103.12% | |
| Secured lines of credit | $ 84 | 107 |
| Secured Lines Of Credit, 10.12% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 10.17% | |
| Secured lines of credit | $ 29 | 32 |
| Financial Bills, CDI+0.95-1.40% | ||
| Debt Instrument [Line Items] | ||
| Financial Bills | $ 8 | 113 |
| Deposit Certificates -% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 0.00% | |
| Deposit Certificates | $ 0 | 272 |
| Deposit Certificates, 100% to 150% of CDI | ||
| Debt Instrument [Line Items] | ||
| Deposit Certificates | 769 | 565 |
| Deposit Certificates, 13.35% - 14.70% | ||
| Debt Instrument [Line Items] | ||
| Deposit Certificates | 92 | 114 |
| Deposit Certificates, 107.20% to 107.05% of CDI | ||
| Debt Instrument [Line Items] | ||
| Deposit Certificates | 40 | 45 |
| Commercial Notes, DI+0.88% | ||
| Debt Instrument [Line Items] | ||
| Commercial Notes | 72 | 71 |
| Commercial Notes, IPCA+6.41% | ||
| Debt Instrument [Line Items] | ||
| Commercial Notes | $ 132 | 122 |
| 2028 Notes | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 2.00% | |
| 2028 Notes | $ 87 | 439 |
| 2026 Sustainability Notes | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 2.375% | |
| Senior Notes | $ 399 | 402 |
| 2031 Notes | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 3.125% | |
| Senior Notes | $ 655 | $ 704 |
| Minimum | Deposit Certificates, 13.35% - 14.70% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 11.90% | |
| Maximum | Deposit Certificates, 13.35% - 14.70% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 14.40% | |
| TJLP | Loans From Banks, TJLP+0.8% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 0.80% | |
| TIIE | Minimum | Loans From Banks, TIIE+2.20-3.50% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.20% | |
| TIIE | Maximum | Loans From Banks, TIIE+2.20-3.50% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 3.50% | |
| CDI | Minimum | Financial Bills, CDI+0.95-1.40% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 1.15% | |
| CDI | Minimum | Deposit Certificates, 100% to 150% of CDI | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 100.00% | |
| CDI | Minimum | Deposit Certificates, 107.20% to 107.05% of CDI | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 106.50% | |
| CDI | Maximum | Financial Bills, CDI+0.95-1.40% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 1.40% | |
| CDI | Maximum | Deposit Certificates, 100% to 150% of CDI | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 140.00% | |
| DI | Commercial Notes, DI+0.88% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 0.88% | |
| IPCA | Commercial Notes, IPCA+6.41% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 6.41% |
| X | ||||||||||
- Definition Commercial Notes No definition available.
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- Definition Deposit Certificates No definition available.
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- Definition Financial Bills No definition available.
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- Definition Other Lines Of Credit No definition available.
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- Definition Secured Lines Of Credit No definition available.
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- Definition Carrying value as of the balance sheet date of payments made in excess of existing cash balances, which will be honored by the bank but reflected as a loan to the entity. Overdrafts generally have a very short time frame for correction or repayment and are therefore more similar to short-term bank financing than trade financing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The value of the collateral (typically cash) that the entity receives in a financing transaction in exchange for securities lent. This item represents a liability in the financial statements of the lender of the securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Including the current and noncurrent portions, carrying amount of debt identified as being convertible into another form of financial instrument (typically the entity's common stock) as of the balance sheet date, which originally required full repayment more than twelve months after issuance or greater than the normal operating cycle of the company. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Weighted average interest rate of debt outstanding. No definition available.
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- Definition Present value of lessee's discounted obligation for lease payments from finance lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Including the current and noncurrent portions, the carrying value as of the balance sheet date of notes payable to banks, excluding mortgage notes, initially due beyond one year or beyond the operating cycle if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Loans payable and other financial liabilities - Narrative (Details) |
1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2023
USD ($)
shares
|
Sep. 19, 2023
USD ($)
shares
|
May 31, 2023
USD ($)
|
Sep. 30, 2023
USD ($)
|
Jun. 30, 2023
USD ($)
|
Sep. 30, 2022
USD ($)
|
Jun. 30, 2023
USD ($)
|
Sep. 30, 2023
USD ($)
|
Sep. 30, 2022
USD ($)
|
Dec. 31, 2022
USD ($)
|
Mar. 31, 2022
USD ($)
|
Jan. 14, 2021
USD ($)
|
Aug. 31, 2018
USD ($)
|
Aug. 24, 2018 |
|
| Debt Instrument [Line Items] | ||||||||||||||
| Gain in interest income and other financial gains | $ 8,000,000 | $ 8,000,000 | ||||||||||||
| Revolving Credit Facility | ||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||
| Borrowing under the facility | $ 0 | $ 0 | $ 0 | |||||||||||
| Revolving Credit Facility | Subsidiaries | ||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||
| Maximum borrowing capacity | $ 400,000,000 | |||||||||||||
| 2.375% Sustainability Notes due 2026 | ||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||
| Convertible senior notes, interest rate | 2.375% | |||||||||||||
| Face amount | $ 400,000,000 | |||||||||||||
| Total amount paid | $ 38,000,000 | |||||||||||||
| 2031 Notes | ||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||
| Convertible senior notes, interest rate | 3.125% | |||||||||||||
| Face amount | $ 700,000,000 | |||||||||||||
| Repurchased principal amount | 44,000,000 | |||||||||||||
| 2026 Sustainability Notes | ||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||
| Repurchased principal amount | $ 2,000,000 | |||||||||||||
| Initial Issuance - 2028 Convertible Senior Notes | Convertible Senior Notes | ||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||
| Convertible senior notes, interest rate | 2.00% | |||||||||||||
| 2028 Notes | Convertible Senior Notes | ||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||
| Convertible senior notes, interest rate | 2.00% | |||||||||||||
| Face amount | $ 880,000,000 | |||||||||||||
| Conversion ratio | 0.0022952 | |||||||||||||
| Increase in conversion ratio | 0.0000399 | |||||||||||||
| Debt instrument outstanding | 88,000,000 | 88,000,000 | 88,000,000 | $ 439,000,000 | ||||||||||
| Debt issuance costs | 1,000,000 | 1,000,000 | 1,000,000 | $ 3,000,000 | ||||||||||
| Amortization of debt issuance costs | 7,000,000 | $ 2,000,000 | 7,000,000 | $ 2,000,000 | ||||||||||
| 2028 Notes | Convertible Senior Notes | Notes Converted Into Non Cash Transactions | ||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||
| Converted shares (in shares) | shares | 869,692 | |||||||||||||
| Debt instrument outstanding | 60,000,000 | $ 60,000,000 | $ 60,000,000 | |||||||||||
| Total principal amount | $ 351,000,000 | $ 379,000,000 | ||||||||||||
| 2028 Notes | Convertible Senior Notes | Notes Converted Into Non Cash Transactions | Common stock | ||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||
| Converted shares (in shares) | shares | 806,629 | |||||||||||||
| 2028 Notes | Convertible Senior Notes | Notes Converted Into Non Cash Transactions | 2028 Notes Converted | ||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||
| Non-cash transaction | $ 350,000,000 | |||||||||||||
| 2028 Notes | Convertible Senior Notes | Shares Received From 2028 Notes Capped Call Transactions | Common stock | ||||||||||||||
| Debt Instrument [Line Items] | ||||||||||||||
| Converted shares (in shares) | shares | 289,675 | |||||||||||||
| X | ||||||||||
- Definition Debt Instrument, Convertible, Increase, Conversion Ratio No definition available.
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- Definition Debt Instrument, Total Amount Paid No definition available.
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- Definition Amount of amortization expense attributable to debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The value of the financial instrument(s) that the original debt is being converted into in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The number of shares issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or payments in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Ratio applied to the conversion of debt instrument into equity with equity shares divided by debt principal amount. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Fair value amount of debt instrument that was repurchased. No definition available.
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- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
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- Definition Amount of gain (loss) from the difference between the repurchase price of a debt instrument initially issued by the entity and the net carrying amount of the debt at the time of its repurchase. No definition available.
|
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The value of the noncash (or part noncash) consideration received in a transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of a transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Securitization Transactions - Collateralized Debt (Details) - USD ($) $ in Millions |
9 Months Ended | |
|---|---|---|
Sep. 30, 2023 |
Dec. 31, 2022 |
|
| Debt Instrument [Line Items] | ||
| Collateralized debt | $ 1,438 | $ 1,238 |
| Mercado Crédito I Brasil Fundo de Investimento Em Direitos Creditórios Não Padronizados | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 201 | |
| Mercado Crédito Fundo de Investimento Em Direitos Creditórios Não Padronizado | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 13 | |
| Olimpia Fundo de Investimento Em Direitos Creditórios | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 105 | |
| Mercado Crédito II Brasil Fundo De Investimento Em Direitos Creditórios Nao Padronizados | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 125 | |
| Seller Fundo De Investimento Em Direitos Creditórios | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 208 | |
| Seller Fundo De Investimento Em Direitos Creditórios | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 103 | |
| Mercado Crédito Consumo XVI | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 2 | |
| Mercado Crédito Consumo XVII | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 6 | |
| Mercado Crédito Consumo XVIII | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 12 | |
| Mercado Crédito Consumo XIX | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 14 | |
| Mercado Crédito Consumo XX | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 17 | |
| Mercado Crédito Consumo XXI | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 16 | |
| Mercado Crédito Consumo XXII | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 17 | |
| Mercado Crédito Consumo XXIII | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 18 | |
| Mercado Crédito Consumo XXIV | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 17 | |
| Mercado Crédito Consumo XXV (*) | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 17 | |
| Mercado Crédito XVII | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 3 | |
| Mercado Crédito XVIII | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 5 | |
| Mercado Crédito XIX | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 11 | |
| Fideicomiso de administración y fuente de pago CIB/3756 | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 239 | |
| Fideicomiso de administración y fuente de pago CIB/3369 | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | $ 289 | |
| CDI | Mercado Crédito I Brasil Fundo de Investimento Em Direitos Creditórios Não Padronizados | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.50% | |
| CDI | Mercado Crédito Fundo de Investimento Em Direitos Creditórios Não Padronizado | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 3.50% | |
| CDI | Olimpia Fundo de Investimento Em Direitos Creditórios | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 1.25% | |
| CDI | Mercado Crédito II Brasil Fundo De Investimento Em Direitos Creditórios Nao Padronizados | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.35% | |
| CDI | Seller Fundo De Investimento Em Direitos Creditórios | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 1.60% | |
| CDI | Seller Fundo De Investimento Em Direitos Creditórios | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 1.80% | |
| BADLAR Rate | Mercado Crédito Consumo XVI | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XVII | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XVIII | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XIX | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XX | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XXI | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XXIII | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XXIV | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XXV (*) | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito XVII | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito XVIII | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito XIX | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XVI | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 60.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XVII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 60.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XVIII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 60.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XIX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 60.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 60.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XXI | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 80.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XXII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 80.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XXIII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 80.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XXIV | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 100.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XXV (*) | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 100.00% | |
| BADLAR Rate | Minimum | Mercado Crédito XVII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 35.00% | |
| BADLAR Rate | Minimum | Mercado Crédito XVIII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 35.00% | |
| BADLAR Rate | Minimum | Mercado Crédito XIX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 100.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XVI | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 92.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XVII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 92.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XVIII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 92.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XIX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 92.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 92.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XXI | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 120.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XXII | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| Effective interest rate | 120.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XXIII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 120.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XXIV | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 140.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XXV (*) | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 150.00% | |
| BADLAR Rate | Maximum | Mercado Crédito XVII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 88.00% | |
| BADLAR Rate | Maximum | Mercado Crédito XVIII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 92.00% | |
| BADLAR Rate | Maximum | Mercado Crédito XIX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 140.00% | |
| Diario Oficial | Fideicomiso de administración y fuente de pago CIB/3756 | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 2.35% | |
| Diario Oficial | Fideicomiso de administración y fuente de pago CIB/3369 | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 3.00% |
| X | ||||||||||
- Definition The value of the collateral (typically cash) that the entity receives in a financing transaction in exchange for securities lent. This item represents a liability in the financial statements of the lender of the securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
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- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
| X | ||||||||||
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Details
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| X | ||||||||||
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Securitization Transactions - Assets and Liabilities of the Trust (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Securitization Transactions [Line Items] | ||
| Restricted cash and cash equivalents | $ 1,085 | $ 1,453 |
| Short-term investments | 3,320 | 2,339 |
| Credit card receivables and other means of payments, net | 3,375 | 2,946 |
| Loans receivable, net | 2,336 | 1,704 |
| Total current assets | 13,050 | 10,953 |
| Long-term investments | 149 | 322 |
| Loans receivable, net | 42 | 32 |
| Total non-current assets | 3,074 | 2,783 |
| Total assets | 16,124 | 13,736 |
| Accounts payable and accrued expenses | 1,910 | 1,393 |
| Loans payable and other financial liabilities | 2,272 | 2,131 |
| Other liabilities | 105 | 95 |
| Total current liabilities | 10,306 | 8,562 |
| Loans payable and other financial liabilities | 2,182 | 2,627 |
| Total non-current liabilities | 3,077 | 3,347 |
| Total liabilities | 13,383 | 11,909 |
| Trust Created In Brazil | ||
| Securitization Transactions [Line Items] | ||
| Restricted cash and cash equivalents | 281 | 459 |
| Short-term investments | 1 | 0 |
| Credit card receivables and other means of payments, net | 106 | 317 |
| Loans receivable, net | 1,169 | 799 |
| Total current assets | 1,557 | 1,575 |
| Long-term investments | 24 | 21 |
| Loans receivable, net | 19 | 24 |
| Total non-current assets | 43 | 45 |
| Total assets | 1,600 | 1,620 |
| Accounts payable and accrued expenses | 0 | 4 |
| Loans payable and other financial liabilities | 664 | 535 |
| Other liabilities | 4 | 1 |
| Total current liabilities | 668 | 540 |
| Loans payable and other financial liabilities | 774 | 703 |
| Total non-current liabilities | 774 | 703 |
| Total liabilities | $ 1,442 | $ 1,243 |
| X | ||||||||||
- Definition Securitization Transactions [Line Items] No definition available.
|
| X | ||||||||||
- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Carrying value as of the balance sheet date of portion of long-term loans payable due within one year or the operating cycle if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Carrying value as of the balance sheet date of loans payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amortized cost, after allowance for credit loss, of financing receivable classified as current. Excludes net investment in lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount, after allowance for credit loss, of financing receivable, classified as noncurrent. No definition available.
|
| X | ||||||||||
- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount due from customers for fees and charges arising from transactions related to the entity's brokerage activities and operations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Details
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Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Leases [Abstract] | ||
| Operating lease right-of-use assets | $ 796 | $ 656 |
| Operating lease liabilities | 786 | 656 |
| Property and equipment, at cost | 106 | 87 |
| Accumulated depreciation | (42) | (31) |
| Property and equipment, net | 64 | 56 |
| Loans payable and other financial liabilities | $ 60 | $ 51 |
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from finance lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount, after accumulated amortization, of right-of-use asset from finance lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of accumulated amortization of right-of-use asset from finance lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount, before accumulated amortization, of right-of-use asset from finance lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of lessee's right to use underlying asset under operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Leases - Summary of Weighted Average Remaining Lease Term and Discount Rate (Details) |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Leases [Abstract] | ||
| Weighted average remaining lease term, Operating leases | 7 years | 8 years |
| Weighted average remaining lease term, Finance leases | 3 years | 3 years |
| Weighted average discount rate, Operating leases | 10.00% | 10.00% |
| Weighted average discount rate, Finance leases | 22.00% | 16.00% |
| X | ||||||||||
- Definition Weighted average discount rate for finance lease calculated at point in time. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Weighted average remaining lease term for finance lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Weighted average discount rate for operating lease calculated at point in time. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
Leases - Components of Lease Expense (Details) - USD ($) $ in Millions |
9 Months Ended | |
|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| Leases [Abstract] | ||
| Operating lease cost | $ 130 | $ 91 |
| Depreciation of property and equipment | 15 | 13 |
| Interest on lease liabilities | 7 | 6 |
| Total finance lease cost | $ 22 | $ 19 |
| X | ||||||||||
- Definition Finance Lease, Cost No definition available.
|
| X | ||||||||||
- Definition Amount of interest expense on finance lease liability. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of amortization expense attributable to right-of-use asset from finance lease. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of lease cost recognized by lessee for lease contract. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- References No definition available.
|
Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Millions |
9 Months Ended | |
|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| Leases [Abstract] | ||
| Operating cash flows from operating leases | $ 129 | $ 85 |
| Financing cash flows from finance leases | 21 | 14 |
| Operating leases | 188 | 193 |
| Finance leases | $ 20 | $ 15 |
| X | ||||||||||
- Definition Amount of cash outflow for principal payment on finance lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash outflow from operating lease, excluding payments to bring another asset to condition and location necessary for its intended use. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of increase in right-of-use asset obtained in exchange for finance lease liability. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of increase in right-of-use asset obtained in exchange for operating lease liability. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Operating Leases | ||
| One year or less | $ 171 | |
| One year to two years | 171 | |
| Two years to three years | 144 | |
| Three years to four years | 118 | |
| Four years to five years | 111 | |
| Thereafter | 384 | |
| Total lease payments | 1,099 | |
| Less imputed interest | (313) | |
| Total | 786 | $ 656 |
| Finance Leases | ||
| One year or less | 32 | |
| One year to two years | 27 | |
| Two years to three years | 22 | |
| Three years to four years | 8 | |
| Four years to five years | 0 | |
| Thereafter | 0 | |
| Total lease payments | 89 | |
| Less imputed interest | (29) | |
| Finance lease obligations | $ 60 | $ 51 |
| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from finance lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments for finance lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in remainder of current fiscal year. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments in excess of discounted obligation for lease payments for finance lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease due after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease to be paid in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease to be paid in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease to be paid in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease to be paid in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease having initial or remaining lease term in excess of one year to be paid in remainder of current fiscal year. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments in excess of discounted obligation for lease payments for operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Derivative instruments - Summary of Notional Amounts (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Designated as hedging instrument | Foreign exchange contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Notional Amount | $ 62 | $ 109 |
| Designated as hedging instrument | Interest rate swap contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Notional Amount | 0 | 229 |
| Designated as hedging instrument | Cross currency swap contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Notional Amount | 244 | 133 |
| Not designated as hedging instrument | Foreign exchange contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Notional Amount | 39 | 110 |
| Not designated as hedging instrument | Interest rate swap contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Notional Amount | $ 249 | $ 480 |
| X | ||||||||||
- Definition Nominal or face amount used to calculate payment on derivative. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Derivative instruments - Summary of Outstanding Derivative Instruments (Details) - USD ($) $ in Millions |
Sep. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | $ (5) | $ (5) |
| Foreign exchange contracts | Designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | (2) | (2) |
| Foreign exchange contracts | Other current assets | Designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | 0 | 1 |
| Foreign exchange contracts | Other current liabilities | Designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | 1 | 2 |
| Foreign exchange contracts | Other current liabilities | Not designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | 2 | 2 |
| Cross currency swap contracts designated as net investment hedge | Other current liabilities | Designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | 4 | 2 |
| Interest rate swap contracts | Other non-current assets | Not designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | 11 | 0 |
| Interest rate swap contracts | Other current liabilities | Designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | 0 | 8 |
| Interest rate swap contracts | Other current liabilities | Not designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | 7 | 1 |
| Interest rate swap contracts | Other non-current liabilities | Not designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | 0 | 6 |
| Cross currency swap contracts designated as fair value hedge | Other current assets | Designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | 5 | 0 |
| Cross currency swap contracts designated as fair value hedge | Other current liabilities | Designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | 4 | 2 |
| Cross currency swap contracts | Designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | (3) | (1) |
| Cross currency swap contracts | Other non-current liabilities | Designated as hedging instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative | $ 0 | $ 1 |
| X | ||||||||||
- Definition Fair value of the assets less the liabilities of a derivative or group of derivatives. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Derivative instruments - Effect of Derivative Contracts on Comprehensive Income (Details) - Designated as hedging instrument $ in Millions |
9 Months Ended |
|---|---|
|
Sep. 30, 2023
USD ($)
| |
| Derivative Instruments, Gain (Loss) [Line Items] | |
| Beginning Balance | $ (5) |
| Amount of gain (loss) recognized in other comprehensive income | (8) |
| Amount of (gain) loss reclassified from accumulated other comprehensive income | 8 |
| End Balance | (5) |
| Foreign exchange contracts | |
| Derivative Instruments, Gain (Loss) [Line Items] | |
| Beginning Balance | (2) |
| Amount of gain (loss) recognized in other comprehensive income | (9) |
| Amount of (gain) loss reclassified from accumulated other comprehensive income | 9 |
| End Balance | (2) |
| Interest Swap Contracts | |
| Derivative Instruments, Gain (Loss) [Line Items] | |
| Beginning Balance | (2) |
| Amount of gain (loss) recognized in other comprehensive income | 8 |
| Amount of (gain) loss reclassified from accumulated other comprehensive income | (6) |
| End Balance | 0 |
| Cross currency swap contracts | |
| Derivative Instruments, Gain (Loss) [Line Items] | |
| Beginning Balance | (1) |
| Amount of gain (loss) recognized in other comprehensive income | (7) |
| Amount of (gain) loss reclassified from accumulated other comprehensive income | 5 |
| End Balance | $ (3) |
| X | ||||||||||
- Definition Fair value of the assets less the liabilities of a derivative or group of derivatives. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount, before tax, of reclassification of gain (loss) from accumulated other comprehensive income (AOCI) for derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Derivative instruments - Narrative (Details) - Fair Value Hedging - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2023 |
Dec. 31, 2022 |
Sep. 30, 2022 |
|
| Loans Payable And Other Financial Liabilities Current | ||||
| Derivatives, Fair Value [Line Items] | ||||
| Carrying amount of the hedged item | $ 214 | $ 214 | $ 59 | |
| Fair value hedge relationships less than | 1 | 1 | $ 1 | |
| Designated as hedging instrument | Interest Expense | ||||
| Derivatives, Fair Value [Line Items] | ||||
| Effect of fair value relationships | $ 4 | $ 9 |
| X | ||||||||||
- Definition Nominal or face amount used to calculate payments on the derivative liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Total amount of gain (loss) derived from fair value hedges recognized in earnings in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cumulative increase (decrease) in fair value of hedged liability in fair value hedge, attributable to hedged risk. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Details
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Derivative instruments - Effect of Derivative Contracts Not Designated as Hedging Instruments on Income Statement (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
|
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||
| Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments | $ 1 | $ 0 | $ (10) | $ 0 |
| Gain (Loss) on Foreign Currency Fair Value Hedge Derivatives | 0 | (1) | 0 | (23) |
| Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments | $ (4) | $ (5) | $ 1 | $ (5) |
| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of gain (loss) recognized in earnings in the period from the increase (decrease) in fair value of foreign currency derivatives not designated as hedging instruments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of gain (loss) from the increase (decrease) in fair value of foreign currency derivatives and nonderivative instruments designated as fair value hedging instruments which were recognized in earnings, net of offsets by the gain (loss) on the hedged item to the extent that the fair value hedge was determined to be effective. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of gain (loss) included in earnings for the period from the increase (decrease) in fair value of interest rate derivatives not designated as hedging instruments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Share repurchase program (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
Feb. 21, 2023 |
|
| Equity, Class of Treasury Stock [Line Items] | |||||
| Shares acquired (in shares) | 425,913 | 425,913 | |||
| Foreign currency loss | $ 498 | $ 265 | |||
| February 2023 Stock Repurchase Program | |||||
| Equity, Class of Treasury Stock [Line Items] | |||||
| Aggregate consideration amount of repurchase program | $ 157 | $ 157 | $ 900 | ||
| Share Repurchase Programs | |||||
| Equity, Class of Treasury Stock [Line Items] | |||||
| Shares acquired (in shares) | 570,049 | 570,049 | |||
| August 30, 2020 Board Authorized Repurchase Program | |||||
| Equity, Class of Treasury Stock [Line Items] | |||||
| Foreign currency loss | $ 173 | $ 45 | $ 386 | $ 108 | |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Definition Amount before tax of foreign currency transaction realized and unrealized loss recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of stock repurchase plan authorized. No definition available.
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| X | ||||||||||
- Definition Number of previously issued common shares repurchased by the issuing entity and held in treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Details
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- Details
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