Date: 5/3/2024
Form: 10-Q - Quarterly Report
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- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicates that the company is a Smaller Reporting Company (SRC). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Local phone number for entity. No definition available.
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- Details
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- Details
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- Details
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- Definition Amounts Payable Due To Credit And Debit Card Transactions, Current No definition available.
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- Definition Amounts Payable Due To Credit And Debit Card Transactions, Non-Current No definition available.
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- Definition Crypto Asset, Fair Value No definition available.
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- Definition Amount payable to customer by broker-dealer. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Fair value of asset to safeguard crypto-asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Fair value of obligation to safeguard crypto-asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- 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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- 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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- References No definition available.
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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 Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences with jurisdictional netting. 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 Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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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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- References No definition available.
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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, after allowance for credit loss, of financing receivable, classified as noncurrent. No definition available.
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- Definition Present value of lessee's discounted obligation for lease payments from operating 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 operating lease, classified as noncurrent. 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 current assets classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of noncurrent assets classified as other. 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, 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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- 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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- 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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- 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 |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Loans receivable allowance, current | $ 1,197 | $ 1,042 |
| Loans receivable allowance, noncurrent | $ 46 | $ 42 |
| 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) | 50,697,442 | 50,697,442 |
| Common stock, shares outstanding (in shares) | 50,697,442 | 50,697,442 |
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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 Amount of allowance for credit loss on financing receivable, classified as noncurrent. 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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- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- 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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- References No definition available.
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Interim Condensed Consolidated Statements of Income - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 |
Dec. 31, 2023 |
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Dec. 31, 2023 |
||||
| Net revenues and financial income | $ 4,333 | $ 4,409 | $ 3,927 | $ 3,585 | $ 3,186 | [1] | $ 15,107 | ||
| Cost of net revenues and financial expenses | (2,309) | (2,359) | (1,832) | (1,754) | (1,572) | [1] | (7,517) | ||
| Gross profit | 2,024 | 2,050 | 2,095 | 1,831 | 1,614 | [1] | 7,590 | ||
| Operating expenses: | |||||||||
| Product and technology development | (458) | (686) | (396) | (368) | (381) | [1] | (1,831) | ||
| Sales and marketing | (478) | (529) | (441) | (383) | (383) | [1] | (1,736) | ||
| Provision for doubtful accounts | (374) | (299) | (277) | (222) | (252) | [1] | (1,050) | ||
| General and administrative | (186) | (201) | (196) | (189) | (180) | [1] | (766) | ||
| Total operating expenses | (1,496) | (1,715) | (1,310) | (1,162) | (1,196) | [1] | (5,383) | ||
| Income from operations | 528 | 335 | 785 | 669 | 418 | [1] | 2,207 | ||
| Other income (expenses): | |||||||||
| Interest income and other financial gains | 25 | 40 | 38 | 34 | 23 | [1] | 135 | ||
| Interest expense and other financial losses | (38) | (38) | (53) | (49) | (34) | [1] | (174) | ||
| Foreign currency losses, net | (34) | (107) | (239) | (182) | (87) | [1] | (615) | ||
| Net income before income tax expense and equity in earnings of unconsolidated entity | 481 | 230 | 531 | 472 | 320 | [1] | 1,553 | ||
| Income tax expense | (137) | (65) | (172) | (210) | (122) | [1] | (569) | ||
| Equity in earnings of unconsolidated entity | 0 | 0 | 0 | 0 | 3 | [1] | 3 | ||
| Net income | $ 344 | 165 | 359 | 262 | $ 201 | [1] | 987 | ||
| Basic earning per share | |||||||||
| Basic net income available to shareholders per common share (in dollars per share) | $ 6.78 | $ 4.01 | |||||||
| Weighted average of outstanding common shares (in shares) | 50,697,442 | 50,245,073 | |||||||
| Diluted earning per share | |||||||||
| Diluted net income available to shareholders per common share (in dollars per share) | $ 6.78 | $ 3.97 | |||||||
| Weighted average of outstanding common shares (in shares) | 50,697,442 | 51,235,341 | |||||||
| Service | |||||||||
| Net revenues and financial income | $ 3,955 | 3,898 | 3,586 | 3,221 | $ 2,912 | [1] | 13,617 | ||
| Product | |||||||||
| Net revenues and financial income | $ 378 | $ 511 | $ 341 | $ 364 | $ 274 | [1] | $ 1,490 | ||
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- Definition Equity In Earnings Of Unconsolidated Entity, Net Of Tax 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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- 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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- 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 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 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 of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). 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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| 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 | ||||||||||
- 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
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Definition Other Comprehensive Income (Loss), Reclassification Adjustment From AOCI For Losses (Gains) Included In Net Income, After Tax No definition available.
|
| X | ||||||||||
- Definition Other Comprehensive Income (Loss), Reclassification Adjustment From AOCI, Net Of Tax, Losses (Gains) Included In Income Tax Expense No definition available.
|
| X | ||||||||||
- 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
|
| 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 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
|
| X | ||||||||||
- 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
|
| X | ||||||||||
- 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
|
| X | ||||||||||
- References No definition available.
|
| 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 | ||||||||||
- References No definition available.
|
Interim Condensed Consolidated Statements of Equity - USD ($) $ in Millions |
Total |
Common stock |
Additional paid-in capital |
Treasury Stock |
Retained Earnings |
Accumulated other comprehensive loss |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Beginning Balance (in shares) at Dec. 31, 2022 | 50,000,000 | |||||||||||
| Beginning Balance at Dec. 31, 2022 | $ 1,827 | $ 0 | $ 2,309 | $ (931) | $ 913 | $ (464) | ||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
| Common Stock repurchased | (61) | (61) | ||||||||||
| Net income | 201 | [1] | 201 | |||||||||
| Other comprehensive income (loss) | 73 | 73 | ||||||||||
| Ending Balance (in shares) at Mar. 31, 2023 | 50,000,000 | |||||||||||
| Ending Balance at Mar. 31, 2023 | 2,040 | $ 0 | 2,309 | (992) | 1,114 | (391) | ||||||
| Beginning Balance (in shares) at Dec. 31, 2022 | 50,000,000 | |||||||||||
| Beginning Balance at Dec. 31, 2022 | 1,827 | $ 0 | 2,309 | (931) | 913 | (464) | ||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
| Net income | $ 987 | |||||||||||
| Ending Balance (in shares) at Dec. 31, 2023 | 50,697,442 | 50,000,000 | ||||||||||
| Ending Balance at Dec. 31, 2023 | $ 3,071 | $ 0 | 1,770 | (310) | [2] | 1,901 | (290) | |||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
| Net income | 344 | 344 | ||||||||||
| Other comprehensive income (loss) | $ (25) | (25) | ||||||||||
| Ending Balance (in shares) at Mar. 31, 2024 | 50,697,442 | 50,000,000 | ||||||||||
| Ending Balance at Mar. 31, 2024 | $ 3,390 | $ 0 | $ 1,770 | $ (310) | [2] | $ 2,245 | $ (315) | |||||
| ||||||||||||
| 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
|
| 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 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 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
|
| 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) |
Mar. 31, 2024
shares
|
|---|---|
| Statement of Stockholders' Equity [Abstract] | |
| Treasury stock, shares (in shares) | 224,945 |
| 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 |
3 Months Ended | ||||
|---|---|---|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
||||
| Cash flows from operations: | |||||
| Net income | $ 344 | $ 201 | [1] | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||
| Equity in earnings of unconsolidated entity | 0 | (3) | [1] | ||
| Unrealized foreign currency losses, net | 9 | 117 | |||
| Depreciation and amortization | 154 | 126 | |||
| Accrued interest income | (83) | (72) | |||
| Non cash interest expense and amortization of debt issuance costs and other charges | 48 | 52 | |||
| Provision for doubtful accounts | 374 | 252 | [1] | ||
| Results on derivative instruments | 1 | 11 | |||
| Long term retention program (“LTRP”) accrued compensation | 68 | 47 | |||
| Results on digital assets at fair value | (16) | 0 | |||
| Deferred income taxes | (65) | 8 | |||
| Changes in assets and liabilities: | |||||
| Accounts receivable | (22) | (12) | |||
| Credit card receivables and other means of payments | (403) | 165 | |||
| Inventories | 11 | (39) | |||
| Other assets | (202) | (16) | |||
| Payables and accrued expenses | 81 | 107 | |||
| Funds payable to customers | 727 | (242) | |||
| Amounts payable due to credit and debit card transactions | 292 | 63 | |||
| Other liabilities | 109 | 39 | |||
| Interest received from investments | 85 | 55 | |||
| Net cash provided by operating activities | 1,512 | 859 | |||
| Cash flows from investing activities: | |||||
| Purchases of investments | (4,095) | (5,124) | |||
| Proceeds from sale and maturity of investments | 3,728 | 5,104 | |||
| Payments from settlements of derivative instruments | (5) | (8) | |||
| Purchases of intangibles assets | (2) | 0 | |||
| Changes in loans receivable, net | (946) | (421) | |||
| Investments of property and equipment | (146) | (89) | |||
| Net cash used in investing activities | (1,466) | (538) | |||
| Cash flows from financing activities: | |||||
| Proceeds from loans payable and other financial liabilities | 3,519 | 5,977 | |||
| Payments on loans payable and other financing liabilities | (3,506) | (6,022) | |||
| Payments of finance lease liabilities | (13) | (6) | |||
| Common Stock repurchased | 0 | (61) | |||
| Net cash used in financing activities | 0 | (112) | |||
| Effect of exchange rate changes on cash, cash equivalents, restricted cash and cash equivalents | (76) | (48) | |||
| Net (decrease) increase in cash, cash equivalents, restricted cash and cash equivalents | (30) | 161 | |||
| Cash, cash equivalents, restricted cash and cash equivalents, beginning of the period | 3,848 | 3,363 | |||
| Cash, cash equivalents, restricted cash and cash equivalents, end of the period | 3,818 | 3,524 | |||
| Non-cash transactions: | |||||
| Right-of-use assets obtained under operating leases | 12 | 42 | |||
| Property and equipment obtained under finance leases | $ 6 | $ 11 | |||
| |||||
| 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 Increase (Decrease) In Digital Assets At Fair Value 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
|
| X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) and income tax credits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| 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
|
| 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
|
| X | ||||||||||
- Definition Amount of cash outflow for principal payment on finance lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| 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
|
| 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
|
| 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
|
| 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
|
| 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
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of increase (decrease) in operating assets classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of increase (decrease) in operating liabilities classified as other. 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
|
| 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 | ||||||||||
- References No definition available.
|
| 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
|
| 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
|
| X | ||||||||||
- Definition Amount of cash inflow from operating activities classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| 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 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
|
| 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 |
3 Months Ended |
|---|---|
Mar. 31, 2024 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| NATURE OF BUSINESS | NATURE OF BUSINESS MercadoLibre, Inc. (“MercadoLibre” and together with its consolidated entities, 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 March 31, 2024, 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
|
| X | ||||||||||
- References No definition available.
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
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| 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 have been eliminated for consolidation purposes. Substantially all net revenues and financial income, cost of net revenues and financial expenses 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 $2,297 million and $2,321 million as of March 31, 2024 and December 31, 2023, respectively. These unaudited interim condensed consolidated financial statements reflect the Company’s consolidated financial position as of March 31, 2024 and December 31, 2023. These unaudited interim condensed consolidated financial statements include the Company’s consolidated statements of income, comprehensive income, equity and cash flows for the three-month periods ended March 31, 2024 and 2023. 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, 2023, contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (“SEC”) (the “Company’s 2023 10-K”). The Company has evaluated all subsequent events through the date these unaudited interim condensed consolidated financial statements were issued. The 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 2023 10-K. During the three-month period ended March 31, 2024, there were no material updates made to the Company’s significant accounting policies. For information regarding the change in the presentation of the statements of income, please refer to section “Change in the presentation of certain financial results and reclassification of prior year results” of Note 2 – Summary of significant accounting policies of these unaudited interim condensed consolidated financial statements. Change in the presentation of certain financial results and reclassification of prior year results Change in the presentation of certain financial results Mercado Pago Fintech platform operations have significantly evolved during the last several years, not only because of the increase in the volume of transactions but also as a result of transitioning from being a non-regulated business to a regulated business, subject to the oversight of central banks and other regulators in the various countries in which the Company operates (refer to Note 3 – Fintech Regulations to the consolidated financial statements in the Company’s 2023 10-K for further details). Many of the regulations to which the Company is subject require that the Company, among other things, maintain liquidity reserves to guarantee the funds on users’ account balances in their Mercado Pago digital accounts. Depending on the country, these reserves can be partially or totally invested. During the last several years, these new regulations, coupled with the increase in the volume of transactions, have led the Company to view interest income and other financial gains from investments of these liquidity reserves as part of the Company’s operations. Furthermore, the evolution of Mercado Pago’s activities themselves has resulted in the Company managing a significant volume of cash, cash equivalents and investments. This is due to an increase in users’ account balances in their Mercado Pago digital account managed by the Company, and an increase in the level of the Company’s indebtedness to finance those operations. As a result, Mercado Pago’s available cash, together with the financing activities, have generated a significant volume of interest income and other financial gains and interest expenses and other financial losses, respectively. The Company believes that these regulatory trends and related activities will continue and, therefore, with the goal of creating a better measure of the performance of the Company, the Company decided to reclassify and present certain financial results from “Other income (expenses)” to “Net revenues and financial income” and “Cost of net revenues and financial expenses,” in the statement of income, starting January 1, 2024 and for all prior periods presented. The reclassified financial results are related to activities that are needed or mandatory for Mercado Pago’s operations, and consist of: ■interest income derived from investments, cash and cash equivalents, generated as part of the treasury strategy of the fintech business and because of the different regulations that require liquidity reserves, net of sales taxes; ■interest expense and other financing costs generated by the different sources of funding of the fintech activities; and ■gains and losses of derivatives hedging risks related to Mercado Pago’s activities. Reclassification of prior year results According to the Accounting Standards Codification (“ASC”) 205, Presentation of Financial Statements, the Company should present in a consistent manner all periods presented within the accompanying unaudited interim condensed consolidated financial statements. Therefore, prior period balances have been reclassified for consistency with the current presentation. These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s 2023 10-K. This reclassification did not have an impact on previously reported net income, earnings per share, retained earnings or other components of equity or total equity. The following tables, recast for the changes summarized above, present condensed statement of income line items affected by the revisions and reclassifications of previously reported financial statements, detailing amounts previously reported, the impact upon those line items due to reclassifications and amounts as currently revised within the financial statements:
Furthermore, the following tables, recast for the changes summarized above, present net revenues per reporting segment (which have been disaggregated by similar products and services), detailing amounts previously reported, the impact upon those line items due to reclassifications and amounts as currently revised within the financial statements for the three-month period ended March 31, 2023:
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 and disclosures 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, asset retirement obligation, compensation costs relating to the Company’s long term retention program, fair value of customer crypto-assets safeguarding assets and liabilities, fair value of certain loans payable and other financial liabilities, fair value of loans receivable, fair value of derivative instruments, income taxes, contingencies and determination of the incremental borrowing rate at commencement date of lease operating agreements. Actual results could differ from those estimates. Customer crypto-assets safeguarding assets and liabilities As of March 31, 2024 and December 31, 2023, the fair value of the crypto-assets held in customers’ names by third-party service providers that the Company recognized on its consolidated balance sheets for both the crypto-asset safeguarding liability and the corresponding safeguarding asset, which are included in “Customer crypto-assets safeguarding liabilities” and “Customer crypto-assets safeguarding assets,” respectively, was $71 million and $34 million, respectively, which consisted of $41 million and $18 million of Bitcoin, $15 million and $7 million of Ether, and $15 million and $9 million of other crypto-assets, respectively. For further information related to customer crypto-assets safeguarding assets and liabilities please refer to Note 2 to the consolidated financial statements in the Company’s 2023 10-K. Supplier finance programs The Company and certain financial institutions participate in a supplier finance program 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. As of March 31, 2024 and December 31, 2023, the obligations outstanding that the Company has confirmed as valid to the financial institutions amounted to $368 million and $381 million, respectively. For further information related to Supplier Finance Programs please refer to Note 2 to the consolidated financial statements in the Company’s 2023 10-K. 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 2023 10-K. The aggregate gain included in “Fintech services and financial income” revenues arising from financing transactions and sales of financial assets, net of the costs recognized on sale of credit card receivables, is $365 million and $336 million for the three-month periods ended March 31, 2024 and 2023, respectively. Revenues recognized under ASC 606, Revenue from contracts with customers, amounted to $3,099 million and $2,165 million for the three-month periods ended March 31, 2024 and 2023, respectively. Revenues not recognized under ASC 606 amounted to $1,234 million and $1,021 million for the three-month periods ended March 31, 2024 and 2023, 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 $40 million and $42 million as of March 31, 2024 and December 31, 2023, respectively. See Note 6 – Loans receivable, net 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 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, 2023 was $29 million, of which $18 million was recognized as revenue during the three-month period ended March 31, 2024. As of March 31, 2024, total deferred revenue recognized within current other liabilities was $38 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 (loss). Gains and losses resulting from transactions denominated in non-functional currencies are recognized in earnings. Net foreign currency transaction results are included in the interim condensed consolidated statements of income under the caption “Foreign currency losses, net”. Argentine currency status and macroeconomic outlook 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 three-month periods ended March 31, 2024 and 2023 was 51.6% and 21.7%, respectively. Additionally, Argentina's average inter-annual inflation rate was 272.8%, for the three-month period ended March 31, 2024. The Company uses Argentina’s official exchange rate to account for transactions in the Argentine segment, which as of March 31, 2024 and December 31, 2023 was 858.00 and 808.45 Argentine Pesos, respectively, against the U.S. dollar. For the three-month periods ended March 31, 2024 and 2023, Argentina’s official exchange rate against the U.S. dollar increased 6.1% and 18.0%, respectively. The average exchange rate for the three-month periods ended March 31, 2024 and 2023 was 834.46 and 192.41, respectively, resulting in an increase of 334%. 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 March 31, 2024 and December 31, 2023:
The following table provides information relating to net revenues and financial income and direct contribution (see Note 9 – Segments of these unaudited interim condensed consolidated financial statements for definition of direct contribution) for the three-month periods ended March 31, 2024 and 2023 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). Since the increase of the Argentina’s official exchange rate in December 2023, the spread of the Blue Chip Swap has declined, being 26.5% and 20.4% as of March 31, 2024 and December 31, 2023, respectively. 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). Later, the Decree No. 29/2023, modified the tax rate for the cases mentioned above under ii) and iii) from 7.5% to 17.5%. Income taxes Income taxes’ accounting policy is described in Note 2 to the consolidated financial statements in the Company’s 2023 10-K. The Company’s consolidated estimated effective tax rate for the three-month period ended March 31, 2024 as compared to the same period in 2023, decreased from 38.1% to 28.5%, mainly as a result of (i) no foreign exchange losses recognition during the period related to the acquisition of the Company's common stock in the Argentine market, which was considered as non-deductible expense, ii) lower taxable foreign exchange gains accounted for in Argentina for local tax purposes that are not recorded for accounting purposes since, under U.S. GAAP, Argentine operations’ functional currency is the U.S. dollar due to the highly inflationary status of the country, and (iii) higher deductions related to tax inflation adjustments in Argentina. 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. 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 $1 million and $10 million during the three-month periods ended March 31, 2024 and March 31, 2023, respectively. The aggregate per share effect of the income tax benefit amounted to $0.01 and $0.19 for the three-month periods ended March 31, 2024 and 2023, respectively. Furthermore, the Company recorded a social security benefit of $17 million and $18 million during the three-month periods ended March 31, 2024 and 2023, 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 interim condensed consolidated statements of income and interim condensed consolidated statements 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: i) foreign government debt securities, and ii) U.S. government debt securities. Recently Adopted Accounting Standards As of the date of issuance of these unaudited interim condensed consolidated financial statements there were no accounting pronouncements recently adopted by the Company. Recently issued accounting pronouncements not yet adopted On November 27, 2023, the FASB issued the ASU 2023-07 “Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures”. The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance should be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Company is assessing the effects that the adoption of this accounting pronouncement may have on its financial statements. On December 14, 2023, the FASB issued the ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. The amendments in this update provide more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information, requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The other amendments in this update improve the effectiveness and comparability of disclosures by adding disclosures of pretax income (or loss) and income tax expense (or benefit) and removing disclosures that no longer are considered cost beneficial or relevant. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The guidance should be applied on a prospective basis while retrospective application is permitted. The Company is assessing the effects that the adoption of this accounting pronouncement may have on its financial statements.
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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 |
3 Months Ended |
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Mar. 31, 2024 | |
| Cash and Cash Equivalents [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 2023 10-K. Brazil In March 2022, the Central Bank of Brazil announced new rules for payment institutions based on their size and complexity and raised standards for required capital. The new framework, which was effective starting in July 2023 with full implementation by January 2025, will extend the application of the rule regarding proportionality of regulatory requirements (currently applicable to conglomerates of financial institutions) to financial conglomerates led by payment institutions. The new rules require a gradual increase, between 2023 and 2025, in the regulatory capital requirements applicable to the Company’s regulated Brazilian subsidiaries based on the following schedule: from July 2023 onwards, 6.75%, from January 2024 onwards, 8.75% and from January 2025 onwards, 10.50%. On January 2, 2024, article 28 of Law 14,690 came into force, which caps the total amount that may be charged to a credit card holder in the form of interest and financial charges at the value of the original debt. The Central Bank of Brazil also defined rules on the Resolution CMN N° 5,112, clarifying the topic and defining criteria for calculating the original value of the debt in card revolving and invoice financing operations. To comply with the new regulation, Company’s subsidiaries reduced the duration of the credit card invoice financing plans since January 2024. Argentina On May 18, 2023, the Central Bank of Argentina (“CBA”) enacted a new regulation that established that QR Codes must be interoperable with credit card payments. This regulation is effective as from May 1, 2024. On September 14, 2023, the CBA issued Communication “A” 7861, establishing that starting on December 1, 2023, DEBIN (debit immediate), the main and simple 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. After several extensions of the application of the Communication "A" 7861, it came into effect as from May 1, 2024. Chile On October 12, 2022, the Chilean Congress approved the Fintech and Open-Banking Law Project, which was published on January 4, 2023, and came into effect on February 3, 2023. This law established a regulatory framework for certain technological financial services that did not have their own legal framework. These services are: (i) Alternative Transaction Systems, (ii) Crowdfunding Financing Platforms, (iii) Financial Instrument Intermediation, (iv) Order Routing, (v) Credit Advisory, and (vi) Investment Advisory. Pursuant to this law, Mercado Pago Crypto S.A. shall file a license request with the Commission for the Financial Market (“CMF” according to its Spanish acronym) in order to continue offering Order Routing services through the “buy, hold and sell” product launched in 2023 in collaboration with Ripio Chile SpA. The rules governing the specifics of this filing and the license that CMF must grant, were issued on January 12, 2024, giving Mercado Pago Crypto S.A. until February 3, 2025 to file the license request. In addition, an Open Finance System is created to allow financial service providers to exchange customer financial information. On April 8, 2024, the Cybersecurity Law was published. Although Mercado Pago Chilean entities already comply with the law’s main obligations as a result of being regulated entities, as a result of this new law, such entities will be subject to a new regulator and must comply with certain reporting requirements for cyber security incidents. We expect that the Mercado Pago Chilean entities will be required to comply with these new reporting requirements sometime during 2025 or 2026. Colombia In June 2023, MercadoPago S.A. Compañía de Financiamiento obtained a license to operate as a financial institution in Colombia, and therefore is able to offer credits, digital accounts, investments and prepaid cards. On April 22, 2024, MercadoPago S.A. Compañía de Financiamiento started operations offering, for the moment, the “Ordinary Deposit” product only and is subject to minimum capital, reporting, consumer protection and risk management requirements. Uruguay On April 12, 2024, MercadoPago Uruguay S.R.L. initiated a process with the Central Bank of Uruguay (“BCU”) to be authorized to act as a payment acquirer with transfers, as an activity related to electronic money issuances, in compliance with new regulations that came into effect on March 1, 2024. On April 17, 2024, MercadoPago Uruguay S.R.L. was approved as a participant in the automated clearing house managed by Urutec S.A. This approval allows MercadoPago Uruguay S.R.L. to participate in the fast payment system and offer a new payment method to its users: interoperable QR transfer payments. Even though the regulator initially set June 6, 2024 as the release date for interoperable QR transfer payments, this date is currently under review.
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- Definition Fintech Regulations Disclosure [Text Block] No definition available.
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- References 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”) which were fully converted or redeemed in November 2023. The conversion of these notes was included in the calculation for diluted earnings per share utilizing the “if converted” method for the three-month period ended March 31, 2023. Accordingly, conversion of these Notes was not assumed for purposes of computing diluted earnings per share if the effect was antidilutive. The denominator for diluted net income per share for the three-month period ended March 31, 2023 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 have been antidilutive. See Note 13 – Loans payable and other financial liabilities to these unaudited interim condensed consolidated financial statements and Note 17 to the financial statements for the year ended December 31, 2023, contained in the Company’s 2023 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 three-month periods ended March 31, 2024 and 2023:
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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) Cash, cash equivalents and investments from securitization transactions are restricted to the payment of amounts due to third-party investors. (2) Cash, cash equivalents, restricted cash and cash equivalents as reported in the interim condensed consolidated statements of cash flows. (3) As of March 31, 2024 and December 31, 2023, includes $2,452 million and $2,283 million, respectively, considered restricted due to the Central Bank of Brazil's mandatory guarantee. Also, as of March 31, 2024 and December 31, 2023, includes $6 million that guarantees a line of credit and is considered restricted. As of March 31, 2024, includes $5 million considered restricted due to the Central Bank of Uruguay's mandatory guarantee. (4) As of March 31, 2024, includes $35 million of collateral as part of card scheme arrangement rules in Brazil, and is considered restricted.
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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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| 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 March 31, 2024 and December 31, 2023, the components of current and non-current Loans receivable, net were as follows:
The allowance for doubtful accounts with respect to the Company’s loans receivable amounts to $1,260 million and $1,102 million as of March 31, 2024 and December 31, 2023, respectively, which includes $17 million and $18 million related to unused agreed loan commitment on credit cards portfolio presented in Other liabilities of the interim condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023, respectively. As of March 31, 2024 and December 31, 2023, the Company is exposed to off-balance sheet unused agreed loan commitments on credit cards portfolio, which expose the Company to credit risks for $1,407 million and $934 million, respectively. For the three-month periods ended March 31, 2024 and 2023, the Company recognized in Provision for doubtful accounts less than $1 million and $4 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:
As of March 31, 2024 and December 31, 2023, renegotiations represented 2.2% and 2.8% of the loans receivable portfolio, respectively. The following tables summarize the allowance for doubtful accounts activity during the three-month periods ended March 31, 2024 and 2023:
(1) The Company writes off loans when customer balance becomes 360 days past due. The decrease in write-offs for the three-month period ended March 31, 2024, compared to the same period in 2023, is mainly a consequence of better quality originations of loans receivable for the three-month period ended March 31, 2023, compared to the same period in 2022. This was partially off-set by higher originations of loans receivables for the three-month period ended March 31, 2023, compared to the same period in 2022.
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- 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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- 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:
Goodwill The changes in the carrying amount of goodwill for the three-month period ended March 31, 2024 and the year ended December 31, 2023 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 three-month periods ended March 31, 2024 and 2023 amounted to $1 million and $2 million, respectively. The following table summarizes the remaining amortization of intangible assets (in millions) with definite useful life as of March 31, 2024:
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- References No definition available.
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- Definition The entire disclosure for goodwill and intangible assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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INTANGIBLE ASSETS AT FAIR VALUE |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSETS AT FAIR VALUE | INTANGIBLE ASSETS AT FAIR VALUE The following tables present the digital assets name, cost basis, fair value, and number of units for each significant digital asset holding as of March 31, 2024 and December 31, 2023:
(1) Cost basis of the digital assets is net of $21 million of impairment losses recognized prior to the adoption of ASU 2023-08.
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- References No definition available.
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- Definition The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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SEGMENTS |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENTS | SEGMENTS 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 and financial income from external customers less direct costs, which include costs of net revenues and financial expenses, 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:
(1) Recast for consistency with the current presentation due to the change in the presentation of certain financial results. Please refer to Note 2 – Summary of significant accounting policies - Change in the presentation of certain financial results and reclassification of prior year results. The following table summarizes net revenues and financial income per reporting segment, which have been disaggregated by similar products and services for the three-month periods ended March 31, 2024 and 2023:
(1) Recast for consistency with the current presentation due to the change in the presentation of certain financial results. Please refer to Note 2 – Summary of significant accounting policies - Change in the presentation of certain financial results and reclassification of prior year results. (2) Includes final value fees and flat fees paid by sellers derived from intermediation services and related shipping and storage fees, classified fees derived from classified advertising services and ad sales. (3) Includes revenues from inventory sales and related shipping fees. (4) Includes revenues from commissions the Company charges for transactions off-platform derived from use of the Company’s payment solution and asset management product, 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, interest earned on cash and investments as part of Mercado Pago activities, including those required due to fintech regulations, net of interest gains pass through our Brazilian users in connection with our asset management product, Mercado Pago credit and debit card fees and insurtech fees. (5) Includes interest earned on loans and advances granted to merchants and consumers, and interest earned on Mercado Pago credit card transactions. (6) 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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- References No definition available.
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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 March 31, 2024 and December 31, 2023:
(1) Measured at fair value with impact on the statement of income for the application of the fair value option. (See Note 2 – Summary of significant accounting policies – Fair value option applied to certain financial instruments). (2) As of March 31, 2024 and December 31, 2023, includes $221 million and $269 million, respectively, of money market funds from securitization transactions. (See Note 5 – Cash, cash equivalents, restricted cash and cash equivalents and investments). (3) As of March 31, 2024 and December 31, 2023, includes $23 million and $23 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). 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. As of March 31, 2024 and December 31, 2023, there were no assets and liabilities measured and recorded at fair value using level 3 inputs. There were no transfers to and from Levels 1, 2 and 3 during the three-month period ended March 31, 2024, nor during the year ended December 31, 2023. The Company’s election of the fair value option applies to: i) foreign government debt securities and ii) U.S. government debt securities. The Company recognized fair value changes, which includes the related interest income of those instruments, in net revenues and financial income if it is related to Mercado Pago’s operations (please refer to Note 2 – Summary of significant accounting policies - Change in the presentation of certain financial results and reclassification of prior year results) or in interest income and other financial gains if not. Such fair value changes and interest income amount to gains of $69 million and $49 million in net revenues and financial income and to $10 million and $8 million in interest income and other financial gains, for the three-month periods ended March 31, 2024 and 2023, respectively. As of March 31, 2024 and December 31, 2023, the cost and the estimated fair value of the Company’s investment in corporate debt securities classified as available for sale amounted to $151 million and $30 million, respectively. The cost of these securities is determined under a specific identification basis. For the three-month period ended March 31, 2024, the proceeds from sales of corporate debt securities amounted to $3 million and the gross realized gains from such securities amount to less than $1 million. There were no sales of corporate debt securities during the three-month period ended March 31, 2023. The following table summarizes the net carrying amount of the corporate debt securities classified as available for sale, classified by its contractual maturities:
The following table summarizes the net carrying amount of the debt securities not classified as available for sale, classified by its contractual maturities or Management expectation to convert the investments into cash:
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 March 31, 2024 and December 31, 2023:
As of March 31, 2024 and December 31, 2023, 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 March 31, 2024 and December 31, 2023, the carrying value of the Company’s financial liabilities (except for 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 March 31, 2024 and December 31, 2023, the estimated fair value of the 2026 Sustainability Notes would be $375 million and $375 million, respectively, and the estimated fair value of the 2026 Notes would be $585 million and $599 million, respectively, which is based on Level 2 inputs.
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- References No definition available.
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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 |
3 Months Ended |
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Mar. 31, 2024 | |
| 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 to be 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 March 31, 2024, the Company had accounted for estimated liabilities involving proceeding-related contingencies and other estimated contingencies of $112 million within non-current other liabilities to cover legal actions against the Company for 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 March 31, 2024, 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 $198 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 2023 10-K. Tax Claims Brazilian preliminary injunction against the Brazilian tax authorities (withholding income tax) The tax claim related to the Brazilian preliminary injunction against the Brazilian tax authorities is described in Note 15 to the consolidated financial statements in the Company’s 2023 10-K. On April 3, 2024, the Superior Court of Justice decided to analyze whether the matter under consideration is capable of becoming a binding precedent. The Company will submit a petition claiming that the case is fully capable of being judged as a binding precedent. Management’s opinion, based on the opinion of external legal counsel, is that the risk of losing the case is probable based on the technical merits of the Company’s tax position and the existence of recent adverse decisions issued by the Superior Court of Justice. For that reason, the Company has recorded a provision for the disputed amounts, which was $338 million as of March 31, 2024, and which was recorded in non-current other liabilities in the consolidated balance sheets, net of the corresponding judicial deposits for $294 million (which includes $82 million of interest income). Interstate rate of ICMS-DIFAL on interstate sales Interstate rate of ICMS-DIFAL on interstate sales without Complementary Law 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 2023 10-K. In March 2024, one of the cases related to the State of Santa Catarina (whose risk of losing had been considered probable), received judgment in favor of the State. The remaining cases pending as of December 31, 2023 had no updates during the three-month period ended March 31, 2024. The Company maintains a $2 million provision as of March 31, 2024 for the disputed amounts related to the 3 ongoing cases whose risk of losing is considered by Management to be probable, based on the opinion of external legal counsel. Exclusion of ICMS tax benefits from federal taxes base The tax claim related to the exclusion of ICMS tax benefits from the tax base of the Corporate Income Tax (“IRPJ”) and of the Social Contribution on Net Profits (“CSLL”) is described in Note 15 to the consolidated financial statements in the Company’s 2023 10-K. On April 17, 2024, the Federal Regional Court ruled in favor of the Company. The case has not yet become final and unappealable. Management’s opinion, based on the opinion of external legal counsel, is that the risk of losing the case is not more likely than not 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. As of March 31, 2024, the total amount under dispute was $48 million. 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 for all transactions completed through the Company’s online payment solution Mercado Pago (except for certain excluded categories). 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 March 31, 2024 and December 31, 2023, Management’s estimate of the maximum potential exposure related to the Company’s buyer protection program is $4,649 million and $5,072 million, respectively, for which the Company recorded a provision of $9 million and $8 million, respectively. Commitments The Company committed to purchase cloud platform services from two U.S. suppliers based on the following terms: 1.for a total amount of $824 million, to be paid between October 1, 2021 and September 30, 2026. As of March 31, 2024, the Company had paid $461 million; and 2.for a total amount of $200 million, to be paid between September 23, 2022 and September 23, 2025. As of March 31, 2024, the Company had paid $80 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, all of which have already started operations as of March 31, 2024. Since October 2023, the Company signed 3-year agreements with certain shipping companies in Brazil, under which the Company is committed to contract a minimum amount of logistics services for a total cost of $66 million. On January 10, 2024, the Company signed a 5-year agreement for the naming rights of the Complexo Pacaembu (municipal stadium of the city of São Paulo), for a total amount of $56 million. The agreement has the option to extend the term for 5 additional independent periods of 5 years each, for the same amount indexed by the Brazilian inflation rate index IPCA.
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| X | ||||||||||
- 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 |
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LONG TERM RETENTION PROGRAM | LONG TERM RETENTION PROGRAM The following table summarizes the long term retention program accrued compensation expense for the three-month periods ended March 31, 2024 and 2023, which are payable in cash according to the decisions made by the Board of Directors (the “Board”):
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- References No definition available.
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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 |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES | LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES The following tables summarize the Company’s Loans payable and other financial liabilities as of March 31, 2024 and December 31, 2023:
(1) The carrying amount includes the effect of the derivative instrument that qualified for fair value hedge accounting. See Note 16 – Derivative instruments for further detail. See Note 14 – Securitization transactions and Note 15 – Leases to these unaudited interim condensed consolidated financial statements for details regarding the Company’s collateralized debt securitization transactions and finance lease obligations, respectively. 2.375% Sustainability Senior Notes Due 2026 and 3.125% Senior Notes Due 2031 On January 14, 2021, the Company closed a public offering of $400 million aggregate principal amount of 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”). During 2023, the Company repurchased a $9 million and $70 million principal amount of the outstanding 2026 Sustainability Notes and 2031 Notes, respectively, plus $1 million of interest accrued. The total amount paid amounted to $66 million. 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, 2023, contained in the Company’s 2023 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 could elect to convert their notes at any time before November 13, 2023. Each $1,000 principal amount of 2028 Notes was convertible into 2.2952 shares of MercadoLibre common stock. On November 13, 2023, holders of the 2028 Notes converted $439 million principal amount of 2028 Notes into 1,007,597 shares of the Company’s common stock which MercadoLibre held as treasury stock. As of December 31, 2023, no principal amount of 2028 Notes remained outstanding. For the three-month period ended March 31, 2023, the Company recognized interest expense, including the amortization of issuance costs, of $2 million. 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, 2023, contained in the Company’s 2023 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, 2023, contained in the Company’s 2023 10-K. As of March 31, 2024, 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 |
3 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 March 31, 2024:
(1) As of March 31, 2024, Loans payable owned by this trust were obtained through private placements. Mercado Crédito Consumo XXXI trust made a public bond offering in the Argentine stock market on April 8, 2024. Mercado Crédito XXI trust made a public bond offering in the Argentine stock market on April 11, 2024. 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 March 31, 2024 and December 31, 2023 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 |
3 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 March 31, 2024 and December 31, 2023:
(1) Includes discount rates of leases in local currency and U.S. dollar. The components of lease expense were 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 March 31, 2024 and December 31, 2023:
(1) Includes discount rates of leases in local currency and U.S. dollar. The components of lease expense were 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 March 31, 2024, 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 derivatives’ gain or loss is initially reported as a component of accumulated other comprehensive loss and subsequently reclassified into the interim condensed consolidated statements of income in the “Cost of net revenues and financial expenses” line item, in the same period the forecasted transaction affects earnings. As of March 31, 2024, the Company estimated that the whole amount of net derivative gains or losses related to its cash flow hedges included in accumulated other comprehensive loss will be reclassified into the interim condensed consolidated statements of income within the next 12 months. In addition, the Company has entered into swap contracts to hedge the interest rate fluctuation of its financial debt held by one of its Brazilian subsidiaries. The Company designated the swap contracts as cash flow hedges. The derivatives’ gain or loss is initially reported as a component of accumulated other comprehensive loss and subsequently reclassified into the interim condensed consolidated statements of income in the “Cost of net revenues and financial expenses” line item within the next 12 months. Fair value hedges The Company has entered into swap contracts to hedge the interest rate and the foreign currency exposure of its fixed-rate, foreign currency financial debt held by its Brazilian subsidiaries. The Company designated the swap contracts as fair value hedges. The derivatives’ gain or loss is reported in the interim condensed consolidated statements of income 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 loss. The derivative’s gain or loss is initially reported as a component of accumulated other comprehensive loss and subsequently reclassified into the interim condensed consolidated statements of income in the “Interest expense and other financial losses” and “Foreign currency losses, net” line items, in the same period that the interest expense affects earnings. Derivative instruments not designated as hedging instruments As of March 31, 2024, 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. In addition, the Company entered into full cross currency swap contracts to hedge the interest rate fluctuation and foreign currency fluctuations of its financial debt nominated in U.S. dollars held by its Brazilian subsidiaries. These transactions were not designated as hedges for accounting purposes. Finally, as of March 31, 2024, 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 March 31, 2024 and December 31, 2023 were as follows:
The effects of derivative contracts on the interim condensed consolidated statement of comprehensive income for the three-month periods ended March 31, 2024 and March 31, 2023 were as follows:
The effect of the Company’s fair value hedge relationships on the interim condensed consolidated statements of income for the three-month period ended March 31, 2024 is a net gain of $4 million, and affected Cost of net revenues and financial expenses and foreign exchange losses, net. For the three-month period ended March 31, 2023, the Company recognized a loss of $5 million that affected Cost of net revenues and financial expenses. The carrying amount of the hedged items for fair value hedges included in the “Loans payable and other financial liabilities” line item of the interim condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023 was $219 million and $216 million, respectively. The effect of the Company’s fair value hedge relationships on the interim condensed consolidated balance sheets related to cumulative basis adjustments for fair value hedges as of March 31, 2024 and December 31, 2023 is $1 million, respectively. The effects of derivative contracts not designated as hedging instruments on the interim condensed consolidated statements of income for the three-month periods ended March 31, 2024 and 2023 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 |
3 Months Ended |
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Mar. 31, 2024 | |
| 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. This Program expired on March 31, 2024. The Company acquired shares of its own common stock in the Argentine market and paid 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 and macroeconomic outlook of these unaudited interim condensed consolidated financial statements). As a result, the Company recognized foreign currency losses of $56 million for the three-month period ended March 31, 2023. During the three-month periods ended March 31, 2024, the Company had not acquired any shares under the aforementioned share repurchase program.
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- References No definition available.
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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Pay vs Performance Disclosure - USD ($) $ in Millions |
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Mar. 31, 2024 |
Dec. 31, 2023 |
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Dec. 31, 2023 |
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| Pay vs Performance Disclosure | |||||||||
| Net income | $ 344 | $ 165 | $ 359 | $ 262 | $ 201 | [1] | $ 987 | ||
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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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Insider Trading Arrangements |
3 Months Ended |
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Mar. 31, 2024 | |
| 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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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) |
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| 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 have been eliminated for consolidation purposes. Substantially all net revenues and financial income, cost of net revenues and financial expenses 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 $2,297 million and $2,321 million as of March 31, 2024 and December 31, 2023, respectively. These unaudited interim condensed consolidated financial statements reflect the Company’s consolidated financial position as of March 31, 2024 and December 31, 2023. These unaudited interim condensed consolidated financial statements include the Company’s consolidated statements of income, comprehensive income, equity and cash flows for the three-month periods ended March 31, 2024 and 2023. 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, 2023, contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (“SEC”) (the “Company’s 2023 10-K”). The Company has evaluated all subsequent events through the date these unaudited interim condensed consolidated financial statements were issued. The 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 2023 10-K. During the three-month period ended March 31, 2024, there were no material updates made to the Company’s significant accounting policies. For information regarding the change in the presentation of the statements of income, please refer to section “Change in the presentation of certain financial results and reclassification of prior year results” of Note 2 – Summary of significant accounting policies of these unaudited interim condensed consolidated financial statements.
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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 and disclosures 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, asset retirement obligation, compensation costs relating to the Company’s long term retention program, fair value of customer crypto-assets safeguarding assets and liabilities, fair value of certain loans payable and other financial liabilities, fair value of loans receivable, fair value of derivative instruments, income taxes, 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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| Customer crypto-assets safeguarding assets and liabilities | Customer crypto-assets safeguarding assets and liabilities As of March 31, 2024 and December 31, 2023, the fair value of the crypto-assets held in customers’ names by third-party service providers that the Company recognized on its consolidated balance sheets for both the crypto-asset safeguarding liability and the corresponding safeguarding asset, which are included in “Customer crypto-assets safeguarding liabilities” and “Customer crypto-assets safeguarding assets,” respectively, was $71 million and $34 million, respectively, which consisted of $41 million and $18 million of Bitcoin, $15 million and $7 million of Ether, and $15 million and $9 million of other crypto-assets, respectively.
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| Supplier finance programs | Supplier finance programs The Company and certain financial institutions participate in a supplier finance program 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.
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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 2023 10-K. The aggregate gain included in “Fintech services and financial income” revenues arising from financing transactions and sales of financial assets, net of the costs recognized on sale of credit card receivables, is $365 million and $336 million for the three-month periods ended March 31, 2024 and 2023, respectively. Revenues recognized under ASC 606, Revenue from contracts with customers, amounted to $3,099 million and $2,165 million for the three-month periods ended March 31, 2024 and 2023, respectively. Revenues not recognized under ASC 606 amounted to $1,234 million and $1,021 million for the three-month periods ended March 31, 2024 and 2023, 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 $40 million and $42 million as of March 31, 2024 and December 31, 2023, respectively. See Note 6 – Loans receivable, net 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 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 (loss). Gains and losses resulting from transactions denominated in non-functional currencies are recognized in earnings. Net foreign currency transaction results are included in the interim condensed consolidated statements of income under the caption “Foreign currency losses, net”. Argentine currency status and macroeconomic outlook 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 three-month periods ended March 31, 2024 and 2023 was 51.6% and 21.7%, respectively. Additionally, Argentina's average inter-annual inflation rate was 272.8%, for the three-month period ended March 31, 2024. The Company uses Argentina’s official exchange rate to account for transactions in the Argentine segment, which as of March 31, 2024 and December 31, 2023 was 858.00 and 808.45 Argentine Pesos, respectively, against the U.S. dollar. For the three-month periods ended March 31, 2024 and 2023, Argentina’s official exchange rate against the U.S. dollar increased 6.1% and 18.0%, respectively. The average exchange rate for the three-month periods ended March 31, 2024 and 2023 was 834.46 and 192.41, respectively, resulting in an increase of 334%. 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 March 31, 2024 and December 31, 2023:
The following table provides information relating to net revenues and financial income and direct contribution (see Note 9 – Segments of these unaudited interim condensed consolidated financial statements for definition of direct contribution) for the three-month periods ended March 31, 2024 and 2023 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). Since the increase of the Argentina’s official exchange rate in December 2023, the spread of the Blue Chip Swap has declined, being 26.5% and 20.4% as of March 31, 2024 and December 31, 2023, respectively. 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). Later, the Decree No. 29/2023, modified the tax rate for the cases mentioned above under ii) and iii) from 7.5% to 17.5%.
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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 2023 10-K. The Company’s consolidated estimated effective tax rate for the three-month period ended March 31, 2024 as compared to the same period in 2023, decreased from 38.1% to 28.5%, mainly as a result of (i) no foreign exchange losses recognition during the period related to the acquisition of the Company's common stock in the Argentine market, which was considered as non-deductible expense, ii) lower taxable foreign exchange gains accounted for in Argentina for local tax purposes that are not recorded for accounting purposes since, under U.S. GAAP, Argentine operations’ functional currency is the U.S. dollar due to the highly inflationary status of the country, and (iii) higher deductions related to tax inflation adjustments in Argentina. 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. 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 $1 million and $10 million during the three-month periods ended March 31, 2024 and March 31, 2023, respectively. The aggregate per share effect of the income tax benefit amounted to $0.01 and $0.19 for the three-month periods ended March 31, 2024 and 2023, respectively. Furthermore, the Company recorded a social security benefit of $17 million and $18 million during the three-month periods ended March 31, 2024 and 2023, 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 interim condensed consolidated statements of income and interim condensed consolidated statements 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: i) foreign government debt securities, and ii) U.S. government debt securities.
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| Recently Adopted Accounting Standards and Recently issued accounting pronouncements not yet adopted | Recently Adopted Accounting Standards As of the date of issuance of these unaudited interim condensed consolidated financial statements there were no accounting pronouncements recently adopted by the Company. Recently issued accounting pronouncements not yet adopted On November 27, 2023, the FASB issued the ASU 2023-07 “Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures”. The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance should be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Company is assessing the effects that the adoption of this accounting pronouncement may have on its financial statements. On December 14, 2023, the FASB issued the ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. The amendments in this update provide more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information, requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The other amendments in this update improve the effectiveness and comparability of disclosures by adding disclosures of pretax income (or loss) and income tax expense (or benefit) and removing disclosures that no longer are considered cost beneficial or relevant. The amendments are effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The guidance should be applied on a prospective basis while retrospective application is permitted. The Company is assessing the effects that the adoption of this accounting pronouncement may have on its financial statements.
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- Definition Supplier Finance Program, Policy No definition available.
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- Definition Disclosure of accounting policy for safeguarding liability and corresponding asset for crypto-asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- 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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- 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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- 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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- 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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- 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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- Definition Disclosure of accounting policy for revenue from contract with customer. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- 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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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Error Corrections and Prior Period Adjustments | The following tables, recast for the changes summarized above, present condensed statement of income line items affected by the revisions and reclassifications of previously reported financial statements, detailing amounts previously reported, the impact upon those line items due to reclassifications and amounts as currently revised within the financial statements:
Furthermore, the following tables, recast for the changes summarized above, present net revenues per reporting segment (which have been disaggregated by similar products and services), detailing amounts previously reported, the impact upon those line items due to reclassifications and amounts as currently revised within the financial statements for the three-month period ended March 31, 2023:
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| 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 March 31, 2024 and December 31, 2023:
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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 financial income and direct contribution (see Note 9 – Segments of these unaudited interim condensed consolidated financial statements for definition of direct contribution) for the three-month periods ended March 31, 2024 and 2023 of the Company’s Argentine subsidiaries and consolidated VIEs:
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| X | ||||||||||
- 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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| X | ||||||||||
- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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NET INCOME PER SHARE (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income Per Share of Common Stock | Net income per share of common stock is as follows for the three-month periods ended March 31, 2024 and 2023:
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| X | ||||||||||
- Definition Net income per share of common stock. No definition available.
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- References No definition available.
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CASH, CASH EQUIVALENTS, RESTRICTED CASH AND CASH EQUIVALENTS AND INVESTMENTS (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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) Cash, cash equivalents and investments from securitization transactions are restricted to the payment of amounts due to third-party investors. (2) Cash, cash equivalents, restricted cash and cash equivalents as reported in the interim condensed consolidated statements of cash flows. (3) As of March 31, 2024 and December 31, 2023, includes $2,452 million and $2,283 million, respectively, considered restricted due to the Central Bank of Brazil's mandatory guarantee. Also, as of March 31, 2024 and December 31, 2023, includes $6 million that guarantees a line of credit and is considered restricted. As of March 31, 2024, includes $5 million considered restricted due to the Central Bank of Uruguay's mandatory guarantee. (4) As of March 31, 2024, includes $35 million of collateral as part of card scheme arrangement rules in Brazil, and is considered restricted.
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the components of cash, cash equivalents, and investments. No definition available.
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LOANS RECEIVABLE, NET (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 March 31, 2024 and December 31, 2023, the components of current and non-current 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 three-month periods ended March 31, 2024 and 2023:
(1) 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
|
| 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.
|
| 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) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Composition of Goodwill and Intangible Assets | The composition of goodwill and intangible assets is as follows:
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| Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the three-month period ended March 31, 2024 and the year ended December 31, 2023 are as follows:
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| Expected Intangible Asset Amortization Expense | The following table summarizes the remaining amortization of intangible assets (in millions) with definite useful life as of March 31, 2024:
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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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INTANGIBLE ASSETS AT FAIR VALUE (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Crypto Asset Information | The following tables present the digital assets name, cost basis, fair value, and number of units for each significant digital asset holding as of March 31, 2024 and December 31, 2023:
(1) Cost basis of the digital assets is net of $21 million of impairment losses recognized prior to the adoption of ASU 2023-08.
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| X | ||||||||||
- Definition Crypto Asset, Holding No definition available.
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| X | ||||||||||
- References No definition available.
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SEGMENTS (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Performance of Company's Reporting Segments | The following tables summarize the financial performance of the Company’s reporting segments:
(1) Recast for consistency with the current presentation due to the change in the presentation of certain financial results. Please refer to Note 2 – Summary of significant accounting policies - Change in the presentation of certain financial results and reclassification of prior year results.
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| Consolidated Net Revenues by Similar Products and Services | The following table summarizes net revenues and financial income per reporting segment, which have been disaggregated by similar products and services for the three-month periods ended March 31, 2024 and 2023:
(1) Recast for consistency with the current presentation due to the change in the presentation of certain financial results. Please refer to Note 2 – Summary of significant accounting policies - Change in the presentation of certain financial results and reclassification of prior year results. (2) Includes final value fees and flat fees paid by sellers derived from intermediation services and related shipping and storage fees, classified fees derived from classified advertising services and ad sales. (3) Includes revenues from inventory sales and related shipping fees. (4) Includes revenues from commissions the Company charges for transactions off-platform derived from use of the Company’s payment solution and asset management product, 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, interest earned on cash and investments as part of Mercado Pago activities, including those required due to fintech regulations, net of interest gains pass through our Brazilian users in connection with our asset management product, Mercado Pago credit and debit card fees and insurtech fees. (5) Includes interest earned on loans and advances granted to merchants and consumers, and interest earned on Mercado Pago credit card transactions. (6) 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) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Assets and Liabilities Measured at Fair Value | The following table summarizes the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023:
(1) Measured at fair value with impact on the statement of income for the application of the fair value option. (See Note 2 – Summary of significant accounting policies – Fair value option applied to certain financial instruments). (2) As of March 31, 2024 and December 31, 2023, includes $221 million and $269 million, respectively, of money market funds from securitization transactions. (See Note 5 – Cash, cash equivalents, restricted cash and cash equivalents and investments). (3) As of March 31, 2024 and December 31, 2023, includes $23 million and $23 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).
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| Summary of Debt Securities Classified as Available for Sale | The following table summarizes the net carrying amount of the corporate debt securities classified as available for sale, classified by its contractual maturities:
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| Summary of Debt Securities Classified as Held to Maturity | The following table summarizes the net carrying amount of the debt securities not classified as available for sale, classified by its contractual maturities or Management expectation to convert the investments into cash:
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| Summary of Estimated Fair Value Level of Financial Assets and Liabilities | The following table summarizes the estimated fair value of the financial assets and liabilities of the Company not measured at fair value as of March 31, 2024 and December 31, 2023:
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- Definition Schedule of company's financial assets and liabilities. No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure 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/2009/role/commonPracticeRef
|
| X | ||||||||||
- 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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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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LONG TERM RETENTION PROGRAM (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long Term Retention Program Accrued Compensation Expense | The following table summarizes the long term retention program accrued compensation expense for the three-month periods ended March 31, 2024 and 2023, which are payable in cash according to the decisions made by the Board of Directors (the “Board”):
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| X | ||||||||||
- Definition Long term retention plan accrued compensation expense. No definition available.
|
| X | ||||||||||
- References No definition available.
|
LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 March 31, 2024 and December 31, 2023:
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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) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Securitization Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Collateralized Debt | The following table summarizes the Company’s collateralized debt under securitization transactions, as of March 31, 2024:
(1) As of March 31, 2024, Loans payable owned by this trust were obtained through private placements. Mercado Crédito Consumo XXXI trust made a public bond offering in the Argentine stock market on April 8, 2024. Mercado Crédito XXI trust made a public bond offering in the Argentine stock market on April 11, 2024.
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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 March 31, 2024 and December 31, 2023 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) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 March 31, 2024 and December 31, 2023:
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| Components of Lease Expense | The components of lease expense were 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 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.
|
DERIVATIVE INSTRUMENTS (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 March 31, 2024 and December 31, 2023 were as follows:
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| Effect of Derivative Contracts on Comprehensive Income | The effects of derivative contracts on the interim condensed consolidated statement of comprehensive income for the three-month periods ended March 31, 2024 and March 31, 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 interim condensed consolidated statements of income for the three-month periods ended March 31, 2024 and 2023 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
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ / shares in Units, $ in Millions |
3 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2024
USD ($)
$ / shares
|
Dec. 31, 2023
USD ($)
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Sep. 30, 2023
USD ($)
|
Jun. 30, 2023
USD ($)
|
Mar. 31, 2023
USD ($)
$ / shares
|
Mar. 31, 2024
USD ($)
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Dec. 31, 2023
USD ($)
|
||||
| Significant Accounting Policies [Line Items] | ||||||||||
| Long-lived assets, intangible assets and goodwill located in the foreign operations | $ 2,297 | $ 2,321 | $ 2,297 | $ 2,321 | ||||||
| Customer crypto-assets safeguarding assets | 71 | 34 | 71 | 34 | ||||||
| Supplier finance program | 368 | 381 | 368 | 381 | ||||||
| Aggregate gain included in net revenues arising from financing transactions, net of the costs recognized on sale of credit card receivables, | 365 | $ 336 | ||||||||
| Net revenues and financial income | 3,099 | 2,165 | ||||||||
| Revenue not recognized | 1,234 | $ 1,021 | ||||||||
| Allowance for doubtful accounts, loan receivables and chargebacks | 40 | 42 | 40 | 42 | ||||||
| Deferred revenue | 38 | 29 | $ 38 | 29 | ||||||
| Deferred revenue, revenue recognized | $ 18 | |||||||||
| Weighted average exchange rate increase | 834.46 | 192.41 | ||||||||
| Income tax benefit | $ (137) | $ (65) | $ (172) | $ (210) | $ (122) | [1] | $ (569) | |||
| 2028 Notes | ||||||||||
| Significant Accounting Policies [Line Items] | ||||||||||
| Effective tax rate | 38.10% | 28.50% | ||||||||
| Secretariat Of Knowledge Economy Resolution Issued | ||||||||||
| Significant Accounting Policies [Line Items] | ||||||||||
| Income tax benefit | $ 1 | $ 10 | ||||||||
| Aggregate per share effect of the Argentine tax holiday (in dollars per share) | $ / shares | $ 0.01 | $ 0.19 | ||||||||
| Social security benefit | $ 17 | $ 18 | ||||||||
| Argentina | ||||||||||
| Significant Accounting Policies [Line Items] | ||||||||||
| Annual inflation rate | 0.516 | 0.217 | ||||||||
| Foreign exchange rate | 858.00 | 808.45 | 858.00 | 808.45 | ||||||
| Percentage of increase in exchange rate | 0.061 | 0.180 | ||||||||
| Percentage of increase in weighted average exchange rate | 3.34 | |||||||||
| Spread of exchange rate | 0.265 | 0.204 | 0.265 | 0.204 | ||||||
| Bitcoin | ||||||||||
| Significant Accounting Policies [Line Items] | ||||||||||
| Customer crypto-assets safeguarding assets | $ 41 | $ 18 | $ 41 | $ 18 | ||||||
| Ether | ||||||||||
| Significant Accounting Policies [Line Items] | ||||||||||
| Customer crypto-assets safeguarding assets | 15 | 7 | 15 | 7 | ||||||
| Crypto-Asset, Other | ||||||||||
| Significant Accounting Policies [Line Items] | ||||||||||
| Customer crypto-assets safeguarding assets | $ 15 | $ 9 | $ 15 | $ 9 | ||||||
| ||||||||||
| 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.
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| X | ||||||||||
- Definition Allowance For Doubtful Accounts, Loan Receivables And Chargebacks No definition available.
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| X | ||||||||||
- Definition Annual Inflation Rate No definition available.
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| X | ||||||||||
- Definition Increase (Decrease) In Exchange Rate To U.S. Dollar No definition available.
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| X | ||||||||||
- Definition Increase (Decrease) In Weighted Exchange Rate To U.S. Dollar No definition available.
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| X | ||||||||||
- Definition Other countries long lived tangible and intangible assets. No definition available.
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| X | ||||||||||
- Definition Significant accounting policies. No definition available.
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| X | ||||||||||
- Definition Social Security Benefit No definition available.
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| X | ||||||||||
- Definition Spread Of Implicit Exchange Rate No definition available.
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| X | ||||||||||
- Definition Supplier Finance Program, Amount No definition available.
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| X | ||||||||||
- Definition Weighted Average Exchange Rate No definition available.
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| X | ||||||||||
- Definition Fair value of asset to safeguard crypto-asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| 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
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| 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
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| X | ||||||||||
- Definition Percentage 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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| X | ||||||||||
- 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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| X | ||||||||||
- 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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| 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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| 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 Amount of revenue that is not accounted for under Topic 606. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Revisions and Reclassifications of Previously Reported Income (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 |
Dec. 31, 2023 |
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Dec. 31, 2023 |
||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | $ 4,333 | $ 4,409 | $ 3,927 | $ 3,585 | $ 3,186 | [1] | $ 15,107 | ||
| Cost of net revenues and financial expenses | (2,309) | (2,359) | (1,832) | (1,754) | (1,572) | [1] | (7,517) | ||
| Gross profit | 2,024 | 2,050 | 2,095 | 1,831 | 1,614 | [1] | 7,590 | ||
| Operating expenses: | |||||||||
| Product and technology development | (458) | (686) | (396) | (368) | (381) | [1] | (1,831) | ||
| Sales and marketing | (478) | (529) | (441) | (383) | (383) | [1] | (1,736) | ||
| Provision for doubtful accounts | (374) | (299) | (277) | (222) | (252) | [1] | (1,050) | ||
| General and administrative | (186) | (201) | (196) | (189) | (180) | [1] | (766) | ||
| Total operating expenses | (1,496) | (1,715) | (1,310) | (1,162) | (1,196) | [1] | (5,383) | ||
| Income from operations | 528 | 335 | 785 | 669 | 418 | [1] | 2,207 | ||
| Other income (expenses): | |||||||||
| Interest income and other financial gains | 25 | 40 | 38 | 34 | 23 | [1] | 135 | ||
| Interest expense and other financial losses | (38) | (38) | (53) | (49) | (34) | [1] | (174) | ||
| Foreign currency losses, net | (34) | (107) | (239) | (182) | (87) | [1] | (615) | ||
| Net income before income tax expense and equity in earnings of unconsolidated entity | 481 | 230 | 531 | 472 | 320 | [1] | 1,553 | ||
| Income tax expense | (137) | (65) | (172) | (210) | (122) | [1] | (569) | ||
| Equity in earnings of unconsolidated entity | 0 | 0 | 0 | 0 | 3 | [1] | 3 | ||
| Net income | 344 | 165 | 359 | 262 | 201 | [1] | 987 | ||
| As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 3,037 | ||||||||
| Cost of net revenues and financial expenses | (1,501) | ||||||||
| Gross profit | 1,536 | ||||||||
| Operating expenses: | |||||||||
| Product and technology development | (381) | ||||||||
| Sales and marketing | (383) | ||||||||
| Provision for doubtful accounts | (252) | ||||||||
| General and administrative | (180) | ||||||||
| Total operating expenses | (1,196) | ||||||||
| Income from operations | 340 | ||||||||
| Other income (expenses): | |||||||||
| Interest income and other financial gains | 161 | ||||||||
| Interest expense and other financial losses | (94) | ||||||||
| Foreign currency losses, net | (87) | ||||||||
| Net income before income tax expense and equity in earnings of unconsolidated entity | 320 | ||||||||
| Income tax expense | (122) | ||||||||
| Equity in earnings of unconsolidated entity | 3 | ||||||||
| Net income | 201 | ||||||||
| Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 149 | ||||||||
| Cost of net revenues and financial expenses | (71) | ||||||||
| Gross profit | 78 | ||||||||
| Operating expenses: | |||||||||
| Product and technology development | 0 | ||||||||
| Sales and marketing | 0 | ||||||||
| Provision for doubtful accounts | 0 | ||||||||
| General and administrative | 0 | ||||||||
| Total operating expenses | 0 | ||||||||
| Income from operations | 78 | ||||||||
| Other income (expenses): | |||||||||
| Interest income and other financial gains | (138) | ||||||||
| Interest expense and other financial losses | 60 | ||||||||
| Foreign currency losses, net | 0 | ||||||||
| Net income before income tax expense and equity in earnings of unconsolidated entity | 0 | ||||||||
| Income tax expense | 0 | ||||||||
| Equity in earnings of unconsolidated entity | 0 | ||||||||
| Net income | 0 | ||||||||
| Service | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 3,955 | 3,898 | 3,586 | 3,221 | 2,912 | [1] | 13,617 | ||
| Service | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 2,763 | ||||||||
| Service | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 149 | ||||||||
| Product | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | $ 378 | $ 511 | $ 341 | $ 364 | 274 | [1] | $ 1,490 | ||
| Product | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 274 | ||||||||
| Product | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | $ 0 | ||||||||
| |||||||||
| X | ||||||||||
- Definition Equity In Earnings Of Unconsolidated Entity, Net Of Tax No definition available.
|
| X | ||||||||||
- Definition Interest expense and other financial charges. No definition available.
|
| X | ||||||||||
- 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
|
| 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 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
|
| X | ||||||||||
- 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
|
| 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 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 Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. 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 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.
|
| 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 of expense (reversal of expense) for expected credit loss on accounts receivable. 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. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- 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
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Reclassifications of Previously Reported Segment Information (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 |
Dec. 31, 2023 |
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Dec. 31, 2023 |
||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | $ 4,333 | $ 4,409 | $ 3,927 | $ 3,585 | $ 3,186 | [1] | $ 15,107 | ||
| As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 3,037 | ||||||||
| Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 149 | ||||||||
| Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 2,496 | 1,676 | |||||||
| Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1,837 | 1,510 | |||||||
| Services | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 2,128 | 1,415 | |||||||
| Services | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1,057 | 961 | |||||||
| Credit Revenues | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 770 | 536 | |||||||
| Operating Segments | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 3,186 | ||||||||
| Operating Segments | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 3,037 | ||||||||
| Operating Segments | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 149 | ||||||||
| Operating Segments | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1,676 | ||||||||
| Operating Segments | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1,676 | ||||||||
| Operating Segments | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1,510 | ||||||||
| Operating Segments | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1,361 | ||||||||
| Operating Segments | Fintech | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 149 | ||||||||
| Operating Segments | Brazil | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 2,571 | 1,639 | |||||||
| Operating Segments | Brazil | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1,579 | ||||||||
| Operating Segments | Brazil | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 60 | ||||||||
| Operating Segments | Brazil | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1,563 | 907 | |||||||
| Operating Segments | Brazil | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 907 | ||||||||
| Operating Segments | Brazil | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1,008 | 732 | |||||||
| Operating Segments | Brazil | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 672 | ||||||||
| Operating Segments | Brazil | Fintech | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 60 | ||||||||
| Operating Segments | Argentina | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 615 | 787 | |||||||
| Operating Segments | Argentina | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 721 | ||||||||
| Operating Segments | Argentina | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 66 | ||||||||
| Operating Segments | Argentina | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 200 | 273 | |||||||
| Operating Segments | Argentina | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 273 | ||||||||
| Operating Segments | Argentina | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 415 | 514 | |||||||
| Operating Segments | Argentina | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 448 | ||||||||
| Operating Segments | Argentina | Fintech | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 66 | ||||||||
| Operating Segments | Mexico | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 971 | 610 | |||||||
| Operating Segments | Mexico | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 591 | ||||||||
| Operating Segments | Mexico | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 19 | ||||||||
| Operating Segments | Mexico | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 613 | 398 | |||||||
| Operating Segments | Mexico | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 398 | ||||||||
| Operating Segments | Mexico | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 358 | 212 | |||||||
| Operating Segments | Mexico | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 193 | ||||||||
| Operating Segments | Mexico | Fintech | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 19 | ||||||||
| Operating Segments | Other countries | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 150 | ||||||||
| Operating Segments | Other countries | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 146 | ||||||||
| Operating Segments | Other countries | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 4 | ||||||||
| Operating Segments | Other countries | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 98 | ||||||||
| Operating Segments | Other countries | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 98 | ||||||||
| Operating Segments | Other countries | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 52 | ||||||||
| Operating Segments | Other countries | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 48 | ||||||||
| Operating Segments | Other countries | Fintech | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 4 | ||||||||
| Operating Segments | Services | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1,415 | ||||||||
| Operating Segments | Services | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1,415 | ||||||||
| Operating Segments | Services | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 961 | ||||||||
| Operating Segments | Services | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 812 | ||||||||
| Operating Segments | Services | Fintech | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 149 | ||||||||
| Operating Segments | Services | Brazil | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1,313 | 762 | |||||||
| Operating Segments | Services | Brazil | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 762 | ||||||||
| Operating Segments | Services | Brazil | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 587 | 486 | |||||||
| Operating Segments | Services | Brazil | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 426 | ||||||||
| Operating Segments | Services | Brazil | Fintech | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 60 | ||||||||
| Operating Segments | Services | Argentina | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 176 | 224 | |||||||
| Operating Segments | Services | Argentina | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 224 | ||||||||
| Operating Segments | Services | Argentina | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 295 | 353 | |||||||
| Operating Segments | Services | Argentina | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 287 | ||||||||
| Operating Segments | Services | Argentina | Fintech | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 66 | ||||||||
| Operating Segments | Services | Mexico | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 531 | 338 | |||||||
| Operating Segments | Services | Mexico | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 338 | ||||||||
| Operating Segments | Services | Mexico | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 123 | 75 | |||||||
| Operating Segments | Services | Mexico | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 56 | ||||||||
| Operating Segments | Services | Mexico | Fintech | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 19 | ||||||||
| Operating Segments | Services | Other countries | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 91 | ||||||||
| Operating Segments | Services | Other countries | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 91 | ||||||||
| Operating Segments | Services | Other countries | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 47 | ||||||||
| Operating Segments | Services | Other countries | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 43 | ||||||||
| Operating Segments | Services | Other countries | Fintech | Reclassification | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 4 | ||||||||
| Operating Segments | Product Sales | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 261 | ||||||||
| Operating Segments | Product Sales | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 261 | ||||||||
| Operating Segments | Product Sales | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 13 | ||||||||
| Operating Segments | Product Sales | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 13 | ||||||||
| Operating Segments | Product Sales | Brazil | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 145 | ||||||||
| Operating Segments | Product Sales | Brazil | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 145 | ||||||||
| Operating Segments | Product Sales | Brazil | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 5 | ||||||||
| Operating Segments | Product Sales | Brazil | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 5 | ||||||||
| Operating Segments | Product Sales | Argentina | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 49 | ||||||||
| Operating Segments | Product Sales | Argentina | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 49 | ||||||||
| Operating Segments | Product Sales | Argentina | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 2 | ||||||||
| Operating Segments | Product Sales | Argentina | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 2 | ||||||||
| Operating Segments | Product Sales | Mexico | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 60 | ||||||||
| Operating Segments | Product Sales | Mexico | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 60 | ||||||||
| Operating Segments | Product Sales | Mexico | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 2 | ||||||||
| Operating Segments | Product Sales | Mexico | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 2 | ||||||||
| Operating Segments | Product Sales | Other countries | Commerce | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 7 | ||||||||
| Operating Segments | Product Sales | Other countries | Commerce | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 7 | ||||||||
| Operating Segments | Product Sales | Other countries | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 4 | ||||||||
| Operating Segments | Product Sales | Other countries | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 4 | ||||||||
| Operating Segments | Credit Revenues | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 536 | ||||||||
| Operating Segments | Credit Revenues | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 536 | ||||||||
| Operating Segments | Credit Revenues | Brazil | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 416 | 241 | |||||||
| Operating Segments | Credit Revenues | Brazil | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 241 | ||||||||
| Operating Segments | Credit Revenues | Argentina | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 119 | 159 | |||||||
| Operating Segments | Credit Revenues | Argentina | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 159 | ||||||||
| Operating Segments | Credit Revenues | Mexico | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | $ 232 | 135 | |||||||
| Operating Segments | Credit Revenues | Mexico | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 135 | ||||||||
| Operating Segments | Credit Revenues | Other countries | Fintech | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | 1 | ||||||||
| Operating Segments | Credit Revenues | Other countries | Fintech | As reported | |||||||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||
| Net revenues and financial income | $ 1 | ||||||||
| |||||||||
| 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 of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). 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 |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Subsidiary or Equity Method Investee [Line Items] | ||
| Assets | $ 19,062 | $ 17,646 |
| Liabilities | 15,672 | 14,575 |
| Argentinean Subsidiaries | ||
| Subsidiary or Equity Method Investee [Line Items] | ||
| Assets | 3,931 | 3,298 |
| Liabilities | 2,540 | 1,878 |
| Net assets | $ 1,391 | $ 1,420 |
| 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 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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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 | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Subsidiary or Equity Method Investee [Line Items] | ||
| Net revenues and financial income | $ 3,099 | $ 2,165 |
| Direct contribution | 1,030 | 848 |
| Argentinean Subsidiaries | ||
| Subsidiary or Equity Method Investee [Line Items] | ||
| Net revenues and financial income | 615 | 787 |
| Direct contribution | $ 224 | $ 368 |
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- Definition Direct contribution. No definition available.
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| 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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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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| X | ||||||||||
- 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 | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 |
Dec. 31, 2023 |
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Dec. 31, 2023 |
||||
| Net income attributable to MercadoLibre, Inc. per common share | |||||||||
| Net income per common share, Basic (in dollars per share) | $ 6.78 | $ 4.01 | |||||||
| Net income per common share, Diluted (in dollars per share) | $ 6.78 | $ 3.97 | |||||||
| Numerator: | |||||||||
| Net income | $ 344 | $ 165 | $ 359 | $ 262 | $ 201 | [1] | $ 987 | ||
| Effect of dilutive 2028 Notes | 0 | 2 | |||||||
| Net income corresponding to common stock, Basic | 344 | 201 | |||||||
| Net income corresponding to common stock, Diluted | $ 344 | $ 203 | |||||||
| Denominator: | |||||||||
| Weighted average of outstanding common shares, Basic (in shares) | 50,697,442 | 50,245,073 | |||||||
| Adjustment for assumed conversions, Diluted (in shares) | 0 | 990,268 | |||||||
| Weighted average of outstanding common shares, Diluted (in shares) | 50,697,442 | 51,235,341 | |||||||
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- 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
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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 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
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- 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
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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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- References No definition available.
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| 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
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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 |
Mar. 31, 2024 |
Dec. 31, 2023 |
Mar. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|---|
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Cash and cash equivalents | $ 2,579 | $ 2,556 | ||
| Restricted cash and cash equivalents | 1,239 | 1,292 | ||
| Total cash, cash equivalents, restricted cash and cash equivalents | 3,818 | 3,848 | $ 3,524 | $ 3,363 |
| Total short-term investments | 3,671 | 3,480 | ||
| Long-term investments | 249 | 162 | ||
| Foreign deposits | 35 | |||
| Brazil | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Deposited in brazilian federal government bonds | 2,452 | 2,283 | ||
| Cash in bank accounts | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Cash and cash equivalents | 1,218 | 1,458 | ||
| Cash in bank accounts | Argentina | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 390 | 309 | ||
| Cash in bank accounts | Mexico | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 155 | 91 | ||
| Cash in bank accounts | Chile | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 36 | 42 | ||
| Cash in bank accounts | Uruguay | ||||
| 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 | 955 | 639 | ||
| Restricted cash and cash equivalents | 12 | 7 | ||
| Money market | Uruguay | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 3 | 2 | ||
| Time deposits | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Cash and cash equivalents | 185 | 367 | ||
| Time deposits | Mexico | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 278 | 314 | ||
| Time deposits | Chile | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 48 | 54 | ||
| Time deposits | Uruguay | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 4 | 1 | ||
| U.S. government debt securities | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Cash and cash equivalents | 221 | 60 | ||
| Foreign government debt securities | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Cash and cash equivalents | 0 | 32 | ||
| Foreign government debt securities | Brazil | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 0 | 114 | ||
| Foreign government debt securities | Uruguay | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 1 | 2 | ||
| Securitization transactions | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Restricted cash and cash equivalents | 312 | 355 | ||
| U.S. government debt securities | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Total short-term investments | 853 | 1,009 | ||
| Foreign government debt securities | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Total short-term investments | 2,745 | 2,451 | ||
| Long-term investments | 54 | 56 | ||
| Foreign government debt securities | Guarantee of line of credit | Brazil | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Total short-term investments | 6 | 6 | ||
| Foreign government debt securities | Guarantee of line of credit | Uruguay | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Total short-term investments | 5 | |||
| Time deposits | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Total short-term investments | 35 | 15 | ||
| Securitization transactions | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Long-term investments | 23 | 23 | ||
| Corporate debt securities | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Total short-term investments | 38 | 5 | ||
| Long-term investments | 113 | 25 | ||
| Equity securities held at cost | ||||
| Restricted Cash and Cash Equivalents Items [Line Items] | ||||
| Long-term investments | $ 59 | $ 58 |
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- Definition Deposited In Brazilian Federal Government Bonds No definition available.
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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 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 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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LOANS RECEIVABLE, NET - Schedule of Loans Receivable, Net (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
Mar. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|---|
| Loans and Leases Receivable Disclosure [Line Items] | ||||
| Loans receivable | $ 4,448 | $ 3,778 | ||
| Allowance for doubtful accounts | (1,243) | (1,084) | $ (1,141) | $ (1,104) |
| Loans receivable, net | 3,205 | 2,694 | ||
| On-line merchant | ||||
| Loans and Leases Receivable Disclosure [Line Items] | ||||
| Loans receivable | 445 | 429 | ||
| Allowance for doubtful accounts | (123) | (119) | (124) | (120) |
| Loans receivable, net | 322 | 310 | ||
| Consumer | ||||
| Loans and Leases Receivable Disclosure [Line Items] | ||||
| Loans receivable | 2,014 | 1,808 | ||
| Allowance for doubtful accounts | (660) | (592) | (639) | (614) |
| Loans receivable, net | 1,354 | 1,216 | ||
| In-store merchant | ||||
| Loans and Leases Receivable Disclosure [Line Items] | ||||
| Loans receivable | 450 | 332 | ||
| Allowance for doubtful accounts | (166) | (137) | $ (141) | $ (145) |
| Loans receivable, net | 284 | 195 | ||
| Credit cards | ||||
| Loans and Leases Receivable Disclosure [Line Items] | ||||
| Loans receivable | 1,539 | 1,209 | ||
| Allowance for doubtful accounts | (294) | (236) | ||
| Loans receivable, net | $ 1,245 | $ 973 |
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- Definition Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing 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. No definition available.
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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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- Definition Amortized cost, after 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/disclosureRef
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LOANS RECEIVABLE, NET - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
Dec. 31, 2023 |
|
| Receivables [Abstract] | |||
| Allowance for doubtful accounts | $ 1,260 | $ 1,102 | |
| Unused agreed loan commitment | 17 | 18 | |
| Unused agreed loan commitment | 1,407 | $ 934 | |
| Expected credit losses | $ 1 | $ 4 | |
| Percentage of loans receivable portfolio | 2.20% | 2.80% | |
| X | ||||||||||
- Definition Financing Receivable, Renegotiations, Percent Of Portfolio No definition available.
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- 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 expected credit loss for credit exposure on off-balance-sheet commitment, including but not limited to, loan commitment, standby letter of credit, financial guarantee not accounted for as insurance. 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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- 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 |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | $ 4,448 | $ 3,778 |
| 1-14 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 131 | 99 |
| 15-30 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 128 | 92 |
| 31-60 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 151 | 114 |
| 61-90 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 136 | 103 |
| 91-120 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 105 | 111 |
| 121-150 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 114 | 97 |
| 151-180 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 106 | 82 |
| 181-210 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 104 | 76 |
| 211-240 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 91 | 74 |
| 241-270 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 76 | 69 |
| 271-300 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 71 | 59 |
| 301-330 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 65 | 74 |
| 331-360 days past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 64 | 66 |
| Total past due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | 1,342 | 1,116 |
| To become due | ||
| Financing Receivable, Past Due [Line Items] | ||
| Loans receivable | $ 3,106 | $ 2,662 |
| 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/2009/role/commonPracticeRef
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| X | ||||||||||
- 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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LOANS RECEIVABLE, NET - Summary of Allowance for Uncollectible Accounts Activity (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward] | ||
| Balance at beginning of year | $ 1,084 | $ 1,104 |
| Net charged to Net Income | 371 | 240 |
| Currency translation adjustments | (14) | 30 |
| Write-offs | (198) | (233) |
| Balance at end of period | 1,243 | 1,141 |
| On-line merchant | ||
| Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward] | ||
| Balance at beginning of year | 119 | 120 |
| Net charged to Net Income | 31 | 28 |
| Currency translation adjustments | (3) | 4 |
| Write-offs | (24) | (28) |
| Balance at end of period | 123 | 124 |
| Consumer | ||
| Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward] | ||
| Balance at beginning of year | 592 | 614 |
| Net charged to Net Income | 178 | 126 |
| Currency translation adjustments | (2) | 18 |
| Write-offs | (108) | (119) |
| Balance at end of period | 660 | 639 |
| In-store merchant | ||
| Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward] | ||
| Balance at beginning of year | 137 | 145 |
| Net charged to Net Income | 60 | 29 |
| Currency translation adjustments | (3) | 2 |
| Write-offs | (28) | (35) |
| Balance at end of period | 166 | 141 |
| Credit cards | ||
| Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward] | ||
| Balance at beginning of year | 236 | 225 |
| Net charged to Net Income | 102 | 57 |
| Currency translation adjustments | (6) | 6 |
| Write-offs | (38) | (51) |
| Balance at end of period | $ 294 | $ 237 |
| 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 of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of writeoff of financing receivable, charged against allowance for credit loss. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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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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GOODWILL AND INTANGIBLE ASSETS - Composition of Goodwill and Intangible Assets (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|
| Indefinite-lived Intangible Assets [Line Items] | |||
| Goodwill | $ 158 | $ 163 | $ 153 |
| Total intangible assets | 55 | 53 | |
| Accumulated amortization | (43) | (42) | |
| Total intangible assets, net | 12 | 11 | |
| Licenses and others | |||
| Indefinite-lived Intangible Assets [Line Items] | |||
| Amortizable intangible assets | 17 | 14 | |
| Non-compete agreements | |||
| 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 | 12 | 12 | |
| Hubs network | |||
| Indefinite-lived Intangible Assets [Line Items] | |||
| Amortizable intangible assets | 4 | 4 | |
| Others | |||
| 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 |
| 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
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| 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
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| 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 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 |
3 Months Ended | 12 Months Ended |
|---|---|---|
Mar. 31, 2024 |
Dec. 31, 2023 |
|
| Goodwill [Roll Forward] | ||
| Balance, beginning of the period | $ 163 | $ 153 |
| Effect of exchange rates changes | (5) | 10 |
| Balance, end of the period | 158 | 163 |
| Brazil | ||
| Goodwill [Roll Forward] | ||
| Balance, beginning of the period | 64 | 60 |
| Effect of exchange rates changes | (2) | 4 |
| Balance, end of the period | 62 | 64 |
| 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 | 44 | 39 |
| Effect of exchange rates changes | 1 | 5 |
| Balance, end of the period | 45 | 44 |
| Chile | ||
| Goodwill [Roll Forward] | ||
| Balance, beginning of the period | 37 | 37 |
| Effect of exchange rates changes | (4) | 0 |
| Balance, end of the period | 33 | 37 |
| Colombia | ||
| Goodwill [Roll Forward] | ||
| Balance, beginning of the period | 6 | 5 |
| Effect of exchange rates changes | 0 | 1 |
| Balance, end of the period | 6 | 6 |
| 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
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| 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
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- 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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GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Goodwill and Intangible Assets Disclosure [Abstract] | ||
| Aggregate amortization expense for intangible assets | $ 1 | $ 2 |
| 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
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| X | ||||||||||
- References No definition available.
|
GOODWILL AND INTANGIBLE ASSETS - Expected Intangible Asset Amortization Expense (Details) $ in Millions |
Mar. 31, 2024
USD ($)
|
|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| For year to be ended December 31, 2024 | $ 2 |
| For year to be ended December 31, 2025 | 2 |
| For year to be ended December 31, 2026 | 2 |
| For year to be ended December 31, 2027 | 1 |
| Thereafter | 2 |
| 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
|
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- References No definition available.
|
INTANGIBLE ASSETS AT FAIR VALUE (Details) $ in Millions |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2024
USD ($)
Unit
|
Dec. 31, 2023
USD ($)
Unit
|
|
| Indefinite-lived Intangible Assets [Line Items] | ||
| Intangible assets at fair value | $ 40 | $ 24 |
| Cost Basis Of Digital Assets | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Impairment losses recognized | 21 | |
| Bitcoin | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Cost basis | 6 | 6 |
| Intangible assets at fair value | $ 29 | $ 17 |
| Number of units held | Unit | 412.7 | 412.7 |
| Ether | ||
| Indefinite-lived Intangible Assets [Line Items] | ||
| Cost basis | $ 3 | $ 3 |
| Intangible assets at fair value | $ 11 | $ 7 |
| Number of units held | Unit | 3,041.6 | 3,041.6 |
| X | ||||||||||
- Definition Crypto Asset, Cost No definition available.
|
| X | ||||||||||
- Definition Crypto Asset, Fair Value No definition available.
|
| X | ||||||||||
- Definition Crypto Asset, Number of Units No definition available.
|
| 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.
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SEGMENTS - Financial Performance of Company's Reporting Segments (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 |
Dec. 31, 2023 |
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Dec. 31, 2023 |
||||
| Segment Reporting Information [Line Items] | |||||||||
| Net revenues and financial income | $ 4,333 | $ 4,409 | $ 3,927 | $ 3,585 | $ 3,186 | [1] | $ 15,107 | ||
| Direct costs | (3,303) | (2,338) | |||||||
| Direct contribution | 1,030 | 848 | |||||||
| Operating expenses and indirect costs of net revenues and financial expenses | (502) | (430) | |||||||
| Income from operations | 528 | 335 | 785 | 669 | 418 | [1] | 2,207 | ||
| Other income (expenses): | |||||||||
| Interest income and other financial gains | 25 | 40 | 38 | 34 | 23 | [1] | 135 | ||
| Interest expense and other financial losses | (38) | (38) | (53) | (49) | (34) | [1] | (174) | ||
| Foreign currency losses, net | (34) | (107) | (239) | (182) | (87) | [1] | (615) | ||
| Net income before income tax expense and equity in earnings of unconsolidated entity | 481 | $ 230 | $ 531 | $ 472 | 320 | [1] | $ 1,553 | ||
| Operating Segments | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net revenues and financial income | 3,186 | ||||||||
| Operating Segments | Brazil | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net revenues and financial income | 2,571 | 1,639 | |||||||
| Direct costs | (2,010) | (1,318) | |||||||
| Direct contribution | 561 | 321 | |||||||
| Operating Segments | Argentina | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net revenues and financial income | 615 | 787 | |||||||
| Direct costs | (391) | (419) | |||||||
| Direct contribution | 224 | 368 | |||||||
| Operating Segments | Mexico | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net revenues and financial income | 971 | 610 | |||||||
| Direct costs | (747) | (464) | |||||||
| Direct contribution | 224 | 146 | |||||||
| Operating Segments | Other Countries | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net revenues and financial income | 176 | 150 | |||||||
| Direct costs | (155) | (137) | |||||||
| Direct contribution | $ 21 | $ 13 | |||||||
| |||||||||
| 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
|
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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
|
| 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 of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). 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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SEGMENTS - Consolidated Net Revenues by Similar Products and Services (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2024 |
Dec. 31, 2023 |
Sep. 30, 2023 |
Jun. 30, 2023 |
Mar. 31, 2023 |
Dec. 31, 2023 |
||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | $ 4,333 | $ 4,409 | $ 3,927 | $ 3,585 | $ 3,186 | [1] | $ 15,107 | ||
| Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 2,496 | 1,676 | |||||||
| Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 1,837 | 1,510 | |||||||
| Services | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 2,128 | 1,415 | |||||||
| Services | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 1,057 | 961 | |||||||
| Products Sales | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 368 | 261 | |||||||
| Products Sales | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 10 | 13 | |||||||
| Credit Revenues | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 770 | 536 | |||||||
| Operating Segments | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 3,186 | ||||||||
| Operating Segments | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 1,676 | ||||||||
| Operating Segments | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 1,510 | ||||||||
| Operating Segments | Services | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 1,415 | ||||||||
| Operating Segments | Services | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 961 | ||||||||
| Operating Segments | Credit Revenues | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 536 | ||||||||
| Operating Segments | Brazil | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 2,571 | 1,639 | |||||||
| Operating Segments | Brazil | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 1,563 | 907 | |||||||
| Operating Segments | Brazil | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 1,008 | 732 | |||||||
| Operating Segments | Brazil | Services | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 1,313 | 762 | |||||||
| Operating Segments | Brazil | Services | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 587 | 486 | |||||||
| Operating Segments | Brazil | Products Sales | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 250 | 145 | |||||||
| Operating Segments | Brazil | Products Sales | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 5 | 5 | |||||||
| Operating Segments | Brazil | Credit Revenues | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 416 | 241 | |||||||
| Operating Segments | Argentina | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 615 | 787 | |||||||
| Operating Segments | Argentina | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 200 | 273 | |||||||
| Operating Segments | Argentina | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 415 | 514 | |||||||
| Operating Segments | Argentina | Services | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 176 | 224 | |||||||
| Operating Segments | Argentina | Services | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 295 | 353 | |||||||
| Operating Segments | Argentina | Products Sales | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 24 | 49 | |||||||
| Operating Segments | Argentina | Products Sales | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 1 | 2 | |||||||
| Operating Segments | Argentina | Credit Revenues | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 119 | 159 | |||||||
| Operating Segments | Mexico | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 971 | 610 | |||||||
| Operating Segments | Mexico | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 613 | 398 | |||||||
| Operating Segments | Mexico | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 358 | 212 | |||||||
| Operating Segments | Mexico | Services | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 531 | 338 | |||||||
| Operating Segments | Mexico | Services | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 123 | 75 | |||||||
| Operating Segments | Mexico | Products Sales | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 82 | 60 | |||||||
| Operating Segments | Mexico | Products Sales | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 3 | 2 | |||||||
| Operating Segments | Mexico | Credit Revenues | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 232 | 135 | |||||||
| Operating Segments | Other Countries | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 176 | 150 | |||||||
| Operating Segments | Other Countries | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 120 | 98 | |||||||
| Operating Segments | Other Countries | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 56 | 52 | |||||||
| Operating Segments | Other Countries | Services | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 108 | 91 | |||||||
| Operating Segments | Other Countries | Services | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 52 | 47 | |||||||
| Operating Segments | Other Countries | Products Sales | Commerce | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 12 | 7 | |||||||
| Operating Segments | Other Countries | Products Sales | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | 1 | 4 | |||||||
| Operating Segments | Other Countries | Credit Revenues | Fintech | |||||||||
| Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||
| Net revenues and financial income | $ 3 | $ 1 | |||||||
| |||||||||
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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SEGMENTS - Allocation of Property and Equipment Based on Geography (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | $ 1,260 | $ 1,250 |
| US | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | 2 | 2 |
| Argentina | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | 214 | 208 |
| Brazil | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | 590 | 603 |
| Mexico | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | 363 | 345 |
| Other countries | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | 91 | 92 |
| Total Other Countries | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total property and equipment, net | $ 1,258 | $ 1,248 |
| 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
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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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SEGMENTS - Schedule of Operating Lease Right of Use Assets Based on Geography (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | $ 872 | $ 899 |
| Operating Segments | ||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | 872 | 899 |
| Operating Segments | US | ||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | 3 | 0 |
| Operating Segments | Argentina | ||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | 46 | 51 |
| Operating Segments | Brazil | ||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | 381 | 396 |
| Operating Segments | Mexico | ||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | 376 | 380 |
| Operating Segments | Other countries | ||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | 66 | 72 |
| Operating Segments | All Other Countries | ||
| Segment Reporting, Revenue Reconciling Item [Line Items] | ||
| Operating lease right-of-use assets | $ 869 | $ 899 |
| 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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- 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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SEGMENTS - Allocation of Goodwill and Intangible Assets Based on Geography (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Intangible assets at fair value | $ 40 | $ 24 |
| Total goodwill and intangible assets | 210 | 198 |
| US | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Intangible assets at fair value | 40 | 24 |
| Argentina | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total goodwill and intangible assets | 13 | 12 |
| Brazil | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total goodwill and intangible assets | 67 | 68 |
| Mexico | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total goodwill and intangible assets | 45 | 44 |
| Other countries | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total goodwill and intangible assets | 45 | 50 |
| Total Other Countries | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total goodwill and intangible assets | $ 170 | $ 174 |
| X | ||||||||||
- Definition Crypto Asset, Fair Value No definition available.
|
| 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 |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Customer crypto-assets safeguarding assets | $ 71 | $ 34 |
| Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
| Customer crypto-assets safeguarding liabilities | $ 71 | $ 34 |
| Money market | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Money markets from securitization transactions | 221 | 269 |
| Securitization transactions | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Amount due to third-party investors | 23 | 23 |
| Fair Value, Measurements, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total Assets | 5,373 | 4,775 |
| Long-term retention plan | 33 | 104 |
| Derivative Instruments | 22 | 31 |
| Customer crypto-assets safeguarding liabilities | 71 | 34 |
| Total Liabilities | 126 | 169 |
| Fair Value, Measurements, Recurring | USDC | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other Assets | 23 | 23 |
| Customer crypto-assets safeguarding assets | 71 | 34 |
| Fair Value, Measurements, Recurring | Intangible assets at fair value | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Intangible assets at fair value | 40 | 24 |
| 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 Assets | 5,279 | 4,718 |
| Long-term retention plan | 0 | 0 |
| Derivative Instruments | 0 | 0 |
| Customer crypto-assets safeguarding liabilities | 0 | 0 |
| Total Liabilities | 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 | 0 |
| Customer crypto-assets safeguarding assets | 0 | 0 |
| Fair Value, Measurements, Recurring | Quoted Prices in active markets for identical Assets (Level 1) | Intangible assets at fair value | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Intangible assets at fair value | 40 | 24 |
| Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total Assets | 94 | 57 |
| Long-term retention plan | 33 | 104 |
| Derivative Instruments | 22 | 31 |
| Customer crypto-assets safeguarding liabilities | 71 | 34 |
| Total Liabilities | 126 | 169 |
| 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 | 23 | 23 |
| Customer crypto-assets safeguarding assets | 71 | 34 |
| Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | Intangible assets at fair value | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Intangible assets at fair value | 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 | 955 | 639 |
| Restricted Cash and Cash Equivalents | 236 | 278 |
| 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 | 955 | 639 |
| Restricted Cash and Cash Equivalents | 236 | 278 |
| 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 | U.S. government debt securities | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash and Cash Equivalents | 221 | 60 |
| Investments | 853 | 1,009 |
| 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 | 221 | 60 |
| Investments | 853 | 1,009 |
| 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 | Foreign government debt securities | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash and Cash Equivalents | 0 | 32 |
| Investments | 151 | 30 |
| 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] | ||
| Cash and Cash Equivalents | 0 | 32 |
| Investments | 151 | 30 |
| 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] | ||
| 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] | ||
| Restricted Cash and Cash Equivalents | 1 | 116 |
| Investments | 2,822 | 2,530 |
| 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] | ||
| Restricted Cash and Cash Equivalents | 1 | 116 |
| Investments | 2,822 | 2,530 |
| 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] | ||
| Restricted Cash and Cash Equivalents | 0 | 0 |
| Investments | $ 0 | $ 0 |
| X | ||||||||||
- Definition Total financial assets. No definition available.
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| X | ||||||||||
- Definition Intangible Assets, Fair Value, Other Crypto Assets No definition available.
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| X | ||||||||||
- 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 of asset to safeguard crypto-asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Fair value of obligation to safeguard crypto-asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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 - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
Dec. 31, 2023 |
|
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
| Proceeds from sale of available for sale securitites | $ 3 | ||
| Maximum gross realized gains | 1 | ||
| Net Revenues And Financial Income | |||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
| Recognized gains in interest income and other financial gains | 69 | $ 49 | |
| Interest Income And Other Financial Gains | |||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
| Recognized gains in interest income and other financial gains | 10 | $ 8 | |
| Other Assets: | |||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
| Cost | 151 | $ 30 | |
| Amortization | 151 | 30 | |
| Auction Rate Securities | |||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
| Investments | 375 | 375 | |
| Auction Rate Securities | Significant other observable inputs (Level 2) | |||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
| Investments | $ 585 | $ 599 | |
| X | ||||||||||
- Definition Amortized cost 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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- Definition Amount 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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- 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 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 - Summary of Debt Securities Classified as Available for Sale (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| One year or less | $ 38 | $ 5 |
| One year to two years | 51 | 12 |
| Two years to three years | 23 | 4 |
| Three years to four years | 11 | 3 |
| Four years to five years | 28 | 6 |
| Other Assets: | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total available for sale investments | $ 151 | $ 30 |
| X | ||||||||||
- Definition Available for sale securities debt maturities four to five years fair value. No definition available.
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| X | ||||||||||
- Definition Available for sale securities debt maturities one to two years fair value. No definition available.
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- Definition Available for sale securities debt maturities three to four years fair value. No definition available.
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| X | ||||||||||
- Definition Available for sale securities debt maturities two to three years fair value. No definition available.
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- Definition Amortized cost 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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| X | ||||||||||
- Definition Amortized cost of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), with single maturity date and allocated without single maturity date, maturing 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/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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FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Summary of Debt Securities Classified as Held to Maturity (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Fair Value Disclosures [Abstract] | ||
| One year or less | $ 3,820.0 | $ 3,668.0 |
| One year to two years | 4.0 | 4.0 |
| Two years to three years | 35.0 | 0.0 |
| Three years to four years | 31.0 | 35.0 |
| Four years to five years | 5.0 | 37.0 |
| More than five years | 2.0 | 3.0 |
| Total debt securities not classified as available for sale | $ 3,897.0 | $ 3,747.0 |
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- Definition Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Four To Five Years No definition available.
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- Definition Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, More Than Five Years No definition available.
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- Definition Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, One To Two Years No definition available.
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- Definition Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Three To Four Years No definition available.
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- Definition Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Two To Three Years No definition available.
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- Definition Amount, after allowance for credit loss, of investment in debt security measured at amortized cost (held-to-maturity). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after allowance for credit loss, of investment in debt security measured at amortized cost (held-to-maturity) with single maturity date and allocated without single maturity date, maturing 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
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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 |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Reported Value Measurement | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | $ 9,871 | $ 9,351 |
| Reported Value Measurement | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 13,771 | 12,905 |
| Reported Value Measurement | Accounts payable and accrued expenses | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 2,203 | 2,117 |
| Reported Value Measurement | Funds payable to customers | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 5,059 | 4,475 |
| Reported Value Measurement | Amounts payable due to credit and debit card transactions | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 1,352 | 1,092 |
| Reported Value Measurement | Salaries and social security payable | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 498 | 441 |
| Reported Value Measurement | Loans payable and other financial liabilities | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 4,342 | 4,495 |
| Reported Value Measurement | Other liabilities | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 317 | 285 |
| Reported Value Measurement | Cash and cash equivalents | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 1,403 | 1,825 |
| Reported Value Measurement | Restricted cash and cash equivalents | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 1,002 | 898 |
| Reported Value Measurement | Investments | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 35 | 15 |
| Reported Value Measurement | Accounts receivables, net | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 170 | 156 |
| Reported Value Measurement | Credit cards | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 3,962 | 3,632 |
| Reported Value Measurement | Loans receivable, net | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 3,205 | 2,694 |
| Reported Value Measurement | Other assets | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 94 | 131 |
| Estimate Of Fair Value Measurement | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 9,866 | 9,333 |
| Estimate Of Fair Value Measurement | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 13,710 | 12,851 |
| Estimate Of Fair Value Measurement | Accounts payable and accrued expenses | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 2,203 | 2,117 |
| Estimate Of Fair Value Measurement | Funds payable to customers | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 5,059 | 4,475 |
| 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] | ||
| Total Liabilities | 1,352 | 1,092 |
| Estimate Of Fair Value Measurement | Salaries and social security payable | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 498 | 441 |
| Estimate Of Fair Value Measurement | Loans payable and other financial liabilities | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 4,281 | 4,441 |
| Estimate Of Fair Value Measurement | Other liabilities | Liabilities | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Liabilities | 317 | 285 |
| Estimate Of Fair Value Measurement | Cash and cash equivalents | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 1,403 | 1,825 |
| Estimate Of Fair Value Measurement | Restricted cash and cash equivalents | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 1,002 | 898 |
| Estimate Of Fair Value Measurement | Investments | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 35 | 15 |
| Estimate Of Fair Value Measurement | Accounts receivables, net | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 170 | 156 |
| Estimate Of Fair Value Measurement | Credit cards | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 3,962 | 3,632 |
| Estimate Of Fair Value Measurement | Loans receivable, net | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | 3,200 | 2,676 |
| Estimate Of Fair Value Measurement | Other assets | Assets | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Total Assets | $ 94 | $ 131 |
| 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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- Definition Fair value of financial and nonfinancial obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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COMMITMENTS AND CONTINGENCIES - Narrative (Details) |
1 Months Ended | 3 Months Ended | |||
|---|---|---|---|---|---|
|
Jan. 10, 2024
USD ($)
|
Apr. 08, 2022
USD ($)
|
Oct. 31, 2023
USD ($)
|
Mar. 31, 2024
USD ($)
supplier
item
|
Dec. 31, 2023
USD ($)
|
|
| Loss Contingencies [Line Items] | |||||
| Reserves for proceeding-related contingencies | $ 112,000,000 | ||||
| Aggregate amount for legal actions for which no loss amount has been accrued | 198,000,000 | ||||
| Estimated litigation liabilities | 0 | ||||
| Loss accrued for reasonably possible legal actions | 2,000,000 | ||||
| Amount under dispute | $ 48,000,000 | ||||
| Number of purchase commitments entered | supplier | 2 | ||||
| Air logistics services agreement term | 5 years | 10 years | 3 years | ||
| Committed contract, minimum annual cost | $ 56,000,000 | $ 43,000,000 | $ 66,000,000 | ||
| Cloud Platform Services | |||||
| Loss Contingencies [Line Items] | |||||
| Paid in relation to the contract | $ 461,000,000 | ||||
| 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 | 80,000,000 | ||||
| Brazilian Preliminary | |||||
| Loss Contingencies [Line Items] | |||||
| Provision for disputed amouts | 338,000,000 | ||||
| Judicial deposits | 294,000,000 | ||||
| Interest income | $ 82,000,000 | ||||
| ICMS-DIFAL | Lawsuits Filed In 2021 | |||||
| Loss Contingencies [Line Items] | |||||
| Number of lawsuits pending | item | 3,000,000 | ||||
| Buyer Protection Program | |||||
| Loss Contingencies [Line Items] | |||||
| Provision for maximum potential exposure | $ 4,649,000,000 | $ 5,072,000,000 | |||
| Product liability, contingency, recorded allowance | $ 9,000,000 | $ 8,000,000 |
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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 Income Tax Examination, Interest Income No definition available.
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- Definition Income Tax Examination, Judicial Deposits No definition available.
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- Definition Lawsuits Pending No definition available.
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- Definition Loss Contingency, Amount Under Dispute 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 Provision For Disputed Amounts No definition available.
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- Definition Purchase Commitment, Amount No definition available.
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- Definition Aggregate carrying amount of the estimated litigation liability for known or estimated probable loss from litigation, which may include attorneys' fees and other litigation costs. 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. 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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LONG TERM RETENTION PROGRAM - Long Term Retention Program Accrued Compensation Expense (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Total LTRP | $ 68 | $ 47 |
| LTRP 2018 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Total LTRP | 0 | 2 |
| LTRP 2019 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Total LTRP | 7 | 5 |
| LTRP 2020 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Total LTRP | 7 | 6 |
| LTRP 2021 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Total LTRP | 7 | 7 |
| LTRP 2022 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Total LTRP | 12 | 13 |
| LTRP 2023 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Total LTRP | 22 | 14 |
| LTRP 2024 | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Total LTRP | $ 13 | $ 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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- 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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LOANS PAYABLE AND OTHER FINANCIAL LIABILITIES - Summary of Book Value of Loans Payable and Other Financial Liabilities (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Debt Instrument [Line Items] | ||
| Loans from banks | $ 556 | $ 485 |
| Bank overdrafts | 10 | 34 |
| Secured lines of credit | 48 | 39 |
| Deposit Certificates | 831 | 976 |
| Commercial Notes | 6 | 7 |
| Finance lease obligations | 36 | 35 |
| Collateralized debt | 737 | 693 |
| Other lines of credit | 16 | 10 |
| Current loans payable and other financial liabilities | 2,246 | 2,292 |
| Loans from banks | 56 | 72 |
| Secured lines of credit | 14 | 17 |
| Financial Bills | 28 | 8 |
| Commercial Notes | 206 | 211 |
| Finance lease liabilities | 92 | 96 |
| Collateralized debt | 812 | 782 |
| Other lines of credit | 1 | 2 |
| Non Current loans payable and other financial liabilities | 2,224 | 2,203 |
| 2026 Sustainability Notes | ||
| Debt Instrument [Line Items] | ||
| Notes | 2 | 4 |
| Notes | 389 | 389 |
| 2031 Notes | ||
| Debt Instrument [Line Items] | ||
| Notes | 4 | 9 |
| Notes | $ 626 | $ 626 |
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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 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 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 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 |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Dec. 31, 2023 |
|
| Debt Instrument [Line Items] | ||
| Bank overdrafts | $ 10 | $ 34 |
| Finance lease liabilities | 128 | 131 |
| Collateralized debt | 1,549 | 1,475 |
| Other lines of credit | 17 | 12 |
| Loans payable and other financial liabilities | $ 4,470 | 4,495 |
| Loans From Banks, 8.52% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 8.52% | |
| Loans from banks | $ 104 | 104 |
| Loans From Banks, 5.90% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 5.90% | |
| Loans from banks | $ 219 | 216 |
| Loans From Banks, 9.13% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 9.13% | |
| Loans from banks | $ 62 | 50 |
| Loans From Banks, 12.99% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 12.99% | |
| Loans from banks | $ 4 | 0 |
| Bank Overdrafts, -% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 0.00% | |
| Bank overdrafts | $ 0 | 13 |
| Bank Overdrafts, -% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 0.00% | |
| Bank overdrafts | $ 4 | 20 |
| Bank Overdrafts, -% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 0.00% | |
| Bank overdrafts | $ 6 | 1 |
| Secured Lines Of Credit, 76.18% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 76.18% | |
| Secured lines of credit | $ 36 | 29 |
| Secured Lines Of Credit, 10.32% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 10.32% | |
| Secured lines of credit | $ 26 | 27 |
| Financial Bills, CDI+0.95-1.40% | ||
| Debt Instrument [Line Items] | ||
| Financial Bills | 28 | 8 |
| Deposit Certificates, 98% to 120% of CDI | ||
| Debt Instrument [Line Items] | ||
| Deposit Certificates | 739 | 703 |
| Deposit Certificates, 10.07% - 14.20% | ||
| Debt Instrument [Line Items] | ||
| Deposit Certificates | 52 | 77 |
| Deposit Certificates, 105.00% to 105.50% of CDI | ||
| Debt Instrument [Line Items] | ||
| Deposit Certificates | 40 | 196 |
| Commercial Notes, DI+0.88% | ||
| Debt Instrument [Line Items] | ||
| Commercial Notes | 72 | 78 |
| Commercial Notes, IPCA+6.41% | ||
| Debt Instrument [Line Items] | ||
| Commercial Notes | $ 140 | 140 |
| 2026 Sustainability Notes | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 2.375% | |
| Senior Notes | $ 391 | 393 |
| 2031 Notes | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 3.125% | |
| Senior Notes | $ 630 | 635 |
| Minimum | Deposit Certificates, 10.07% - 14.20% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 10.07% | |
| Maximum | Deposit Certificates, 10.07% - 14.20% | ||
| Debt Instrument [Line Items] | ||
| Debt weight average rate | 14.20% | |
| TJLP | Loans From Banks, TJLP + 0.80% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 0.80% | |
| Loans from banks | $ 9 | 9 |
| TJLP | Loans From Banks, TJLP+ 2.20% to 3.5% | ||
| Debt Instrument [Line Items] | ||
| Loans from banks | $ 164 | 178 |
| TJLP | Minimum | Loans From Banks, TJLP+ 2.20% to 3.5% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.20% | |
| TJLP | Maximum | Loans From Banks, TJLP+ 2.20% to 3.5% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 3.50% | |
| CDI | Loans From Banks, CDI + 0.81% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 0.81% | |
| Loans from banks | $ 50 | $ 0 |
| CDI | Minimum | Financial Bills, CDI+0.95-1.40% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 0.95% | |
| CDI | Minimum | Deposit Certificates, 98% to 120% of CDI | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 98.00% | |
| CDI | Minimum | Deposit Certificates, 105.00% to 105.50% of CDI | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 105.00% | |
| CDI | Maximum | Financial Bills, CDI+0.95-1.40% | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 1.40% | |
| CDI | Maximum | Deposit Certificates, 98% to 120% of CDI | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 120.00% | |
| CDI | Maximum | Deposit Certificates, 105.00% to 105.50% of CDI | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 105.50% | |
| 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% |
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- 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 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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- 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) |
3 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
|
Nov. 13, 2023
USD ($)
shares
|
Sep. 19, 2023 |
Mar. 31, 2023
USD ($)
|
Dec. 31, 2023
USD ($)
|
Mar. 31, 2024
USD ($)
|
Mar. 31, 2022
USD ($)
|
Jan. 14, 2021
USD ($)
|
Aug. 31, 2018
USD ($)
|
Aug. 24, 2018 |
|
| Revolving Credit Facility | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Borrowing under the facility | $ 0 | ||||||||
| Subsidiaries | Revolving Credit Facility | |||||||||
| 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 | $ 66,000,000 | ||||||||
| 2031 Notes | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Convertible senior notes, interest rate | 3.125% | ||||||||
| Face amount | $ 700,000,000 | ||||||||
| Repurchased principal amount | 70,000,000 | ||||||||
| 2026 Sustainability Notes | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Repurchased principal amount | 9,000,000 | ||||||||
| Sustainability Notes Due 2026 And 2031 | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Interest accrued | $ 1,000,000 | ||||||||
| 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 | ||||||||
| Amortization of debt issuance costs | $ 2,000,000 | ||||||||
| 2028 Notes | Convertible Senior Notes | Notes Converted Into Non Cash Transactions | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Total principal amount | $ 439,000,000 | ||||||||
| 2028 Notes | Convertible Senior Notes | Notes Converted Into Non Cash Transactions | Common Stock, $0.001 par value per share | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Converted shares (in shares) | shares | 1,007,597 |
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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 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 Increase for accrued, but unpaid interest on the debt instrument for the period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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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
|
| X | ||||||||||
- Definition Fair value amount of debt instrument that was repurchased. No definition available.
|
| X | ||||||||||
- 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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SECURITIZATION TRANSACTIONS - Collateralized Debt (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Dec. 31, 2023 |
|
| Debt Instrument [Line Items] | ||
| Collateralized debt | $ 1,549 | $ 1,475 |
| 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 | 17 | |
| Olimpia Fundo de Investimento Em Direitos Creditórios | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 104 | |
| Mercado Crédito II Brasil Fundo De Investimento Em Direitos Creditórios Nao Padronizados | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 185 | |
| 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 | 105 | |
| Seller Fundo De Investimento Em Direitos Creditórios | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 42 | |
| Seller Fundo De Investimento Em Direitos Creditórios | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 21 | |
| Mercado Crédito Consumo XXI | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 1 | |
| Mercado Crédito Consumo XXII | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 3 | |
| Mercado Crédito Consumo XXIII | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 3 | |
| Mercado Crédito Consumo XXIV | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 8 | |
| Mercado Crédito Consumo XXV | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 9 | |
| Mercado Crédito Consumo XXVI | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 8 | |
| Mercado Crédito Consumo XXVII | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 9 | |
| Mercado Crédito Consumo XXVIII | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 12 | |
| Mercado Crédito Consumo XXIX | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 12 | |
| Mercado Crédito Consumo XXX | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 11 | |
| Mercado Crédito Consumo XXXI | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 15 | |
| Mercado Crédito XIX | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 5 | |
| Mercado Crédito XX | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 6 | |
| Mercado Credito XXI | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 5 | |
| Fideicomiso de administración y fuente de pago CIB/3756 | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 253 | |
| Fideicomiso de administración y fuente de pago CIB/3369 | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | 31 | |
| Fideicomiso de administración y fuente de pago CIB/3369 | ||
| Debt Instrument [Line Items] | ||
| Collateralized debt | $ 275 | |
| 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% | |
| CDI | Seller Fundo De Investimento Em Direitos Creditórios | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 1.40% | |
| CDI | Seller Fundo De Investimento Em Direitos Creditórios | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 1.60% | |
| BADLAR Rate | Mercado Crédito Consumo XXI | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XXII | ||
| 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 Consumo XXVI | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XXVIII | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XXIX | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XXX | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Crédito Consumo XXXI | ||
| 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 | Mercado Crédito XX | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| BADLAR Rate | Mercado Credito XXI | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| 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 Consumo XXVI | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 100.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XXVII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 100.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XXVIII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 100.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XXIX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 75.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XXX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 75.00% | |
| BADLAR Rate | Minimum | Mercado Crédito Consumo XXXI | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 45.00% | |
| BADLAR Rate | Minimum | Mercado Crédito XIX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 100.00% | |
| BADLAR Rate | Minimum | Mercado Crédito XX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 100.00% | |
| BADLAR Rate | Minimum | Mercado Credito XXI | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 45.00% | |
| 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] | ||
| 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 Consumo XXVI | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 160.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XXVII | ||
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate | 2.00% | |
| Effective interest rate | 180.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XXVIII | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 190.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XXIX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 155.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XXX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 155.00% | |
| BADLAR Rate | Maximum | Mercado Crédito Consumo XXXI | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 125.00% | |
| BADLAR Rate | Maximum | Mercado Crédito XIX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 140.00% | |
| BADLAR Rate | Maximum | Mercado Crédito XX | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 170.00% | |
| BADLAR Rate | Maximum | Mercado Credito XXI | ||
| Debt Instrument [Line Items] | ||
| Effective interest rate | 125.00% | |
| 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 | 7.00% | |
| 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.
|
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- 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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SECURITIZATION TRANSACTIONS - Assets and Liabilities of the Trust (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Securitization Transactions [Line Items] | ||
| Restricted cash and cash equivalents | $ 1,239 | $ 1,292 |
| Credit card receivables and other means of payments, net | 3,962 | 3,632 |
| Loans receivable, net | 3,119 | 2,629 |
| Total current assets | 15,505 | 14,294 |
| Long-term investments | 249 | 162 |
| Loans receivable, net | 86 | 65 |
| Total non-current assets | 3,557 | 3,352 |
| Total assets | 19,062 | 17,646 |
| Loans payable and other financial liabilities | 2,246 | 2,292 |
| Other liabilities | 290 | 200 |
| Total current liabilities | 12,256 | 11,297 |
| Loans payable and other financial liabilities | 2,224 | 2,203 |
| Total non-current liabilities | 3,416 | 3,278 |
| Total liabilities | 15,672 | 14,575 |
| Trust Created In Brazil | ||
| Securitization Transactions [Line Items] | ||
| Restricted cash and cash equivalents | 312 | 355 |
| Credit card receivables and other means of payments, net | 89 | 105 |
| Loans receivable, net | 1,309 | 1,198 |
| Total current assets | 1,710 | 1,658 |
| Long-term investments | 23 | 23 |
| Loans receivable, net | 37 | 27 |
| Total non-current assets | 60 | 50 |
| Total assets | 1,770 | 1,708 |
| Loans payable and other financial liabilities | 737 | 693 |
| Other liabilities | 1 | 1 |
| Total current liabilities | 738 | 694 |
| Loans payable and other financial liabilities | 812 | 782 |
| Total non-current liabilities | 812 | 782 |
| Total liabilities | $ 1,550 | $ 1,476 |
| X | ||||||||||
- Definition Securitization Transactions [Line Items] No definition available.
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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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- Definition Amount, after allowance for credit loss, of financing receivable, classified as noncurrent. No definition available.
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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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| 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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LEASES - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Leases [Abstract] | ||
| Operating lease right-of-use assets | $ 872 | $ 899 |
| Operating lease liabilities | 816 | 838 |
| Property and equipment, at cost | 190 | 183 |
| Accumulated depreciation | (60) | (50) |
| Property and equipment, net | 130 | 133 |
| Loans payable and other financial liabilities | $ 128 | $ 131 |
| 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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- 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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- 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) |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| 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 | 9.00% | 9.00% |
| Weighted average discount rate, Finance leases | 38.00% | 34.00% |
| 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.
|
| 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
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LEASES - Components of Lease Expense (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Leases [Abstract] | ||
| Operating lease cost | $ 48 | $ 42 |
| Depreciation of property and equipment | 10 | 5 |
| Interest on lease liabilities | 4 | 2 |
| Total finance lease cost | $ 14 | $ 7 |
| X | ||||||||||
- Definition Finance Lease, Cost No definition available.
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| 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 - Maturities of Lease Liabilities (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Operating Leases | ||
| One year or less | $ 189 | |
| One year to two years | 175 | |
| Two years to three years | 143 | |
| Three years to four years | 128 | |
| Four years to five years | 119 | |
| Thereafter | 368 | |
| Total lease payments | 1,122 | |
| Less imputed interest | (306) | |
| Total | 816 | $ 838 |
| Finance Leases | ||
| One year or less | 52 | |
| One year to two years | 47 | |
| Two years to three years | 39 | |
| Three years to four years | 21 | |
| Four years to five years | 6 | |
| Thereafter | 0 | |
| Total lease payments | 165 | |
| Less imputed interest | (37) | |
| Finance lease liabilities | $ 128 | $ 131 |
| 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
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| 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
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| 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
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| 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
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| 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
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| 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
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| 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
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| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| 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
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| 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
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| 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.
|
| 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 |
Mar. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Designated as hedging instrument | Foreign exchange contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Notional Amount | $ 95 | $ 91 |
| Designated as hedging instrument | Cross currency swap contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Notional Amount | 229 | 244 |
| Not designated as hedging instrument | Foreign exchange contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Notional Amount | 4 | 16 |
| Not designated as hedging instrument | Interest rate swap contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Notional Amount | $ 230 | $ 245 |
| X | ||||||||||
- Definition Nominal or face amount used to calculate payment on derivative. 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. No definition available.
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| X | ||||||||||
- Details
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- Details
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DERIVATIVE INSTRUMENTS - Summary of Outstanding Derivative Instruments (Details) - USD ($) $ in Millions |
Mar. 31, 2024 |
Dec. 31, 2023 |
Mar. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|---|
| Designated as hedging instrument | ||||
| Derivatives, Fair Value [Line Items] | ||||
| Derivative | $ (2) | $ (7) | $ (10) | $ (5) |
| Cross currency swap contracts designated as fair value hedge | Other current assets | Designated as hedging instrument | ||||
| Derivatives, Fair Value [Line Items] | ||||
| Derivative | 1 | 1 | ||
| Cross currency swap contracts designated as fair value hedge | Other current liabilities | Designated as hedging instrument | ||||
| Derivatives, Fair Value [Line Items] | ||||
| Derivative | 0 | 4 | ||
| Interest rate swap contracts | Other non-current assets | Not designated as hedging instrument | ||||
| Derivatives, Fair Value [Line Items] | ||||
| Derivative | 22 | 22 | ||
| Interest rate swap contracts | Other current liabilities | Not designated as hedging instrument | ||||
| Derivatives, Fair Value [Line Items] | ||||
| Derivative | 7 | 7 | ||
| Interest rate swap contracts | Other non-current liabilities | Not designated as hedging instrument | ||||
| Derivatives, Fair Value [Line Items] | ||||
| Derivative | 12 | 10 | ||
| Cross currency swap contracts designated as net investment hedge | Other current liabilities | Designated as hedging instrument | ||||
| Derivatives, Fair Value [Line Items] | ||||
| Derivative | 2 | 6 | ||
| Foreign exchange contracts | Designated as hedging instrument | ||||
| Derivatives, Fair Value [Line Items] | ||||
| Derivative | (1) | (4) | $ (5) | $ (2) |
| Foreign exchange contracts | Other current liabilities | Designated as hedging instrument | ||||
| Derivatives, Fair Value [Line Items] | ||||
| Derivative | 1 | 3 | ||
| Foreign exchange contracts | Other current liabilities | Not 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
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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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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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DERIVATIVE INSTRUMENTS - Effect of Derivative Contracts on Comprehensive Income (Details) - Designated as hedging instrument - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Beginning Balance | $ (7) | $ (5) |
| Amount of gain recognized in other comprehensive loss | 2 | (7) |
| Amount of loss reclassified from accumulated other comprehensive loss | 3 | 2 |
| End Balance | (2) | (10) |
| Foreign exchange contracts | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Beginning Balance | (4) | (2) |
| Amount of gain recognized in other comprehensive loss | 2 | (4) |
| Amount of loss reclassified from accumulated other comprehensive loss | 1 | 1 |
| End Balance | (1) | (5) |
| Interest swap contracts designated as cash flow hedges | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Beginning Balance | (2) | |
| Amount of gain recognized in other comprehensive loss | 2 | |
| Amount of loss reclassified from accumulated other comprehensive loss | (1) | |
| End Balance | (1) | |
| Cross currency swap contracts | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Beginning Balance | (3) | (1) |
| Amount of gain recognized in other comprehensive loss | 0 | (5) |
| Amount of loss reclassified from accumulated other comprehensive loss | 2 | 2 |
| End Balance | $ (1) | $ (4) |
| 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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| X | ||||||||||
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DERIVATIVE INSTRUMENTS - Narrative (Details) - Fair Value Hedging - USD ($) $ in Millions |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
Dec. 31, 2023 |
|
| Loans Payable And Other Financial Liabilities Current | |||
| Derivatives, Fair Value [Line Items] | |||
| Carrying amount of the hedged item | $ 219 | $ 216 | |
| Fair value hedge relationships less than | 1 | $ 1 | |
| Designated as hedging instrument | Interest Expense | |||
| Derivatives, Fair Value [Line Items] | |||
| Effect of fair value relationships | $ 4 | $ 5 | |
| X | ||||||||||
- Definition Nominal or face amount used to calculate payments on the derivative liability. 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.
|
| 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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| X | ||||||||||
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| X | ||||||||||
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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 | |
|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
| Foreign exchange contracts not designated as hedging instruments recognized in Foreign currency losses, net | $ 0 | $ (6) |
| Interest rate contracts not designated as hedging instruments recognized in Interest expense and other financial losses | (2) | 2 |
| Effect of derivative contracts not designated as hedging instruments | $ (2) | $ (4) |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of realized and unrealized gain (loss) of derivative instruments not designated or qualifying as hedging instruments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| 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
|
| 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
|
SHARE REPURCHASE PROGRAM (Details) - USD ($) $ in Millions |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
Feb. 21, 2023 |
|
| Equity, Class of Treasury Stock [Line Items] | |||
| Foreign currency loss | $ 9 | $ 117 | |
| February 2023 Stock Repurchase Program | |||
| Equity, Class of Treasury Stock [Line Items] | |||
| Aggregate consideration amount of repurchase program | $ 900 | ||
| August 30, 2020 Board Authorized Repurchase Program | |||
| Equity, Class of Treasury Stock [Line Items] | |||
| Foreign currency loss | $ 56 | ||
| 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 before tax of foreign currency transaction realized and unrealized loss recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of stock repurchase plan authorized. No definition available.
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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