Trade receivables and unbilled revenues, net of allowance for credit losses, were as follows: | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | December 31, 2024 | | December 31, 2023 | | | | | | | | (in US $ millions) | | Unbilled revenues, net | 229 | | | 175 | | | 132 | | | Indirect taxes receivable | 109 | | | 49 | | | 46 | | | Trade receivables, net | 98 | | | 77 | | | 62 | | | Accrued interest | 39 | | | 19 | | | 15 | | | Other receivables | 25 | | | 22 | | | 27 | | | | 500 | | | 342 | | | 282 | |
Activity in the allowance for credit losses was as follows: | | | | | | | | | | | | | | | | | December 31, 2025 |
| December 31, 2024 | | | | | | | | | | (in US $ millions) | | | | Balance, beginning of the year | 16 | | | 13 | | | | | Provision for credit losses related to uncollectible receivables | 28 | | | 15 | | | | | Write-offs | (27) | | | (12) | | | | | Balance, end of the year | 17 | | | 16 | | | |
| | | | | | | | | | | | | | | | | | | December 31, 2025 | | December 31, 2024 | | December 31, 2023 | | | | | | | | (in US $ millions) | Loans receivable, gross(1) | 1,621 | | | 1,131 | | | 732 | | | Allowance for credit losses related to uncollectible loans receivable | (160) | | | (110) | | | (60) | | | Merchant cash advances receivable, gross | 358 | | | 234 | | | 180 | | | | | | | | | Allowance for credit losses related to uncollectible merchant cash advances receivable | (35) | | | (31) | | | (36) | | | Loans and merchant cash advances, net | 1,784 | | | 1,224 | | | 816 | |
(1) Included in the loans receivable gross balance as of December 31, 2025 is $24 million of interest receivable (December 31, 2024 - $15 million, December 31, 2023- $10 million).
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