v3.26.1
Loans and Merchant Cash Advances (Tables)
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Schedule of Loans and Merchant Cash Advances
Trade receivables and unbilled revenues, net of allowance for credit losses, were as follows:
June 30, 2026December 31, 2025
(in US $ millions)
Unbilled revenues, net250 229 
Trade receivables, net98 98 
Indirect taxes receivable57 109 
Accrued interest34 39 
Other receivables27 25 
466 500 
Activity in the allowance for credit losses was as follows for the three and six months ended:
Three months ended June 30,Six months ended June 30,
2026202520262025
(in US $ millions)
Balance, beginning of the period19 

16 17 16 
Provision for credit losses related to uncollectible receivables7 

7 13 14 
Write-offs(5)

(7)(9)(14)
Balance, end of the period21 

16 21 16 
June 30, 2026December 31, 2025
(in US $ millions)
Loans receivable, gross(1)
2,034 1,621 
Merchant cash advances receivable, gross392 358 
Allowance for credit losses related to uncollectible loans and merchant cash advances receivable
(242)(195)
Loans and merchant cash advances, net2,184 1,784 
(1) Included in the loans receivable gross balance as of June 30, 2026 is $44 million of interest receivable (December 31, 2025 - $24 million).
Schedule of Allowance for Credit Losses
The following table summarizes the activities of the Company’s allowance for credit losses related to uncollectible loans and merchant cash advances receivable for the three and six months ended June 30, 2026 and 2025:
Three months ended June 30,Six months ended June 30,
2026202520262025
(in US $ millions)
Allowance, beginning of the period220162195141
Provision for credit losses related to uncollectible loans and merchant cash advances receivable814215488
Loans and merchant cash advances receivable charged off, net of recoveries(59)(35)(107)(60)
Allowance, end of the period242169242169
Schedule of Delinquency Status
The following table presents the delinquency status of the gross amount of loans and merchant cash advances by year of origination. The delinquency status is determined based on the number of days past the contractual or expected repayment date for which the Company anticipates to receive the amounts outstanding. The "current" category represents balances that are anticipated to be repaid within 29 days of the contractual repayment dates, or are anticipated to be repaid within 29 days of the expected repayment date.
June 30, 2026
Year of origination
202620252024TotalPercent
(in US $ millions)
Current1,875 337 2 2,214 91.3 %
30-89 Days12 21 — 33 1.4 %
90-179 Days14 24 2 40 1.6 %
180+ Days37 86 16 139 5.7 %
Total1,938 468 20 2,426 100.0 %
December 31, 2025
Year of origination
20252024TotalPercent
(in US $ millions)
Current1,803 19 1,822 92.0 %
30-89 Days16 6 22 1.1 %
90-179 Days16 7 23 1.2 %
180+ Days77 35 112 5.7 %
Total1,912 67 1,979 100.0 %