v3.26.1
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND CASH EQUIVALENTS AND INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Cash and Cash Equivalents [Abstract]  
Schedule of Components of Cash, Cash Equivalents, Restricted Cash and Cash Equivalents and Investments
The composition of cash, cash equivalents and restricted cash and cash equivalents is as follows:

June 30, 2026December 31, 2025
(In millions)
Cash in bank accounts and digital wallets
$1,511 $2,182 
Money market (1)
1,159 856 
Time deposits979 570 
U.S. government debt securities— 46 
Foreign government debt securities— 16 
Total cash and cash equivalents3,649 3,670 
Securitization transactions (2)
311 387 
Cash in bank accounts (Central Bank of Brazil mandatory guarantee)
11,174 7,865 
Cash in bank accounts (Argentine Central Bank mandatory guarantee)
360 394 
Cash in bank accounts (Mexican National Banking and Securities Commission mandatory guarantee)
39 127 
Time deposits (Mexican National Banking and Securities Commission mandatory guarantee)
853 682 
Cash in bank accounts (Chilean Commission for the Financial Market mandatory guarantee)
244 288 
Time deposits (Chilean Commission for the Financial Market mandatory guarantee)
46 44 
Money market (held for Meli Dólar holders)67 50 
Cash in bank accounts and digital wallets (held for Meli Dólar holders)11 12 
Other restricted cash and cash equivalents9 18 
Total restricted cash and cash equivalents13,114 9,867 
Total cash, cash equivalents, restricted cash and cash equivalents (3)
$16,763 $13,537 
(1) As of June 30, 2026 includes $76 million held by special purpose entities. Please refer to Note 11 – Securitization transactions.
(2) Cash and cash equivalents from securitization transactions are restricted to the payment of amounts due to third-party investors.
(3) Cash, cash equivalents, restricted cash and cash equivalents as reported in the interim condensed consolidated statements of cash flows.
The composition of short-term and long-term investments is as follows:
June 30, 2026December 31, 2025
(In millions)
U.S. government debt securities$1,420 $1,519 
Foreign government debt securities (1)
244 817 
Foreign debt securities (2)
164 146 
Time deposits (3)
177 93 
Corporate debt securities
76 54 
Total short-term investments$2,081 $2,629 
U.S. government debt securities$548 $463 
Foreign government debt securities (4) (5)
636 836 
Securitization transactions (6)
— 8 
Corporate debt securities425 345 
Equity securities at fair value49 59 
Equity securities held at cost57 53 
Total long-term investments$1,715 $1,764 
(1) As of June 30, 2026 and December 31, 2025, includes $202 million and $786 million, respectively, foreign government debt securities that are considered restricted due to the Central Bank of Brazil’s mandatory guarantee. Also, as of June 30, 2026 and December 31, 2025, includes $16 million and $9 million, respectively, foreign government debt securities that are considered restricted due to the Central Bank of Uruguay’s mandatory guarantee.
(2) Corresponds to debt securities denominated in Brazilian Reais issued by the Instituto de Crédito Oficial of Spain and guaranteed by the Spanish government, considered restricted, which guarantee a line of credit.
(3) As of June 30, 2026 and December 31, 2025, includes $77 million and $74 million, respectively, of collateral as part of credit card scheme arrangement rules in Brazil, and which is considered restricted.
(4) Includes investments held by a consolidated VIE, in which the Company has determined that it has both the power to direct the activities that most significantly impact the VIE’s performance and the obligation to absorb losses or the right to receive benefits. As of June 30, 2026 and December 31, 2025, includes $229 million and $473 million of foreign government debt securities, respectively.
(5) As of June 30, 2026 and December 31, 2025, includes $12 million and $8 million, respectively, of foreign government debt securities considered restricted due to the Brazilian stock market's mandatory guarantee to operate with futures contracts. As of June 30, 2026 and December 31, 2025, includes $11 million and $9 million, respectively, of foreign government debt securities considered restricted, which guarantee lines of credit.
(6) Investments from securitization transactions are restricted to the payment of amounts due to third-party investors. Corresponds to foreign government debt securities.