Coupang (CPNG) 10-Q8 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2023	Nov. 02, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-40115
Entity Registrant Name	COUPANG, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-2810505
Entity Address, Address Line One	720 Olive Way
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Seattle
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98101
City Area Code	206
Local Phone Number	333-3839
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	CPNG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001834584
Common class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,612,984,509
Common class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		174,802,990

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Total net revenues	$ 6,183,555	$ 5,101,334	$ 17,821,974	$ 15,255,841
Cost of sales	4,617,768	3,867,446	13,312,472	11,824,754
Operating, general and administrative	1,478,303	1,156,468	4,167,601	3,626,515
Total operating cost and expenses	6,096,071	5,023,914	17,480,073	15,451,269
Operating income (loss)	87,484	77,420	341,901	(195,428)
Interest income	50,237	15,403	123,728	26,301
Interest expense	(13,295)	(6,485)	(34,386)	(19,996)
Other (expense) income, net	(7,776)	11,224	(19,556)	2,485
Income (loss) before income taxes	116,650	97,562	411,687	(186,638)
Income tax expense	25,350	6,883	84,340	7,468
Net income (loss)	$ 91,300	$ 90,679	$ 327,347	$ (194,106)
Net income (loss) attributable to Class A and Class B common stockholders per share:
Net income (loss) attributable to Class A and Class B common stockholders per share, basic (in dollars per share)	$ 0.05	$ 0.05	$ 0.18	$ (0.11)
Net income (loss) attributable to Class A and Class B common stockholders per share, diluted (in dollars per share)	$ 0.05	$ 0.05	$ 0.18	$ (0.11)
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders:
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders, basic (in shares)	1,784,363	1,767,275	1,779,606	1,762,465
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders, diluted (in shares)	1,808,311	1,790,941	1,801,006	1,762,465
Net retail sales
Total net revenues	$ 5,314,683	$ 4,540,393	$ 15,659,829	$ 13,577,665
Net other revenue
Total net revenues	$ 868,872	$ 560,941	$ 2,162,145	$ 1,678,176

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 91,300	$ 90,679	$ 327,347	$ (194,106)
Other comprehensive (loss) income:
Foreign currency translation adjustments, net of tax	(25,552)	(52,758)	(53,232)	(54,717)
Actuarial gain (loss) on defined severance benefits, net of tax	1,253	243	(7,575)	38,250
Total other comprehensive loss	(24,299)	(52,515)	(60,807)	(16,467)
Comprehensive income (loss)	$ 67,001	$ 38,164	$ 266,540	$ (210,573)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 4,857,920	$ 3,509,334
Restricted cash	400,255	176,316
Accounts receivable, net	285,081	184,463
Inventories	1,640,567	1,656,851
Prepaids and other current assets	245,868	303,166
Total current assets	7,429,691	5,830,130
Long-term restricted cash	2,435	1,624
Property and equipment, net	2,200,638	1,819,945
Operating lease right-of-use assets	1,484,273	1,405,248
Long-term lease deposits and other	445,732	455,956
Total assets	11,562,769	9,512,903
Liabilities and stockholders' equity
Accounts payable	4,616,045	3,622,332
Accrued expenses	311,886	298,869
Deferred revenue	85,529	92,361
Short-term borrowings	232,094	175,403
Current portion of long-term debt	382,430	128,936
Current portion of long-term operating lease obligations	351,025	325,924
Other current liabilities	526,765	418,681
Total current liabilities	6,505,774	5,062,506
Long-term debt	527,711	537,880
Long-term operating lease obligations	1,295,117	1,233,680
Defined severance benefits and other	305,790	264,924
Total liabilities	8,634,392	7,098,990
Contingencies (Note 11)
Stockholders' equity
Class A common stock, $0.0001 par value, 10,000,000 shares authorized, 1,611,084 and 1,597,804 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively; Class B common stock, $0.0001 par value, 250,000 shares authorized, 174,803 shares issued and outstanding as of September 30, 2023 and December 31, 2022	179	177
Additional paid-in capital	8,401,998	8,154,076
Accumulated other comprehensive (loss) income	(58,588)	2,219
Accumulated deficit	(5,415,212)	(5,742,559)
Total stockholders' equity	2,928,377	2,413,913
Total liabilities and stockholders' equity	$ 11,562,769	$ 9,512,903

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares shares in Thousands	Sep. 30, 2023	Dec. 31, 2022
Common class A
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	1,611,084	1,597,804
Common stock, shares outstanding (in shares)	1,611,084	1,597,804
Common class B
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	250,000	250,000
Common stock, shares issued (in shares)	174,803	174,803
Common stock, shares outstanding (in shares)	174,803	174,803

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Class A and Class B common stock	Additional paid-in capital	Accumulated other comprehensive (loss) income	Accumulated deficit
Beginning balance at Dec. 31, 2021	$ 2,175,957	$ 175	$ 7,874,038	$ (47,739)	$ (5,650,517)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options		2	14,996
Equity-based compensation			191,584
Foreign currency translation adjustments, net of tax	(54,717)			(54,717)
Actuarial gain (loss) on defined severance benefits, net of tax	38,250			38,250
Net income (loss)	(194,106)				(194,106)
Ending balance at Sep. 30, 2022	2,171,966	$ 177	8,080,618	(64,206)	(5,844,623)
Beginning balance (in shares) at Dec. 31, 2021		1,754,203
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net issuance of common units, equity-based compensation plan (in shares)		7,382
Issuance of common stock upon settlement of restricted stock units (in shares)		7,358
Ending balance (in shares) at Sep. 30, 2022		1,768,943
Beginning balance at Jun. 30, 2022	2,068,096	$ 177	8,014,912	(11,691)	(5,935,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options			2,631
Equity-based compensation			63,075
Foreign currency translation adjustments, net of tax	(52,758)			(52,758)
Actuarial gain (loss) on defined severance benefits, net of tax	243			243
Net income (loss)	90,679				90,679
Ending balance at Sep. 30, 2022	2,171,966	$ 177	8,080,618	(64,206)	(5,844,623)
Beginning balance (in shares) at Jun. 30, 2022		1,765,117
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net issuance of common units, equity-based compensation plan (in shares)		1,204
Issuance of common stock upon settlement of restricted stock units (in shares)		2,622
Ending balance (in shares) at Sep. 30, 2022		1,768,943
Beginning balance at Dec. 31, 2022	2,413,913	$ 177	8,154,076	2,219	(5,742,559)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options			7,825
Issuance of common stock upon settlement of restricted stock units		2	(1)
Equity-based compensation			240,098
Foreign currency translation adjustments, net of tax	(53,232)			(53,232)
Actuarial gain (loss) on defined severance benefits, net of tax	(7,575)			(7,575)
Net income (loss)	327,347				327,347
Ending balance at Sep. 30, 2023	2,928,377	$ 179	8,401,998	(58,588)	(5,415,212)
Beginning balance (in shares) at Dec. 31, 2022		1,772,607
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net issuance of common units, equity-based compensation plan (in shares)		3,511
Issuance of common stock upon settlement of restricted stock units (in shares)		9,769
Ending balance (in shares) at Sep. 30, 2023		1,785,887
Beginning balance at Jun. 30, 2023	2,775,477	$ 178	8,316,100	(34,289)	(5,506,512)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options			2,104
Issuance of common stock upon settlement of restricted stock units		1	(1)
Equity-based compensation			83,795
Foreign currency translation adjustments, net of tax	(25,552)			(25,552)
Actuarial gain (loss) on defined severance benefits, net of tax	1,253			1,253
Net income (loss)	91,300				91,300
Ending balance at Sep. 30, 2023	$ 2,928,377	$ 179	$ 8,401,998	$ (58,588)	$ (5,415,212)
Beginning balance (in shares) at Jun. 30, 2023		1,781,269
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net issuance of common units, equity-based compensation plan (in shares)		914
Issuance of common stock upon settlement of restricted stock units (in shares)		3,704
Ending balance (in shares) at Sep. 30, 2023		1,785,887

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities
Net income (loss)	$ 327,347	$ (194,106)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	197,816	174,063
Provision for severance benefits	117,243	124,056
Equity-based compensation	240,098	191,584
Non-cash operating lease expense	247,938	231,333
Other	99,594	56,536
Change in operating assets and liabilities:
Accounts receivable, net	(114,032)	(39,325)
Inventories	(86,692)	(288,761)
Other assets	(65,268)	(273,554)
Accounts payable	1,235,365	163,508
Accrued expenses	15,400	(6,359)
Other liabilities	(172,116)	(154,012)
Net cash provided by (used in) operating activities	2,042,693	(15,037)
Investing activities
Purchases of property and equipment	(662,273)	(703,074)
Proceeds from sale of property and equipment	12,461	10,600
Other investing activities	(13,898)	(25,979)
Net cash used in investing activities	(663,710)	(718,453)
Financing activities
Proceeds from issuance of common stock, equity-based compensation plan	7,826	14,998
Proceeds from short-term borrowings and long-term debt	416,508	543,185
Repayment of short-term borrowings and long-term debt	(63,654)	(337,071)
Net short-term borrowings and other financing activities	1,222	5,377
Net cash provided by financing activities	361,902	226,489
Effect of exchange rate changes on cash and cash equivalents, and restricted cash	(167,549)	(243,132)
Net increase (decrease) in cash and cash equivalents, and restricted cash	1,573,336	(750,133)
Cash and cash equivalents, and restricted cash, as of beginning of period	3,687,274	3,810,347
Cash and cash equivalents, and restricted cash, as of end of period	$ 5,260,610	$ 3,060,214

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements of Coupang, Inc. (“Coupang”) together with its wholly-owned subsidiaries (collectively, “we,” “us,” or “our”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. We based our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ materially from these estimates. The unaudited interim financial information reflects all normal recurring adjustments that are, in the opinion of management, necessary for fair presentation of the results of the interim period. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our 2022 Form 10-K. Recent Accounting Pronouncements Adopted

Net Revenues

Net Revenues	9 Months Ended
Net Revenues	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Net Revenues	Net Revenues Details of total net revenues were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Net retail sales $ 5,314,683 $ 4,540,393 $ 15,659,829 $ 13,577,665 Third-party merchant services 708,508 447,868 1,732,240 1,414,768 Other revenue 160,364 113,073 429,905 263,408 Total net revenues $ 6,183,555 $ 5,101,334 $ 17,821,974 $ 15,255,841 This level of revenue disaggregation takes into consideration how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Net retail sales are recognized from online product sales to consumers. Third-party merchant services represent commissions, advertising, logistics and fulfillment fees earned from merchants that sell their products through our online business, and delivery fees from restaurants. Other revenue includes revenue earned from our Rocket WOW membership program and various other offerings. Contract liabilities consist of payments in advance of delivery and customer loyalty credits, which are included in deferred revenue on the condensed consolidated balance sheets. We recognized revenue of $89 million and $82 million for the nine months ended September 30, 2023 and 2022, respectively, primarily related to payments in advance of delivery which were included in deferred revenue on the consolidated balance sheets as of the beginning of the respective years.

Segment Reporting

Segment Reporting	9 Months Ended
Segment Reporting	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We own and operate a retail business that primarily serves the Korean retail market. The Chief Operating Decision Maker (“CODM”) is our Chief Executive Officer. We have two operating and reportable segments: Product Commerce and Developing Offerings. These segments are based on how the CODM manages the business, allocates resources, makes operating decisions and evaluates operating performance. Product Commerce primarily includes core Korean retail (owned inventory) and marketplace offerings (third-party merchants) and Rocket Fresh, our fresh grocery category offering, as well as advertising products associated with these offerings. Revenues from Product Commerce are derived primarily from online product sales of owned inventory to customers in Korea, commissions, and logistics and fulfillment fees earned from merchants that sell products through our mobile application and website, and from Rocket WOW membership. Developing Offerings primarily includes more nascent offerings and services, including Coupang Eats, our restaurant ordering and delivery service in Korea, Coupang Play, our online content streaming service in Korea, fintech, our retail operations in Taiwan, as well as advertising products associated with these offerings. Revenues from Developing Offerings are primarily generated from online restaurant ordering and delivery services in Korea and retail operations in Taiwan. Our segment operating performance measure is segment adjusted EBITDA. Segment adjusted EBITDA is defined as income (loss) before income taxes for a period before depreciation and amortization, equity-based compensation expense, interest expense, interest income, and other income (expense), net. Segment adjusted EBITDA also excludes impairments and other items that we do not believe are reflective of our ongoing operations. We generally allocate operating expenses to the respective segments based on usage. The CODM does not evaluate segments using asset information and, accordingly, we do not report asset information by segment. Results of operations for the reportable segments and reconciliation to income (loss) before income taxes is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Net revenues Product Commerce $ 5,966,027 $ 4,947,174 $ 17,305,966 $ 14,760,758 Developing Offerings 217,528 154,160 516,008 495,083 Total net revenues $ 6,183,555 $ 5,101,334 $ 17,821,974 $ 15,255,841 Segment adjusted EBITDA Product Commerce $ 399,494 $ 239,222 $ 1,095,461 $ 339,939 Developing Offerings (160,822) (44,303) (315,646) (169,720) Total segment adjusted EBITDA $ 238,672 $ 194,919 $ 779,815 $ 170,219 Reconciling items: Depreciation and amortization $ (67,393) $ (54,424) $ (197,816) $ (174,063) Equity-based compensation (83,795) (63,075) (240,098) (191,584) Interest expense (13,295) (6,485) (34,386) (19,996) Interest income 50,237 15,403 123,728 26,301 Other (expense) income, net (7,776) 11,224 (19,556) 2,485 Income (loss) before income taxes $ 116,650 $ 97,562 $ 411,687 $ (186,638)

Equity-based Compensation Plans

Equity-based Compensation Plans	9 Months Ended
Equity-based Compensation Plans	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Equity-based Compensation Plans	Equity-based Compensation Plans Restricted Stock Units (“RSU”s) RSU activity for the nine months ended September 30, 2023 is as follows: Outstanding RSUs (in thousands, except unit price) Number of RSUs Weighted Average Grant- December 31, 2022 35,178 $ 19.29 Granted 23,760 $ 16.36 Vested (9,769) $ 20.19 Forfeited / cancelled (3,728) $ 20.41 September 30, 2023 45,441 $ 17.47 Equity-based Compensation Expense The following table presents the effects of equity-based compensation in the condensed consolidated statements of operations: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Cost of sales $ 3,567 $ 3,996 $ 10,482 $ 11,868 Operating, general and administrative 80,228 59,079 229,616 179,716 Total $ 83,795 $ 63,075 $ 240,098 $ 191,584

Defined Severance Benefits

Defined Severance Benefits	9 Months Ended
Defined Severance Benefits	Sep. 30, 2023
Retirement Benefits [Abstract]
Defined Severance Benefits	Defined Severance Benefits The following table provides the components of net periodic benefit costs and the portion of these costs charged to expense: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Current service costs $ 36,183 $ 33,066 $ 103,935 $ 109,722 Interest cost 3,749 2,446 10,422 5,777 Amortization of: Prior service credit 817 810 2,473 2,582 Net actuarial loss 392 298 413 5,975 Net periodic benefit cost $ 41,141 $ 36,620 $ 117,243 $ 124,056

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesOur tax provision from income taxes for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment. No income tax benefit was accrued for jurisdictions where we anticipate incurring a loss during the full fiscal year as the related deferred tax assets were fully offset by a valuation allowance. Our resulting effective tax rate differs from the applicable statutory rate, primarily due to the valuation allowance against its deferred tax assets, tax credits, the inclusion of the global intangible low-taxed income (GILTI) provisions and other permanent differences.

Net Income (Loss) per Share

Net Income (Loss) per Share	9 Months Ended
Net Income (Loss) per Share	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income (Loss) per Share	Net Income (Loss) per ShareWe compute net income (loss) per share using the two-class method required for multiple classes of common stock and participating securities. As the liquidation and dividend rights are identical, the undistributed earnings or loss are allocated on a proportionate basis to each class of common stock, and the resulting basic and diluted net income (loss) per share attributable to common stockholders are therefore the same for Class A and Class B common stock on both an individual and a combined basis. Basic net income (loss) per share is computed using the weighted-average number of shares of Class A and Class B common stock outstanding during the period. Diluted net income (loss) per share is computed using the weighted-average number of shares of Class A and Class B common stock and potentially dilutive Class A and Class B potential common shares outstanding during the period. The following table presents the calculation of basic and diluted net income (loss) per share: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2023 2022 2023 2022 Numerator: Net income (loss) $ 91,300 $ 90,679 $ 327,347 $ (194,106) Denominator: Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders: Basic 1,784,363 1,767,275 1,779,606 1,762,465 Dilutive effect of equity compensation awards 23,948 23,666 21,400 — Diluted 1,808,311 1,790,941 1,801,006 1,762,465 Net income (loss) attributable to Class A and Class B common stockholders per share: Basic $ 0.05 $ 0.05 $ 0.18 $ (0.11) Diluted $ 0.05 $ 0.05 $ 0.18 $ (0.11) Anti-dilutive shares (rounded) 2,000 6,000 4,000 25,000

Fair Value Measurement

Fair Value Measurement	9 Months Ended
Fair Value Measurement	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP established a hierarchy framework to classify the fair value measurement into one of the three levels based on the observability of significant inputs to the measurement. The following table summarizes our financial assets and financial liabilities that are measured at fair value on a recurring basis: (in thousands) Classification Measurement Level September 30, 2023 December 31, 2022 Financial assets Cash deposits (1) Cash and cash equivalents Level 1 $ 4,857,920 $ 3,509,334 Cash and time deposits Restricted cash Level 1 $ 320,341 $ 99,730 Money market trust Restricted cash Level 1 $ 79,914 $ 76,586 Time deposits Other current assets Level 1 $ 35,321 $ 17,754 Cash and time deposits Long-term restricted cash Level 1 $ 2,435 $ 1,624 (1) Cash deposits includes bank deposits, money market trusts and time deposits. The carrying value approximates fair value because maturities are less than three months.

Supplemental Financial Informat

Supplemental Financial Information	9 Months Ended
Supplemental Financial Information	Sep. 30, 2023
Quarterly Financial Information Disclosure [Abstract]
Supplemental Financial Information	Supplemental Financial Information Supplemental Disclosure of Cash flow Information Nine Months Ended September 30, (in thousands) 2023 2022 Supplemental disclosure of cash flow information Cash paid for income taxes, net of refunds $ 49,191 $ 2,851 Cash paid for interest $ 20,418 $ 17,142 Cash paid for the amount used to measure the operating lease liabilities $ 325,381 $ 273,485 Operating lease assets obtained in exchange for lease obligations $ 321,476 $ 355,149 Net increase to operating lease right-of-use assets resulting from remeasurements of lease obligations $ 76,823 $ 4,637 Non-cash investing and financing activities Increase (decrease) in property and equipment-related accounts payable $ 13,585 $ (72,052) Supplier Financing Arrangements We have agreements with third-party financial institutions to facilitate participating vendors’ and suppliers’ ability to settle payment obligations from us to designated third-party financial institutions. Participating vendors and suppliers may, at their sole discretion, settle obligations prior to their scheduled due dates at a discounted price to the participating financial institutions. The invoices that have been confirmed as valid under the program require payment, in full, based on the original standard invoice terms. Confirmed invoices owed to financial institutions under these programs are included within accounts payable and were $431 million and $337 million as of September 30, 2023 and December 31, 2022, respectively. Coupang or the financial institutions may terminate the agreement upon given notice. Fulfillment Center Fire In June 2021, a fire extensively damaged our Deokpyeong fulfillment center (“FC Fire”) resulting in a loss of the inventory, building, equipment, and other assets at the site. While we are insured on property losses from the FC Fire, investigations surrounding the fire continue. In September 2023 we received an additional refundable insurance cash advance payment of $59 million. We previously received a refundable cash advance payment in December 2022. We have recorded these refundable advances within other current liabilities when received and have not recognized any insurance benefit in our consolidated statements of operations to date. Whether and to what extent the advances will become non-refundable or additional proceeds will be received is currently unknown. Accumulated Other Comprehensive (Loss) Income

Supplemental Financial Inform_2

Supplemental Financial Information	9 Months Ended
Supplemental Financial Information	Sep. 30, 2023
Quarterly Financial Information Disclosure [Abstract]
Supplemental Financial Information	Supplemental Financial Information Supplemental Disclosure of Cash flow Information Nine Months Ended September 30, (in thousands) 2023 2022 Supplemental disclosure of cash flow information Cash paid for income taxes, net of refunds $ 49,191 $ 2,851 Cash paid for interest $ 20,418 $ 17,142 Cash paid for the amount used to measure the operating lease liabilities $ 325,381 $ 273,485 Operating lease assets obtained in exchange for lease obligations $ 321,476 $ 355,149 Net increase to operating lease right-of-use assets resulting from remeasurements of lease obligations $ 76,823 $ 4,637 Non-cash investing and financing activities Increase (decrease) in property and equipment-related accounts payable $ 13,585 $ (72,052) Supplier Financing Arrangements We have agreements with third-party financial institutions to facilitate participating vendors’ and suppliers’ ability to settle payment obligations from us to designated third-party financial institutions. Participating vendors and suppliers may, at their sole discretion, settle obligations prior to their scheduled due dates at a discounted price to the participating financial institutions. The invoices that have been confirmed as valid under the program require payment, in full, based on the original standard invoice terms. Confirmed invoices owed to financial institutions under these programs are included within accounts payable and were $431 million and $337 million as of September 30, 2023 and December 31, 2022, respectively. Coupang or the financial institutions may terminate the agreement upon given notice. Fulfillment Center Fire In June 2021, a fire extensively damaged our Deokpyeong fulfillment center (“FC Fire”) resulting in a loss of the inventory, building, equipment, and other assets at the site. While we are insured on property losses from the FC Fire, investigations surrounding the fire continue. In September 2023 we received an additional refundable insurance cash advance payment of $59 million. We previously received a refundable cash advance payment in December 2022. We have recorded these refundable advances within other current liabilities when received and have not recognized any insurance benefit in our consolidated statements of operations to date. Whether and to what extent the advances will become non-refundable or additional proceeds will be received is currently unknown. Accumulated Other Comprehensive (Loss) Income

Short-term Borrowings and Long-

Short-term Borrowings and Long-term Debt	9 Months Ended
Short-term Borrowings and Long-term Debt	Sep. 30, 2023
Debt Disclosure [Abstract]
Short-term Borrowings and Long-term Debt	Short-term Borrowings and Long-term Debt Our short-term borrowings generally include lines of credit and term loan facilities with financial institutions to be utilized for general operating purposes. In April 2023, we entered into a new one-year $59 million credit loan facility for general operating purposes. The loan bears interest at the average of 91-day CD interest rate plus 4.40%. In September 2023, we modified our existing one-year term syndicated loan agreement and extended the maturity date to September 2024. The remaining $67 million outstanding bears interest at a rate of 5.56%. Our long-term debt generally includes revolving credit facilities and various loan agreements for general operating purposes, and term loan facilities. As of September 30, 2023 and December 31, 2022, there were $910 million and $667 million, respectively, of loans outstanding under these agreements, net of unamortized discounts. In April 2023, we entered into a new three-year $171 million term loan facility agreement to finance the purchase of a fulfillment center and land. We pledged up to $205 million of certain land and buildings as collateral. The loan bears interest at a fixed rate of 6.76%. Our 2021 revolving credit facility was amended in accordance with the agreement to provide for the replacement of the London Inter-bank offered rate (“LIBOR”) with an alternative benchmark rate. Effective July 1, 2023, the facility replaced the LIBOR rate with the Secured Overnight Funding Rate (“SOFR”). Borrowings under the 2021 revolving credit facility will bear interest, at our option, at a rate per annum equal to (i) a base rate equal to the highest of (A) the prime rate, (B) the higher of the federal funds rate or a composite overnight bank borrowing rate plus 0.50%, or (C) an adjusted Term SOFR rate for a one-month interest period plus 1.00% or (ii) an adjusted Term SOFR plus a margin equal to 1.00%. No borrowings have been made under the facility. Our debt is recorded at amortized cost. The fair value is estimated using Level 2 inputs based on our current interest rate for similar types of borrowing arrangements. The carrying amount of debt approximates its fair value as of September 30, 2023 and December 31, 2022 due primarily to the interest rates approximating market interest rates. We were in compliance with the covenants for each of our borrowings and debt agreements as of September 30, 2023.

Contingencies

Contingencies	9 Months Ended
Contingencies	Sep. 30, 2023
Loss Contingency [Abstract]
Contingencies	Contingencies Legal Matters From time to time, we may become party to claims, investigations, proceedings, and other litigation, in the ordinary course of business. We assess the likelihood of any adverse judgments or outcomes with respect to these matters and determine loss contingency assessments on a gross basis after assessing the probability of incurrence of a loss and whether a loss is reasonably estimable. In addition, we consider other relevant factors that could impact our ability to reasonably estimate a loss. A determination of the amount of reserves required, if any, for these contingencies is made after analyzing each matter. Our reserves may change in the future due to new developments or changes in strategy in handling these matters. Although the results of these matters cannot be predicted with certainty, we currently believe that the final outcome of currently pending legal matters will not have a material adverse effect on our business, consolidated financial position, results of operations, or cash flows. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources, and other factors. Litigation On August 26, 2022, a putative class action was filed on behalf of all purchasers of Coupang Class A common stock pursuant and/or traceable to Coupang’s registration statement issued in connection with our initial public offering. Choi v. Coupang, Inc et al was brought against Coupang, Inc., and certain of its former and current directors, current officers, and certain underwriters of the offering. The action was filed in the United States District Court for the Southern District of New York alleging inaccurate and misleading or omitted statements of material fact in Coupang's Registration Statement in violation of Sections 11, 12 and 15 of the Securities Act of 1933. The action was amended on May 22, 2023, and added allegations of securities fraud under Sections 10 and 20 of the Securities Exchange Act of 1934. The action seeks unspecified compensatory damages, attorneys’ fees, and reasonable costs and expenses. In August 2023, two separate stockholders’ derivative actions related to the securities class action were filed in the United States District Court for the Southern District of New York against certain of Coupang’s former and current directors and current officers. Coupang was named as a nominal defendant in the actions. These derivative actions purport to assert claims on behalf of Coupang and make substantially similar factual allegations to Choi v. Coupang, Inc. et al , bringing claims for, among other things, breach of fiduciary duty, unjust enrichment, and violations of securities laws. The actions seek compensatory damages, governance reforms, and other relief. We believe all the aforementioned actions are without merit and intend to vigorously defend against them. A reasonable estimate of the amount of any possible loss or range of loss cannot be made at this time. Accordingly, we can provide no assurance as to the scope and outcome of this matter and no assurance as to whether our business, financial position, results of operations or cash flows will not be materially adversely affected. Korean Fair Trade Commission Investigations On June 28, 2021, the Korean Fair Trade Commission (“KFTC”) initiated an investigation into a potential violation of the Monopoly Regulation and Fair Trade Act (the “Fair Trade Act”), including alleged preferential treatments of private labelled products provided by our subsidiary, Coupang Private Label Business. The KFTC is also investigating us on other matters related to the alleged violations of certain KFTC regulations. We are diligently cooperating with these investigations, and actively defending our practices as appropriate. Under Korean law, the issues addressed in the investigations can be resolved through civil, administrative, or criminal proceedings. The ultimate case resolution could include fines, orders to alter our processes or procedures, and criminal investigations or charges against individuals or us. We cannot reasonably estimate any penalties, loss or range of loss that may arise from the various KFTC Investigations. Accordingly, we can provide no assurance as to the scope and outcome of these matters and no assurance as to whether our business, financial position, results of operations or cash flows will not be materially adversely affected.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 91,300	$ 90,679	$ 327,347	$ (194,106)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements of Coupang, Inc. (“Coupang”) together with its wholly-owned subsidiaries (collectively, “we,” “us,” or “our”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting.
Use of Estimates	The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. We based our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ materially from these estimates.
Principles of Consolidation	The unaudited interim financial information reflects all normal recurring adjustments that are, in the opinion of management, necessary for fair presentation of the results of the interim period. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our 2022 Form 10-K.
Recent Accounting Pronouncements Adopted	Recent Accounting Pronouncements AdoptedIn September 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-04, “Supplier Finance Programs (Subtopic 405-50) - Disclosure of Supplier Finance Program Obligations.” The standard requires entities that use supplier finance programs to make disclosures about the key terms of the program, the balance sheet presentation of the related amounts and disclose the amounts outstanding, including providing a rollforward of such amounts. The adoption of the ASU in the first quarter resulted in incremental disclosures in our condensed consolidated financial statements, with the exception of the rollforward disclosure which will be effective prospectively for fiscal years beginning after December 15, 2023.

Net Revenues (Tables)

Net Revenues (Tables)	9 Months Ended
Net Revenues (Tables)	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of disaggregation of Revenue	Details of total net revenues were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Net retail sales $ 5,314,683 $ 4,540,393 $ 15,659,829 $ 13,577,665 Third-party merchant services 708,508 447,868 1,732,240 1,414,768 Other revenue 160,364 113,073 429,905 263,408 Total net revenues $ 6,183,555 $ 5,101,334 $ 17,821,974 $ 15,255,841

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
Segment Reporting (Tables)	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Results of operations for the reportable segments and reconciliation to income (loss) before income taxes is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Net revenues Product Commerce $ 5,966,027 $ 4,947,174 $ 17,305,966 $ 14,760,758 Developing Offerings 217,528 154,160 516,008 495,083 Total net revenues $ 6,183,555 $ 5,101,334 $ 17,821,974 $ 15,255,841 Segment adjusted EBITDA Product Commerce $ 399,494 $ 239,222 $ 1,095,461 $ 339,939 Developing Offerings (160,822) (44,303) (315,646) (169,720) Total segment adjusted EBITDA $ 238,672 $ 194,919 $ 779,815 $ 170,219 Reconciling items: Depreciation and amortization $ (67,393) $ (54,424) $ (197,816) $ (174,063) Equity-based compensation (83,795) (63,075) (240,098) (191,584) Interest expense (13,295) (6,485) (34,386) (19,996) Interest income 50,237 15,403 123,728 26,301 Other (expense) income, net (7,776) 11,224 (19,556) 2,485 Income (loss) before income taxes $ 116,650 $ 97,562 $ 411,687 $ (186,638)

Equity-based Compensation Pla_2

Equity-based Compensation Plans (Tables)	9 Months Ended
Equity-based Compensation Plans (Tables)	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of RSU Activity	RSU activity for the nine months ended September 30, 2023 is as follows: Outstanding RSUs (in thousands, except unit price) Number of RSUs Weighted Average Grant- December 31, 2022 35,178 $ 19.29 Granted 23,760 $ 16.36 Vested (9,769) $ 20.19 Forfeited / cancelled (3,728) $ 20.41 September 30, 2023 45,441 $ 17.47
Schedule of Equity-Based Compensation	The following table presents the effects of equity-based compensation in the condensed consolidated statements of operations: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Cost of sales $ 3,567 $ 3,996 $ 10,482 $ 11,868 Operating, general and administrative 80,228 59,079 229,616 179,716 Total $ 83,795 $ 63,075 $ 240,098 $ 191,584

Defined Severance Benefits (Tab

Defined Severance Benefits (Tables)	9 Months Ended
Defined Severance Benefits (Tables)	Sep. 30, 2023
Retirement Benefits [Abstract]
Schedule of components of net periodic benefit costs	The following table provides the components of net periodic benefit costs and the portion of these costs charged to expense: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Current service costs $ 36,183 $ 33,066 $ 103,935 $ 109,722 Interest cost 3,749 2,446 10,422 5,777 Amortization of: Prior service credit 817 810 2,473 2,582 Net actuarial loss 392 298 413 5,975 Net periodic benefit cost $ 41,141 $ 36,620 $ 117,243 $ 124,056

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	9 Months Ended
Net Income (Loss) per Share (Tables)	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Loss Per Share/Common Unit	The following table presents the calculation of basic and diluted net income (loss) per share: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2023 2022 2023 2022 Numerator: Net income (loss) $ 91,300 $ 90,679 $ 327,347 $ (194,106) Denominator: Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders: Basic 1,784,363 1,767,275 1,779,606 1,762,465 Dilutive effect of equity compensation awards 23,948 23,666 21,400 — Diluted 1,808,311 1,790,941 1,801,006 1,762,465 Net income (loss) attributable to Class A and Class B common stockholders per share: Basic $ 0.05 $ 0.05 $ 0.18 $ (0.11) Diluted $ 0.05 $ 0.05 $ 0.18 $ (0.11) Anti-dilutive shares (rounded) 2,000 6,000 4,000 25,000

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
Fair Value Measurement (Tables)	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of financial assets and financial liabilities measured at fair value on a recurring basis	The following table summarizes our financial assets and financial liabilities that are measured at fair value on a recurring basis: (in thousands) Classification Measurement Level September 30, 2023 December 31, 2022 Financial assets Cash deposits (1) Cash and cash equivalents Level 1 $ 4,857,920 $ 3,509,334 Cash and time deposits Restricted cash Level 1 $ 320,341 $ 99,730 Money market trust Restricted cash Level 1 $ 79,914 $ 76,586 Time deposits Other current assets Level 1 $ 35,321 $ 17,754 Cash and time deposits Long-term restricted cash Level 1 $ 2,435 $ 1,624 (1) Cash deposits includes bank deposits, money market trusts and time deposits. The carrying value approximates fair value because maturities are less than three months.

Supplemental Financial Inform_3

Supplemental Financial Information (Tables)	9 Months Ended
Supplemental Financial Information (Tables)	Sep. 30, 2023
Quarterly Financial Information Disclosure [Abstract]
Supplemental Disclosure of Cash-flow Information	Supplemental Disclosure of Cash flow Information Nine Months Ended September 30, (in thousands) 2023 2022 Supplemental disclosure of cash flow information Cash paid for income taxes, net of refunds $ 49,191 $ 2,851 Cash paid for interest $ 20,418 $ 17,142 Cash paid for the amount used to measure the operating lease liabilities $ 325,381 $ 273,485 Operating lease assets obtained in exchange for lease obligations $ 321,476 $ 355,149 Net increase to operating lease right-of-use assets resulting from remeasurements of lease obligations $ 76,823 $ 4,637 Non-cash investing and financing activities Increase (decrease) in property and equipment-related accounts payable $ 13,585 $ (72,052)

Supplemental Financial Inform_4

Supplemental Financial Information (Tables)	9 Months Ended
Supplemental Financial Information (Tables)	Sep. 30, 2023
Quarterly Financial Information Disclosure [Abstract]
Supplemental Disclosure of Cash-flow Information	Supplemental Disclosure of Cash flow Information Nine Months Ended September 30, (in thousands) 2023 2022 Supplemental disclosure of cash flow information Cash paid for income taxes, net of refunds $ 49,191 $ 2,851 Cash paid for interest $ 20,418 $ 17,142 Cash paid for the amount used to measure the operating lease liabilities $ 325,381 $ 273,485 Operating lease assets obtained in exchange for lease obligations $ 321,476 $ 355,149 Net increase to operating lease right-of-use assets resulting from remeasurements of lease obligations $ 76,823 $ 4,637 Non-cash investing and financing activities Increase (decrease) in property and equipment-related accounts payable $ 13,585 $ (72,052)

Net Revenues - Schedule of disa

Net Revenues - Schedule of disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total net revenues	$ 6,183,555	$ 5,101,334	$ 17,821,974	$ 15,255,841
Net retail sales
Disaggregation of Revenue [Line Items]
Total net revenues	5,314,683	4,540,393	15,659,829	13,577,665
Third-party merchant services
Disaggregation of Revenue [Line Items]
Total net revenues	708,508	447,868	1,732,240	1,414,768
Other revenue
Disaggregation of Revenue [Line Items]
Total net revenues	$ 160,364	$ 113,073	$ 429,905	$ 263,408

Net Revenues - Narrative (Detai

Net Revenues - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
Net Revenues - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenue recognized in period	$ 89	$ 82

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	9 Months Ended
Segment Reporting - Narrative (Details)	Sep. 30, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segment Reporting - Schedule of

Segment Reporting - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total net revenues	$ 6,183,555	$ 5,101,334	$ 17,821,974	$ 15,255,841
Total segment adjusted EBITDA	238,672	194,919	779,815	170,219
Reconciling items:
Equity-based compensation	(83,795)	(63,075)	(240,098)	(191,584)
Interest expense	(13,295)	(6,485)	(34,386)	(19,996)
Interest income	50,237	15,403	123,728	26,301
Other (expense) income, net	(7,776)	11,224	(19,556)	2,485
Income (loss) before income taxes	116,650	97,562	411,687	(186,638)
Operating segments \| Product Commerce
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total net revenues	5,966,027	4,947,174	17,305,966	14,760,758
Total segment adjusted EBITDA	399,494	239,222	1,095,461	339,939
Operating segments \| Developing Offerings
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total net revenues	217,528	154,160	516,008	495,083
Total segment adjusted EBITDA	(160,822)	(44,303)	(315,646)	(169,720)
Segment reconciling items
Reconciling items:
Depreciation and amortization	(67,393)	(54,424)	(197,816)	(174,063)
Equity-based compensation	(83,795)	(63,075)	(240,098)	(191,584)
Interest expense	(13,295)	(6,485)	(34,386)	(19,996)
Interest income	50,237	15,403	123,728	26,301
Other (expense) income, net	$ (7,776)	$ 11,224	$ (19,556)	$ 2,485

Equity-based Compensation Pla_3

Equity-based Compensation Plans - RSU Activity (Details) - RSUs	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
RSU outstanding, beginning balance (in shares) \| shares	35,178,000
Granted (in shares) \| shares	23,760,000
Vested (in shares) \| shares	(9,769,000)
Forfeited / cancelled (in shares) \| shares	(3,728,000)
RSU outstanding, ending balance (in shares) \| shares	45,441,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant date fair value of RSU at beginning period (in usd per share) \| $ / shares	$ 19.29
Weighted-average grant date fair value, granted (in usd per share) \| $ / shares	16.36
Weighted-average grant date fair value, vested (in usd per share) \| $ / shares	20.19
Weighted-average grant date fair value, forfeited/cancelled (in usd per share) \| $ / shares	20.41
Weighted average grant date fair value of RSU at ending period (in usd per share) \| $ / shares	$ 17.47

Equity-based Compensation Pla_4

Equity-based Compensation Plans - Schedule of Equity Based Compensation Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 83,795	$ 63,075	$ 240,098	$ 191,584
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	3,567	3,996	10,482	11,868
Operating, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	$ 80,228	$ 59,079	$ 229,616	$ 179,716

Defined Severance Benefits (Det

Defined Severance Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Retirement Benefits [Abstract]
Current service costs	$ 36,183	$ 33,066	$ 103,935	$ 109,722
Interest cost	3,749	2,446	10,422	5,777
Amortization of:
Prior service credit	817	810	2,473	2,582
Net actuarial loss	392	298	413	5,975
Net periodic benefit cost	$ 41,141	$ 36,620	$ 117,243	$ 124,056

Net Income (Loss) per Share (De

Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net income (loss)	$ 91,300	$ 90,679	$ 327,347	$ (194,106)
Denominator:
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders, basic (in shares)	1,784,363	1,767,275	1,779,606	1,762,465
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	23,948	23,666	21,400	0
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted (in shares)	1,808,311	1,790,941	1,801,006	1,762,465
Net income (loss) attributable to Class A and Class B common stockholders per share, basic (in dollars per share)	$ 0.05	$ 0.05	$ 0.18	$ (0.11)
Net income (loss) attributable to Class A and Class B common stockholders per share, diluted (in dollars per share)	$ 0.05	$ 0.05	$ 0.18	$ (0.11)
Share-based Payment Arrangement
Denominator:
Anti-dilutive securities excluded from computation of net loss per share (in shares)	2,000	6,000	4,000	25,000

Fair Value Measurement (Details

Fair Value Measurement (Details) - Level 1 - Fair Value, Recurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Deposits
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash and cash equivalents	$ 4,857,920	$ 3,509,334
Cash and time deposits
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Restricted cash	320,341	99,730
Long-term restricted cash	2,435	1,624
Money market trust
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Restricted cash	79,914	76,586
Time deposits
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Other current assets	$ 35,321	$ 17,754

Supplemental Financial Inform_5

Supplemental Financial Information - Supplemental Disclosure of Cash-flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Supplemental disclosure of cash flow information
Cash paid for income taxes, net of refunds	$ 49,191	$ 2,851
Cash paid for interest	20,418	17,142
Cash paid for the amount used to measure the operating lease liabilities	325,381	273,485
Operating lease assets obtained in exchange for lease obligations	321,476	355,149
Net increase to operating lease right-of-use assets resulting from remeasurements of lease obligations	76,823	4,637
Non-cash investing and financing activities
Increase (decrease) in property and equipment-related accounts payable	$ 13,585	$ (72,052)

Supplemental Financial Inform_6

Supplemental Financial Information - Supplier Financing Arrangements (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Supplier finance program, obligation	$ 431	$ 337

Supplemental Financial Inform_7

Supplemental Financial Information - Fulfillment Center Fire (Details) $ in Millions	1 Months Ended
	Sep. 30, 2023 USD ($)
Quarterly Financial Information Disclosure [Abstract]
Proceeds from insurance settlement, operating activities	$ 59

Supplemental Financial Inform_8

Supplemental Financial Information - Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity attributable to parent	$ 2,928,377	$ 2,775,477	$ 2,413,913	$ 2,171,966	$ 2,068,096	$ 2,175,957
Accumulated foreign currency adjustment attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity attributable to parent	(8,000)		45,000
Accumulated defined benefit plans adjustment attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity attributable to parent	$ (51,000)		$ (43,000)

Supplemental Financial Inform_9

Supplemental Financial Information - Supplemental Disclosure of Cash-flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Supplemental disclosure of cash flow information
Cash paid for income taxes, net of refunds	$ 49,191	$ 2,851
Cash paid for interest	20,418	17,142
Cash paid for the amount used to measure the operating lease liabilities	325,381	273,485
Operating lease assets obtained in exchange for lease obligations	321,476	355,149
Net increase to operating lease right-of-use assets resulting from remeasurements of lease obligations	76,823	4,637
Non-cash investing and financing activities
Increase (decrease) in property and equipment-related accounts payable	$ 13,585	$ (72,052)

Supplemental Financial Infor_10

Supplemental Financial Information - Supplier Financing Arrangements (Details) - USD ($) $ in Millions	1 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Supplier finance program, obligation	$ 431	$ 337
Proceeds from insurance settlement, operating activities	$ 59

Supplemental Financial Infor_11

Supplemental Financial Information - Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity attributable to parent	$ 2,928,377	$ 2,775,477	$ 2,413,913	$ 2,171,966	$ 2,068,096	$ 2,175,957
Accumulated foreign currency adjustment attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity attributable to parent	(8,000)		45,000
Accumulated defined benefit plans adjustment attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity attributable to parent	$ (51,000)		$ (43,000)

Short-Term Borrowings and Lon_2

Short-Term Borrowings and Long-term Debt (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended
	Jul. 01, 2023	Apr. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt			$ 910,000	$ 667,000
Property and equipment, net			$ 2,200,638	$ 1,819,945
Line of credit
Debt Instrument [Line Items]
Debt instrument term		3 years
Borrowing limit, total initial borrowings		$ 171,000
Fixed interest rate (in percent)		6.76%
Line of credit \| February 2024
Debt Instrument [Line Items]
Balance drawn	$ 0
Line of credit \| February 2024 \| Federal funds rate or composite overnight bank borrowings rate
Debt Instrument [Line Items]
Variable interest rate (in percent)	0.50%
Line of credit \| February 2024 \| Adjusted One Month SOFR
Debt Instrument [Line Items]
Variable interest rate (in percent)	1%
Line of credit \| February 2024 \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Variable interest rate (in percent)	1%
Line of credit \| Asset pledged as collateral \| Land and building
Debt Instrument [Line Items]
Property and equipment, net		$ 205,000
Line of credit
Debt Instrument [Line Items]
Debt instrument term		1 year	1 year
Borrowing limit, total initial borrowings		$ 59,000
Variable interest rate (in percent)		4.40%
Short-term debt, percentage bearing fixed interest rate (in percent)			5.56%
Line of credit facility, remaining borrowing capacity			$ 67,000