Coupang (CPNG) 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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	2024
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		1,624,056,504
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 Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total net revenues	$ 7,866	$ 6,184	$ 22,303	$ 17,822
Cost of sales	5,597	4,618	15,963	13,312
Operating, general and administrative	2,160	1,478	6,216	4,168
Total operating cost and expenses	7,757	6,096	22,179	17,480
Operating income	109	88	124	342
Interest income	55	50	163	124
Interest expense	(36)	(13)	(100)	(34)
Other income (expense), net	4	(8)	7	(20)
Income before income taxes	132	117	194	412
Income tax expense	68	26	259	85
Net income (loss)	64	91	(65)	327
Net loss attributable to noncontrolling interests	(6)	0	(63)	0
Net income (loss) attributable to Coupang stockholders	$ 70	$ 91	$ (2)	$ 327
Earnings per share
Net income (loss) attributable to Class A and Class B common stockholders per share, basic (in USD per share)	$ 0.04	$ 0.05	$ 0	$ 0.18
Net income (loss) attributable to Class A and Class B common stockholders per share, diluted (in USD per share)	$ 0.04	$ 0.05	$ 0	$ 0.18
Weighted-average shares outstanding
Weighted-average shares used in computing net (loss) income per share attributable to Class A and Class B common stockholders, basic (in shares)	1,795	1,784	1,792	1,780
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders, diluted (in shares)	1,829	1,808	1,792	1,801
Net retail sales
Total net revenues	$ 6,140	$ 5,315	$ 17,814	$ 15,660
Net other revenue
Total net revenues	$ 1,726	$ 869	$ 4,489	$ 2,162

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 64	$ 91	$ (65)	$ 327
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	148	(26)	(36)	(53)
Actuarial gain (loss) on defined severance benefits, net of tax	1	2	4	(7)
Total other comprehensive income (loss)	149	(24)	(32)	(60)
Comprehensive income (loss)	213	67	(97)	267
Comprehensive loss attributable to noncontrolling interests	(4)	0	(61)	0
Comprehensive income (loss) attributable to Coupang stockholders	$ 217	$ 67	$ (36)	$ 267

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 5,822	$ 5,243
Restricted cash	139	353
Accounts receivable, net	517	314
Inventories	2,181	1,666
Prepaids and other current assets	553	316
Total current assets	9,212	7,892
Property and equipment, net	2,997	2,465
Operating lease right-of-use assets	2,240	1,601
Deferred tax assets	764	925
Intangible assets, net	306	37
Long-term lease deposits and other	823	426
Total assets	16,342	13,346
Liabilities, redeemable noncontrolling interests, and equity
Accounts payable	5,899	5,099
Accrued expenses	473	352
Deferred revenue	191	97
Short-term borrowings	379	282
Current portion of long-term debt	22	203
Current portion of long-term operating lease obligations	456	386
Other current liabilities	765	526
Total current liabilities	8,185	6,945
Long-term debt	1,194	529
Long-term operating lease obligations	1,970	1,387
Defined severance benefits and other	716	381
Total liabilities	12,065	9,242
Commitments and contingencies (Note 10)
Redeemable noncontrolling interests	84	15
Equity
Class A — shares authorized 10,000, outstanding 1,621 and 1,616 Class B — shares authorized 250, outstanding 175 and 175	0	0
Additional paid-in capital	8,625	8,489
Accumulated other comprehensive loss	(51)	(17)
Accumulated deficit	(4,385)	(4,383)
Noncontrolling interests	4	0
Total equity	4,193	4,089
Total liabilities, redeemable noncontrolling interests and equity	$ 16,342	$ 13,346

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - shares shares in Millions	Sep. 30, 2024	Dec. 31, 2023
Common class A
Common stock, shares authorized (in shares)	10,000	10,000
Common stock, shares outstanding (in shares)	1,621	1,616
Common class B
Common stock, shares authorized (in shares)	250	250
Common stock, shares outstanding (in shares)	175	175

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY (unaudited) - USD ($) shares in Millions, $ in Millions	Total	Redeemable Noncontrolling Interests	Class A and Class B Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Noncontrolling Interests
Equity, including portion attributable to noncontrolling interest, beginning balance at Dec. 31, 2022	$ 2,414	$ 0	$ 0	$ 8,154	$ 3	$ (5,743)	$ 0
Beginning balance (in shares) at Dec. 31, 2022			1,773
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	91					91
Foreign currency translation adjustments, net of tax	(19)				(19)
Actuarial gain on defined severance benefits, net of tax	1				1
Issuance of common stock upon exercise of stock options (in shares)			1
Issuance of common stock upon exercise of stock options	3			3
Issuance of common stock upon settlement of restricted stock units (in shares)			3
Issuance of common stock upon settlement of restricted stock units	0
Equity-based compensation	70			70
Equity, including portion attributable to noncontrolling interest, ending balance at Mar. 31, 2023	2,560	0	$ 0	8,227	(15)	(5,652)	0
Ending balance (in shares) at Mar. 31, 2023			1,777
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	145					145
Foreign currency translation adjustments, net of tax	(8)				(8)
Actuarial gain on defined severance benefits, net of tax	(10)				(10)
Issuance of common stock upon exercise of stock options (in shares)			1
Issuance of common stock upon exercise of stock options	2			2
Issuance of common stock upon settlement of restricted stock units (in shares)			3
Issuance of common stock upon settlement of restricted stock units	0
Equity-based compensation	86			86
Equity, including portion attributable to noncontrolling interest, ending balance at Jun. 30, 2023	2,775	0	$ 0	8,315	(33)	(5,507)	0
Ending balance (in shares) at Jun. 30, 2023			1,781
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	91					91
Foreign currency translation adjustments, net of tax	(26)				(26)
Actuarial gain on defined severance benefits, net of tax	2				2
Issuance of common stock upon exercise of stock options (in shares)			1
Issuance of common stock upon exercise of stock options	2			2
Issuance of common stock upon settlement of restricted stock units (in shares)			4
Issuance of common stock upon settlement of restricted stock units	0
Equity-based compensation	84			84
Equity, including portion attributable to noncontrolling interest, ending balance at Sep. 30, 2023	2,928	0	$ 0	8,401	(57)	(5,416)	0
Ending balance (in shares) at Sep. 30, 2023			1,786
Equity, including portion attributable to noncontrolling interest, beginning balance at Dec. 31, 2023	4,089	15	$ 0	8,489	(17)	(4,383)	0
Beginning balance (in shares) at Dec. 31, 2023			1,791
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1	(25)				5	(4)
Capital contributions from noncontrolling interest holders	0	55
Recognition of noncontrolling interest upon acquisition	10	69					10
Foreign currency translation adjustments, net of tax	(105)				(105)
Actuarial gain on defined severance benefits, net of tax	1				1
Issuance of common stock upon exercise of stock options	1			1
Issuance of common stock upon settlement of restricted stock units (in shares)			4
Issuance of common stock upon settlement of restricted stock units	0
Equity-based compensation	88			88
Equity, including portion attributable to noncontrolling interest, ending balance at Mar. 31, 2024	4,085	114	$ 0	8,578	(121)	(4,378)	6
Ending balance (in shares) at Mar. 31, 2024			1,795
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(84)	(21)				(77)	(7)
Foreign currency translation adjustments, net of tax	(79)	(1)			(79)
Actuarial gain on defined severance benefits, net of tax	2				2
Issuance of common stock upon exercise of stock options (in shares)			1
Issuance of common stock upon exercise of stock options	0
Issuance of common stock upon settlement of restricted stock units (in shares)			4
Issuance of common stock upon settlement of restricted stock units	0
Repurchase of Class A common stock (in shares)			(10)
Repurchase of Class A common stock	(178)			(178)
Equity-based compensation	109			109
Equity, including portion attributable to noncontrolling interest, ending balance at Jun. 30, 2024	3,855	92	$ 0	8,509	(198)	(4,455)	(1)
Ending balance (in shares) at Jun. 30, 2024			1,790
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	75	(11)				70	5
Foreign currency translation adjustments, net of tax	146	3			146
Actuarial gain on defined severance benefits, net of tax	1				1
Issuance of common stock upon exercise of stock options	2			2
Issuance of common stock upon settlement of restricted stock units (in shares)			5
Issuance of common stock upon settlement of restricted stock units	0
Equity-based compensation	114			114
Equity, including portion attributable to noncontrolling interest, ending balance at Sep. 30, 2024	$ 4,193	$ 84	$ 0	$ 8,625	$ (51)	$ (4,385)	$ 4
Ending balance (in shares) at Sep. 30, 2024			1,795

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net income (loss)	$ (65)	$ 327
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	313	198
Provision for severance benefits	138	117
Equity-based compensation	311	240
Non-cash operating lease expense	325	248
Deferred income taxes	142	0
Other	175	100
Change in operating assets and liabilities, net of acquisition:
Accounts receivable, net	116	(114)
Inventories	(234)	(87)
Other assets	(264)	(65)
Accounts payable	310	1,235
Accrued expenses	32	15
Other liabilities	(89)	(171)
Net cash provided by operating activities	1,210	2,043
Investing activities
Purchases of property and equipment	(665)	(662)
Proceeds from sale of property and equipment	8	12
Net cash acquired in acquisition	68	0
Other investing activities	(89)	(14)
Net cash used in investing activities	(678)	(664)
Financing activities
Proceeds from issuance of common stock, equity-based compensation plan	3	7
Repurchase of Class A common stock	(178)	0
Proceeds from short-term borrowings and long-term debt	425	417
Repayment of short-term borrowings and long-term debt	(383)	(64)
Other financing activities	44	2
Net cash (used in) provided by financing activities	(89)	362
Effect of exchange rate changes on cash and cash equivalents, and restricted cash	(78)	(167)
Net increase in cash and cash equivalents, and restricted cash	365	1,574
Cash and cash equivalents, and restricted cash, as of beginning of period	5,597	3,687
Cash and cash equivalents, and restricted cash, as of end of period	$ 5,962	$ 5,261

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
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” or the “Company”) together with its consolidated 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 (the “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 2023 Form 10-K. Farfetch Acquisition In January 2024, we acquired the business and assets of Farfetch Holdings plc (“Farfetch”), a leading global marketplace for the luxury fashion industry (the “Farfetch Acquisition”). Refer to “Note 11 - Business Combinations – Farfetch” for additional information. Recent Accounting Pronouncements Adopted In 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 resulted in incremental disclosures in our condensed consolidated financial statements, with the exception of the rollforward disclosure which will be effective prospectively for the year ending December 31, 2024. Recent Accounting Pronouncements Yet To Be Adopted In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures.” The standard requires additional disclosures about an entity’s segments, primarily about significant segment expenses that are reported to the Chief Operating Decision Maker. Early adoption is allowed under the standard. We will apply the guidance starting with our consolidated financial statements included in the Annual Report on Form 10-K for the year ending December 31, 2024. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740) - Improvements to Income Tax Disclosures.” The standard requires disclosure of specific categories of an entities income tax expenses and income taxes paid among other disclosures. Early adoption is allowed under the standard. We are evaluating the effect of adopting the ASU on our disclosures, which is effective beginning with the fiscal year ending December 31, 2025.

Net Revenues

Net Revenues	9 Months Ended
	Sep. 30, 2024
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 millions) 2024 2023 2024 2023 Net retail sales $ 6,140 $ 5,315 $ 17,814 $ 15,660 Third-party merchant services 1,499 709 3,920 1,732 Other revenue 227 160 569 430 Total net revenues $ 7,866 $ 6,184 $ 22,303 $ 17,822 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 owned inventory product sales to consumers. Third- party merchant services represent commissions, advertising, and delivery fees earned from merchants and restaurants that sell their products through our online businesses. 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 $92 million and $89 million for the nine months ended September 30, 2024 and 2023, respectively, primarily related to payments in advance of products and services delivered 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
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We own and operate a retail business that primarily serves the Korean retail market along with other international markets. 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 our 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 includes our 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, and also includes Farfetch, our newly acquired global luxury fashion marketplace. Revenues from Developing Offerings are primarily generated from our luxury fashion marketplace through Farfetch, our 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 before income taxes is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Net revenues Product Commerce $ 6,891 $ 5,966 $ 19,816 $ 17,306 Developing Offerings 975 218 2,487 516 Total net revenues $ 7,866 $ 6,184 $ 22,303 $ 17,822 Segment adjusted EBITDA Product Commerce $ 470 $ 399 $ 1,467 $ 1,095 Developing Offerings (127) (161) (513) (316) Total segment adjusted EBITDA $ 343 $ 239 $ 954 $ 780 Reconciling items: Depreciation and amortization $ (112) $ (67) $ (313) $ (198) Equity-based compensation (114) (84) (311) (240) Acquisition and restructuring related costs (8) — (85) — KFTC administrative fine (see Note 10) — — (121) — Interest expense (36) (13) (100) (34) Interest income 55 50 163 124 Other income (expense), net 4 (8) 7 (20) Income before income taxes $ 132 $ 117 $ 194 $ 412 Note: Amounts may not foot due to rounding.

Defined Severance Benefits

Defined Severance Benefits	9 Months Ended
	Sep. 30, 2024
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 millions) 2024 2023 2024 2023 Current service costs $ 43 $ 36 $ 123 $ 104 Interest cost 3 3 11 10 Amortization of: Prior service credit 1 1 2 2 Net actuarial loss 1 1 2 1 Net periodic benefit cost $ 48 $ 41 $ 138 $ 117

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our 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 tax credits, the inclusion of the global intangible low-taxed income (GILTI) provisions, the valuation allowance against deferred tax assets in loss making jurisdictions, and other permanent differences. The increase in our effective tax rate for the three and nine months ended September 30, 2024 is primarily due to the loss before income taxes incurred by Farfetch, with no offsetting tax benefit, and the prospective impact of releasing the valuation allowance on our Korean deferred tax assets in the fourth quarter of 2023. Specific to the nine months ended September 30, 2024, our effective tax rate also increased due to the impact of the non-deductible KFTC administrative fine (the “administrative fine”) discussed in “Note 10 - Commitments and Contingencies”.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Basic earnings per share is computed by dividing net (loss) income attributable to Coupang stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing net (loss) income attributable to Coupang stockholders by the weighted-average number of shares of common stock and potentially dilutive common stock outstanding during the period. We have two classes of common stock outstanding, Class A common stock and Class B common stock (collectively “common stock”), with equal rights to dividends and income. Earnings per share attributable to Coupang stockholders are therefore the same for Class A and Class B common stock, both on an individual and combined basis. The following table presents the calculation of basic and diluted earnings per share attributable to Coupang stockholders: Three Months Ended September 30, Nine Months Ended September 30, (in millions, except per share amounts) 2024 2023 2024 2023 Numerator: Net income attributable to Coupang stockholders $ 70 $ 91 $ (2) $ 327 Denominator: Weighted-average shares used in computing net income per share attributable to Class A and Class B common stockholders: Basic 1,795 1,784 1,792 1,780 Dilutive effect of equity compensation awards 34 24 — 21 Diluted 1,829 1,808 1,792 1,801 Earnings per share: Basic $ 0.04 $ 0.05 $ — $ 0.18 Diluted $ 0.04 $ 0.05 $ — $ 0.18 Anti-dilutive shares — 2 30 4 Note: Amounts may not foot due to rounding.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2024
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 millions) Classification Measurement Level September 30, 2024 December 31, 2023 Financial assets Money market trust Cash and cash equivalents Level 1 $ 1,737 $ 1,582 Money market fund Cash and cash equivalents Level 1 $ 723 $ 1,205 Money market trust Restricted cash Level 1 $ 92 $ 86

Supplemental Financial Informat

Supplemental Financial Information	9 Months Ended
	Sep. 30, 2024
Quarterly Financial Information Disclosure [Abstract]
Supplemental Financial Information	Supplemental Financial Information Supplemental Disclosure of Cash flow Information Nine Months Ended September 30, (in millions) 2024 2023 Supplemental disclosure of cash flow information Cash paid for the amount used to measure the operating lease liabilities $ 425 $ 325 Operating lease assets obtained in exchange for lease obligations $ 829 $ 321 Net increase to operating lease right-of-use assets resulting from remeasurements of lease obligations $ 168 $ 77 Non-cash investing and financing activities Increase in property and equipment-related accounts payable $ 51 $ 14 The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown within the consolidated statements of cash flows. (in millions) September 30, 2024 December 31, 2023 Current assets Cash and cash equivalents $ 5,822 $ 5,243 Restricted cash 139 353 Noncurrent assets Restricted cash included in long-term lease deposits and other 1 1 Total cash, cash equivalents and restricted cash $ 5,962 $ 5,597 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 Accumulated Other Comprehensive (Loss) Income Accumulated other comprehensive loss includes all changes in equity during a period that have yet to be recognized in income. The major components are foreign currency translation adjustments and actuarial gains (losses) on our defined severance benefits. As of September 30, 2024 and December 31, 2023, the ending balance in accumulated other comprehensive (loss) income related to foreign currency translation adjustments was $6 million and $44 million, respectively, and the amount related to actuarial losses on defined severance benefits was $(56) million and $(60) million, respectively. Share Repurchase In April 2024, we repurchased 10 million shares of our Class A common stock for $178 million in a private transaction.

Short-term Borrowings and Long-

Short-term Borrowings and Long-term Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Short-term Borrowings and Long-term Debt	Short-term Borrowings and Long-term Debt Revolving Credit Facility In January 2024, our senior unsecured credit facility (the “Revolving Credit Facility”) was amended to extend the maturity date to February 2026 and to bring the aggregate principal amount to $875 million. The Revolving Credit Facility continues to provide us the right to request incremental commitments up to $1.25 billion, subject to customary conditions. The Revolving Credit Facility contains customary affirmative and negative covenants, including certain financial covenants. The Revolving Credit Facility is guaranteed on a senior unsecured basis by all our material restricted subsidiaries, subject to customary exceptions. Taiwan Revolving Credit Facility In September 2024, a Taiwan subsidiary entered into a new five-year senior unsecured credit facility (the “Taiwan Revolving Credit Facility”) providing for revolving loans in an aggregate principal amount of up to $207 million. The Taiwan Revolving Credit Facility permits the borrower to obtain incremental commitments up to $307 million, subject to customary conditions. Borrowings under the Taiwan Revolving Credit Facility bear interest at a rate per annum equal to the Taipei Interbank Offered Rate (TAIBOR) plus 1.25%. The Taiwan Revolving Credit Facility contains customary affirmative and negative covenants, including certain financial covenants. As of September 30, 2024, there was no balance outstanding on the Taiwan Revolving Credit Facility. Farfetch Term Loan As part of the Farfetch Acquisition, our subsidiary assumed the then outstanding syndicated Term Loans (“Farfetch Term Loans”) under Farfetch’s existing Credit Agreement with certain banks and financial institutions of $575 million, inclusive of fees incurred and less $58 million we repurchased upon acquisition. Repayment of the Farfetch Term Loans is due in quarterly installments, of 0.25% of the original principal balance, payable on the last business day of each fiscal quarter. The Farfetch Term Loans mature in October 2027, and early payment is permitted. The Term Loans bear interest at a rate equal to SOFR plus 6.25% per annum. As of September 30, 2024, $571 million was outstanding. The Farfetch Term Loans contain customary affirmative covenants as well as customary negative covenants, including, but not limited to, restrictions on certain entities within Farfetch’s ability to incur additional debt, make investments, make distributions, dispose of assets, or enter into certain types of related party transactions. The loans are secured against specified assets of the Farfetch group and guaranteed by certain subsidiaries of Farfetch. 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, 2024 and December 31, 2023 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, 2024.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments Unconditional purchase obligations include legally binding contracts with terms in excess of one year that are not reflected on the consolidated balance sheets. These contractual commitments primarily relate to technology related service contracts, fulfillment center construction contracts and software licenses. For contracts with variable terms, we do not estimate the total obligation beyond any minimum pricing as of the reporting date. New Guards Group As a result of efforts to restructure unfavorable economic terms within licensing arrangements involving New Guards Group Holdings S.p.A. and certain of its subsidiaries (collectively “NGGH”), a subsidiary acquired in the Farfetch Acquisition, and Authentic Brands Group LLC (the “licensor”), NGGH received a termination notice from the licensor in October 2024. The license agreement granted NGGH distribution rights for Reebok-branded footwear and apparel ranges within certain countries in the European region and provided for minimum guaranteed royalties to be paid by NGGH over the remaining eight years of the agreement, with no cancellation rights. NGGH’s minimum guarantee liability was recorded at fair value at acquisition and had a carrying value of $136 million as of September 30, 2024. Licensor has alleged as an effect of the notice all unpaid minimum guarantees and other related breach payments totaling $312 million became payable by NGGH to the licensor, and all rights in and to the licensed property reverted to the licensor. Coupang has not guaranteed payments under the license agreement, and the liability is limited to NGGH. The brand license intangible asset acquired was recorded at fair value at acquisition and had a carrying value of $44 million as of September 30, 2024. Legal Matters From time to time, we may become party to litigation incidents and other legal proceedings, including regulatory proceedings, in the ordinary course of business. We assess the likelihood of any adverse judgments or outcomes with respect to these matters and determines 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 litigation and claims 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. Between August and December 2023, three separate stockholders’ derivative actions 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 the aforementioned actions. 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. Korea Fair Trade Commission Investigations In June 2021, the Korea Fair Trade Commission (the “KFTC”) initiated an investigation into a potential violation of the Monopoly Regulation and Fair Trade Act, including alleged preferential treatments of private labelled products provided by our subsidiary, Coupang Private Label Brands. In June 2024, the KFTC publicly announced that as a result of their investigation, they determined that our product search rankings violated Korean law; a regulatory finding subject to judicial review, and that they would impose an administrative fine on us and that they intended to direct us to take certain related corrective actions. Payments of fines to the KFTC are not stayed during an appeal process and as a result, we accrued the administrative fine in the second quarter of 2024, resulting in a charge, included within operating, general and administrative expenses, of approximately $121 million. The Company will pay the administrative fine in six installments over two years and made the first payment in October 2024 and will make the last payment in June 2026. In August 2024, we received the KFTC’s formal written decision, and in September 2024, we appealed such decision. That appeal is pending, and the first hearing of the administrative litigation action will be held on November 21, 2024. We also filed a preliminary injunction with the Seoul High Court to stay the fine and corrective orders during the pendency of the appeal. In October 2024, the Seoul High Court granted our request for suspension of the KFTC’s corrective orders, but dismissed the request for a stay of the KFTC’s administrative fine. The KFTC subsequently appealed the Seoul High Court’s decision to grant a suspension of the corrective orders. 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 these other KFTC Investigations, in excess of the amounts accrued. Accordingly, we can provide no assurance as to the scope and outcome of these other matters and no assurance as to whether our business, financial position, results of operations or cash flows will not be materially adversely affected.

Business Combinations - Farfetc

Business Combinations - Farfetch	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combinations - Farfetch	Business Combinations – Farfetch Farfetch Acquisition On January 30, 2024 we completed the acquisition of Farfetch. We believe the acquisition will allow us to expand into luxury retail. We have accounted for this acquisition as a business combination. Total purchase consideration consisted of amounts previously funded to Farfetch under a loan prior to acquisition (the “Bridge Loan”) and required partial repayment of the Farfetch Term Loans at the close of the transaction. (in millions) Estimated Fair Value Farfetch Term Loan repayment $ 58 Bridge Loan contribution 150 Total purchase consideration $ 208 Purchase Price Allocation We have estimated the preliminary fair value of assets acquired and liabilities assumed based on information currently available and will continue to adjust those estimates as additional information becomes available during the measurement period. The measurement period will end no later than one year from the acquisition date. The following table summarizes the preliminary allocation of purchase consideration and the fair value of the assets acquired and liabilities assumed as of the acquisition date: (in millions) Estimated Fair Value Assets acquired Cash and cash equivalents $ 126 Accounts receivable, net 288 Inventories 310 Prepaids and other current assets 224 Property and equipment, net 95 Intangible assets 325 Operating lease right-of-use assets 209 Other non-current assets 227 Liabilities assumed Accounts payable (505) Other current liabilities (169) Long-term debt (557) Operating lease obligations (214) Other non-current liabilities (177) Net assets assumed 182 Noncontrolling interests (78) Goodwill on acquisition 104 Total consideration $ 208 The excess of purchase consideration over the fair value of net identifiable assets acquired and liabilities assumed was recorded as goodwill which is not deductible for tax purposes. Goodwill represents the future economic benefits we expect to achieve as a result of the acquisition, including the workforce of the acquired business as well as future operational and logistical cost efficiencies expected to be achieved. During the three months ended September 30, 2024, certain insignificant measurement period adjustments were made to the initial allocation, and the preliminary amount of goodwill was increased by $22 million. Goodwill was recorded in our Developing Offerings segment. The identifiable intangible assets acquired were as follows: (in millions, except years) Weighted Average Useful Life Estimated Fair Value Brand trademarks 5 years $ 130 Customer relationships 5 years 34 Supplier relationships 15 years 61 Developed technology 3 years 38 Brand licenses 8 years 62 Total intangible assets $ 325 The results of Farfetch included in our consolidated statement of operations since the closing of the acquisition were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 Total net revenues $ 439 $ 1,187 Net loss $ (44) $ (274) Acquisition-related costs were recorded as operating expenses for the three months ended September 30, 2024 and were not material. Supplemental Pro Forma Information (Unaudited) The following financial information presents our results as if the acquisition of Farfetch had occurred on January 1, 2023: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Pro Forma Information Total net revenues $ 7,866 $ 6,791 $ 22,490 $ 19,558 Net income (loss) $ 61 $ 103 $ (167) $ 158 These pro forma results are based on estimates and assumptions, which we believe are reasonable. They are illustrative only and are not the results that would have been achieved had the acquisition actually occurred on January 1, 2023, nor are they indicative of future results. The pro forma results include adjustments related to the business combination, including amortization of acquired intangibles, stock-based compensation, lease expense, and income taxes.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 70	$ 91	$ (2)	$ 327

Insider Trading Arrangements

Insider Trading Arrangements shares in Millions	3 Months Ended
	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Bom Kim [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Mr. Bom Kim, our founder and Chief Executive Officer, adopted a pre-arranged stock trading plan (the “Plan”) in accordance with the SEC guidelines specified under Rule 10b5-1(c) under the Exchange Act and the policies of Coupang regarding stock transactions, to sell up to 15,000,000 shares of Coupang Class A Common Stock (the “Shares”), subject to certain terms and conditions, beginning no earlier than November 11, 2024. The Plan, which was entered into on August 12, 2024, will terminate the earlier of the sale of all 15,000,000 Shares pursuant to the Plan or August 29, 2025. Mr. Kim entered into the Plan to satisfy significant financial requirements, including tax obligations.
Name	Bom Kim
Title	founder and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 12, 2024
Expiration Date	August 29, 2025
Arrangement Duration	382 days
Aggregate Available	15

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements of Coupang, Inc. (“Coupang” or the “Company”) together with its consolidated 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 (the “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 2023 Form 10-K.
Recent Accounting Pronouncements Adopted	Recent Accounting Pronouncements Adopted In 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 resulted in incremental disclosures in our condensed consolidated financial statements, with the exception of the rollforward disclosure which will be effective prospectively for the year ending December 31, 2024. Recent Accounting Pronouncements Yet To Be Adopted In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures.” The standard requires additional disclosures about an entity’s segments, primarily about significant segment expenses that are reported to the Chief Operating Decision Maker. Early adoption is allowed under the standard. We will apply the guidance starting with our consolidated financial statements included in the Annual Report on Form 10-K for the year ending December 31, 2024. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740) - Improvements to Income Tax Disclosures.” The standard requires disclosure of specific categories of an entities income tax expenses and income taxes paid among other disclosures. Early adoption is allowed under the standard. We are evaluating the effect of adopting the ASU on our disclosures, which is effective beginning with the fiscal year ending December 31, 2025.

Net Revenues (Tables)

Net Revenues (Tables)	9 Months Ended
	Sep. 30, 2024
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 millions) 2024 2023 2024 2023 Net retail sales $ 6,140 $ 5,315 $ 17,814 $ 15,660 Third-party merchant services 1,499 709 3,920 1,732 Other revenue 227 160 569 430 Total net revenues $ 7,866 $ 6,184 $ 22,303 $ 17,822

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Results of operations for the reportable segments and reconciliation to income before income taxes is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Net revenues Product Commerce $ 6,891 $ 5,966 $ 19,816 $ 17,306 Developing Offerings 975 218 2,487 516 Total net revenues $ 7,866 $ 6,184 $ 22,303 $ 17,822 Segment adjusted EBITDA Product Commerce $ 470 $ 399 $ 1,467 $ 1,095 Developing Offerings (127) (161) (513) (316) Total segment adjusted EBITDA $ 343 $ 239 $ 954 $ 780 Reconciling items: Depreciation and amortization $ (112) $ (67) $ (313) $ (198) Equity-based compensation (114) (84) (311) (240) Acquisition and restructuring related costs (8) — (85) — KFTC administrative fine (see Note 10) — — (121) — Interest expense (36) (13) (100) (34) Interest income 55 50 163 124 Other income (expense), net 4 (8) 7 (20) Income before income taxes $ 132 $ 117 $ 194 $ 412 Note: Amounts may not foot due to rounding.

Defined Severance Benefits (Tab

Defined Severance Benefits (Tables)	9 Months Ended
	Sep. 30, 2024
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 millions) 2024 2023 2024 2023 Current service costs $ 43 $ 36 $ 123 $ 104 Interest cost 3 3 11 10 Amortization of: Prior service credit 1 1 2 2 Net actuarial loss 1 1 2 1 Net periodic benefit cost $ 48 $ 41 $ 138 $ 117

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Loss Per Share/Common Unit	The following table presents the calculation of basic and diluted earnings per share attributable to Coupang stockholders: Three Months Ended September 30, Nine Months Ended September 30, (in millions, except per share amounts) 2024 2023 2024 2023 Numerator: Net income attributable to Coupang stockholders $ 70 $ 91 $ (2) $ 327 Denominator: Weighted-average shares used in computing net income per share attributable to Class A and Class B common stockholders: Basic 1,795 1,784 1,792 1,780 Dilutive effect of equity compensation awards 34 24 — 21 Diluted 1,829 1,808 1,792 1,801 Earnings per share: Basic $ 0.04 $ 0.05 $ — $ 0.18 Diluted $ 0.04 $ 0.05 $ — $ 0.18 Anti-dilutive shares — 2 30 4 Note: Amounts may not foot due to rounding.

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of financial assets 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 millions) Classification Measurement Level September 30, 2024 December 31, 2023 Financial assets Money market trust Cash and cash equivalents Level 1 $ 1,737 $ 1,582 Money market fund Cash and cash equivalents Level 1 $ 723 $ 1,205 Money market trust Restricted cash Level 1 $ 92 $ 86

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	9 Months Ended
	Sep. 30, 2024
Quarterly Financial Information Disclosure [Abstract]
Supplemental Disclosure of Cash-flow Information	Supplemental Disclosure of Cash flow Information Nine Months Ended September 30, (in millions) 2024 2023 Supplemental disclosure of cash flow information Cash paid for the amount used to measure the operating lease liabilities $ 425 $ 325 Operating lease assets obtained in exchange for lease obligations $ 829 $ 321 Net increase to operating lease right-of-use assets resulting from remeasurements of lease obligations $ 168 $ 77 Non-cash investing and financing activities Increase in property and equipment-related accounts payable $ 51 $ 14
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown within the consolidated statements of cash flows. (in millions) September 30, 2024 December 31, 2023 Current assets Cash and cash equivalents $ 5,822 $ 5,243 Restricted cash 139 353 Noncurrent assets Restricted cash included in long-term lease deposits and other 1 1 Total cash, cash equivalents and restricted cash $ 5,962 $ 5,597

Business Combinations - Farfe_2

Business Combinations - Farfetch (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Business Acquisitions, by Acquisition	(in millions) Estimated Fair Value Farfetch Term Loan repayment $ 58 Bridge Loan contribution 150 Total purchase consideration $ 208
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary allocation of purchase consideration and the fair value of the assets acquired and liabilities assumed as of the acquisition date: (in millions) Estimated Fair Value Assets acquired Cash and cash equivalents $ 126 Accounts receivable, net 288 Inventories 310 Prepaids and other current assets 224 Property and equipment, net 95 Intangible assets 325 Operating lease right-of-use assets 209 Other non-current assets 227 Liabilities assumed Accounts payable (505) Other current liabilities (169) Long-term debt (557) Operating lease obligations (214) Other non-current liabilities (177) Net assets assumed 182 Noncontrolling interests (78) Goodwill on acquisition 104 Total consideration $ 208
Finite-Lived Intangible Assets Acquired	The identifiable intangible assets acquired were as follows: (in millions, except years) Weighted Average Useful Life Estimated Fair Value Brand trademarks 5 years $ 130 Customer relationships 5 years 34 Supplier relationships 15 years 61 Developed technology 3 years 38 Brand licenses 8 years 62 Total intangible assets $ 325
Business Acquisition, Pro Forma Information	The results of Farfetch included in our consolidated statement of operations since the closing of the acquisition were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 Total net revenues $ 439 $ 1,187 Net loss $ (44) $ (274) The following financial information presents our results as if the acquisition of Farfetch had occurred on January 1, 2023: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Pro Forma Information Total net revenues $ 7,866 $ 6,791 $ 22,490 $ 19,558 Net income (loss) $ 61 $ 103 $ (167) $ 158

Net Revenues - Schedule of disa

Net Revenues - Schedule of disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total net revenues	$ 7,866	$ 6,184	$ 22,303	$ 17,822
Net retail sales
Disaggregation of Revenue [Line Items]
Total net revenues	6,140	5,315	17,814	15,660
Third-party merchant services
Disaggregation of Revenue [Line Items]
Total net revenues	1,499	709	3,920	1,732
Other revenue
Disaggregation of Revenue [Line Items]
Total net revenues	$ 227	$ 160	$ 569	$ 430

Net Revenues - Narrative (Detai

Net Revenues - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue recognized in period	$ 92	$ 89

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 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 Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total net revenues	$ 7,866	$ 6,184	$ 22,303	$ 17,822
Total segment adjusted EBITDA	343	239	954	780
Reconciling items:
Interest expense	(36)	(13)	(100)	(34)
Interest income	55	50	163	124
Other income (expense), net	4	(8)	7	(20)
Income before income taxes	132	117	194	412
Operating segments | Product Commerce
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total net revenues	6,891	5,966	19,816	17,306
Total segment adjusted EBITDA	470	399	1,467	1,095
Operating segments | Developing Offerings
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total net revenues	975	218	2,487	516
Total segment adjusted EBITDA	(127)	(161)	(513)	(316)
Segment reconciling items
Reconciling items:
Depreciation and amortization	(112)	(67)	(313)	(198)
Equity-based compensation	(114)	(84)	(311)	(240)
Acquisition and restructuring related costs	(8)	0	(85)	0
KFTC administrative fine (see Note 10)	0	0	(121)	0
Interest expense	(36)	(13)	(100)	(34)
Interest income	55	50	163	124
Other income (expense), net	$ 4	$ (8)	$ 7	$ (20)

Defined Severance Benefits (Det

Defined Severance Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Retirement Benefits [Abstract]
Current service costs	$ 43	$ 36	$ 123	$ 104
Interest cost	3	3	11	10
Amortization of:
Prior service credit	1	1	2	2
Net actuarial loss	1	1	2	1
Net periodic benefit cost	$ 48	$ 41	$ 138	$ 117

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income attributable to Coupang stockholders	$ 70	$ 91	$ (2)	$ 327
Denominator:
Weighted-average shares used in computing net (loss) income per share attributable to Class A and Class B common stockholders, basic (in shares)	1,795	1,784	1,792	1,780
Dilutive effect of equity compensation awards (in shares)	34	24	0	21
Weighted-average shares used in computing net (loss) income per share attributable to Class A and Class B common stockholders, diluted (in shares)	1,829	1,808	1,792	1,801
Net income (loss) attributable to Class A and Class B common stockholders per share, basic (in USD per share)	$ 0.04	$ 0.05	$ 0	$ 0.18
Net income (loss) attributable to Class A and Class B common stockholders per share, diluted (in USD per share)	$ 0.04	$ 0.05	$ 0	$ 0.18
Share-based Payment Arrangement
Denominator:
Anti-dilutive shares (in shares)	0	2	30	4

Fair Value Measurement (Details

Fair Value Measurement (Details) - Level 1 - Fair Value, Recurring - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Money market trust
Financial assets
Cash and cash equivalents	$ 1,737	$ 1,582
Restricted cash	92	86
Money market fund
Financial assets
Cash and cash equivalents	$ 723	$ 1,205

Supplemental Financial Inform_3

Supplemental Financial Information - Supplemental Disclosure of Cash-flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental disclosure of cash flow information
Cash paid for the amount used to measure the operating lease liabilities	$ 425	$ 325
Operating lease assets obtained in exchange for lease obligations	829	321
Net increase to operating lease right-of-use assets resulting from remeasurements of lease obligations	168	77
Non-cash investing and financing activities
Increase in property and equipment-related accounts payable	$ 51	$ 14

Supplemental Financial Inform_4

Supplemental Financial Information - Schedule of Cash and Cash Equilvalents (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 5,822	$ 5,243
Restricted cash	139	353
Noncurrent assets
Restricted cash included in long-term lease deposits and other	1	1
Total cash, cash equivalents and restricted cash	$ 5,962	$ 5,597	$ 5,261	$ 3,687

Supplemental Financial Inform_5

Supplemental Financial Information - Supplier Financing Arrangements (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts payable	Accounts payable
Supplier finance program, obligation	$ 465	$ 459

Supplemental Financial Inform_6

Supplemental Financial Information - Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accumulated foreign currency adjustment attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity, attributable to parent	$ 6	$ 44
Accumulated defined benefit plans adjustment attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity, attributable to parent	$ (56)	$ (60)

Supplemental Financial Inform_7

Supplemental Financial Information - Share Repurchase (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2024	Jun. 30, 2024
Repurchase of Class A common stock		$ 178
Common class A
Stock repurchased during period (in shares)	10
Repurchase of Class A common stock	$ 178

Short-Term Borrowings and Lon_2

Short-Term Borrowings and Long-term Debt (Details) $ in Millions		1 Months Ended
	Jan. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Jan. 31, 2024 USD ($)
Subsidiary of Limited Partnership | Farfetch Holdings | Farfetch Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount	$ 575
Farfetch Term Loan repayment	$ 58
Term loan acquired through credit agreement quarterly repayments (in percent)	0.0025
Long-term debt, outstanding		$ 571
Subsidiary of Limited Partnership | Farfetch Holdings | Farfetch Term Loan | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Variable rate	6.25%
Line of credit | Revolving credit facility | February 2026 Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing limit, total initial borrowings			$ 875
Additional accordion feature, incremental increase limit			$ 1,250
Line of credit | Revolving credit facility | Taiwan Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing limit, total initial borrowings		207
Additional accordion feature, incremental increase limit		$ 307
Debt instrument term		5 years
Line of credit | Revolving credit facility | Taiwan Revolving Credit Facility | Taipei Interbank Offered Rate (TAIBOR)
Debt Instrument [Line Items]
Variable rate		1.25%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended	5 Months Ended	9 Months Ended
	Jun. 30, 2024 USD ($)	Dec. 31, 2023 action	Sep. 30, 2024 USD ($) paymentInstallment	Jan. 30, 2024 USD ($)
Loss Contingencies [Line Items]
Number of legal actions filed against former and current directors and officers | action		3
Farfetch Holdings
Loss Contingencies [Line Items]
Intangible assets				$ 325
New Guards Group
Loss Contingencies [Line Items]
Licensing agreement, term			8 years
Loss contingency, damages sought, value			$ 312
New Guards Group | Farfetch Holdings
Loss Contingencies [Line Items]
Guarantee liability			136
Intangible assets			$ 44
KFTC vs Coupang
Loss Contingencies [Line Items]
Number of penalty payment installments | paymentInstallment			6
Penalty payment term			2 years
Judicial Ruling | KFTC vs Coupang
Loss Contingencies [Line Items]
Loss contingency, damages awarded	$ 121

Business Combinations - Farfe_3

Business Combinations - Farfetch - Farfetch Acquisition (Details) - Farfetch Holdings $ in Millions	Jan. 30, 2024 USD ($)
Business Combination, Separately Recognized Transactions [Line Items]
Total consideration	$ 208
Farfetch Term Loan | Subsidiary of Limited Partnership
Business Combination, Separately Recognized Transactions [Line Items]
Farfetch Term Loan repayment	58
Bridge Loan
Business Combination, Separately Recognized Transactions [Line Items]
Bridge Loan contribution	$ 150

Business Combinations - Farfe_4

Business Combinations - Farfetch - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - Farfetch Holdings $ in Millions	Jan. 30, 2024 USD ($)
Assets acquired
Cash and cash equivalents	$ 126
Accounts receivable, net	288
Inventories	310
Prepaids and other current assets	224
Property and equipment, net	95
Intangible assets	325
Operating lease right-of-use assets	209
Other non-current assets	227
Liabilities assumed
Accounts payable	(505)
Other current liabilities	(169)
Long-term debt	(557)
Operating lease obligations	(214)
Other non-current liabilities	(177)
Net assets assumed	182
Noncontrolling interests	(78)
Goodwill on acquisition	104
Total consideration	$ 208

Business Combinations - Farfe_5

Business Combinations - Farfetch Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Farfetch Holdings
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Goodwill, measurement period adjustment	$ 22

Business Combinations - Farfe_6

Business Combinations - Farfetch - Finite-Lived Intangible Assets Acquired (Details) - Farfetch Holdings $ in Millions	Jan. 30, 2024 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 325
Brand trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	5 years
Estimated Fair Value	$ 130
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	5 years
Estimated Fair Value	$ 34
Supplier relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	15 years
Estimated Fair Value	$ 61
Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	3 years
Estimated Fair Value	$ 38
Brand licenses
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	8 years
Estimated Fair Value	$ 62

Business Combinations - Farfe_7

Business Combinations - Farfetch - Proforma Information (Details) - Farfetch Holdings - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total net revenues	$ 439		$ 1,187
Net loss	(44)		(274)
Total net revenues	7,866	$ 6,791	22,490	$ 19,558
Net income (loss)	$ 61	$ 103	$ (167)	$ 158