Net Revenues

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Net Revenues

Net Revenues

Details of total net revenues were as follows:

	Three Months Ended March 31,
(in millions)	2024		2023
Net retail sales	$	5,895	$	5,205
Third-party merchant services	1,047		461
Other revenue	172		135
Total net revenues	$	7,114	$	5,801

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 three months ended March 31, 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.