XML 60 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Net Income per Share
 3 Months Ended
Mar. 31, 2012
Net Income per Share [Abstract]  
Net Income per Share

3. Net income per share

Basic earnings per share for the Company’s common stock is computed by dividing net income available to common shareholders attributable to common stock for the period by the weighted average number of common shares outstanding during the period.

Diluted earnings per share for the Company’s common stock assume the exercise of outstanding stock options and shares granted under the 2008 Long Term Retention Plan under the Company’s stock based employee compensation plans.

The following table shows how net income available to common shareholders is allocated using the two-class method, for the three-month periods ended March 31, 2012 and 2011:

 

 

                                 
    Three Months Ended March 31,  
    2012     2011  
    Basic     Diluted     Basic     Diluted  

Net income

   $ 19,637,038     $ 19,637,038     $ 14,057,634     $ 14,057,634  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income attributable to Noncontrolling interests

     (2,428 )      (2,428 )      —         —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Change in redeemable amount of noncontrolling interest

     316,298       316,298       —         —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income attributable to MercadoLibre, Inc.corresponding to common stock

   $ 19,950,908     $ 19,950,908     $ 14,057,634     $ 14,057,634  
   

 

 

    

 

 

    

 

 

    

 

 

  

 

Net income per share of common stock is as follows for the three-month periods ended March 31, 2012 and 2011:

 

 

                                 
    Three Months Ended March 31,  
    2012     2011  
    Basic     Diluted     Basic     Diluted  

Net income attributable to MercadoLibre, Inc. per common share

   $ 0.45     $ 0.45     $ 0.32     $ 0.32  
   

 

 

    

 

 

    

 

 

    

 

 

  

Numerator:

                                

Net income attributable to MercadoLibre, Inc.

   $ 19,950,908     $ 19,950,908     $ 14,057,634     $ 14,057,634  
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator:

                                

Weighted average of common stock outstanding for Basic earnings per share

     44,142,076       44,142,076       44,131,383       44,131,383  

Adjustment for stock options

     —         5,720       —         11,474  

Adjustment for shares granted under LTRP

     —         —         —         4,810  
   

 

 

    

 

 

    

 

 

    

 

 

  

Adjusted weighted average of common stock outstanding for Diluted earnings per share

     44,142,076       44,147,796       44,131,383       44,147,667  
   

 

 

    

 

 

    

 

 

    

 

 

  

The calculation of diluted net income per share excludes all anti-dilutive shares. During the three-month periods ended March 31, 2012 and 2011, there were no anti-dilutive shares.