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Business Combinations, Goodwill and Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2012
Business Combinations, Goodwill and Intangible Assets [Abstract]  
Allocation of the cash paid in the acquisition
         

Net Tangible Assets

   $ 153,349  

Identifiable Intangible Assets

     3,290,998  

Deferred Tax Liabilities

     (987,299 ) 

Goodwill

     6,663,045  

Noncontrolling interest

     (3,648,037 ) 
   

 

 

  

Aggregate Purchase Price

   $ 5,472,056  
   

 

 

  
Composition of goodwill and intangible assets
                 
    March 31,     December 31,  
    2012     2011  

Goodwill

   $ 63,935,487     $ 62,093,948  

Intangible assets with indefinite lives

                

- Trademarks

     5,363,349       5,068,147  

Amortizable intangible assets

                

- Licenses and others

     2,808,875       2,798,112  

- Non-compete agreement

     1,304,151       1,270,807  

- Customer list

     1,795,001       1,742,087  
   

 

 

    

 

 

  

Total intangible assets

   $ 11,271,376     $ 10,879,153  

Accumulated amortization

     (4,644,589 )      (4,384,296 ) 
   

 

 

    

 

 

  

Total intangible assets, net

   $ 6,626,787     $ 6,494,857  
   

 

 

    

 

 

  
Table showing changes in the carrying amount of goodwill
                                                                 
    Period ended March 31, 2012  
    Brazil     Argentina     Chile     Mexico     Venezuela     Colombia     Other Countries     Total  

Balance, beginning of year

   $ 11,663,443     $ 21,583,774     $ 6,577,459     $ 10,621,839     $ 4,846,030     $ 5,367,526     $ 1,433,877     $ 62,093,948  

- Effect of exchange rates changes

     343,739       (369,670 )      428,566       945,932       —         475,320       17,652       1,841,539  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance, end of the period

   $ 12,007,182     $ 21,214,104     $ 7,006,025     $ 11,567,771     $ 4,846,030     $ 5,842,846     $ 1,451,529     $ 63,935,487  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
   
    Year ended December 31, 2011  
    Brazil     Argentina     Chile     Mexico     Venezuela     Colombia     Other Countries     Total  

Balance, beginning of year

   $ 13,130,649     $ 23,364,326     $ 7,296,888     $ 5,025,623     $ 4,846,030     $ 5,448,068     $ 1,384,730     $ 60,496,314  

- Purchase of Autoplaza.com

     —         —         —         6,663,045       —         —         —         6,663,045  

- Effect of exchange rates changes

     (1,467,206 )      (1,780,552 )      (719,429 )      (1,066,829 )      —         (80,542 )      49,147       (5,065,411 ) 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance, end of the year

   $ 11,663,443     $ 21,583,774     $ 6,577,459     $ 10,621,839     $ 4,846,030     $ 5,367,526     $ 1,433,877     $ 62,093,948  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
Expected future intangible asset amortization from acquisitions
         

For year ended 12/31/2012

   $ 461,383  

For year ended 12/31/2013

     455,163  

For year ended 12/31/2014

     184,970  

For year ended 12/31/2015

     99,948  

Thereafter

     61,974  
   

 

 

  
    $ 1,263,438