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Business Combinations, Goodwill and Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2013
Text Block [Abstract] |
Preliminary Purchase Price Allocation for Acquisition | The following table summarizes the definitive purchase price allocation for the acquisition:
Net assets acquired |  | $ | 237,891 |
Goodwill |  |  | 2,668,661 |
Purchase price |  |  | 2,906,552 |
Escrow for employment relationship |  |  | 547,945 |
Aggregate price paid |  | $ | 3,454,497 |
Composition of Goodwill and Intangible Assets | The composition of Goodwill and Intangible assets, as of June 30, 2013 and December 31, 2012 was as follows:
|  | June 30, |  |  | December 31, |
|  | 2013 |  |  | 2012 |
|  | (Unaudited) |  |  | (Audited) |
Goodwill |  | $ | 59,558,023 |  |  | $ | 60,366,063 |
Intangible assets with indefinite lives |  |  |  |  |  |  |  |
- Trademarks |  |  | 5,251,046 |  |  |  | 5,326,057 |
Amortizable intangible assets |  |  |  |  |  |  |  |
- Licenses and others |  |  | 3,563,361 |  |  |  | 3,829,668 |
- Non-compete agreement |  |  | 1,105,573 |  |  |  | 1,195,509 |
- Customer list |  |  | 1,600,514 |  |  |  | 1,708,770 |
Total intangible assets |  | $ | 11,520,494 |  |  | $ | 12,060,004 |
Accumulated amortization |  |  | (4,802,728 | ) |  |  | (4,780,139 | )
Total intangible assets, net |  | $ | 6,717,766 |  |  | $ | 7,279,865 |
Table Showing Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the six-month period ended June 30, 2013 and the year ended December 31, 2012, are as follows:
|  | Period ended June 30, 2013 (Unaudited) |
|  | Brazil |  |  | Argentina |  |  | Chile |  |  | Mexico |  |  | Venezuela |  |  | Colombia |  |  | Other Countries |  |  | Total |
Balance, beginning of period |  | $ | 10,706,281 |  |  | $ | 18,889,094 |  |  | $ | 7,115,211 |  |  | $ | 11,404,780 |  |  | $ | 4,846,030 |  |  | $ | 5,897,136 |  |  | $ | 1,507,531 |  |  | $ | 60,366,063 |
- Business acquisition |  |  | 1,307,644 |  |  |  | 659,159 |  |  |  | — |  |  |  | 186,806 |  |  |  | 405,637 |  |  |  | 69,385 |  |  |  | 40,030 |  |  |  | 2,668,661 |
- Effect of exchange rates change |  |  | (896,673 | ) |  |  | (1,561,458 | ) |  |  | (337,502 | ) |  |  | (63,521 | ) |  |  | (20,178 | ) |  |  | (477,030 | ) |  |  | (120,339 | ) |  |  | (3,476,701 | )
Balance, end of the period |  | $ | 11,117,252 |  |  | $ | 17,986,795 |  |  | $ | 6,777,709 |  |  | $ | 11,528,065 |  |  | $ | 5,231,489 |  |  | $ | 5,489,491 |  |  | $ | 1,427,222 |  |  | $ | 59,558,023 |
|  | Year ended December 31, 2012 (Audited) |
|  | 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 change |  |  | (957,162 | ) |  |  | (2,694,680 | ) |  |  | 537,752 |  |  |  | 782,941 |  |  |  | — |  |  |  | 529,610 |  |  |  | 73,654 |  |  |  | (1,727,885 | )
Balance, end of the year |  | $ | 10,706,281 |  |  | $ | 18,889,094 |  |  | $ | 7,115,211 |  |  | $ | 11,404,780 |  |  | $ | 4,846,030 |  |  | $ | 5,897,136 |  |  | $ | 1,507,531 |  |  | $ | 60,366,063 |
Estimated Aggregate Amortization Expense | The estimated aggregate amortization expense for each of the four succeeding fiscal years, as of June 30, 2013 is as follows:
For year ended 12/31/2013 |  | $ | 348,840 |
For year ended 12/31/2014 |  |  | 582,226 |
For year ended 12/31/2015 |  |  | 472,090 |
For year ended 12/31/2016 |  |  | 63,564 |
|  | $ | 1,466,720 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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