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Business combinations, goodwill and intangible assets (Tables) | 3 Months Ended
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Mar. 31, 2014
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 is as follows:
|  | March 31, 2014 |  |  | December 31, 2013 |
Goodwill |  | $ | 51,959,430 |  |  | $ | 55,101,218 |
Intangible assets with indefinite lives |  |  |  |  |  |  |  |
- Trademarks |  |  | 5,224,271 |  |  |  | 5,238,090 |
Amortizable intangible assets |  |  |  |  |  |  |  |
- Licenses and others |  |  | 3,080,543 |  |  |  | 3,430,003 |
- Non-compete agreement |  |  | 979,402 |  |  |  | 1,025,605 |
- Customer list |  |  | 1,484,131 |  |  |  | 1,568,190 |
Total intangible assets |  | $ | 10,768,347 |  |  | $ | 11,261,888 |
Accumulated amortization |  |  | (4,374,743 | ) |  |  | (4,670,303 | )
Total intangible assets, net |  | $ | 6,393,604 |  |  | $ | 6,591,585 |
Table Showing Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the three-month period ended March 31, 2014 and the year ended December 31, 2013 are as follows:
|  | Period ended March 31, 2014 |
|  | Brazil |  |  | Argentina |  |  | Chile |  |  | Mexico |  |  | Venezuela |  |  | Colombia |  |  | Other Countries |  |  | Total |
Balance, beginning of the period |  | $ | 10,366,018 |  |  | $ | 14,676,145 |  |  | $ | 6,520,194 |  |  | $ | 11,376,140 |  |  | $ | 5,251,667 |  |  | $ | 5,506,062 |  |  | $ | 1,404,992 |  |  | $ | 55,101,218 |
- Effect of exchange rates changes |  |  | 138,486 |  |  |  | (2,775,163 | ) |  |  | (317,050 | ) |  |  | (68,795 | ) |  |  | — |  |  |  | (115,016 | ) |  |  | (4,250 | ) |  |  | (3,141,788 | )
Balance, end of the period |  | $ | 10,504,504 |  |  | $ | 11,900,982 |  |  | $ | 6,203,144 |  |  | $ | 11,307,345 |  |  | $ | 5,251,667 |  |  | $ | 5,391,046 |  |  | $ | 1,400,742 |  |  | $ | 51,959,430 |
|  | Year ended December 31, 2013 |
|  | Brazil |  |  | Argentina |  |  | Chile |  |  | Mexico |  |  | Venezuela |  |  | Colombia |  |  | Other Countries |  |  | Total |
Balance, beginning of 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 |
- Business Acquisition |  |  | 1,307,644 |  |  |  | 659,159 |  |  |  | — |  |  |  | 186,806 |  |  |  | 405,637 |  |  |  | 69,385 |  |  |  | 40,030 |  |  |  | 2,668,661 |
- Effect of exchange rates changes |  |  | (1,647,907 | ) |  |  | (4,872,108 | ) |  |  | (595,017 | ) |  |  | (215,446 | ) |  |  | — |  |  |  | (460,459 | ) |  |  | (142,569 | ) |  |  | (7,933,506 | )
Balance, end of the year |  | $ | 10,366,018 |  |  | $ | 14,676,145 |  |  | $ | 6,520,194 |  |  | $ | 11,376,140 |  |  | $ | 5,251,667 |  |  | $ | 5,506,062 |  |  | $ | 1,404,992 |  |  | $ | 55,101,218 |
Expected Intangible Asset Amortization Expense | The estimated aggregate amortization expense for each of the five succeeding fiscal years, as of March 31, 2014 is as follows:
For year ended 12/31/2014 |  | $ | 435,454 |
For year ended 12/31/2015 |  |  | 501,505 |
For year ended 12/31/2016 |  |  | 211,716 |
Thereafter |  |  | 20,658 |
|  | $ | 1,169,333 |

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- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13854-109267 + Details
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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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