Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2014

Assets, Liabilities and Net Assets of Company's Venezuelan Subsidiaries

The following table sets forth the assets, liabilities and net assets of the Company’s Venezuelan subsidiaries, before intercompany eliminations, as of March 31, 2014 and December 31, 2013 and net revenues for the three-month periods ended March 31, 2014 and 2013:


	Three-month period ended March 31,
	2014			2013
Venezuelan operations
Net Revenues	$	19,356,587		$	15,130,551

	March 31, 2014			December 31, 2013

Assets		125,455,211			126,873,804
Liabilities		(51,591,061	)		(62,437,338	)

Net Assets	$	73,864,150		$	64,436,466

Summary of Changes Accumulated Balances of Other Comprehensive Income

The following tables summarize the changes in accumulated balances of other comprehensive income for the three-month period ended March 31, 2014 and the year ended December 31, 2013:


	March 31, 2014			December 31, 2013

Foreign currency translation	$	(104,216,669	)	$	(87,481,437	)
Unrealized gains on investments		55,210			36,626
Estimated tax loss on unrealized gains on investments		(16,881	)		(11,159	)

	$	(104,178,340	)	$	(87,455,970	)


	Unrealized Gains on Investments			Foreign Currency Translation			Estimated tax (expense) benefit			Total
Balances as of December 31, 2013	$	36,626		$	(87,481,437	)	$	(11,159	)	$	(87,455,970	)
Other comprehensive income before reclassification adjustments for gains on available for sale investments		55,210			(16,735,232	)		(16,881	)		(16,696,903	)
Amount of gain (loss) reclassified from accumulated other comprehensive income to net income	$	(36,626	)		—		$	11,159			(25,467	)

Net current period other comprehensive income		18,584			(16,735,232	)		(5,722	)		(16,722,370	)

Balances as of March 31, 2014	$	55,210		$	(104,216,669	)	$	(16,881	)	$	(104,178,340	)


Details about Accumulated Other Comprehensive Income Components for the three-month period ended March 31, 2014	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statement of Income

Unrealized gains on investments	$	36,626		Interest income and other financial gains

Estimated tax loss on unrealized gains on investments		(11,159	)	Income / asset tax expense


Total reclassifications for the period	$	25,467		Total, net of income taxes