Segment reporting (Tables)

3 Months Ended

Mar. 31, 2014

Financial Performance of Company's Reporting Segments

The following tables summarize the financial performance of the Company’s reporting segments:


	Three Months Ended March 31, 2014
	Brazil			Argentina			Mexico			Venezuela			Other Countries			Total

Net revenues	$	52,434,098		$	27,961,744		$	8,083,185		$	19,356,587		$	7,546,705		$	115,382,319
Direct costs		(30,516,894	)		(16,915,878	)		(4,577,716	)		(5,634,981	)		(3,914,533	)		(61,560,002	)


Direct contribution		21,917,204			11,045,866			3,505,469			13,721,606			3,632,172			53,822,317

Operating expenses and indirect costs of net revenues																	(19,821,230	)


Income from operations																	34,001,087


Other income (expenses):
Interest income and other financial gains																	3,035,630
Interest expense and other financial losses																	(1,027,180	)
Foreign currency gain																	3,093,471
Other losses, net																	—


Net income before income / asset tax expense																$	39,103,008


	Three Months Ended March 31, 2013
	Brazil			Argentina			Mexico			Venezuela			Other Countries			Total

Net revenues	$	47,765,683		$	25,620,747		$	7,790,301		$	15,130,551		$	6,418,465		$	102,725,747
Direct costs		(30,993,544	)		(13,475,710	)		(4,116,828	)		(6,008,108	)		(2,867,981	)		(57,462,171	)


Direct contribution		16,772,139			12,145,037			3,673,473			9,122,443			3,550,484			45,263,576

Operating expenses and indirect costs of net revenues																	(16,692,392	)


Income from operations																	28,571,184


Other income (expenses):
Interest income and other financial gains																	3,394,006
Interest expense and other financial losses																	(360,352	)
Foreign currency loss																	(6,249,714	)
Other losses, net																	(3,733	)


Net income before income / asset tax expense																$	25,351,391

Allocation of Long-Lived Tangible Assets Based on Geography

The following table summarizes the allocation of the long-lived tangible assets based on geography:


	March 31, 2014		December 31, 2013

US long-lived tangible assets	$	11,173,130	$	9,131,777

Other countries long-lived tangible assets
Argentina		24,408,513		29,119,057
Brazil		6,725,644		5,559,702
Mexico		821,222		711,200
Venezuela		83,447,404		83,655,816
Other countries		2,889,014		3,194,357


	$	118,291,797	$	122,240,132


Total long-lived tangible assets	$	129,464,927	$	131,371,909

Allocation of Goodwill and Intangible Assets Based on Geography

The following table summarizes the allocation of the goodwill and intangible assets based on geography:


	March 31, 2014		December 31, 2013

US intangible assets	$	7,877	$	10,503

Other countries goodwill and intangible assets
Argentina		12,650,884		15,575,776
Brazil		10,520,047		10,380,974
Mexico		14,497,179		14,512,949
Venezuela		6,906,569		6,913,604
Other countries		13,770,478		14,298,997


	$	58,345,157	$	61,682,300


Total goodwill and intangible assets	$	58,353,034	$	61,692,803

Consolidated Net Revenues by Similar Products and Services

Consolidated net revenues by similar products and services for the three-month periods ended March 31, 2014 and 2013 were as follows:


Consolidated Net Revenues	Three-month Period Ended March 31,
Consolidated Net Revenues	2014		2013

Marketplace	$	83,442,528	$	71,714,763
Non-marketplace (*)		31,939,791		31,010,984

Total	$	115,382,319	$	102,725,747

(*)	Includes, among other things, Ad Sales, Real Estate, Motors, Financing Fees, Off-platform Payment Fees and other ancillary services.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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