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Summary of significant accounting policies (Tables)

6 Months Ended

Jun. 30, 2014

Accounting Policies [Abstract]

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 June 30, 2014 and December 31, 2013 and net revenues for the six-month periods ended June 30, 2014 and 2013:

		Six-month periods ended June 30,
		2014				2013
Venezuelan operations
Net Revenues		$	35,908,018			$	32,694,097

		June 30, 2014				December 31, 2013
Assets			59,760,695				126,873,804
Liabilities			(36,209,130	)			(62,437,338	)
Net Assets		$	23,551,565			$	64,436,466

Accumulated Other Comprehensive Income

Accumulated other comprehensive income

The following table sets forth the Company’s accumulated other comprehensive income as of June 30, 2014 and the year ended December 31, 2013:

		June 30, 2014				December 31, 2013
Foreign currency translation		$	(103,583,097	)		$	(87,481,437	)
Unrealized gains on investments			178,019				36,626
Estimated tax loss on unrealized gains on investments			(56,125	)			(11,159	)
		$	(103,461,203	)		$	(87,455,970	)

Summary of Changes in Accumulated Balances of Other Comprehensive Income

The following tables summarize the changes in accumulated balances of other comprehensive income for the six-month period ended June 30, 2014 and the year ended December 31, 2013:

		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			178,019				(16,101,660	)			(56,125	)			(15,979,766	)
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			141,393				(16,101,660	)			(44,966	)			(16,005,233	)
Balances as of June 30, 2014		$	178,019			$	(103,583,097	)		$	(56,125	)		$	(103,461,203	)

Details about Accumulated Other Comprehensive Income Components for the three-month period ended June 30, 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

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- Definition

Assets liabilities and net assets of company's subsidiaries.

+ References

No definition available.

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- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14A

-URI http://asc.fasb.org/extlink&oid=28358780&loc=SL7669686-108580

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Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e526-108580

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