Segments (Tables)

12 Months Ended

Dec. 31, 2014

Financial Performance of Company's Reporting Segments

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


	Year Ended December 31, 2014
	Brazil			Argentina			Mexico			Venezuela			Other Countries			Total
Net revenues	$	273,638,197		$	150,667,541		$	37,668,802		$	58,025,886		$	36,535,576		$	556,536,002
Direct costs		(158,412,078	)		(81,273,193	)		(24,067,532	)		(16,584,667	)		(20,163,263	)		(300,500,733	)
Impairment of Long-lived Assets		—			—			—			(49,495,686	)		—			(49,495,686	)

Direct contribution		115,226,119			69,394,348			13,601,270			(8,054,467	)		16,372,313			206,539,583

Operating expenses and indirect costs of net revenues																	(86,068,720	)

Income from operations																	120,470,863


Other income (expenses):
Interest income and other financial gains																	15,335,853
Interest expense and other financial losses																	(11,659,356	)
Foreign currency loss																	(2,351,539	)

Net income before income / asset tax expense																$	121,795,821


	Year Ended December 31, 2013
	Brazil			Argentina			Mexico			Venezuela			Other Countries			Total
Net revenues	$	206,394,480		$	122,123,347		$	32,843,482		$	84,572,485		$	26,660,915		$	472,594,709
Direct costs		(119,422,924	)		(66,492,770	)		(18,558,010	)		(29,578,762	)		(12,339,112	)		(246,391,578	)

Direct contribution		86,971,556			55,630,577			14,285,472			54,993,723			14,321,803			226,203,131

Operating expenses and indirect costs of net revenues																	(72,664,076	)

Income from operations																	153,539,055


Other income (expenses):
Interest income and other financial gains																	10,668,593
Interest expense and other financial losses																	(2,355,929	)
Foreign currency gains																	1,258,476
Other losses, net																	(751	)

Net income before income / asset tax expense																	163,109,444


	Year Ended December 31, 2012
	Brazil			Argentina			Mexico			Venezuela			Other Countries			Total
Net revenues	$	179,639,592		$	88,513,640		$	26,987,130		$	54,676,170		$	23,784,962		$	373,601,494
Direct costs		(104,501,652	)		(41,841,587	)		(14,912,375	)		(17,768,989	)		(11,458,627	)		(190,483,230	)

Direct contribution		75,137,940			46,672,053			12,074,755			36,907,181			12,326,335			183,118,264

Operating expenses and indirect costs of net revenues																	(53,460,393	)

Income from operations																	129,657,871


Other income (expenses):
Interest income and other financial gains																	11,877,375
Interest expense and other financial losses																	(1,138,379	)
Foreign currency gain																	11,597
Other losses, net																	(190,938	)

Net income before income / asset tax expense																$	140,217,526

Allocation of Property Plant and Equipment, Net Based on Geography

The following table summarizes the allocation of property and equipment, net based on geography:


	December 31, 2014		December 31, 2013
US property and equipment, net	$	13,226,091	$	9,131,777

Other countries property and equipment, net
Argentina		28,005,493		29,119,057
Brazil		8,237,459		5,559,702
Mexico		2,801,115		711,200
Venezuela *()**		36,237,494		83,655,816
Other countries		3,037,184		3,194,357

	$	78,318,745	$	122,240,132

Total property and equipment, net	$	91,544,836	$	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:


	December 31, 2014		December 31, 2013
US intangible assets	$	171,463	$	10,503

Other countries goodwill and intangible assets
Argentina		12,580,157		15,575,776
Brazil		11,212,437		10,380,974
Mexico		21,734,078		14,512,949
Venezuela		7,514,679		6,913,604
Other countries *()**		38,787,039		14,298,997

	$	91,828,390	$	61,682,300

Total goodwill and intangible assets	$	91,999,853	$	61,692,803

(*)	Includes the acquisition of online classified advertisement company in Chile. See Note 6.

Consolidated Net Revenues by Similar Products and Services

Consolidated net revenues by similar products and services for the years ended December 31, 2014, 2013 and 2012 were as follows:


Consolidated Net Revenues	2014		2013		2012
Marketplace	$	376,156,156	$	331,338,080	$	261,997,021
Non-marketplace (*)	$	180,379,846	$	141,256,629	$	111,604,473


Total	$	556,536,002	$	472,594,709	$	373,601,494

(*)	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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