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Segment Reporting | 3 Months Ended
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Mar. 31, 2015
Segment Reporting [Abstract] |
Segment Reporting | 5. Segment reporting Reporting segments are based upon the Company’s internal organizational structure, the manner in which the Company’s operations are managed, the criteria used by management to evaluate the Company’s performance, the availability of separate financial information, and overall materiality considerations. Segment reporting is based on geography as the main basis of segment breakdown to reflect the evaluation of the Company’s performance defined by the management. The Company’s segments include Brazil, Argentina, Mexico, Venezuela and other countries (such as Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Uruguay and USA). Direct contribution consists of net revenues from external customers less direct costs and any impairment of long lived assets. Direct costs include specific costs of net revenues, sales and marketing expenses, and general and administrative expenses over which segment managers have direct discretionary control, such as advertising and marketing programs, customer support expenses, allowances for doubtful accounts, payroll, third party fees. All corporate related costs have been excluded from the Company’s direct contribution. Expenses over which segment managers do not currently have discretionary control, such as certain technology and general and administrative costs are monitored by management through shared cost centers and are not evaluated in the measurement of segment performance. The following tables summarize the financial performance of the Company’s reporting segments:
|  | Three Months Ended March 31, 2015
|  | (In thousands)
|  | Brazil |  | Argentina |  | Mexico |  | Venezuela |  | Other Countries |  | Total
Net revenues |  | $ 68,498 |  | $ 47,431 |  | $ 9,437 |  | $ 13,955 |  | $ 8,782 |  | $ 148,103
Direct costs |  | (39,681) |  | (24,785) |  | (5,969) |  | (4,204) |  | (5,172) |  | (79,811)
Impairment of Long-lived Assets |  | — |  | — |  | — |  | (16,226) |  | — |  | (16,226)
Direct contribution |  | 28,817 |  | 22,646 |  | 3,468 |  | (6,475) |  | 3,610 |  | 52,066
Operating expenses and indirect costs of net revenues |  |  |  |  |  |  |  |  |  |  |  | (26,478)
Income from operations |  |  |  |  |  |  |  |  |  |  |  | 25,588
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |
Interest income and other financial gains |  |  |  |  |  |  |  |  |  |  |  | 4,308
Interest expense and other financial losses |  |  |  |  |  |  |  |  |  |  |  | (4,950)
Foreign currency losses |  |  |  |  |  |  |  |  |  |  |  | (8,570)
Net income before income / asset tax expense |  |  |  |  |  |  |  |  |  |  |  | $ 16,376
|  | Three Months Ended March 31, 2014
|  | (In thousands)
|  | Brazil |  | Argentina |  | Mexico |  | Venezuela |  | Other Countries |  | Total
Net revenues |  | $ 52,434 |  | $ 27,962 |  | $ 8,083 |  | $ 19,357 |  | $ 7,546 |  | $ 115,382
Direct costs |  | (30,517) |  | (16,916) |  | (4,578) |  | (5,635) |  | (3,914) |  | (61,560)
Direct contribution |  | 21,917 |  | 11,046 |  | 3,505 |  | 13,722 |  | 3,632 |  | 53,822
Operating expenses and indirect costs of net revenues |  |  |  |  |  |  |  |  |  |  |  | (19,821)
Income from operations |  |  |  |  |  |  |  |  |  |  |  | 34,001
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |
Interest income and other financial gains |  |  |  |  |  |  |  |  |  |  |  | 3,036
Interest expense and other financial losses |  |  |  |  |  |  |  |  |  |  |  | (1,027)
Foreign currency gains |  |  |  |  |  |  |  |  |  |  |  | 3,093
Net income before income / asset tax expense |  |  |  |  |  |  |  |  |  |  |  | $ 39,103
The following table summarizes the allocation of property and equipment, net based on geography:
|  | March 31, |  | December 31,
|  | 2015 |  | 2014
|  | (In thousands)
US Property and equipment, net |  | $ 11,434 |  | $ 13,226
Other countries property and equipment, net |  |  |  |
Argentina |  | 29,382 |  | 28,005
Brazil |  | 8,211 |  | 8,237
Mexico |  | 2,745 |  | 2,801
Venezuela (*) |  | 20,618 |  | 36,237
Other countries |  | 3,555 |  | 3,039
|  | $ 64,511 |  | $ 78,319
Total Property and equipment, net |  | $ 75,945 |  | $ 91,545
(*) After the impairment of Venezuelan long-lived assets. See Note 2 “Foreign currency translation - Venezuelan currency status”. The following table summarizes the allocation of the goodwill and intangible assets based on geography:
|  | March 31, |  | December 31,
|  | 2015 |  | 2014
|  | (In thousands)
US intangible assets |  | $ 153 |  | $ 172
Other countries goodwill and intangible assets |  |  |  |
Argentina |  | 12,975 |  | 12,580
Brazil |  | 9,645 |  | 11,212
Mexico |  | 20,929 |  | 21,734
Venezuela |  | 7,480 |  | 7,515
Other countries (*) |  | 37,196 |  | 38,787
|  | $ 88,225 |  | $ 91,828
Total goodwill and intangible assets |  | $ 88,378 |  | $ 92,000
(*) Includes the acquisition of online classified advertisement company in Chile. See Note 6. Consolidated net revenues by similar prod ucts and services for the three-month periods ended March 3 1, 201 5 and 201 4 were as follows:
|  | Three-months Ended March 31,
|  | 2015 |  | 2014
Consolidated Net Revenues |  | (In thousands)
Marketplace |  | $ 94,762 |  | $ 83,442
Non-marketplace (*) |  | 53,341 |  | 31,940
Total |  | $ 148,103 |  | $ 115,382
(*) Includes, among other things, Ad Sales, Real Estate, Motors, Financing Fees, Off-platform Payment Fees and other ancillary services.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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