3. Net income per share

Basic earnings per share for the Company’s common stock is computed by dividing, net income available to common shareholders attributable to common stock for the period, and the corresponding adjustment attributable to changes in redeemable non-controlling interest, by the weighted average number of common shares outstanding during the period.

Diluted earnings per share for the Company’s common stock assume the issuance of shares as a consequence of a convertible debt securities conversion event (refer to Note 9 to these interim condensed consolidated financial statements) and the effect of assumed share settlement of Long-term retention plans (refer to Note 8 to these interim condensed consolidated financial statements) for earnings per share calculations.

The following table shows how net income is allocated using the “if converted” and the “treasury stock” method for convertible debt securities and Long-term retention plans, respectively, for earnings per common share for the six and three-month periods ended June 30, 2015 and 2014:


	Six Months Ended June 30,
	2015		2014
	(In thousands)
	Basic	Diluted	Basic	Diluted
Net income	$ 21,184	$ 21,184	$ 4,740	$ 4,740

Net income attributable to noncontrolling interests	—	—	(70)	(70)

Change in redeemable amount of noncontrolling interest	—	—	4	4

Net income attributable to MercadoLibre, Inc. Shareholders
corresponding to common stock	$ 21,184	$ 21,184	$ 4,674	$ 4,674


	Three Months Ended June 30,
	2015		2014
	(In thousands)
	Basic	Diluted	Basic	Diluted
Net income (loss)	$ 19,463	$ 19,463	$ (25,589)	$ (25,589)
Net income attributable to noncontrolling interests	—	—	(6)	(6)
Change in redeemable amount of noncontrolling interest	—	—	(121)	(121)

Net income (loss) attributable to MercadoLibre, Inc. Shareholders
corresponding to common stock	$ 19,463	$ 19,463	$ (25,716)	$ (25,716)

Net income per share of common stock is as follows for the six and three-month periods ended June 30, 2015 and 2014:


	Six months Ended June 30,				Three Months Ended June 30,
	2015		2014		2015		2014
	(In thousands, except per share data)				(In thousands, except per share data)
	Basic	Diluted	Basic	Diluted	Basic	Diluted	Basic	Diluted

Net income (loss) attributable to MercadoLibre, Inc. Shareholders per common share	$ 0.48	$ 0.48	$ 0.11	$ 0.11	$ 0.44	$ 0.44	$ (0.58)	$ (0.58)
Numerator:
Net income (loss) attributable to MercadoLibre, Inc. Shareholders	$ 21,184	$ 21,184	$ 4,674	$ 4,674	$ 19,463	$ 19,463	$ (25,716)	$ (25,716)

Denominator:
Weighted average of common stock outstanding for Basic earnings per share	44,155,035	44,155,035	44,153,658	44,153,658	44,155,271	44,155,271	44,153,892	44,153,892
Adjustment for Convertible Notes	-	-	-	14,468	—	—	—	28,776
Adjusted weighted average of common stock outstanding for Diluted earnings per share	44,155,035	44,155,035	44,153,658	44,168,126	44,155,271	44,155,271	44,153,892	44,182,668

For the six and three-month period ended June 30, 2015 and 2014 there was no impact on the calculation of diluted earnings per share as a consequence of the consideration of the Notes and the Long term retention plan referred to above.