XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Segment Reporting | 3 Months Ended
--- | ---
Mar. 31, 2016
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, Bolivia, Guatemala, Paraguay, 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 Period March 31, 2016
﻿ |  | Brazil |  | Argentina |  | Mexico |  | Venezuela |  | Other Countries |  | Total
﻿ |  | (In thousands)
﻿Net revenues |  | $ 77,535 |  | $ 48,201 |  | $ 11,116 |  | $ 12,105 |  | $ 8,673 |  | $ 157,630
﻿Direct costs |  | (50,287) |  | (27,757) |  | (9,438) |  | (5,134) |  | (6,201) |  | (98,817)
﻿Direct contribution |  | 27,248 |  | 20,444 |  | 1,678 |  | 6,971 |  | 2,472 |  | 58,813
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿Operating expenses and indirect costs of net revenues |  |  |  |  |  |  |  |  |  |  |  | (28,324)
﻿Income from operations |  |  |  |  |  |  |  |  |  |  |  | 30,489
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |
﻿Interest income and other financial gains |  |  |  |  |  |  |  |  |  |  |  | 7,251
﻿Interest expense and other financial losses |  |  |  |  |  |  |  |  |  |  |  | (5,684)
﻿Foreign currency gain |  |  |  |  |  |  |  |  |  |  |  | 5,147
﻿Net income before income / asset tax expense |  |  |  |  |  |  |  |  |  |  |  | $ 37,203
﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Three Months period ended March 31, 2015
﻿ |  | Brazil |  | Argentina |  | Mexico |  | Venezuela |  | Other Countries |  | Total
﻿ |  | (In thousands)
﻿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 gain |  |  |  |  |  |  |  |  |  |  |  | (8,570)
﻿Net income before income / asset tax expense |  |  |  |  |  |  |  |  |  |  |  | $ 16,376
﻿ ﻿ The following table summarizes the allocation of property and equipment, net based on geography: ﻿
﻿ |  |  |  |
﻿ |  | March 31, |  | December 31,
﻿ |  | 2016 |  | 2015
﻿ |  | (In thousands)
﻿US property and equipment, net |  | $ 11,862 |  | $ 12,756
﻿Other countries |  |  |  |
﻿Argentina |  | 22,945 |  | 22,379
﻿Brazil |  | 23,445 |  | 17,150
﻿Mexico |  | 2,707 |  | 2,475
﻿Venezuela |  | 21,483 |  | 21,556
﻿Other countries |  | 7,490 |  | 5,317
﻿ |  | $ 78,070 |  | $ 68,877
﻿Total property and equipment, net |  | $ 89,932 |  | $ 81,633
﻿ ﻿ The following table summarizes the allocation of the goodwill and intangible assets based on geography:
﻿ |  |  |  |
﻿ |  | March 31, |  | December 31,
﻿ |  | 2016 |  | 2015
﻿ |  | (In thousands)
﻿US intangible assets |  | $ 203 |  | $ 235
﻿Other countries goodwill and intangible assets |  |  |  |
﻿Argentina |  | 8,542 |  | 8,763
﻿Brazil |  | 24,571 |  | 21,338
﻿Mexico |  | 46,419 |  | 46,186
﻿Venezuela |  | 7,434 |  | 7,217
﻿Other countries |  | 33,266 |  | 31,797
﻿ |  | $ 120,232 |  | $ 115,301
﻿Total goodwill and intangible assets |  | $ 120,435 |  | $ 115,536
﻿ ﻿ ﻿ ﻿ Consolidated net revenues by similar prod ucts and services for the three-month periods ended March 31, 201 6 and 201 5 were as follows: ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |
﻿ |  | Three-months Ended March 31, |
﻿ |  |  |  |  |
﻿Consolidated Net Revenues |  | 2016 |  | 2015 |
﻿ |  | (In thousands)
﻿Marketplace |  | $ 94,098 |  | $ 94,762 |
﻿Non-marketplace (*) |  | $ 63,532 |  | $ 53,341 |
﻿Total |  | $ 157,630 |  | $ 148,103 |
﻿ ﻿ ﻿ (*) Includes, among other things, Ad Sales, Real Estate, Motors, Financing Fees, Off-platform Payment Fees, Shipping Fees and other ancillary services. ﻿

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 2: 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 3: 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 4: 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 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 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 7: 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 8: 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 9: 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 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 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 12: 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 13: 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 14: 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 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration