MercadoLibre (MELI) 10-Q 5 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 03, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Registrant Name	MERCADOLIBRE INC
Entity Central Index Key	1,099,590
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		44,157,341

Interim Condensed Consolidated

Interim Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 144,016	$ 166,881
Short-term investments	251,416	202,112
Accounts receivable, net	40,055	28,428
Credit cards receivables, net	215,437	131,946
Prepaid expenses	6,004	6,007
Inventory	990	222
Other assets	15,349	9,577
Total current assets	673,267	545,173
Non-current assets:
Long-term investments	157,832	187,621
Property and equipment, net	104,808	81,633
Goodwill	96,150	86,545
Intangible assets, net	29,126	28,991
Deferred tax assets	36,417	29,688
Other assets	42,549	43,955
Total non-current assets	466,882	458,433
Total assets	1,140,149	1,003,606
Current liabilities:
Accounts payable and accrued expenses	86,068	62,038
Funds payable to customers	277,528	203,247
Salaries and social security payable	32,786	32,918
Taxes payable	16,419	10,092
Loans payable and other financial liabilities	782	1,965
Other liabilities	2,148	7,667
Dividends payable	6,624	4,548
Total current liabilities	422,355	322,475
Non-current liabilities:
Salaries and social security payable	10,239	10,422
Loans payable and other financial liabilities	296,691	294,342
Deferred tax liabilities	32,099	27,049
Other liabilities	14,198	9,860
Total non-current liabilities	353,227	341,673
Total liabilities	775,582	664,148
Equity:
Common stock, $0.001 par value, 110,000,000 shares authorized, 44,157,341 and 44,156,854 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	44	44
Additional paid-in capital	137,979	137,923
Retained earnings	473,627	440,770
Accumulated other comprehensive loss	(247,083)	(239,279)
Total Equity	364,567	339,458
Total Liabilities and Equity	$ 1,140,149	$ 1,003,606

Interim Condensed Consolidated3

Interim Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Interim Condensed Consolidated Balance Sheets [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	110,000,000	110,000,000
Common stock, shares issued	44,157,341	44,156,854
Common stock, shares outstanding	44,157,341	44,156,854

Interim Condensed Consolidated4

Interim Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Interim Condensed Consolidated Statements of Income [Abstract]
Net revenues	$ 199,644	$ 154,314	$ 357,274	$ 302,417
Cost of net revenues	(73,346)	(50,311)	(128,794)	(95,019)
Gross profit	126,298	104,003	228,480	207,398
Operating expenses:
Product and technology development	(24,216)	(19,639)	(46,157)	(36,885)
Sales and marketing	(35,337)	(29,115)	(68,020)	(55,317)
General and administrative	(20,841)	(20,612)	(37,910)	(38,746)
Impairment of Long-Lived Assets	(13,717)		(13,717)	(16,226)
Total operating expenses	(94,111)	(69,366)	(165,804)	(147,174)
Income from operations	32,187	34,637	62,676	60,224
Other income (expenses):
Interest income and other financial gains	8,049	4,683	15,300	8,991
Interest expense and other financial losses	(6,631)	(5,201)	(12,315)	(10,151)
Foreign currency losses	(5,387)	(648)	(240)	(9,217)
Net income before income / asset tax expense	28,218	33,471	65,421	49,847
Income / asset tax expense	(12,360)	(14,008)	(19,316)	(28,663)
Net income	$ 15,858	$ 19,463	$ 46,105	$ 21,184
Basic EPS
Basic net income Shareholders per common share	$ 0.36	$ 0.44	$ 1.04	$ 0.48
Weighted average of outstanding common shares	44,157,341	44,155,271	44,157,151	44,155,035
Diluted EPS
Diluted net income shareholders per common share	$ 0.36	$ 0.44	$ 1.04	$ 0.48
Weighted average of outstanding common shares	44,157,341	44,155,271	44,157,151	44,155,035
Cash Dividends declared	$ 0.150	$ 0.103	$ 0.150	$ 0.206

Interim Condensed Consolidated5

Interim Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Interim Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 15,858	$ 19,463	$ 46,105	$ 21,184
Other comprehensive (loss) income, net of income tax:
Currency translation adjustment	3,108	(1,397)	(8,082)	(23,927)
Unrealized net losses on available for sale investments	(842)	(288)	(394)	(27)
Less: Reclassification adjustment for losses on available for sale investments			(672)	(379)
Net change in accumulated other comprehensive (loss) income, net of income tax	2,266	(1,685)	(7,804)	(23,575)
Total Comprehensive Income (loss)	$ 18,124	$ 17,778	$ 38,301	$ (2,391)

Interim Condensed Consolidated6

Interim Condensed Consolidated Statement of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operations:
Net income	$ 46,105	$ 21,184
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized Devaluation Loss, net	5,162	10,862
Impairment of Long-Lived Assets	13,717	16,226
Depreciation and amortization	13,178	10,970
Accrued interest	(7,918)	(5,769)
Non cash interest and convertible bonds amortization of debt discount and Amortization of debt issuance costs	4,705	8,562
LTRP accrued compensation	10,126	8,463
Deferred income taxes	(1,981)	7,736
Changes in assets and liabilities:
Accounts receivable	(2,833)	(19,342)
Credit Card Receivables	(78,334)	(52,553)
Prepaid expenses	9	(2,327)
Inventory	(637)
Other assets	(7,704)	(4,122)
Accounts payable and accrued expenses	(15,133)	40,974
Funds payable to customers	59,309	52,006
Other liabilities	(566)	(652)
Interest received from investments	7,650	4,613
Net cash provided by operating activities	44,855	96,831
Cash flows from investing activities:
Purchase of investments	(1,559,095)	(950,636)
Proceeds from sale and maturity of investments	1,565,336	926,058
Payment for acquired businesses, net of cash acquired	(7,284)	(45,009)
Purchases of intangible assets	(49)	(1,367)
Advance for property and equipment	(4,963)	(7,473)
Purchases of property and equipment	(32,590)	(16,305)
Net cash used in investing activities	(38,645)	(94,732)
Cash flows from financing activities:
Payments on loans payable and other financing	(6,299)	(4,438)
Dividends paid	(11,172)	(11,878)
Repurchase of Common Stock		(2,714)
Net cash used in financing activities	(17,471)	(19,030)
Effect of exchange rate changes on cash and cash equivalents	(11,604)	(35,822)
Net decrease in cash and cash equivalents	(22,865)	(52,753)
Cash and cash equivalents, beginning of the period	166,881	223,144
Cash and cash equivalents, end of the period	$ 144,016	$ 170,391

Nature of Business

Nature of Business	6 Months Ended
	Jun. 30, 2016
Nature of Business [Abstract]
Nature of Business	1. Nature of Business MercadoLibre, Inc. (“MercadoLibre” or the “Company”) was incorporated in the state of Delaware, in the United States of America in October 1999. MercadoLibre is the leading ecommerce company in Latin America, serving as an integrated regional platform and as an enabler of the necessary online and technology tools to allow businesses and individuals to trade products and services in the region. The Company enables commerce through its marketplace platform (including online classifieds for motor vehicles, vessels, aircraft, services and real estate), which allows users to buy and sell in most of Latin America. Through MercadoPago, MercadoLibre enables individuals and businesses to send and receive online payments; through MercadoEnvios, MercadoLibre facilitates the shipping of goods from sellers to buyers; through MercadoClics and other ad-sales products, MercadoLibre facilitates advertising services to large retailers and brands to promote their product and services on the web; and through MercadoShops, MercadoLibre facilitates users to set-up, manage, and promote their own on-line web-stores under a subscription-based business model. In addition, MercadoLibre develops and sells software enterprise solutions to e-commerce business clients in Brazil. As of June 30, 2016, MercadoLibre, through its wholly-owned subsidiaries, operated online ecommerce platforms directed towards Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Peru, Mexico, Panama, Honduras, Nicaragua, Salvador , Portugal, Uruguay and Venezuela, including the recently launched online ecommerce platforms in Bolivia, Guatemala and Paraguay. Additionally, MercadoLibre operates an online payments solution directed towards Argentina, Brazil, Mexico, Venezuela, Chile and Colombia; and added Peru to its list of countries where the service is offered since June 2016. It also offers a shipping solution directed towards Argentina, Brazil, Mexico, Colombia and added Chile to its list of countries where the service is offered since February 2016. In addition, the Company operates a real estate classified platform that covers some areas of State of Florida, in the United States of America. 

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of significant accounting policies Basis of presentation The accompanying unaudited interim condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) and include the accounts of the Company and its wholly-owned subsidiaries. These interim condensed consolidated financial statements are stated in U.S. dollars , except for amounts otherwise indicated . Intercompany transactions and balances with subsidiaries have been eliminated for consolidation purposes. Substantially all net revenues, cost of net revenues and operating expenses, are generated in the Company’s foreign operations, amounting to approximately 99.9% and 99.9% of the consolidated amounts during the six-month periods ended June 30, 2016 and 2015. Long-lived assets, intangible assets and goodwill located in the foreign operations totaled $219,789 thousands and $184,178 thousands as of June 30, 2016 and December 31, 2015, respectively. These interim condensed consolidated financial statements reflect the Company’s consolidated financial position as of June 30 , 201 6 and December 31, 201 5 . These financial statements also show the Company’s consolidated statements of income and comprehensive income for the six and three-month periods ended June , 201 6 and 201 5; and statement of cash flows for the six-month period ended June, 2016 and 2015 . These interim condensed consolidated financial statements include all normal recurring adjustments that management believes are necessary to fairly state the Company’s financial position, operating results and cash flows. Because all of the disclosures required by U.S. GAAP for annual consolidated financial statements are not included herein, these unaudited interim condensed financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto for the year ended December 31, 201 5 , contained in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”). The condensed consolidated statements of income, of comprehensive income and of cash flows for the periods presented herein are not necessarily indicative of results expected for any future period. For more detailed discussion about the Company’s significant accounting policies, see note 2 to the Form 10-K. During the six-month period ended June 30, 2016, there were no material updates made to the Company’s significant accounting policies. Foreign currency translation All of the Company’s foreign operations have determined the local currency to be their functional currency, except for Venezuela since January 1, 2010, as described below. Accordingly, these foreign operating subsidiaries translate assets and liabilities from their local currencies into U.S. dollars by using year-end exchange rates while income and expense accounts are translated at the average rates in effect during the year, unless exchange rates fluctuate significantly during the period, in which case the exchange rates at the date of the transaction are used. The resulting translat ion adjustment is recorded as a component of other comprehensive (loss) income. Venezuelan currency status Pursuant to U.S. GAAP, the Company has transitioned its Venezuelan operations to highly inflationary status as from January 1, 2010, which requires that transactions and balances are re-measured as if the U.S. dollar was the functional currency for such operation. The cumulative three year inflation rate as of December 31, 2010 exceeded 100% . The Company continues to treat the economy of Venezuela as highly-inflationary. Therefore, no translation effect was accounted for in other comprehensive income related to the Venezuelan operations. O n February 10, 2015, the Venezuelan government issued a decree that unified the two previous foreign exchange systems “SICAD 1 and SICAD 2” into a new single system ( SICAD ) , with an initial public foreign exchange rate of 12 BsF per U.S. dollar. The SICAD auction process remains available only to obtain foreign currency to pay for a limited list of goods considered to be of high priority by the Venezuelan government, which does not include those relating to the Company’s business. In the same decree the Venezuelan government created the “Sistema Marginal de Divisas” (“SIMADI”), a new foreign exchange system that is separate from SICAD, which publishes a foreign exchange rate from the Central Bank of Venezuela (“ BCV ”) on a daily basis. In light of the disappearance of SICAD 2, and the Company’s inability to gain access to U.S. dollars under SICAD, it started requesting and was granted U.S. dollars through SIMADI. As a result, the Company from that moment expected to settle its transactions through SIMADI going forward and concluded that the SIMADI exchange rate should be used to re-measure its bolivar-denominated monetary assets and liabilities and to re-measure the revenues and expenses of the Venezuelan subsidiaries effective as of March 31, 2015. In connection with this re-measurement, the Company recorded a foreign exchange loss of $20.4 million during the first quarter of 2015. Considering this change in facts and circumstances and the lower U.S. dollar-equivalent cash flows then expected from the Venezuelan business, the Company reviewed its long-lived assets, goodwill and intangible assets with indefinite useful life for impairment and concluded that the carrying value of certain real estate investments in Venezuela as of March 31, 2015 would not be fully recoverable. As a result, the Company recorded an impairment of long-lived assets of $ 16.2 million on March 31, 2015. The carrying amount was adjusted to its estimated fair value of approximately $9.2 million as of March 31, 2015 , by using the market approach, and considering prices for similar assets. On March 9, 2016 the BCV issued the Exchange Agreement No.35, which is effective since March 10, 2016. The agreement established a “protected” exchange rate ( “ DIPRO ” ) for certain transactions, such as but not limited to: imports of goods of the food and health sectors, as well as supplies associated with the production of said sectors; expenses relating to health treatments, sports, culture, scientific research, and other urgent matters defined by the exchange regulations. All foreign currency transactions not expressly provided in Exchange Agreement No.35 will be processed on the alternate foreign currency markets governed by the exchange regulations, at the floating supplementary market exchange rate ( “ DICOM ” ). Additionally, the agreement established that the alternate foreign currency markets referred to in Exchange Agreement No.33 of February 10, 2015 (SIMADI) will continue to operate until replaced by others. As of the date of issuance of these interim condensed consolidated financial statements, the SIMADI has not been replaced and for that reason, the Company continued using SIMADI. From March 31, 2016 through June 30, 2016, the SIMADI exchange rate increased from 273 BsF per U.S. dollar to 628 BsF per U.S. dollar, a 130% increase in the exchange rate. As a consequence of the local currency devaluation , the Company recorded a foreign exchange loss of $4.9 million during the second quarter of 201 6 . Considering the significant devaluation and the lower U.S. dollar-equivalent cash flows then expected from the Venezuelan business, the Company reviewed its long-lived assets (including non-current other assets) , goodwill and intangible assets with indefinite useful life for impairment and concluded that the carrying value of certain real estate investments in Venezuela as of June 30, 2016 would not be fully recoverable. As a result, on June 30, 2016, the Company recorded an impairment of offices and commercial property under construction included within non-current other assets of $13.7 million . The carrying amount of offices and commercial property under construction was adjusted to its estimated fair value of approximately $12.5 million as of June 30, 2016, by using the market approach, and considering prices for similar assets. Until 2010 the Company was able to obtain U.S. dollars for any purpose, including dividends distribution, using alternative mechanisms other than through the Commission for the Administration of Foreign Exchange Control (CADIVI). Those U.S. dollars, obtained at a higher exchange rate than the one offered by CADIVI, and held in balance at U.S. bank accounts of our Venezuelan subsidiaries, were used for dividend distributions from our Venezuelan subsidiaries. The Venezuelan subsidiaries have not requested authorization since 2012 to acquire U.S. dollars to make dividend distributions. The Company has not distributed dividends from the Venezuelan subsidiaries since 2011. The following table sets forth the assets, liabilities and net assets of the Company’s Venezuelan subsidiaries, before intercompany eliminations of a net liability of $34.3 million and $24.6 million, as of June 30 , 201 6 and December 31, 201 5 and net revenues for the six -month periods ended June 30 , 201 6 and 201 5 :     June 30,  2016 2015  (In thousands)  Venezuelan operations  Net Revenues $ 19,566 $ 19,669   June 30, December 31,  2016 2015  (In thousands)  Assets 54,502 65,407  Liabilities (39,765) (36,266)  Net Assets $ 14,737 $ 29,141   As of June 30 , 201 6 , net assets (before intercompany eliminations) of the Venezuelan subsidiaries amounted to approximately 4.0% o f consolidated net assets, and cash and investments of the Venezuelan subsidiaries held in local currency in Venezuela amounted to approximately 1.0% of our consolidated cash and investments. The Company’s ability to obtain U.S. dollars in Venezuela is negatively affected by the exchange regulations in Venezuela that are described above and elsewhere in these interim condensed consolidated financial statements. In addition, its business and ability to obtain U.S. dollars in Venezuela would be negatively affected by additional material devaluations or the imposition of significant additional and more stringent controls on foreign currency exchange by the Venezuelan government. Despite the current difficult macroeconomic environment in Venezuela, the Company continues to actively manage, through its Venezuelan subsidiaries, its investment in Venezuela. Argentine currency status During December 2015 the Argentine peso exchange rate increased by approximately 37% against the U.S. dollar to 13.3 Argentine pesos per U.S. dollar as of December 31, 2015. Due to such increase in the Argentine peso exchange rate against the U.S. dollar, during the fourth quarter of 2015, the Company recognized a foreign exchange gain of $18.2 million (as a result of having a net asset position in U.S. dollars) and the reported Other Comprehensive Loss increased by $22.8 million (as a result of having a net asset position in Argentine pesos). As of June 30 , 2016 the Argentine Peso exchange rate against the U.S. dollar was 15.0 . In Argentina , access to the local foreign exchange market without requiring prior Central Bank approval is allowed for all of the following: real estate investments abroad, loans granted to non-Argentine residents, Argentine residents’ con tributions of direct investment s abroad, portfolio investment of Argentine individuals abroad, certain other investments abroad of Argentine residents, portfolio investments of Argentine legal entities abroad, purchase of foreign currency bills to be held in Argentina, as well as purchase of traveler checks. The total amount of foreign currency purchased for all the above mentioned items cannot exceed $5.0 million per month in the aggregate.  Brazilian currency status During 2015, the Brazilian Reais exchange rate against the U.S. dollar increased in approximately 44% , from 2.7 Brazilian Reais per U.S. dollar as of December 31, 2014 to 3.9 Brazilian Reais per U.S. dollar as of December 31, 2015. Due to the fluctuations of the Brazilian foreign currency against the U.S. dollar, we recognized a foreign exchange gain of $14.6 million during the year 2015. In addition, the reported Other Comprehensive Loss of our Brazilian segment increased by $9.0 million during the last year. As of June 30 , 2016 the Brazilian Reais exchange rate against the U.S. dollar was 3.2 .  Income and asset taxes The Company is subject to U.S. and foreign income taxes. The Company accounts for income taxes following the liability method of accounting which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. Deferred tax assets are also recognized for tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets or liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded when, based on the available evidence, it is more likely than not that all or a portion of the Company’s deferred tax assets will not be realized. The Company’s income tax expense consists of taxes currently payable, if any, plus the change during the period in the Company’s deferred tax assets and liabilities. On August 17, 2011, the Argentine government issued a new software development law and on September 9, 2013 the regulatory decree was issued, which established the new requirement to become beneficiary of the new software development law. The new decree establishes compliance requirements with annual incremental ratios related to exports of services and research and development expenses that must be achieved to remain within the tax holiday. The Argentine operation will have to achieve certain required ratios annually under the new software development law. The Industry Secretary resolution which rules, among other provisions, on the mechanism to file the information to obtain the benefits derived from the new software development law was issued in late February 2014. During May 2014, the Company presented all the required documentation in order to apply for the new software development law. On September 17, 2015, the Argentine Industry Secretary issued Resolution 1041/2015 approving the Company’s application for eligibility under the new software development law. As a result, the Company’s Argentinean subsidiary has been granted a tax holiday retroactive from September 18, 2014. A portion of the benefits obtained as beneficiaries of the new law is a relief of 60% of total income tax related to software development activities and a 70% relief in payroll taxes related to software development activities. The new software development law, which provides that beneficiaries must meet certain on-going eligibility requirements, will expire on December 31 , 2019. As a result of the Company’s eligibility under the new law, it recorded an income tax benefit of $9,195 and $4,853 thousands for the six and three -month periods ended June 30, 2016, respectively. Furthermore, the Company recorded a labor cost benefit of $2,006 and $1,049 thousands for the six and three-month periods ended June 30, 2016, respectively . Additionally, $785 and $413 thousands were accrued to pay software development law audit fees during the six and three-month periods ended June 30, 2016, respectively . During the first half of 2015, the company did not record any income tax, labor cost benefits or software development law audit fees. Aggregate per share effect of the Argentine tax holiday amounted to $0.25 and $0.13 for the six and three-month periods ended June 3 0, 201 6, respectively . In November 2015, the Financial Accounting Standards Board (“FASB”) issued the Accounting Standards Update 2015-17, Balance Sheet Classification of Deferred Taxes (ASU 2015-17). The new guidance requires that deferred income tax liabilities and assets be classified as non-current in a classified statement of financial position. The amendments in this Update are effective for fiscal years beginning after December 15, 2016, with early adoption permitted. The company elected to apply the amendments retrospectively to all periods presented as it reduce s the costs and complexity in current GAAP without affecting the quality of information provided to users of financial statements. The quantitative effect of the change on the December 31, 2015 balance sheet presented was a decrease on current deferred tax assets and current deferred tax liabilities of 12,290 thousands and 2,551 thousands, respectively. Those balances were reclassified to non-current deferred tax assets and non-current deferred tax liabilities as appropriate. Consequently, all deferred taxes were presented as Non-current in balance sheet. As of June 30, 2016 and December 31, 2015, the Company included under non-current deferred tax assets caption the foreign tax credits related to the dividend distributions received from its subsidiaries for a total amount of $12,040 thousands and $10,102 thousands, respectively. Those foreign tax credits will be used to offset the future domestic income tax payable. Accumulated other comprehensive loss The following table sets forth the Company’s accumulated other comprehensive loss as of June 3 0 , 2016 and the year ended December 31, 2015:     June 30, December 31,  2016 2015  (In thousands)  Accumulated other comprehensive loss:  Foreign currency translation $ (246,689) $ (238,607)  Unrealized losses on investments (602) (1,023)  Estimated tax gain on unrealized losses on investments 208 351  $ (247,083) $ (239,279)  The following tables summarize the changes in accumulated balances of other comprehensive loss for the six -month period ended June 3 0 , 2016:    Unrealized Foreign Estimated tax  (Losses) Gains on Currency (expense)  Investments Translation benefit Total  (In thousands)  Balances as of December 31, 2015 $ (1,023) $ (238,607) $ 351 $ (239,279)  Other comprehensive loss before reclassifications adjustments for gains (losses) on available for sale investments (602) (8,082) 208 (8,476)  Amount of (loss) gain reclassified from accumulated other comprehensive loss 1,023 — (351) 672  Net current period other comprehensive income (loss) 421 (8,082) (143) (7,804)  Ending balance $ (602) $ (246,689) $ 208 $ (247,083)       Amount of (Loss) Gain  Reclassified from  Details about Accumulated Accumulated Other  Other Comprehensive Loss Comprehensive Affected Line Item  Components Loss in the Statement of Income  (In thousands)  Unrealized losses on investments $ (1,023) Interest expense and other financial losses  Estimated tax gain on unrealized losses on investments 351 Income / asset tax gain  Total reclassifications for the year $ (672) Total, net of income taxes    Inventory Inventory, consisting of points of sale (“POS”) devices available for sale, are accounted for using the first-in first-out (“FIFO”) method, and are valued at the lower of cost or market value. Impairment of long-lived assets The Company reviews its long-lived assets (including non-current other assets) for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. As explained in section “Foreign Currency Translation” of the present Note to these interim condensed consolidated financial statements, the Company has subsequently accessed to more unfavorable exchange markets in Venezuela as from March 2015. Furthermore, from March 31, 2016 through June 30, 2016, the SIMADI exchange rate increased from 273 BsF per U.S. dollar to 628 BsF per U.S. dollar, a 130% increase in the exchange rate. Considering these changes in facts and circumstances and the lower U.S. dollar-equivalent cash flows expected from the Venezuelan business, and long-lived assets expected use, the Company concluded that certain real estate investments held in Caracas, Venezuela, should be impaired. The fair value of long-lived assets was estimated through market approach using level 3 inputs in the fair value hierarchy. These level 3 inputs included, but are not limited to, executed purchase agreements in similar assets and third party valuations. As a consequence, the Company estimated the fair value of the impaired long-lived assets, and recorded impairment losses of $13.7 million and $16.2 million on June 30, 2016 and March 31, 2015 , respectively. Use of estimates The preparation of interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used for, but not limited to accounting for allowance for doubtful accounts and chargeback provisions, recoverability of goodwill and intangible assets with indefinite useful life, useful life of long-lived assets and intangible assets, impairment of short-term and long-term investments, impairment of long-lived assets, compensation costs relating to the Company’s long term retention plan, fair value of convertible debt note, recognition of income taxes and contingencies. Actual results could differ from those estimates. Recently issued accounting pronouncements On March 8, 2016 the FASB issued the ASU 2016-04. When an entity sells a prepaid stored-value product (such as gift cards, telecommunication cards, and traveler’s checks), it recognizes a financial liability for its obligation to provide the product holder with the ability to purchase goods or services at a third-party merchant. When a prepaid stored-value product goes unused wholly or partially for an indefinite time period, the amount that remains on the product is referred to as breakage. There currently is diversity in the methodology used to recognize breakage. Subtopic 405-20 includes derecognition guidance for both financial liabilities and nonfinancial liabilities, and Topic 606, Revenue from Contracts with Customers, includes authoritative breakage guidance but excludes financial liabilities. The amendments in this Update provide a narrow scope exception to the guidance in Subtopic 405-20 to require that breakage be accounted for consistent with the breakage guidance in Topic 606. The new standard is effective for fiscal years beginning after December 15, 201 7 . The Company is assessing the effects that the adoption of this accounting pronouncement may have on the company´s financial statements. On March 14, 2016 the FASB issued the ASU 2016-06. Topic 815 requires that embedded derivatives be separated from the host contract and accounted for separately as derivatives if certain criteria are met, including the “clearly and closely related” criterion. The amendments in this Update clarify the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An entity performing the assessment under the amendments is required to assess the embedded call (put) options solely in accordance with the four-step decision sequence. The amendments apply to all entities that are issuers of or investors in debt instruments (or hybrid financial instruments that are determined to have a debt host) with embedded call (put) options. The new standard is effective for fiscal years beginning after December 15, 201 7. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the company´s financial statements. On March 17, 2016 the FASB issued the ASU 2016-08. This update releases Accounting Standards Update No. 2016-08--Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net). The amendments in this Update will clarify the implementation guidance on principal versus agent considerations. The new standard is effective for fiscal years beginning after December 15, 201 7. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the company´s financial statements. On March 30, 2016 the FASB issued the ASU 2016-09. The Board is issuing this Update as part of its initiative to reduce complexity in accounting standards. The areas for simplification in this Update involve several aspects of the accounting for employee share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some of the areas for simplification apply only to nonpublic entities. In addition, the amendments in this Update eliminate the guidance in Topic 718 that was indefinitely deferred shortly after the issuance of FASB Statement No. 123 (revised 2004), Share-Based Payment. This Accounting Standards Update is the final version of Proposed Accounting Standards Update—Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which has been deleted. The new standard is effective for fiscal years beginning after December 15, 201 6. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the company´s financial statements. On April 14, 2016 the FASB issued the ASU 2016-10. This update releases Accounting Standards Update No. 2016-10—Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing. This Update clarifies guidance related to identifying performance obligations and licensing implementation guidance contained in the new revenue recognition standard. The Update includes targeted improvements based on input the Board received from the Transition Resource Group for Revenue Recognition and other stakeholders. The Update seeks to proactively address areas in which diversity in practice potentially could arise, as well as to reduce the cost and complexity of applying certain aspects of the guidance both at implementation and on an ongoing basis . The new standard is effective for fiscal years beginning after December 15, 201 6. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the Company´s financial statements. On May 3, 2016 the FASB issued the ASU 2016-11 on Revenue Recognition (Topic 605) and Deriva tives and Hedging (Topic 815). The amendments in this Update eliminate some guidance related to revenue recognition and derivatives. The new standard is effective for fiscal years beginning after December 15, 201 6. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the C ompany´s financial statements . On May 9, 2016 the FASB issued the ASU 2016-12 “Revenue from Contracts with Customers (Topic 606)—Narrow-Scope Improvements and Practical Expedients”. The amendments in this update address narrow-scope improvements to the guidance on collectability, noncash consideration, and completed contracts at transition. Additionally, the amendments in this update provide a practical expedient for contract modifications at transition and an accounting policy election related to the presentation of sales taxes and other similar taxes collected from customers. The new standard is effective for fiscal years beginning after December 15, 201 6. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the C ompany´s financial statements . On June 16, 2016 the FASB issued the ASU 2016-13 “Financial Instruments-Credit Losses (Topic 326): Measurement of credit losses on financial instruments”. This update amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. For assets held at amortized cost basis, this update eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect it’s current estimate of all expected credit losses. For available for sale debt securities, credit losses should be measured in a manner similar to current GAAP, however this topic will require that credit losses be presented as an allowance rather than as a write-down. The new standard is effective for fiscal years beginning after December 15, 201 9. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the C ompany´s financial statements .

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 30, 2016
Net Income Per Share [Abstract]
Net Income Per Share	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 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 effects of assumed share settlement of long term retention plans for earnings per share calculations.    Net income per share of common st ock is as follows for the six and three -month periods ended June 30 , 201 6 and 201 5 :    Six Months Ended June 30, Three Months Ended June 30,  2016 2015 2016 2015  (In thousands)  Basic Diluted Basic Diluted Basic Diluted Basic Diluted  Net income per common share $ 1.04 $ 1.04 $ 0.48 $ 0.48 $ 0.36 $ 0.36 $0.44 $0.44   Numerator:  Net income $ 46,105 $ 46,105 $ 21,184 $ 21,184 $ 15,858 $ 15,858 $19,463 $19,463   Denominator:  Weighted average of common stock outstanding for Basic earnings per share 44,157,151 44,155,035 44,157,341 44,155,271  Adjusted weighted average of common stock outstanding for Diluted earnings per share 44,157,151 44,155,035 44,157,341 44,155,271    For the six and three-month periods ended June 30, 2016 and 2015 there was no impact on the calculation of diluted earnings per share as a consequence of the consideration of the Convertible Notes and the Long term retention plan referred to above calculated using the “if converted” method and the “treasury stock method” respectively (Please refer to note 9 of these interim condensed consolidated financial statements). The denominator for diluted net income per share for the six and three-month periods ended June 30 , 201 6 and 201 5 does not include any effect from the capped call issued in connection with the notes because it would be antidilutive. In the event of conversion of any or all of the Notes, the shares that would be delivered to the Company under the Note hedges are designed to partially neutralize the dilutive effect of the shares that the Company would issue under the Notes.

Business Combinations, Goodwill

Business Combinations, Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2016
Business Combinations, Goodwill and Intangible Assets [Abstract]
Business Combinations, Goodwill and Intangible Assets	4. Business combinations, goodwill and intangible assets Business combinations Acquisition of a software development company in Argentina On February 12 , 201 6 , the Company completed, through its subsidiaries Meli Participaciones S.L. and Marketplace Investment LLC, a limited liability company organized under the laws of Delaware, USA (together referred to as the “Buyers”), the acquisition of the 100% of equity interest of Monits S.A. , a software development company located and organized under the laws of the Buenos Aires City, Argentina. The objective of the acquisition was to enhance the capabilities of the Company in terms of software development. The aggregate purchase price for the acquisition of the 100% of the acquired business was $3,056 thousands, measured at its fair value, amount that included: (i) the total cash payment of $1,713 thousands at closing day ; (ii) an escrow of $128 thousands and iii) a contingent additional cash consideration up to $1,215 thousands . The Company’s unaudited interim condensed consolidated statement of income includes the results of operations of the acquired business as from February 12, 2016 . The net revenues and net income before intercompany eliminations of the acquired Company included in the Company’s interim condensed consolidated statement of income since the acquisition amounted to $1,045 thousands and $63 thousands, respectively. In addition, the Company incurred in certain direct costs of the business combination which were expensed as incurred. As of June 30 , 2016, the fair value of the contingent consideration recorded is $1,215 thousands. Contingent additional cash considerations are to be paid after the achievement of the performance targets. The following table summarizes the purchase price allocation for the acquisition :     Monits S.A. In thousands of U.S. dollars  Cash and cash equivalents $ 3  Other net tangible assets 25  Total net tangible assets acquired 28  Non solicitation agreement 196  Goodwill 2,832  Purchase Price $ 3,056  The purchase price was allocated based on the measurement of the fair value of assets acquired and liabilities assumed considering the information available as of the date of these unaudited interim condensed consolidated financial statements. The valuation of identifiable intangible assets acquired reflects management’s estimates based on the use of established valuation methods. Such assets consist of non-solicitation agreement for an amount of $196 thousands. Management of the Company estimates that the non-solicitation agreement will be amortized over a two -year period. The Company recognized goodwill for this acquisition based on management expectation that the acquired business will improve the Company’s business. Arising goodwill has been allocated proportionally to each of the segments identified by the Company’s management, considering the synergies expected from this acquisition and it is expected that the acquiree will contribute to the earnings generation process of such segments. Goodwill arising from this acquisition is not deductible for tax purposes. Acquisition of a software development company in Brazil On June 1 , 2016, through its subsidiary Ebazar.com.br Ltda., the Company acquired 100% of the issued and outstanding shares of capital stock of Axado Informação e Tecnologia S.A. (“Axado”) , a company that develops logistic software for the e-commerce industry in Brazil . The aggregate purchase price for the acquisition of the 100% of the acquired business was $5,536 thousands, measured at its fair value, amount that included: (i) the total cash payment of $4,706 thousands at closing day; and (ii) an escrow of $830 thousands . Additionally, payments of $830 thousands will be transferred to the sellers by the end of the first and second year after the acquisition, aiming to continue the employment relationship as key emp loyees. This additional payment will be expensed over the period up to fulfillment of the conditions required by the selling and purchase agreement. In addition, the Company incurred in certain direct costs of the business combination which were expensed as incurred. The Company’s consolidated statement of income includes the results of operations of the acquired business as from June 1, 2016 . The net revenues and net loss of the acquiree included in the Company’s statement of income since the acquisition amounted to $69 thousands and $71 thousands, respectively. The following table summarizes the preliminary purchase price allocation for the acquisition:    Axado Informacao e Tecnologia Ltda In thousands of U.S. dollars  Cash and cash equivalents $ 90  Other net tangible assets 77  Total net tangible assets acquired 167  Customer lists 676  Trademark 251  Software 282  Non-solicitation and Non-compete agreements 118  Goodwill 4,042  Purchase Price $ 5,536  The purchase price was allocated based on the provisional measurement of the fair value of assets acquired and liabilities assumed considering the information available as of the date of these unaudited interim condensed consolidated financial statements . The valuation of identifiable intangible assets acquired reflects management’s estimates based on the use of established valuation methods. Such assets consist of trademark, customer lists, software and non-compete and non-solicitation agreement s for a total amount of $1,327 thousands. Management of the Company estimates that customer lists and non-compete agreements will be amortized over a five - year period , while trademark and software will be amortized over a three - year period. The Company recognized goodwill for this acquisition based on management’s expectation that the acquired business will improve the Company’s business. Arising goodwill was allocated to the Brazilian segment identified by the Company’s management, considering the synergies expected from this acquisition and it is expected that the acquiree will contribute to the earnings gen eration process of such segment. Goodwill arising from this acquisition is deductible for tax purposes. Supplemental pro forma financial information required by U.S. GAAP for each acquisition, both individually and in the aggregate, was not material to the interim condensed consolidated financial statements of income of the Company and, accordingly, such information has not been presented . Goodwill and intangible assets The composition of goodwill and intangible assets is as follows:    June 30, December 31,  2016 2015  (In thousands)  Goodwill $ 96,150 $ 86,545  Intangible assets with indefinite lives  - Trademarks 13,278 13,074  Amortizable intangible assets  - Licenses and others 7,430 8,691  - Non-compete/solicitation agreement 1,851 1,615  - Customer lists 14,866 12,971  - Trademarks 1,011 —  Total intangible assets $ 38,436 $ 36,351  Accumulated amortization (9,310) (7,360)  Total intangible assets, net $ 29,126 $ 28,991      Goodwill The changes in the carrying amount of goodwill for the six -month period ended June 30, 2016 and the year ended December 31, 2015 are as follows:    Period ended June 30, 2016  Brazil Argentina Chile Mexico Venezuela Colombia Other Countries Total  (In thousands)  Balance, beginning of the period $ 18,526 $ 7,430 $ 16,438 $ 33,834 $ 5,729 $ 3,437 $ 1,151 $ 86,545  - Business acquisition 5,635 700 — 190 260 57 32 6,874  - Effect of exchange rates changes 3,973 (985) 1,153 (1,677) — 255 12 2,731  Balance, end of the period $ 28,134 $ 7,145 $ 17,591 $ 32,347 $ 5,989 $ 3,749 $ 1,195 $ 96,150       Year ended December 31, 2015  Brazil Argentina Chile Mexico Venezuela Colombia Other Countries Total  (In thousands)  Balance, beginning of year $ 10,557 $ 11,859 $ 19,101 $ 15,719 $ 5,729 $ 4,521 $ 1,343 $ 68,829  - Business acquisitions 14,066 — — 22,978 — — — 37,044  - Effect of exchange rates changes (6,097) (4,429) (2,663) (4,863) — (1,084) (192) (19,328)  Balance, end of the year $ 18,526 $ 7,430 $ 16,438 $ 33,834 $ 5,729 $ 3,437 $ 1,151 $ 86,545    Intangible assets with definite useful life Intangible assets with definite useful life are comprised of customer lists and user base, non-compete and non- solicitation agreements, acquired software licenses and other acquired intangible assets including developed technologies. Aggregate amortization expense for intangible assets totaled $905 thousands and $853 thousands for the three-month periods ended June 30, 2016 and 2015, respectively, while for the six-month periods ended at such dates amounted to $1,719 thousands and $1,364 thousands, respectively. The following table summarizes the remaining amortization of intangible assets (in thousands of U.S. dollars) with definite useful life as of June 30, 2016 :     For year ended 12/31/2016 $ 2,259  For year ended 12/31/2017 3,884  For year ended 12/31/2018 3,119  For year ended 12/31/2019 2,341  Thereafter 4,245  $ 15,848 

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 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 and resources are assigned , 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, Honduras, Nicaragua, Salvador, 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 costs of net revenues, p roduct and technology development expenses , 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:     Six Months Ended June 30, 2016  Brazil Argentina Mexico Venezuela Other Countries Total  (In thousands)  Net revenues $ 180,424 $ 115,902 $ 22,568 $ 19,566 $ 18,814 $ 357,274  Direct costs (111,761) (66,192) (18,651) (9,228) (13,339) (219,171)  Impairment of Long-lived Assets - - - (13,717) - (13,717)  Direct contribution 68,663 49,710 3,917 (3,379) 5,475 124,386   Operating expenses and indirect costs of net revenues (61,710)  Income from operations 62,676   Other income (expenses):  Interest income and other financial gains 15,300  Interest expense and other financial losses (12,315)  Foreign currency losses (240)  Net income before income / asset tax expense $ 65,421       Six Months Ended June 30, 2015  Brazil Argentina Mexico Venezuela Other Countries Total  (In thousands)  Net revenues $ 141,365 $ 104,262 $ 19,428 $ 19,669 $ 17,693 $ 302,417  Direct costs (83,676) (53,842) (12,615) (6,835) (11,083) (168,051)  Impairment of Long-lived Assets - - - (16,226) - (16,226)  Direct contribution 57,689 50,420 6,813 (3,392) 6,610 118,140   Operating expenses and indirect costs of net revenues (57,916)  Income from operations 60,224   Other income (expenses):  Interest income and other financial gains 8,991  Interest expense and other financial losses (10,151)  Foreign currency losses (9,217)  Net income before income / asset tax expense $ 49,847       Three Months Ended June 30, 2016  Brazil Argentina Mexico Venezuela Other Countries Total  (In thousands)  Net revenues $ 102,889 $ 67,701 $ 11,452 $ 7,461 $ 10,141 $ 199,644  Direct costs (61,462) (38,446) (9,200) (4,094) (7,138) (120,340)  Impairment of Long-lived Assets - - - (13,717) - (13,717)  Direct contribution 41,427 29,255 2,252 (10,350) 3,003 65,587   Operating expenses and indirect costs of net revenues (33,400)  Income from operations 32,187   Other income (expenses):  Interest income and other financial gains 8,049  Interest expense and other financial losses (6,631)  Foreign currency losses (5,387)  Net income before income / asset tax expense $28,218        Three Months Ended June 30, 2015  Brazil Argentina Mexico Venezuela Other Countries Total  (In thousands)  Net revenues $72,867 $56,830 $9,991 $5,714 $8,912 $154,314  Direct costs (43,995) (29,057) (6,646) (2,631) (5,912) (88,241)  Direct contribution 28,872 27,773 3,345 3,083 3,000 66,073   Operating expenses and indirect costs of net revenues (31,436)  Income from operations 34,637   Other income (expenses):  Interest income and other financial gains 4,683  Interest expense and other financial losses (5,201)  Foreign currency loss es (648)  Net income before income / asset tax expense $33,471  The following table summarizes the allocation of property and equipment, net based on geography:    June 30, December 31,  2016 2015  (In thousands)  US property and equipment, net $ 10,125 $ 12,756  Other countries  Argentina 22,861 22,379  Brazil 39,799 17,150  Mexico 2,697 2,475  Venezuela 21,084 21,556  Other countries 8,242 5,317  $ 94,683 $ 68,877  Total property and equipment, net $ 104,808 $ 81,633    The following table summarizes the allocation of the goodwill and intangible assets based on geography:   June 30, December 31,  2016 2015  (In thousands)  US intangible assets $ 170 $ 235  Other countries goodwill and intangible assets  Argentina 8,310 8,763  Brazil 32,344 21,338  Mexico 43,476 46,186  Venezuela 7,421 7,217  Other countries 33,555 31,797  $ 125,106 $ 115,301  Total goodwill and intangible assets $ 125,276 $ 115,536   Consolidated net revenues by similar prod ucts and services for the six and three -month periods ended June 30 , 201 6 and 201 5 were as follows:       Six-months Ended June 30, Three-months Ended June 30,   Consolidated Net Revenues 2016 2015 2016 2015  (In thousands) (In thousands)  Marketplace $ 207,375 $ 187,943 $ 113,252 $ 93,181  Non-marketplace (*) $ 149,899 $ 114,474 $ 86,392 $ 61,133  Total $ 357,274 $ 302,417 $ 199,644 $ 154,314    (*) Includes, among other things, Ad Sales, Real Estate, Motors, Financing Fees, Off-platform Payment Fees, Shipping Fees and other ancillary services. 

Fair Value Measurement of Asset

Fair Value Measurement of Assets and Liabilities	6 Months Ended
	Jun. 30, 2016
Fair Value Measurement of Assets and Liabilities [Abstract]
Fair Value Measurement of Assets and Liabilities	6. Fair value measurement of assets and liabilities The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30 , 201 6 and December 31, 201 5 :     Quoted Prices in Quoted Prices in  Balances as of active markets for Significant other Unobservable Balances as of active markets for Significant other Unobservable  June 30, identical Assets observable inputs inputs December 31, identical Assets observable inputs inputs  Description 2016 (Level 1) (Level 2) (Level 3) 2015 (Level 1) (Level 2) (Level 3)  (In thousands)  Assets  Cash and Cash Equivalents:  Money Market Funds $ 66,708 $ 66,708 $ — $ — $ 46,423 $ 46,423 $ — $ —  Corporate Debt Securities 10,484 — 10,484 — 15,785 — 15,785 —  Investments:  Sovereign Debt Securities $ 62,266 $ 59,799 $ 2,467 $ — $ 69,302 $ 64,264 $ 5,038 $ —  Corporate Debt Securities 229,028 118,724 110,304 — 232,257 51,974 180,283 —  Certificates of deposit 19,037 — 19,037 — 11,516 — 11,516 —  Total Financial Assets $ 387,523 $ 245,231 $ 142,292 $ — $ 375,283 $ 162,661 $ 212,622 $ —  Liabilities:  Contingent considerations $ 4,115 $ — $ — $ 4,115 $ 9,007 $ — $ — $ 9,007  Long-term retention plan 17,377 — 17,377 — 17,159 — 17,159 —  Total Financial Liabilities $ 21,492 $ — $ 17,377 $ 4,115 $ 26,166 $ — $ 17,159 $ 9,007       As of June 30 , 201 6 and December 31,2015 , the Company’s financial assets valued at fair value consisted of assets valued using i) Level 1 inputs: unadjusted quoted prices in active markets (Level 1 instrument valuations are obtained from observable inputs that reflect quoted prices (unadjusted) for identical assets in active markets) and ; ii) Level 2 inputs : obtained from readily-available pricing sources for comparable instruments as well as instruments with inactive markets at the measurement date. As of June 30, 2016 and December 3 As of June 30, 2016 and December 31, 2015, the Company´s liabilities were valued at fair value using level 2 inputs, except for contingent considerations, which were valued using level 3 inputs (valuations based on unobservable inputs reflecting Company own assumptions). Fair value of contingent considerations are determined based on the probability of achievement of the performance targets arising from each acquisition, as well as the Company’s historical experience with similar arrangements . For the six-month period ended June 30, 2016 the Company recognized in earnings a loss of $230 thousands and a gain of $1,010 thousands within other comprehensive income , in relation with contingent considerations. In addition, during the six-month period ended June 30, 2016, the Company assumed additional contingent considerations for an amount of $1,215 thousands and settled contingent considerations for an amount of $7,347 thousands ( $1,200 thousands are withheld in escrow). The unrealized net gains or loss on short term and long term investments are reported as a component of other comprehensive income. The Company does not anticipate any significant realized losses associated with those investments in excess of the Company’s historical cost. As of June 30 , 201 6 and December 31, 2015 , the carrying value of the Company’s financial assets and liabilities measured at amortized cost approximated their fair value mainly because of its short term maturity. These assets and liabilities included cash and cash equivalents (excluding money markets funds), accounts receivables, credit card receivables, funds payable to customers, other receivables, other assets, accounts payable , salaries and social secu rity payable, taxes payable , provisions and other liabilities. The convertible senior notes, the rest of the loans payable and other financial liabilities approximate their fair value because the interest rates are not materially different from market interest rates . The following table summarizes the fair value level for those financial assets and liabilities of the Company measured at amortized cost as of June 30 , 201 6 and December 31, 201 5 :     Balances as of Significant other Balances as of Significant other  June 30, observable inputs December 31, observable inputs  2016 (Level 2) 2015 (Level 2)  (In thousands)  Assets  Time Deposits $ 98,917 98,917 $ 76,658 76,658  Accounts receivable 40,055 40,055 28,428 28,428  Credit Cards receivable 215,437 215,437 131,946 131,946  Other assets 43,318 43,318 53,532 53,532  Total Assets $ 397,727 $ 397,727 $ 290,564 $ 290,564  Liabilities  Accounts payable and accrued expenses $ 86,068 $ 86,068 $ 62,038 $ 62,038  Funds payable to customers 277,528 277,528 203,247 203,247  Salaries and social security payable 25,648 25,648 26,181 26,181  Tax payable 16,419 16,419 10,092 10,092  Dividends payable 6,624 6,624 4,548 4,548  Loans payable and other financial liabilities 297,473 297,473 296,307 296,307  Other liabilities 12,231 12,231 8,520 8,520  Total Liabilities $ 721,991 $ 721,991 $ 610,933 $ 610,933  As of June 30 , 201 6 and December 31, 201 5 , the Company held no direct investments in auction rate securities, collateralized debt obligations or structured investment vehicles , and does not have any non-financial assets or liabilities measured at fair value . As of June 30 , 201 6 and December 31, 201 5 , the fair value of money market funds, short and long-term investments classified as available for sale securities are as follows:    June 30, 2016  Cost Gross Unrealized Gains (1) Gross Unrealized Losses (1) Estimated Fair Value   (In thousands)  Cash and cash equivalents  Money Market Funds $ 66,708 $ — $ — $ 66,708  Corporate Debt Securities 10,497 — (13) 10,484  Total Cash and cash equivalents $ 77,205 $ — $ (13) $ 77,192   Short-term investments  Sovereign Debt Securities $ 9,857 $ 10 $ — $ 9,867  Corporate Debt Securities 123,638 79 (122) 123,595  Certificates of deposit 19,030 8 (1) 19,037  Total Short-term investments $ 152,525 $ 97 $ (123) $ 152,499   Long-term investments  Sovereign Debt Securities $ 52,056 $ 343 $ — $ 52,399  Corporate Debt Securities 104,456 986 (9) 105,433  Certificates of deposit — — — —  Total Long-term investments $ 156,512 $ 1,329 $ (9) $ 157,832   Total $ 386,242 $ 1,426 $ (145) $ 387,523      December 31, 2015  Cost Gross Unrealized Gains (1) Gross Unrealized Losses (1) Estimated Fair Value   (In thousands)  Cash and cash equivalents  Money Market Funds $ 46,423 $ — $ — $ 46,423  Corporate Debt Securities 15,796 — (11) 15,785  Total Cash and cash equivalents $ 62,219 $ — $ (11) $ 62,208   Short-term investments  Sovereign Debt Securities $ 13,981 $ — $ (19) $ 13,962  Corporate Debt Securities 103,130 4 (157) 102,977  Certificates of deposit 8,516 1 (2) 8,515  Total Short-term investments $ 125,627 $ 5 $ (178) $ 125,454   Long-term investments  Sovereign Debt Securities $ 55,536 $ 53 $ (249) $ 55,340  Corporate Debt Securities 129,921 18 (659) 129,280  Certificates of deposit 3,003 — (2) 3,001  Total Long-term investments $ 188,460 $ 71 $ (910) $ 187,621   Total $ 376,306 $ 76 $ (1,099) $ 375,283     (1) Unrealized gains ( losses ) from securities are attributable to market price movements , net foreign exchange losses and foreign currency translation . Management does not believe any remaining significant unrealized losses represent other-than-temporary impairments based on the evaluation of available evidence including the credit rating of the investments, as of June 3 0 , 2016 and December 31, 2015.  The material portion of the Sovereign Debt Securities is U.S. Treasury Notes with no significant risk associated. As of June 30 , 201 6 , the estimated fair values (in thousands of U.S. dollars) of cash equivalents , short-term and long-term investments classified by its effective maturities are as follows:    One year or less 229,691  One year to two years 80,405  Two years to three years 52,999  Three years to four years 9,923  Four years to five years 14,357  More than five years 148  Total $ 387,523   

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Update of Litigation and Other Legal Matters The Company is subject to certain contingent liabilities with respect to existing or potential claims, lawsuits and other proceedings. The Company accrues liabilities when it considers probable that future costs will be incurred and such costs can be reasonably estimated. The proceeding-related reserve is based on developments to date and historical information related to actions filed against the Company. As of June 30, 2016, the Company had established reserves for proceeding-related contingencies and other estimated contingencies of $5,430 thousands to cover legal actions against the Company in which its Management has assessed the likelihood of a final adverse outcome as probable. Expected legal costs related to litigations are accrued when the legal service is actually provided. In addition, as of June 30, 2016, the Company and its subsidiaries are subject to certain legal actions considered by the Company’s management and its legal counsels to be reasonably possible for an aggregate amount up to $4,501 thousands. No loss amount has been accrued for such reasonably possible legal actions of which most significant (individually or in the aggregate) are described below. As of June 30, 2016, there were 56 lawsuits pending against our Argentine subsidiaries in the Argentine ordinary courts and 1,307 pending claims in the Argentine Consumer Protection Agencies, where a lawyer is not required to file or pursue a claim. As of June 30, 2016, there were six claims pending against our Mexican subsidiaries in the Mexican ordinary courts and 102 claims pending against our Mexican subsidiaries in the Mexican Consumer Protection Agencies, where a lawyer is not required to file or pursue a claim. As of June 30, 2016, 677 legal actions were pending in the Brazilian ordinary courts. In addition, June 30, 2016, there were 2,566 cases still pending in Brazilian consumer courts. Filing and pursuing of an action before Brazilian consumer courts do not require the assistance of a lawyer. In most of the cases filed against the Company, the plaintiffs asserted that the Company was responsible for fraud committed against them, or responsible for damages suffered when purchasing an item on the Company’s website, when using MercadoPago or when the Company invoiced them. Management believes that the Company has meritorious defenses to these claims and intends to continue defending them. Citizen Watch do Brasil On August 25, 2010, Citizen Watch do Brasil S/A, or Citizen, sued Brazilian subsidiaries in the 31th Central Civil Court State of São Paulo, Brazil. Citizen alleged that the Brazilian subsidiaries were infringing Citizen’s trademarks as a result of users selling allegedly counterfeit Citizen watches through the Brazilian page of the Brazilian subsidiaries’ website. Citizen sought an order enjoining the sale of Citizen-branded watches on the Brazilian subsidiaries’ Marketplace with a $6,000 daily non-compliance penalty. On September 23, 2010, the Brazilian subsidiaries were summoned of an injunction granted to prohibit the offer of Citizen products on its platform, but the penalty was established at $6,000 per day. On September 26, 2010, the Brazilian subsidiaries presented their defense and appealed the decision of the injunction relief to the State Court of Appeals of São Paulo on September 27, 2010. On October 22, 2010 the injunction granted to Citizen was suspended. On March 23, 2011, the Company’s appeal regarding the injunction granted to Citizen was ruled in favor of the Brazilian subsidiaries. On May 4, 2011, Citizen presented a motion to clarify the decision but it was dismissed on March 14, 2012. On May 28, 2012, the Plaintiff filed a special recourse related to the injunction relief to the State Court of Appeals, and the Brazilian subsidiaries presented their defense on August 16, 2012 which was not admitted. In September 2012, the Plaintiff filed a legal action against the Brazilian subsidiaries with same arguments alleged in the injunction request and seeking for compensatory and statutory damages and defenses were presented on March 20, 2013. On January 9, 2013, Citizen presented a motion to request the appeal to be ruled by the Brazilian Superior Court of Justice (Superior Tribunal de Justiça). On March 1, 2013, the Company presented its response to that appeal. On August 27, 2013, the Brazilian Superior Court of Justice ruled against Citizen’s appeal. The Superior Court of Justice ruled that the Brazilian subsidiaries were not responsible for alleged infringement of intellectual property rights by its users and that they should comply with the “notice and take down” procedure it already have in place. On October 4, 2013, Citizen presented a motion to clarify mentioned decision issued by the Brazilian Superior Court of Justice and such motion was denied on November 11, 2013. Citizen then filed, on November 25, 2013, an Extraordinary Appeal aiming the decision rendered by Brazilian Superior Court of Justice to be reviewed by Brazilian Federal Supreme Court. On February 21, 2014, Brazilian subsidiaries presented its response to Citizen’s Extraordinary Appeal. On March 10, 2014, Citizen’s extraordinary appeal was not accepted by the Brazilian Superior Court of Justice and, on March 26, 2014, Citizen filed an appeal against such decision, aiming at its Extraordinary Appeal to be accepted and ruled by Brazilian Federal Supreme Court. On May 5, 2014 the Company presented its response to Citizen’s appeal to The Brazilian Federal Supreme Court. On December, 19, 2014 Brazilian Federal Supreme Court overruled Citizen’s Extraordinary Appeal, ending the discussion regarding the injunction sought by Citizen which was definitely not granted. On February 19, 2015 the judge presiding the 31st Central Civil Court of the City of São Paulo, State of São Paulo, Brazil ruled the case in its merits totally in favor of the Brazilian subsidiary, stating that MercadoLivre shall not be held responsible for any of Citizen’s pleas and allegations. Citizen did not appeal the mentioned decision. On February 19, 2016 a final decision on the injunction was issued in favor of the Brazilian Subsidiary and therefore the case was closed . City of São Paulo Tax Claim In 2007 São Paulo tax authorities have asserted taxes and fines against our Brazilian subsidiary relating to the period from 2005 to 2007 in an approximate amount of $5.9 million according to the exchange rate in effect at that time. In 2007, the Company presented administrative defenses against the authorities’ claim and the tax authorities ruled against the Brazilian subsidiary. In 2009, the Company presented an appeal to the Conselho Municipal de Tributos or São Paulo Municipal Council of Taxes which reduced the fine. On February 11, 2011, the Company appealed this decision to the Câmaras Reunidas do Egrégio Conselho Municipal de Tributos or Superior Chamber of the São Paulo Municipal Council of Taxes which affirmed the reduction of the fine. As of the date of these consolidated financial statements, the total amount of the claim is approximately $4.1 million including surcharges and interest. With this decision the administrative stage is finished. On August 15, 2011, the Company made a deposit in court of R$9.5 million, which including accrued interests amounted to R$13 . 2 million or $4 . 1 million, according to the exchange rate at June 30, 2016, and filed a lawsuit in 8th Public Treasury Court of the County of São Paulo, State of São Paulo, Brazil, to contest the taxes and fines asserted by the Tax Authorities. On May 31, 2016, a lower court judge ruled in favor of the Company and the São Paulo Municipal Council presented a motion to clarify mentioned decision. As of the date of this report, the Company is still waiting for a decision. Brazilian preliminary injunction against the Brazilian tax authorities On November 6, 2014 the Company’s Brazilian subsidiaries requested a preliminary injunction against Receita Federal Do Brasil in order to avoid the income tax withholding over payments remitted by Brazilian subsidiaries to the Argentine subsidiary for the provision of IT support and assistance services; and requested the reimbursement of the amounts improperly withheld in the last five years. The injunction was granted considering that such withholding violates the provisions of the convention signed between the Federative Republic of Brazil and the Argentine Republic to prevent double taxation. In August 2015, such injunction was revoked by the first instance judge decision of merit, which was favorable to Receita Federal Do Brasil. The Company presented an appeal in September, 2015 and as of June 30, 2016, the Company is waiting fo r the second instance decision. As a result, the Company started making deposits in court for the controversial amounts. As of June 30 , 2016, the Company recorded in the balance sheet deposits in court for R$12.5 million or $3.9 million, according to the exchange rate at June 30 , 2 016 under the caption n on-current other assets. The Company’s management, based on the external legal counsel opinion, believe s that the tax position adopted is more likely than not, based on the technical merits of the tax position and the existence of favorable decisions of the Federal Regional Courts. For that reason, the Company has not recorded any expense or liability for the controversial amounts. Other third parties have from time to time claimed, and others may claim in the future, that the Company was responsible for fraud committed against them, or that the Company has infringed their intellectual property rights. The underlying laws with respect to the potential liability of online intermediaries like the Company are unclear in the jurisdictions where the Company operates. Management believes that additional lawsuits alleging that the Company has violated copyright or trademark laws will be filed against the Company in the future. Intellectual property and regulatory claims, whether meritorious or not, are time consuming and costly to resolve, require significant amounts of management time, could require expensive changes in the Company’s methods of doing business, or could require the Company to enter into costly royalty or licensing agreements. The Company may be subject to patent disputes, and be subject to patent infringement claims as the Company’s services expand in scope and complexity. In particular, the Company may face additional patent infringement claims involving various aspects of the payments businesses. From time to time, the Company is involved in other disputes or regulatory inquiries that arise in the ordinary course of business. The number and significance of these disputes and inquiries are increasing as the Company’s business expands and the Company grows larger. 

Long Term Retention Plan ("LTRP

Long Term Retention Plan ("LTRP")	6 Months Ended
	Jun. 30, 2016
Long Term Retention Plan ("LTRP") [Abstract]
Long Term Retention Plan ("LTRP")	8. Long term retention plan (“LTRP”)  On August 2, 2016, the Board of Directors, upon the recommendation of the Compensation Committee, adopted the 2016 Long-Term Retention Plan (“2016 LTRP”). In addition to the annual salary and bonus of each employee , certain employees (“Eligible Employees”) are eligible to participate in the 2016 LTRP, which provides for the grant to an eligible employee of a cash-settled fixed (a “2016 LTRP Fixed Award”) and a cash-settled variable award, (a “2016 LTRP Variable Award”, and together with any 2016 LTRP Fixed Award, the “2016 LTRP Awards”). Each eligible employee will be granted both a 2016 LTRP Fixed Award and a 2016 LTRP Variable Award, in addition to receiving their annual salary and bonus. In order to receive payment in respect of the 2016 LTRP Awards, each eligible employee must satisfy the performance conditions established by the Board of Directors for such employee. If these conditions are satisfied, the eligible employee will, subject to his or her continued employment as of each applicable payment date, receive the full amount of his or her 2016 LTRP Awards, payable as follows: · 2016 LTRP Fixed Award: The eligible employee will receive a fixed payment equal to 16.66% of his or her 2016 Fixed Award once a year for a period of six years starting in March 2017 (the “Annual Fixed Payment”); and  · 2016 LTRP Variable Award: On each date the Company pays the Annual Fixed Payment to the eligible employee, he or she will also receive a 2016 LTRP Variable Award payment equal to the product of (i) 16.66% of the applicable 2016 LTRP Variable Award and (ii) the quotient of (a) divided by (b), where (a), the numerator, equals the Applicable Year Stock Price (as defined below) and (b), the denominator, equals the 2015 Stock Price (as defined below). For purposes of the 2016 LTRP, the “2015 Stock Price” shall equal $111.02 (the average closing price of the Company´s common stock on the NASDAQ Global Market during the final 60 -trading days of 2015) and the “Applicable Year Stock Price” shall equal the average closing price of the Company´s common stock on the NASDAQ Global Market during the final 60-trading days of the year preceding the applicable payment date for so long as the Company´s common stock is listed on the NASDAQ.  The following table summarizes the 2009, 2010, 2011, 2012, 2013, 2014, 2015 and 2016 long term retention plan accrued compensation expense for the six and three-month periods ended June 30, 2016 and 2015, which are payable in cash according to the decision made by the Board of Directors on August 2, 2016:    Six Months Ended June 30, Three Months Ended June 30,  2016 2015 2016 2015  (In thousands) (In thousands)  LTRP 2009 283 308 250 320  LTRP 2010 464 511 401 392  LTRP 2011 590 587 495 445  LTRP 2012 726 707 596 522  LTRP 2013 1,665 2,038 1,252 1,196  LTRP 2014 1,615 2,126 1,111 1,067  LTRP 2015 2,147 - 1,254 -  LTRP 2016 2,636 - 2,636 -          

2.25% Convertible Senior Notes

2.25% Convertible Senior Notes Due 2019	6 Months Ended
	Jun. 30, 2016
2.25% Convertible Senior Notes Due 2019 [Abstract]
2.25% Convertible Senior Notes Due 2019	9. 2.25% Convertible Senior Notes Due 2019 The following table presents the carrying amounts of the liability and equity components related to the 2.25% Convertible Senior Notes Due 2019 as of June 30, 2016 :    June 30, 2016 December 31, 2015  (In thousands)  Amount of the equity component (1) $ 45,808 $ 45,808   2.25% convertible senior notes due 2019 $ 330,000 $ 330,000  Unamortized debt discount (2) (29,718) (34,214)  Unamortized transaction costs related to the debt component (4,655) (5,309)  Contractual coupon interest accrual 3,713 7,425  Contractual coupon interest payment (3,713) (7,425)  Net carrying amount $ 295,627 $ 290,477    (1) Net of $1,177 thousands of transaction costs related to the equity component of the Notes. (2) As of June 3 0 , 201 6 , the remaining period over which the unamortized debt discount will be amortized is 3.0 years. The following table presents the interest expense for the contractual interest, the accretion of debt discount and the amortization of debt issuance costs:    Six-month period ended June 30, 2016 Three-month period ended June 30, 2016   (In thousands) (In thousands)  Contractual coupon interest expense $ 3,713 $ 1,857  Amortization of debt discount 4,496 2,248  Amortization of debt issuance costs 654 327  Total interest expense related to Notes $ 8,863 $ 4,432  

Cash Dividend Distribution

Cash Dividend Distribution	6 Months Ended
	Jun. 30, 2016
Cash Dividend Distribution [Abstract]
Cash Dividend Distribution	   10. Cash Dividend Distribution In each of February, April, July and November of 2015, our Board of Directors declared quarterly cash dividends of $4,548 thousands (or $0.103 per share on our outstanding shares of common stock). The dividends were paid on April 16 , July 16 , October 16, 2015 and January 15, 2016 to stockholders of record as of the close of business on March 31 , June 30 , September 30 , and December 31, 2015 . On February 19, 2016, the board of directors approved a quarterly cash dividend of $6,624 thousands (or $0.150 per share) on our outstanding shares of common stock. The first quarterly dividend was paid on April 15, 2016 to stockholders of record as of the close of business on March 31, 2016 . On May 4, 2016, the board of directors approved a quarterly cash dividend of $6,624 thousands (or $0.150 per share) on our outstanding shares of common stock. The second quarterly dividend was paid on July 15, 2016 to stockholders of record as of the close of business on June 30, 2016 . On August 2, 2016, the board of directors approved a quarterly cash dividend of $6,624 thousands (or $0.150 per share) on our outstanding shares of common stock. This quarterly dividend is payable on October 14 , 2016 to stockholders of record as of the close of business on September 30, 2016 . 

New Law of "Costs, Earnings, an

New Law of "Costs, Earnings, and Fair Profits"	6 Months Ended
	Jun. 30, 2016
New Law of "Costs, Earnings, and Fair Profits" [Abstract]
New Law of "Costs, Earnings, and Fair Profits"	11. New Law of “Costs, Earnings, and Fair Profits” In November 2013 the Venezuelan Congress approved an “enabling law” granting the president of Venezuela the authority to enact laws and regulations in certain policy areas by decree. This authority includes the ability to restrict profit margins and impose greater controls on foreign exchange and the production, import, and distribution of certain goods. Among other actions, the president has used this decree power to pass the Law of Costs, Earnings, and Fair Profits, which became effective in January 2014 and, among other provisions, authorizes the Venezuelan government to set “fair prices” and maximum profit margins in the private sector. On October 26, 2015, the decree number 2,074 was published in the Official Gazette of Venezuela, establishing certain definitions related to the determination of prices in that country. Despite the Company does not expect that this law together with the decree issued by the Venezuelan Government will have a material adverse impact on the Company´s financial condition or results of operations, considering the current difficult macroeconomic environment in Venezuela, the final potential effects remains uncertain. The effects of such potential effects, if any, would be recognized in the financial statements once the mentioned uncertainty is resolved.  

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation The accompanying unaudited interim condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) and include the accounts of the Company and its wholly-owned subsidiaries. These interim condensed consolidated financial statements are stated in U.S. dollars , except for amounts otherwise indicated . Intercompany transactions and balances with subsidiaries have been eliminated for consolidation purposes. Substantially all net revenues, cost of net revenues and operating expenses, are generated in the Company’s foreign operations, amounting to approximately 99.9% and 99.9% of the consolidated amounts during the six-month periods ended June 30, 2016 and 2015. Long-lived assets, intangible assets and goodwill located in the foreign operations totaled $219,789 thousands and $184,178 thousands as of June 30, 2016 and December 31, 2015, respectively. These interim condensed consolidated financial statements reflect the Company’s consolidated financial position as of June 30 , 201 6 and December 31, 201 5 . These financial statements also show the Company’s consolidated statements of income and comprehensive income for the six and three-month periods ended June , 201 6 and 201 5; and statement of cash flows for the six-month period ended June, 2016 and 2015 . These interim condensed consolidated financial statements include all normal recurring adjustments that management believes are necessary to fairly state the Company’s financial position, operating results and cash flows. Because all of the disclosures required by U.S. GAAP for annual consolidated financial statements are not included herein, these unaudited interim condensed financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto for the year ended December 31, 201 5 , contained in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”). The condensed consolidated statements of income, of comprehensive income and of cash flows for the periods presented herein are not necessarily indicative of results expected for any future period. For more detailed discussion about the Company’s significant accounting policies, see note 2 to the Form 10-K. During the six-month period ended June 30, 2016, there were no material updates made to the Company’s significant accounting policies.
Foreign Currency Translation	Foreign currency translation All of the Company’s foreign operations have determined the local currency to be their functional currency, except for Venezuela since January 1, 2010, as described below. Accordingly, these foreign operating subsidiaries translate assets and liabilities from their local currencies into U.S. dollars by using year-end exchange rates while income and expense accounts are translated at the average rates in effect during the year, unless exchange rates fluctuate significantly during the period, in which case the exchange rates at the date of the transaction are used. The resulting translat ion adjustment is recorded as a component of other comprehensive (loss) income. Venezuelan currency status Pursuant to U.S. GAAP, the Company has transitioned its Venezuelan operations to highly inflationary status as from January 1, 2010, which requires that transactions and balances are re-measured as if the U.S. dollar was the functional currency for such operation. The cumulative three year inflation rate as of December 31, 2010 exceeded 100% . The Company continues to treat the economy of Venezuela as highly-inflationary. Therefore, no translation effect was accounted for in other comprehensive income related to the Venezuelan operations. O n February 10, 2015, the Venezuelan government issued a decree that unified the two previous foreign exchange systems “SICAD 1 and SICAD 2” into a new single system ( SICAD ) , with an initial public foreign exchange rate of 12 BsF per U.S. dollar. The SICAD auction process remains available only to obtain foreign currency to pay for a limited list of goods considered to be of high priority by the Venezuelan government, which does not include those relating to the Company’s business. In the same decree the Venezuelan government created the “Sistema Marginal de Divisas” (“SIMADI”), a new foreign exchange system that is separate from SICAD, which publishes a foreign exchange rate from the Central Bank of Venezuela (“ BCV ”) on a daily basis. In light of the disappearance of SICAD 2, and the Company’s inability to gain access to U.S. dollars under SICAD, it started requesting and was granted U.S. dollars through SIMADI. As a result, the Company from that moment expected to settle its transactions through SIMADI going forward and concluded that the SIMADI exchange rate should be used to re-measure its bolivar-denominated monetary assets and liabilities and to re-measure the revenues and expenses of the Venezuelan subsidiaries effective as of March 31, 2015. In connection with this re-measurement, the Company recorded a foreign exchange loss of $20.4 million during the first quarter of 2015. Considering this change in facts and circumstances and the lower U.S. dollar-equivalent cash flows then expected from the Venezuelan business, the Company reviewed its long-lived assets, goodwill and intangible assets with indefinite useful life for impairment and concluded that the carrying value of certain real estate investments in Venezuela as of March 31, 2015 would not be fully recoverable. As a result, the Company recorded an impairment of long-lived assets of $ 16.2 million on March 31, 2015. The carrying amount was adjusted to its estimated fair value of approximately $9.2 million as of March 31, 2015 , by using the market approach, and considering prices for similar assets. On March 9, 2016 the BCV issued the Exchange Agreement No.35, which is effective since March 10, 2016. The agreement established a “protected” exchange rate ( “ DIPRO ” ) for certain transactions, such as but not limited to: imports of goods of the food and health sectors, as well as supplies associated with the production of said sectors; expenses relating to health treatments, sports, culture, scientific research, and other urgent matters defined by the exchange regulations. All foreign currency transactions not expressly provided in Exchange Agreement No.35 will be processed on the alternate foreign currency markets governed by the exchange regulations, at the floating supplementary market exchange rate ( “ DICOM ” ). Additionally, the agreement established that the alternate foreign currency markets referred to in Exchange Agreement No.33 of February 10, 2015 (SIMADI) will continue to operate until replaced by others. As of the date of issuance of these interim condensed consolidated financial statements, the SIMADI has not been replaced and for that reason, the Company continued using SIMADI. From March 31, 2016 through June 30, 2016, the SIMADI exchange rate increased from 273 BsF per U.S. dollar to 628 BsF per U.S. dollar, a 130% increase in the exchange rate. As a consequence of the local currency devaluation , the Company recorded a foreign exchange loss of $4.9 million during the second quarter of 201 6 . Considering the significant devaluation and the lower U.S. dollar-equivalent cash flows then expected from the Venezuelan business, the Company reviewed its long-lived assets (including non-current other assets) , goodwill and intangible assets with indefinite useful life for impairment and concluded that the carrying value of certain real estate investments in Venezuela as of June 30, 2016 would not be fully recoverable. As a result, on June 30, 2016, the Company recorded an impairment of offices and commercial property under construction included within non-current other assets of $13.7 million . The carrying amount of offices and commercial property under construction was adjusted to its estimated fair value of approximately $12.5 million as of June 30, 2016, by using the market approach, and considering prices for similar assets. Until 2010 the Company was able to obtain U.S. dollars for any purpose, including dividends distribution, using alternative mechanisms other than through the Commission for the Administration of Foreign Exchange Control (CADIVI). Those U.S. dollars, obtained at a higher exchange rate than the one offered by CADIVI, and held in balance at U.S. bank accounts of our Venezuelan subsidiaries, were used for dividend distributions from our Venezuelan subsidiaries. The Venezuelan subsidiaries have not requested authorization since 2012 to acquire U.S. dollars to make dividend distributions. The Company has not distributed dividends from the Venezuelan subsidiaries since 2011. The following table sets forth the assets, liabilities and net assets of the Company’s Venezuelan subsidiaries, before intercompany eliminations of a net liability of $34.3 million and $24.6 million, as of June 30 , 201 6 and December 31, 201 5 and net revenues for the six -month periods ended June 30 , 201 6 and 201 5 :     June 30,  2016 2015  (In thousands)  Venezuelan operations  Net Revenues $ 19,566 $ 19,669   June 30, December 31,  2016 2015  (In thousands)  Assets 54,502 65,407  Liabilities (39,765) (36,266)  Net Assets $ 14,737 $ 29,141   As of June 30 , 201 6 , net assets (before intercompany eliminations) of the Venezuelan subsidiaries amounted to approximately 4.0% o f consolidated net assets, and cash and investments of the Venezuelan subsidiaries held in local currency in Venezuela amounted to approximately 1.0% of our consolidated cash and investments. The Company’s ability to obtain U.S. dollars in Venezuela is negatively affected by the exchange regulations in Venezuela that are described above and elsewhere in these interim condensed consolidated financial statements. In addition, its business and ability to obtain U.S. dollars in Venezuela would be negatively affected by additional material devaluations or the imposition of significant additional and more stringent controls on foreign currency exchange by the Venezuelan government. Despite the current difficult macroeconomic environment in Venezuela, the Company continues to actively manage, through its Venezuelan subsidiaries, its investment in Venezuela. Argentine currency status During December 2015 the Argentine peso exchange rate increased by approximately 37% against the U.S. dollar to 13.3 Argentine pesos per U.S. dollar as of December 31, 2015. Due to such increase in the Argentine peso exchange rate against the U.S. dollar, during the fourth quarter of 2015, the Company recognized a foreign exchange gain of $18.2 million (as a result of having a net asset position in U.S. dollars) and the reported Other Comprehensive Loss increased by $22.8 million (as a result of having a net asset position in Argentine pesos). As of June 30 , 2016 the Argentine Peso exchange rate against the U.S. dollar was 15.0 . In Argentina , access to the local foreign exchange market without requiring prior Central Bank approval is allowed for all of the following: real estate investments abroad, loans granted to non-Argentine residents, Argentine residents’ con tributions of direct investment s abroad, portfolio investment of Argentine individuals abroad, certain other investments abroad of Argentine residents, portfolio investments of Argentine legal entities abroad, purchase of foreign currency bills to be held in Argentina, as well as purchase of traveler checks. The total amount of foreign currency purchased for all the above mentioned items cannot exceed $5.0 million per month in the aggregate.  Brazilian currency status During 2015, the Brazilian Reais exchange rate against the U.S. dollar increased in approximately 44% , from 2.7 Brazilian Reais per U.S. dollar as of December 31, 2014 to 3.9 Brazilian Reais per U.S. dollar as of December 31, 2015. Due to the fluctuations of the Brazilian foreign currency against the U.S. dollar, we recognized a foreign exchange gain of $14.6 million during the year 2015. In addition, the reported Other Comprehensive Loss of our Brazilian segment increased by $9.0 million during the last year. As of June 30 , 2016 the Brazilian Reais exchange rate against the U.S. dollar was 3.2 . 
Income and Asset Taxes	Income and asset taxes The Company is subject to U.S. and foreign income taxes. The Company accounts for income taxes following the liability method of accounting which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. Deferred tax assets are also recognized for tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets or liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded when, based on the available evidence, it is more likely than not that all or a portion of the Company’s deferred tax assets will not be realized. The Company’s income tax expense consists of taxes currently payable, if any, plus the change during the period in the Company’s deferred tax assets and liabilities. On August 17, 2011, the Argentine government issued a new software development law and on September 9, 2013 the regulatory decree was issued, which established the new requirement to become beneficiary of the new software development law. The new decree establishes compliance requirements with annual incremental ratios related to exports of services and research and development expenses that must be achieved to remain within the tax holiday. The Argentine operation will have to achieve certain required ratios annually under the new software development law. The Industry Secretary resolution which rules, among other provisions, on the mechanism to file the information to obtain the benefits derived from the new software development law was issued in late February 2014. During May 2014, the Company presented all the required documentation in order to apply for the new software development law. On September 17, 2015, the Argentine Industry Secretary issued Resolution 1041/2015 approving the Company’s application for eligibility under the new software development law. As a result, the Company’s Argentinean subsidiary has been granted a tax holiday retroactive from September 18, 2014. A portion of the benefits obtained as beneficiaries of the new law is a relief of 60% of total income tax related to software development activities and a 70% relief in payroll taxes related to software development activities. The new software development law, which provides that beneficiaries must meet certain on-going eligibility requirements, will expire on December 31 , 2019. As a result of the Company’s eligibility under the new law, it recorded an income tax benefit of $9,195 and $4,853 thousands for the six and three -month periods ended June 30, 2016, respectively. Furthermore, the Company recorded a labor cost benefit of $2,006 and $1,049 thousands for the six and three-month periods ended June 30, 2016, respectively . Additionally, $785 and $413 thousands were accrued to pay software development law audit fees during the six and three-month periods ended June 30, 2016, respectively . During the first half of 2015, the company did not record any income tax, labor cost benefits or software development law audit fees. Aggregate per share effect of the Argentine tax holiday amounted to $0.25 and $0.13 for the six and three-month periods ended June 3 0, 201 6, respectively . In November 2015, the Financial Accounting Standards Board (“FASB”) issued the Accounting Standards Update 2015-17, Balance Sheet Classification of Deferred Taxes (ASU 2015-17). The new guidance requires that deferred income tax liabilities and assets be classified as non-current in a classified statement of financial position. The amendments in this Update are effective for fiscal years beginning after December 15, 2016, with early adoption permitted. The company elected to apply the amendments retrospectively to all periods presented as it reduce s the costs and complexity in current GAAP without affecting the quality of information provided to users of financial statements. The quantitative effect of the change on the December 31, 2015 balance sheet presented was a decrease on current deferred tax assets and current deferred tax liabilities of 12,290 thousands and 2,551 thousands, respectively. Those balances were reclassified to non-current deferred tax assets and non-current deferred tax liabilities as appropriate. Consequently, all deferred taxes were presented as Non-current in balance sheet. As of June 30, 2016 and December 31, 2015, the Company included under non-current deferred tax assets caption the foreign tax credits related to the dividend distributions received from its subsidiaries for a total amount of $12,040 thousands and $10,102 thousands, respectively. Those foreign tax credits will be used to offset the future domestic income tax payable.
Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss The following table sets forth the Company’s accumulated other comprehensive loss as of June 3 0 , 2016 and the year ended December 31, 2015:     June 30, December 31,  2016 2015  (In thousands)  Accumulated other comprehensive loss:  Foreign currency translation $ (246,689) $ (238,607)  Unrealized losses on investments (602) (1,023)  Estimated tax gain on unrealized losses on investments 208 351  $ (247,083) $ (239,279)  The following tables summarize the changes in accumulated balances of other comprehensive loss for the six -month period ended June 3 0 , 2016:    Unrealized Foreign Estimated tax  (Losses) Gains on Currency (expense)  Investments Translation benefit Total  (In thousands)  Balances as of December 31, 2015 $ (1,023) $ (238,607) $ 351 $ (239,279)  Other comprehensive loss before reclassifications adjustments for gains (losses) on available for sale investments (602) (8,082) 208 (8,476)  Amount of (loss) gain reclassified from accumulated other comprehensive loss 1,023 — (351) 672  Net current period other comprehensive income (loss) 421 (8,082) (143) (7,804)  Ending balance $ (602) $ (246,689) $ 208 $ (247,083)       Amount of (Loss) Gain  Reclassified from  Details about Accumulated Accumulated Other  Other Comprehensive Loss Comprehensive Affected Line Item  Components Loss in the Statement of Income  (In thousands)  Unrealized losses on investments $ (1,023) Interest expense and other financial losses  Estimated tax gain on unrealized losses on investments 351 Income / asset tax gain  Total reclassifications for the year $ (672) Total, net of income taxes   
Inventory	Inventory Inventory, consisting of points of sale (“POS”) devices available for sale, are accounted for using the first-in first-out (“FIFO”) method, and are valued at the lower of cost or market value.
Impairment of Long-lived Assets	Impairment of long-lived assets The Company reviews its long-lived assets (including non-current other assets) for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. As explained in section “Foreign Currency Translation” of the present Note to these interim condensed consolidated financial statements, the Company has subsequently accessed to more unfavorable exchange markets in Venezuela as from March 2015. Furthermore, from March 31, 2016 through June 30, 2016, the SIMADI exchange rate increased from 273 BsF per U.S. dollar to 628 BsF per U.S. dollar, a 130% increase in the exchange rate. Considering these changes in facts and circumstances and the lower U.S. dollar-equivalent cash flows expected from the Venezuelan business, and long-lived assets expected use, the Company concluded that certain real estate investments held in Caracas, Venezuela, should be impaired. The fair value of long-lived assets was estimated through market approach using level 3 inputs in the fair value hierarchy. These level 3 inputs included, but are not limited to, executed purchase agreements in similar assets and third party valuations. As a consequence, the Company estimated the fair value of the impaired long-lived assets, and recorded impairment losses of $13.7 million and $16.2 million on June 30, 2016 and March 31, 2015 , respectively.
Use of Estimates	Use of estimates The preparation of interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used for, but not limited to accounting for allowance for doubtful accounts and chargeback provisions, recoverability of goodwill and intangible assets with indefinite useful life, useful life of long-lived assets and intangible assets, impairment of short-term and long-term investments, impairment of long-lived assets, compensation costs relating to the Company’s long term retention plan, fair value of convertible debt note, recognition of income taxes and contingencies. Actual results could differ from those estimates.
Recently Issued Accounting Pronouncements	Recently issued accounting pronouncements On March 8, 2016 the FASB issued the ASU 2016-04. When an entity sells a prepaid stored-value product (such as gift cards, telecommunication cards, and traveler’s checks), it recognizes a financial liability for its obligation to provide the product holder with the ability to purchase goods or services at a third-party merchant. When a prepaid stored-value product goes unused wholly or partially for an indefinite time period, the amount that remains on the product is referred to as breakage. There currently is diversity in the methodology used to recognize breakage. Subtopic 405-20 includes derecognition guidance for both financial liabilities and nonfinancial liabilities, and Topic 606, Revenue from Contracts with Customers, includes authoritative breakage guidance but excludes financial liabilities. The amendments in this Update provide a narrow scope exception to the guidance in Subtopic 405-20 to require that breakage be accounted for consistent with the breakage guidance in Topic 606. The new standard is effective for fiscal years beginning after December 15, 201 7 . The Company is assessing the effects that the adoption of this accounting pronouncement may have on the company´s financial statements. On March 14, 2016 the FASB issued the ASU 2016-06. Topic 815 requires that embedded derivatives be separated from the host contract and accounted for separately as derivatives if certain criteria are met, including the “clearly and closely related” criterion. The amendments in this Update clarify the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An entity performing the assessment under the amendments is required to assess the embedded call (put) options solely in accordance with the four-step decision sequence. The amendments apply to all entities that are issuers of or investors in debt instruments (or hybrid financial instruments that are determined to have a debt host) with embedded call (put) options. The new standard is effective for fiscal years beginning after December 15, 201 7. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the company´s financial statements. On March 17, 2016 the FASB issued the ASU 2016-08. This update releases Accounting Standards Update No. 2016-08--Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net). The amendments in this Update will clarify the implementation guidance on principal versus agent considerations. The new standard is effective for fiscal years beginning after December 15, 201 7. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the company´s financial statements. On March 30, 2016 the FASB issued the ASU 2016-09. The Board is issuing this Update as part of its initiative to reduce complexity in accounting standards. The areas for simplification in this Update involve several aspects of the accounting for employee share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some of the areas for simplification apply only to nonpublic entities. In addition, the amendments in this Update eliminate the guidance in Topic 718 that was indefinitely deferred shortly after the issuance of FASB Statement No. 123 (revised 2004), Share-Based Payment. This Accounting Standards Update is the final version of Proposed Accounting Standards Update—Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which has been deleted. The new standard is effective for fiscal years beginning after December 15, 201 6. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the company´s financial statements. On April 14, 2016 the FASB issued the ASU 2016-10. This update releases Accounting Standards Update No. 2016-10—Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing. This Update clarifies guidance related to identifying performance obligations and licensing implementation guidance contained in the new revenue recognition standard. The Update includes targeted improvements based on input the Board received from the Transition Resource Group for Revenue Recognition and other stakeholders. The Update seeks to proactively address areas in which diversity in practice potentially could arise, as well as to reduce the cost and complexity of applying certain aspects of the guidance both at implementation and on an ongoing basis . The new standard is effective for fiscal years beginning after December 15, 201 6. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the Company´s financial statements. On May 3, 2016 the FASB issued the ASU 2016-11 on Revenue Recognition (Topic 605) and Deriva tives and Hedging (Topic 815). The amendments in this Update eliminate some guidance related to revenue recognition and derivatives. The new standard is effective for fiscal years beginning after December 15, 201 6. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the C ompany´s financial statements . On May 9, 2016 the FASB issued the ASU 2016-12 “Revenue from Contracts with Customers (Topic 606)—Narrow-Scope Improvements and Practical Expedients”. The amendments in this update address narrow-scope improvements to the guidance on collectability, noncash consideration, and completed contracts at transition. Additionally, the amendments in this update provide a practical expedient for contract modifications at transition and an accounting policy election related to the presentation of sales taxes and other similar taxes collected from customers. The new standard is effective for fiscal years beginning after December 15, 201 6. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the C ompany´s financial statements . On June 16, 2016 the FASB issued the ASU 2016-13 “Financial Instruments-Credit Losses (Topic 326): Measurement of credit losses on financial instruments”. This update amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale debt securities. For assets held at amortized cost basis, this update eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect it’s current estimate of all expected credit losses. For available for sale debt securities, credit losses should be measured in a manner similar to current GAAP, however this topic will require that credit losses be presented as an allowance rather than as a write-down. The new standard is effective for fiscal years beginning after December 15, 201 9. The Company is assessing the effects that the adoption of this accounting pronouncement may have on the C ompany´s financial statements .

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2016
Summary of Significant Accounting Policies [Abstract]
Assets, Liabilities and Net Assets of Company's Venezuelan Subsidiaries	     June 30,  2016 2015  (In thousands)  Venezuelan operations  Net Revenues $ 19,566 $ 19,669   June 30, December 31,  2016 2015  (In thousands)  Assets 54,502 65,407  Liabilities (39,765) (36,266)  Net Assets $ 14,737 $ 29,141 
Accumulated Other Comprehensive Income	  June 30, December 31,  2016 2015  (In thousands)  Accumulated other comprehensive loss:  Foreign currency translation $ (246,689) $ (238,607)  Unrealized losses on investments (602) (1,023)  Estimated tax gain on unrealized losses on investments 208 351  $ (247,083) $ (239,279) 
Summary of Changes in Accumulated Balances of Other Comprehensive Income	    Unrealized Foreign Estimated tax  (Losses) Gains on Currency (expense)  Investments Translation benefit Total  (In thousands)  Balances as of December 31, 2015 $ (1,023) $ (238,607) $ 351 $ (239,279)  Other comprehensive loss before reclassifications adjustments for gains (losses) on available for sale investments (602) (8,082) 208 (8,476)  Amount of (loss) gain reclassified from accumulated other comprehensive loss 1,023 — (351) 672  Net current period other comprehensive income (loss) 421 (8,082) (143) (7,804)  Ending balance $ (602) $ (246,689) $ 208 $ (247,083) 
Reclassifications Out of Accumulated Other Comprehensive Income	   Amount of (Loss) Gain  Reclassified from  Details about Accumulated Accumulated Other  Other Comprehensive Loss Comprehensive Affected Line Item  Components Loss in the Statement of Income  (In thousands)  Unrealized losses on investments $ (1,023) Interest expense and other financial losses  Estimated tax gain on unrealized losses on investments 351 Income / asset tax gain  Total reclassifications for the year $ (672) Total, net of income taxes 

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Net Income Per Share [Abstract]
Net Income (Loss) Per Share of Common Stock	  Six Months Ended June 30, Three Months Ended June 30,  2016 2015 2016 2015  (In thousands)  Basic Diluted Basic Diluted Basic Diluted Basic Diluted  Net income per common share $ 1.04 $ 1.04 $ 0.48 $ 0.48 $ 0.36 $ 0.36 $0.44 $0.44   Numerator:  Net income $ 46,105 $ 46,105 $ 21,184 $ 21,184 $ 15,858 $ 15,858 $19,463 $19,463   Denominator:  Weighted average of common stock outstanding for Basic earnings per share 44,157,151 44,155,035 44,157,341 44,155,271  Adjusted weighted average of common stock outstanding for Diluted earnings per share 44,157,151 44,155,035 44,157,341 44,155,271 

Business Combinations, Goodwi21

Business Combinations, Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Business Acquisition [Line Items]
Composition of Goodwill and Intangible Assets	  June 30, December 31,  2016 2015  (In thousands)  Goodwill $ 96,150 $ 86,545  Intangible assets with indefinite lives  - Trademarks 13,278 13,074  Amortizable intangible assets  - Licenses and others 7,430 8,691  - Non-compete/solicitation agreement 1,851 1,615  - Customer lists 14,866 12,971  - Trademarks 1,011 —  Total intangible assets $ 38,436 $ 36,351  Accumulated amortization (9,310) (7,360)  Total intangible assets, net $ 29,126 $ 28,991 
Table Showing Changes in Carrying Amount of Goodwill	    Period ended June 30, 2016  Brazil Argentina Chile Mexico Venezuela Colombia Other Countries Total  (In thousands)  Balance, beginning of the period $ 18,526 $ 7,430 $ 16,438 $ 33,834 $ 5,729 $ 3,437 $ 1,151 $ 86,545  - Business acquisition 5,635 700 — 190 260 57 32 6,874  - Effect of exchange rates changes 3,973 (985) 1,153 (1,677) — 255 12 2,731  Balance, end of the period $ 28,134 $ 7,145 $ 17,591 $ 32,347 $ 5,989 $ 3,749 $ 1,195 $ 96,150       Year ended December 31, 2015  Brazil Argentina Chile Mexico Venezuela Colombia Other Countries Total  (In thousands)  Balance, beginning of year $ 10,557 $ 11,859 $ 19,101 $ 15,719 $ 5,729 $ 4,521 $ 1,343 $ 68,829  - Business acquisitions 14,066 — — 22,978 — — — 37,044  - Effect of exchange rates changes (6,097) (4,429) (2,663) (4,863) — (1,084) (192) (19,328)  Balance, end of the year $ 18,526 $ 7,430 $ 16,438 $ 33,834 $ 5,729 $ 3,437 $ 1,151 $ 86,545 
Expected Intangible Asset Amortization Expense	  For year ended 12/31/2016 $ 2,259  For year ended 12/31/2017 3,884  For year ended 12/31/2018 3,119  For year ended 12/31/2019 2,341  Thereafter 4,245  $ 15,848 
Monits S.A. [Member]
Business Acquisition [Line Items]
Summary of Preliminary Purchase Price Allocation for Acquisition	  Monits S.A. In thousands of U.S. dollars  Cash and cash equivalents $ 3  Other net tangible assets 25  Total net tangible assets acquired 28  Non solicitation agreement 196  Goodwill 2,832  Purchase Price $ 3,056 
Axado Informação e Tecnologia S.A. [Member]
Business Acquisition [Line Items]
Summary of Preliminary Purchase Price Allocation for Acquisition	  Axado Informacao e Tecnologia Ltda In thousands of U.S. dollars  Cash and cash equivalents $ 90  Other net tangible assets 77  Total net tangible assets acquired 167  Customer lists 676  Trademark 251  Software 282  Non-solicitation and Non-compete agreements 118  Goodwill 4,042  Purchase Price $ 5,536 

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Financial Performance of Company's Reporting Segments	    Six Months Ended June 30, 2016  Brazil Argentina Mexico Venezuela Other Countries Total  (In thousands)  Net revenues $ 180,424 $ 115,902 $ 22,568 $ 19,566 $ 18,814 $ 357,274  Direct costs (111,761) (66,192) (18,651) (9,228) (13,339) (219,171)  Impairment of Long-lived Assets - - - (13,717) - (13,717)  Direct contribution 68,663 49,710 3,917 (3,379) 5,475 124,386   Operating expenses and indirect costs of net revenues (61,710)  Income from operations 62,676   Other income (expenses):  Interest income and other financial gains 15,300  Interest expense and other financial losses (12,315)  Foreign currency losses (240)  Net income before income / asset tax expense $ 65,421       Six Months Ended June 30, 2015  Brazil Argentina Mexico Venezuela Other Countries Total  (In thousands)  Net revenues $ 141,365 $ 104,262 $ 19,428 $ 19,669 $ 17,693 $ 302,417  Direct costs (83,676) (53,842) (12,615) (6,835) (11,083) (168,051)  Impairment of Long-lived Assets - - - (16,226) - (16,226)  Direct contribution 57,689 50,420 6,813 (3,392) 6,610 118,140   Operating expenses and indirect costs of net revenues (57,916)  Income from operations 60,224   Other income (expenses):  Interest income and other financial gains 8,991  Interest expense and other financial losses (10,151)  Foreign currency losses (9,217)  Net income before income / asset tax expense $ 49,847       Three Months Ended June 30, 2016  Brazil Argentina Mexico Venezuela Other Countries Total  (In thousands)  Net revenues $ 102,889 $ 67,701 $ 11,452 $ 7,461 $ 10,141 $ 199,644  Direct costs (61,462) (38,446) (9,200) (4,094) (7,138) (120,340)  Impairment of Long-lived Assets - - - (13,717) - (13,717)  Direct contribution 41,427 29,255 2,252 (10,350) 3,003 65,587   Operating expenses and indirect costs of net revenues (33,400)  Income from operations 32,187   Other income (expenses):  Interest income and other financial gains 8,049  Interest expense and other financial losses (6,631)  Foreign currency losses (5,387)  Net income before income / asset tax expense $28,218        Three Months Ended June 30, 2015  Brazil Argentina Mexico Venezuela Other Countries Total  (In thousands)  Net revenues $72,867 $56,830 $9,991 $5,714 $8,912 $154,314  Direct costs (43,995) (29,057) (6,646) (2,631) (5,912) (88,241)  Direct contribution 28,872 27,773 3,345 3,083 3,000 66,073   Operating expenses and indirect costs of net revenues (31,436)  Income from operations 34,637   Other income (expenses):  Interest income and other financial gains 4,683  Interest expense and other financial losses (5,201)  Foreign currency loss es (648)  Net income before income / asset tax expense $33,471 
Allocation of Long-Lived Tangible Assets Based on Geography	   June 30, December 31,  2016 2015  (In thousands)  US property and equipment, net $ 10,125 $ 12,756  Other countries  Argentina 22,861 22,379  Brazil 39,799 17,150  Mexico 2,697 2,475  Venezuela 21,084 21,556  Other countries 8,242 5,317  $ 94,683 $ 68,877  Total property and equipment, net $ 104,808 $ 81,633  
Allocation of Goodwill and Intangible Assets Based on Geography	  June 30, December 31,  2016 2015  (In thousands)  US intangible assets $ 170 $ 235  Other countries goodwill and intangible assets  Argentina 8,310 8,763  Brazil 32,344 21,338  Mexico 43,476 46,186  Venezuela 7,421 7,217  Other countries 33,555 31,797  $ 125,106 $ 115,301  Total goodwill and intangible assets $ 125,276 $ 115,536 
Consolidated Net Revenues by Similar Products and Services	     Six-months Ended June 30, Three-months Ended June 30,   Consolidated Net Revenues 2016 2015 2016 2015  (In thousands) (In thousands)  Marketplace $ 207,375 $ 187,943 $ 113,252 $ 93,181  Non-marketplace (*) $ 149,899 $ 114,474 $ 86,392 $ 61,133  Total $ 357,274 $ 302,417 $ 199,644 $ 154,314    (*) Includes, among other things, Ad Sales, Real Estate, Motors, Financing Fees, Off-platform Payment Fees, Shipping Fees and other ancillary services.

Fair Value Measurement of Ass23

Fair Value Measurement of Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Measurement of Assets and Liabilities [Abstract]
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	   Quoted Prices in Quoted Prices in  Balances as of active markets for Significant other Unobservable Balances as of active markets for Significant other Unobservable  June 30, identical Assets observable inputs inputs December 31, identical Assets observable inputs inputs  Description 2016 (Level 1) (Level 2) (Level 3) 2015 (Level 1) (Level 2) (Level 3)  (In thousands)  Assets  Cash and Cash Equivalents:  Money Market Funds $ 66,708 $ 66,708 $ — $ — $ 46,423 $ 46,423 $ — $ —  Corporate Debt Securities 10,484 — 10,484 — 15,785 — 15,785 —  Investments:  Sovereign Debt Securities $ 62,266 $ 59,799 $ 2,467 $ — $ 69,302 $ 64,264 $ 5,038 $ —  Corporate Debt Securities 229,028 118,724 110,304 — 232,257 51,974 180,283 —  Certificates of deposit 19,037 — 19,037 — 11,516 — 11,516 —  Total Financial Assets $ 387,523 $ 245,231 $ 142,292 $ — $ 375,283 $ 162,661 $ 212,622 $ —  Liabilities:  Contingent considerations $ 4,115 $ — $ — $ 4,115 $ 9,007 $ — $ — $ 9,007  Long-term retention plan 17,377 — 17,377 — 17,159 — 17,159 —  Total Financial Liabilities $ 21,492 $ — $ 17,377 $ 4,115 $ 26,166 $ — $ 17,159 $ 9,007 
Fair Value of Financial Assets and Liabilities Measured at Amortized Cost	   Balances as of Significant other Balances as of Significant other  June 30, observable inputs December 31, observable inputs  2016 (Level 2) 2015 (Level 2)  (In thousands)  Assets  Time Deposits $ 98,917 98,917 $ 76,658 76,658  Accounts receivable 40,055 40,055 28,428 28,428  Credit Cards receivable 215,437 215,437 131,946 131,946  Other assets 43,318 43,318 53,532 53,532  Total Assets $ 397,727 $ 397,727 $ 290,564 $ 290,564  Liabilities  Accounts payable and accrued expenses $ 86,068 $ 86,068 $ 62,038 $ 62,038  Funds payable to customers 277,528 277,528 203,247 203,247  Salaries and social security payable 25,648 25,648 26,181 26,181  Tax payable 16,419 16,419 10,092 10,092  Dividends payable 6,624 6,624 4,548 4,548  Loans payable and other financial liabilities 297,473 297,473 296,307 296,307  Other liabilities 12,231 12,231 8,520 8,520  Total Liabilities $ 721,991 $ 721,991 $ 610,933 $ 610,933 
Fair Value of Money Market Funds, Short and Long-Term Investments Classified as Available for Sale Securities	    June 30, 2016  Cost Gross Unrealized Gains (1) Gross Unrealized Losses (1) Estimated Fair Value   (In thousands)  Cash and cash equivalents  Money Market Funds $ 66,708 $ — $ — $ 66,708  Corporate Debt Securities 10,497 — (13) 10,484  Total Cash and cash equivalents $ 77,205 $ — $ (13) $ 77,192   Short-term investments  Sovereign Debt Securities $ 9,857 $ 10 $ — $ 9,867  Corporate Debt Securities 123,638 79 (122) 123,595  Certificates of deposit 19,030 8 (1) 19,037  Total Short-term investments $ 152,525 $ 97 $ (123) $ 152,499   Long-term investments  Sovereign Debt Securities $ 52,056 $ 343 $ — $ 52,399  Corporate Debt Securities 104,456 986 (9) 105,433  Certificates of deposit — — — —  Total Long-term investments $ 156,512 $ 1,329 $ (9) $ 157,832   Total $ 386,242 $ 1,426 $ (145) $ 387,523      December 31, 2015  Cost Gross Unrealized Gains (1) Gross Unrealized Losses (1) Estimated Fair Value   (In thousands)  Cash and cash equivalents  Money Market Funds $ 46,423 $ — $ — $ 46,423  Corporate Debt Securities 15,796 — (11) 15,785  Total Cash and cash equivalents $ 62,219 $ — $ (11) $ 62,208   Short-term investments  Sovereign Debt Securities $ 13,981 $ — $ (19) $ 13,962  Corporate Debt Securities 103,130 4 (157) 102,977  Certificates of deposit 8,516 1 (2) 8,515  Total Short-term investments $ 125,627 $ 5 $ (178) $ 125,454   Long-term investments  Sovereign Debt Securities $ 55,536 $ 53 $ (249) $ 55,340  Corporate Debt Securities 129,921 18 (659) 129,280  Certificates of deposit 3,003 — (2) 3,001  Total Long-term investments $ 188,460 $ 71 $ (910) $ 187,621   Total $ 376,306 $ 76 $ (1,099) $ 375,283     (1) Unrealized gains ( losses ) from securities are attributable to market price movements , net foreign exchange losses and foreign currency translation . Management does not believe any remaining significant unrealized losses represent other-than-temporary impairments based on the evaluation of available evidence including the credit rating of the investments, as of June 3 0 , 2016 and December 31, 2015.
Estimated Fair Values of Money Market Funds, Short-Term and Long-Term Investments	  One year or less 229,691  One year to two years 80,405  Two years to three years 52,999  Three years to four years 9,923  Four years to five years 14,357  More than five years 148  Total $ 387,523 

Long Term Retention Plan ("LT24

Long Term Retention Plan ("LTRP") (Tables)	6 Months Ended
	Jun. 30, 2016
Long Term Retention Plan ("LTRP") [Abstract]
Long Term Retention Plans Accrued Compensation Expense	  Six Months Ended June 30, Three Months Ended June 30,  2016 2015 2016 2015  (In thousands) (In thousands)  LTRP 2009 283 308 250 320  LTRP 2010 464 511 401 392  LTRP 2011 590 587 495 445  LTRP 2012 726 707 596 522  LTRP 2013 1,665 2,038 1,252 1,196  LTRP 2014 1,615 2,126 1,111 1,067  LTRP 2015 2,147 - 1,254 -  LTRP 2016 2,636 - 2,636 - 

2.25% Convertible Senior Note25

2.25% Convertible Senior Notes Due 2019 (Tables)	6 Months Ended
	Jun. 30, 2016
2.25% Convertible Senior Notes Due 2019 [Abstract]
Carrying Amounts of Liability and Equity Components	   June 30, 2016 December 31, 2015  (In thousands)  Amount of the equity component (1) $ 45,808 $ 45,808   2.25% convertible senior notes due 2019 $ 330,000 $ 330,000  Unamortized debt discount (2) (29,718) (34,214)  Unamortized transaction costs related to the debt component (4,655) (5,309)  Contractual coupon interest accrual 3,713 7,425  Contractual coupon interest payment (3,713) (7,425)  Net carrying amount $ 295,627 $ 290,477    (1) Net of $1,177 thousands of transaction costs related to the equity component of the Notes. (2) As of June 3 0 , 201 6 , the remaining period over which the unamortized debt discount will be amortized is 3.0 years.
Summary of Interest Expense for Contractual Interest and Accretion of Debt Discount	  Six-month period ended June 30, 2016 Three-month period ended June 30, 2016   (In thousands) (In thousands)  Contractual coupon interest expense $ 3,713 $ 1,857  Amortization of debt discount 4,496 2,248  Amortization of debt issuance costs 654 327  Total interest expense related to Notes $ 8,863 $ 4,432 

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Narrative) (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended				6 Months Ended		12 Months Ended
	Dec. 31, 2015USD ($)ARS / $BRL / $	Jun. 30, 2016USD ($)$ / sharesARS / $VEF / $BRL / $	Dec. 31, 2015USD ($)ARS / $BRL / $	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Jun. 30, 2016USD ($)$ / sharesARS / $VEF / $BRL / $	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)ARS / $BRL / $	Dec. 31, 2014USD ($)BRL / $	Dec. 31, 2013USD ($)	Mar. 31, 2016VEF / $	Feb. 10, 2015VEF / $
Significant Accounting Policies [Line Items]
Percentage of revenues and operating costs generated in foreign operations						99.90%	99.90%
Long-lived assets, intangible assets and goodwill located in the foreign operations	$ 184,178	$ 219,789	$ 184,178			$ 219,789		$ 184,178
Foreign currency losses		(5,387)		$ (648)		(240)	$ (9,217)
Exchange rate used to re-measure transactions | VEF / $												12
Foreign exchange gain (loss)					$ 20,400
Impairment of Long lived assets		13,717				13,717	16,226
Long-Lived Assets	81,633	104,808	81,633			104,808		81,633
Liabilities	664,148	775,582	664,148			$ 775,582		664,148
Percentage on relief of total income tax						60.00%
Percentage on relief of payroll tax						70.00%
Income tax expense (benefit)		12,360		$ 14,008		$ 19,316	28,663
Decrease current deferred tax assets								12,290
Decrease current deferred tax liabilities								2,551
Foreign tax credit	10,102	12,040	10,102			12,040		10,102
New Software Development Law [Member]
Significant Accounting Policies [Line Items]
Income tax expense (benefit)		(4,853)				(9,195)	0
Labor cost gain		$ 1,049				$ 2,006
Labor cost benefit							0
Aggregate per share effect of the Argentine tax holiday | $ / shares		$ 0.13				$ 0.25
Software development law audit fees		$ 413				$ 785	$ 0	785,000
Venezuelan Operations [Member]
Significant Accounting Policies [Line Items]
Foreign currency losses		$ (4,900)						0	$ 0	$ 0
Cumulative Inflation Rate Period						3 years
Foreign currency inflation rate		100.00%				100.00%
Percentage of increase in exchange ratio		130.00%
Impairment of Long lived assets					16,200	$ 13,700
Long-Lived Assets		$ 12,500				12,500
Liabilities	36,266	$ 39,765	36,266			$ 39,765		36,266
Foreign exchange rate | VEF / $		628				628					273
Fair value of real estate properties					$ 9,200
Percentage of consolidated net assets		4.00%				4.00%
Percentage of consolidated cash and investments		1.00%				1.00%
Venezuelan Operations [Member] | Intersegment Eliminations [Member]
Significant Accounting Policies [Line Items]
Liabilities	$ 24,600	$ 34,300	24,600			$ 34,300		$ 24,600
Argentinean Subsidiaries [Member]
Significant Accounting Policies [Line Items]
Foreign currency losses			$ 18,200
Exchange rate used to re-measure transactions | ARS / $	13.30	15	13.30			15		13.30
Percentage of increase in exchange ratio	37.00%
Other comprehensive income			$ 22,800
Foreign currency monthly purchases monetary cap						$ 5,000
Brazilian Subsidiaries [Member]
Significant Accounting Policies [Line Items]
Foreign currency losses								$ 14,600
Exchange rate used to re-measure transactions | BRL / $	3.90	3.20	3.90			3.20		3.90	2.70
Percentage of increase in exchange ratio								44.00%
Other comprehensive income								$ 9,000
2.25% Convertible Senior Notes Due 2019 [Member]
Significant Accounting Policies [Line Items]
Debt instrument, face amount	$ 330,000	$ 330,000	$ 330,000			$ 330,000		$ 330,000
Debt instrument, interest rate		2.25%				2.25%

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Assets, Liabilities and Net Assets of Company's Venezuelan Subsidiaries) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Significant Accounting Policies [Line Items]
Net Revenues	$ 199,644	$ 154,314	$ 357,274	$ 302,417
Assets	1,140,149		1,140,149		$ 1,003,606
Liabilities	(775,582)		(775,582)		(664,148)
Venezuelan Operations [Member]
Significant Accounting Policies [Line Items]
Net Revenues			19,566	$ 19,669
Assets	54,502		54,502		65,407
Liabilities	(39,765)		(39,765)		(36,266)
Net Assets	$ 14,737		$ 14,737		$ 29,141

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Foreign currency translation	$ (246,689)	$ (238,607)
Unrealized losses on investments	(602)	(1,023)
Estimated tax gain on unrealized losses on investments	208	351
Accumulated other comprehensive income, Total	$ (247,083)	$ (239,279)

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Summary of Changes in Accumulated Balances of Other Comprehensive Income) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	$ 351
Other comprehensive loss before reclassifications adjustments for gains (losses) on available for sale investments, tax	208
Amount of (loss) gain reclassified from accumulated other comprehensive loss, tax	(351)
Net current period other comprehensive income (loss), tax	(143)
Ending Balance	208
Beginning Balance	(239,279)
Other comprehensive loss before reclassifications adjustments for gains (losses) on available for sale investments, net of tax	(8,476)
Amount of (loss) gain reclassified from accumulated other comprehensive loss, net of tax	672	$ 379
Net current period other comprehensive income (loss), net of tax	(7,804)
Ending Balance	(247,083)
Unrealized (Losses) Gains on Investments [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(1,023)
Other comprehensive loss before reclassifications adjustments for gains (losses) on available for sale investments, before tax	(602)
Amount of (loss) gain reclassified from accumulated other comprehensive loss, before tax	1,023
Net current period other comprehensive income (loss), before tax	421
Ending Balance	(602)
Foreign Currency Translation [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(238,607)
Other comprehensive loss before reclassifications adjustments for gains (losses) on available for sale investments, before tax	(8,082)
Net current period other comprehensive income (loss), before tax	(8,082)
Ending Balance	$ (246,689)

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Reclassifications Out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense and other financial losses	$ (6,631)	$ (5,201)	$ (12,315)	$ (10,151)
Income / asset tax gain	(12,360)	(14,008)	(19,316)	(28,663)
Net income	$ 15,858	$ 19,463	46,105	$ 21,184
Amount of (Loss) Reclassified from Accumulated Other Comprehensive Loss [Member] | Unrealized (Losses) Gains on Investments [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense and other financial losses			(1,023)
Income / asset tax gain			351
Net income			$ (672)

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net income attributable to MercadoLibre, Inc. per common share
Net income attributable to MercadoLibre, Inc. Shareholders per common share, Basic	$ 0.36	$ 0.44	$ 1.04	$ 0.48
Net income attributable to MercadoLibre, Inc. Shareholders per common share, Diluted	$ 0.36	$ 0.44	$ 1.04	$ 0.48
Numerator:
Net income attributable to MercadoLibre, Inc. Shareholders, Basic	$ 15,858	$ 19,463	$ 46,105	$ 21,184
Net income attributable to MercadoLibre, Inc. Shareholders, Diluted	$ 15,858	$ 19,463	$ 46,105	$ 21,184
Denominator:
Weighted average of common stock outstanding for Basic earnings per share	44,157,341	44,155,271	44,157,151	44,155,035
Adjusted weighted average of common stock outstanding for Diluted earnings per share	44,157,341	44,155,271	44,157,151	44,155,035

Business Combinations, Goodwi32

Business Combinations, Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	Jun. 01, 2016	Feb. 12, 2016	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2015
Business Acquisition [Line Items]
Aggregate amortization expense for intangible assets				$ 905	$ 853		$ 1,719	$ 1,364
Monits S.A. [Member]
Business Acquisition [Line Items]
Percentage of acquisition		100.00%
Aggregate purchase price for acquisition		$ 3,056
Business acquisition, cash paid		1,713
Amount in escrow account		128
Additional contingent consideration		1,215
Net revenues						$ 1,045
Net income (loss)						63
Fair value of contingent consideration			$ 1,215	$ 1,215		$ 1,215	$ 1,215
Intangible assets		$ 196
Monits S.A. [Member] | Non-Compete Agreement/Solicitation [Member]
Business Acquisition [Line Items]
Amortized period, years							2 years
Axado Informação e Tecnologia S.A. [Member]
Business Acquisition [Line Items]
Percentage of acquisition	100.00%
Aggregate purchase price for acquisition	$ 5,536
Business acquisition, cash paid	4,706
Amount in escrow account	830
Additional contingent consideration	830
Net revenues			69
Net income (loss)			$ (71)
Intangible assets	1,327
Axado Informação e Tecnologia S.A. [Member] | Customer Lists [Member]
Business Acquisition [Line Items]
Intangible assets	676
Amortized period, years							5 years
Axado Informação e Tecnologia S.A. [Member] | Non-Compete Agreement/Solicitation [Member]
Business Acquisition [Line Items]
Intangible assets	118
Amortized period, years							5 years
Axado Informação e Tecnologia S.A. [Member] | Trademarks [Member]
Business Acquisition [Line Items]
Amortized period, years							3 years
Axado Informação e Tecnologia S.A. [Member] | Software [Member]
Business Acquisition [Line Items]
Intangible assets	$ 282
Amortized period, years							3 years

Business Combinations, Goodwi33

Business Combinations, Goodwill and Intangible Assets (Summary of Preliminary Purchase Price Allocation for Acquisition) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 01, 2016	Feb. 12, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill	$ 96,150			$ 86,545	$ 68,829
Chile [Member]
Business Acquisition [Line Items]
Goodwill	17,591			16,438	19,101
Mexico [Member]
Business Acquisition [Line Items]
Goodwill	$ 32,347			$ 33,834	$ 15,719
Monits S.A. [Member]
Business Acquisition [Line Items]
Cash and cash equivalents			$ 3
Other net tangible assets			25
Total net tangible assets			28
Intangible assets			196
Goodwill			2,832
Aggregate price paid			$ 3,056
Axado Informação e Tecnologia S.A. [Member]
Business Acquisition [Line Items]
Cash and cash equivalents		$ 90
Other net tangible assets		77
Total net tangible assets		167
Intangible assets		1,327
Goodwill		4,042
Aggregate price paid		5,536
Axado Informação e Tecnologia S.A. [Member] | Trademarks [Member]
Business Acquisition [Line Items]
Intangible assets		251
Axado Informação e Tecnologia S.A. [Member] | Customer Lists [Member]
Business Acquisition [Line Items]
Intangible assets		676
Axado Informação e Tecnologia S.A. [Member] | Software [Member]
Business Acquisition [Line Items]
Intangible assets		282
Axado Informação e Tecnologia S.A. [Member] | Non-Compete Agreement/Solicitation [Member]
Business Acquisition [Line Items]
Intangible assets		$ 118

Business Combinations, Goodwi34

Business Combinations, Goodwill and Intangible Assets (Composition of Goodwill and Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 96,150	$ 86,545	$ 68,829
Total intangible assets	38,436	36,351
Accumulated amortization	(9,310)	(7,360)
Total intangible assets, net	29,126	28,991
Licenses And Others [Member]
Indefinite-lived Intangible Assets [Line Items]
Amortizable intangible assets	7,430	8,691
Non-Compete Agreement/Solicitation [Member]
Indefinite-lived Intangible Assets [Line Items]
Amortizable intangible assets	1,851	1,615
Customer Lists [Member]
Indefinite-lived Intangible Assets [Line Items]
Amortizable intangible assets	14,866	12,971
Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Amortizable intangible assets	1,011
Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Intangible assets with indefinite lives	$ 13,278	$ 13,074

Business Combinations, Goodwi35

Business Combinations, Goodwill and Intangible Assets (Table Showing Changes in Carrying Amount of Goodwill) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Goodwill [Line Items]
Balance, beginning of the period	$ 86,545	$ 68,829
Business acquisition	6,874	37,044
Effect of exchange rates changes	2,731	(19,328)
Balance, end of the period	96,150	86,545
Brazil [Member]
Goodwill [Line Items]
Balance, beginning of the period	18,526	10,557
Business acquisition	5,635	14,066
Effect of exchange rates changes	3,973	(6,097)
Balance, end of the period	28,134	18,526
Argentina [Member]
Goodwill [Line Items]
Balance, beginning of the period	7,430	11,859
Business acquisition	700
Effect of exchange rates changes	(985)	(4,429)
Balance, end of the period	7,145	7,430
Chile [Member]
Goodwill [Line Items]
Balance, beginning of the period	16,438	19,101
Business acquisition
Effect of exchange rates changes	1,153	(2,663)
Balance, end of the period	17,591	16,438
Mexico [Member]
Goodwill [Line Items]
Balance, beginning of the period	33,834	15,719
Business acquisition	190	22,978
Effect of exchange rates changes	(1,677)	(4,863)
Balance, end of the period	32,347	33,834
Venezuela [Member]
Goodwill [Line Items]
Balance, beginning of the period	5,729	5,729
Business acquisition	260
Effect of exchange rates changes
Balance, end of the period	5,989	5,729
Colombia [Member]
Goodwill [Line Items]
Balance, beginning of the period	3,437	4,521
Business acquisition	57
Effect of exchange rates changes	255	(1,084)
Balance, end of the period	3,749	3,437
Other Countries [Member]
Goodwill [Line Items]
Balance, beginning of the period	1,151	1,343
Business acquisition	32
Effect of exchange rates changes	12	(192)
Balance, end of the period	$ 1,195	$ 1,151

Business Combinations, Goodwi36

Business Combinations, Goodwill and Intangible Assets (Expected Intangible Asset Amortization Expense) (Details) $ in Thousands	Jun. 30, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
For year ended 12/31/2016	$ 2,259
For year ended 12/31/2017	3,884
For year ended 12/31/2018	3,119
For year ended 12/31/2019	2,341
Thereafter	4,245
Total remaining amortization of intangible assets	$ 15,848

Segment Reporting (Financial Pe

Segment Reporting (Financial Performance of Company's Reporting Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net revenues	$ 199,644	$ 154,314	$ 357,274	$ 302,417
Direct costs	(120,340)	(88,241)	(219,171)	(168,051)
Impairment of Long-Lived Assets	(13,717)		(13,717)	(16,226)
Direct contribution	65,587	66,073	124,386	118,140
Operating expenses and indirect costs of net revenues	(33,400)	(31,436)	(61,710)	(57,916)
Income from operations	32,187	34,637	62,676	60,224
Other income (expenses):
Interest income and other financial gains	8,049	4,683	15,300	8,991
Interest expense and other financial losses	(6,631)	(5,201)	(12,315)	(10,151)
Foreign currency losses	(5,387)	(648)	(240)	(9,217)
Net income before income / asset tax expense	28,218	33,471	65,421	49,847
Brazil [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	102,889	72,867	180,424	141,365
Direct costs	(61,462)	(43,995)	(111,761)	(83,676)
Direct contribution	41,427	28,872	68,663	57,689
Argentina [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	67,701	56,830	115,902	104,262
Direct costs	(38,446)	(29,057)	(66,192)	(53,842)
Direct contribution	29,255	27,773	49,710	50,420
Mexico [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	11,452	9,991	22,568	19,428
Direct costs	(9,200)	(6,646)	(18,651)	(12,615)
Direct contribution	2,252	3,345	3,917	6,813
Venezuela [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	7,461	5,714	19,566	19,669
Direct costs	(4,094)	(2,631)	(9,228)	(6,835)
Impairment of Long-Lived Assets	(13,717)		(13,717)	(16,226)
Direct contribution	(10,350)	3,083	(3,379)	(3,392)
Other Countries [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues	10,141	8,912	18,814	17,693
Direct costs	(7,138)	(5,912)	(13,339)	(11,083)
Direct contribution	$ 3,003	$ 3,000	$ 5,475	$ 6,610

Segment Reporting (Allocation o

Segment Reporting (Allocation of Long-Lived Tangible Assets Based on Geography) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	$ 104,808	$ 81,633
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	10,125	12,756
Argentina [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	22,861	22,379
Brazil [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	39,799	17,150
Mexico [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	2,697	2,475
Venezuela [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	21,084	21,556
Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	8,242	5,317
Total Foreign Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived tangible assets	$ 94,683	$ 68,877

Segment Reporting (Allocation39

Segment Reporting (Allocation of Goodwill and Intangible Assets Based on Geography) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	$ 125,276	$ 115,536
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	170	235
Argentina [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	8,310	8,763
Brazil [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	32,344	21,338
Mexico [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	43,476	46,186
Venezuela [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	7,421	7,217
Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	33,555	31,797
Total Foreign Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	$ 125,106	$ 115,301

Segment Reporitng (Consolidated

Segment Reporitng (Consolidated Net Revenues by Similar Products and Services) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues		$ 199,644	$ 154,314	$ 357,274	$ 302,417
Marketplace [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues		113,252	93,181	207,375	187,943
Non-marketplace [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	[1]	$ 86,392	$ 61,133	$ 149,899	$ 114,474
[1]	Includes, among other things, Ad Sales, Real Estate, Motors, Financing Fees, Off-platform Payment Fees, Shipping Fees and other ancillary services.

Fair Value Measurement of Ass41

Fair Value Measurement of Assets and Liabilities (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Non-financial assets	$ 0	$ 0
Non-financial liabilities	0	0
Unobservable inputs (Level 3) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Recognized in earnings, contingent consideration	230
Other comprehensive (loss) income, gain from contingent considerations	1,010
Additional contingent consideration	1,215
Contingent consideration settled	7,347
Amount in escrow account	1,200
Auction Rate Securities [Member] | Direct Investment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Collateralized Debt Obligations [Member] | Direct Investment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Structured Investment Vehicles [Member] | Direct Investment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	$ 0	$ 0

Fair Value Measurement of Ass42

Fair Value Measurement of Assets and Liabilities (Financial Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Assets	$ 387,523	$ 375,283
Contingent considerations	4,115	9,007
Long-term retention plan	17,377	17,159
Total Financial Liabilities	21,492	26,166
Certificates of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	19,037	11,516
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Assets	245,231	162,661
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Assets	142,292	212,622
Long-term retention plan	17,377	17,159
Total Financial Liabilities	17,377	17,159
Significant Other Observable Inputs (Level 2) [Member] | Certificates of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	19,037	11,516
Unobservable inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent considerations	4,115	9,007
Total Financial Liabilities	4,115	9,007
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	66,708	46,423
Money Market Funds [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	66,708	46,423
Sovereign Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	62,266	69,302
Sovereign Debt Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	59,799	64,264
Sovereign Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	2,467	5,038
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	10,484	15,785
Investments	229,028	232,257
Corporate Debt Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	118,724	51,974
Corporate Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	10,484	15,785
Investments	$ 110,304	$ 180,283

Fair Value Measurement of Ass43

Fair Value Measurement of Assets and Liabilities (Fair Value of Financial Assets and Liabilities Measured at Amortized Cost) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	$ 397,727	$ 290,564
Liabilities	721,991	610,933
Accounts Payable And Accrued Expenses [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	86,068	62,038
Funds Payable to Customers [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	277,528	203,247
Salaries and Social Security Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	25,648	26,181
Tax Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	16,419	10,092
Dividends Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	6,624	4,548
Loans Payable and Other Financial Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	297,473	296,307
Other Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	12,231	8,520
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	397,727	290,564
Liabilities	721,991	610,933
Significant Other Observable Inputs (Level 2) [Member] | Accounts Payable And Accrued Expenses [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	86,068	62,038
Significant Other Observable Inputs (Level 2) [Member] | Funds Payable to Customers [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	277,528	203,247
Significant Other Observable Inputs (Level 2) [Member] | Salaries and Social Security Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	25,648	26,181
Significant Other Observable Inputs (Level 2) [Member] | Tax Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	16,419	10,092
Significant Other Observable Inputs (Level 2) [Member] | Dividends Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	6,624	4,548
Significant Other Observable Inputs (Level 2) [Member] | Loans Payable and Other Financial Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	297,473	296,307
Significant Other Observable Inputs (Level 2) [Member] | Other Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	12,231	8,520
Time Deposits [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	98,917	76,658
Time Deposits [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	98,917	76,658
Accounts Receivable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	40,055	28,428
Accounts Receivable [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	40,055	28,428
Credit Cards Receivable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	215,437	131,946
Credit Cards Receivable [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	215,437	131,946
Other Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	43,318	53,532
Other Assets [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	$ 43,318	$ 53,532

Fair Value Measurement of Ass44

Fair Value Measurement of Assets and Liabilities (Fair Value of Money Market Funds, Short and Long-Term Investments Classified as Available for Sale Securities) (Details) - USD ($) $ in Thousands		Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Cost		$ 386,242	$ 376,306
Gross Unrealized Gains	[1]	1,426	76
Gross Unrealized Losses	[1]	(145)	(1,099)
Estimated Fair Value		387,523	375,283
Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		77,205	62,219
Gross Unrealized Losses	[1]	(13)	(11)
Estimated Fair Value		77,192	62,208
Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		152,525	125,627
Gross Unrealized Gains	[1]	97	5
Gross Unrealized Losses	[1]	(123)	(178)
Estimated Fair Value		152,499	125,454
Long-Term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		156,512	188,460
Gross Unrealized Gains	[1]	1,329	71
Gross Unrealized Losses	[1]	(9)	(910)
Estimated Fair Value		157,832	187,621
Money Market Funds [Member] | Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		66,708	46,423
Estimated Fair Value		66,708	46,423
Sovereign Debt Securities [Member] | Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		9,857	13,981
Gross Unrealized Gains	[1]	10
Gross Unrealized Losses	[1]		(19)
Estimated Fair Value		9,867	13,962
Sovereign Debt Securities [Member] | Long-Term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		52,056	55,536
Gross Unrealized Gains	[1]	343	53
Gross Unrealized Losses	[1]		(249)
Estimated Fair Value		52,399	55,340
Corporate Debt Securities [Member] | Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		10,497	15,796
Gross Unrealized Losses	[1]	(13)	(11)
Estimated Fair Value		10,484	15,785
Corporate Debt Securities [Member] | Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		123,638	103,130
Gross Unrealized Gains	[1]	79	4
Gross Unrealized Losses	[1]	(122)	(157)
Estimated Fair Value		123,595	102,977
Corporate Debt Securities [Member] | Long-Term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		104,456	129,921
Gross Unrealized Gains	[1]	986	18
Gross Unrealized Losses	[1]	(9)	(659)
Estimated Fair Value		105,433	129,280
Certificates of Deposit [Member] | Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		19,030	8,516
Gross Unrealized Gains	[1]	8	1
Gross Unrealized Losses	[1]	(1)	(2)
Estimated Fair Value		$ 19,037	8,515
Certificates of Deposit [Member] | Long-Term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost			3,003
Gross Unrealized Losses	[1]		(2)
Estimated Fair Value			$ 3,001
[1]	Unrealized gains (losses) from securities are attributable to market price movements, net foreign exchange losses and foreign currency translation. Management does not believe any remaining significant unrealized losses represent other-than-temporary impairments based on the evaluation of available evidence including the credit rating of the investments, as of June 30, 2016 and December 31, 2015.

Fair Value Measurement of Ass45

Fair Value Measurement of Assets and Liabilities (Estimated Fair Values of Money Market Funds, Short-Term and Long-Term Investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value Measurement of Assets and Liabilities [Abstract]
One year or less	$ 229,691
One year to two years	80,405
Two years to three years	52,999
Three years to four years	9,923
Four years to five years	14,357
More than five years	148
Total	$ 387,523	$ 375,283

Commitments and Contingencies (

Commitments and Contingencies (Details) $ / d in Thousands, $ in Thousands, BRL in Millions	Aug. 15, 2011USD ($)	Sep. 23, 2010$ / d	Jun. 30, 2016USD ($)	Jun. 30, 2016BRLitem	Jun. 30, 2016USD ($)item	Aug. 15, 2011BRL	Aug. 15, 2011USD ($)	Dec. 31, 2007USD ($)
Loss Contingencies [Line Items]
Reserves for proceeding-related contingencies | $					$ 5,430
Aggregate amount for legal actions for which no loss amount has been accrued | $					$ 4,501
Loss accrued for reasonably possible legal actions | $			$ 0
Argentinean Subsidiaries [Member]
Loss Contingencies [Line Items]
Number of lawsuits pending | item				56	56
Number of legal actions pending | item				1,307	1,307
Mexican Subsidiaries [Member]
Loss Contingencies [Line Items]
Number of lawsuits pending | item				6	6
Number of legal actions pending | item				102	102
Brazilian Subsidiaries [Member]
Loss Contingencies [Line Items]
Estimated damage according to exchange rate | $					$ 4,100
Deposit with court | $	$ 9,500
Accrued interests						BRL 13.2	$ 4,100
City of Sao Paulo Tax Claim [Member] | Brazilian Subsidiaries [Member]
Loss Contingencies [Line Items]
Estimated damage according to exchange rate | $								$ 5,900
Brazilian Ordinary Courts [Member] | Brazilian Subsidiaries [Member]
Loss Contingencies [Line Items]
Number of lawsuits pending | item				677	677
Brazilian Consumer Courts [Member] | Brazilian Subsidiaries [Member]
Loss Contingencies [Line Items]
Number of lawsuits pending | item				2,566	2,566
Brazilian Federal Tax Claims [Member]
Loss Contingencies [Line Items]
Deposits in court, non-current other assets				BRL 12.5	$ 3,900
Citizen Watch do Brasil [Member]
Loss Contingencies [Line Items]
Daily non-compliance penalty | $ / d		6

Long Term Retention Plan ("LT47

Long Term Retention Plan ("LTRP") (Narrative) (Details) - LTRP 2016 [Member] - $ / shares	Aug. 02, 2016	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of fixed payments for eligible employees		6 years
Number of trading days consider for average closing stock price		60 days
Subsequent Events [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of fixed awards for fixed payments	16.66%
Percent of variable awards for variable payments	16.66%
Stock price per share, average closing price	$ 111.02

Long Term Retention Plan ("LT48

Long Term Retention Plan ("LTRP") (Long Term Retention Plans Accrued Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
LTRP 2009 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	$ 250	$ 320	$ 283	$ 308
LTRP 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	401	392	464	511
LTRP 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	495	445	590	587
LTRP 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	596	522	726	707
LTRP 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	1,252	1,196	1,665	2,038
LTRP 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	1,111	$ 1,067	1,615	$ 2,126
LTRP 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	1,254		2,147
LTRP 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	$ 2,636		$ 2,636

2.25% Convertible Senior Note49

2.25% Convertible Senior Notes Due 2019 (Carrying Amounts of Liability and Equity Components) (Details) - 2.25% Convertible Senior Notes Due 2019 [Member] - USD ($) $ in Thousands		Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Amount of the equity component	[1]	$ 45,808	$ 45,808
2.25% convertible senior notes due 2019		330,000	330,000
Unamortized debt discount	[2]	(29,718)	(34,214)
Unamortized transaction costs related to the debt component		(4,655)	(5,309)
Contractual coupon interest accrual		3,713	7,425
Contractual coupon interest payment		(3,713)	(7,425)
Net carrying amount		$ 295,627	$ 290,477
[1]	Net of $1,177 thousands of transaction costs related to the equity component of the Notes.
[2]	As of June 30, 2016, the remaining period over which the unamortized debt discount will be amortized is 3.0 years.

2.25% Convertible Senior Note50

2.25% Convertible Senior Notes Due 2019 (Carrying Amounts of Liability and Equity Components - Additional Information) (Details) - 2.25% Convertible Senior Notes Due 2019 [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt instrument, interest rate	2.25%
Transaction costs related to the equity component	$ 1,177	$ 1,177
Remaining period over which the unamortized debt discount will be amortized	3 years

2.25% Convertible Senior Note51

2.25% Convertible Senior Notes Due 2019 (Summary of Interest Expense for Contractual Interest and Accretion of Debt Discount) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
2.25% Convertible Senior Notes Due 2019 [Abstract]
Contractual coupon interest expense	$ 1,857	$ 3,713
Amortization of debt discount	2,248	4,496
Amortization of debt issuance costs	327	654
Total interest expense related to Notes	$ 4,432	$ 8,863

Cash Dividend Distribution (Det

Cash Dividend Distribution (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Aug. 02, 2016	May 04, 2016	Feb. 19, 2016	Nov. 30, 2015	Jul. 31, 2015	Apr. 30, 2015	Feb. 28, 2015
Dividends Payable [Line Items]
Cash dividends declared						$ 6,624	$ 6,624	$ 4,548	$ 4,548	$ 4,548	$ 4,548
Cash dividends declared, per share						$ 0.150	$ 0.150	$ 0.103	$ 0.103	$ 0.103	$ 0.103
Cash dividend declared, per share	$ 0.150	$ 0.103	$ 0.150	$ 0.206
Subsequent Events [Member]
Dividends Payable [Line Items]
Cash dividends declared					$ 6,624
Cash dividends declared, per share					$ 0.150
First Quarter Previous Year [Member]
Dividends Payable [Line Items]
Dividend payable date			Apr. 16, 2016
Dividends payment, date of record			Mar. 31, 2016
Second Quarter Previous Year [Member]
Dividends Payable [Line Items]
Dividend payable date			Jul. 16, 2016
Dividends payment, date of record			Jun. 30, 2016
Third Quarter Previous Year [Member]
Dividends Payable [Line Items]
Dividend payable date			Oct. 16, 2015
Dividends payment, date of record			Sep. 30, 2016
Fourth Quarter Previous Year [Member]
Dividends Payable [Line Items]
Dividend payable date			Jan. 15, 2016
Dividends payment, date of record			Dec. 31, 2015
First Quarter [Member]
Dividends Payable [Line Items]
Dividend payable date			Apr. 15, 2016
Dividends payment, date of record			Mar. 31, 2016
Second Quarter [Member]
Dividends Payable [Line Items]
Dividend payable date			Jul. 15, 2016
Dividends payment, date of record			Jun. 30, 2016
Third Quarter [Member]
Dividends Payable [Line Items]
Dividend payable date			Oct. 14, 2016
Dividends payment, date of record			Sep. 30, 2016