MercadoLibre (MELI) 10-Q 3 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 01, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	MELI
Entity Registrant Name	MERCADOLIBRE INC
Entity Central Index Key	0001099590
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		49,318,513

Interim Condensed Consolidated

Interim Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 1,295,886	$ 440,332
Restricted cash and cash equivalents	10,375	24,363
Short-term investments (238,029 and 284,317 held in guarantee)	1,648,457	461,541
Accounts receivable, net	34,524	35,153
Credit cards receivable, net	308,468	360,298
Loans receivable, net	134,640	95,778
Prepaid expenses	24,132	27,477
Inventory	3,003	4,612
Other assets	60,968	61,569
Total current assets	3,520,453	1,511,123
Non-current assets:
Long-term investments	275,432	276,136
Property and equipment, net	188,956	165,614
Operating lease right-of-use assets	153,499
Goodwill	89,827	88,883
Intangible assets, net	17,683	18,581
Deferred tax assets	160,846	141,438
Other assets	41,464	37,744
Total non-current assets	927,707	728,396
Total assets	4,448,160	2,239,519
Current liabilities:
Accounts payable and accrued expenses	246,767	266,759
Funds payable to customers	680,746	640,954
Salaries and social security payable	76,123	60,406
Taxes payable	34,414	31,058
Loans payable and other financial liabilities	141,162	132,949
Operating lease liabilities	12,585
Other liabilities	56,418	34,098
Total current liabilities	1,248,215	1,166,224
Non-current liabilities:
Salaries and social security payable	31,827	23,161
Loans payable and other financial liabilities	602,061	602,228
Operating lease liabilities	143,047
Deferred tax liabilities	97,006	91,698
Other liabilities	13,258	19,508
Total non-current liabilities	887,199	736,595
Total liabilities	2,135,414	1,902,819
Redeemable convertible preferred stock, $0.001 par value, 40,000,000 shares authorized, 100,000 shares issued and outstanding at March 31, 2019 (Note 10)	98,688
Equity
Common stock, $0.001 par value, 110,000,000 shares authorized, 49,318,498 and 45,202,859 shares issued and outstanding at March 31, 2019 and December 31, 2018	49	45
Additional paid-in capital	2,097,142	224,800
Retained earnings	509,455	503,432
Accumulated other comprehensive loss	(392,588)	(391,577)
Total Equity	2,214,058	336,700
Total Liabilities, Redeemable convertible preferred stock and Equity	$ 4,448,160	$ 2,239,519

Interim Condensed Consolidate_2

Interim Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Interim Condensed Consolidated Balance Sheets [Abstract]
Held in guarantee	$ 238,029	$ 284,317
Redeemable convertible preferred stock, Par Value	$ 0.001	$ 0.001
Redeemable convertible preferred stock, Shares Authorized	40,000,000	40,000,000
Redeemable convertible preferred stock, Shares Issued	100,000
Redeemable convertible preferred stock, Shares Outstanding	100,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	110,000,000	110,000,000
Common stock, shares issued	49,318,498	45,202,859
Common stock, shares outstanding	49,318,498	45,202,859

Interim Condensed Consolidate_3

Interim Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Interim Condensed Consolidated Statements of Income [Abstract]
Net revenues	$ 473,770	$ 320,976
Cost of net revenues	(236,766)	(158,218)
Gross profit	237,004	162,758
Operating expenses:
Product and technology development	(52,369)	(38,396)
Sales and marketing	(130,676)	(110,723)
General and administrative	(43,820)	(43,058)
Total operating expenses	(226,865)	(192,177)
Income (loss) from operations	10,139	(29,419)
Other income (expenses):
Interest income and other financial gains	24,444	9,195
Interest expense and other financial losses	(15,559)	(10,734)
Foreign currency (losses) gains	(3,669)	5,601
Net income (loss) before income tax expense (gain)	15,355	(25,357)
Income tax (expense) gain	(3,491)	12,438
Net income (loss)	$ 11,864	$ (12,919)
Basic EPS: Basic net income (loss)
Available to shareholders per common share	$ 0.13	$ (0.29)
Weighted average of outstanding common shares	45,980,255	44,157,364
Diluted EPS: Diluted net income (loss)
Available to shareholders per common share	$ 0.13	$ (0.29)
Weighted average of outstanding common shares	45,980,255	44,157,364

Interim Condensed Consolidate_4

Interim Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Interim Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net income (loss)	$ 11,864	$ (12,919)
Other comprehensive income (loss), net of income tax:
Currency translation adjustment	(294)	(15,573)
Unrealized net gains (losses) on available for sale investments	2,012	(24)
Less: Reclassification adjustment for gains from accumulated other comprehensive income	2,729	796
Net change in accumulated other comprehensive loss, net of income tax	(1,011)	(16,393)
Total Comprehensive income (loss)	$ 10,853	$ (29,312)

Interim Condensed Consolidate_5

Interim Condensed Consolidated Statement of Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Beginning Balance at Dec. 31, 2017	$ 44	$ 70,661	$ 537,925	$ (282,851)	$ 325,779
Beginning Balance (in shares) at Dec. 31, 2017	44,157
Capped Call		(45,692)			(45,692)
Changes in accounting Standards			2,092		2,092
Net income (loss)			(12,919)		(12,919)
Other comprehensive loss				(16,393)	(16,393)
Ending Balance at Mar. 31, 2018	$ 44	24,969	527,098	(299,244)	252,867
Ending Balance (in shares) at Mar. 31, 2018	44,157
Beginning Balance at Dec. 31, 2018	$ 45	224,800	503,432	(391,577)	336,700
Beginning Balance (in shares) at Dec. 31, 2018	45,203
Common Stock issued	$ 4	1,866,496			1,866,500
Common Stock issued (in shares)	4,116
Exercise of convertible notes		2			2
Unwind Capped Call		3			3
Net income (loss)			11,864		11,864
Amortization of Preferred Stock discount		5,841	(5,841)
Other comprehensive loss				(1,011)	(1,011)
Ending Balance at Mar. 31, 2019	$ 49	$ 2,097,142	$ 509,455	$ (392,588)	$ 2,214,058
Ending Balance (in shares) at Mar. 31, 2019	49,319

Interim Condensed Consolidate_6

Interim Condensed Consolidated Statements of Cash Flow - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operations:
Net income (loss)	$ 11,864	$ (12,919)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Unrealized devaluation loss, net	1,886
Depreciation and amortization	15,694	11,084
Accrued interest	(8,699)	(4,447)
Non cash interest and convertible notes amortization of debt discount and amortization of debt issuance costs	3,018	7,063
LTRP accrued compensation	13,441	15,737
Deferred income taxes	(14,456)	(30,601)
Changes in assets and liabilities:
Accounts receivable	337	(9,347)
Credit card receivables	35,893	(33,870)
Prepaid expenses	3,316	(16,164)
Inventory	1,652	(872)
Other assets	(5,085)	(13,009)
Accounts payable and accrued expenses	(491)	22,773
Funds payable to customers	63,730	20,613
Other liabilities	12,735	3,041
Interest received from investments	3,536	3,912
Net cash provided by (used in) operating activities	138,371	(37,006)
Cash flows from investing activities:
Purchase of investments	(1,624,226)	(632,734)
Proceeds from sale and maturity of investments	439,712	683,909
Purchases of intangible assets	(34)	(97)
Advance for property and equipment		(3,390)
Changes in principal of loans receivable, net	(42,609)	(52,243)
Purchases of property and equipment	(32,928)	(19,542)
Net cash used in investing activities	(1,260,085)	(24,097)
Cash flows from financing activities:
Purchase of convertible note capped call		(45,692)
Proceeds from loans payable and other financial liabilities	33,977	80,925
Payments on loans payable and other financing liabilities	(23,816)	(4,583)
Payment of finance lease obligations	(662)
Dividends paid		(6,624)
Proceeds from issuance of convertible redeemable preferred stock	98,688
Proceeds from issuance of common stock	1,866,500
Net cash provided by financing activities	1,974,687	24,026
Effect of exchange rate changes on cash, cash equivalents, restricted cash and cash equivalents	(11,407)	(772)
Net increase in cash, cash equivalents, restricted cash and cash equivalents	841,566	(37,849)
cash, cash equivalents, restricted cash and cash equivalents, beginning of the period	464,695	388,260
cash, cash equivalents, restricted cash and cash equivalents, end of the period	$ 1,306,261	$ 350,411

Nature of Business

Nature of Business	3 Months Ended
	Mar. 31, 2019
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 largest online commerce ecosystem in Latin America , serving as an integrated regional platform and as a provider of the necessary online and technology-based tools that 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 Mercado Pago, the Company’s FinTech solution, MercadoLibre enables individuals and businesses to send and receive online payments; through Mercado Envios, MercadoLibre facilitates the shipping of goods from sellers to buyers; through our advertising products, MercadoLibre facilitates advertising services for large retailers and brands to promote their product and services on the web; through MercadoShops, MercadoLibre allows users to set-up, manage, and promote their own on-line web-stores under a subscription-based business model; through MercadoCredito, MercadoLibre extends loans to certain merchants and consumers; and through MercadoFondo, MercadoLibre allows users to invest funds deposited in their Mercado Pago accounts. In addition, MercadoLibre develops and sells software enterprise solutions to e-commerce business clients in Brazil. As of March 31, 2019 , 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, El Salvador, Uruguay, Bolivia, Guatemala, Paraguay and Venezuela. Additionally, MercadoLibre operates an online payments solution in Argentina, Brazil, Mexico, Colombia, Chile, Peru and Uruguay. It also offers a shipping solution directed towards Argentina, Brazil, Mexico, Colombia, Chile and Uruguay. 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	3 Months Ended
	Mar. 31, 2019
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, its wholly-owned subsidiaries and consolidated Variable Interest Entities (“VIE”). These interim condensed consolidated financial statements are stated in U.S. dollars, except where 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. Long-lived assets, intangible assets and goodwill located in the foreign jurisdictions totaled $294,120 thousands and $ 270,073 thousands as of March 31, 2019 and December 31, 2018, respectively. These interim condensed consolidated financial statements reflect the Company’s consolidated financial position as of March 31, 2019 and December 31, 2018. These financial statements include the Company’s consolidated statements of income, comprehensive income, equity and of cash flows for the three -month periods ended March 31, 2019 and 2018. 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, 2018, 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, comprehensive income, equity and cash flows for the periods presented herein are not necessarily indicative of results expected for any future period. For a more detailed discussion of the Company’s significant accounting policies, see note 2 to the financial statements in the Company’s Form 10-K for the year ended December 31, 2018. During the three -month period ended March 31, 2019 , there were no material updates made to the Company’s significant accounting policies, except for the adoption of ASC 842 and the investments fair value option as of January 1, 2019. S ee Note 2 to these interim condensed consolidated financial statements for more details. Cash and cash equivalents Cash, cash equivalents and restricted cash and cash equivalents of $1,306,261 thousands and $464,695 thousands as reported in the consolidated sta tements of cash flow as of March 31, 2019 and December 31, 2018, respectively, is the sum of $1,295,886 thousand s and $10,375 thousands as of March 31, 2019 and the sum of $440,332 thousands and $24,363 thousands as of December 31, 2018 shown in lines Cash and cash equivalents and Restricted cash and cash equivalents of the consolidated balance sheet. Revenue recognition Revenue recognition criteria for the services mentioned above are described in note 2 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.  Contract Balances  Timing of revenue recognition may differ from the timing of invoicing to customers. Receivables represent amounts invoiced and revenue recognized prior to invoicing when the Company has satisfied the performance obligation and has the unconditional right to payment. The allowance for doubtful accounts, loans receivable and chargebacks is estimated based upon our assessment of various factors including historical experience, the age of the accounts receivable balances, current economic conditions and other factors that may affect our customers’ ability to pay. The allowance for doubtful accounts, loans receivable and chargebacks was $26,783 thousands and $23,411 thousands as of March 31, 2019 and December 31, 2018, respectively.  Deferred revenue consists of fees received related to unsatisfied performance obligations at the end of the period in accordance with ASC 606. Due to the generally short-term duration of contracts, the majority of the performance obligations are satisfied in the following reporting period. Deferred revenue as of December 31, 2018 and 2017 was $5,918 thousands and $6,116 thousands, respectively, of which $3,188 thousands and $4,316 thousands were recognized as revenue during the three -month periods ended March 31, 2019 and 2018, respectively.  As of March 31, 2019 , total deferred revenue was $5,958 thousands, mainly due to fees related to listing and optional feature services billed and loyalty programs that are expected to be recognized as revenue in the coming months. Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities in the consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term, which is a non-monetary asset, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease, which is a monetary liability. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the leases do not provide an implicit rate, the Company uses incremental borrowing rates based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease prepaid payments made. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. According to transition guidance, finance leases that existed at December 31, 2018 are included in property and equipment, and loans payable and other financial liabilities in the consolidated balance sheets. Foreign currency translation All of the Company’s consolidated foreign operations use the local currency as their functional currency, except for Argentina, which has used the U.S. dollar as its functional currency since July 1, 2018, as described below. Accordingly, the foreign subsidiaries with local currency as functional currency 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 monthly 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 translation adjustment is recorded as a component of other comprehensive income (loss).  Argentine currency status  As of July 1, 2018, the Company transitioned its Argentinian operations to highly inflationary status in accordance with U.S. GAAP, and changed the functional currency for Argentine subsidiaries from Argentine Pesos to U.S. dollars, which is the functional currency of their immediate parent company.  Pursuant to the change in the functional currency, monetary assets and liabilities are remeasured at closing exchange rate, and non-monetary assets, revenues and expenses are remeasured at the rate prevailing on the date of the respective transaction. The effect of the re measurement is recognized as foreign currency (losses) gains.  Argentina is the second largest principal market of the Company’s business, as measured by net revenue (see Note 5 – Segment Reporting). The economic environment in Argentina has been volatile with weak economic conditions, devaluation of local currency, high interest rates, high level of inflation and a large public deficit which led Argentina to request financial assistance from the International Monetary Fund . Income tax 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 carryforwards. 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 Argentine government issued a regulatory decree establishing the requirements to become a beneficiary of the new software development law, including a requirement to comply with annual incremental ratios related to exports of services and research and development. The new law will expire on December 31, 2019. The Argentine Industry Secretary approved the Company’s application for eligibility under the law for the Company’s Argentine subsidiary, Mercadolibre S.R.L. As a result, the Company’s Argentine subsidiary has been granted a tax holiday retroactive from September 18, 2014. A portion of the benefits obtained is a 60% relief of total income tax related to software development activities and a 70% relief of payroll taxes related to software development activities. As a result of the Company’s eligibility under the new law, it recorded an income tax benefit of $3,319 thousands and $7,299 thousands during the three-month periods ended March 31, 2019 and 2018, respectively. Aggregate per share effect of the Argentine tax holiday amounted to $0.07 and $0.17 for the three-month periods ended March 31, 2019 and 2018, respectively. Furthermore, the Company recorded a labor cost benefit of $2,396 thousands and $2,016 thousands during the three-month periods ended March 31, 2019 and 2018, respectively. Additionally, $400 thousands and $652 thousands were accrued to pay software development law audit fees during the first quarter of 2019 and 2018, respectively. Redeemable Convertible Preferred Stock On March 29, 2019 an affiliate of Dragoneer Investment Group purchased, in a private placement, 100,000 shares of perpetual convertible preferred stock designated as Series A Preferred Stock, par value $0.001 per share (the “Preferred Stock”) , of the Company for $100 million in the aggregate. The Company determined that the shares of Preferred Stock should be classified as mezzanine equity upon their issuance since they are contingently redeemable as explained in Note 10. The Company also determined that there is a beneficial conversion feature of $5,841 thousands attributable to the Preferred Stock because the initial conversion price was lower than the fair value of MercadoLibre’s common stock on March 29, 2019 (the commitment date). The beneficial conversion feature was fully amortized at issuance, increasing the Preferred Stock’s carrying amount, since the shares of Preferred Stock are perpetual and the holders of Preferred Stock have the right to convert immediately. In addition, the Company determined that there were no embedded derivatives requiring bifurcation. Fair value option applied to certain financial instruments Under ASC 825, U.S. GAAP provides an option to elect fair value with impact on the statement of income as an alternative measurement for certain financial instruments and other items on the balance sheet. The Company has elected to measure certain financial assets at fair value with impact on the statement of income from January 1, 2019 for several reasons including to avoid the mismatch generated by the recognition of certain linked instruments / transactions, separately, in consolidated statement of income and consolidated statement of other comprehensive income and to better reflect the financial model applied for selected instruments. The Company’s election of the fair value option applies to the: i) Brazilian federal government bonds and ii) U.S. treasury notes. As result of the election of the fair value option, the Company recognized gains in interest income and other financial gains of $3,048 thousands for the period ended March 31, 2019. Accumulated other comprehensive loss The following table sets forth the Company’s accumulated other comprehensive loss as of March 31, 2019 and December 31, 2018:    March 31, December 31,  2019 2018  (In thousands)  Accumulated other comprehensive loss:  Foreign currency translation $ (394,600) $ (394,306)  Unrealized gains on investments 2,025 3,345  Estimated tax loss on unrealized gains on investments (13) (616)  $ (392,588) $ (391,577)  The following tables summarize the changes in accumulated balances of other comprehensive loss for the three -month period ended March 31, 2019 :      Unrealized Foreign Estimated tax  (Losses) Gains on Currency (expense)  Investments Translation benefit Total  (In thousands)  Balances as of December 31, 2018 $ 3,345 $ (394,306) $ (616) $ (391,577)  Other comprehensive income (loss) before reclassifications 2,025 (294) (13) 1,718  Amount of loss (gain) reclassified from accumulated other comprehensive loss (3,345) — 616 (2,729)  Net current period other comprehensive income (loss) (1,320) (294) 603 (1,011)  Ending balance $ 2,025 $ (394,600) $ (13) $ (392,588)       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 gains on investments $ 3,345 Interest income and other financial gains  Estimated tax gain on unrealized losses on investments (616) Income tax loss  Total reclassifications for the period $ 2,729 Total, net of income taxes    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 allowances for doubtful accounts and chargeback provisions, allowance for loans receivables, recoverability of goodwill, intangible assets with indefinite useful lives and tax loss carryforwards, 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, fair value of investments, recognition of income taxes and contingencies and determination of the incremental borrowing rate at commencement date of lease operating agreements. Actual results could differ from those estimates. Recently Adopted Accounting Standards In February 2016, the FASB issued a new standard related to leases to increase transparency and comparability among organizations by requiring the recognition of right-of-use (ROU) assets and lease liabilities on the balance sheet. Most prominent among the changes in the standard is the recognition of ROU assets and lease liabilities by lessees for those leases classified as operating leases under current U.S. GAAP. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. Under the new standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The guidance permits the use of a modified retrospective approach, which requires an entity to recognize and measure leases existing at, or entered into after, the beginning of the earliest comparative period presented. Alternatively, the guidance permits a “Comparatives Under 840 Option” that changes the date of initial application to the beginning of the period of adoption. The Company elected the Comparatives Under 840 Option in which it must apply ASC 840 to all comparative periods, including disclosures, and there were no effects of applying ASC 842 as a cumulative-effect adjustment to retained earnings as of January 1, 2019. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allows to carryforward the historical lease classification. In addition, the Company elected certain practical expedients and accounting policies including the lessee practical expedient to not separate lease components. The Company also made an accounting policy election to keep leases with an initial term of 12 months or less off of the balance sheet. The Company recognizes those lease payments in the Consolidated Statements of Income on a straight-line basis over the lease term. The standard had a material impact on the Company’s consolidated balance sheets. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases, while the accounting for existing finance leases remains substantially unchanged. Recently issued accounting pronouncements not yet adopted 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 its 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, 2019. The Company is assessing the effects that the adoption of this accounting pronouncement may have on its financial statements. On August 28, 2018 the FASB issued the ASU 2018-13 “Fair value measurement (Topic 820): Disclosure Framework—Changes to the disclosure requirements for fair value measurement”. This update modified the disclosure requirements on fair value measurements based on concepts in the FASB Concepts Statement. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of this standard is not expected to have a material impact on the Company’s financial statements. On August 29, 2018 the FASB issued the ASU 2018-15 “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40)”. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The amendments require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The amendments in this update are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company is assessing the effects that the adoption of this accounting pronouncement may have on its financial statements.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	3 Months Ended
	Mar. 31, 2019
Net Income (Loss) Per Share [Abstract]
Net Income (Loss) Per Share	3. Net income (loss) per share Basic earnings per share for the Company’s common stock is computed by dividing, net income (loss) available to common shareholders attributable to common stock for the period by the weighted average number of common shares outstanding during the period. On June 30, 2014, the Company issued $330 million of 2.25% Convertible Senior Notes due 2019 and on August 24, 2018 and August 31, 2018 the Company issued an aggregate principal amount of $880 million of 2.00% Convertible Senior Notes due 2028 (see Note 9 to these interim condensed consolidated financial statements). Additionally, on March 29, 2019 the Company issued Preferred Stock (see Note 2 and Note 10 to these interim condensed consolidated financial statements). The conversion of these notes and the Preferred Stock are included in the calculation for diluted earnings per share utilizing the “if converted” method. Accordingly, conversion of these Notes and the redeemable convertible preferred stock are not assumed for purposes of computing diluted earnings per share if the effect is antidilutive. The denominator for diluted net income (loss) per share for the three-month periods ended March 31, 2019 and 2018 does not include any effect from the 2019 Notes Capped Call Transactions (as defined in Note 9) or the 2028 Notes Capped Call Transactions because it would be antidilutive. In the event of conversion of any or all of the 2019 Notes or the 2028 Notes, the shares that would be delivered to the Company under the Capped Call Transactions (as defined in Note 9) are designed to partially neutralize the dilutive effect of the shares that the Company would issue under the Notes. S ee Note 9 to these interim condensed consolidated financial statements and Note 17 of the financial statements as of December 31, 2018 on Form 10-K for more details. For the three-month periods ended March 31, 2019 and 2018 , the effects of the Capped Call Transactions would have been antidilutive and, as a consequence, they were not factored into the calculation of diluted earnings per share. Net income (loss) per share of common stock is as follows for the three-month periods ended March 31, 2019 and 2018:         Three Months Ended March 2019,  2019 2018  (In thousands)  Basic Diluted Basic Diluted  Net income (loss) per common share $ 0.13 $ 0.13 $ (0.29) $ (0.29)   Numerator:  Net income (loss) $ 11,864 $ 11,864 $ (12,919) $ (12,919)  Amortization of redeemable convertible preferred stock (5,841) (5,841) — —  Net income (loss) corresponding to common stock $ 6,023 $ 6,023 $ (12,919) $ (12,919)   Denominator:  Weighted average of common stock outstanding for Basic earnings per share 45,980,255 — 44,157,364 —  Adjusted weighted average of common stock outstanding for Diluted earnings per share — 45,980,255 — 44,157,364  

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets [Abstract]
Goodwill and Intangible Assets	4. G oodwill and intangible assets The composition of goodwill and intangible assets is as follows:     March 31, December 31,  2019 2018  (In thousands)  Goodwill $ 89,827 $ 88,883  Intangible assets with indefinite lives  - Trademarks 8,733 8,584  Amortizable intangible assets  - Licenses and others 5,445 5,406  - Non-compete agreement 2,786 3,028  - Customer list 14,844 14,897  - Trademarks 4,676 4,565  Total intangible assets $ 36,484 $ 36,480  Accumulated amortization (18,801) (17,899)  Total intangible assets, net $ 17,683 $ 18,581   Goodwill The changes in the carrying amount of goodwill for the three -month period ended March 31, 2019 and the year ended December 31, 2018 are as follows:    Period ended March 31, 2019  Brazil Argentina Mexico Chile Colombia Other Countries Total  (In thousands)  Balance, beginning of the period $ 30,069 $ 6,946 $ 31,340 $ 16,014 $ 3,339 $ 1,175 $ 88,883  Purchase price allocation adjustments — 45 — — — — 45  Effect of exchange rates changes (145) — 567 392 76 9 899  Balance, end of the period $ 29,924 $ 6,991 $ 31,907 $ 16,406 $ 3,415 $ 1,184 $ 89,827       Year ended December 31, 2018  Brazil Argentina Mexico Chile Colombia Other Countries Total  (In thousands)  Balance, beginning of the year $ 32,492 $ 5,761 $ 30,396 $ 18,805 $ 3,632 $ 1,193 $ 92,279  - Business acquisitions 3,110 3,175 543 61 80 53 7,022  - Effect of exchange rates changes (5,533) (1,990) 401 (2,852) (373) (71) (10,418)  Balance, end of the year $ 30,069 $ 6,946 $ 31,340 $ 16,014 $ 3,339 $ 1,175 $ 88,883  Intangible assets with definite useful life Intangible assets with definite useful life are comprised of customer lists, non-compete and non-solicitation agreements, acquired software licenses, and other acquired intangible assets including developed technologies and trademarks. Aggregate amortization expense for intangible assets totaled $1,230 thousands and $1,672 thousands for the three-month periods ended March 31, 2019 and 2018, respectively. The following table summarizes the remaining amortization of intangible assets (in thousands of U.S. dollars) with definite useful life as of March 31, 2019 :    For year ended 12/31/2019 $ 2,720  For year ended 12/31/2020 2,383  For year ended 12/31/2021 1,815  For year ended 12/31/2022 1,083  Thereafter 949  $ 8,950  

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2019
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 in accordance with the criteria used for evaluation of the Company’s performance as determined by Management. The Company’s segments include Brazil, Argentina, Mexico and other countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Honduras, Nicaragua, El Salvador, Bolivia, Guatemala, Panama, Paraguay, Peru, Uruguay and the United States of America). Direct contribution consists of net revenues from external customers less direct costs, which include costs of net revenues, product 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 and third-party fees. All corporate related costs have been excluded from the Company’s direct contribution. Expenses over which segment managers do not currently have discretionary control, such as certain technology and general and administrative costs are monitored by Management through shared cost centers and are not evaluated in the measurement of segment performance. The following tables summarize the financial performance of the Company’s reporting segments:     Three Months Ended March 31, 2019  Brazil Argentina Mexico Other Countries Total  (In thousands)  Net revenues $ 302,384 $ 93,776 $ 54,561 $ 23,049 $ 473,770  Direct costs (225,343) (67,492) (65,585) (20,447) (378,867)  Direct contribution 77,041 26,284 (11,024) 2,602 94,903   Operating expenses and indirect costs of net revenues (84,764)  Income from operations 10,139   Other income (expenses):  Interest income and other financial gains 24,444  Interest expense and other financial losses (15,559)  Foreign currency losses (3,669)  Net income before income tax expense $ 15,355     Three Months Ended March 31, 2018  Brazil Argentina Mexico Other Countries Total  (In thousands)  Net revenues $ 184,155 $ 101,939 $ 17,065 $ 17,817 $ 320,976  Direct costs (176,980) (57,295) (26,323) (17,272) (277,870)  Direct contribution 7,175 44,644 (9,258) 545 43,106   Operating expenses and indirect costs of net revenues (72,525)  Loss from operations (29,419)   Other income (expenses):  Interest income and other financial gains 9,195  Interest expense and other financial losses (10,734)  Foreign currency gains 5,601  Net loss before income tax gains $ (25,357)   The following table summarizes the allocation of property and equipment, net based on geography:    March 31, December 31,  2019 2018  (In thousands)  US property and equipment, net $ 2,313 $ 2,959  Other countries  Argentina 74,070 58,358  Brazil 83,717 78,227  Mexico 19,372 16,497  Other countries 9,484 9,573  $ 186,643 $ 162,655  Total property and equipment, net $ 188,956 $ 165,614   The following table summarizes the allocation of the goodwill and intangible assets based on geography:    March 31, December 31,  2019 2018  (In thousands)  US intangible assets $ 33 $ 46  Other countries goodwill and intangible assets  Argentina 8,607 9,050  Brazil 31,746 32,955  Mexico 36,222 35,993  Chile 25,678 24,638  Other countries 5,224 4,782  $ 107,477 $ 107,418  Total goodwill and intangible assets $ 107,510 $ 107,464  Consolidated net revenues by similar products and services for the three-month periods ended March 31, 2019 and 2018 were as follows:    Three months Ended March 31,   Consolidated Net Revenues 2019 2018  (In thousands)  Enhanced Marketplace (*) $ 253,035 $ 140,695  Non-marketplace (**) (***) 220,735 180,281  Total $ 473,770 $ 320,976    (*) Includes Final Value Fees and Shipping fees. (**) Includes, among other things, Ad Sales, Classified Fees, Payment Fees and other ancillary services. (***) Includes $186,965 thousands and $144,763 thousands of Payment Fees for the three-month periods ended March 31, 2019 and 2018, respectively.

Fair Value Measurement of Asset

Fair Value Measurement of Assets and Liabilities	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018:      Quoted Prices in Quoted Prices in  Balances as of active markets for Significant other Unobservable Balances as of active markets for Significant other Unobservable  March 31, identical Assets observable inputs inputs December 31, identical Assets observable inputs inputs  Description 2019 (Level 1) (Level 2) (Level 3) 2018 (Level 1) (Level 2) (Level 3)  (In thousands)  Assets  Cash and Cash Equivalents:  Money Market Funds $ 239,269 $ 239,269 $ — $ — $ 179,252 $ 179,252 $ — $ —  Restricted Cash and cash equivalents:  Money Market Funds 9,556 9,556 — 24,363 24,363 — —  Investments:  Sovereign Debt Securities (Central Bank of Brazil mandatory guarantee) 238,029 238,029 — — 284,317 284,317 — —  Sovereign Debt Securities 1,344,778 1,344,778 — — 429,602 429,602 — —  Corporate Debt Securities 255 245 10 — 262 237 25 —  Total Financial Assets $ 1,831,887 $ 1,831,877 $ 10 $ — $ 917,796 $ 917,771 $ 25 $ —  Liabilities:  Contingent considerations $ 2,170 $ — $ — $ 2,170 $ 2,097 $ — $ — $ 2,097  Long-term retention plan 53,422 — 53,422 — 42,625 — 42,625 —  Total Financial Liabilities $ 55,592 $ — $ 53,422 $ 2,170 $ 44,722 $ — $ 42,625 $ 2,097  As of March 31, 2019 and December 31, 2018, 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 March 31, 2019 and December 31, 2018 , the Company ’s liabilities were valued at fair value using Level 2 inputs and level 3 inputs (valuations based on unobservable inputs reflecting Company 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. During the three -month period ended March 31, 2019 , the Company assumed contingent considerations for an amount of $2,170 thousands. The unrealized net gains or losses 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 March 31, 2019 and December 31, 2018, the carrying value of the Company’s financial assets and liabilities measured at amortized cost approximated their fair value mainly because of their short-term maturity. These assets and liabilities included cash, cash equivalents, restricted cash and cash equivalents and short-term investments (excluding money markets funds and corporate debt security), accounts receivable, credit cards receivable, loans receivable, funds payable to customers, other assets, accounts payable, 2019 Notes (liability component), salaries and social security payable (excluding variable LTRP), taxes payable, provisions and other liabilities (excluding contingent considerations) . The estimated fair value of the 2028 Notes (liability component), which is based on Level 2 inputs, is $593,905 thousands and was determined based on market interest rates. The rest of the loans payable and other financial liabilities and operating lease liabilities approximate their fair value because the effective 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 March 31, 2019 and December 31, 2018:     Balances as of Significant other Balances as of Significant other  March 31, observable inputs December 31, observable inputs  2019 (Level 2) 2018 (Level 2)  (In thousands)  Assets  Time Deposits $ 337,637 $ 337,637 $ 20,056 $ 20,056  Accounts receivable 34,524 34,524 35,153 35,153  Credit Cards receivable 308,468 308,468 360,298 360,298  Loans receivable, net 134,640 134,640 95,778 95,778  Other assets 105,622 105,622 102,753 102,753  Total Assets $ 920,891 $ 920,891 $ 614,038 $ 614,038  Liabilities  Accounts payable and accrued expenses $ 246,767 $ 246,767 $ 266,759 $ 266,759  Funds payable to customers 680,746 680,746 640,954 640,954  Salaries and social security payable 54,528 54,528 40,942 40,942  Taxes payable 34,414 34,414 31,058 31,058  Operating lease liabilities 155,632 155,632 — —  Loans payable and other financial liabilities (*) 743,223 784,182 735,177 735,177  Other liabilities 67,506 67,506 51,509 51,509  Total Liabilities $ 1,982,816 $ 2,023,775 $ 1,766,399 $ 1,766,399     (*) The fair value of the 2019 Notes and the 2028 Notes (including the equity component) are disclosed in Note 9.  As of March 31, 2019 and December 31, 2018 , the Company held no direct investments in auction rate securities and does not have any non-financial assets or liabilities measured at fair value.  As of March 31, 2019 and December 31, 2018 , the fair value of money market funds, short and long-term investments classified as available for sale securities are as follows:     March 31, 2019  Cost Gross Unrealized Gains (1) Gross Unrealized Losses (1) Financial Gains Estimated Fair Value   (In thousands)  Cash and cash equivalents  Money Market Funds $ 239,269 $ — $ — $ — $ 239,269  Total Cash and cash equivalents $ 239,269 $ — $ — $ — $ 239,269   Restricted cash and cash equivalents  Money Market Funds $ 9,556 $ — $ — $ — $ 9,556  Total Restricted cash and cash equivalents $ 9,556 $ — $ — $ — $ 9,556   Short-term investments  Sovereign Debt Securities (Central Bank of Brazil mandatory guarantee) (*) $ 236,309 $ — $ — $ 1,720 $ 238,029  Sovereign Debt Securities (**) 1,071,309 98 — 1,327 1,072,734  Corporate Debt Securities 57 — — — 57  Total Short-term investments $ 1,307,675 $ 98 $ — $ 3,047 $ 1,310,820   Long-term investments  Sovereign Debt Securities $ 270,206 $ 1,837 $ — $ 1 $ 272,044  Corporate Debt Securities 197 2 (1) — 198  Total Long-term investments $ 270,403 $ 1,839 $ (1) $ 1 $ 272,242    Total $ 1,826,903 $ 1,937 $ (1) $ 3,048 $ 1,831,887  (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 March 31, 2019 and December 31, 2018. (*) Brazilian government bonds measured at fair value with impact on the consolidated statement of income for the application of the fair value option. (See Note 2 – Investments fair value option) (**) Includes $806,087 thousands of U.S treasury notes measured at fair value with impact on the consolidated statement of income for the application of the fair value option. (See Note 2 – Investments fair value option)    December 31, 2018  Cost Gross Unrealized Gains (1) Gross Unrealized Losses (1) Estimated Fair Value   (In thousands)  Cash and cash equivalents  Money Market Funds $ 179,252 $ — $ — $ 179,252  Total Cash and cash equivalents $ 179,252 $ — $ — $ 179,252   Restricted Cash and cash equivalents  Money Market Funds $ 24,363 $ — $ — $ 24,363  Total Restricted Cash and cash equivalents $ 24,363 $ — $ — $ 24,363   Short-term investments  Sovereign Debt Securities (Central Bank of Brazil mandatory guarantee) $ 282,752 $ 1,565 $ — $ 284,317  Sovereign Debt Securities 156,910 237 — 157,147  Corporate Debt Securities 21 — — 21  Total Short-term investments $ 439,683 $ 1,802 $ — $ 441,485   Long-term investments  Sovereign Debt Securities $ 271,024 $ 1,431 $ — $ 272,455  Corporate Debt Securities 244 — (3) 241  Total Long-term investments $ 271,268 $ 1,431 $ (3) $ 272,696   Total $ 914,566 $ 3,233 $ (3) $ 917,796  (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 March 31, 2019 and December 31, 2018.   The material portion of the Sovereign Debt Securities consists of U.S. Treasury Notes, which carry no significant risk.  Sovereign Debt Securities (Central Bank of Brazil mandatory guarantee) On November 1, 2018, the Company obtained the approval from the Central Bank of Brazil to operate as an authorized payment institution. With the authorization, MercadoPago in Brazil is subject to the supervision of the Central Bank of Brazil and must fully comply with all the obligations established in the current regulation. Among other obligations, the regulation requires authorized payment institutions to hold the balance available in the payment institution account in either in a specific account of Central Bank of Brazil that does not pay interest or in Brazilian federal government bonds registered with the “Sistema Especial de Liquidacao e Custodia”. The percentage of the electronic currency that must be deposited was 100% and 80% as of March 31, 2019 and December 31, 2018, respectively. As of March 31, 2019 and December 31, 2018 and in accordance with the regulation, the Company held $238,029 thousands and $284,317 thousands deposited in Brazilian federal government bonds, respectively, as mandatory guarantee.  As of March 31, 2019 , the estimated fair values (in thousands of U.S. dollars) of money market funds and short-term and long-term investments classified by their effective maturities are as follows:     One year or less 1,559,645  One year to two years 272,020  Two years to three years 133  Three years to four years 43  Four years to five years 46  Total $ 1,831,887 

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies 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. Proceeding-related liabilities are based on developments to date and historical information related to actions filed against the Company. As of March 31, 2019 , the Company had accounted for estimated liabilities involving proceeding-related contingencies and other estimated contingencies of $4,782 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 March 31, 2019 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 estimated aggregate amount up to $12,561 thousands. No loss amounts have been accrued for such reasonably possible legal actions. 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. Buyer protection program The Company provides consumers with a buyer protection program (“BPP”) for all transactions completed through the Company’s online payment solution (“Mercado Pago”). This program is designed to protect buyers in the Marketplace from losses due primarily to fraud or counterparty non-performance. The Company’s BPP provides protection to consumers by reimbursing them for the total value of a purchased item and the value of any shipping service paid if it does not arrive or does not match the seller’s description. The Company is entitled to recover from the third-party carrier companies performing the shipping service certain amounts paid under the BPP. Furthermore, in some specific circumstances (i.e. Black Friday, Hot Sale), the Company enters into insurance contracts with third-party insurance companies in order to cover contingencies that may arise from the BPP. The maximum potential exposure under this program is estimated to be the volume of payments on the Marketplace, for which claims may be made under the terms and conditions of the Company’s BPP. Based on historical losses to date, the Company does not believe that the maximum potential exposure is representative of the actual potential exposure. The Company records a liability with respect to losses under this program when they are probable and the amount can be reasonably estimated. As of March 31, 2019 and December 31, 2018, Management’s estimate of the maximum potential exposure related to the Company’s buyer protection program is $993,500 thousands and $988,664 thousands, respectively, for which the Company recorded an allowance of $4,670 thousands and $4,146 thousands , respectively. Loans payable and other financial liabilities During the last quarter of 2018, the Company, through its Chilean subsidiary, obtained two lines of credit from Scotiabank Chile denominated in Chilean Pesos, to be applied to working capital needs. As of March 31, 2019, the amount outstanding under these lines of credit is $4,424 thousands and $2,949 thousands with maturity in April 2019 (renewed upon maturity) and both bear interest at a fixed rate of 3.72% . In addition, the Chilean subsidiary, obtained two lines of credit from Banco de Chile denominated in Chilean pesos, to be applied to working capital needs. As of March 31, 2019, the amount outstanding under these lines of credit is $8,869 thousands and $7,376 thousands with maturity in April 2019 (renewed upon maturity) and both bear interest at a fixed rate of 3.60% per annum. Lastly, the Chilean subsidiary obtained an unsecured line of credit from Banco de Chile denominated in local currency for an amount of $1,494 thousands which bears interest at a fixed rate of 3.65% per annum. During the first quarter of 2019, the Company, through its Argentine subsidiary obtained two lines of credit from Citibank, N.A, denominated in local currency, to be applied to working capital needs. As of March 31, 2019, the amount outstanding under these lines of credit is $12,066 thousands and $12,053 thousands with maturity in April 2019 and bears interest at a fixed rate of 37.75% and 40.50% per annum, respectively. These lines of credit were fully paid off upon maturity. In addition, the Argentine subsidiary obtained an unsecured line of credit denominated in local currency for an amount of $3,121 thousands which bears interest at a fixed rate of 55.50% per annum. This line of credit was fully paid off as of May 3, 2019. As of March 31, 2019 the Company, through its Mexican subsidiary, had three finance leases contracts related to facilities for its fulfillment center. The outstanding amount is $5,458 thousands which bears interest at a fixed rate of 6.39% per annum with maturity within the next 5.25 years, $1,089 thousands which bears interest at a fixed rate of 9.00% per annum with maturity within the next 4.0 years and $177 thousands which bears interest at a fixed rate of 9.90% per annum with maturity within the next year. During the first quarter of 2019, the Company, through its Uruguayan subsidiary obtained a line of credit from Citibank, N.A, denominated in local currency, to be applied to working capital needs. As of March 31, 2019, the amount outstanding under this line of credit is $898 thousands with maturity in April, 2019 and bears interest at a fixed rate of 9.11% per annum. In addition, the Uruguayan subsidiary obtained an unsecured line of credit denominated in local currency for an amount of $10,195 thousands which bears interest at a fixed rate of 9.11% per annum. See Notes 9 and 11 to these interim condensed consolidated financial statements for details regarding the Company’s 2019 Notes and 2028 Notes and collateralized debt securitization transactions, respectively. 

Long Term Retention Plan

Long Term Retention Plan	3 Months Ended
	Mar. 31, 2019
Long Term Retention Plan [Abstract]
Long Term Retention Plan	8. Long term retention plan (“LTRP”)  The following table summarizes the 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018 and 2019 long term retention plan accrued compensation expense for the three-month periods ended March 31, 2019 and 2018, which are payable in cash according to the decisions made by the Board of Directors:       Three Months Ended March 31,  2019 2018  (In thousands)  LTRP 2010 — 53  LTRP 2011 55 663  LTRP 2012 559 1,125  LTRP 2013 193 1,749  LTRP 2014 1,220 2,084  LTRP 2015 1,982 2,815  LTRP 2016 3,038 3,908  LTRP 2017 2,813 3,340  LTRP 2018 1,455 —  LTRP 2019 2,126 —  Total LTRP $ 13,441 $ 15,737   

Convertible Senior Notes

Convertible Senior Notes	3 Months Ended
	Mar. 31, 2019
Convertible Senior Notes [Abstract]
Convertible Senior Notes	 9. Convertible Senior Notes  2.00% Convertible Senior Notes Due 2028 On August 24, 2018, the Company issued $800,000 thousands of 2.00% Convertible Senior Notes due 2028 and issued an additional $80,000 thousand of notes on August 31, 2018 pursuant to the partial exercise of the initial purchasers’ option to purchase such additional notes, for an aggregate principal amount of $880 ,000 thousands of 2.00% Convertible Senior Notes due 2028 (collectively, the “2028 Notes”). The 2028 Notes are unsecured, unsubordinated obligations of the Company, which pay interest in cash semi-annually, on February 15 and August 15 of each year, at a rate of 2.00% per annum. The 2028 Notes will mature on August 15, 2028 unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date. The 2028 Notes may be converted, under specific conditions, based on an initial conversion rate of 2.2553 shares of common stock per $1,000 principal amount of the 2028 Notes (equivalent to an initial conversion price of $443.40 per share of common stock), subject to adjustment as described in the indenture governing the 2028 Notes. For additional information regarding the 2028 Notes please refer to Note 2 and Note 17 to the audited consolidated financial statements for the year ended December 31, 2018, contained in the Company’s Annual Report on Form 10-K filed with the SEC. In connection with the issuance of the 2028 Notes, the Company paid $91,784 thousands and $11,472 thousands (including transaction expenses) in August 2018 and November 2018, respectively, to enter into the 2028 Notes Capped Call Transactions with certain financial institutions. The 2028 Notes Capped Call Transactions are expected generally to reduce the potential dilution upon conversion of the 2028 Notes in the event that the market price of the Company’s common stock is greater than the strike price of the 2028 Notes Capped Call Transactions. The cost of the 2028 Notes Capped Call Transactions is included as a net reduction to additional paid-in capital in the stockholders’ equity section of the consolidated balance sheets. The total estimated fair value of the 2028 Notes was $1,181,391 thousands and $787,266 thousands as of March 31, 2019 and December 31, 2018, respectively. The fair value was determined based on the closing trading price per $100 principal amount of the 2028 Notes as of the last day of trading for the period. The Company considered the fair value of the 2028 Notes as of March 31, 2019 and December 31, 2018 to be a Level 2 measurement. The fair value of the 2028 Notes is primarily affected by the trading price of our common stock and market interest rates. Based on the $507.7 closing price of the Company’s common stock on March 31, 2019 , the if-converted value of the 2028 Notes exceeded their principal amount by $127,673 thousands. The following table presents the carrying amounts of the liability and equity components related to the 2028 Notes as of March 31, 2019 :    March 31, 2019 December 31, 2018  (In thousands)  Amount of the equity component (1) $ 327,305 $ 327,305   2.00% Convertible Senior Notes due 2028 $ 880,000 $ 880,000  Unamortized debt discount (2) (319,466) (325,783)  Unamortized transaction costs related to the debt component (9,837) (9,958)  Contractual coupon interest accrual 10,609 5,867  Contractual coupon interest payment (8,360) —  Net carrying amount $ 552,946 $ 550,126   (1) Net of $6,163 thousands of transaction costs related to the equity component of the 2028 Notes. (2) As of March 31, 2019 , the remaining period over which the unamortized debt discount will be amortized is 9.5 years.  The following table presents the interest expense for the contractual interest, the accretion of debt discount and the amortization of debt issuance costs:    Three month periods ended March 31,  2019  (In thousands)  Contractual coupon interest expense $ 4,742  Amortization of debt discount 6,317  Amortization of debt issuance costs 121  Total interest expense related to the 2028 Notes $ 11,180    2.25% Convertible Senior Notes Due 2019 On June 30, 2014, the Company issued $330,000 thousands of 2.25% Convertible Senior Notes due 2019 (the “2019 Notes”). The 2019 Notes are unsecured, unsubordinated obligations of the Company, which pay interest in cash semi-annually, on January 1 and July 1, at a rate of 2.25% per annum. The 2019 Notes will mature on July 1, 2019 unless earlier repurchased or converted in accordance with their terms prior to such date. The 2019 Notes may be converted, under specific conditions, based on an initial conversion rate of 7.9353 shares of common stock per $1,000 principal amount of the 2019 Notes (equivalent to an initial conversion price of $126.02 per share of common stock), subject to adjustment as described in the indenture governing the 2019 Notes. For additional information regarding the 2019 Notes please refer to Note 2 and Note 17 to the audited consolidated financial statements for the year ended December 31, 2018, contained in the Company’s Annual Report on Form 10-K filed with the SEC. In connection with the issuance of the 2019 Notes, the Company paid $19,668 thousands, $67,308 thousands and $45,692 thousands (including transaction expenses) in June 2014, September 2017 and March 2018, respectively, to enter into capped call transactions with respect to shares of the common stock (the “2019 Notes Capped Call Transactions” and together with the 2028 Notes Capped Call Transactions, the “Capped Call Transactions”), with certain financial institutions. The 2019 Notes Capped Call Transactions are expected generally to reduce the potential dilution upon conversion of the 2019 Notes in the event that the market price of the common stock is greater than the strike price of the 2019 Notes Capped Call Transactions. The cost of the 2019 Notes Capped Call Transactions is included as a net reduction to additional paid-in capital in the stockholders’ equity section of the consolidated balance sheets. On August 24, 2018, the Company used a portion of the net proceeds from the 2028 Notes to repurchase or exchange and retire $263,724 thousands principal amount of its outstanding 2019 Notes. The consideration paid included $348,123 thousands in cash and 1,044,298 shares of the Company’s common stock. Additionally, the Company entered into agreements with certain financial institutions who were counterparties to the existing 2019 Notes Capped Call Transactions entered into in June 2014 and September 2017 to terminate a portion of those transactions, in each case, in a notional amount corresponding to the amount of 2019 Notes repurchased or exchanged and retired. In connection with the termination of existing 2019 Capped Call Transactions and the related unwinding of the existing hedge position, the Company received from certain financial institutions the amount of $121,703 thousands and $14,405 thousands in August 2018 and November 2018, respectively . During the period from October 1, 2016 through March 31, 2019 , 291 Notes were converted for a total amount of $291 thousands. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. The intention of the Company is to share-settle the excess conversion value due upon conversion of the 2019 Notes. From April 1, 2019 to the date of issuance of these interim condensed consolidated financial statements, additional conversion requests for 2 Notes were made. The total estimated fair value of the 2019 Notes was $264,992 thousands and $150,572 thousands as of March 31, 2019 and December 31, 2018, respectively. The fair value was determined based on the closing trading price per $100 principal amount of the 2019 Notes as of the last day of trading for the period. The Company considered the fair value of the 2019 Notes as of March 31, 2019 and December 31, 2018 to be a Level 2 measurement. The fair value of the 2019 Notes is primarily affected by the trading price of our common stock and market interest rates. Based on the $507.7 closing price of the Company’s common stock on March 31, 2019 , the if-converted value of the 2019 Notes exceeded their principal amount by $199,868 thousands. The following table presents the carrying amounts of the liability and equity components related to the 2019 Notes as of March 31, 2019 and December 31, 2018:     March 31, 2019 December 31, 2018  (In thousands)  Amount of the equity component (1) $ 9,196 $ 9,196   2.25% Convertible Senior Notes due 2019 $ 65,985 $ 65,987  Unamortized debt discount (2) (532) (1,063)  Unamortized transaction costs related to the debt component (88) (176)  Contractual coupon interest accrual 373 5,447  Contractual coupon interest payment — (5,447)  Net carrying amount $ 65,738 $ 64,748  (1) Net of $236 thousands of transaction costs related to the equity component of the 2019 Notes. (2) As of March 31, 2019 , the remaining period over which the unamortized debt discount will be amortized is 0.25 years.   The following table presents the interest expense for the contractual interest, the accretion of debt discount and the amortization of debt issuance costs:     Three month periods ended March 31,  2019 2018   (In thousands) (In thousands)  Contractual coupon interest expense $ 373 $ 1,856  Amortization of debt discount 531 2,508  Amortization of debt issuance costs 88 399  Total interest expense related to the 2019 Notes $ 992 $ 4,763  

Equity Offerings

Equity Offerings	3 Months Ended
	Mar. 31, 2019
Equity Offerings [Abstract]
Equity Offerings	10. Equity Offerings  On March 15, 2019, the Company closed a public equity offering of approximately $1,150,000 thousands of common stock at a public offering price of $480 per share (the “Offering”). Pursuant to the Offering, the Company issued 2,395,834 shares of common stock, par value $0.001 per share (the “Common Stock”) which includes the exercise in full of the underwriters’ option to purchase $150 million of additional shares of common stock.  In addition, on March 15, 2019 the Company closed its $750,000 thousands concurrent private placement of common stock to PayPal, Inc (“PayPal”). PayPal purchased 1,719,790 shares of Common S tock at a price of $436.10 per share.  On March 29, 2019, in a separate private placement, an affiliate of Dragoneer Investment Group purchased 100,000 shares of perpetual convertible preferred stock designated as Series A Perpetual Preferred Stock, par value $0.001 per share of the Company for $100,000 thousands in the aggregate. The Preferred Stock is a class of equity security that ranks senior to the Common Stock with respect to dividend rights or rights upon liquidation.  Each share of Preferred Stock has a stated value of $1,000 , is entitled to a cash dividend of 4% per annum, and is convertible into shares of the Company’s Common Stock at an initial conversion price of $479.71 (subject to adjustment). The Company may require the conversion of any or all of the Preferred Stock beginning on March 29, 2023 if certain conditions set forth in the Certificate of Designation are met. The Company may redeem any or all of the Preferred Stock for cash, shares of its Common Stock or a combination thereof (at its election, subject to certain conditions) at any time beginning on March 29, 2026 for a percentage of the stated value of each share of Preferred Stock, plus any accrued and unpaid dividends at such time. On March 15, 2026, September 15, 2026 and March 15, 2027, the holders of the Preferred Stock shall have the right to redeem all of the outstanding shares of Preferred Stock for cash, shares of the Company’s Common Stock or a combination thereof (at the Company’s election, subject to certain conditions) to be determined by the formula set forth in the Certificate of Designation. Upon the occurrence of a change of control, the holders will have the right to redeem their shares of Preferred Stock for cash at a price set forth in the Certificate of Designation. The holders of the Preferred Stock have the right to vote on matters submitted to a vote of the holders of Common Stock on an as-converted basis unless required by applicable law.  In the aggregate, the Company raised funds in the amount of $1,965,188 thousands net of issuance costs paid in the amount of $34,812 thousands. 

Securitization Transactions

Securitization Transactions	3 Months Ended
	Mar. 31, 2019
Securitization Transactions [Abstract]
Securitization Transactions	11. Securitization Transactions The process of securitization consists of the issuance of securities collateralized by a pool of assets through a special purpose entity, often under a VIE. The Company securitizes financial assets associated with its loan receivables portfolio. The Company’s securitization transactions typically involve the legal transfer of financial assets to bankruptcy remote special purpose entities (“SPEs”) or the acquisition of loans receivable portfolios through SPEs. The Company generally retains economic interests in the collateralized securitization transactions, which are retained in the form of subordinated interests. For accounting purposes, the Company is precluded from recording the transfers of assets in securitization transactions as sales or is required to consolidate the SPE. The Company securitizes certain loan receivables through Brazilian and Argentine SPEs, formed to securitize loan receivables provided by the Company to its users or purchased from financial institutions that grant loans to the Company’s users through Mercado Pago. According to the SPE contracts, the Company has determined that it has both the power to direct the activities of the entity that most significantly impact the entity’s performance and the obligation to absorb losses or the right to receive benefits of the entity that could be significant because it retains the equity certificates of participation, and would therefore also be consolidated. When the Company controls the vehicle, it accounts the securitization transactions as if they were secured financing and therefore the assets, liabilities, and related results are consolidated in its financial statements. As of March 31, 2019 , the carrying value of the Brazilian collateralized debt was $46,687 thousands, composed of: 1) $15,568 thousands, which bears interest at a rate of Brazilian DI plus 3.5% per annum for a term of 36 months, due in June 2021 and 2) $31,119 thousands, which bears interest at a rate of Brazilian DI plus 3.25% per annum for a term of 30 months, due in May 2021. The carrying value of the Argentine collateralized debt was $7,582 thousands, composed of: 1) $5,593 thousands bearing interest at a variable rate equivalent to the BADLAR rate plus 200 basis points with a minimum 33% and a maximum 48% nominal rate per annum for a term of 8 months, due in October 2019 and 2) $1,989 thousands bearing interest at a variable rate equivalent to the BADLAR rate plus 200 basis points with a minimum 30% and a maximum 45% nominal rate per annum for a term of 12 months, due in July 2019. This secured debt is issued by the SPEs and includes collateralized securities used to fund MercadoCredito business. The third-party investors in the securitization transactions have legal recourse only to the assets securing the debt and do not have recourse to the Company. Additionally, the cash flows generated by the SPEs are restricted to the payment of amounts due to third-party investors, but the Company retains the right to residual cash flows. The assets and liabilities of the SPEs are included in the Company’s interim condensed consolidated financial statements as of March 31, 2019 as follows:       March 31, December 31,  2019 2018  Assets (in thousands) (in thousands)  Current assets:  Restricted cash and cash equivalents $ 10,375 $ 24,363  Loans receivable, net 70,757 51,471  Total current assets 81,132 75,834  Total assets $ 81,132 $ 75,834  Liabilities  Current liabilities:  Accounts payable and accrued expenses $ 103 $ 113  Loans payable and other financial liabilities 8,089 7,539  Total current liabilities 8,192 7,652  Non-current liabilities:  Loans payable and other financial liabilities 46,180 46,441  Total non-current liabilities 46,180 46,441  Total liabilities $ 54,372 $ 54,093  

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	12. Leases  The Company leases certain fulfillment centers and office space in the various countries in which it operates. The lease agreements do not contain any residual value guarantees or material restrictive covenants.  Supplemental balance sheet information related to leases was as follows (in thousands):      March 31,  2019  Operating Leases  Operating lease right-of-use assets $ 153,499   Operating lease liabilities $ 155,632   Finance Leases  Property and equipment, at cost 9,119  Accumulated depreciation (284)  Property and equipment, net $ 8,835   Loans payable and other financial liabilities $ 6,724   The following table summarizes the weighted average remaining lease term and the weighted average incremental borrowing rate for operating and finance leases at March 31, 2019:     Weighted average remaining lease term  Operating leases 9 Years  Finance leases 5 Years    Weighted average discount rate  Operating leases 10.44 %  Finance leases 6.91 %   The components of lease expense were as follows (in thousands):     March 31,  2019   Operating lease cost $ 6,477   Finance lease cost:  Depreciation of property and equipment 235  Interest on lease liabilities 152  Total finance lease cost $ 387   Supplemental cash flow information related to leases was as follows (in thousands) :     Three months ended  March 31, 2019  Cash paid for amounts included in the measurement of lease liabilities:  Operating cash flows from operating leases $ 4,124  Financing cash flows from finance leases 662    Right-of-use assets obtained in exchange for lease obligations:  Operating leases $ 35,926  Finance leases 177    The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted by the Company’s incremental borrowing rates to calculate the lease liabilities for the operating and finance leases (in thousands):     Year Ending March 31, Operating Leases Finance Leases  One year or less $ 26,507 $ 1,905  One year to two years 27,364 1,719  Two years to three years 26,469 1,719  Three years to four years 25,383 1,719  Four years to five years 23,826 1,399  Thereafter 112,956 359  Total lease payments $ 242,505 $ 8,820  Less imputed interest (86,873) (2,096)  Total $ 155,632 $ 6,724  

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
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, its wholly-owned subsidiaries and consolidated Variable Interest Entities (“VIE”). These interim condensed consolidated financial statements are stated in U.S. dollars, except where 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. Long-lived assets, intangible assets and goodwill located in the foreign jurisdictions totaled $294,120 thousands and $ 270,073 thousands as of March 31, 2019 and December 31, 2018, respectively. These interim condensed consolidated financial statements reflect the Company’s consolidated financial position as of March 31, 2019 and December 31, 2018. These financial statements include the Company’s consolidated statements of income, comprehensive income, equity and of cash flows for the three -month periods ended March 31, 2019 and 2018. 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, 2018, 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, comprehensive income, equity and cash flows for the periods presented herein are not necessarily indicative of results expected for any future period. For a more detailed discussion of the Company’s significant accounting policies, see note 2 to the financial statements in the Company’s Form 10-K for the year ended December 31, 2018. During the three -month period ended March 31, 2019 , there were no material updates made to the Company’s significant accounting policies, except for the adoption of ASC 842 and the investments fair value option as of January 1, 2019. S ee Note 2 to these interim condensed consolidated financial statements for more details.
Cash and Cash Equivalents	Cash and cash equivalents Cash, cash equivalents and restricted cash and cash equivalents of $1,306,261 thousands and $464,695 thousands as reported in the consolidated sta tements of cash flow as of March 31, 2019 and December 31, 2018, respectively, is the sum of $1,295,886 thousand s and $10,375 thousands as of March 31, 2019 and the sum of $440,332 thousands and $24,363 thousands as of December 31, 2018 shown in lines Cash and cash equivalents and Restricted cash and cash equivalents of the consolidated balance sheet.
Revenue Recognition	Revenue recognition Revenue recognition criteria for the services mentioned above are described in note 2 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.  Contract Balances  Timing of revenue recognition may differ from the timing of invoicing to customers. Receivables represent amounts invoiced and revenue recognized prior to invoicing when the Company has satisfied the performance obligation and has the unconditional right to payment. The allowance for doubtful accounts, loans receivable and chargebacks is estimated based upon our assessment of various factors including historical experience, the age of the accounts receivable balances, current economic conditions and other factors that may affect our customers’ ability to pay. The allowance for doubtful accounts, loans receivable and chargebacks was $26,783 thousands and $23,411 thousands as of March 31, 2019 and December 31, 2018, respectively.  Deferred revenue consists of fees received related to unsatisfied performance obligations at the end of the period in accordance with ASC 606. Due to the generally short-term duration of contracts, the majority of the performance obligations are satisfied in the following reporting period. Deferred revenue as of December 31, 2018 and 2017 was $5,918 thousands and $6,116 thousands, respectively, of which $3,188 thousands and $4,316 thousands were recognized as revenue during the three -month periods ended March 31, 2019 and 2018, respectively.  As of March 31, 2019 , total deferred revenue was $5,958 thousands, mainly due to fees related to listing and optional feature services billed and loyalty programs that are expected to be recognized as revenue in the coming months.
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities in the consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term, which is a non-monetary asset, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease, which is a monetary liability. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the leases do not provide an implicit rate, the Company uses incremental borrowing rates based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease prepaid payments made. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. According to transition guidance, finance leases that existed at December 31, 2018 are included in property and equipment, and loans payable and other financial liabilities in the consolidated balance sheets.
Foreign Currency Translation	Foreign currency translation All of the Company’s consolidated foreign operations use the local currency as their functional currency, except for Argentina, which has used the U.S. dollar as its functional currency since July 1, 2018, as described below. Accordingly, the foreign subsidiaries with local currency as functional currency 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 monthly 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 translation adjustment is recorded as a component of other comprehensive income (loss).  Argentine currency status  As of July 1, 2018, the Company transitioned its Argentinian operations to highly inflationary status in accordance with U.S. GAAP, and changed the functional currency for Argentine subsidiaries from Argentine Pesos to U.S. dollars, which is the functional currency of their immediate parent company.  Pursuant to the change in the functional currency, monetary assets and liabilities are remeasured at closing exchange rate, and non-monetary assets, revenues and expenses are remeasured at the rate prevailing on the date of the respective transaction. The effect of the re measurement is recognized as foreign currency (losses) gains.  Argentina is the second largest principal market of the Company’s business, as measured by net revenue (see Note 5 – Segment Reporting). The economic environment in Argentina has been volatile with weak economic conditions, devaluation of local currency, high interest rates, high level of inflation and a large public deficit which led Argentina to request financial assistance from the International Monetary Fund .
Income Tax	Income tax 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 carryforwards. 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 Argentine government issued a regulatory decree establishing the requirements to become a beneficiary of the new software development law, including a requirement to comply with annual incremental ratios related to exports of services and research and development. The new law will expire on December 31, 2019. The Argentine Industry Secretary approved the Company’s application for eligibility under the law for the Company’s Argentine subsidiary, Mercadolibre S.R.L. As a result, the Company’s Argentine subsidiary has been granted a tax holiday retroactive from September 18, 2014. A portion of the benefits obtained is a 60% relief of total income tax related to software development activities and a 70% relief of payroll taxes related to software development activities. As a result of the Company’s eligibility under the new law, it recorded an income tax benefit of $3,319 thousands and $7,299 thousands during the three-month periods ended March 31, 2019 and 2018, respectively. Aggregate per share effect of the Argentine tax holiday amounted to $0.07 and $0.17 for the three-month periods ended March 31, 2019 and 2018, respectively. Furthermore, the Company recorded a labor cost benefit of $2,396 thousands and $2,016 thousands during the three-month periods ended March 31, 2019 and 2018, respectively. Additionally, $400 thousands and $652 thousands were accrued to pay software development law audit fees during the first quarter of 2019 and 2018, respectively.
Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred Stock On March 29, 2019 an affiliate of Dragoneer Investment Group purchased, in a private placement, 100,000 shares of perpetual convertible preferred stock designated as Series A Preferred Stock, par value $0.001 per share (the “Preferred Stock”) , of the Company for $100 million in the aggregate. The Company determined that the shares of Preferred Stock should be classified as mezzanine equity upon their issuance since they are contingently redeemable as explained in Note 10. The Company also determined that there is a beneficial conversion feature of $5,841 thousands attributable to the Preferred Stock because the initial conversion price was lower than the fair value of MercadoLibre’s common stock on March 29, 2019 (the commitment date). The beneficial conversion feature was fully amortized at issuance, increasing the Preferred Stock’s carrying amount, since the shares of Preferred Stock are perpetual and the holders of Preferred Stock have the right to convert immediately. In addition, the Company determined that there were no embedded derivatives requiring bifurcation.
Fair Value Option Applied to Certain Financial Instruments	Fair value option applied to certain financial instruments Under ASC 825, U.S. GAAP provides an option to elect fair value with impact on the statement of income as an alternative measurement for certain financial instruments and other items on the balance sheet. The Company has elected to measure certain financial assets at fair value with impact on the statement of income from January 1, 2019 for several reasons including to avoid the mismatch generated by the recognition of certain linked instruments / transactions, separately, in consolidated statement of income and consolidated statement of other comprehensive income and to better reflect the financial model applied for selected instruments. The Company’s election of the fair value option applies to the: i) Brazilian federal government bonds and ii) U.S. treasury notes. As result of the election of the fair value option, the Company recognized gains in interest income and other financial gains of $3,048 thousands for the period ended March 31, 2019.
Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss The following table sets forth the Company’s accumulated other comprehensive loss as of March 31, 2019 and December 31, 2018:    March 31, December 31,  2019 2018  (In thousands)  Accumulated other comprehensive loss:  Foreign currency translation $ (394,600) $ (394,306)  Unrealized gains on investments 2,025 3,345  Estimated tax loss on unrealized gains on investments (13) (616)  $ (392,588) $ (391,577)  The following tables summarize the changes in accumulated balances of other comprehensive loss for the three -month period ended March 31, 2019 :      Unrealized Foreign Estimated tax  (Losses) Gains on Currency (expense)  Investments Translation benefit Total  (In thousands)  Balances as of December 31, 2018 $ 3,345 $ (394,306) $ (616) $ (391,577)  Other comprehensive income (loss) before reclassifications 2,025 (294) (13) 1,718  Amount of loss (gain) reclassified from accumulated other comprehensive loss (3,345) — 616 (2,729)  Net current period other comprehensive income (loss) (1,320) (294) 603 (1,011)  Ending balance $ 2,025 $ (394,600) $ (13) $ (392,588)       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 gains on investments $ 3,345 Interest income and other financial gains  Estimated tax gain on unrealized losses on investments (616) Income tax loss  Total reclassifications for the period $ 2,729 Total, net of income taxes 
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 allowances for doubtful accounts and chargeback provisions, allowance for loans receivables, recoverability of goodwill, intangible assets with indefinite useful lives and tax loss carryforwards, 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, fair value of investments, recognition of income taxes and contingencies and determination of the incremental borrowing rate at commencement date of lease operating agreements. Actual results could differ from those estimates.
Recently Adopted Accounting Standards & Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Standards In February 2016, the FASB issued a new standard related to leases to increase transparency and comparability among organizations by requiring the recognition of right-of-use (ROU) assets and lease liabilities on the balance sheet. Most prominent among the changes in the standard is the recognition of ROU assets and lease liabilities by lessees for those leases classified as operating leases under current U.S. GAAP. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. Under the new standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The guidance permits the use of a modified retrospective approach, which requires an entity to recognize and measure leases existing at, or entered into after, the beginning of the earliest comparative period presented. Alternatively, the guidance permits a “Comparatives Under 840 Option” that changes the date of initial application to the beginning of the period of adoption. The Company elected the Comparatives Under 840 Option in which it must apply ASC 840 to all comparative periods, including disclosures, and there were no effects of applying ASC 842 as a cumulative-effect adjustment to retained earnings as of January 1, 2019. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allows to carryforward the historical lease classification. In addition, the Company elected certain practical expedients and accounting policies including the lessee practical expedient to not separate lease components. The Company also made an accounting policy election to keep leases with an initial term of 12 months or less off of the balance sheet. The Company recognizes those lease payments in the Consolidated Statements of Income on a straight-line basis over the lease term. The standard had a material impact on the Company’s consolidated balance sheets. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases, while the accounting for existing finance leases remains substantially unchanged. Recently issued accounting pronouncements not yet adopted 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 its 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, 2019. The Company is assessing the effects that the adoption of this accounting pronouncement may have on its financial statements. On August 28, 2018 the FASB issued the ASU 2018-13 “Fair value measurement (Topic 820): Disclosure Framework—Changes to the disclosure requirements for fair value measurement”. This update modified the disclosure requirements on fair value measurements based on concepts in the FASB Concepts Statement. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of this standard is not expected to have a material impact on the Company’s financial statements. On August 29, 2018 the FASB issued the ASU 2018-15 “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40)”. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The amendments require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The amendments in this update are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company is assessing the effects that the adoption of this accounting pronouncement may have on its financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Summary of Significant Accounting Policies [Abstract]
Accumulated Other Comprehensive Loss	  March 31, December 31,  2019 2018  (In thousands)  Accumulated other comprehensive loss:  Foreign currency translation $ (394,600) $ (394,306)  Unrealized gains on investments 2,025 3,345  Estimated tax loss on unrealized gains on investments (13) (616)  $ (392,588) $ (391,577) 
Summary of Changes in Accumulated Balances of Other Comprehensive Loss	   Unrealized Foreign Estimated tax  (Losses) Gains on Currency (expense)  Investments Translation benefit Total  (In thousands)  Balances as of December 31, 2018 $ 3,345 $ (394,306) $ (616) $ (391,577)  Other comprehensive income (loss) before reclassifications 2,025 (294) (13) 1,718  Amount of loss (gain) reclassified from accumulated other comprehensive loss (3,345) — 616 (2,729)  Net current period other comprehensive income (loss) (1,320) (294) 603 (1,011)  Ending balance $ 2,025 $ (394,600) $ (13) $ (392,588) 
Reclassifications Out of Accumulated Other Comprehensive Loss	   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 gains on investments $ 3,345 Interest income and other financial gains  Estimated tax gain on unrealized losses on investments (616) Income tax loss  Total reclassifications for the period $ 2,729 Total, net of income taxes 

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Net Income (Loss) Per Share [Abstract]
Net (Loss) Income Per Share of Common Stock	  Three Months Ended March 2019,  2019 2018  (In thousands)  Basic Diluted Basic Diluted  Net income (loss) per common share $ 0.13 $ 0.13 $ (0.29) $ (0.29)   Numerator:  Net income (loss) $ 11,864 $ 11,864 $ (12,919) $ (12,919)  Amortization of redeemable convertible preferred stock (5,841) (5,841) — —  Net income (loss) corresponding to common stock $ 6,023 $ 6,023 $ (12,919) $ (12,919)   Denominator:  Weighted average of common stock outstanding for Basic earnings per share 45,980,255 — 44,157,364 —  Adjusted weighted average of common stock outstanding for Diluted earnings per share — 45,980,255 — 44,157,364 

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets [Abstract]
Composition of Goodwill and Intangible Assets	  March 31, December 31,  2019 2018  (In thousands)  Goodwill $ 89,827 $ 88,883  Intangible assets with indefinite lives  - Trademarks 8,733 8,584  Amortizable intangible assets  - Licenses and others 5,445 5,406  - Non-compete agreement 2,786 3,028  - Customer list 14,844 14,897  - Trademarks 4,676 4,565  Total intangible assets $ 36,484 $ 36,480  Accumulated amortization (18,801) (17,899)  Total intangible assets, net $ 17,683 $ 18,581 
Changes in Carrying Amount of Goodwill	    Period ended March 31, 2019  Brazil Argentina Mexico Chile Colombia Other Countries Total  (In thousands)  Balance, beginning of the period $ 30,069 $ 6,946 $ 31,340 $ 16,014 $ 3,339 $ 1,175 $ 88,883  Purchase price allocation adjustments — 45 — — — — 45  Effect of exchange rates changes (145) — 567 392 76 9 899  Balance, end of the period $ 29,924 $ 6,991 $ 31,907 $ 16,406 $ 3,415 $ 1,184 $ 89,827       Year ended December 31, 2018  Brazil Argentina Mexico Chile Colombia Other Countries Total  (In thousands)  Balance, beginning of the year $ 32,492 $ 5,761 $ 30,396 $ 18,805 $ 3,632 $ 1,193 $ 92,279  - Business acquisitions 3,110 3,175 543 61 80 53 7,022  - Effect of exchange rates changes (5,533) (1,990) 401 (2,852) (373) (71) (10,418)  Balance, end of the year $ 30,069 $ 6,946 $ 31,340 $ 16,014 $ 3,339 $ 1,175 $ 88,883 
Expected Intangible Asset Amortization Expense	  For year ended 12/31/2019 $ 2,720  For year ended 12/31/2020 2,383  For year ended 12/31/2021 1,815  For year ended 12/31/2022 1,083  Thereafter 949  $ 8,950  

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Financial Performance of Company's Reporting Segments	     Three Months Ended March 31, 2019  Brazil Argentina Mexico Other Countries Total  (In thousands)  Net revenues $ 302,384 $ 93,776 $ 54,561 $ 23,049 $ 473,770  Direct costs (225,343) (67,492) (65,585) (20,447) (378,867)  Direct contribution 77,041 26,284 (11,024) 2,602 94,903   Operating expenses and indirect costs of net revenues (84,764)  Income from operations 10,139   Other income (expenses):  Interest income and other financial gains 24,444  Interest expense and other financial losses (15,559)  Foreign currency losses (3,669)  Net income before income tax expense $ 15,355     Three Months Ended March 31, 2018  Brazil Argentina Mexico Other Countries Total  (In thousands)  Net revenues $ 184,155 $ 101,939 $ 17,065 $ 17,817 $ 320,976  Direct costs (176,980) (57,295) (26,323) (17,272) (277,870)  Direct contribution 7,175 44,644 (9,258) 545 43,106   Operating expenses and indirect costs of net revenues (72,525)  Loss from operations (29,419)   Other income (expenses):  Interest income and other financial gains 9,195  Interest expense and other financial losses (10,734)  Foreign currency gains 5,601  Net loss before income tax gains $ (25,357)  
Allocation of Long-Lived Tangible Assets Based on Geography	  March 31, December 31,  2019 2018  (In thousands)  US property and equipment, net $ 2,313 $ 2,959  Other countries  Argentina 74,070 58,358  Brazil 83,717 78,227  Mexico 19,372 16,497  Other countries 9,484 9,573  $ 186,643 $ 162,655  Total property and equipment, net $ 188,956 $ 165,614 
Allocation of Goodwill and Intangible Assets Based on Geography	  March 31, December 31,  2019 2018  (In thousands)  US intangible assets $ 33 $ 46  Other countries goodwill and intangible assets  Argentina 8,607 9,050  Brazil 31,746 32,955  Mexico 36,222 35,993  Chile 25,678 24,638  Other countries 5,224 4,782  $ 107,477 $ 107,418  Total goodwill and intangible assets $ 107,510 $ 107,464 
Consolidated Net Revenues by Similar Products and Services	    Three months Ended March 31,   Consolidated Net Revenues 2019 2018  (In thousands)  Enhanced Marketplace (*) $ 253,035 $ 140,695  Non-marketplace (**) (***) 220,735 180,281  Total $ 473,770 $ 320,976    (*) Includes Final Value Fees and Shipping fees. (**) Includes, among other things, Ad Sales, Classified Fees, Payment Fees and other ancillary services. (***) Includes $186,965 thousands and $144,763 thousands of Payment Fees for the three-month periods ended March 31, 2019 and 2018, respectively.

Fair Value Measurement of Ass_2

Fair Value Measurement of Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
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  March 31, identical Assets observable inputs inputs December 31, identical Assets observable inputs inputs  Description 2019 (Level 1) (Level 2) (Level 3) 2018 (Level 1) (Level 2) (Level 3)  (In thousands)  Assets  Cash and Cash Equivalents:  Money Market Funds $ 239,269 $ 239,269 $ — $ — $ 179,252 $ 179,252 $ — $ —  Restricted Cash and cash equivalents:  Money Market Funds 9,556 9,556 — 24,363 24,363 — —  Investments:  Sovereign Debt Securities (Central Bank of Brazil mandatory guarantee) 238,029 238,029 — — 284,317 284,317 — —  Sovereign Debt Securities 1,344,778 1,344,778 — — 429,602 429,602 — —  Corporate Debt Securities 255 245 10 — 262 237 25 —  Total Financial Assets $ 1,831,887 $ 1,831,877 $ 10 $ — $ 917,796 $ 917,771 $ 25 $ —  Liabilities:  Contingent considerations $ 2,170 $ — $ — $ 2,170 $ 2,097 $ — $ — $ 2,097  Long-term retention plan 53,422 — 53,422 — 42,625 — 42,625 —  Total Financial Liabilities $ 55,592 $ — $ 53,422 $ 2,170 $ 44,722 $ — $ 42,625 $ 2,097 
Fair Value of Financial Assets and Liabilities Measured at Amortized Cost	     Balances as of Significant other Balances as of Significant other  March 31, observable inputs December 31, observable inputs  2019 (Level 2) 2018 (Level 2)  (In thousands)  Assets  Time Deposits $ 337,637 $ 337,637 $ 20,056 $ 20,056  Accounts receivable 34,524 34,524 35,153 35,153  Credit Cards receivable 308,468 308,468 360,298 360,298  Loans receivable, net 134,640 134,640 95,778 95,778  Other assets 105,622 105,622 102,753 102,753  Total Assets $ 920,891 $ 920,891 $ 614,038 $ 614,038  Liabilities  Accounts payable and accrued expenses $ 246,767 $ 246,767 $ 266,759 $ 266,759  Funds payable to customers 680,746 680,746 640,954 640,954  Salaries and social security payable 54,528 54,528 40,942 40,942  Taxes payable 34,414 34,414 31,058 31,058  Operating lease liabilities 155,632 155,632 — —  Loans payable and other financial liabilities (*) 743,223 784,182 735,177 735,177  Other liabilities 67,506 67,506 51,509 51,509  Total Liabilities $ 1,982,816 $ 2,023,775 $ 1,766,399 $ 1,766,399     (*) The fair value of the 2019 Notes and the 2028 Notes (including the equity component) are disclosed in Note 9.
Fair Value of Money Market Funds, Short and Long-Term Investments Classified as Available for Sale Securities	     March 31, 2019  Cost Gross Unrealized Gains (1) Gross Unrealized Losses (1) Financial Gains Estimated Fair Value   (In thousands)  Cash and cash equivalents  Money Market Funds $ 239,269 $ — $ — $ — $ 239,269  Total Cash and cash equivalents $ 239,269 $ — $ — $ — $ 239,269   Restricted cash and cash equivalents  Money Market Funds $ 9,556 $ — $ — $ — $ 9,556  Total Restricted cash and cash equivalents $ 9,556 $ — $ — $ — $ 9,556   Short-term investments  Sovereign Debt Securities (Central Bank of Brazil mandatory guarantee) (*) $ 236,309 $ — $ — $ 1,720 $ 238,029  Sovereign Debt Securities (**) 1,071,309 98 — 1,327 1,072,734  Corporate Debt Securities 57 — — — 57  Total Short-term investments $ 1,307,675 $ 98 $ — $ 3,047 $ 1,310,820   Long-term investments  Sovereign Debt Securities $ 270,206 $ 1,837 $ — $ 1 $ 272,044  Corporate Debt Securities 197 2 (1) — 198  Total Long-term investments $ 270,403 $ 1,839 $ (1) $ 1 $ 272,242    Total $ 1,826,903 $ 1,937 $ (1) $ 3,048 $ 1,831,887  (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 March 31, 2019 and December 31, 2018. (*) Brazilian government bonds measured at fair value with impact on the consolidated statement of income for the application of the fair value option. (See Note 2 – Investments fair value option) (**) Includes $806,087 thousands of U.S treasury notes measured at fair value with impact on the consolidated statement of income for the application of the fair value option. (See Note 2 – Investments fair value option)    December 31, 2018  Cost Gross Unrealized Gains (1) Gross Unrealized Losses (1) Estimated Fair Value   (In thousands)  Cash and cash equivalents  Money Market Funds $ 179,252 $ — $ — $ 179,252  Total Cash and cash equivalents $ 179,252 $ — $ — $ 179,252   Restricted Cash and cash equivalents  Money Market Funds $ 24,363 $ — $ — $ 24,363  Total Restricted Cash and cash equivalents $ 24,363 $ — $ — $ 24,363   Short-term investments  Sovereign Debt Securities (Central Bank of Brazil mandatory guarantee) $ 282,752 $ 1,565 $ — $ 284,317  Sovereign Debt Securities 156,910 237 — 157,147  Corporate Debt Securities 21 — — 21  Total Short-term investments $ 439,683 $ 1,802 $ — $ 441,485   Long-term investments  Sovereign Debt Securities $ 271,024 $ 1,431 $ — $ 272,455  Corporate Debt Securities 244 — (3) 241  Total Long-term investments $ 271,268 $ 1,431 $ (3) $ 272,696   Total $ 914,566 $ 3,233 $ (3) $ 917,796  (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 March 31, 2019 and December 31, 2018. 
Estimated Fair Values of Cash Equivalents, Short-Term and Long-Term Investments, Effective Maturities	  One year or less 1,559,645  One year to two years 272,020  Two years to three years 133  Three years to four years 43  Four years to five years 46  Total $ 1,831,887 

Long Term Retention Plan (Table

Long Term Retention Plan (Tables)	3 Months Ended
	Mar. 31, 2019
Long Term Retention Plan [Abstract]
Long Term Retention Plans Accrued Compensation Expense	  Three Months Ended March 31,  2019 2018  (In thousands)  LTRP 2010 — 53  LTRP 2011 55 663  LTRP 2012 559 1,125  LTRP 2013 193 1,749  LTRP 2014 1,220 2,084  LTRP 2015 1,982 2,815  LTRP 2016 3,038 3,908  LTRP 2017 2,813 3,340  LTRP 2018 1,455 —  LTRP 2019 2,126 —  Total LTRP $ 13,441 $ 15,737  

Convertible Senior Notes (Table

Convertible Senior Notes (Tables) - Convertible Senior Notes [Member]	3 Months Ended
	Mar. 31, 2019
2028 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Carrying Amounts of Liability and Equity Components	    March 31, 2019 December 31, 2018  (In thousands)  Amount of the equity component (1) $ 327,305 $ 327,305   2.00% Convertible Senior Notes due 2028 $ 880,000 $ 880,000  Unamortized debt discount (2) (319,466) (325,783)  Unamortized transaction costs related to the debt component (9,837) (9,958)  Contractual coupon interest accrual 10,609 5,867  Contractual coupon interest payment (8,360) —  Net carrying amount $ 552,946 $ 550,126   (1) Net of $6,163 thousands of transaction costs related to the equity component of the 2028 Notes. (2) As of March 31, 2019 , the remaining period over which the unamortized debt discount will be amortized is 9.5 years.
Summary of Interest Expense for Contractual Interest and Accretion of Debt Discount	  Three month periods ended March 31,  2019  (In thousands)  Contractual coupon interest expense $ 4,742  Amortization of debt discount 6,317  Amortization of debt issuance costs 121  Total interest expense related to the 2028 Notes $ 11,180  
2019 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Carrying Amounts of Liability and Equity Components	     March 31, 2019 December 31, 2018  (In thousands)  Amount of the equity component (1) $ 9,196 $ 9,196   2.25% Convertible Senior Notes due 2019 $ 65,985 $ 65,987  Unamortized debt discount (2) (532) (1,063)  Unamortized transaction costs related to the debt component (88) (176)  Contractual coupon interest accrual 373 5,447  Contractual coupon interest payment — (5,447)  Net carrying amount $ 65,738 $ 64,748  (1) Net of $236 thousands of transaction costs related to the equity component of the 2019 Notes. (2) As of March 31, 2019 , the remaining period over which the unamortized debt discount will be amortized is 0.25 years.  
Summary of Interest Expense for Contractual Interest and Accretion of Debt Discount	  Three month periods ended March 31,  2019 2018   (In thousands) (In thousands)  Contractual coupon interest expense $ 373 $ 1,856  Amortization of debt discount 531 2,508  Amortization of debt issuance costs 88 399  Total interest expense related to the 2019 Notes $ 992 $ 4,763 

Securitization Transactions (Ta

Securitization Transactions (Tables)	3 Months Ended
	Mar. 31, 2019
Securitization Transactions [Abstract]
Assets And Liabilities Of The Trust	   March 31, December 31,  2019 2018  Assets (in thousands) (in thousands)  Current assets:  Restricted cash and cash equivalents $ 10,375 $ 24,363  Loans receivable, net 70,757 51,471  Total current assets 81,132 75,834  Total assets $ 81,132 $ 75,834  Liabilities  Current liabilities:  Accounts payable and accrued expenses $ 103 $ 113  Loans payable and other financial liabilities 8,089 7,539  Total current liabilities 8,192 7,652  Non-current liabilities:  Loans payable and other financial liabilities 46,180 46,441  Total non-current liabilities 46,180 46,441  Total liabilities $ 54,372 $ 54,093  

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Supplemental Balance Sheet Information Related To Leases	  March 31,  2019  Operating Leases  Operating lease right-of-use assets $ 153,499   Operating lease liabilities $ 155,632   Finance Leases  Property and equipment, at cost 9,119  Accumulated depreciation (284)  Property and equipment, net $ 8,835   Loans payable and other financial liabilities $ 6,724  
Summary Of Weighted Average Remaining Lease Term And Discount Rate	  Weighted average remaining lease term  Operating leases 9 Years  Finance leases 5 Years    Weighted average discount rate  Operating leases 10.44 %  Finance leases 6.91 %  
Components Of Lease Expense	  March 31,  2019   Operating lease cost $ 6,477   Finance lease cost:  Depreciation of property and equipment 235  Interest on lease liabilities 152  Total finance lease cost $ 387  
Supplemental Cash Flow Information Related To Leases	  Three months ended  March 31, 2019  Cash paid for amounts included in the measurement of lease liabilities:  Operating cash flows from operating leases $ 4,124  Financing cash flows from finance leases 662    Right-of-use assets obtained in exchange for lease obligations:  Operating leases $ 35,926  Finance leases 177  
Maturities Of Lease Liabilities	  Year Ending March 31, Operating Leases Finance Leases  One year or less $ 26,507 $ 1,905  One year to two years 27,364 1,719  Two years to three years 26,469 1,719  Three years to four years 25,383 1,719  Four years to five years 23,826 1,399  Thereafter 112,956 359  Total lease payments $ 242,505 $ 8,820  Less imputed interest (86,873) (2,096)  Total $ 155,632 $ 6,724  

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 29, 2019	Dec. 31, 2018	Dec. 31, 2017
Significant Accounting Policies [Line Items]
cash, cash equivalents, restricted cash and cash equivalents	$ 1,306,261	$ 350,411		$ 464,695	$ 388,260
Cash and cash equivalents	1,295,886			440,332
Restricted cash and cash equivalents	10,375			24,363
Long-lived assets, intangible assets and goodwill located in the foreign operations	294,120			270,073
Allowance for doubtful accounts, loan receivables and chargebacks	26,783			23,411
Deferred Revenue	5,958			$ 5,918	$ 6,116
Deferred Revenue, Revenue Recognized	$ 3,188	4,316
Percentage on relief of total income tax	60.00%
Percentage on relief of payroll tax	70.00%
Redeemable convertible preferred stock, Shares Issued	100,000
Redeemable convertible preferred stock, Par Value	$ 0.001			$ 0.001
Recognized gains in interest income and other financial gains	$ 3,048
Series A Preferred Stock [Member]
Significant Accounting Policies [Line Items]
Redeemable convertible preferred stock, Shares Issued			100,000
Redeemable convertible preferred stock, Par Value			$ 0.001
Redeemable convertible preferred stock aggregate			$ 100,000
Preferred Stock, Embedded Beneficial Conversion feature			$ 5,841
New Software Development Law [Member]
Significant Accounting Policies [Line Items]
Income tax gain	3,319	7,299
Labor cost benefit	$ 2,396	$ 2,016
Aggregate per share effect of the Argentine tax holiday	$ 0.07	$ 0.17
Software development law audit fees	$ 400	$ 652

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Foreign currency translation	$ (394,600)	$ (394,306)
Unrealized gains on investments	2,025	3,345
Estimated tax loss on unrealized gains on investments	(13)	(616)
Accumulated other comprehensive loss	$ (392,588)	$ (391,577)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Summary of Changes in Accumulated Balances of Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance, Estimated tax (expense) benefit	$ (616)
Other comprehensive income (loss) before reclassifications, Estimated tax (expense) benefit	(13)
Amount of loss (gain) reclassified from accumulated other comprehensive loss, Estimated tax (expense) benefit	616
Net current period other comprehensive income (loss), Estimated tax (expense) benefit	603
Ending Balance, Estimated tax (expense) benefit	(13)
Beginning Balance	(391,577)
Other comprehensive income (loss) before reclassifications, net of tax	1,718
Amount of loss (gain) reclassified from accumulated other comprehensive loss, net of tax	(2,729)
Net current period other comprehensive income (loss), net of tax	(1,011)	$ (16,393)
Ending Balance	(392,588)
Unrealized (Losses) Gains on Investments [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	3,345
Other comprehensive income (loss) before reclassifications, before tax	2,025
Amount of loss (gain) reclassified from accumulated other comprehensive loss, before tax	(3,345)
Net current period other comprehensive income (loss), before tax	(1,320)
Ending Balance	2,025
Foreign Currency Translation [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance	(394,306)
Other comprehensive income (loss) before reclassifications, before tax	(294)
Net current period other comprehensive income (loss), before tax	(294)
Ending Balance	$ (394,600)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Reclassifications Out of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income and other financial gains	$ 24,444	$ 9,195
Income tax loss	(3,491)	12,438
Net income (loss)	11,864	$ (12,919)
Amount of (Loss) Gain Reclassified From Accumulated Other Comprehensive Loss [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax loss	(616)
Net income (loss)	2,729
Amount of (Loss) Gain Reclassified From Accumulated Other Comprehensive Loss [Member] | Unrealized (Losses) Gains on Investments [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income and other financial gains	$ 3,345

Net Income (Loss) Per Share (Na

Net Income (Loss) Per Share (Narrative) (Details) - Convertible Senior Notes [Member] - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Aug. 31, 2018	Aug. 24, 2018	Jun. 30, 2014
2019 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Convertible senior notes, issued	$ 65,985,000	$ 65,987,000			$ 330,000,000
Convertible senior notes, interest rate					2.25%
2028 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Convertible senior notes, issued	$ 880,000,000	$ 880,000,000	$ 880,000,000
Convertible senior notes, interest rate			2.00%	2.00%

Net Income (Loss) Per Share (Ne

Net Income (Loss) Per Share (Net (Loss) Income Per Share of Common Stock) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net income attributable to MercadoLibre, Inc. per common share
Net (loss) income per common share, Basic	$ 0.13	$ (0.29)
Net (loss) income per common share, Diluted	$ 0.13	$ (0.29)
Numerator:
Net income (loss)	$ 11,864	$ (12,919)
Amortization of redeemable convertible preferred stock	(5,841)
Net income (loss) corresponding to common stock, Basic	6,023	(12,919)
Net income (loss) corresponding to common stock, Diluted	$ 6,023	$ (12,919)
Denominator:
Weighted average of common stock outstanding for Basic earnings per share	45,980,255	44,157,364
Adjusted weighted average of common stock outstanding for Diluted earnings per share	45,980,255	44,157,364

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Goodwill and Intangible Assets [Abstract]
Aggregate amortization expense for intangible assets	$ 1,230	$ 1,672

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Composition of Goodwill and Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 89,827	$ 88,883	$ 92,279
Total intangible assets	36,484	36,480
Accumulated amortization	(18,801)	(17,899)
Total intangible assets, net	17,683	18,581
Licenses And Others [Member]
Indefinite-lived Intangible Assets [Line Items]
Amortizable intangible assets	5,445	5,406
Non-Compete Agreement [Member]
Indefinite-lived Intangible Assets [Line Items]
Amortizable intangible assets	2,786	3,028
Customer Lists [Member]
Indefinite-lived Intangible Assets [Line Items]
Amortizable intangible assets	14,844	14,897
Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Amortizable intangible assets	4,676	4,565
Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Intangible assets with indefinite lives	$ 8,733	$ 8,584

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Changes in Carrying Amount of Goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Balance, beginning of the period	$ 88,883	$ 92,279
Business acquisition		7,022
Purchase price allocation adjustments	45
Effect of exchange rates changes	899	(10,418)
Balance, end of the period	89,827	88,883
Brazil [Member]
Goodwill [Line Items]
Balance, beginning of the period	30,069	32,492
Business acquisition		3,110
Effect of exchange rates changes	(145)	(5,533)
Balance, end of the period	29,924	30,069
Argentina [Member]
Goodwill [Line Items]
Balance, beginning of the period	6,946	5,761
Business acquisition		3,175
Purchase price allocation adjustments	45
Effect of exchange rates changes		(1,990)
Balance, end of the period	6,991	6,946
Mexico [Member]
Goodwill [Line Items]
Balance, beginning of the period	31,340	30,396
Business acquisition		543
Effect of exchange rates changes	567	401
Balance, end of the period	31,907	31,340
Chile [Member]
Goodwill [Line Items]
Balance, beginning of the period	16,014	18,805
Business acquisition		61
Effect of exchange rates changes	392	(2,852)
Balance, end of the period	16,406	16,014
Colombia [Member]
Goodwill [Line Items]
Balance, beginning of the period	3,339	3,632
Business acquisition		80
Effect of exchange rates changes	76	(373)
Balance, end of the period	3,415	3,339
Other Countries [Member]
Goodwill [Line Items]
Balance, beginning of the period	1,175	1,193
Business acquisition		53
Effect of exchange rates changes	9	(71)
Balance, end of the period	$ 1,184	$ 1,175

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Expected Intangible Asset Amortization Expense) (Details) $ in Thousands	Mar. 31, 2019USD ($)
Goodwill and Intangible Assets [Abstract]
For year ended 12/31/2019	$ 2,720
For year ended 12/31/2020	2,383
For year ended 12/31/2021	1,815
For year ended 12/31/2022	1,083
Thereafter	949
Total remaining amortization of intangible assets	$ 8,950

Segment Reporting (Financial Pe

Segment Reporting (Financial Performance of Company's Reporting Segments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Net revenues	$ 473,770	$ 320,976
Direct costs	(378,867)	(277,870)
Direct contribution	94,903	43,106
Operating expenses and indirect costs of net revenues	(84,764)	(72,525)
Income (loss) from operations	10,139	(29,419)
Other income (expenses):
Interest income and other financial gains	24,444	9,195
Interest expense and other financial losses	(15,559)	(10,734)
Foreign currency (losses) gains	(3,669)	5,601
Net income (loss) before income tax expense (gain)	15,355	(25,357)
Operating Segments [Member] | Brazil Segment [Member]
Segment Reporting Information [Line Items]
Net revenues	302,384	184,155
Direct costs	(225,343)	(176,980)
Direct contribution	77,041	7,175
Operating Segments [Member] | Argentina Segment [Member]
Segment Reporting Information [Line Items]
Net revenues	93,776	101,939
Direct costs	(67,492)	(57,295)
Direct contribution	26,284	44,644
Operating Segments [Member] | Mexico Segment [Member]
Segment Reporting Information [Line Items]
Net revenues	54,561	17,065
Direct costs	(65,585)	(26,323)
Direct contribution	(11,024)	(9,258)
Operating Segments [Member] | Other Countries Segment [Member]
Segment Reporting Information [Line Items]
Net revenues	23,049	17,817
Direct costs	(20,447)	(17,272)
Direct contribution	$ 2,602	$ 545

Segment Reporting (Allocation o

Segment Reporting (Allocation of Long-Lived Tangible Assets Based on Geography) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 188,956	$ 165,614
US [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	2,313	2,959
Argentina [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	74,070	58,358
Brazil [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	83,717	78,227
Mexico [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	19,372	16,497
Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	9,484	9,573
Total Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 186,643	$ 162,655

Segment Reporting (Allocation_2

Segment Reporting (Allocation of Goodwill and Intangible Assets Based on Geography) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	$ 107,510	$ 107,464
US [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	33	46
Argentina [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	8,607	9,050
Brazil [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	31,746	32,955
Mexico [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	36,222	35,993
Chile [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	25,678	24,638
Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	5,224	4,782
Total Other Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total goodwill and intangible assets	$ 107,477	$ 107,418

Segment Reporting (Consolidated

Segment Reporting (Consolidated Net Revenues by Similar Products and Services) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues		$ 473,770	$ 320,976
Enchanced Marketplace [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	[1]	253,035	140,695
Non-marketplace [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	[2],[3]	220,735	180,281
Payment fees		$ 186,965	$ 144,763
[1]	Includes Final Value Fees and Shipping fees.
[2]	Includes $186,965 thousands and $144,763 thousands of Payment Fees for the three-month periods ended March 31, 2019 and 2018, respectively.
[3]	Includes, among other things, Ad Sales, Classified Fees, Payment Fees and other ancillary services.

Fair Value Measurement of Ass_3

Fair Value Measurement of Assets and Liabilities (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2019		Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Non-financial assets	$ 0		$ 0
Non-financial liabilities	0		0
Estimated Fair Value	1,831,887		917,796
Short-term Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value	1,310,820		441,485
Auction Rate Securities [Member] | Direct Investment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0		0
Fair Value, Measurements, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent considerations	2,170		$ 2,097
2028 Convertible Senior Notes [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net carrying amount	$ 593,905
Central Bank of Brazil Mandatory Guarantee [Member] | Short-term Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percent of electronic currency deposited	100.00%		80.00%
Estimated Fair Value	$ 238,029	[1]	$ 284,317
[1]	Brazilian government bonds measured at fair value with impact on the consolidated statement of income for the application of the fair value option. (See Note 2 - Investments fair value option)

Fair Value Measurement of Ass_4

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	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Assets	$ 1,831,887	$ 917,796
Contingent considerations	2,170	2,097
Long-term retention plan	53,422	42,625
Total Financial Liabilities	55,592	44,722
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	1,831,877	917,771
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Assets	10	25
Long-term retention plan	53,422	42,625
Total Financial Liabilities	53,422	42,625
Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent considerations	2,170	2,097
Total Financial Liabilities	2,170	2,097
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	239,269	179,252
Restricted Cash and cash equivalents	9,556	24,363
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	239,269	179,252
Restricted Cash and cash equivalents	9,556	24,363
Central Bank of Brazil Mandatory Guarantee [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	238,029	284,317
Central Bank of Brazil Mandatory Guarantee [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	238,029	284,317
Sovereign Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1,344,778	429,602
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	1,344,778	429,602
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	255	262
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	245	237
Corporate Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 10	$ 25

Fair Value Measurement of Ass_5

Fair Value Measurement of Assets and Liabilities (Fair Value of Financial Assets and Liabilities Measured at Amortized Cost) (Details) - USD ($) $ in Thousands		Mar. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		$ 920,891	$ 614,038
Liabilities		1,982,816	1,766,399
Accounts Payable And Accrued Expenses [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		246,767	266,759
Funds Payable To Customers [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		680,746	640,954
Salaries And Social Security Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		54,528	40,942
Taxes Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		34,414	31,058
Operating Lease Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		155,632
Loans Payable And Other Financial Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	[1]	743,223	735,177
Other Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		67,506	51,509
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		920,891	614,038
Liabilities		2,023,775	1,766,399
Significant Other Observable Inputs (Level 2) [Member] | Accounts Payable And Accrued Expenses [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		246,767	266,759
Significant Other Observable Inputs (Level 2) [Member] | Funds Payable To Customers [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		680,746	640,954
Significant Other Observable Inputs (Level 2) [Member] | Salaries And Social Security Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		54,528	40,942
Significant Other Observable Inputs (Level 2) [Member] | Taxes Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		34,414	31,058
Significant Other Observable Inputs (Level 2) [Member] | Operating Lease Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		155,632
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	[1]	784,182	735,177
Significant Other Observable Inputs (Level 2) [Member] | Other Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		67,506	51,509
Time Deposits [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		337,637	20,056
Time Deposits [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		337,637	20,056
Accounts Receivable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		34,524	35,153
Accounts Receivable [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		34,524	35,153
Credit Card Receivables [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		308,468	360,298
Credit Card Receivables [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		308,468	360,298
Loans Receivable, Net [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		134,640	95,778
Loans Receivable, Net [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		134,640	95,778
Other Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		105,622	102,753
Other Assets [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		$ 105,622	$ 102,753
[1]	The fair value of the 2019 Notes and the 2028 Notes (including the equity component) are disclosed in Note 9.

Fair Value Measurement of Ass_6

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		3 Months Ended
		Mar. 31, 2019		Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Cost		$ 1,826,903		$ 914,566
Gross Unrealized Gains	[1]	1,937		3,233
Gross Unrealized Losses	[1]	(1)		(3)
Financial Gains		3,048
Estimated Fair Value		1,831,887		917,796
Fair value option		3,048
Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		239,269		179,252
Estimated Fair Value		239,269		179,252
Cash and Cash Equivalents [Member] | Money Market Funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		239,269		179,252
Estimated Fair Value		239,269		179,252
Restricted Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		9,556		24,363
Estimated Fair Value		9,556		24,363
Restricted Cash and Cash Equivalents [Member] | Money Market Funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		9,556		24,363
Estimated Fair Value		9,556		24,363
Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		1,307,675		439,683
Gross Unrealized Gains	[1]	98		1,802
Financial Gains		3,047
Estimated Fair Value		1,310,820		441,485
Short-term Investments [Member] | Central Bank of Brazil Mandatory Guarantee [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		236,309	[2]	282,752
Gross Unrealized Gains	[1]			1,565
Financial Gains	[2]	1,720
Estimated Fair Value		238,029	[2]	284,317
Short-term Investments [Member] | Sovereign Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		1,071,309	[3]	156,910
Gross Unrealized Gains	[1]	98	[3]	237
Financial Gains	[3]	1,327
Estimated Fair Value		1,072,734	[3]	157,147
Short-term Investments [Member] | Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		57		21
Estimated Fair Value		57		21
Short-term Investments [Member] | U.S. Treasury Notes [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair value option		806,087
Long-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		270,403		271,268
Gross Unrealized Gains	[1]	1,839		1,431
Gross Unrealized Losses	[1]	(1)		(3)
Financial Gains		1
Estimated Fair Value		272,242		272,696
Long-term Investments [Member] | Sovereign Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		270,206		271,024
Gross Unrealized Gains	[1]	1,837		1,431
Financial Gains		1
Estimated Fair Value		272,044		272,455
Long-term Investments [Member] | Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost		197		244
Gross Unrealized Gains	[1]	2
Gross Unrealized Losses	[1]	(1)		(3)
Estimated Fair Value		$ 198		$ 241
[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 March 31, 2019 and December 31, 2018.
[2]	Brazilian government bonds measured at fair value with impact on the consolidated statement of income for the application of the fair value option. (See Note 2 - Investments fair value option)
[3]	Includes $806,087 thousands of U.S treasury notes measured at fair value with impact on the consolidated statement of income for the application of the fair value option. (See Note 2 - Investments fair value option)

Fair Value Measurement of Ass_7

Fair Value Measurement of Assets and Liabilities (Estimated Fair Values Of Cash Equivalents, Short-Term and Long-Term Investments, Effective Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value Measurement of Assets and Liabilities [Abstract]
One year or less	$ 1,559,645
One year to two years	272,020
Two years to three years	133
Three years to four years	43
Four years to five years	46
Total	$ 1,831,887	$ 917,796

Commitments and Contingencies (

Commitments and Contingencies (Narrative I) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Mar. 31, 2019
Loss Contingencies [Line Items]
Reserves for proceeding-related contingencies		$ 4,782
Aggregate amount for legal actions for which no loss amount has been accrued		12,561
Loss accrued for reasonably possible legal actions	$ 0
Buyer Protection Program [Member]
Loss Contingencies [Line Items]
Provision for maximum potential exposure	988,664	993,500
Product liability, contingency, recorded allowance	$ 4,146	$ 4,670

Commitments and Contingencies_2

Commitments and Contingencies (Narrative II) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)item	Dec. 31, 2018item
Commitments And Contingencies [Line Items]
Finance Leases	$ 6,724
Citibank N.A. [Member] | Argentinean Subsidiaries [Member]
Commitments And Contingencies [Line Items]
Number of line of credit facility | item	2
Banco De Chile [Member]
Commitments And Contingencies [Line Items]
Number of line of credit facility | item	2
Line of credit, Fixed interest rate	3.60%
Scotiabank Chile [Member]
Commitments And Contingencies [Line Items]
Number of line of credit facility | item		2
Line of credit, Fixed interest rate	3.72%
Line Of Credit One [Member] | Citibank N.A. [Member] | Argentinean Subsidiaries [Member]
Commitments And Contingencies [Line Items]
Outstanding line of credit	$ 12,066
Line of credit, Fixed interest rate	37.75%
Line Of Credit One [Member] | Citibank N.A. [Member] | Uruguayan Subsidiary [Member]
Commitments And Contingencies [Line Items]
Outstanding line of credit	$ 898
Line of credit, Fixed interest rate	9.11%
Line Of Credit One [Member] | Banco De Chile [Member]
Commitments And Contingencies [Line Items]
Outstanding line of credit	$ 8,869
Line Of Credit One [Member] | Scotiabank Chile [Member]
Commitments And Contingencies [Line Items]
Outstanding line of credit	4,424
Line Of Credit Two [Member] | Citibank N.A. [Member] | Argentinean Subsidiaries [Member]
Commitments And Contingencies [Line Items]
Outstanding line of credit	$ 12,053
Line of credit, Fixed interest rate	40.50%
Line Of Credit Two [Member] | Banco De Chile [Member]
Commitments And Contingencies [Line Items]
Outstanding line of credit	$ 7,376
Line Of Credit Two [Member] | Scotiabank Chile [Member]
Commitments And Contingencies [Line Items]
Outstanding line of credit	2,949
Unsecured Line Of Credit [Member] | Citibank N.A. [Member] | Argentinean Subsidiaries [Member]
Commitments And Contingencies [Line Items]
Outstanding line of credit	$ 3,121
Line of credit, Fixed interest rate	55.50%
Unsecured Line Of Credit [Member] | Citibank N.A. [Member] | Uruguayan Subsidiary [Member]
Commitments And Contingencies [Line Items]
Outstanding line of credit	$ 10,195
Line of credit, Fixed interest rate	9.11%
Unsecured Line Of Credit [Member] | Banco De Chile [Member]
Commitments And Contingencies [Line Items]
Outstanding line of credit	$ 1,494
Line of credit, Fixed interest rate	3.65%
Fulfillment Center Finance Leases [Member]
Commitments And Contingencies [Line Items]
Number of finance lease contracts | item	3
Fulfillment Center Finance Leases One [Member]
Commitments And Contingencies [Line Items]
Finance Leases	$ 5,458
Debt instrument, interest rate	6.39%
Lessee, Finance Lease, Term of Contract	5 years 3 months
Fulfillment Center Finance Leases Two [Member]
Commitments And Contingencies [Line Items]
Finance Leases	$ 1,089
Debt instrument, interest rate	9.00%
Lessee, Finance Lease, Term of Contract	4 years
Fulfillment Center Finance Leases Three [Member]
Commitments And Contingencies [Line Items]
Finance Leases	$ 177
Debt instrument, interest rate	9.90%

Long Term Retention Plan (Long

Long Term Retention Plan (Long Term Retention Plans Accrued Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	$ 13,441	$ 15,737
LTRP 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan		53
LTRP 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	55	663
LTRP 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	559	1,125
LTRP 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	193	1,749
LTRP 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	1,220	2,084
LTRP 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	1,982	2,815
LTRP 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	3,038	3,908
LTRP 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	2,813	$ 3,340
LTRP 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	1,455
LTRP 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long term retention plan	$ 2,126

Convertible Senior Notes (Narra

Convertible Senior Notes (Narrative) (Details) - Convertible Senior Notes [Member] - USD ($)	Aug. 24, 2018	Jun. 30, 2014	Nov. 30, 2018	Aug. 31, 2018	Mar. 31, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Sep. 30, 2017
Initial Issuance - 2028 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 800,000,000
Additional Issuance - 2028 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount				$ 80,000,000
2028 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount				$ 880,000,000	$ 880,000,000	$ 880,000,000	$ 880,000,000
Debt instrument, interest rate	2.00%			2.00%
Convertible senior notes, conversion rate	2.2553%
Converted instrument, principal amount used per conversion	$ 1,000				100
Convertible senior notes, conversion price	$ 443.40
Amount paid to enter into capped call transactions			$ 11,472,000	$ 91,784,000
Estimated fair value					$ 1,181,391,000	$ 1,181,391,000	787,266,000
Common stock, closing price per share					$ 507.7	$ 507.7
Debt instrument convertible, if-converted value in excess of principal					$ 127,673,000
2019 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 330,000,000			65,985,000	$ 65,985,000	65,987,000
Debt instrument, interest rate		2.25%
Convertible senior notes, conversion rate		7.9353%
Converted instrument, principal amount used per conversion		$ 1,000
Convertible senior notes, amount converted						291,000
Convertible senior notes, conversion price		$ 126.02
Amount paid to enter into capped call transactions		$ 19,668,000						$ 45,692,000	$ 67,308,000
Estimated fair value					$ 264,992,000	$ 264,992,000	$ 150,572,000
Closing Trading Amount Price Per Share					$ 100
Common stock, closing price per share					$ 507.7	$ 507.7
Amount of debt extinguished	$ 263,724,000
Cash payment for debt extinguishment	$ 348,123,000
Shares issued related to the debt extinguishment	1,044,298
Unwind of convertible note cappeds calls			$ 14,405,000	$ 121,703,000
Debt instrument convertible, if-converted value in excess of principal					$ 199,868,000

Convertible Senior Notes (Carry

Convertible Senior Notes (Carrying Amounts of Liability and Equity Components) (Details) - Convertible Senior Notes [Member] - USD ($)		Mar. 31, 2019	Dec. 31, 2018	Aug. 31, 2018	Jun. 30, 2014
2028 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Amount of the equity component	[1]	$ 327,305,000	$ 327,305,000
Convertible senior notes		880,000,000	880,000,000	$ 880,000,000
Unamortized debt discount	[2]	(319,466,000)	(325,783,000)
Unamortized transaction costs related to the debt component		(9,837,000)	(9,958,000)
Contractual coupon interest accrual		10,609,000	5,867,000
Contractual coupon interest payment		(8,360,000)
Net carrying amount		552,946,000	550,126,000
2019 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Amount of the equity component	[3]	9,196,000	9,196,000
Convertible senior notes		65,985,000	65,987,000		$ 330,000,000
Unamortized debt discount	[4]	(532,000)	(1,063,000)
Unamortized transaction costs related to the debt component		(88,000)	(176,000)
Contractual coupon interest accrual		373,000	5,447,000
Contractual coupon interest payment			(5,447,000)
Net carrying amount		$ 65,738,000	$ 64,748,000
[1]	Net of $6,163 thousands of transaction costs related to the equity component of the 2028 Notes.
[2]	As of March 31, 2019, the remaining period over which the unamortized debt discount will be amortized is 9.5 years.
[3]	Net of $236 thousands of transaction costs related to the equity component of the 2019 Notes.
[4]	As of March 31, 2019, the remaining period over which the unamortized debt discount will be amortized is 0.25 years.

Convertible Senior Notes (Car_2

Convertible Senior Notes (Carrying Amounts of Liability and Equity Components - Additional Information) (Details) - Convertible Senior Notes [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Aug. 31, 2018	Aug. 24, 2018	Jun. 30, 2014
2028 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate			2.00%	2.00%
Transaction costs related to the equity component	$ 6,163
2019 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate					2.25%
Transaction costs related to the equity component	$ 236	$ 236
Remaining period over which the unamortized debt discount will be amortized	3 months

Convertible Senior Notes (Summa

Convertible Senior Notes (Summary of Interest Expense for Contractual Interest and Accretion of Debt Discount) (Details) - Convertible Senior Notes [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
2028 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Contractual coupon interest expense	$ 4,742
Amortization of debt discount	6,317
Amortization of debt issuance costs	121
Total interest expense related to the Notes	11,180
2019 Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Contractual coupon interest expense	373	$ 1,856
Amortization of debt discount	531	2,508
Amortization of debt issuance costs	88	399
Total interest expense related to the Notes	$ 992	$ 4,763

Equity Offerings (Details)

Equity Offerings (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 29, 2019	Mar. 15, 2019	Mar. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Stock Issued During Period, Value, New Issues			$ 1,866,500
Common stock, par value			$ 0.001	$ 0.001
Redeemable convertible preferred stock, Par Value			0.001	$ 0.001
Preferred Stock Par Or Stated Value Per Share			$ 1,000
Preferred Stock, Dividend Rate, Percentage			4.00%
Common Stock, Convertible, Conversion Price			$ 479.71
Funds raised from aggregate issuance			$ 1,965,188
Equity, issuance cost			$ 34,812
Common Stock [Member]
Class of Stock [Line Items]
Common Stock Value At Offering		$ 1,150,000
Common Stock Value At Offering, Per Share		$ 480
Stock Issued During Period, Shares, New Issues		2,395,834
Common Stock Value At Offering, Underwriters' Option, Additional Shares Value		$ 150
Common stock, par value		$ 0.001
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Redeemable convertible preferred stock, Par Value	$ 0.001
PayPay, Inc. [Member] | Common Stock [Member]
Class of Stock [Line Items]
Common Stock Value At Offering, Per Share		$ 436.10
Stock Issued During Period, Value, New Issues		$ 750,000
Stock Issued During Period, Shares, New Issues		1,719,790
Dragoneer Investment Group [Member] | Series A Preferred Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Value, New Issues	$ 100,000
Stock Issued During Period, Shares, New Issues	100,000
Redeemable convertible preferred stock, Par Value	$ 0.001

Securitization Transaction (Nar

Securitization Transaction (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Collateralized Debt, Due May 2021 [Member]
Debt Instrument [Line Items]
Collateralized debt	$ 31,119
Basis spread on variable rate	3.25%
Debt term	30 months
Collateralized Debt, Due October 2019 [Member]
Debt Instrument [Line Items]
Collateralized debt	$ 5,593
Debt term	8 months
Collateralized Debt, Due July 2019 [Member]
Debt Instrument [Line Items]
Collateralized debt	$ 1,989
Brazil [Member]
Debt Instrument [Line Items]
Collateralized debt	46,687
Brazil [Member] | Collateralized Debt, Due June 2021 [Member]
Debt Instrument [Line Items]
Collateralized debt	$ 15,568
Basis spread on variable rate	3.50%
Debt term	36 months
Argentina [Member]
Debt Instrument [Line Items]
Collateralized debt	$ 7,582
Maximum [Member] | Collateralized Debt, Due October 2019 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	48.00%
Maximum [Member] | Collateralized Debt, Due July 2019 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	45.00%
Minimum [Member] | Collateralized Debt, Due October 2019 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	33.00%
Minimum [Member] | Collateralized Debt, Due July 2019 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	30.00%
BADLAR Rate [Member] | Collateralized Debt, Due October 2019 [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
BADLAR Rate [Member] | Collateralized Debt, Due July 2019 [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%

Securitization Transaction (Ass

Securitization Transaction (Assets And Liabilities Of The Trust) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Securitization Transactions [Line Items]
Restricted cash and cash equivalents	$ 10,375	$ 24,363
Accounts receivable, net	34,524	35,153
Loans receivable, net	134,640	95,778
Total current assets	3,520,453	1,511,123
Total assets	4,448,160	2,239,519
Accounts payable and accrued expenses	246,767	266,759
Loans payable and other financial liabilities	141,162	132,949
Total current liabilities	1,248,215	1,166,224
Loans payable and other financial liabilities	602,061	602,228
Total non-current liabilities	887,199	736,595
Total liabilities	2,135,414	1,902,819
Trust Created In Brazil [Member]
Securitization Transactions [Line Items]
Restricted cash and cash equivalents	10,375	24,363
Loans receivable, net	70,757	51,471
Total current assets	81,132	75,834
Total assets	81,132	75,834
Accounts payable and accrued expenses	103	113
Loans payable and other financial liabilities	8,089	7,539
Total current liabilities	8,192	7,652
Loans payable and other financial liabilities	46,180	46,441
Total non-current liabilities	46,180	46,441
Total liabilities	$ 54,372	$ 54,093

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet Information Related To Leases) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 153,499
Operating lease liabilities	155,632
Finance Leases	6,724
Amortization depreciation	(235)
Accumulated Depreciation [Member]
Lessee, Lease, Description [Line Items]
Amortization depreciation	(284)
Property And Equipment, At Cost [Member]
Lessee, Lease, Description [Line Items]
Finance Leases	9,119
Property And Equipment, Net [Member]
Lessee, Lease, Description [Line Items]
Finance Leases	8,835
Loans Payable And Other Financial Liabilities [Member]
Lessee, Lease, Description [Line Items]
Finance Leases	$ 6,724

Leases (Summary Of Weighted Ave

Leases (Summary Of Weighted Average Remaining Lease Term And Discount Rate) (Details)	Mar. 31, 2019
Leases [Abstract]
Weighted average remaining lease term, Operating leases	9 years
Weighted average remaining lease term, Finance leases	5 years
Weighted average discount rate, Operating leases	10.44%
Weighted average discount rate, Finance leases	6.91%

Leases (Components Of Lease Exp

Leases (Components Of Lease Expense) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 6,477
Depreciation of property and equipment	235
Interest on lease liabilities	152
Total finance lease cost	$ 387

Leases (Supplemental Cash Flow

Leases (Supplemental Cash Flow Information Related To Leases) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 4,124
Financing cash flows from finance leases	662
Right-of-use assets obtained in exchange for lease obligations: Operating leases	35,926
Right-of-use assets obtained in exchange for lease obligations: Finance leases	$ 177

Leases (Maturities Of Lease Lia

Leases (Maturities Of Lease Liabilities) (Details) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating Leases, One year or less	$ 26,507
Operating Leases, One year to two years	27,364
Operating Leases, Two years to three years	26,469
Operating Leases, Three years to four years	25,383
Operating Leases, Fours years to five years	23,826
Operating Leases, Thereafter	112,956
Operating Leases, Total lease payments	242,505
Operating Leases, Less imputed interest	(86,873)
Operating leases, Total	155,632
Finance Leases, One year or less	1,905
Finance Leases, One year to two years	1,719
Finance Leases, Two years to three years	1,719
Finance Leases, Three years to four years	1,719
Finance Leases, Fours years to five years	1,399
Finance Leases, Thereafter	359
Finance Leases, Total lease payments	8,820
Finance Leases, Less imputed interest	(2,096)
Finance Leases, Total	$ 6,724