10-Q Filing

MERCADOLIBRE INC CIK: 1099590 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-204750`
Period End Date	20130331
Filing Date	20130507
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	meli-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 42 Cash Flow Statement 56 Comprehensive Income 16

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	110.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	110.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$101.49M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.15M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$67.38M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.15M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$75.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$122.17M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.15M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$75.55M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$93.69M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.15M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$20.44M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$19.84M	USD	Point-in-time
Credit cards receivables, net	`ReceivablesFromCustomers`	$40.68M	USD	Point-in-time
Credit cards receivables, net	`ReceivablesFromCustomers`	$35.82M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.08M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.08M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$11.04M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$11.59M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$11.40M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$15.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$275.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$288.57M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$94.96M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$85.96M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$38.02M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$37.73M	USD	Point-in-time
Goodwill	`Goodwill`	$62.82M	USD	Point-in-time
Goodwill	`Goodwill`	$62.09M	USD	Point-in-time
Goodwill	`Goodwill`	$60.37M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.17M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.28M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$5.86M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$5.37M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.33M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.12M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$203.31M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$214.66M	USD	Point-in-time
Total assets	`Assets`	$478.67M	USD	Point-in-time
Total assets	`Assets`	$503.22M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$26.74M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$23.98M	USD	Point-in-time
Funds payable to customers	`PayablesToCustomers`	$101.47M	USD	Point-in-time
Funds payable to customers	`PayablesToCustomers`	$110.35M	USD	Point-in-time
Salaries and social security payable	`EmployeeRelatedLiabilitiesCurrent`	$19.97M	USD	Point-in-time
Salaries and social security payable	`EmployeeRelatedLiabilitiesCurrent`	$23.15M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$19.21M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$16.06M	USD	Point-in-time
Loans payable and other financial liabilities	`LoansPayableCurrent`	$115.02K	USD	Point-in-time
Loans payable and other financial liabilities	`LoansPayableCurrent`	$84.57K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$4.81M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$6.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$169.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$182.73M	USD	Point-in-time
Salaries and social security payable	`EmployeeRelatedLiabilitiesNoncurrent`	$4.13M	USD	Point-in-time
Salaries and social security payable	`EmployeeRelatedLiabilitiesNoncurrent`	$3.45M	USD	Point-in-time
Loans payable and other financial liabilities	`LongTermLoansPayable`	$59.49K	USD	Point-in-time
Loans payable and other financial liabilities	`LongTermLoansPayable`	$46.46K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$8.73M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$8.98M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.84M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.58M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$15.32M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$16.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$184.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$199.21M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$4.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$4.00M	USD	Point-in-time
Common stock, $0.001 par value, 110,000,000 shares authorized, 44,152,933 and 44,150,920 shares issued and outstanding at March 31, 2013 and December 31, 2012, respectively	`CommonStockValue`	$44.15K	USD	Point-in-time
Common stock, $0.001 par value, 110,000,000 shares authorized, 44,152,933 and 44,150,920 shares issued and outstanding at March 31, 2013 and December 31, 2012, respectively	`CommonStockValue`	$44.15K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$120.47M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$120.47M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulated`	$229.47M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulated`	$218.08M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-48.78M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-49.97M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$300.01M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$289.81M	USD	Point-in-time
Total Liabilities, Redeemable Noncontrolling Interest and Equity	`LiabilitiesAndStockholdersEquity`	$478.67M	USD	Point-in-time
Total Liabilities, Redeemable Noncontrolling Interest and Equity	`LiabilitiesAndStockholdersEquity`	$503.22M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueServicesNet`	$102.73M	USD	1 Quarter
Net revenues	`SalesRevenueServicesNet`	$83.74M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$28.65M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$21.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$62.64M	USD	1 Quarter
Gross profit	`GrossProfit`	$74.08M	USD	1 Quarter
Product and technology development	`TechnologyServicesCosts`	$7.59M	USD	1 Quarter
Product and technology development	`TechnologyServicesCosts`	$9.38M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$17.43M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$22.34M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.70M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$13.79M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$45.51M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$37.71M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$24.93M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$28.57M	USD	1 Quarter
Interest income and other financial gains	`InvestmentIncomeInterest`	$3.39M	USD	1 Quarter
Interest income and other financial gains	`InvestmentIncomeInterest`	$3.09M	USD	1 Quarter
Interest expense and other financial losses	`InterestExpenseAndOtherFinancialCharges`	$360.35K	USD	1 Quarter
Interest expense and other financial losses	`InterestExpenseAndOtherFinancialCharges`	$77.32K	USD	1 Quarter
Foreign currency losses	`ForeignCurrencyTransactionGainLossBeforeTax`	$-6.25M	USD	1 Quarter
Foreign currency losses	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.03M	USD	1 Quarter
Other losses, net	`OtherNonoperatingIncomeExpense`	$-4.25K	USD	1 Quarter
Other losses, net	`OtherNonoperatingIncomeExpense`	$-3.73K	USD	1 Quarter
Net income before income / asset tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$25.35M	USD	1 Quarter
Net income before income / asset tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$26.90M	USD	1 Quarter
Income / asset tax expense	`IncomeTaxExpenseBenefit`	$7.83M	USD	1 Quarter
Income / asset tax expense	`IncomeTaxExpenseBenefit`	$7.27M	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.52M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.64M	USD	1 Quarter
Less: Net Income attributable to Redeemable Noncontrolling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$42.34K	USD	1 Quarter
Less: Net Income attributable to Redeemable Noncontrolling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.43K	USD	1 Quarter
Net income attributable to MercadoLibre, Inc. shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$19.63M	USD	1 Quarter
Net income attributable to MercadoLibre, Inc. shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$17.48M	USD	1 Quarter
Basic net income attributable to MercadoLibre, Inc. Shareholders per common share	`EarningsPerShareBasic`	$0.40	USD	1 Quarter
Basic net income attributable to MercadoLibre, Inc. Shareholders per common share	`EarningsPerShareBasic`	$0.45	USD	1 Quarter
Weighted average of outstanding common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	44.14M	shares	1 Quarter
Weighted average of outstanding common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	44.15M	shares	1 Quarter
Diluted net income attributable to MercadoLibre, Inc. Shareholders per common share	`EarningsPerShareDiluted`	$0.45	USD	1 Quarter
Diluted net income attributable to MercadoLibre, Inc. Shareholders per common share	`EarningsPerShareDiluted`	$0.40	USD	1 Quarter
Weighted average of outstanding common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.15M	shares	1 Quarter
Weighted average of outstanding common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.15M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income attributable to MercadoLibre, Inc. Shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$19.63M	USD	1 Quarter
Net income attributable to MercadoLibre, Inc. Shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$17.48M	USD	1 Quarter
Net Income attributable to Redeemable Noncontrolling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$42.34K	USD	1 Quarter
Net Income attributable to Redeemable Noncontrolling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.43K	USD	1 Quarter
Net Devaluation Loss in Venezuela	`LossRelatedToVenezuelaCurrencyDevaluation`	$6.42M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.62M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.97M	USD	1 Quarter
Accrued interest	`AmortizationOfFinancingCostsAndDiscounts`	$-816.54K	USD	1 Quarter
Accrued interest	`AmortizationOfFinancingCostsAndDiscounts`	$954.56K	USD	1 Quarter
LTRP accrued compensation	`ShareBasedCompensation`	$1.85M	USD	1 Quarter
LTRP accrued compensation	`ShareBasedCompensation`	$1.71M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-190.81K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-140.24K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$994.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.80M	USD	1 Quarter
Credit Card Receivables	`IncreaseDecreaseInFundsReceivableFromCustomers`	$116.47K	USD	1 Quarter
Credit Card Receivables	`IncreaseDecreaseInFundsReceivableFromCustomers`	$5.73M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.07M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$673.72K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$4.60M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-493.89K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.38M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.24M	USD	1 Quarter
Funds payable to customers	`IncreaseDecreaseInFundsPayableToCustomers`	$-159.06K	USD	1 Quarter
Funds payable to customers	`IncreaseDecreaseInFundsPayableToCustomers`	$8.85M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.57M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$2.30M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.09M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.99M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$86.66M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$136.52M	USD	1 Quarter
Proceeds from sale and maturity of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$83.58M	USD	1 Quarter
Proceeds from sale and maturity of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$146.41M	USD	1 Quarter
Payment for acquired businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$3.22M	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$31.51K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.70M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.86M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.81M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.80M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$4.81M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$3.53M	USD	1 Quarter
Stock options exercised	`ProceedsFromStockOptionsExercised`	$3.02K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.81M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.53M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-158.64K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-8.41M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$20.68M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.49M	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$101.49M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$67.38M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$75.87M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$122.17M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$101.49M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$67.38M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$75.87M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$122.17M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$17.52M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.64M	USD	1 Quarter
Currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-781.83K	USD	1 Quarter
Currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$3.58M	USD	1 Quarter
Unrealized net gains on available for sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$693.97K	USD	1 Quarter
Unrealized net gains on available for sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$528.34K	USD	1 Quarter
Less: reclassification adjustment for gains on available for sale investments included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	$-924.66K	USD	1 Quarter
Less: reclassification adjustment for gains on available for sale investments included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	$-759.57K	USD	1 Quarter
Net change in accumulated other comprehensive (loss) income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$3.35M	USD	1 Quarter
Net change in accumulated other comprehensive (loss) income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$-1.01M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$16.51M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$22.99M	USD	1 Quarter
Less: Comprehensive Income attributable to Redeemable Noncontrolling Interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$219.85K	USD	1 Quarter
Less: Comprehensive Income attributable to Redeemable Noncontrolling Interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$302.25K	USD	1 Quarter
Comprehensive Income attributable to MercadoLibre, Inc. Shareholders	`ComprehensiveIncomeNetOfTax`	$22.68M	USD	1 Quarter
Comprehensive Income attributable to MercadoLibre, Inc. Shareholders	`ComprehensiveIncomeNetOfTax`	$16.29M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.