10-Q Filing

MERCADOLIBRE INC CIK: 1099590 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001562762-16-000383`
Period End Date	20160331
Filing Date	20160506
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	meli-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 39 Cash Flow Statement 63 Comprehensive Income 12

Balance Sheet 83 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`	$223.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$219.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$144.88M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.16M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.16M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$166.88M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$202.11M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.16M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.16M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$195.57M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$47.12M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$28.43M	USD	Point-in-time
Credit cards receivables, net	`ReceivablesFromCustomers`	$131.95M	USD	Point-in-time
Credit cards receivables, net	`ReceivablesFromCustomers`	$193.67M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$6.01M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$7.32M	USD	Point-in-time
Inventory	`InventoryNet`	$222.00K	USD	Point-in-time
Inventory	`InventoryNet`	$420.00K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$9.58M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$16.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$545.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$605.05M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$187.62M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$187.89M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$89.93M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$81.63M	USD	Point-in-time
Goodwill	`Goodwill`	$91.38M	USD	Point-in-time
Goodwill	`Goodwill`	$86.55M	USD	Point-in-time
Goodwill	`Goodwill`	$68.83M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$29.06M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$28.99M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$29.69M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$32.63M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$43.95M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$47.53M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$478.42M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$458.43M	USD	Point-in-time
Total assets	`Assets`	$1.08B	USD	Point-in-time
Total assets	`Assets`	$1.00B	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$62.04M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$77.18M	USD	Point-in-time
Funds payable to customers	`PayablesToCustomers`	$230.00M	USD	Point-in-time
Funds payable to customers	`PayablesToCustomers`	$203.25M	USD	Point-in-time
Salaries and social security payable	`EmployeeRelatedLiabilitiesCurrent`	$32.92M	USD	Point-in-time
Salaries and social security payable	`EmployeeRelatedLiabilitiesCurrent`	$36.02M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$10.09M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$25.14M	USD	Point-in-time
Loans payable and other financial liabilities	`LoansPayableCurrent`	$3.28M	USD	Point-in-time
Loans payable and other financial liabilities	`LoansPayableCurrent`	$1.97M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$7.67M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$8.09M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$4.55M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$6.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$386.33M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$322.48M	USD	Point-in-time
Salaries and social security payable	`EmployeeRelatedLiabilitiesNoncurrent`	$10.42M	USD	Point-in-time
Salaries and social security payable	`EmployeeRelatedLiabilitiesNoncurrent`	$7.02M	USD	Point-in-time
Loans payable and other financial liabilities	`LongTermLoansPayable`	$294.34M	USD	Point-in-time
Loans payable and other financial liabilities	`LongTermLoansPayable`	$295.68M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$27.05M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$28.32M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$9.86M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$13.05M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$344.07M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$341.67M	USD	Point-in-time
Total liabilities	`Liabilities`	$664.15M	USD	Point-in-time
Total liabilities	`Liabilities`	$730.40M	USD	Point-in-time
Common stock, $0.001 par value, 110,000,000 shares authorized, 44,157,341 and 44,156,854 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$44.00K	USD	Point-in-time
Common stock, $0.001 par value, 110,000,000 shares authorized, 44,157,341 and 44,156,854 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$44.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$137.92M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$137.98M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$440.77M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$464.39M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-239.28M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-249.35M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$339.46M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$353.07M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$1.08B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$1.00B	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueServicesNet`	$148.10M	USD	1 Quarter
Net revenues	`SalesRevenueServicesNet`	$157.63M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$44.71M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$55.45M	USD	1 Quarter
Gross profit	`GrossProfit`	$103.39M	USD	1 Quarter
Gross profit	`GrossProfit`	$102.18M	USD	1 Quarter
Product and technology development	`TechnologyServicesCosts`	$21.94M	USD	1 Quarter
Product and technology development	`TechnologyServicesCosts`	$17.25M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$32.68M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$26.20M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$17.07M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$18.13M	USD	1 Quarter
Impairment of Long-Lived Assets	`AssetImpairmentCharges`	$16.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$77.81M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$71.69M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$30.49M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$25.59M	USD	1 Quarter
Interest income and other financial gains	`InvestmentIncomeInterest`	$4.31M	USD	1 Quarter
Interest income and other financial gains	`InvestmentIncomeInterest`	$7.25M	USD	1 Quarter
Interest expense and other financial losses	`InterestExpenseAndOtherFinancialCharges`	$5.68M	USD	1 Quarter
Interest expense and other financial losses	`InterestExpenseAndOtherFinancialCharges`	$4.95M	USD	1 Quarter
Foreign currency gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$5.15M	USD	1 Quarter
Foreign currency gains (losses)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-8.57M	USD	1 Quarter
Net income before income / asset tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$37.20M	USD	1 Quarter
Net income before income / asset tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$16.38M	USD	1 Quarter
Income / asset tax expense	`IncomeTaxExpenseBenefit`	$6.96M	USD	1 Quarter
Income / asset tax expense	`IncomeTaxExpenseBenefit`	$14.65M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.25M	USD	1 Quarter
Basic net income Shareholders per common share	`EarningsPerShareBasic`	$0.68	USD	1 Quarter
Basic net income Shareholders per common share	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Weighted average of outstanding common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	44.16M	shares	1 Quarter
Weighted average of outstanding common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	44.15M	shares	1 Quarter
Diluted net income shareholders per common share	`EarningsPerShareDiluted`	$0.68	USD	1 Quarter
Diluted net income shareholders per common share	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Weighted average of outstanding common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.16M	shares	1 Quarter
Weighted average of outstanding common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.15M	shares	1 Quarter
Cash Dividends declared	`CommonStockDividendsPerShareDeclared`	$0.10	USD	1 Quarter
Cash Dividends declared	`CommonStockDividendsPerShareDeclared`	$0.15	USD	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.25M	USD	1 Quarter
Unrealized Devaluation Loss, net	`ForeignCurrencyTransactionLossBeforeTax`	$10.86M	USD	1 Quarter
Impairment of Long-Lived Assets	`AssetImpairmentCharges`	$16.23M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.25M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.08M	USD	1 Quarter
Accrued interest	`AccruedInterestFromInvestments`	$3.88M	USD	1 Quarter
Accrued interest	`AccruedInterestFromInvestments`	$2.78M	USD	1 Quarter
Convertible bonds accrued interest, Amortization of debt discount and amortization of debt issuance costs	`ConvertibleBondsAccruedInterestAndAmortizationOfDebtDiscount`	$4.43M	USD	1 Quarter
Convertible bonds accrued interest, Amortization of debt discount and amortization of debt issuance costs	`ConvertibleBondsAccruedInterestAndAmortizationOfDebtDiscount`	$3.98M	USD	1 Quarter
LTRP accrued compensation	`ShareBasedCompensation`	$3.19M	USD	1 Quarter
LTRP accrued compensation	`ShareBasedCompensation`	$3.33M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-1.90M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$6.12M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$22.92M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$27.92M	USD	1 Quarter
Credit Card Receivables	`IncreaseDecreaseInFundsReceivableFromCustomers`	$62.54M	USD	1 Quarter
Credit Card Receivables	`IncreaseDecreaseInFundsReceivableFromCustomers`	$54.76M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.39M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$3.45M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$158.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.31M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$6.74M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$30.39M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$14.38M	USD	1 Quarter
Funds payable to customers	`IncreaseDecreaseInFundsPayableToCustomers`	$48.68M	USD	1 Quarter
Funds payable to customers	`IncreaseDecreaseInFundsPayableToCustomers`	$23.68M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$181.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.15M	USD	1 Quarter
Interest received from investments	`ProceedsFromOtherOperatingActivities`	$2.82M	USD	1 Quarter
Interest received from investments	`ProceedsFromOtherOperatingActivities`	$4.39M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-11.80M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$38.18M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$420.07M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$641.26M	USD	1 Quarter
Proceeds from sale and maturity of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$659.31M	USD	1 Quarter
Proceeds from sale and maturity of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$431.64M	USD	1 Quarter
Payment for acquired businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.84M	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$942.00K	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$11.00K	USD	1 Quarter
Advance for property and equipment	`IncreaseDecreaseInAdvancedForFixedAssets`	$872.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.55M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.32M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$777.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$3.31M	USD	1 Quarter
Payments on loans payable and other financial liabilities	`RepaymentsOfLongTermDebt`	$139.00K	USD	1 Quarter
Payments on loans payable and other financial liabilities	`RepaymentsOfLongTermDebt`	$661.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$4.55M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$7.33M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-5.21M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-7.47M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-37.40M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-5.76M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-22.00M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.38M	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$223.14M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$219.77M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$144.88M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$166.88M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$223.14M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$219.77M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$144.88M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$166.88M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.25M	USD	1 Quarter
Currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-22.53M	USD	1 Quarter
Currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-11.19M	USD	1 Quarter
Unrealized net gains on available for sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$448.00K	USD	1 Quarter
Unrealized net gains on available for sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$261.00K	USD	1 Quarter
Less: Reclassification adjustment for (losses) gains on available for sale investments included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$-379.00K	USD	1 Quarter
Less: Reclassification adjustment for (losses) gains on available for sale investments included in net income	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$-672.00K	USD	1 Quarter
Net change in accumulated other comprehensive loss, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$-21.89M	USD	1 Quarter
Net change in accumulated other comprehensive loss, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$-10.07M	USD	1 Quarter
Total Comprehensive Income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$20.18M	USD	1 Quarter
Total Comprehensive Income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-20.17M	USD	1 Quarter

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