Cash America 2015 Annual Report Download - page 100

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Acquisition of 34 Pawn Lending Locations in Georgia and North Carolina
In December 2013, the Company completed the acquisition of substantially all of the assets of a 34-store
chain of pawn lending locations owned by PawnMart, Inc. that consisted of 31 locations in Georgia and three
locations in North Carolina. Theaggregatepurchasepricefortheacquisitionwas$61.1million,ofwhich$0.5
million was paid in 2014. The acquisition price was paid in cash and funded by available cash and borrowings under
the Company’s line of credit. TheCompanyincurred$0.6millionofacquisitioncostsrelatedtotheacquisition,
which were expensed.
The allocation of the purchase price for this acquisition is as follows (dollars in thousands):
Pawn loans $ 10,510
Merchandise acquired 3,695
Pawn loan fees and service charges receivable 1,639
Property and equipment 2,631
Goodwill 35,190
Intangible assets 6,834
Other assets 1,262
Other liabilities (218)
Customer deposits (426)
Net assets acquired 61,117
CashconsiderationpayableasofDecember31,2013 (500)
Totalconsiderationpaidforacquisition,netofcashacquired,asofDecember31,2013 60,617
Cash paid in 2014 related to holdbacks 500
Total cash paid for acquisition $ 61,117
Acquisition of 41 Pawn Lending Locations in Texas
In August 2013, the Company completed the acquisition of substantially all of the assets of a chain of pawn
lending locations in Texas that included 41 operating locations and the rights to one additional Texas pawn lending
location (that was under construction but not open for business at the time of the acquisition), all of which were
acquired from TDP Superstores Corp. and operated primarily under the name “Top Dollar Pawn.” The aggregate
consideration paid for the acquisition was $103.7 million. The acquisition price was paid in cash and funded by
available cash and borrowings under the Company’s line of credit. The Company incurred approximately
$0.4millionofacquisitioncostsrelatedtothistransaction,whichwereexpensed.
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
96