Cash America 2015 Annual Report Download - page 125

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Financial Assets and Liabilities Not Measured at Fair Value
TheCompany’sfinancialassetsandliabilitiesasofDecember31,2015and2014thatarenotmeasuredat
fair value in the consolidated balance sheets are as follows (dollars in thousands):
Carrying Value Estimated Fair Value
December 31, December 31, Fair Value Measurement Using
2015 2015 Level 1 Level 2 Level 3
Financial assets:
Cash and cash equivalents $ 23,153 $ 23,153 $ 23,153 $ — $ —
Pawn loans 248,713 248,713 — — 248,713
Short-term loans, net 27,376 27,376 — — 27,376
Installment loans, net 3,915 3,915 — — 3,915
Pawn loan fees and service charges
receivable 52,798 52,798 — — 52,798
Total $ 355,955 $ 355,955 $ 23,153 $ — $ 332,802
Financial liabilities:
Liability for estimated losses on
consumer loans guaranteed by the
Company $1,986 $1,986 $—$—$1,986
Line of credit 27,108 28,154 — 28,154 —
Senior unsecured notes 184,450 185,603 — 185,603 —
Total $ 213,544 $ 215,743 $ — $ 213,757 $ 1,986
CarryingValue Estimated Fair Value
December31, December31, Fair Value Measurement Using
2014 2014 Level 1 Level 2 Level 3
Financial assets:
Cash and cash equivalents $ 53,042 $ 53,042 $ 53,042 $ — $ —
Pawn loans 252,168 252,168 — — 252,168
Short-term loans, net 40,218 40,218 — — 40,218
Installment loans, net 4,635 4,635 — — 4,635
Pawn loan fees and service charges
receivable 53,648 53,648 — — 53,648
Total $403,711 $403,711 $53,042 $ —$350,669
Financial liabilities:
Liability for estimated losses on
consumer loans guaranteed by the
Company $1,060 $1,060 $—$—$1,060
Senior unsecured notes 196,470 203,346 — 203,346 —
Total $ 197,530 $ 204,406 $ — $ 203,346 $ 1,060
Pawn loans generally have maturity periods of less than 90 days. Because of this short maturity period, the
carrying value of pawn loans approximates the fair value of these loans.
Short-term loans and installment loans, collectively, represent “Consumer loans, net” on the consolidated
balance sheet and are carried net of the allowance for estimated loan losses, which is calculated by applying
historical loss rates combined with recent default trends to the gross consumer loan balance. The unobservable
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
121