Cash America 2015 Annual Report Download - page 83

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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(dollars in thousands, except per share data)
YearEndedDecember31,
2015 2014 2013
Revenue
Pawn loan fees and service charges $ 318,987 $ 329,368 $ 311,799
Proceeds from disposition of merchandise 620,757 660,006 595,439
Consumer loan fees 82,501 97,674 113,211
Other 7,246 7,648 10,037
Total Revenue 1,029,491 1,094,696 1,030,486
Cost of Revenue
Disposed merchandise 439,242 474,137 410,613
Consumer loan loss provision 23,105 31,009 33,359
Total Cost of Revenue 462,347 505,146 443,972
Net Revenue 567,144 589,550 586,514
Expenses
Operations and administration 454,912 490,465 469,218
Depreciation and amortization 56,251 60,942 56,128
(Gain) loss on divestitures (307) 5,176 —
Total Expenses 510,856 556,583 525,346
Income from Operations 56,288 32,967 61,168
Interest expense (14,457) (26,520) (36,319)
Interest income 100 7,647 19,862
Foreign currency transaction gain 32 113 17
Loss on early extinguishment of debt (607) (22,553) (607)
Gain on disposition of equity securities 1,688 — —
Equity in loss of unconsolidated subsidiary — — (136)
Income (Loss) from Continuing Operations before Income Taxes 43,044 (8,346) 43,985
Provision (benefit) for income taxes 15,478 2,041 (15,505)
Net Income (Loss) from Continuing Operations before
Noncontrolling Interest 27,566 (10,387)59,490
Net income attributable to the noncontrolling interest in continuing
operations — — (308)
Net Income (Loss) from Continuing Operations 27,566 (10,387) 59,182
Net Income from Discontinued Operations, Net of Tax — 109,025 83,346
Net Income Attributable to Cash America International, Inc. $ 27,566 $ 98,638 $ 142,528
Earnings Per Share:
Basic Earnings Per Share
Net Income (Loss) from Continuing Operations $ 1.02 $ (0.36) $ 2.07
Net Income from Discontinued Operations $ — $ 3.77 $ 2.91
Net Income Attributable to Cash America International, Inc. $ 1.02 $ 3.41 $ 4.97
Diluted Earnings Per Share
Net Income (Loss) from Continuing Operations $ 1.01 $ (0.36) $ 1.93
Net Income from Discontinued Operations $ — $ 3.72 $ 2.72
Net Income Attributable to Cash America International, Inc. $ 1.01 $ 3.36 $ 4.66
Weighted average common shares outstanding:
Basic 27,022 28,901 28,657
Diluted 27,238 29,341 30,613
Dividends declared per common share $ 0.20 $ 0.14 $ 0.14
See notes to consolidated financial statements.
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