Cash America 2007 Annual Report Download - page 107

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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
87
As of December 31, 2007:
Total assets.......................................................... $ 123,760 $ 180,410 $304,170
Goodwill ............................................................. $ 44,618 $ 112,737 $157,355
Internet Total Cash
Year Ended December 31, 2006: Storefront Lending Advance
Revenue
Cash advance fees........................................... $ 120,946 $ 30,483 $ 151,429
Check cashing fees, royalties and other .......... 9,160 — 9,160
Total revenue...................................................... 130,106 30,483 160,589
Expenses
Operations....................................................... 58,632 7,806 66,438
Cash advance loss provision ........................... 29,369 14,817 44,186
Administration ................................................ 19,512 1,982 21,494
Depreciation and amortization ........................ 7,698 659 8,357
Total expenses .................................................... 115,211 25,264 140,475
Income from operations...................................... $ 14,895 $ 5,219 $ 20,114
As of December 31, 2006:
Total assets ......................................................... $ 130,361 $ 92,770 $ 223,131
Goodwill............................................................. $ 44,618 $ 46,871 $ 91,489
18. Pro Forma Financial Information
The following unaudited pro forma financial information reflects the consolidated results of
operations of the Company as if the acquisition of CashNetUSA had occurred on January 1, 2005. The
unaudited pro forma financial information has been prepared for informational purposes only and does not
purport to be indicative of what would have resulted had the acquisition transaction occurred on the date
indicated or what may result in the future ($ in thousands, except per share data):
Year Ended Year Ended
December 31, 2006 December 31, 2005
As Reported As Reported (a) As Reported As Reported (a)
Total revenue ...................................................... $ 694,514 $ 732,094 $ 595,763 $ 604,923
Net revenue......................................................... 489,585 527,165 411,964 421,124
Total expenses .................................................... 385,566 420,241 331,252 343,511
Income from continuing operations.................... 60,940 61,908 44,821 41,731
Income from continuing operations per share:
Basic................................................................ $ 2.05 $ 2.09 $ 1.53 $ 1.43
Diluted............................................................. $ 2.00 $ 2.03 $ 1.48 $ 1.38
(a) Pro forma adjustments reflect:
(i) the inclusion of operating results of CashNetUSA for the period January 1, 2006 through September 15, 2006, the
date of acquisition, for the 2006 pro forma and the operating results of CashNetUSA for the 12 month period ended
December 31, 2005 for the 2005 pro forma;
(ii) the adjustments of depreciable asset bases and lives for property and equipment and amortization of intangible assets
acquired by the Company;
(iii) the additional interest incurred in the acquisition of CashNetUSA’s operating assets; and
(iv) the tax effect of CashNetUSA’s earnings and net pro forma adjustments at the statutory rate of 35%.