Cash America 2007 Annual Report Download - page 26

6
Presented below is information with respect to the cash advance product for the years ended
December 31, 2007, 2006 and 2005:
2007 2006 2005
Locations offering cash advances at end of year.................. 735 718 727
On behalf of the Company.............................................. 416 406 352
On behalf of the third-party lenders................................ 319 314 340
On behalf of both the Company and the third-party
lenders........................................................................ ʊ ʊ 35
Amount of cash advances written (in thousands)................. $ 2,024,927 $ 1,177,763 $ 930,335
On behalf of the Company.............................................. $ 1,370,167 $ 817,186 $ 573,916
On behalf of the third-party lenders................................ $ 654,760 $ 360,577 $ 356,419
Amount of cash advances assigned by the third-party
lenders (in thousands) .....................................................
$ 93,611 $ 33,760
$ 67,555
Average cash advance amount written................................. $ 413 $ 381 $ 359
Check Cashing and Other Services
The Company provides check cashing and other financial services through its Mr. Payroll and
Cashland subsidiaries and through many of its pawnshop and payday advance locations. Other financial
services include the sale of stored value cards, money orders, money transfers and auto insurance, among
others. As of December 31, 2007, Mr. Payroll’s operations consisted of 134 franchised and five company-
owned check cashing centers in 18 states. Each Mr. Payroll franchisee pays royalties to Mr. Payroll based
on the gross revenues of check cashing services provided within the franchisee’s facility. Cashland provides
check cashing in all 217 of its cash advance locations. Aggregate check cashing fees, royalties and other
income were 1.8% of the Company’s total revenue in 2007 and 2.3% in both 2006 and 2005.
Financial Information on Segments and Areas
Additional financial information regarding the Company’s revenues and assets by each of its three
operating segments is provided in Note 17 of “Notes to Consolidated Financial Statements.”
Operations
During 2007, the Company reorganized its operations into three divisions: a Retail Services
Division, which operates all of the physical lending locations; the Internet Services Division, which operates
the Company’s online lending activities; and the Shared Services Division, which provides support and
administrative services to the Company’s operating divisions and its management. Each Division is headed
by a President who reports to the Chief Executive Officer.
Retail Services – Unit Management. The Executive Vice President – Chief Operating Officer –
Retail Services Division, who reports to the President of the Retail Services Division, oversees the
operations of all of the Company’s location-based pawn and cash advance lending operations. Each pawn
and cash advance lending location has a unit manager who is responsible for supervising its personnel and
assuring that it is managed in accordance with Company guidelines, policies and procedures. Each unit
manager reports to a Market Manager, who typically oversees approximately ten unit managers. This
operating division consists of five geographic operating regions, each of which is managed by a Region
Vice President. Each Market Manager reports to a Region Vice President. Cashland locations are managed
by two Operations Directors who oversee its geographic operating regions and report to the Executive Vice
President – Chief Operating Officer – Retail Services Division. Each Cashland Market Manager reports to
one of the two Cashland Operations Directors.
Internet Services. CashNetUSA is managed by the President of the Internet Services Division.
Management personnel responsible for different areas of CashNetUSA’s operations report to its President.