Cash America 2007 Annual Report Download - page 89

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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
69
determined at the March 31 and September 30, 2007 measurement dates were calculated at 5.5 times trailing
twelve month earnings.
As of December 31, 2006, the purchase price of CashNetUSA, including the accrued contingent payment
as of December 31, 2006, was allocated as follows (in thousands):
Cash advances .............................................................................................................................. $ 18,677
Property and equipment................................................................................................................ 1,562
Goodwill....................................................................................................................................... 46,871
Intangible assets ........................................................................................................................... 6,264
Other assets , net........................................................................................................................... 9
Net assets acquired.................................................................................................................... 73,383
Cash considerations payable......................................................................................................... (33,761)
Acquisition costs payable ............................................................................................................. (844)
Total cash paid for acquisition .................................................................................................. $ 38,778
During the year ended December 31, 2007, the Company also acquired the assets of five pawnshops
and made payment on a pawnshop over which it acquired management control in December 2006. The
aggregate cash payments for these acquisitions were $3.8 million.
During 2006, the Company acquired certain assets of 19 pawnshop locations in purchase transactions
for a total purchase price of $27.2 million. The excess of cost of acquired assets over the net amounts assigned
to assets acquired and liabilities assumed was recognized as goodwill.
In 2005 the Company acquired the assets of nine pawnshops and a cash advance location in purchase
transactions for an aggregate purchase price of $19.0 million. Three of the nine pawnshops acquired in 2005
were franchised locations operated by an entity controlled by the Chairman of the Board of Directors of the
Company. See Note 19.
All of the amounts of goodwill recorded in the acquisitions are expected to be deductible for tax
purposes.