Cash America 2008 Annual Report Download - page 68

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45
return to its more traditional trend of lowest loss levels in the first quarter and will increase sequentially
thereafter as it did in 2008.
2008 ,
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter,
Fiscal
Year
Combined cash advance loss provision as a % of
combined cash advances written (a) (b) ........................... 5.5% 6.5% 7.6% 7.3% 6.8%
Charge-offs (net of recoveries) as a % of combined
cash advances written (a) (b) ...............................................
.
6.5% 5.2% 8.1% 8.0% 7.0%
Combined cash advance loss provision as a % of
cash advance fees (a) (b) ................................................... 31.8% 37.4% 42.5% 42.1% 38.6%
Combined cash advances and fees receivable, gross(a)
(b) ..........................................................................................
.
$ 124,463 $ 145,653 $ 143,351 $ 140,527 $ 140,527
Combined allowance for losses on cash advances ........ 22,803 29,710 27,258 23,630 23,630
Combined cash advances and fees receivable, net(a) (b) .....
.
$ 101,660 $ 115,943 $ 116,093 $ 116,897 $ 116,897
Combined allowance for losses and accrued third-party
lender losses as a % of combined gross portfolio (a) (b)
.
18.3% 20.4% 19.0% 16.8% 16.8%
2007 ,
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter ,
Fiscal
Year
Combined cash advance loss provision as a % of
combined cash advances written (a) (b) ........................... 7.4% 8.4% 8.1% 6.8% 7.7%
Charge-offs (net of recoveries) as a % of combined
cash advances written (a) (b) ............................................ 6.5% 6.5% 8.3% 7.8% 7.3%
Combined cash advance loss provision as a % of
cash advance fees (a) (b) .................................................. 41.7% 48.7% 45.7% 38.8% 43.7%
Combined cash advances and fees receivable,
gross(a) (b)..............................................................................
.
$ 115,547 $ 139,576 $ 144,779 $ 148,404 $ 148,404
Combined allowance for losses on cash advances 24,394 33,996 32,757 27,504 27,504
Combined cash advances and fees receivable, net(a) (b) .....
.
$ 91,153 $ 105,580 $ 112,022 $ 120,900 $ 120,900
Combined allowance for losses and accrued third-party
lender losses as a % of combined gross portfolio(a) (b) 21.1% 24.4% 22.6% 18.5% 18.5%
(a) Non-GAAP presentation. For informational purposes and to provide a greater understanding of the Company’s businesses.
Management believes that information provided with this level of detail is meaningful and useful in understanding the activities
and business metrics of the Company’s operations.
(b) Includes (i) cash advances written by the Company, and (ii) cash advances written by third-party lenders that were marketed,
processed or arranged by the Company on behalf of the third-party lenders, all at the Company’s pawn and cash advance locations
and through the Company’s internet and card services distribution channels. (Note: The Company did not commence business in
the card services distribution channel until the third quarter of 2008).