Cash America 2008 Annual Report Download - page 85
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62
add additional items of value to their pledge in order to obtain the desired loan amount. However, those
customers unable or unwilling to provide additional collateral would receive lower loan amounts, possibly
resulting in a lower balance of pawn loans outstanding for the Company.
Foreign Currency Exchange Risk. The Company is subject to the risk of an unexpected change in British
pound and Mexican peso exchange rates as a result of its business activities in the United Kingdom and
Mexico. As a result of fluctuations in these currencies, the Company recorded foreign currency transaction
losses of $177,000 and $24,000 in 2008 and 2007, all of which were related to transactions involving the
British pound. A hypothetical 10% decline in the exchange rate of the British pound at December 31, 2008
and December 31, 2007 would have decreased net income by $626,000 and $171,000, respectively, in 2008
and 2007.