Cash America 2009 Annual Report Download - page 120
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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
92
The purchase price 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 at December 31, 2006 $ 38,778
2007 purchase price adjustments(a) 78,749
2008 purchase price adjustments(b) 97,965
Deferred portion of November 2008 earn-out payment paid in 2009 34,746
2009 purchase price adjustments(c) 5,000
Total consideration paid for acquisition including earn-out payments $ 255,238
(a)a Purchase price adjustments include earn-out payments of $78.0 million and other purchase price adjustments of $0.7 million.
(b)a Purchase price adjustments include only earn-out payments.
(c)a Represents the final true-up payment.
Other
The following table provides information concerning the acquisitions of domestic and foreign pawn
lending locations made during 2009, 2008 and 2007 (excluding Prenda Fácil, Primary Innovations, LLC and
CashNetUSA) (dollars in thousands):
2009 2008 2007
Number of stores acquired:
Pawnshops 3 1 5
Purchase price allocated to:
Pawn loans $ 235 $ 159 $ 607
Finance and service charges receivable 23 18 75
Cash advances and fees receivable - - 38
Merchandise held for disposition, net 148 44 406
Property and equipment 51 10 47
Goodwill 372 442 1,632
Intangible assets 124 55 217
Other liabilities (43) (3) (65)
Total cash paid for acquisitions $ 910 $ 725 $ 2,957
Purchase price adjustments for prior year acquisition - - 852
Total cash paid for acquisitions $ 910 $ 725 $ 3,809