Cash America 2009 Annual Report Download - page 122
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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
94
included in “Accounts payable and accrued liabilities” on the Company’s balance sheet. The components of
Company-owned cash advances and receivables at December 31, 2009 and 2008 were as follows (in
thousands):
December 31,
2009 2008
Funded by the Company
Active cash advances and fees receivable $ 87,710 $69,443
Cash advances and fees in collection 20,055 21,147
Total Funded by the Company 107,765 90,590
Purchased by the Company from third-party lenders 28,374 14,755
Company-owned cash advances and fees receivable, gross 136,139 105,345
Less: Allowance for losses 27,350 21,495
Cash advances and fees receivable, net $ 108,789 $83,850
Changes in the allowance for losses for the Company-owned portfolio and the accrued loss for third-
party lender-owned portfolios during the years ended December 31, 2009, 2008 and 2007 were as follows (in
thousands):
Year ended December 31,
2009 2008 2007
Allowance for losses for Company-owned cash advances
Balance at beginning of period $ 21,495 $ 25,676 $ 19,513
Cash advance loss provision 130,007 140,416 154,565
Charge-offs (144,295) (170,585) (163,352)
Recoveries 20,143 25,988 14,950
Balance at end of period $ 27,350 $ 21,495 $ 25,676
Accrual for third-party lender-owned cash advances
Balance at beginning of period $ 2,135 $ 1,828 $ 1,153
Increase in loss provision 809 307 675
Balance at end of period $ 2,944 $ 2,135 $ 1,828