Cash America 2009 Annual Report Download - page 123

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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
95
5. Property and Equipment
Major classifications of property and equipment at December 31, 2009 and 2008 were as follows (in
thousands):
2009 2008
Accumulated Accumulated
Cost Depreciation Net Cost Depreciation Net
Land $5,168 $ - $5,168 $4,955 $ - $4,955
Buildings and leasehold
improvements
164,833 (87,604) 77,229 158,529 (80,873) 77,656
Furniture, fixtures and
equipment
98,497 (66,985) 31,512 104,588 (67,470) 37,118
Computer software 110,398 (30,570) 79,828 91,632 (25,474) 66,158
Total $378,896 $(185,159) $193,737 $359,704 $(173,817) $185,887
The Company recognized depreciation expense of $35.6 million, $35.4 million and $27.7 million
during 2009, 2008 and 2007, respectively.
6. Goodwill and Other Intangible Assets
Goodwill and other intangible assets having an indefinite useful life are tested for impairment
annually at June 30, or more frequently if events or changes in circumstances indicate that the assets might be
impaired, using a two-step impairment assessment. The first step of the goodwill impairment test, used to
identify potential impairment, compares the fair value of a reporting unit with its carrying amount, including
goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is
considered not impaired, and the second step of the impairment test is not necessary. If the carrying amount
of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to
measure the amount of impairment loss, if any. The useful lives of other intangible assets must be reassessed
and the remaining amortization periods adjusted accordingly.