Cash America 2009 Annual Report Download - page 143

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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
115
Year Ended December 31, 2007
Pawn
Lending (2)
Cash
Advance (3)
Check
Cashing
Consolidated (4)
Revenue
Finance and service charges $ 160,960 $ - $ - $ 160,960
Proceeds from disposition of merchandise 396,821 - - 396,821
Cash advance fees 42,018 313,178 - 355,196
Check cashing fees, royalties and other 3,268 9,530 3,619 16,417
Total revenue 603,067 322,708 3,619 929,394
Cost of revenue – disposed merchandise 246,792 - - 246,792
Net revenue 356,275 322,708 3,619 682,602
Expenses
Operations 198,526 109,186 1,270 308,982
Cash advance loss provision 14,985 140,253 - 155,238
Administration 26,988 24,801 959 52,748
Depreciation and amortization 20,750 10,988 387 32,125
Total expenses 261,249 285,228 2,616 549,093
Income from operations $ 95,026 $ 37,480 $ 1,003 $ 133,509
Interest expense $ (6,522) $ (8,625) $ (874) $ (16,021)
Provision for income taxes $ 34,886 $ 10,285 $ 248 $ 45,419
Expenditures for property and equipment(1) $ 52,559 $ 17,389 $ 149 $ 70,097
As of December 31, 2007
Total assets $ 593,514 $ 304,170 $ 6,960 $ 904,644
Goodwill $143,556 $157,355 $5,310 $306,221
1) Included in “Expenditures for property and equipment” for the Pawn Lending segment for the years ended December 31, 2009, 2008
and 2007 are substantially all of the capital expenditures for the development of the new proprietary point-of sale system software and
other general corporate investment expenditures. The Company may allocate these capital expenditures to other segments once the new
point-of-sale system has been deployed.
2) The Pawn Lending segment is composed of the Company’s domestic pawn lending operations and Prenda Fácil. The following
table summarizes the results from each channel’s contributions to the Pawn Lending segment for the years ended December 31,
2009, 2008 and 2007. The average exchange rate of MXN (Mexican pesos) to USD was 13.493 for the year ending December 31,
2009 and 13.351 for the time period of December 16, 2008, to December 31, 2008: