Cash America 2009 Annual Report Download - page 82
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54
The following table shows the Company’s loss experience by quarter for 2009 and 2008:
2009
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Fiscal
Year
Combined cash advance loss provision as a % of
combined cash advances written (a)(b)
5.1% 5.5% 6.1% 5.5% 5.6%
Charge-offs (net of recoveries) as a % of combined cash
advances written (a)(b)
6.1% 4.4% 5.6% 5.1% 5.3%
Combined cash advance loss provision as a % of cash
advance fees (a)(b)
30.8% 34.5% 38.4% 36.0% 35.2%
Combined cash advances and fees receivable, gross (a)(b) $121,958 $146,345 $161,577 $187,285 $187,285
Combined allowance for losses on cash advances 18,800 24,222 27,503 30,294 30,294
Combined cash advances and fees receivable, net(a)(b) $103,158 $122,123 $134,074 $156,991 $156,991
Combined allowance for losses and accrued third-party
lender losses as a % of combined gross portfolio (a)(b)
15.4%
16.6% 17.0% 16.2% 16.2%
2008
First
Quarter
Second
Quarter
Third
Quarter
Forth
Quarter
Fiscal
Year
Combined cash advance loss provision as a % of
combined cash advances written (a)(b)
5.5% 6.5% 7.6% 7.3% 6.8%
Charge-offs (net of recoveries) as a % of combined cash
advances written (a)(b)
6.5% 5.2% 8.1% 8.0% 7.0%
Combined cash advance loss provision as a % of cash
advance fees (a)(b)
31.8% 37.4% 42.5% 42.1% 38.6%
Combined cash advances and fees receivable, gross (a)(b) $124,463 $145,653 $143,351 $140,527 $140,527
Combined allowance for losses on cash advances 22,803 29,710 27,258 23,630 23,630
Combined cash advances and fees receivable, net (a)(b) $101,660 $115,943 $116,093 $116,897 $116,897
Combined allowance for losses and accrued third-party
lender losses as a % of combined gross portfolio (a)(b) 18.3%
20.4%
19.0% 16.8% 16.8%
(a)
a
a
Non-GAAP presentation. Management evaluates the cash advance portfolio on an aggregate basis including its evaluation of the loss provision
for the Company-owned portfolio and the third-party lender-owned portfolio that the Company guarantees. The non-GAAP financial measure is
provided immediately following its most comparable GAAP amount and can be reconciled to its most comparable GAAP amount through the
presentation of the financial information above.
(b)
a
Includes (i) cash advances written by the Company, and (ii) cash advances written by third-party lenders that were marketed, processed, or
arranged by the Company on behalf of the third-party lenders, all at the Company’s pawn lending and cash advance storefront locations and
through the Company’s internet and card services channels.