Cash America 2011 Annual Report Download - page 136
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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
105
9. Accounts Payable and Accrued Expenses
Accounts payable and accrued expenses at December 31, 2011 and 2010, were as follows (dollars in
thousands):
As of December 31,
2011 2010
Trade accounts payable $ 36,710 $ 26,510
Accrued taxes, other than income taxes 5,568 4,854
Accrued payroll and fringe benefits 40,412 39,416
Accrued interest payable 1,957 1,832
Accrual for consumer loan payments rejected for non-sufficient funds 10,224 8,158
Liability for losses on third-party lender-owned consumer loans 3,062 2,838
Other accrued liabilities 15,180 12,857
Total $ 113,113 $ 96,465
10. Marketing Expenses
Marketing expenses, excluding lead purchase costs, were $41.2 million, $30.1 million and $20.3 million,
respectively, and lead purchase expense was $43.2 million, $40.5 million and $23.9 million, respectively, for the years
ended December 31, 2011, 2010 and 2009. See Note 2.
11. Long-Term Debt
The Company’s long-term debt instruments and balances outstanding at December 31, 2011 and 2010 were as
follows (dollars in thousands):
Balance at
December 31,
2011 2010
Domestic and multi-currency line of credit up to $380,000
($100,000 due 2013, $280,000 due 2015)(a) $ 280,839 $-
USD line of credit up to $300,000 due 2012 - 215,025
6.21% senior unsecured notes due 2021 22,727 25,000
6.09% senior unsecured notes due 2016 35,000 35,000
6.12% senior unsecured notes due 2012 16,667 26,667
7.26% senior unsecured notes due 2017 25,000 25,000
Variable rate senior unsecured note due 2015 50,000 -
Variable rate senior unsecured note due 2012 - 25,840
5.25% convertible senior unsecured notes due 2029 107,058 104,172
Total debt $ 537,291 $456,704
Less current portion 34,273 24,433
Total long-term debt $ 503,018 $432,271
(a)a
a
$100.0 million of the available balance matures on the earlier of May 29, 2013 or the second business day following the closing of the
initial public offering of common stock of Enova if it generates at least $350.0 million in net proceeds.
Domestic and Multi-Currency Line
On March 30, 2011, the Company entered into a new credit agreement for up to $330.0 million of credit with a
group of commercial banks (the “Original Credit Agreement”). On November 29, 2011, the Company amended the