Cash America 2011 Annual Report Download - page 96

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65
aggregate basis. Management believes that the comparison of the aggregate amounts from period to period is more
meaningful than comparing only the residual amount on the Company’s balance sheet since both revenue and the loss
provision for loans are impacted by the aggregate amount of loans owned by the Company and those guaranteed by the
Company as reflected in its financial statements.
Consumer loan balances. The outstanding combined portfolio balance of consumer loans, net of allowances
and liability for estimated losses, increased $33.4 million, or 21.5%, to $189.1 million at December 31, 2010 from
$155.7 million at December 31, 2009, primarily due to increased demand for consumer loan products in the e-commerce
segment.
The combined loan balance includes $178.3 million and $136.1 million at December 31, 2010 and 2009,
respectively, of Company-owned consumer loan balances, before the allowance for losses of $38.9 million and $27.3
million, which has been provided in the consolidated financial statements for December 31, 2010 and 2009, respectively.
The combined loan balance also includes $52.6 million and $49.9 million at December 31, 2010 and 2009, respectively,
of consumer loan balances that are guaranteed by the Company, which are not included in the Company’s financial
statements, before the liability for estimated losses of $2.8 million and $2.9 million, which has been provided in the
consolidated financial statements for December 31, 2010 and 2009, respectively.
The following table summarizes consumer loan balances outstanding as of December 31, 2010 and 2009 (dollars
in thousands):
As of December 31,
2010 2009
Company
Owned(a)
Guaranteed
by the
Company(a) Combined(b)
Company
Owned(a)
Guaranteed
by the
Company(a) Combined(b)
Ending consumer loan balances:
Retail Services
Short-term loans $ 49,267 $ 9,819 $ 59,086 $ 51,986 $ 11,688 $ 63,674
Installment loans 2,686 3,800 6,486 - - -
Total Retail Services, gross 51,953 13,619 65,572 51,986 11,688 63,674
E-Commerce
D
omestic
Short-term loans 52,019 37,082 89,101 42,201 37,637 79,838
Installment loans 11,023 - 11,023 3,126 - 3,126
MLOC 1,510 - 1,510 11,553 - 11,553
Total Domestic, gross 64,552 37,082 101,634 56,880 37,637 94,517
F
oreign
Short-term loans 57,848 1,867 59,715 27,273 537 27,810
Installment loans 3,977 - 3,977 - - -
Total Foreign, gross 61,825 1,867 63,692 27,273 537 27,810
Total E-Commerce, gross 126,377 38,949 165,326 84,153 38,174 122,327
Total ending loan balance, gross 178,330 52,568 230,898 136,139 49,862 186,001
Less: Allowance and liabilities for losses (38,953) (2,838) (41,791) (27,350) (2,944) (30,294)
Total ending loan balance, net $ 139,377 $ 49,730 $ 189,107 $ 108,789 $ 46,918 $ 155,707
(a) GAAP measure. The consumer loan balances guaranteed by the Company represents loans originated by third-party lenders
through the CSO programs, which are not recorded in the Company’s financial statements.
(b) Except for allowance and liability for estimated losses, amounts represent non-GAAP measures.