Cash America 2013 Annual Report Download - page 110

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$63.1 million provided in the consolidated financial statements for December 31, 2012 and 2011, respectively. The
combined loan balance also includes $64.7 million and $59.4 million at December 31, 2012 and 2011, 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 $3.5 million and $3.1 million provided in the consolidated
financial statements for December 31, 2012 and 2011, respectively.
The following table summarizes consumer loan balances outstanding as of December 31, 2012 and 2011 (dollars
in thousands):
As of December 31,
2012 2011
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 $ 52,171 $ 7,134 $ 59,305 $ 53,601 $ 9,237 $ 62,838
Installment loans 11,246 9,395 20,641 9,262 7,425 16,687
Total Retail Services, gross 63,417 16,529 79,946 62,863 16,662 79,525
E-Commerce
D
omestic
Short-term loans 38,227 44,261 82,488 39,232 39,341 78,573
Line of credit accounts 42,700 - 42,700 21,648 - 21,648
Installment loans 45,996 - 45,996 24,582 - 24,582
Total Domestic, gross 126,923 44,261 171,184 85,462 39,341 124,803
F
oreign
Short-term loans 108,899 3,946 112,845 101,723 3,420 105,143
Installment loans 75,882 - 75,882 35,802 - 35,802
Total Foreign, gross 184,781 3,946 188,727 137,525 3,420 140,945
Total E-Commerce, gross 311,704 48,207 359,911 222,987 42,761 265,748
Total ending loan balance, gross 375,121 64,736 439,857 285,850 59,423 345,273
Less: Allowance and liabilities for losses (85,703) (3,498) (89,201) (63,072) (3,062) (66,134)
Total ending loan balance, net $ 289,418 $ 61,238 $ 350,656 $ 222,778 $ 56,361 $ 279,139
Allowance and liability for losses as a % of
consumer loan balances, gross 22.8% 5.4% 20.3% 22.1% 5.2% 19.2%
(
a
)
GAAP measure. The consumer loan balances guaranteed by the Company represent loans originated by third-party lenders through
the CSO programs, so these balances are not recorded in the Company’s financial statements. However, the Company has
established a liability for estimated losses in support of its guarantee of these loans, which is reflected in the table above and
included in its consolidated balance sheets.
(b)
Except for allowance and liability for estimated losses, amounts represent non-GAAP measures.
Consumer Loans Written and Renewed
The amount of combined consumer loans written and renewed was $3.42 billion in 2012 and increased $384.5
million, or 12.7%, from $3.03 billion in 2011, mainly due to an increase in demand for all consumer loan products from
the e-commerce segment in domestic and foreign markets.