Cash America 2013 Annual Report Download - page 136

See notes to consolidated financial statements.
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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(dollars in thousands)
Year Ended December 31,
2013 2012 2011
Cash Flows from Operating Activities
Net Income $142,836 $ 101,664 $ 135,166
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expenses 73,271 75,428 54,149
Amortization of debt discount and issuance costs 6,206 3,811 3,566
Consumer loan loss provision 351,255 316,294 225,688
Stock-based compensation 4,908 4,804 4,934
Deferred income taxes, net 8,857 (3,521) 25,563
Excess income tax benefit from stock-based compensation (595) (2,638) (1,040)
Other 3,014 8,601 2,884
Changes in operating assets and liabilities, net of assets acquired:
Merchandise other than forfeited 7,308 10,229 (7,150)
Pawn loan fees and service charges receivable (680) 1,312 (5,707)
Finance and service charges on consumer loans (4,823) (8,218) (9,426)
Restricted cash (8,000) - -
Prepaid expenses and other assets (577) (284) 2,337
Accounts payable and accrued expenses 16,601 14,038 9,916
Current and noncurrent income taxes (14,738) (3,676) 12,524
Other operating assets and liabilities 1,587 437 600
Net cash provided by operating activities 586,430 518,281 454,004
Cash Flows from Investing Activities
Pawn loans made (745,103) (760,925) (779,668)
Pawn loans repaid 422,855 426,583 408,105
Principal recovered through dispositions of forfeited pawn loans 288,684 336,791 316,651
Consumer loans made or purchased (2,079,418) (1,912,962) (1,621,836)
Consumer loans repaid 1,658,930 1,537,930 1,324,807
Acquisitions, net of cash acquired (165,284) (78,217) (49,539)
Purchases of property and equipment (61,272) (79,399) (75,049)
Proceeds from sale of marketable securities 6,616 - -
Proceeds from sale of assets - 5,471 -
Investment in equity securities - (1,000) (5,000)
Other investing activities 776 (926) (515)
Net cash used in investing activities (673,216) (526,654) (482,044)
Cash Flows from Financing Activities
Net (payments) borrowings under bank lines of credit (107,294) 20,172 65,814
Issuance of long-term debt 300,000 52,000 50,000
Net proceeds from re-issuance of treasury shares - 1,784 403
Debt issuance costs paid (10,406) (440) (2,902)
Payments on/repurchases of notes payable (41,990) (34,272) (38,113)
Excess income tax benefit from stock-based compensation 595 2,638 1,040
Treasury shares purchased (47,631) (25,133) (20,488)
Dividends paid (3,981) (4,096) (4,111)
Purchase of noncontrolling interest (4) (5,625) -
Net cash provided by financing activities 89,289 7,028 51,643
Effect of exchange rates on cash 3,601 1,937 615
Net increase in cash and cash equivalents 6,104 592 24,218
Cash and cash equivalents at beginning of year 63,134 62,542 38,324
Cash and cash equivalents at end of period $69,238 63,134 62,542