Cash America 2013 Annual Report Download - page 149

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
124
The allocation of the purchase price for this acquisition is as follows (dollars in thousands):
Pawn loans $ 7,057
Merchandise held for disposition 7,534
Pawn loan fees and service charges receivable 1,506
Property and equipment 631
Goodwill  31,521
Intangible assets(a) 8,000
Customer deposits (1,158)
Total consideration paid for acquisition$ 55,091
(
a
)
Includes $7.0 million related to customer relationships being amortized over seven years and $1.0 million related to a non-
competition agreement being amortized over five years.
Pawn Partners Acquisition
In November 2011, the Company entered into an agreement to acquire substantially all of the assets of Pawn
Partners, Inc., Pawn Partners -Tucson, Inc., Pawn Partners—Tucson II, Inc., Pawn Partners—Tucson 3, Inc., Pawn
Partners—Tucson 4, Inc. and Pawn Partners—Yuma, Inc. (collectively, “Pawn Partners”) (the “Pawn Partners
acquisition”). The Company assumed the economic benefits of these pawnshops by operating them under a management
arrangement that commenced on November 30, 2011, and the final closing occurred in the first quarter of 2012. The
acquisition included a seven-store chain of pawn lending locations located in Tucson, Flagstaff and Yuma, Arizona. The
aggregate cash consideration for the transaction, which was funded with borrowings under the Company’s line of credit,
was $53.6 million. The Company incurred acquisition costs of $0.1 million related to the acquisition.
The purchase price of the Pawn Partners acquisition was allocated as follows (dollars in thousands):
Pawn loans $ 10,657
Merchandise held for disposition 5,485
Pawn loan fees and service charges receivable 1,424
Property and equipment  70
Goodwill  26,679
Intangible assets(a) 9,570
Other liabilities (99)
Customer deposits (225)
N
et assets acquire
d
$ 53,561
Cash consideration payable as of December 31, 2011 (4,300)
Total cash paid for acquisition as of December 31, 2011 $ 49,261
Cash paid in 2012 upon receipt of regulatory licenses 4,300
Total consideration paid for acquisition$ 53,561
(
a
)
Includes $7.0 million related to customer relationships being amortized over eight years, $2.5 million related to a non-
competition agreement being amortized over five years and $0.1 million related to leasehold interest being amortized over
ten years.
Other
In addition to the acquisitions discussed above, the Company acquired one, three and one domestic retail
services locations for $0.7 million, $3.2 million and $0.3 million during the years ended December 31, 2013, 2012 and
2011, respectively.
