Cash America 2013 Annual Report Download - page 151
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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
126
As of December 31, 2012
Short-term
Loans
Line of
Credit
Accounts
Installment
Loans Total
Current loans $ 146,732 $ 36,603 $ 117,641 $ 300,976
Delinquent loans 52,565 6,097 15,483 74,145
Total consumer loans, gross 199,297 42,700 133,124 375,121
Less: Allowance for losses (45,982) (11,107) (28,614) (85,703)
Consumer loans, net $ 153,315 $ 31,593 $ 104,510 $ 289,418
Changes in the allowance for losses for the Company-owned loans and the liability for estimated losses on the
Company’s guarantees of third-party lender-owned loans through the CSO programs for the years ended December 31,
2013, 2012 and 2011 were as follows (dollars in thousands):
Year Ended December 31, 2013
Short-term
Loans
Line of
Credit
Accounts
Installment
Loans Total
Allowance for losses for Company-owned consumer loans:
Balance at beginning of period $ 45,982 $ 11,107 $ 28,614 $ 85,703
Consumer loan loss provision 164,082 74,306 113,285 351,673
Charge-offs (225,816) (62,347) (123,276) (411,439)
Recoveries 40,177 6,718 15,034 61,929
Balance at end of period $ 24,425 $ 29,784 $ 33,657 $ 87,866
Liability for third-party lender-owned consumer loans:
Balance at beginning of period $ 2,934 $ - $ 564 $ 3,498
(Decrease) increase in liability (612) - 194 (418)
Balance at end of period $ 2,322 $ - $ 758 $ 3,080
Year Ended December 31, 2012
Short-term
Loans
Line of
Credit
Accounts
Installment
Loans Total
Allowance for losses for Company-owned consumer loans:
Balance at beginning of period $ 46,406 $ 3,723 $ 12,943 $ 63,072
Consumer loan loss provision 202,008 34,793 79,057 315,858
Charge-offs (241,641) (31,399) (69,438) (342,478)
Recoveries 39,209 3,990 6,052 49,251
Balance at end of period $ 45,982 $ 11,107 $ 28,614 $ 85,703
Liability for third-party lender-owned consumer loans:
Balance at beginning of period $ 2,617 $ - $ 445 $ 3,062
Increase in liability 317 - 119 436
Balance at end of period $ 2,934 $ - $ 564 $ 3,498