Cash America 2013 Annual Report Download - page 177
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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
152
Fair Value Measurements on a Non-Recurring Basis
The Company measures non-financial assets and liabilities such as property and equipment and intangible assets at
fair value on a nonrecurring basis or when events or circumstances indicate that the carrying amount of the assets may be
impaired. During the third quarter of 2012, the Company announced the reorganization of the Company’s Mexico-based
pawn lending operations. See Note 23 for impairment charges recognized during 2012 related to this reorganization.
Financial Assets and Liabilities Not Measured at Fair Value
The Company’s financial assets and liabilities as of December 31, 2013 and 2012 that are not measured at fair value
in the consolidated balance sheets are as follows (dollars in thousands):
Carrying Value Estimated Fair Value
December 31, December 31, Fair Value Measurement Using
2013 2013 Level 1 Level 2 Level 3
Financial assets:
Cash and cash equivalents $ 69,238 $ 69,238 $ 69,238 $ - $ -
Pawn loans 261,148 261,148 - - 261,148
Short-term loans and
line of credit accounts, net(a) 202,829 202,829 - - 202,829
Installment loans, net(a) 156,012 156,012 - - 156,012
Pawn loan fees and service
charges receivable 53,438 53,438 - - 53,438
Total $ 742,665 $ 742,665 $ 69,238 $ - $ 673,427
Financial liabilities:
Liability for estimated
losses on consumer loans
guaranteed by the Company $ 3,080 $ 3,080 $ - $ - $ 3,080
Domestic and Multi-currency
Line of credit 193,717 207,426 - 207,426 -
Senior unsecured notes 444,515 430,554 - 430,554 -
2029 Convertible Notes 101,757 155,788 - 155,788 -
Total $ 743,069 $ 796,848 $ - $ 793,768 $ 3,080