Cash America 2013 Annual Report Download - page 34

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In 2013, revenue from the foreign component of the e-commerce segment was 48.4% of total revenue for the e-
commerce segment and 20.6% of total consolidated revenue. The total revenue in the foreign component of the e-
commerce segment was primarily derived from operations in the United Kingdom. The percentage of total revenue from
foreign e-commerce operations to total consolidated revenue has increased over the last three years from 14.3% in 2011
to 20.6% in 2013, as the Company’s e-commerce segment’s operations in the United Kingdom have grown significantly.
The Company generally experiences seasonal growth in consumer loan fees in conjunction with the growth in
loan balances that typically occurs after the heavy repayment of consumer loans with tax refund proceeds received by
customers in the United States in the first quarter each year. Due to the nature of the short-term loan product and the
high velocity of loans written and renewed, seasonal trends are evidenced in quarter-to-quarter performance. In the
typical business cycle, the consumer loan loss provision as a percent of combined consumer loans written and renewed
for short-term consumer loans is usually lowest in the first quarter and increases throughout the year. See “Item 7.
Management’s Discussion and Analysis—Combined Consumer Loans—Consumer Loan Loss Experience” for
additional information about the seasonality of consumer loan losses and for information about combined consumer
loans.
Collection activities are an important aspect of the consumer loan product offering. The Company operates
centralized collection centers to maximize loan repayment, facilitate regulatory compliance and coordinate a consistent
approach to customer service and collections.
Check Cashing and Other Financial Services
The Company provides check cashing and other ancillary products and services through its retail services
locations. Other financial services include money orders, wire transfers, prepaid debit cards, tax filing services and auto
insurance. Most of these ancillary products and services offered in the retail services segment are provided through
third-party vendors. When the Company provides a check cashing service to its customers, it charges check cashing fees
based on the type and face amount of the check being cashed. The Company receives check cashing fees from many of
its retail services locations. In addition, the Company franchises its stand-alone check cashing business, Mr. Payroll, and
each franchisee pays royalties based on the gross revenue of check cashing services provided within the franchisee’s
facility.
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Financial Information on Segments and Areas
Additional financial information regarding the Company’s operating segments and each of the geographic areas
in which the Company does business is provided in “Item 8. Financial Statements and Supplementary Data—Note 20.”
Operations
Management and Personnel
Executive Officers
The Company’s executive officers, and information about each, are listed below. There is no family relationship
between any of the executive officers.
Name Age Position
Daniel R. Feehan 63 Chief Executive Officer and President
Thomas A. Bessant, Jr. 55 Executive Vice President – Chief Financial Officer
David A. Fisher 44 Chief Executive Officer – E-Commerce Division
J. Curtis Linscott 48 Executive Vice President – General Counsel and Secretary
Daniel R. Feehan has been Chief Executive Officer and President since February 2000. He served as the
Company’s President and Chief Operating Officer from January 1990 until February 2000, except that he served as
Chairman and Co-Chief Executive Officer of one of the Company’s subsidiaries from February 1998 to February 1999
before returning to the position of President and Chief Operating Officer of the Company. Mr. Feehan became a director