Cash America 2013 Annual Report Download - page 94

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The following table summarizes consumer loan balances outstanding as of December 31, 2013 and 2012 (dollars
in thousands):
As of December 31,
2013 2012
Company
Owned(a)
Guaranteed
by the
Company(a) Combined(b)
Company
Owned(a)
Guaranteed
by the
Company(a) Combined(b)
Ending consumer loan balances:
Retail Services
Short-term loans $ 49,856 $ 4,900 $ 54,756 $ 52,171 $ 7,134 $ 59,305
Installment loans 9,787 12,639 22,426 11,246 9,395 20,641
Total Retail Services, gross 59,643 17,539 77,182 63,417 16,529 79,946
E-Commerce
D
omestic
Short-term loans 33,494 41,411 74,905 38,227 44,261 82,488
Line of credit accounts 66,247 - 66,247 42,700 - 42,700
Installment loans 76,770 - 76,770 45,996 - 45,996
Total Domestic, gross 176,511 41,411 217,922 126,923 44,261 171,184
F
oreign
Short-term loans 47,886 - 47,886 108,899 3,946 112,845
Line of credit accounts 59,555 - 59,555 - - -
Installment loans 103,112 - 103,112 75,882 - 75,882
Total Foreign, gross 210,553 - 210,553 184,781 3,946 188,727
Total E-Commerce, gross 387,064 41,411 428,475 311,704 48,207 359,911
Total ending loan balance, gross 446,707 58,950 505,657 375,121 64,736 439,857
Less: Allowance and liabilities for losses (87,866) (3,080) (90,946) (85,703) (3,498) (89,201)
Total ending loan balance, net $ 358,841 $ 55,870 $ 414,711 $ 289,418 $ 61,238 $ 350,656
Allowance and liability for losses as a % of
consumer loan balances, gross 19.7% 5.2% 18.0% 22.8% 5.4% 20.3%
(
a
)
GAAP measure. The consumer loan balances guaranteed by the Company represent loans originated by third-
party lenders through the CSO programs, so these balances are not recorded in the Company’s financial
statements. However, the Company has established a liability for estimated losses in support of its guarantee of
these loans, which is reflected in the table above and included in its consolidated balance sheets.
(b)
Except for allowance and liability for estimated losses, amounts represent non-GAAP measures.
Consumer Loans Written and Renewed
The amount of combined consumer loans written and renewed was $3.44 billion in 2013, an increase of $26.3
million from $3.42 billion in 2012. The Company is experiencing a slower rate of growth in short-term consumer loans
written and renewed than historically reported, as installment loans and line of credit balances comprise a greater
percentage of consumer loans due to customers’ preference for these products over the Company’s short-term consumer
loan product. Management believes that the consumer loans written and renewed statistics are becoming less meaningful
than the change in the balances of consumer loans outstanding, which have increased from 2012 to 2013 and will
influence revenue in future periods.