Cash America 2014 Annual Report Download - page 135

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
120
18. Supplemental Disclosures of Cash Flow Information
The following table sets forth certain cash and non-cash activities for the Company’s continuing operations
for the years ended December 31, 2014, 2013 and 2012 (dollars in thousands):
Year Ended December 31,
2014
2013
2012
Cash paid during the year for:
Interest $
26,528
$
28,223
$
22,520
Income taxes
36,506
37,779
91,632
Non-cash investing and financing activities:
Pawn loans forfeited and transferred to merchandise held for disposition $
364,157
$
329,653
$
350,122
Pawn loans renewed
254,400
269,559
279,553
Consumer loans renewed
8,432
9,674
9,419
Liabilities assumed in acquisitions
—
3,132
1,207
Shares received for payment of receivables
—
—
383
Release of minority shareholders from contingent liability
—
—
2,758
Spin-off of Enova (See Note 3)
79,640
—
—
Fair value of shares issued for conversion of convertible debt (See Note 11)
31,727
—
—
19. Operating Segment Information
The Company has one reportable operating segment, which consists of the Company’s retail services
locations that offer some or all of the following services operating only in the United States: pawn loans, the
purchase and sale of merchandise (mainly forfeited collateral from pawn loans), consumer loans, check cashing,
money orders, wire transfers, prepaid debit cards and auto insurance. Most of these ancillary products and services
offered are provided through third-party vendors. Because the Company has only one reportable segment, all
required financial segment information can be found directly in the consolidated financial statements. Prior year
financial amounts shown for the Company have been reclassified to reflect the Company’s current segment
structure. The Company evaluates the performance of its reportable segment based on income from operations.
The Company previously had two segments: retail services and e-commerce. The retail services segment
included all of the operations of the Company's Retail Services Division, which was composed of both domestic and
foreign storefront locations. The e-commerce segment was comprised of all of the operations of Enova. In the fourth
quarter of 2014, following the Enova Spin-off in November 2014 and the sale of the Company’s Mexico-based
pawn operations in August 2014, the Company re-assessed its segment structure and determined that the retail
services segment is the only reportable segment and includes all of the Company's operations. Information
previously reported separately in corporate operations, which represents corporate expenses and other miscellaneous
income, has been combined with the information previously included in the retail services segment because all of
the Company's corporate expenses and other miscellaneous income support the Company's sole operating segment.
This change reflects the manner in which the Company’s Chief Executive Officer, who is the Company’s chief
operating decision maker, determines strategy and investment plans for the Company’s business. Following the
completion of these two events described above, the Company had only U.S.-based storefront business operations.
As described in Note 3, the Company has reclassified the results of operations of Enova (previously the
Company’s e-commerce segment) as discontinued operations. Historical information in the tables below exclude
amounts related to Enova.