Cash America 2015 Annual Report Download - page 104
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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
December31,2015,2014and2013wereasfollows(dollarsinthousands):
Year Ended December 31,
2015 2014 2013
Short-term loans
Allowance for losses for Company-owned consumer loans:
Balance at beginning of period $2,736 $ 3,960 $ 4,039
Consumer loan loss provision 11,733 23,139 27,549
Charge-offs (18,592)(28,956) (32,972)
Recoveries 5,774 4,593 5,344
Balance at end of period $1,651 $ 2,736 $ 3,960
Liability for third-party lender-owned consumer loans:
Balance at beginning of period $402 $ 272 $ 308
Consumer loan loss provision (372)130 (36)
Balance at end of period $30 $ 402 $ 272
Installment loans
Allowance for losses for Company-owned consumer loans:
Balance at beginning of period $1,426 $ 951 $ 740
Consumer loan loss provision 10,446 7,840 5,652
Charge-offs (11,797)(9,229) (6,688)
Recoveries 1,170 1,864 1,247
Balance at end of period $1,245 $ 1,426 $ 951
Liability for third-party lender-owned consumer loans:
Balance at beginning of period $658 $ 758 $ 564
Consumer loan loss provision 1,298 (100) 194
Balance at end of period $1,956 $ 658 $ 758
Total consumer loans
Allowance for losses for Company-owned consumer loans:
Balance at beginning of period $4,162 $ 4,911 $ 4,779
Consumer loan loss provision 22,179 30,979 33,201
Charge-offs (30,389)(38,185) (39,660)
Recoveries 6,944 6,457 6,591
Balance at end of period $2,896 $ 4,162 $ 4,911
Liability for third-party lender-owned consumer loans:
Balance at beginning of period $1,060 $ 1,030 $ 872
Consumer loan loss provision 926 30 158
Balance at end of period $1,986 $ 1,060 $ 1,030
In connection with its CSO programs, the Company guarantees consumer loan payment obligations to
unrelated third-party lenders for short-term loans, unsecured installment loans and the remaining outstanding
installment loans that are secured by a customer’s vehicle, which the Company ceased offering in the latter half of
2015. The guarantee represents an obligation to purchase specific loans that go into default. See Note 13 for
additional information related to these guarantees.
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
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