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GREEN DOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)
69
Note 5—Loans to Bank Customers (continued)
Allowance for Loan Losses
Activity in the allowance for loan losses consisted of the following:
Year Ended December 31,
2013 2012 2011
(In thousands)
Balance, beginning of period $475 $—$—
Provision for loans —698 —
Loans charged off (25)(223)—
Recoveries of loans previously charged off 14 — —
Balance, end of period $464 $475 $—
Note 6—Property and Equipment
Property and equipment consisted of the following:
December 31,
2013 2012
(In thousands)
Land $205 $205
Building 461 543
Computer equipment, furniture, and office equipment 34,508 23,690
Computer software purchased 13,123 10,914
Capitalized internal-use software 62,871 52,501
Tenant improvements 7,482 7,076
118,650 94,929
Less accumulated depreciation and amortization (58,177) (36,553)
Property and equipment, net $60,473 $58,376
Depreciation and amortization expense was $27.1 million, $18.1 million and $12.3 million for the years ended
December 31, 2013, 2012 and 2011, respectively. Included in those amounts are depreciation expense related to
internal-use software of $15.0 million, $9.7 million and $6.0 million for the years ended December 31, 2013, 2012 and
2011, respectively. During the year ended December 31, 2013 we had impairments of $5.2 million associated with
capitalized internal-use software we determined were no longer viable. The net carrying value of capitalized internal-
use software was $28.1 million, and $30.3 million at December 31, 2013 and 2012, respectively.
Note 7—Goodwill and Intangible Assets
Goodwill and intangible assets on our consolidated balance sheets consisted of the following:
December 31,
2013 2012
(In thousands)
Goodwill $27,250 $27,250
Intangible assets, net 3,426 3,554
Goodwill and intangible assets 30,676 30,804