Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 20, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'CASH AMERICA INTERNATIONAL INC | ' |
Entity Central Index Key | '0000807884 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 28,887,396 |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Assets, Current [Abstract] | ' | ' | ' |
Cash and cash equivalents | $123,532 | $67,228 | $80,359 |
Restricted cash | 60 | 8,000 | 0 |
Pawn loans | 264,612 | 261,148 | 253,678 |
Consumer loans, net | 348,225 | 358,841 | 328,281 |
Merchandise held for disposition, net | 215,263 | 208,899 | 193,115 |
Pawn loan fees and service charges receivable | 54,501 | 53,438 | 50,090 |
Income taxes receivable | 0 | 9,535 | 10,931 |
Prepaid expenses and other assets | 33,871 | 33,655 | 28,840 |
Deferred tax assets | 36,076 | 38,800 | 46,429 |
Total current assets | 1,076,140 | 1,039,544 | 991,723 |
Property and equipment, net | 245,382 | 261,223 | 257,787 |
Goodwill | 699,061 | 705,579 | 670,037 |
Intangible assets, net | 47,490 | 52,256 | 46,860 |
Other assets | 32,272 | 21,129 | 21,185 |
Total assets | 2,100,345 | 2,079,731 | 1,987,592 |
Current liabilities: | ' | ' | ' |
Accounts payable and accrued expenses | 141,351 | 140,068 | 133,736 |
Customer deposits | 19,271 | 14,803 | 15,123 |
Income taxes currently payable | 1,399 | 0 | 0 |
Current portion of long-term debt | 0 | 22,606 | 22,606 |
Total current liabilities | 162,021 | 177,477 | 171,465 |
Deferred tax liabilities | 110,624 | 101,417 | 96,286 |
Other liabilities | 1,124 | 1,031 | 1,287 |
Long-term debt | 700,043 | 717,383 | 660,243 |
Total liabilities | 973,812 | 997,308 | 929,281 |
Stockholders Equity [Abstract] | ' | ' | ' |
Common stock, $0.10 par value per share, 80,000,000 shares authorized, 30,235,164 shares issued and outstanding | 3,024 | 3,024 | 3,024 |
Additional paid-in capital | 87,718 | 150,833 | 152,872 |
Retained earnings | 1,091,629 | 1,017,981 | 991,682 |
Accumulated other comprehensive income (loss) | 2,073 | 4,649 | 2,614 |
Treasury shares, at cost (1,379,345 shares, 2,164,873 shares and 2,224,902 shares as of September 30, 2014 and 2013, and as of December 31, 2013, respectively) | -57,911 | -94,064 | -91,881 |
Total equity | 1,126,533 | 1,082,423 | 1,058,311 |
Total liabilities and equity | $2,100,345 | $2,079,731 | $1,987,592 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
Statement of Financial Position [Abstract] | ' | ' | ' |
Common stock, par value per share | $0.10 | $0.10 | $0.10 |
Common stock, shares authorized | 80,000,000 | 80,000,000 | 80,000,000 |
Common stock, shares issued | 30,235,164 | 30,235,164 | 30,235,164 |
Treasury shares, at cost | 1,379,345 | 2,224,902 | 2,164,873 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Revenues [Abstract] | ' | ' | ' | ' | ||||
Pawn loan fees and service charges | $85,313 | $79,298 | $246,490 | $227,940 | ||||
Proceeds from disposition of merchandise | 155,087 | 128,660 | 478,314 | 438,909 | ||||
Consumer loan fees | 229,435 | 227,563 | 688,956 | 640,199 | ||||
Other | 2,343 | 2,280 | 6,608 | 9,261 | ||||
Total revenue | 472,178 | 437,801 | 1,420,368 | 1,316,309 | ||||
Cost of Revenue [Abstract] | ' | ' | ' | ' | ||||
Disposed merchandise | 114,293 | 91,101 | 343,367 | 301,397 | ||||
Consumer loan loss provision | 81,533 | 99,693 | 229,722 | 251,774 | ||||
Total Cost of Revenue | 195,826 | 190,794 | 573,089 | 553,171 | ||||
Gross Profit [Abstract] | ' | ' | ' | ' | ||||
Net revenue | 276,352 | 247,007 | 847,279 | 763,138 | ||||
Operating Expenses [Abstract] | ' | ' | ' | ' | ||||
Operations and administration | 205,731 | 199,705 | 592,292 | 553,471 | ||||
Loss on Divestitures | 5,176 | 0 | 5,176 | 0 | ||||
Depreciation and amortization | 20,444 | 18,783 | 59,202 | 54,314 | ||||
Total Expenses | 231,351 | 218,488 | 656,670 | 607,785 | ||||
Operating Income (Loss) [Abstract] | ' | ' | ' | ' | ||||
Income from Operations | 45,001 | 28,519 | 190,609 | 155,353 | ||||
Income from Continuing Operations | ' | ' | ' | ' | ||||
Interest expense | -17,467 | -9,260 | -40,363 | -25,608 | ||||
Interest income | 10 | 1 | 28 | 69 | ||||
Foreign currency transaction loss | -159 | -741 | -439 | -1,053 | ||||
Loss on early extinguishment of debt | -5,991 | -346 | -22,553 | -346 | ||||
Equity in loss of unconsolidated subsidiary | 0 | 0 | 0 | -136 | ||||
Income from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | ' | ' | ' | ' | ||||
Income before Income Taxes | 21,394 | 18,173 | 127,282 | 128,279 | ||||
Provision (benefit) for income taxes | 11,478 | -28,013 | 50,658 | 12,727 | ||||
Net Income, Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ||||
Net Income | 9,916 | 46,186 | 76,624 | 115,552 | ||||
Net Income (Loss) Attributable to Parent [Abstract] | ' | ' | ' | ' | ||||
Net income attributable to the noncontrolling interest | 0 | 0 | 0 | -308 | ||||
Net Income Attributable to Cash America International, Inc. | $9,916 | $46,186 | $76,624 | $115,244 | ||||
Earnings Per Share: | ' | ' | ' | ' | ||||
Basic (in dollars per share) | $0.34 | $1.62 | $2.66 | $4.01 | ||||
Diluted (in dollars per share) | $0.34 | $1.52 | $2.61 | $3.73 | ||||
Weighted Average Number of Shares Outstanding, Basic [Abstract] | ' | ' | ' | ' | ||||
Basic (in shares) | 29,186 | [1] | 28,426 | [1] | 28,808 | [1] | 28,747 | [1] |
Diluted (in shares) | 29,312 | [2] | 30,379 | [2] | 29,371 | [2] | 30,857 | [2] |
Dividends declared per common share | $0.04 | $0.04 | $0.11 | $0.11 | ||||
[1] | Includes (i) vested and deferred restricted stock units of 299 and 301, as well as 32 and 31 shares held in the Companybs nonqualified savings plan for the three months ended September 30, 2014 and 2013, respectively | |||||||
[2] | There were no anti-dilutive shares for the three months ended SeptemberB 30, 2014 and 5 anti-dilutive shares for the nine months ended SeptemberB 30, 2014, respe |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||
Net Income (Loss) Attributable to Parent [Abstract] | ' | ' | ' | ' | ||
Net income | $9,916 | $46,186 | $76,624 | $115,552 | ||
Other comprehensive gain (loss), net of tax: | ' | ' | ' | ' | ||
Foreign currency translation gain (loss) | -5,925 | [1] | 2,976 | [1] | -2,576 | -371 |
Marketable Securities | 0 | [2] | 0 | [2] | 0 | -254 |
Total other comprehensive (loss) gain, net of tax | -5,925 | 2,976 | -2,576 | -625 | ||
Comprehensive income | 3,991 | 49,162 | 74,048 | 114,927 | ||
Net income attributable to the noncontrolling interest | 0 | 0 | 0 | -308 | ||
Foreign currency translation loss, net of tax, attributable to the noncontrolling interest | 0 | 0 | 0 | 111 | ||
Comprehensive income attributable to the noncontrolling interest | 0 | 0 | 0 | -197 | ||
Comprehensive income attributable to Cash America International, Inc. | $3,991 | $49,162 | $74,048 | $114,730 | ||
[1] | Net of tax (provision) benefit of $2,809 and $(1,977) for the three months ended September 30, 2014 and 2013, respectively, and $1,254 and $(238) for the nine months ended SeptemberB 30, 2014 and 2013, respectively. | |||||
[2] | Net of tax benefit of $136 for the nine months ended SeptemberB 30, 2013. |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Tax (provision)/ benefit of foreign currency translation gain | $2,809 | ($1,977) | $1,254 | ($238) |
Tax (provision)/benefit of marketable securities unrealized gain | ' | ' | ' | $136 |
Consolidated_Statements_Of_Equ
Consolidated Statements Of Equity (USD $) | Total | Common Stock | Additional paid-in capital | Retained earnings | Accumulated other comprehensive income (loss) | Treasury shares, at cost | Total share- holdersb equity | Non- controlling interest |
In Thousands, except Share data, unless otherwise specified | ||||||||
Beginning Balance at Dec. 31, 2012 | $990,620 | $3,024 | $157,613 | $879,434 | $3,128 | ($51,304) | $991,895 | ($1,275) |
Beginning Balance, in shares, at Dec. 31, 2012 | ' | -30,235,164 | ' | ' | ' | -1,351,712 | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued under stock-based plans | 0 | ' | ' | ' | ' | 4,871 | 0 | ' |
Shares issued under stock-based plans, in shares | ' | ' | ' | ' | ' | 127,087 | ' | ' |
Adjustments to APIC, stock-based plans | ' | ' | -4,871 | ' | ' | ' | ' | ' |
Stock-based compensation expense | 3,899 | ' | 3,899 | ' | ' | ' | 3,899 | ' |
Income tax benefit from stock-based compensation | 595 | ' | 595 | ' | ' | ' | 595 | ' |
Adjustments to APIC, Equity Component of Convertible Debt | -4,573 | ' | -4,573 | ' | ' | ' | -4,573 | ' |
Net income attributable to Cash America International, Inc. | 115,244 | ' | ' | 115,244 | ' | ' | 115,244 | ' |
Dividends paid | -2,996 | ' | ' | -2,996 | ' | ' | -2,996 | ' |
Foreign currency translation gain (loss), net of tax | -371 | ' | ' | ' | -260 | ' | -260 | -111 |
Marketable Securities | -254 | ' | ' | ' | -254 | ' | -254 | ' |
Purchases of treasury shares, in shares | ' | ' | ' | ' | ' | -940,248 | ' | ' |
Purchases of treasury shares | -45,448 | ' | ' | ' | ' | -45,448 | -45,448 | ' |
Loss attributable to the noncontrolling interest | 308 | ' | ' | ' | ' | ' | ' | 308 |
Purchase of noncontrolling interest | 1,287 | ' | 209 | ' | ' | ' | 209 | 1,078 |
Balance at Sep. 30, 2013 | 1,058,311 | 3,024 | 152,872 | 991,682 | 2,614 | -91,881 | 1,058,311 | ' |
Balance, in shares, at Sep. 30, 2013 | ' | -30,235,164 | ' | ' | ' | -2,164,873 | ' | ' |
Beginning Balance at Dec. 31, 2013 | 1,082,423 | 3,024 | 150,833 | 1,017,981 | 4,649 | -94,064 | 1,082,423 | ' |
Beginning Balance, in shares, at Dec. 31, 2013 | ' | -30,235,164 | ' | ' | ' | -2,224,902 | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued under stock-based plans | 0 | ' | ' | ' | ' | 5,836 | 0 | ' |
Shares issued under stock-based plans, in shares | ' | ' | ' | ' | ' | 135,046 | ' | ' |
Adjustments to APIC, stock-based plans | ' | ' | -5,836 | ' | ' | ' | ' | ' |
Stock-based compensation expense | 4,825 | ' | 4,825 | ' | ' | ' | 4,825 | ' |
Income tax benefit from stock-based compensation | -110 | ' | -110 | ' | ' | ' | -110 | ' |
Adjustments to APIC, Equity Component of Convertible Debt | -30,267 | ' | -61,994 | ' | ' | ' | -30,267 | ' |
Stock Issued During Period, Value, Conversion of Convertible Securities, | ' | ' | ' | ' | ' | 31,727 | ' | ' |
Stock Issued During Period, Shares, Conversion of Convertible Securities | 747,085 | ' | ' | ' | ' | 747,085 | ' | ' |
Net income attributable to Cash America International, Inc. | 76,624 | ' | ' | 76,624 | ' | ' | 76,624 | ' |
Dividends paid | -2,976 | ' | ' | -2,976 | ' | ' | -2,976 | ' |
Foreign currency translation gain (loss), net of tax | -2,576 | ' | ' | ' | -2,576 | ' | -2,576 | ' |
Marketable Securities | 0 | ' | ' | ' | ' | ' | ' | ' |
Purchases of treasury shares, in shares | ' | ' | ' | ' | ' | -36,574 | ' | ' |
Purchases of treasury shares | -1,410 | ' | ' | ' | ' | -1,410 | -1,410 | ' |
Loss attributable to the noncontrolling interest | 0 | ' | ' | ' | ' | ' | ' | ' |
Balance at Sep. 30, 2014 | $1,126,533 | $3,024 | $87,718 | $1,091,629 | $2,073 | ($57,911) | $1,126,533 | ' |
Balance, in shares, at Sep. 30, 2014 | ' | -30,235,164 | ' | ' | ' | -1,379,345 | ' | ' |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Net Cash Provided by (Used in) Operating Activities [Abstract] | ' | ' |
Net Income | $76,624 | $115,552 |
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] | ' | ' |
Depreciation and amortization | 59,202 | 54,314 |
Amortization of debt discount and issuance costs | 3,845 | 4,665 |
Consumer loan loss provision | 229,722 | 251,774 |
Stock-based compensation | 4,825 | 3,899 |
Deferred income taxes, net | 13,186 | -2,963 |
Excess income tax benefit from stock-based compensation | 0 | -595 |
Non-cash loss (gain) on extinguishment of debt | 3,090 | 0 |
Non-cash loss (gain) on divestitures | 5,176 | 0 |
Other | 5,954 | 1,267 |
Changes in operating assets and liabilities, net of assets acquired: | ' | ' |
Merchandise other than forfeited | 2,841 | 7,011 |
Pawn loan fees and service charges receivable | -1,935 | 1,025 |
Finance and service charges on consumer loans | 4,241 | -3,773 |
Restricted Cash | 7,940 | 0 |
Prepaid expenses and other assets | -3,946 | 1,920 |
Accounts payable and accrued expenses | 6,668 | 10,913 |
Current and noncurrent income taxes | 10,504 | -16,025 |
Other operating assets and liabilities | 4,862 | 2,335 |
Net cash provided by operating activities | 432,799 | 431,319 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ' | ' |
Pawn loans made | -626,524 | -552,280 |
Pawn loans repaid | 349,896 | 320,055 |
Principal recovered through dispositions of forfeited pawn loans | 243,818 | 209,399 |
Consumer loans made or purchased | -1,486,523 | -1,512,668 |
Consumer loans repaid | 1,260,713 | 1,222,379 |
Acquisitions, net of cash acquired | -1,204 | -104,668 |
Purchases of property and equipment | -42,454 | -43,006 |
Proceeds from Sale of Available-for-sale Securities | 0 | 6,616 |
Proceeds from Divestiture of Businesses, Net of Cash Divested | 21,534 | 0 |
Other investing activities | -307 | 1,182 |
Net cash used in investing activities | -281,051 | -452,991 |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ' | ' |
Net payments under bank lines of credit | -184,165 | -180,786 |
Issuance of long-term debt | 493,810 | 300,000 |
Debt issuance costs paid | -16,731 | -9,941 |
Payments on/repurchases of notes payable | -380,450 | -21,787 |
Excess income tax benefit from stock-based compensation | 0 | 595 |
Treasury shares purchased | -1,410 | -45,448 |
Dividends paid | -2,976 | -2,996 |
Purchase Of Noncontrolling Interest | 0 | -4 |
Net cash provided by (used in) financing activities | -91,922 | 39,633 |
Effect of exchange rates on cash | -3,522 | 1,024 |
Net increase in cash and cash equivalents | 56,304 | 18,985 |
Cash and cash equivalents at beginning of year | 67,228 | 61,374 |
Cash and cash equivalents at end of period | 123,532 | 80,359 |
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract] | ' | ' |
Pawn loans forfeited and transferred to merchandise held for disposition | 265,274 | 237,685 |
Pawn loans renewed | 193,750 | 197,781 |
Consumer loans renewed | 250,789 | 487,258 |
Fair value of shares paid for conversion of convertible debt | $31,727 | $0 |
Significant_Accounting_Policie
Significant Accounting Policies | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||
Significant Accounting Policies | ' | ||||||||||||||||||||||||
1. Significant Accounting Policies | |||||||||||||||||||||||||
Basis of Presentation | |||||||||||||||||||||||||
The consolidated financial statements include all of the accounts of Cash America International, Inc. and its subsidiaries (collectively, the “Company”). All significant intercompany accounts and transactions have been eliminated in consolidation. | |||||||||||||||||||||||||
The financial statements presented as of September 30, 2014 and 2013 and December 31, 2013 and for the three- and nine-month periods ended September 30, 2014 and 2013 are unaudited but, in management’s opinion, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for such interim periods. The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by generally accepted accounting principles in the United States of America (“GAAP”). Operating results for the three- and nine-month periods are not necessarily indicative of the results that may be expected for the full fiscal year. Certain amounts in the consolidated financial statements for the three and nine months ended September 30, 2013 and as of September 30, 2014 and 2013 and as of December 31, 2013 have been reclassified to conform to the current year presentation. These reclassifications have no effect on the net income previously reported. See “Revision of Prior Period Financial Statements” for further discussion. | |||||||||||||||||||||||||
These financial statements and related notes should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||
The Company considers cash on hand in operating locations, deposits in banks and short-term investments with original maturities of 90 days or less as cash and cash equivalents. | |||||||||||||||||||||||||
Goodwill and Other Indefinite-Lived Intangible Assets | |||||||||||||||||||||||||
Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. In accordance with Accounting Standards Codification (“ASC”) 350-20-35, Goodwill - Subsequent Measurement, the Company tests goodwill and intangible assets with an indefinite life for potential impairment annually as of June 30 and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. | |||||||||||||||||||||||||
The Company uses the income approach to complete its annual goodwill assessment. The income approach uses expected future cash flows and estimated terminal values for each of the Company’s reporting units that are discounted using a market participant perspective to determine the estimated fair value of each reporting unit, which is then compared to the carrying value of that reporting unit to determine if there is impairment. The income approach includes assumptions about revenue growth rates, operating margins and terminal growth rates discounted by an estimated weighted-average cost of capital derived from other publicly-traded companies that are similar but not identical from an operational and economic standpoint. The Company completed its annual assessment of goodwill as of June 30, 2014 and determined that the fair value of its goodwill is in excess of carrying value, and, as a result, no impairment existed at that date. See Note 2 for a discussion of the goodwill assessment completed in August 2014 as a result of the divestiture of the Company's Mexico-based pawn operations. | |||||||||||||||||||||||||
The Company performed its annual indefinite-lived intangible asset impairment test as of June 30, 2014. The Company elected to perform a qualitative assessment in accordance with Accounting Standards Update (“ASU”) No. 2012-02, Intangibles-Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment (“ASU 2012-02”), and determined that it was not more likely than not that the indefinite-lived intangible assets are impaired. Therefore, no further quantitative assessment was required. | |||||||||||||||||||||||||
Adopted Accounting Standards | |||||||||||||||||||||||||
In April 2014, the Financial Accounting Standards Board (the “FASB”) issued ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). The amendments in ASU 2014-08 change the criteria for reporting discontinued operations and enhance disclosures in this area. The new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income or loss attributable to a disposal of an individually significant component of an organization that does not qualify for discontinued operations presentation in the financial statements. The Company is required to adopt ASU 2014-08 prospectively for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014 and interim periods within those years. Early adoption is permitted. The Company adopted ASU 2014-08 on June 30, 2014, and the adoption did not have a material effect on its financial position or results of operations. | |||||||||||||||||||||||||
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”), which provides guidance on the presentation of unrecognized tax benefits when net operating loss carryforwards, similar tax losses, or tax credit carryforwards exist. The amendments in this update are effective for fiscal years (and interim periods within those years) beginning after December 15, 2013. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The Company prospectively adopted ASU 2013-11 on January 1, 2014, and the adoption did not have a material effect on its financial position or results of operations. | |||||||||||||||||||||||||
In March 2013, the FASB issued ASU No. 2013-05, Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (a consensus of the FASB Emerging Issues Task Force) (“ASU 2013-05”), which applies to the release of the cumulative translation adjustment into net income when a parent either sells all or a part of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. ASU 2013-05 is effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The Company adopted ASU 2013-05 on January 1, 2014, and the adoption did not have a material effect on its financial position or results of operations. | |||||||||||||||||||||||||
In February 2013, the FASB issued ASU No. 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date (“ASU 2013-04”). ASU 2013-04 requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the amount the reporting entity agreed to pay plus additional amounts the reporting entity expects to pay on behalf of its co-obligors. The guidance further provides for disclosure of the nature and amount of the obligation. ASU 2013-04 is effective for interim and annual reporting periods beginning after December 15, 2013. The Company adopted ASU 2013-04 on January 1, 2014, and the adoption did not have a material effect on its financial position or results of operations. | |||||||||||||||||||||||||
Accounting Standards to be Adopted in Future Periods | |||||||||||||||||||||||||
In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), which requires management to evaluate, in connection with financial statement preparation for each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued, and to provide related disclosures. ASU 2014-15 applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The Company does not expect adoption of ASU 2014-15 to have a material effect on its financial position and results of operations. | |||||||||||||||||||||||||
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. ASU 2014-09 requires entities to recognize revenue in a way that depicts the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ASU 2014-09 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2016. Early adoption is not permitted. The Company is still assessing the potential impact of ASU 2014-09 on its financial position and results of operations. | |||||||||||||||||||||||||
Revision of Prior Period Financial Statements | |||||||||||||||||||||||||
“Cash and cash equivalents” and “Accounts payable and accrued expenses” on the consolidated balance sheets as of September 30, 2013 and December 31, 2013 were revised to reclassify certain liabilities as in-transit cash disbursements due to the timing of payments for certain contracts. Management determined that the impact on all previously issued financial statements was immaterial. The correction resulted in the following increases (decreases) to amounts previously reported in the Company’s financial statements (dollars in thousands): | |||||||||||||||||||||||||
31-Dec-13 | 30-Sep-13 | 30-Jun-13 | 31-Mar-13 | 31-Dec-12 | 31-Dec-11 | ||||||||||||||||||||
Consolidated Balance Sheet | |||||||||||||||||||||||||
Cash and cash equivalents | $ | (2,010 | ) | $ | (3,737 | ) | $ | (7,446 | ) | $ | (8,008 | ) | $ | (1,760 | ) | $ | (3,749 | ) | |||||||
Accounts payable and accrued expenses | (2,010 | ) | (3,737 | ) | (7,446 | ) | (8,008 | ) | (1,760 | ) | (3,749 | ) | |||||||||||||
Consolidated Statements of Cash Flows | |||||||||||||||||||||||||
Net cash provided by operating activities | $ | (250 | ) | $ | (1,977 | ) | $ | (5,686 | ) | $ | (6,248 | ) | $ | 1,989 | $ | (2,215 | ) | ||||||||
Cash and cash equivalents at beginning of year | (1,760 | ) | (1,760 | ) | (1,760 | ) | (1,760 | ) | (3,749 | ) | (1,534 | ) | |||||||||||||
Cash and cash equivalents at end of period | (2,010 | ) | (3,737 | ) | (7,446 | ) | (8,008 | ) | (1,760 | ) | (3,749 | ) | |||||||||||||
As other prior period financial information is presented, the Company will similarly revise the consolidated balance sheets and statements of cash flows in its future filings. |
Acquisitions_and_Divestitures_
Acquisitions and Divestitures Acquisitions and Divestitures | 9 Months Ended |
Sep. 30, 2014 | |
Acquisitions and Divestitures [Abstract] | ' |
Acquisition and Divestiture [Text Block] | ' |
2. Acquisitions and Divestitures | |
On August 25, 2014, the Company completed the divestiture of its wholly-owned subsidiary, CAMex Holding, LLC (“CAMex”), together with all of its interest in CA Empeños Mexico, S. de R.L. de C.V. (“Empeños”), for cash consideration of approximately $18.5 million, net of cash held at the date of divestiture, including consideration related to a non-compete agreement. Empeños, which was owned jointly by Cash America of Mexico, Inc. and CAMex, operated the Company’s 47 pawn lending locations in Mexico and was included in the retail services segment. The Company recorded a loss of $2.8 million on the sale, which is included in “Loss on divestitures” in the Company’s consolidated statement of operations. The Company included $6.4 million of goodwill in the carrying value of the business in accordance with ASC 350, Intangibles - Goodwill and Other. Following the sale of Empeños, the Company tested the goodwill remaining in the retail services segment, and noted no impairment. In addition, the Company recognized a $2.1 million expense related to an uncollectible receivable as a result of the Company’s discontinuation of its Mexico-based pawn operations, which is included in “Loss on divestitures” in the Company’s consolidated statement of operations. The Company used the proceeds from the sale for general corporate purposes. Following the sale, the Company had no continuing involvement with these entities. Empeños did not qualify as a discontinued operation in accordance with ASU 2014-08 as it did not have a major effect on the Company’s operations and financial results. | |
On August 25, 2014, the Company completed the divestiture of its five pawn lending locations in Colorado for cash consideration of approximately $3.0 million, net of cash held at the date of divestiture. These locations were included in the retail services segment. The Company recorded a loss of $0.3 million on the sale, which is included in “Loss on divestitures” in the Company’s consolidated statement of operations. The Company used the proceeds from the sale for general corporate purposes. |
Credit_Quality_Information_On_
Credit Quality Information On Pawn Loans | 9 Months Ended |
Sep. 30, 2014 | |
Credit Quality Information On Pawn Loans [Abstract] | ' |
Credit Quality Information On Pawn Loans | ' |
3. Credit Quality Information on Pawn Loans | |
The Company manages its pawn loan portfolio by monitoring the type and adequacy of collateral compared to historical gross profit margins. If a pawn loan defaults, the Company relies on the disposition of pawned property to recover the principal amount of an unpaid pawn loan, plus a yield on the investment, because the Company’s pawn loans are non-recourse against the customer. In addition, the customer’s creditworthiness does not affect the Company’s financial position or results of operations. Generally, forfeited merchandise has historically sold for an amount in excess of the cost of goods sold (which is generally the principal amount loaned on an item or the amount paid for purchased merchandise). Goods pledged to secure pawn loans are tangible personal property items such as jewelry, tools, televisions and other electronics, musical instruments and other miscellaneous items. A pawn loan is considered delinquent if the customer does not repay or, where allowed by law, renew or extend the loan on or prior to its contractual maturity date plus any applicable grace period. Pawn loan fees and service charges do not accrue on delinquent pawn loans. When a pawn loan is considered delinquent, any accrued pawn loan fees and service charges are reversed and no additional pawn loan fees and service charges are accrued. As of September 30, 2014 and 2013 and December 31, 2013, the Company had current pawn loans outstanding of $256.4 million, $245.5 million and $251.9 million, respectively, and delinquent pawn loans outstanding of $8.2 million, $8.2 million and $9.2 million, respectively. |
Consumer_Loans_Credit_Quality_
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans [Abstract] | ' | |||||||||||||||
Consumer Loans, Credit Quality Information on Consumer Loans, Allowance and Liability for Estimated Losses on Consumer Loans and Guarantees of Consumer Loans | ' | |||||||||||||||
4. Consumer Loans, Credit Quality Information on Consumer Loans, Allowance and Liability for Estimated Losses on Consumer Loans and Guarantees of Consumer Loans | ||||||||||||||||
Consumer loan fee revenue generated from consumer loans for the three and nine months ended September 30, 2014 and 2013 was as follows (dollars in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Interest and fees on short-term loans | $ | 83,361 | $ | 118,775 | $ | 264,483 | $ | 385,548 | ||||||||
Interest and fees on line of credit accounts | 80,909 | 50,504 | 228,840 | 102,021 | ||||||||||||
Interest and fees on installment loans | 65,165 | 58,284 | 195,633 | 152,630 | ||||||||||||
Total consumer loan revenue | $ | 229,435 | $ | 227,563 | $ | 688,956 | $ | 640,199 | ||||||||
Current and Delinquent Consumer Loans | ||||||||||||||||
The Company classifies its consumer loans as either current or delinquent. Short-term loans are considered delinquent when payment of an amount due is not made as of the due date. If a line of credit account or installment loan customer misses one payment, that payment is considered delinquent. The Company does not accrue interest on the delinquent payment portion of the loan but does continue to accrue interest on the remaining portion of the loan. If a line of credit account or installment loan customer does not make two consecutive payments, the entire account or loan is classified as delinquent. The Company allows for normal payment processing time before considering a loan delinquent but does not provide for any additional grace period. | ||||||||||||||||
The Company generally does not accrue interest on delinquent consumer loans and does not resume accrual of interest on a delinquent loan unless it is returned to current status. In addition, delinquent consumer loans generally may not be renewed, and if, during its attempt to collect on a delinquent consumer loan, the Company allows additional time for payment through a payment plan or a promise to pay, it is still considered delinquent. Generally, all payments received are first applied against accrued but unpaid interest and fees and then against the principal balance of the loan. | ||||||||||||||||
Allowance and Liability for Estimated Losses on Consumer Loans | ||||||||||||||||
The Company monitors the performance of its consumer loan portfolio and maintains either an allowance or liability for estimated losses on consumer loans (including fees and interest) at a level estimated to be adequate to absorb credit losses inherent in the portfolio. The allowance for losses on the Company’s owned consumer loans reduces the outstanding loan balance in the consolidated balance sheets. The liability for estimated losses related to loans guaranteed under its credit services organization and credit access business programs (“CSO programs”) is initially recorded at fair value and is included in “Accounts payable and accrued expenses” in the consolidated balance sheets. | ||||||||||||||||
In determining the allowance or liability for estimated losses on consumer loans, the Company applies a documented systematic methodology. In calculating the allowance or liability for loan losses, outstanding loans are divided into discrete groups of short-term loans, line of credit accounts and installment loans and are analyzed as current or delinquent. Increases in either the allowance or the liability, net of charge-offs and recoveries, are recorded as a “Consumer loan loss provision” in the consolidated statements of income. | ||||||||||||||||
The allowance or liability for short-term loans classified as current is based on historical loss rates adjusted for recent default trends for current loans. For delinquent short-term loans, the allowance or liability is based on a six-month rolling average of loss rates by stage of collection. For line of credit accounts and installment loan portfolios, the Company generally uses a migration analysis to estimate losses inherent in the portfolio. The allowance or liability calculation under the migration analysis is based on historical charge-off experience and the loss emergence period, which represents the average amount of time between the first occurrence of a loss event to the charge-off of a loan. The factors the Company considers to assess the adequacy of the allowance or liability include past due performance, historical behavior of monthly vintages, underwriting changes and recent trends in delinquency in the migration analysis. | ||||||||||||||||
The Company fully reserves and generally charges off consumer loans once the loan or a portion of the loan has been classified as delinquent for 60 consecutive days. If a loan is deemed uncollectible before it is fully reserved, it is charged off at that point. Consumer loans classified as delinquent generally have an age of one to 59 days from the date any portion of the loan became delinquent, as defined above. Recoveries on loans previously charged to the allowance are credited to the allowance when collected. | ||||||||||||||||
The components of Company-owned consumer loan portfolio receivables as of September 30, 2014 and 2013 and December 31, 2013 were as follows (dollars in thousands): | ||||||||||||||||
As of September 30, 2014 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Current loans | $ | 69,389 | $ | 118,329 | $ | 180,650 | $ | 368,368 | ||||||||
Delinquent loans: | ||||||||||||||||
Delinquent payment amounts(a) | — | 4,335 | 3,069 | 7,404 | ||||||||||||
Loans on non-accrual status | 24,412 | 5,611 | 17,699 | 47,722 | ||||||||||||
Total delinquent loans | 24,412 | 9,946 | 20,768 | 55,126 | ||||||||||||
Total consumer loans, gross | 93,801 | 128,275 | 201,418 | 423,494 | ||||||||||||
Less: allowance for losses | (21,065 | ) | (22,673 | ) | (31,531 | ) | (75,269 | ) | ||||||||
Consumer loans, net | $ | 72,736 | $ | 105,602 | $ | 169,887 | $ | 348,225 | ||||||||
As of September 30, 2013 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Current loans | $ | 103,320 | $ | 87,554 | $ | 155,100 | $ | 345,974 | ||||||||
Delinquent loans: | ||||||||||||||||
Delinquent payment amounts(a) | — | 2,242 | 2,968 | 5,210 | ||||||||||||
Loans on non-accrual status | 41,706 | 9,810 | 15,537 | 67,053 | ||||||||||||
Total delinquent loans | 41,706 | 12,052 | 18,505 | 72,263 | ||||||||||||
Total consumer loans, gross | 145,026 | 99,606 | 173,605 | 418,237 | ||||||||||||
Less: allowance for losses | (34,829 | ) | (21,934 | ) | (33,193 | ) | (89,956 | ) | ||||||||
Consumer loans, net | $ | 110,197 | $ | 77,672 | $ | 140,412 | $ | 328,281 | ||||||||
As of December 31, 2013 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Current loans | $ | 101,379 | $ | 111,822 | $ | 168,221 | $ | 381,422 | ||||||||
Delinquent loans: | ||||||||||||||||
Delinquent payment amounts(a) | — | 4,146 | 3,902 | 8,048 | ||||||||||||
Loans on non-accrual status | 29,857 | 9,834 | 17,546 | 57,237 | ||||||||||||
Total delinquent loans | 29,857 | 13,980 | 21,448 | 65,285 | ||||||||||||
Total consumer loans, gross | 131,236 | 125,802 | 189,669 | 446,707 | ||||||||||||
Less: allowance for losses | (24,425 | ) | (29,784 | ) | (33,657 | ) | (87,866 | ) | ||||||||
Consumer loans, net | $ | 106,811 | $ | 96,018 | $ | 156,012 | $ | 358,841 | ||||||||
(a) | Represents the delinquent portion of installment and line of credit account balances for customers that have only missed one payment. See “Current and Delinquent Consumer Loans” above for additional information. | |||||||||||||||
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 during the three and nine months ended September 30, 2014 and 2013 were as follows (dollars in thousands): | ||||||||||||||||
Three Months Ended September 30, 2014 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Allowance for losses for Company-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 21,679 | $ | 21,578 | $ | 28,930 | $ | 72,187 | ||||||||
Consumer loan loss provision | 25,709 | 25,913 | 30,555 | 82,177 | ||||||||||||
Charge-offs | (33,387 | ) | (29,842 | ) | (34,843 | ) | (98,072 | ) | ||||||||
Recoveries | 7,064 | 5,024 | 6,889 | 18,977 | ||||||||||||
Balance at end of period | $ | 21,065 | $ | 22,673 | $ | 31,531 | $ | 75,269 | ||||||||
Liability for third-party lender-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 2,021 | $ | — | $ | 1,155 | $ | 3,176 | ||||||||
Decrease in liability | (128 | ) | — | (516 | ) | (644 | ) | |||||||||
Balance at end of period | $ | 1,893 | $ | — | $ | 639 | $ | 2,532 | ||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Allowance for losses for Company-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 42,068 | $ | 10,649 | $ | 27,146 | $ | 79,863 | ||||||||
Consumer loan loss provision | 42,032 | 25,140 | 32,738 | 99,910 | ||||||||||||
Charge-offs | (58,862 | ) | (15,414 | ) | (30,762 | ) | (105,038 | ) | ||||||||
Recoveries | 9,591 | 1,559 | 4,071 | 15,221 | ||||||||||||
Balance at end of period | $ | 34,829 | $ | 21,934 | $ | 33,193 | $ | 89,956 | ||||||||
Liability for third-party lender-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 2,439 | $ | — | $ | 608 | $ | 3,047 | ||||||||
(Decrease) increase in liability | (226 | ) | — | 9 | (217 | ) | ||||||||||
Balance at end of period | $ | 2,213 | $ | — | $ | 617 | $ | 2,830 | ||||||||
Nine Months Ended September 30, 2014 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Allowance for losses for Company-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 24,425 | $ | 29,784 | $ | 33,657 | $ | 87,866 | ||||||||
Consumer loan loss provision | 73,392 | 71,074 | 85,804 | 230,270 | ||||||||||||
Charge-offs | (102,846 | ) | (90,984 | ) | (106,733 | ) | (300,563 | ) | ||||||||
Recoveries | 26,094 | 12,799 | 18,803 | 57,696 | ||||||||||||
Balance at end of period | $ | 21,065 | $ | 22,673 | $ | 31,531 | $ | 75,269 | ||||||||
Liability for third-party lender-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 2,322 | $ | — | $ | 758 | $ | 3,080 | ||||||||
Decrease in liability | (429 | ) | — | (119 | ) | (548 | ) | |||||||||
Balance at end of period | $ | 1,893 | $ | — | $ | 639 | $ | 2,532 | ||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Allowance for losses for Company-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 45,982 | $ | 11,107 | $ | 28,614 | $ | 85,703 | ||||||||
Consumer loan loss provision | 130,624 | 41,612 | 80,206 | 252,442 | ||||||||||||
Charge-offs | (172,504 | ) | (35,490 | ) | (86,237 | ) | (294,231 | ) | ||||||||
Recoveries | 30,727 | 4,705 | 10,610 | 46,042 | ||||||||||||
Balance at end of period | $ | 34,829 | $ | 21,934 | $ | 33,193 | $ | 89,956 | ||||||||
Liability for third-party lender-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 2,934 | $ | — | $ | 564 | $ | 3,498 | ||||||||
(Decrease) increase in liability | (721 | ) | — | 53 | (668 | ) | ||||||||||
Balance at end of period | $ | 2,213 | $ | — | $ | 617 | $ | 2,830 | ||||||||
Guarantees of Consumer Loans | ||||||||||||||||
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 installment loans that are secured by a customer’s vehicle and is required to purchase any defaulted loans it has guaranteed. The guarantee represents an obligation to purchase specific loans that go into default. Short-term loans that are guaranteed generally have terms of less than 90 days. Unsecured installment loans that are guaranteed generally have terms of up to eight months. Loans secured by a customer’s vehicle, which are included in the Company’s installment loan portfolio, that are guaranteed typically have available terms of up to 60 months. As of September 30, 2014 and 2013 and December 31, 2013, the amount of consumer loans guaranteed by the Company was $47.3 million, $50.1 million and $59.0 million, respectively, representing amounts due under consumer loans originated by third-party lenders under the CSO programs. The liability for estimated losses on consumer loans guaranteed by the Company of $2.5 million, $2.8 million and $3.1 million, as of September 30, 2014 and 2013 and December 31, 2013, respectively, is included in “Accounts payable and accrued expenses” in the accompanying consolidated balance sheets. |
Merchandise_Held_For_Dispositi
Merchandise Held For Disposition | 9 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||||||
Inventory Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Merchandise Held For Disposition | ' | |||||||||||||||||||||||||||||||||||
5. Merchandise Held for Disposition | ||||||||||||||||||||||||||||||||||||
Merchandise held for disposition and the related allowance as of September 30, 2014 and 2013 and December 31, 2013 associated with the Company’s domestic and foreign retail services operations were as follows (dollars in thousands): | ||||||||||||||||||||||||||||||||||||
As of September 30, | As of December 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2013 | ||||||||||||||||||||||||||||||||||
Total | Allowance | Net | Total | Allowance | Net | Total | Allowance | Net | ||||||||||||||||||||||||||||
Domestic | $ | 217,663 | $ | (2,400 | ) | $ | 215,263 | $ | 187,718 | $ | (840 | ) | $ | 186,878 | $ | 204,663 | $ | (840 | ) | $ | 203,823 | |||||||||||||||
Foreign | — | — | — | 6,345 | (108 | ) | 6,237 | 5,185 | (109 | ) | 5,076 | |||||||||||||||||||||||||
Total | $ | 217,663 | $ | (2,400 | ) | $ | 215,263 | $ | 194,063 | $ | (948 | ) | $ | 193,115 | $ | 209,848 | $ | (949 | ) | $ | 208,899 | |||||||||||||||
Investments_In_Unconsolidated_
Investments In Unconsolidated Subsidiaries Investments in Unconsolidated Subsidiaries | 9 Months Ended |
Sep. 30, 2014 | |
Investments In Unconsolidated Subsidiaries [Abstract] | ' |
Investments in Unconsolidated Subsidiaries | ' |
6. Investments in Unconsolidated Subsidiaries | |
The Company records investments in unconsolidated subsidiaries at cost. The aggregate carrying values of the Company’s investments in unconsolidated subsidiaries were $8.8 million, $7.8 million and $8.3 million as of September 30, 2014 and 2013 and December 31, 2013, respectively, and were held in “Other assets” in the consolidated balance sheets. Carrying values for these investments are adjusted for cash contributions and distributions. The Company evaluates these investments for impairment if an event occurs or circumstances change that would more likely than not reduce the fair value of the investment below carrying value. Based on the Company’s impairment evaluation of these investments as of September 30, 2014, it determined that no impairment existed. |
LongTerm_Debt
Long-Term Debt | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Long-term Debt, Unclassified [Abstract] | ' | |||||||||||
Long-Term Debt | ' | |||||||||||
7. Long-term Debt | ||||||||||||
The long-term debt instruments and balances outstanding as of September 30, 2014 and 2013 and December 31, 2013 for each of the Company and its wholly-owned subsidiary, Enova International, Inc. (“Enova”), were as follows (dollars in thousands): | ||||||||||||
Balance as of | ||||||||||||
September 30, | December 31, | |||||||||||
2014 | 2013 | 2013 | ||||||||||
Domestic and multi-currency line of credit due 2018 | $ | 9,552 | $ | 120,225 | $ | 193,717 | ||||||
6.09% Series A senior unsecured notes due 2016 | — | 28,000 | 21,000 | |||||||||
7.26% senior unsecured notes due 2017 | — | 20,000 | 20,000 | |||||||||
Variable rate senior unsecured notes due 2018 | — | 35,417 | 33,333 | |||||||||
5.75% senior unsecured notes due 2018 | 196,470 | 300,000 | 300,000 | |||||||||
6.00% Series A senior unsecured notes due 2019 | — | 47,000 | 47,000 | |||||||||
6.21% Series B senior unsecured notes due 2021 | — | 20,455 | 18,182 | |||||||||
6.58% Series B senior unsecured notes due 2022 | — | 5,000 | 5,000 | |||||||||
5.25% convertible senior notes due 2029 | — | 106,752 | 101,757 | |||||||||
Subtotal - Company debt | $ | 206,022 | $ | 682,849 | $ | 739,989 | ||||||
Enova line of credit due 2017 | — | — | — | |||||||||
Enova 9.75% senior unsecured notes due 2021 | 494,021 | — | — | |||||||||
Subtotal - Enova debt | $ | 494,021 | $ | — | $ | — | ||||||
Total debt | $ | 700,043 | $ | 682,849 | $ | 739,989 | ||||||
Less current portion | — | (22,606 | ) | (22,606 | ) | |||||||
Total long-term debt | $ | 700,043 | $ | 660,243 | $ | 717,383 | ||||||
Domestic and Multi-Currency Line | ||||||||||||
On March 30, 2011, the Company and its domestic subsidiaries as guarantors entered into a Credit Agreement with a syndicate of financial institutions as lenders (the “Credit Agreement”). The Credit Agreement was amended on each of November 29, 2011, May 10, 2013, May 12, 2014 and June 13, 2014. The Credit Agreement, as amended, provides for a domestic and multi-currency line of credit in an aggregate principal amount of up to $280.0 million permitting revolving credit loans, including a multi-currency subfacility that gives the Company the ability to borrow up to $50.0 million that may be in specified foreign currencies, subject to the terms and conditions of the Credit Agreement (the “Domestic and Multi-currency Line of Credit”). The Credit Agreement contains an accordion feature whereby the revolving line of credit may be increased up to an additional $100.0 million with the consent of any increasing lenders. The Domestic and Multi-currency Line of Credit matures on March 31, 2018. | ||||||||||||
The May 2014 amendment to the Credit Agreement modified certain of the Credit Agreement’s covenants to permit (i) the Enova Debt Issuance (as defined below), and (ii) the incurrence of additional indebtedness by Enova and its subsidiaries under a new credit facility in an aggregate principal amount not to exceed $75.0 million. The permissibility of the Enova Debt Issuance and additional permitted debt incurrence is subject to satisfaction of certain conditions, including repayment of all intercompany indebtedness owed by Enova to the Company, the payment of a cash dividend by Enova to the Company and that such debt issued by Enova be non-recourse to the Company. Additionally, the amendment to the Credit Agreement (i) amended provisions of the Credit Agreement to permit a distribution of Enova’s stock to the Company’s shareholders and allows the administrative agent to release Enova and its subsidiaries as guarantors of the Credit Agreement, subject to certain conditions, and (ii) amended restrictive covenants to permit the prepayment of certain indebtedness outstanding. The amendment also contains restrictions on the Company and its subsidiaries with regard to making any additional investments, loans or cash distributions to Enova and amends certain financial covenants and restrictions. The June 2014 amendment to the Credit Agreement made certain clarifications with respect to the types of prepayments permissible in connection with the prepayment of certain indebtedness. | ||||||||||||
Interest on the Domestic and Multi-currency Line of Credit is charged, at the Company’s option, at either the London Interbank Offered Rate (“LIBOR”) for one week or one-, two-, three- or six-month periods, as selected by the Company, plus a margin varying from 2.00% to 3.25% or at the agent’s base rate plus a margin varying from 0.50% to 1.75%. The margin for the Domestic and Multi-currency Line of Credit is dependent on the Company’s cash flow leverage ratios as defined in the Credit Agreement entered into in connection with the Domestic and Multi-currency Line of Credit. The Company also pays a fee on the unused portion of the Domestic and Multi-currency Line of Credit ranging from 0.25% to 0.50% (0.38% as of September 30, 2014) based on the Company’s cash flow leverage ratios. The weighted average interest rate (including margin) on the Domestic and Multi-currency Line of Credit was 2.97%, 2.81% and 3.30% as of September 30, 2014 and 2013, and December 31, 2013, respectively. | ||||||||||||
On May 30, 2014, Enova completed the issuance and sale of $500.0 million of senior unsecured notes (the “Enova Debt Issuance”) discussed below under “$500.0 million 9.75% Senior Unsecured Notes.” In connection with the proceeds received from Enova’s repayment of intercompany indebtedness to the Company following the Enova Debt Issuance, in May 2014, the Company repaid the entire amount outstanding on the Domestic and Multi-currency Line of Credit. The Company drew on the Domestic and Multi-currency Line of Credit in the three months ended September 30, 2014, and, as of September 30, 2014, the Company had $9.6 million in borrowings outstanding, which consisted of two pricing tranches with maturity dates ranging from three to seven days. As of September 30, 2013, borrowings under the Company’s Domestic and Multi-currency Line of Credit consisted of three pricing tranches with maturity dates ranging from one to 31 days, and as of December 31, 2013, borrowings under the Company’s Domestic and Multi-currency Line of Credit consisted of three pricing tranches with maturity dates ranging from three to 31 days. | ||||||||||||
The Company routinely refinances borrowings pursuant to the terms of its Domestic and Multi-currency Line of Credit. Therefore, these borrowings are reported as part of the applicable line of credit and as long-term debt. | ||||||||||||
Variable Rate Senior Unsecured Notes | ||||||||||||
When the Company entered into the Credit Agreement, it also entered into a $50.0 million term loan facility under which it issued variable rate senior unsecured notes that are guaranteed by all of the Company’s domestic subsidiaries (the “2018 Variable Rate Notes”). The maturity date of the 2018 Variable Rate Notes was March 31, 2018, but in connection with the proceeds received from Enova’s repayment of intercompany indebtedness to the Company following the Enova Debt Issuance, the Company prepaid the entire amount outstanding on the 2018 Variable Rate Notes. | ||||||||||||
In conjunction with the prepayment of the 2018 Variable Rate Notes during the three months ended June 30, 2014, the Company recorded a loss on early extinguishment of debt of approximately $0.1 million which is included in “Loss on early extinguishment of debt” in the consolidated statements of income. | ||||||||||||
Letter of Credit Facility | ||||||||||||
When the Company entered into the Credit Agreement, it also entered into a Standby Letter of Credit Agreement (the “LC Agreement”) for the issuance of up to $20.0 million in letters of credit (the “Letter of Credit Facility”) that is guaranteed by the Company’s domestic subsidiaries and matures on March 31, 2018. In the event that an amount is paid by the issuing bank under a stand-by letter of credit, it will be due and payable by the Company on demand, and amounts due by the Company under the LC Agreement will bear interest annually at a rate that is the lesser of (a) 2% above the prime rate for Wells Fargo Bank, National Association or (b) the maximum rate of interest permissible under applicable laws. The LC Agreement also requires the Company to pay quarterly fees equal to the applicable margin set forth in the LC Agreement on the undrawn amount of the credit outstanding. The Company had standby letters of credit of $12.6 million under its Letter of Credit Facility as of September 30, 2014. | ||||||||||||
$300.0 million 5.75% Senior Unsecured Notes | ||||||||||||
On May 15, 2013, the Company issued and sold $300.0 million in aggregate principal amount of 5.75% Senior Notes due 2018 (the “2018 Senior Notes”). The 2018 Senior Notes bear interest at a rate of 5.75% annually on the principal amount, payable semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2013. The 2018 Senior Notes will mature on May 15, 2018. The 2018 Senior Notes were sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States pursuant to Regulation S under the Securities Act. | ||||||||||||
In connection with the issuance and registration of the 2018 Senior Notes, the Company incurred debt issuance and registration costs of approximately $8.8 million, which primarily consisted of underwriting fees, legal and other professional expenses. These costs are being amortized over a period of five years and are included in “Other assets” in the consolidated balance sheets. | ||||||||||||
The 2018 Senior Notes are senior unsecured debt obligations of the Company and are guaranteed by all of the Company’s domestic subsidiaries and one of its foreign subsidiaries (the “Guarantors”). The Guarantors have guaranteed fully and unconditionally, on a joint and several basis, the obligations to pay principal and interest for the 2018 Senior Notes. Cash America International, Inc. (“Parent Company”), on a stand-alone unconsolidated basis, has no independent assets or operations. The Guarantors are 100% owned by the Company. The assets and operations of the Parent Company’s non-guarantor subsidiaries, individually and in the aggregate, are minor. The domestic Guarantors under the 2018 Senior Notes are also guarantors under the Credit Agreement. The 2018 Senior Notes Indenture provides that if any of the Guarantors is released from its guarantees of the Company’s borrowings and obligations under the Credit Agreement, that Guarantor’s guaranty of the 2018 Senior Notes will also be released. There are certain restrictions on the ability of Enova and its subsidiaries to pay funds to the Parent Company through dividends, loans, advances or otherwise. See “Enova Line of Credit” and “$500.0 Million 9.75% Senior Unsecured Notes” below for a description of these restrictions. | ||||||||||||
The 2018 Senior Notes are redeemable at the Company’s option, in whole or in part, at any time at 100% of the aggregate principal amount of 2018 Senior Notes redeemed plus the applicable “make whole” redemption price specified in the Indenture that governs the 2018 Senior Notes (the “2018 Senior Notes Indenture”), plus accrued and unpaid interest, if any, to the redemption date. In addition, if a change of control occurs, as that term is defined in the 2018 Senior Notes Indenture, the holders of 2018 Senior Notes will have the right, subject to certain conditions, to require the Company to repurchase their 2018 Senior Notes at a purchase price equal to 101% of the aggregate principal amount of 2018 Senior Notes repurchased plus accrued and unpaid interest, if any, as of the date of repurchase. As required by a registration rights agreement that the Company entered into with the initial purchasers when the 2018 Senior Notes were issued, the Company completed an exchange offer with respect to the 2018 Senior Notes in January 2014. All of the unregistered 2018 Senior Notes have been exchanged for identical new notes registered under the Securities Act. | ||||||||||||
During the three months ended September 30, 2014, the Company repurchased $103.5 million aggregate principal amount of the 2018 Senior Notes for aggregate cash consideration of $107.2 million plus accrued interest. In connection with these purchases, the Company recorded a loss on early extinguishment of debt of approximately $6.0 million, which is included in “Loss on early extinguishment of debt” in the consolidated statements of income. | ||||||||||||
2029 Convertible Notes | ||||||||||||
On May 19, 2009, the Company completed the offering of $115.0 million aggregate principal amount of 5.25% Convertible Senior Notes due May 15, 2029 (the “2029 Convertible Notes”). The Company notified the holders of its outstanding 2029 Convertible Notes that on May 15, 2014, it would redeem all outstanding 2029 Convertible Notes, and as a result of this notification, all holders of outstanding 2029 Convertible Notes elected conversion on May 15, 2014. Pursuant to the terms of the 2029 Convertible Notes, the Company elected to pay cash for the $44.4 million of principal amount of all converted notes outstanding at that date, plus accrued interest, and to re-issue 747,085 shares of common stock held in treasury for the amount in excess of principal owed to noteholders as a result of the net-share settlement provisions in the Indenture that governs the 2029 Convertible Notes. In accordance with ASC 470, Debt, no gain or loss was recorded in the consolidated statements of income for the conversion. Additionally, the Company’s consolidated shareholders’ equity was not changed as a result of this activity. | ||||||||||||
During the three months ended March 31, 2014 and prior to the conversion of the 2029 Convertible Notes, the Company repurchased $58.6 million principal amount of the 2029 Convertible Notes in privately-negotiated transactions for aggregate cash consideration of $89.5 million plus accrued interest. In connection with these purchases, the Company recorded a loss on early extinguishment of debt of approximately $1.5 million, which is included in “Loss on early extinguishment of debt” in the consolidated statements of income, and a $30.3 million decrease to additional paid-in capital, which is included in “Repurchases and conversion of convertible debt” in the consolidated statements of equity. | ||||||||||||
Contractual interest expense recognized for the 2029 Convertible Notes was $1.3 million for the nine months ended September 30, 2014 and was $1.5 million and $4.5 million for the three and nine months ended September 30, 2013. Additionally, interest expense related to non-cash amortization of the discount represented $0.7 million for the nine months ended September 30, 2014 and $0.8 million and $2.5 million for the three and nine months ended September 30, 2013. | ||||||||||||
Enova Line of Credit | ||||||||||||
On May 14, 2014, Enova and certain of its domestic subsidiaries, as guarantors, entered into a credit agreement among Enova, the guarantors, Jefferies Finance LLC as administrative agent and Jefferies Group LLC as lender (the “Enova Credit Agreement”). The Enova Credit Agreement provides for an unsecured revolving credit facility of an aggregate principal amount of up to $75.0 million, including a multi-currency sub-facility that gives Enova the ability to borrow up to $25.0 million that may be in specified foreign currencies, subject to the terms and conditions of the Enova Credit Agreement (the “Enova Credit Facility”). The Enova Credit Facility will mature on June 30, 2017. However, if Enova’s guarantees of the Company’s indebtedness are not released on or before March 31, 2015, the Enova Credit Agreement provides that the Enova Credit Facility will instead mature on March 31, 2015. The Enova Credit Agreement is an unsecured debt obligation of Enova and is unconditionally guaranteed by all of Enova’s domestic subsidiaries. Neither the Company nor any of its other subsidiaries that are not subsidiaries of Enova guarantee the Enova Credit Facility. | ||||||||||||
Interest on the Enova Credit Facility will be charged, at Enova’s option, at either the LIBOR for one week or one-, two-, three- or six-month periods, as selected by Enova, plus a margin varying from 2.50% to 3.75% or at the agent’s base rate plus a margin varying from 1.50% to 2.75%. The margin for the Enova Credit Facility borrowings is dependent on Enova’s cash flow leverage ratios. Enova will also be required to pay a fee on the unused portion of the line of credit ranging from 0.25% to 0.50% based on Enova’s cash flow leverage ratios. Enova had no outstanding borrowings on the Enova Credit Facility as of September 30, 2014. Enova’s ability to pay dividends or make distributions to the Company is subject to certain limitations in the Enova Credit Agreement. | ||||||||||||
The Enova Credit Agreement also includes a sub-limit of up to $20.0 million for standby or commercial letters of credit. In the event that an amount is paid by the issuing bank under a letter of credit, it will be due and payable by Enova on demand. Pursuant to the terms of the Enova Credit Agreement, Enova agrees to pay fees equal to the LIBOR margin per annum on the undrawn amount of each outstanding standby Letter of Credit plus a one-time commercial letter of credit fee of 0.20% of the face amount of each commercial Letter of Credit plus 0.25% per annum on the average daily amount of the total Letter of Credit exposure. Enova had standby letters of credit of $3.0 million under the Enova Credit Agreement as of September 30, 2014. | ||||||||||||
In connection with the Enova Credit Facility, Enova incurred debt issuance costs of approximately $1.6 million for the nine months ended September 30, 2014, which primarily consisted of underwriting fees and legal expenses. The unamortized balance of these costs as of September 30, 2014 is included in “Other assets” in the consolidated balance sheets. These costs are being amortized to interest expense over a period of 37 months, the term of the Enova Credit Facility. | ||||||||||||
$500.0 million 9.75% Senior Unsecured Notes | ||||||||||||
On May 30, 2014, Enova issued and sold $500.0 million in aggregate principal amount of 9.75% Senior Notes due 2021 (the “Enova 2021 Senior Notes”). The Enova 2021 Senior Notes bear interest at a rate of 9.75% annually on the principal amount payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2014. The Enova 2021 Senior Notes were sold at a discount of the principal amount to yield 10.0% to maturity. The Enova 2021 Senior Notes will mature on June 1, 2021. The Enova 2021 Senior Notes are unsecured debt obligations of Enova, and are unconditionally guaranteed by all of Enova’s domestic subsidiaries. Neither the Company nor any of its other subsidiaries that are not subsidiaries of Enova guarantee the Enova 2021 Senior Notes. The Enova 2021 Senior Notes were sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States pursuant to Regulation S under the Securities Act. | ||||||||||||
As of September 30, 2014, the carrying amount of the Enova 2021 Senior Notes was $494.0 million, which includes an unamortized discount of $6.0 million. The discount is being amortized to interest expense over a period of seven years, through the maturity date of June 1, 2021. The total interest expense recognized was $16.5 million for the nine months ended September 30, 2014, of which $0.2 million represented the non-cash amortization of the discount. In connection with the issuance of the Enova 2021 Senior Notes, the Company incurred approximately $14.7 million for issuance costs, which primarily consisted of underwriting fees, legal and other professional expenses. These costs are being amortized to interest expense over seven years and are included in “Other assets” in the consolidated balance sheets. | ||||||||||||
In May 2014, Enova used the $479.0 million it received as net proceeds from the issuance of the Enova 2021 Senior Notes to repay all intercompany indebtedness it owed to the Company and to pay a significant portion of a cash dividend to the Company. | ||||||||||||
The Enova 2021 Senior Notes are redeemable at Enova’s option, in whole or in part, (i) at any time prior to June 1, 2017 at 100% of the aggregate principal amount of 2021 Senior Notes redeemed plus the applicable “make whole” redemption price specified in the indenture that governs the Enova 2021 Notes (the “Enova 2021 Senior Notes Indenture”), plus accrued and unpaid interest, if any, to the redemption date and (ii) at any time on or after June 1, 2017 at a premium specified in the Enova 2021 Senior Notes Indenture that will decrease over time, plus accrued and unpaid interest, if any, to the redemption date. In addition, prior to June 1, 2017, at its option, Enova may redeem up to 35% of the aggregate principal amount of the Enova 2021 Senior Notes at a redemption price equal to 109.75% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date, with the proceeds of certain equity offerings as described in the Enova 2021 Senior Notes Indenture. Additionally, if Enova and its subsidiaries’ guarantee of certain indebtedness of the Company as described in the Enova 2021 Senior Notes Indenture is not released on or before March 31, 2015, then Enova may redeem all of the Enova 2021 Senior Notes outstanding at a redemption price equal to 103% of the aggregate principal amount, plus accrued and unpaid interest, if any, to the redemption date (the “Special Redemption”), and if the Special Redemption does not occur, then the interest rate on the Enova 2021 Senior Notes will increase 2.0% per annum until Enova and its subsidiaries no longer guarantee certain indebtedness of the Company as described in the Enova 2021 Senior Notes Indenture. If a change of control occurs, as that term is defined in the Enova 2021 Senior Notes Indenture, the holders of the Enova 2021 Senior Notes will have the right, subject to certain conditions, to require Enova to repurchase the Enova 2021 Senior Notes at a purchase price equal to 101% of the aggregate principal amount, plus accrued and unpaid interest, if any, as of the date of repurchase. Enova’s ability to pay dividends or make distributions to the Company is subject to certain limitations in the Enova 2021 Senior Notes Indenture. | ||||||||||||
Additionally, on May 30, 2014, Enova entered into a registration rights agreement with Jefferies LLC as the initial purchaser (the “Enova Registration Rights Agreement”) of the Enova 2021 Senior Notes, pursuant to which Enova agreed to use commercially reasonable efforts to cause a registration statement to be declared effective on or prior to the 360th day following the closing date relating to an exchange offer of the Enova 2021 Senior Notes for identical new notes registered under the Securities Act. In certain circumstances, Enova may be required to file a shelf registration to cover resales of the Enova 2021 Senior Notes. If Enova does not comply with certain covenants set forth in the Enova Registration Rights Agreement, it must pay liquidated damages to holders of the Enova 2021 Senior Notes. If Enova fails to satisfy any of its registration obligations, it will be required to pay the holders of the Enova 2021 Senior Notes additional interest of 0.25% to 0.50% per annum until it satisfies its registration obligations. | ||||||||||||
Private Placement Notes | ||||||||||||
On May 9, 2014, the Company and its domestic subsidiaries, as guarantors, entered into an Omnibus Waiver, Consent, and Amendment Agreement (the “Waiver and Amendment”) with respect to its 6.09% Series A senior unsecured notes due 2016, 7.26% senior unsecured notes due 2017, 6.00% Series A senior unsecured notes due 2019, 6.21% Series B senior unsecured notes due 2021 and its 6.58% Series B senior unsecured notes due 2022 (collectively, the “Private Placement Notes”), which provided for Enova’s release as a guarantor for the Private Placement Notes upon completion of the Enova Debt Issuance. The Waiver and Amendment also required the Company to prepay the entire outstanding balance of Private Placement Notes, including any applicable make-whole premium, with proceeds received from Enova for repayment of intercompany indebtedness and payment of a dividend following the Enova Debt Issuance. The Company completed the prepayment of the Private Placement Notes in June 2014, which included an aggregate principal repayment of $106.2 million and a make-whole premium of $14.3 million. In conjunction with this prepayment, the Company recorded a loss on early extinguishment of debt of approximately $0.6 million, which is included in “Loss on early extinguishment of debt” in the consolidated statements of income. | ||||||||||||
Debt Agreement Compliance | ||||||||||||
The debt agreements for the Domestic and Multi-currency Line of Credit, the Enova Credit Facility, the 2018 Senior Notes and the Enova 2021 Senior Notes require the Company and Enova to maintain certain financial ratios. As of September 30, 2014, the Company and Enova, as applicable, were in compliance with all covenants or other requirements set forth in the debt agreements. |
Reclassification_of_OCI
Reclassification of OCI | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | |||||||||||||||||||||||
Reclassification out of Other Comprehensive Income | ' | |||||||||||||||||||||||
8. Reclassification out of Accumulated Other Comprehensive Income | ||||||||||||||||||||||||
The reclassification adjustments from accumulated other comprehensive income (“AOCI”) to net income for the three and nine months ended September 30, 2014 and 2013 were as follows (dollars in thousands): | ||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
30-Sep-14 | 30-Sep-14 | |||||||||||||||||||||||
Foreign | Marketable | Total | Foreign | Marketable | Total | |||||||||||||||||||
currency | securities, net | currency | securities, net | |||||||||||||||||||||
translation | of tax | translation | of tax | |||||||||||||||||||||
gain (loss), net | gain (loss), net | |||||||||||||||||||||||
of tax | of tax | |||||||||||||||||||||||
Balance at the beginning of period | $ | 7,998 | $ | — | $ | 7,998 | $ | 4,649 | $ | — | $ | 4,649 | ||||||||||||
Other comprehensive income before reclassifications | (5,973 | ) | — | (5,973 | ) | (2,624 | ) | — | (2,624 | ) | ||||||||||||||
Amounts reclassified from AOCI (a) | 48 | — | 48 | 48 | — | 48 | ||||||||||||||||||
Net change in AOCI | (5,925 | ) | — | (5,925 | ) | (2,576 | ) | — | (2,576 | ) | ||||||||||||||
Balance at the end of period | $ | 2,073 | $ | — | $ | 2,073 | $ | 2,073 | $ | — | $ | 2,073 | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
30-Sep-13 | 30-Sep-13 | |||||||||||||||||||||||
Foreign | Marketable | Total | Foreign | Marketable | Total | |||||||||||||||||||
currency | securities, net | currency | securities, net | |||||||||||||||||||||
translation | of tax | translation | of tax | |||||||||||||||||||||
gain (loss), | gain (loss), | |||||||||||||||||||||||
net of tax | net of tax | |||||||||||||||||||||||
Balance at the beginning of period | $ | (362 | ) | $ | — | $ | (362 | ) | $ | 2,874 | $ | 254 | $ | 3,128 | ||||||||||
Other comprehensive income before reclassifications | 2,976 | — | 2,976 | (260 | ) | 373 | 113 | |||||||||||||||||
Amounts reclassified from AOCI (b) | — | — | — | — | (627 | ) | (627 | ) | ||||||||||||||||
Net change in AOCI | 2,976 | — | 2,976 | (260 | ) | (254 | ) | (514 | ) | |||||||||||||||
Balance at the end of period | $ | 2,614 | $ | — | $ | 2,614 | $ | 2,614 | $ | — | $ | 2,614 | ||||||||||||
(a) | Includes a $74 reclassification of foreign currency loss into “Loss on divestiture” in connection with the divestiture of Mexico-based pawn operations for the three and nine months ended September 30, 2014. The tax impact of this reclassification was $26. | |||||||||||||||||||||||
(b) Includes a $964 impact of AOCI reclassifications into “Other revenue” for net gain on available-for-sale securities for the nine months | ||||||||||||||||||||||||
ended September 30, 2013. The tax impact of this reclassification was $337. |
Net_Income_Per_Share
Net Income Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Net Income Per Share | ' | |||||||||||||||
9. Net Income Per Share | ||||||||||||||||
Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per share is calculated by giving effect to the potential dilution that could occur if securities or other contracts to issue common shares were exercised and converted into common shares during the period. Restricted stock units issued under the Company’s stock-based employee compensation plans are included in diluted shares upon the granting of the awards even though the vesting of shares will occur over time. Performance-based awards are included in diluted shares based on the level of performance that management estimates is the most probable outcome at the grant date. Throughout the requisite service period, management monitors the probability of achievement of the performance condition and, if material, adjusts the number of shares included in diluted shares accordingly. | ||||||||||||||||
The following table sets forth the reconciliation of numerators and denominators of basic and diluted net income per share computations for the three and nine months ended September 30, 2014 and 2013 (dollars and shares in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Numerator: | ||||||||||||||||
Net income attributable to Cash America International, Inc. | $ | 9,916 | $ | 46,186 | $ | 76,624 | $ | 115,244 | ||||||||
Denominator: | ||||||||||||||||
Total weighted average basic shares(a) | 29,186 | 28,426 | 28,808 | 28,747 | ||||||||||||
Shares applicable to stock-based compensation(b) | 126 | 102 | 99 | 92 | ||||||||||||
Convertible debt(c) | — | 1,851 | 464 | 2,018 | ||||||||||||
Total weighted average diluted shares(d) | 29,312 | 30,379 | 29,371 | 30,857 | ||||||||||||
Net income – basic | $ | 0.34 | $ | 1.62 | $ | 2.66 | $ | 4.01 | ||||||||
Net income – diluted | $ | 0.34 | $ | 1.52 | $ | 2.61 | $ | 3.73 | ||||||||
(a) | Includes (i) vested and deferred restricted stock units of 299 and 301, as well as 32 and 31 shares held in the Company’s nonqualified savings plan for the three months ended September 30, 2014 and 2013, respectively, and (ii) vested and deferred restricted stock units of 306 and 308, as well as 32 and 31 shares held in the Company’s nonqualified savings plan for the nine months ended September 30, 2014 and 2013, respectively. | |||||||||||||||
(b) | Includes shares related to unvested restricted stock unit awards. | |||||||||||||||
(c) | On May 15, 2014, the Company called the notes and the noteholders elected to convert such notes. The Company settled the principal portion of the outstanding 2029 Convertible Notes in cash and issued 747,085 of the Company’s common shares related to the conversion spread. Prior to the repayment of the 2029 Convertible Notes, only the shares related to the conversion spread were included in weighted average diluted shares, because the Company intended to pay the principal portion of the notes in cash. See Note 7 for further discussion of the 2029 Convertible Notes. | |||||||||||||||
(d) | There were no anti-dilutive shares for the three months ended September 30, 2014 and 5 anti-dilutive shares for the nine months ended September 30, 2014, respectively, and no anti-dilutive shares for the three months ended September 30, 2013 and 25 anti-dilutive shares for the nine months ended September 30, 2013, respectively. |
Operating_Segment_Information
Operating Segment Information | 9 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Operating Segment Information | ' | |||||||||||||||||||||||||||||||||||
10. Operating Segment Information | ||||||||||||||||||||||||||||||||||||
The Company has two reportable operating segments: retail services and e-commerce. The retail services segment includes all of the operations of the Company’s Retail Services Division, which is composed of domestic storefront locations and, prior to the Company’s sale of its Mexico-based pawn operations in August 2014, foreign storefront locations that offer some or all of the following services: pawn loans, consumer loans, the purchase and sale of merchandise, check cashing and other ancillary products and services such as 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. The e-commerce segment includes the operations of the Company’s E-Commerce Division, which is composed of the Company’s domestic and foreign online lending channels through which the Company offers or arranges consumer loans. The Company reports corporate operations separately from its retail services and e-commerce segment information. | ||||||||||||||||||||||||||||||||||||
Corporate operations primarily include corporate expenses such as legal, occupancy, executive oversight, insurance and risk management, public and government relations, internal audit, treasury, payroll, compliance and licensing, finance, accounting, tax and information systems (except for online lending systems, which are included in the e-commerce segment). Corporate income includes miscellaneous income not directly attributable to the Company’s segments. Corporate assets primarily include corporate property and equipment, nonqualified savings plan assets, marketable securities, foreign exchange forward contracts and prepaid insurance. | ||||||||||||||||||||||||||||||||||||
During the first quarter of 2014, the Company changed the presentation of financial information within its e-commerce segment to report certain administrative and depreciation and amortization expenses within that segment separately from its domestic and foreign operating components. Administrative expenses in the e-commerce segment, which were previously allocated between the domestic and foreign components based on the amount of loans written and renewed, are included under the “Admin” heading within the e-commerce segment information in the following tables. Depreciation and amortization related to the e-commerce administrative function is also included in this category. For comparison purposes, amounts for prior years have been conformed to the current presentation. | ||||||||||||||||||||||||||||||||||||
The following tables contain operating segment data for the three and nine months ended September 30, 2014 and 2013 by segment, for the Company’s corporate operations and on a consolidated basis (dollars in thousands): | ||||||||||||||||||||||||||||||||||||
Retail Services | E-Commerce | |||||||||||||||||||||||||||||||||||
Domestic | Foreign | Total | Domestic | Foreign | Admin | Total | Corporate | Consolidated | ||||||||||||||||||||||||||||
Three Months Ended September 30, 2014 | ||||||||||||||||||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||||||||||||
Pawn loan fees and service charges | $ | 84,081 | $ | 1,232 | $ | 85,313 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 85,313 | ||||||||||||||||||
Proceeds from disposition of merchandise | 151,399 | 3,688 | 155,087 | — | — | — | — | — | 155,087 | |||||||||||||||||||||||||||
Consumer loan fees | 24,831 | — | 24,831 | 126,123 | 78,481 | — | 204,604 | — | 229,435 | |||||||||||||||||||||||||||
Other | 1,564 | 38 | 1,602 | 7 | 557 | — | 564 | 177 | 2,343 | |||||||||||||||||||||||||||
Total revenue | 261,875 | 4,958 | 266,833 | 126,130 | 79,038 | — | 205,168 | 177 | 472,178 | |||||||||||||||||||||||||||
Cost of revenue | ||||||||||||||||||||||||||||||||||||
Disposed merchandise | 111,216 | 3,077 | 114,293 | — | — | — | — | — | 114,293 | |||||||||||||||||||||||||||
Consumer loan loss provision | 8,614 | — | 8,614 | 55,058 | 17,861 | — | 72,919 | — | 81,533 | |||||||||||||||||||||||||||
Total cost of revenue | 119,830 | 3,077 | 122,907 | 55,058 | 17,861 | — | 72,919 | — | 195,826 | |||||||||||||||||||||||||||
Net revenue | 142,045 | 1,881 | 143,926 | 71,072 | 61,177 | — | 132,249 | 177 | 276,352 | |||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||
Operations and administration | 100,128 | 1,740 | 101,868 | 32,201 | 23,238 | 25,857 | 81,296 | 22,567 | 205,731 | |||||||||||||||||||||||||||
Loss on divestitures | 273 | 4,903 | 5,176 | — | — | — | — | — | 5,176 | |||||||||||||||||||||||||||
Depreciation and amortization | 9,931 | 280 | 10,211 | 2,618 | 601 | 2,119 | 5,338 | 4,895 | 20,444 | |||||||||||||||||||||||||||
Total expenses | 110,332 | 6,923 | 117,255 | 34,819 | 23,839 | 27,976 | 86,634 | 27,462 | 231,351 | |||||||||||||||||||||||||||
Income (loss) from operations | $ | 31,713 | $ | (5,042 | ) | $ | 26,671 | $ | 36,253 | $ | 37,338 | $ | (27,976 | ) | $ | 45,615 | $ | (27,285 | ) | $ | 45,001 | |||||||||||||||
As of September 30, 2014 | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 1,385,469 | $ | 714,876 | $ | 2,100,345 | ||||||||||||||||||||||||||||||
Goodwill | $ | 488,700 | $ | 210,361 | $ | 699,061 | ||||||||||||||||||||||||||||||
Retail Services | E-Commerce | |||||||||||||||||||||||||||||||||||
Domestic | Foreign | Total | Domestic | Foreign | Admin | Total | Corporate | Consolidated | ||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||||||||||||
Pawn loan fees and service charges | $ | 77,532 | $ | 1,766 | $ | 79,298 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 79,298 | ||||||||||||||||||
Proceeds from disposition of merchandise | 124,352 | 4,308 | 128,660 | — | — | — | — | — | 128,660 | |||||||||||||||||||||||||||
Consumer loan fees | 29,504 | — | 29,504 | 104,954 | 93,105 | — | 198,059 | — | 227,563 | |||||||||||||||||||||||||||
Other | 1,731 | 66 | 1,797 | 249 | 69 | — | 318 | 165 | 2,280 | |||||||||||||||||||||||||||
Total revenue | 233,119 | 6,140 | 239,259 | 105,203 | 93,174 | — | 198,377 | 165 | 437,801 | |||||||||||||||||||||||||||
Cost of revenue | ||||||||||||||||||||||||||||||||||||
Disposed merchandise | 87,530 | 3,571 | 91,101 | — | — | — | — | — | 91,101 | |||||||||||||||||||||||||||
Consumer loan loss provision | 10,037 | — | 10,037 | 49,225 | 40,431 | — | 89,656 | — | 99,693 | |||||||||||||||||||||||||||
Total cost of revenue | 97,567 | 3,571 | 101,138 | 49,225 | 40,431 | — | 89,656 | — | 190,794 | |||||||||||||||||||||||||||
Net revenue | 135,552 | 2,569 | 138,121 | 55,978 | 52,743 | — | 108,721 | 165 | 247,007 | |||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||
Operations and administration | 111,220 | 2,831 | 114,051 | 30,445 | 25,245 | 15,556 | 71,246 | 14,408 | 199,705 | |||||||||||||||||||||||||||
Depreciation and amortization | 9,878 | 764 | 10,642 | 1,906 | 706 | 1,346 | 3,958 | 4,183 | 18,783 | |||||||||||||||||||||||||||
Total expenses | 121,098 | 3,595 | 124,693 | 32,351 | 25,951 | 16,902 | 75,204 | 18,591 | 218,488 | |||||||||||||||||||||||||||
Income (loss) from operations | $ | 14,454 | $ | (1,026 | ) | $ | 13,428 | $ | 23,627 | $ | 26,792 | $ | (16,902 | ) | $ | 33,517 | $ | (18,426 | ) | $ | 28,519 | |||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 1,354,074 | $ | 633,518 | $ | 1,987,592 | ||||||||||||||||||||||||||||||
Goodwill | $ | 459,669 | $ | 210,368 | $ | 670,037 | ||||||||||||||||||||||||||||||
Retail Services | E-Commerce | |||||||||||||||||||||||||||||||||||
Domestic | Foreign | Total | Domestic | Foreign | Admin | Total | Corporate | Consolidated | ||||||||||||||||||||||||||||
Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||||||||||||
Pawn loan fees and service charges | $ | 241,459 | $ | 5,031 | $ | 246,490 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 246,490 | ||||||||||||||||||
Proceeds from disposition of merchandise | 466,016 | 12,298 | 478,314 | — | — | — | — | — | 478,314 | |||||||||||||||||||||||||||
Consumer loan fees | 74,490 | — | 74,490 | 343,922 | 270,544 | — | 614,466 | — | 688,956 | |||||||||||||||||||||||||||
Other | 5,284 | 168 | 5,452 | 81 | 568 | — | 649 | 507 | 6,608 | |||||||||||||||||||||||||||
Total revenue | 787,249 | 17,497 | 804,746 | 344,003 | 271,112 | — | 615,115 | 507 | 1,420,368 | |||||||||||||||||||||||||||
Cost of revenue | ||||||||||||||||||||||||||||||||||||
Disposed merchandise | 333,651 | 9,716 | 343,367 | — | — | — | — | — | 343,367 | |||||||||||||||||||||||||||
Consumer loan loss provision | 24,061 | — | 24,061 | 122,422 | 83,239 | — | 205,661 | — | 229,722 | |||||||||||||||||||||||||||
Total cost of revenue | 357,712 | 9,716 | 367,428 | 122,422 | 83,239 | — | 205,661 | — | 573,089 | |||||||||||||||||||||||||||
Net revenue | 429,537 | 7,781 | 437,318 | 221,581 | 187,873 | — | 409,454 | 507 | 847,279 | |||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||
Operations and administration | 301,470 | 8,375 | 309,845 | 81,425 | 72,419 | 67,883 | 221,727 | 60,720 | 592,292 | |||||||||||||||||||||||||||
Loss on divestitures | 273 | 4,903 | 5,176 | — | — | — | — | — | 5,176 | |||||||||||||||||||||||||||
Depreciation and amortization | 30,357 | 1,104 | 31,461 | 6,577 | 1,683 | 5,512 | 13,772 | 13,969 | 59,202 | |||||||||||||||||||||||||||
Total expenses | 332,100 | 14,382 | 346,482 | 88,002 | 74,102 | 73,395 | 235,499 | 74,689 | 656,670 | |||||||||||||||||||||||||||
Income (loss) from operations | $ | 97,437 | $ | (6,601 | ) | $ | 90,836 | $ | 133,579 | $ | 113,771 | $ | (73,395 | ) | $ | 173,955 | $ | (74,182 | ) | $ | 190,609 | |||||||||||||||
Retail Services | E-Commerce | |||||||||||||||||||||||||||||||||||
Domestic | Foreign | Total | Domestic | Foreign | Admin | Total | Corporate | Consolidated | ||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||||||||||||
Pawn loan fees and service charges | $ | 222,508 | $ | 5,432 | $ | 227,940 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 227,940 | ||||||||||||||||||
Proceeds from disposition of merchandise | 425,716 | 13,193 | 438,909 | — | — | — | — | — | 438,909 | |||||||||||||||||||||||||||
Consumer loan fees | 84,473 | — | 84,473 | 283,097 | 272,629 | — | 555,726 | — | 640,199 | |||||||||||||||||||||||||||
Other | 6,149 | 417 | 6,566 | 1,051 | 92 | — | 1,143 | 1,552 | 9,261 | |||||||||||||||||||||||||||
Total revenue | 738,846 | 19,042 | 757,888 | 284,148 | 272,721 | — | 556,869 | 1,552 | 1,316,309 | |||||||||||||||||||||||||||
Cost of revenue | ||||||||||||||||||||||||||||||||||||
Disposed merchandise | 290,569 | 10,828 | 301,397 | — | — | — | — | — | 301,397 | |||||||||||||||||||||||||||
Consumer loan loss provision | 23,927 | — | 23,927 | 112,391 | 115,456 | — | 227,847 | — | 251,774 | |||||||||||||||||||||||||||
Total cost of revenue | 314,496 | 10,828 | 325,324 | 112,391 | 115,456 | — | 227,847 | — | 553,171 | |||||||||||||||||||||||||||
Net revenue | 424,350 | 8,214 | 432,564 | 171,757 | 157,265 | — | 329,022 | 1,552 | 763,138 | |||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||
Operations and administration | 291,409 | 9,432 | 300,841 | 73,688 | 76,176 | 52,071 | 201,935 | 50,695 | 553,471 | |||||||||||||||||||||||||||
Depreciation and amortization | 27,579 | 1,593 | 29,172 | 6,866 | 2,101 | 4,019 | 12,986 | 12,156 | 54,314 | |||||||||||||||||||||||||||
Total expenses | 318,988 | 11,025 | 330,013 | 80,554 | 78,277 | 56,090 | 214,921 | 62,851 | 607,785 | |||||||||||||||||||||||||||
Income (loss) from operations | $ | 105,362 | $ | (2,811 | ) | $ | 102,551 | $ | 91,203 | $ | 78,988 | $ | (56,090 | ) | $ | 114,101 | $ | (61,299 | ) | $ | 155,353 | |||||||||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||||||||
Commitments and Contingencies | ' | |||||||||||||||||||||||||||
11. Commitments and Contingencies | ||||||||||||||||||||||||||||
Leases | ||||||||||||||||||||||||||||
The Company leases certain of its facilities under operating leases with terms ranging from one to 22 years and certain rights to extend for additional periods. Except as described below, as of September 30, 2014 there were no material changes to the Company’s lease obligations from December 31, 2013. | ||||||||||||||||||||||||||||
On July 25, 2014, Enova entered into new office lease agreements for approximately 160,000 square feet of office space for its headquarters in Chicago, Illinois. The lease term is 12 years, with options to renew for two five-year terms. Under the terms of the lease, Enova was provided $9.8 million in leasehold incentives and $8.5 million in rent abatements. Enova is responsible for paying its proportionate share of the actual operating expenses and real estate taxes under this arrangement. As of September 30, 2014 and until completion of the proposed tax-free spin-off of approximately 80% of the outstanding shares of Enova to holders of the Company’s common stock (“Enova Spin-off”), the lease obligations of Enova are also the Company’s obligations. Upon completion of the Enova Spin-off, all of the lease obligations of Enova shown below will become solely the lease obligations of Enova. See Note 15 for further discussion of the Enova Spin-off. | ||||||||||||||||||||||||||||
Total future minimum rentals under non-cancelable leases for Enova as of December 31, 2013 were $10.9 million. As of September 31, 2014, future minimum rentals due under Enova’s non-cancelable leases are as follows (dollars in thousands): | ||||||||||||||||||||||||||||
(in thousands) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||
Lease obligations of Enova | $ | 825 | $ | 3,351 | $ | 3,324 | $ | 5,864 | $ | 5,023 | $ | 47,883 | $ | 66,270 | ||||||||||||||
Litigation | ||||||||||||||||||||||||||||
The Company is a defendant in certain routine litigation matters encountered in the ordinary course of its business. Certain of these matters are covered to an extent by insurance. In the opinion of management, the resolution of these matters is not expected to have a material adverse effect on the Company’s financial position, results of operations or liquidity. | ||||||||||||||||||||||||||||
Consumer Financial Protection Bureau | ||||||||||||||||||||||||||||
On November 20, 2013, the Company consented to the issuance of a Consent Order by the Consumer Financial Protection Bureau (the “CFPB”) pursuant to which it agreed, without admitting or denying any of the facts or conclusions made by the CFPB from its 2012 review of the Company, among other things, to set aside $8.0 million of cash for a period of 180 days to fund any further payments to eligible Ohio customers who make valid claims in connection with the Company’s voluntary program that was announced in December 2012 to fully reimburse approximately 14,000 Ohio customers for all funds collected, plus interest accrued from the date collected, in connection with legal collections proceedings initiated by the Company in Ohio from January 1, 2008 through December 4, 2012 (the “Ohio Reimbursement Program”). The decision to make voluntary reimbursements in connection with the Ohio Reimbursement Program was made by the Company in 2012 because the Company determined that a small number of employees did not prepare certain court documents in many of its Ohio legal collections proceedings in accordance with court rules. The extended claims period required by the CFPB has expired. The Company has refunded approximately $6.4 million in connection with this program. | ||||||||||||||||||||||||||||
The $8.0 million of cash set aside was classified as restricted cash on the Company’s consolidated balance sheets. In June 2014, following the expiration of the 180-day period extended claims period, the Company released $7.9 million of restricted cash. As of September 30, 2014, the remaining balance in restricted cash is approximately $60 thousand, reflecting the amount of refunds that were still outstanding as of that date. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||
12. Fair Value Measurements | |||||||||||||||||||
Recurring Fair Value Measurements | |||||||||||||||||||
In accordance with ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), certain of the Company’s assets and liabilities, which are carried at fair value, are classified in one of the following three categories: | |||||||||||||||||||
Level 1: Quoted market prices in active markets for identical assets or liabilities. | |||||||||||||||||||
Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. | |||||||||||||||||||
Level 3: Unobservable inputs that are not corroborated by market data. | |||||||||||||||||||
The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2014 and 2013 and December 31, 2013 are as follows (dollars in thousands): | |||||||||||||||||||
September 30, | Fair Value Measurements Using | ||||||||||||||||||
2014 | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets (liabilities): | |||||||||||||||||||
Forward currency exchange contracts | $ | 29 | $ | — | $ | 29 | $ | — | |||||||||||
Nonqualified savings plans’ assets(a) | 13,480 | 13,480 | — | — | |||||||||||||||
Total | $ | 13,509 | $ | 13,480 | $ | 29 | $ | — | |||||||||||
September 30, | Fair Value Measurements Using | ||||||||||||||||||
2013 | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets (liabilities): | |||||||||||||||||||
Forward currency exchange contracts | $ | (790 | ) | $ | — | $ | (790 | ) | $ | — | |||||||||
Nonqualified savings plans’ assets(a) | 13,455 | 13,455 | — | — | |||||||||||||||
Total | $ | 12,665 | $ | 13,455 | $ | (790 | ) | $ | — | ||||||||||
December 31, | Fair Value Measurements Using | ||||||||||||||||||
2013 | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||
Forward currency exchange contracts | $ | 6 | $ | — | $ | 6 | $ | — | |||||||||||
Nonqualified savings plans’ assets(a) | 14,576 | 14,576 | — | — | |||||||||||||||
Total | $ | 14,582 | $ | 14,576 | $ | 6 | $ | — | |||||||||||
(a) The nonqualified savings plan assets have an offsetting liability of an approximately equal amount, which is included in “Accounts payable and accrued expenses” in the Company’s consolidated balance sheets. | |||||||||||||||||||
The Company measures the fair value of its forward currency exchange contracts under Level 2 inputs as defined by ASC 820. For these forward currency exchange contracts, current market rates are used to determine fair value. The significant inputs used in these models are derived from observable market rates. The fair value of the Company’s nonqualified savings plan assets are measured under a Level 1 input. These assets are publicly traded equity securities for which market prices are readily observable. During the nine months ended September 30, 2014 and 2013, there were no transfers of assets in or out of Level 1 or Level 2 fair value measurements. | |||||||||||||||||||
Financial Assets and Liabilities Not Measured at Fair Value | |||||||||||||||||||
The Company’s financial assets and liabilities as of September 30, 2014 and 2013 and December 31, 2013 that are not measured at fair value in the consolidated balance sheets are as follows (dollars in thousands): | |||||||||||||||||||
Carrying Value | Estimated Fair Value | ||||||||||||||||||
September 30, | September 30, | Fair Value Measurement Using | |||||||||||||||||
2014 | 2014 | Level 1 | Level 2 | Level 3 | |||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and cash equivalents | $ | 123,532 | $ | 123,532 | $ | 123,532 | $ | — | $ | — | |||||||||
Restricted cash | 60 | 60 | 60 | — | — | ||||||||||||||
Pawn loans | 264,612 | 264,612 | — | — | 264,612 | ||||||||||||||
Short-term loans and line of credit accounts, net | 178,338 | 178,338 | — | — | 178,338 | ||||||||||||||
Installment loans, net | 169,887 | 169,887 | — | — | 169,887 | ||||||||||||||
Pawn loan fees and service charges receivable | 54,501 | 54,501 | — | — | 54,501 | ||||||||||||||
Total | $ | 790,930 | $ | 790,930 | $ | 123,592 | $ | — | $ | 667,338 | |||||||||
Financial liabilities: | |||||||||||||||||||
Liability for estimated losses on consumer loans guaranteed by the Company | $ | 2,532 | $ | 2,532 | $ | — | $ | — | $ | 2,532 | |||||||||
Domestic and Multi-currency Line of credit | 9,552 | 10,035 | — | 10,035 | — | ||||||||||||||
Senior unsecured notes | 690,491 | 703,838 | 203,838 | (a) | 500,000 | — | |||||||||||||
Total | $ | 702,575 | $ | 716,405 | $ | 203,838 | $ | 510,035 | $ | 2,532 | |||||||||
(a) The 2018 Senior Notes were transferred from Level 2 to Level 1 in the first quarter of 2014 in conjunction with the Company’s registration of these notes with the SEC in January 2014. See Note 7 for further discussion of the 2018 Senior Notes. | |||||||||||||||||||
Carrying Value | Estimated Fair Value | ||||||||||||||||||
September 30, | September 30, | Fair Value Measurement Using | |||||||||||||||||
2013 | 2013 | Level 1 | Level 2 | Level 3 | |||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and cash equivalents | $ | 80,359 | $ | 80,359 | $ | 80,359 | $ | — | $ | — | |||||||||
Pawn loans | 253,678 | 253,678 | — | — | 253,678 | ||||||||||||||
Short-term loans and line of credit accounts, net | 187,869 | 187,869 | — | — | 187,869 | ||||||||||||||
Installment loans, net | 140,412 | 140,412 | — | — | 140,412 | ||||||||||||||
Pawn loan fees and service charges receivable | 50,090 | 50,090 | — | — | 50,090 | ||||||||||||||
Total | $ | 712,408 | $ | 712,408 | $ | 80,359 | $ | — | $ | 632,049 | |||||||||
Financial liabilities: | |||||||||||||||||||
Liability for estimated losses on consumer loans guaranteed by the Company | $ | 2,830 | $ | 2,830 | $ | — | $ | — | $ | 2,830 | |||||||||
Domestic and Multi-currency Line of credit | 120,225 | 126,260 | — | 126,260 | $ | — | |||||||||||||
Senior unsecured notes | 455,872 | 445,888 | — | 445,888 | — | ||||||||||||||
2029 Convertible Notes | 106,752 | 195,612 | — | 195,612 | — | ||||||||||||||
Total | $ | 685,679 | $ | 770,590 | $ | — | $ | 767,760 | $ | 2,830 | |||||||||
Carrying Value | Estimated Fair Value | ||||||||||||||||||
December 31, | December 31, | Fair Value Measurement Using | |||||||||||||||||
2013 | 2013 | Level 1 | Level 2 | Level 3 | |||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and cash equivalents | $ | 67,228 | $ | 67,228 | $ | 67,228 | $ | — | $ | — | |||||||||
Restricted cash | 8,000 | 8,000 | 8,000 | — | — | ||||||||||||||
Pawn loans | 261,148 | 261,148 | — | — | 261,148 | ||||||||||||||
Short-term loans and line of credit accounts, net | 202,829 | 202,829 | — | — | 202,829 | ||||||||||||||
Installment loans, net | 156,012 | 156,012 | — | — | 156,012 | ||||||||||||||
Pawn loan fees and service charges receivable | 53,438 | 53,438 | — | — | 53,438 | ||||||||||||||
Total | $ | 748,655 | $ | 748,655 | $ | 75,228 | $ | — | $ | 673,427 | |||||||||
Financial liabilities: | |||||||||||||||||||
Liability for estimated losses on consumer loans guaranteed by the Company | $ | 3,080 | $ | 3,080 | $ | — | $ | — | $ | 3,080 | |||||||||
Domestic and Multi-currency Line of credit | 193,717 | 207,426 | — | 207,426 | $ | — | |||||||||||||
Senior unsecured notes | 444,515 | 430,554 | — | 430,554 | — | ||||||||||||||
2029 Convertible Notes | 101,757 | 155,788 | — | 155,788 | — | ||||||||||||||
Total | $ | 743,069 | $ | 796,848 | $ | — | $ | 793,768 | $ | 3,080 | |||||||||
Pawn loans generally have maturity periods of less than 90 days. If a pawn loan defaults, the Company disposes of the collateral. Historically, collateral has sold for an amount in excess of the principal amount of the loan. | |||||||||||||||||||
Short-term loans, line of credit accounts and installment loans are carried in the consolidated balance sheet net of the allowance for estimated loan losses, which is calculated by applying historical loss rates combined with recent default trends to the gross consumer loan balance. The unobservable inputs used to calculate the fair value of these loans include historical loss rates, recent default trends and estimated remaining loan terms; therefore, the carrying value approximates the fair value. Short-term loans and line of credit accounts have relatively short maturity periods that are generally 12 months or less. The fair value of unsecured and secured installment loans are estimated using a discounted cash flow analysis, which considers interest rates offered for loans with similar terms to borrowers of similar credit quality. The carrying values of the Company’s installment loans approximate the fair value of these loans. | |||||||||||||||||||
Pawn loan fees and service charges receivable are accrued ratably over the term of the loan based on the portion of these pawn loans deemed collectible. The Company uses historical performance data to determine collectability of pawn loan fees and service charges receivable. Additionally, pawn loan fees and service charge rates are determined by regulations and bear no valuation relationship to the capital markets’ interest rate movements. | |||||||||||||||||||
In connection with its CSO programs, the Company guarantees consumer loan payment obligations to unrelated third-party lenders for short-term loans and installment loans that are secured by a customer’s vehicle and is required to purchase any defaulted loans it has guaranteed. The Company measures the fair value of its liability for third-party lender-owned consumer loans under Level 3 inputs. The fair value of these liabilities is calculated by applying historical loss rates combined with recent default trends to the gross consumer loan balance. The unobservable inputs used to calculate the fair value of these loans include historical loss rates, recent default trends and estimated remaining loan terms; therefore, the carrying value of these liabilities approximates the fair value. | |||||||||||||||||||
The Company measures the fair value of long-term debt instruments that are registered with the SEC using Level 1 inputs. The Company measures the fair value of its senior unsecured notes using Level 2 inputs. The fair values of the Company’s senior unsecured notes are estimated based on market values for debt issues with similar characteristics or rates currently available for debt with similar terms. As of September 30, 2014, the Company’s senior unsecured notes had a higher fair market value than the carrying value due to the difference in yield when compared to recent issuances of similar senior unsecured notes. |
Derivative_Instruments
Derivative Instruments | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | ' | |||||||||||||||||||||||
Derivative Instruments | ' | |||||||||||||||||||||||
13. Derivative Instruments | ||||||||||||||||||||||||
The Company periodically uses derivative instruments to manage risk from changes in market conditions that may affect the Company’s financial performance. The Company primarily uses derivative instruments to manage its primary market risks, which are interest rate risk and foreign currency exchange rate risk. | ||||||||||||||||||||||||
The Company uses forward currency exchange contracts to hedge foreign currency risk in some of the foreign countries in which it does business. The Company’s forward currency exchange contracts are non-designated derivatives. Any gain or loss resulting from these contracts is recorded as income or loss and is included in “Foreign currency transaction gain (loss)” in the Company’s consolidated statements of income. | ||||||||||||||||||||||||
The Company’s derivative instruments are presented in its financial statements on a net basis. The following table presents information related to the Company’s derivative instruments as of September 30, 2014 and 2013 and December 31, 2013 (dollars in thousands): | ||||||||||||||||||||||||
Non-designated derivatives: | As of September 30, 2014 | |||||||||||||||||||||||
Forward currency exchange contracts | Notional | Gross Amounts | Gross Amounts | Net Amounts | ||||||||||||||||||||
Amount | of Recognized Financial Instruments | Offset in the | Presented in the | |||||||||||||||||||||
Consolidated | Consolidated Balance | |||||||||||||||||||||||
Balance Sheets(a) | Sheets(b) | |||||||||||||||||||||||
Assets | $ | 8,312 | $ | 29 | $ | — | $ | 29 | ||||||||||||||||
Liabilities | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Non-designated derivatives: | As of September 30, 2013 | |||||||||||||||||||||||
Forward currency exchange contracts | Notional | Gross Amounts | Gross Amounts | Net Amounts | ||||||||||||||||||||
Amount | of Recognized Financial Instruments | Offset in the | Presented in the | |||||||||||||||||||||
Consolidated | Consolidated Balance | |||||||||||||||||||||||
Balance Sheets(a) | Sheets(b) | |||||||||||||||||||||||
Assets | $ | 4,480 | $ | 9 | $ | (9 | ) | $ | — | |||||||||||||||
Liabilities | $ | 92,810 | $ | 799 | $ | (9 | ) | $ | 790 | |||||||||||||||
Non-designated derivatives: | As of December 31, 2013 | |||||||||||||||||||||||
Forward currency exchange contracts | Notional | Gross Amounts | Gross Amounts | Net Amounts | ||||||||||||||||||||
Amount | of Recognized Financial Instruments | Offset in the | Presented in the | |||||||||||||||||||||
Consolidated | Consolidated Balance | |||||||||||||||||||||||
Balance Sheets(a) | Sheets(b) | |||||||||||||||||||||||
Assets | $ | 76,760 | $ | 27 | $ | (11 | ) | $ | 16 | |||||||||||||||
Liabilities | $ | 4,786 | $ | 21 | $ | (11 | ) | $ | 10 | |||||||||||||||
(a) As of September 30, 2014, the Company had no gross amounts of recognized derivative instruments that the Company makes an accounting policy election not to offset. In addition, there is no financial collateral related to the Company’s derivatives. | ||||||||||||||||||||||||
(b) Represents the fair value of forward currency exchange contracts, which is recorded in “Prepaid expenses and other assets” in the | ||||||||||||||||||||||||
consolidated balance sheets. | ||||||||||||||||||||||||
The following table presents information on the effect of derivative instruments on the consolidated results of operations and AOCI for the three and nine months ended September 30, 2014 and 2013 (dollars in thousands): | ||||||||||||||||||||||||
Gains (Losses) Recognized | Gains Recognized in AOCI | Gains (Losses) Reclassified | ||||||||||||||||||||||
in Income | From AOCI into Income | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | Three Months Ended | ||||||||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Non-designated derivatives: | ||||||||||||||||||||||||
Forward currency exchange contracts(a) | $ | 401 | $ | (5,432 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||
Total | $ | 401 | $ | (5,432 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||
Gains (Losses) Recognized | Gains Recognized in AOCI | Gains (Losses) Reclassified | ||||||||||||||||||||||
in Income | From AOCI into Income | |||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Non-designated derivatives: | ||||||||||||||||||||||||
Forward currency exchange contracts(a) | $ | (1,354 | ) | $ | (181 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||
Total | $ | (1,354 | ) | $ | (181 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||
(a) The gains/(losses) on these derivatives substantially offset the (losses)/gains on the hedged portion of foreign intercompany balances. |
Corporate_Reorganization_Corpo
Corporate Reorganization Corporate Reorganization | 9 Months Ended |
Sep. 30, 2014 | |
Reorganizations [Abstract] | ' |
Corporate Reorganization [Text Block] | ' |
14. Corporate Reorganization | |
In August 2014, in anticipation of the Company’s proposed Enova Spin-off, the Company initiated a reorganization of its corporate functions (the “Corporate Reorganization”) to better align the overhead cost structure with its storefront operations that will remain if the spin-off is completed. In connection with the Corporate Reorganization, the Company incurred charges for severance and other employee-related costs. The Company recognized $6.1 million of charges related to the Corporate Reorganization during the third quarter of 2014, which are included in “Operations and administration” in the consolidated statements of income. As of September 30, 2014, the Company had made payments of approximately $2.1 million for the Corporate Reorganization and had accrued approximately $4.0 million for future payments related to the Corporate Reorganization. Accrued amounts for the Corporate Reorganization are included in “Accounts payable and accrued expenses” in the consolidated balance sheets. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
15. Subsequent Events | |
Board Approval for Enova Spin-off | |
On October 22, 2014, after receiving a private letter ruling from the Internal Revenue Service, an opinion from the Company’s tax counsel and a solvency opinion from an independent financial advisor, the Company’s Board of Directors approved the Enova Spin-off. Subject to the satisfaction of certain conditions to the spin-off, the distribution is expected to occur at 12:01 am ET on November 13, 2014. The Company’s shareholders will receive 0.915 shares of Enova common stock for every one share of Company common stock held at the close of business November 3, 2014, which is the record date for the distribution. Following the distribution of Enova common stock, Enova will be an independent, publicly traded company. Enova has been approved to list its shares of common stock on the New York Stock Exchange under the symbol “ENVA.” |
Significant_Accounting_Policie1
Significant Accounting Policies (Policy) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||
Basis Of Presentation | ' | ||||||||||||||||||||||||
Basis of Presentation | |||||||||||||||||||||||||
The consolidated financial statements include all of the accounts of Cash America International, Inc. and its subsidiaries (collectively, the “Company”). All significant intercompany accounts and transactions have been eliminated in consolidation. | |||||||||||||||||||||||||
The financial statements presented as of September 30, 2014 and 2013 and December 31, 2013 and for the three- and nine-month periods ended September 30, 2014 and 2013 are unaudited but, in management’s opinion, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for such interim periods. The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by generally accepted accounting principles in the United States of America (“GAAP”). Operating results for the three- and nine-month periods are not necessarily indicative of the results that may be expected for the full fiscal year. Certain amounts in the consolidated financial statements for the three and nine months ended September 30, 2013 and as of September 30, 2014 and 2013 and as of December 31, 2013 have been reclassified to conform to the current year presentation. These reclassifications have no effect on the net income previously reported. See “Revision of Prior Period Financial Statements” for further discussion. | |||||||||||||||||||||||||
These financial statements and related notes should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |||||||||||||||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||
The Company considers cash on hand in operating locations, deposits in banks and short-term investments with original maturities of 90 days or less as cash and cash equivalents. | |||||||||||||||||||||||||
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' | ||||||||||||||||||||||||
Goodwill and Other Indefinite-Lived Intangible Assets | |||||||||||||||||||||||||
Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. In accordance with Accounting Standards Codification (“ASC”) 350-20-35, Goodwill - Subsequent Measurement, the Company tests goodwill and intangible assets with an indefinite life for potential impairment annually as of June 30 and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. | |||||||||||||||||||||||||
The Company uses the income approach to complete its annual goodwill assessment. The income approach uses expected future cash flows and estimated terminal values for each of the Company’s reporting units that are discounted using a market participant perspective to determine the estimated fair value of each reporting unit, which is then compared to the carrying value of that reporting unit to determine if there is impairment. The income approach includes assumptions about revenue growth rates, operating margins and terminal growth rates discounted by an estimated weighted-average cost of capital derived from other publicly-traded companies that are similar but not identical from an operational and economic standpoint. The Company completed its annual assessment of goodwill as of June 30, 2014 and determined that the fair value of its goodwill is in excess of carrying value, and, as a result, no impairment existed at that date. See Note 2 for a discussion of the goodwill assessment completed in August 2014 as a result of the divestiture of the Company's Mexico-based pawn operations. | |||||||||||||||||||||||||
The Company performed its annual indefinite-lived intangible asset impairment test as of June 30, 2014. The Company elected to perform a qualitative assessment in accordance with Accounting Standards Update (“ASU”) No. 2012-02, Intangibles-Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment (“ASU 2012-02”), and determined that it was not more likely than not that the indefinite-lived intangible assets are impaired. Therefore, no further quantitative assessment was required. | |||||||||||||||||||||||||
Adopted Accounting Standards | ' | ||||||||||||||||||||||||
Adopted Accounting Standards | |||||||||||||||||||||||||
In April 2014, the Financial Accounting Standards Board (the “FASB”) issued ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). The amendments in ASU 2014-08 change the criteria for reporting discontinued operations and enhance disclosures in this area. The new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income or loss attributable to a disposal of an individually significant component of an organization that does not qualify for discontinued operations presentation in the financial statements. The Company is required to adopt ASU 2014-08 prospectively for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014 and interim periods within those years. Early adoption is permitted. The Company adopted ASU 2014-08 on June 30, 2014, and the adoption did not have a material effect on its financial position or results of operations. | |||||||||||||||||||||||||
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”), which provides guidance on the presentation of unrecognized tax benefits when net operating loss carryforwards, similar tax losses, or tax credit carryforwards exist. The amendments in this update are effective for fiscal years (and interim periods within those years) beginning after December 15, 2013. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The Company prospectively adopted ASU 2013-11 on January 1, 2014, and the adoption did not have a material effect on its financial position or results of operations. | |||||||||||||||||||||||||
In March 2013, the FASB issued ASU No. 2013-05, Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (a consensus of the FASB Emerging Issues Task Force) (“ASU 2013-05”), which applies to the release of the cumulative translation adjustment into net income when a parent either sells all or a part of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. ASU 2013-05 is effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The Company adopted ASU 2013-05 on January 1, 2014, and the adoption did not have a material effect on its financial position or results of operations. | |||||||||||||||||||||||||
In February 2013, the FASB issued ASU No. 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date (“ASU 2013-04”). ASU 2013-04 requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the amount the reporting entity agreed to pay plus additional amounts the reporting entity expects to pay on behalf of its co-obligors. The guidance further provides for disclosure of the nature and amount of the obligation. ASU 2013-04 is effective for interim and annual reporting periods beginning after December 15, 2013. The Company adopted ASU 2013-04 on January 1, 2014, and the adoption did not have a material effect on its financial position or results of operations. | |||||||||||||||||||||||||
Accounting Standards to be Adopted in Future Periods | ' | ||||||||||||||||||||||||
Accounting Standards to be Adopted in Future Periods | |||||||||||||||||||||||||
In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), which requires management to evaluate, in connection with financial statement preparation for each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued, and to provide related disclosures. ASU 2014-15 applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The Company does not expect adoption of ASU 2014-15 to have a material effect on its financial position and results of operations. | |||||||||||||||||||||||||
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. ASU 2014-09 requires entities to recognize revenue in a way that depicts the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ASU 2014-09 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2016. Early adoption is not permitted. The Company is still assessing the potential impact of ASU 2014-09 on its financial position and results of operations. | |||||||||||||||||||||||||
Revision of Prior Period Financial Statements | ' | ||||||||||||||||||||||||
Revision of Prior Period Financial Statements | |||||||||||||||||||||||||
“Cash and cash equivalents” and “Accounts payable and accrued expenses” on the consolidated balance sheets as of September 30, 2013 and December 31, 2013 were revised to reclassify certain liabilities as in-transit cash disbursements due to the timing of payments for certain contracts. Management determined that the impact on all previously issued financial statements was immaterial. The correction resulted in the following increases (decreases) to amounts previously reported in the Company’s financial statements (dollars in thousands): | |||||||||||||||||||||||||
31-Dec-13 | 30-Sep-13 | 30-Jun-13 | 31-Mar-13 | 31-Dec-12 | 31-Dec-11 | ||||||||||||||||||||
Consolidated Balance Sheet | |||||||||||||||||||||||||
Cash and cash equivalents | $ | (2,010 | ) | $ | (3,737 | ) | $ | (7,446 | ) | $ | (8,008 | ) | $ | (1,760 | ) | $ | (3,749 | ) | |||||||
Accounts payable and accrued expenses | (2,010 | ) | (3,737 | ) | (7,446 | ) | (8,008 | ) | (1,760 | ) | (3,749 | ) | |||||||||||||
Consolidated Statements of Cash Flows | |||||||||||||||||||||||||
Net cash provided by operating activities | $ | (250 | ) | $ | (1,977 | ) | $ | (5,686 | ) | $ | (6,248 | ) | $ | 1,989 | $ | (2,215 | ) | ||||||||
Cash and cash equivalents at beginning of year | (1,760 | ) | (1,760 | ) | (1,760 | ) | (1,760 | ) | (3,749 | ) | (1,534 | ) | |||||||||||||
Cash and cash equivalents at end of period | (2,010 | ) | (3,737 | ) | (7,446 | ) | (8,008 | ) | (1,760 | ) | (3,749 | ) | |||||||||||||
As other prior period financial information is presented, the Company will similarly revise the consolidated balance sheets and statements of cash flows in its future filings. |
Significant_Accounting_Policie2
Significant Accounting Policies Significant Accounting Policies (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | ' | ||||||||||||||||||||||||
31-Dec-13 | 30-Sep-13 | 30-Jun-13 | 31-Mar-13 | 31-Dec-12 | 31-Dec-11 | ||||||||||||||||||||
Consolidated Balance Sheet | |||||||||||||||||||||||||
Cash and cash equivalents | $ | (2,010 | ) | $ | (3,737 | ) | $ | (7,446 | ) | $ | (8,008 | ) | $ | (1,760 | ) | $ | (3,749 | ) | |||||||
Accounts payable and accrued expenses | (2,010 | ) | (3,737 | ) | (7,446 | ) | (8,008 | ) | (1,760 | ) | (3,749 | ) | |||||||||||||
Consolidated Statements of Cash Flows | |||||||||||||||||||||||||
Net cash provided by operating activities | $ | (250 | ) | $ | (1,977 | ) | $ | (5,686 | ) | $ | (6,248 | ) | $ | 1,989 | $ | (2,215 | ) | ||||||||
Cash and cash equivalents at beginning of year | (1,760 | ) | (1,760 | ) | (1,760 | ) | (1,760 | ) | (3,749 | ) | (1,534 | ) | |||||||||||||
Cash and cash equivalents at end of period | (2,010 | ) | (3,737 | ) | (7,446 | ) | (8,008 | ) | (1,760 | ) | (3,749 | ) |
Consumer_Loans_Credit_Quality_1
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans [Abstract] | ' | |||||||||||||||
Schedule Of Consumer Loan Fee Revenue | ' | |||||||||||||||
Consumer loan fee revenue generated from consumer loans for the three and nine months ended September 30, 2014 and 2013 was as follows (dollars in thousands): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Interest and fees on short-term loans | $ | 83,361 | $ | 118,775 | $ | 264,483 | $ | 385,548 | ||||||||
Interest and fees on line of credit accounts | 80,909 | 50,504 | 228,840 | 102,021 | ||||||||||||
Interest and fees on installment loans | 65,165 | 58,284 | 195,633 | 152,630 | ||||||||||||
Total consumer loan revenue | $ | 229,435 | $ | 227,563 | $ | 688,956 | $ | 640,199 | ||||||||
Components Of Company-Owned Consumer Loans And Receivables | ' | |||||||||||||||
The components of Company-owned consumer loan portfolio receivables as of September 30, 2014 and 2013 and December 31, 2013 were as follows (dollars in thousands): | ||||||||||||||||
As of September 30, 2014 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Current loans | $ | 69,389 | $ | 118,329 | $ | 180,650 | $ | 368,368 | ||||||||
Delinquent loans: | ||||||||||||||||
Delinquent payment amounts(a) | — | 4,335 | 3,069 | 7,404 | ||||||||||||
Loans on non-accrual status | 24,412 | 5,611 | 17,699 | 47,722 | ||||||||||||
Total delinquent loans | 24,412 | 9,946 | 20,768 | 55,126 | ||||||||||||
Total consumer loans, gross | 93,801 | 128,275 | 201,418 | 423,494 | ||||||||||||
Less: allowance for losses | (21,065 | ) | (22,673 | ) | (31,531 | ) | (75,269 | ) | ||||||||
Consumer loans, net | $ | 72,736 | $ | 105,602 | $ | 169,887 | $ | 348,225 | ||||||||
As of September 30, 2013 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Current loans | $ | 103,320 | $ | 87,554 | $ | 155,100 | $ | 345,974 | ||||||||
Delinquent loans: | ||||||||||||||||
Delinquent payment amounts(a) | — | 2,242 | 2,968 | 5,210 | ||||||||||||
Loans on non-accrual status | 41,706 | 9,810 | 15,537 | 67,053 | ||||||||||||
Total delinquent loans | 41,706 | 12,052 | 18,505 | 72,263 | ||||||||||||
Total consumer loans, gross | 145,026 | 99,606 | 173,605 | 418,237 | ||||||||||||
Less: allowance for losses | (34,829 | ) | (21,934 | ) | (33,193 | ) | (89,956 | ) | ||||||||
Consumer loans, net | $ | 110,197 | $ | 77,672 | $ | 140,412 | $ | 328,281 | ||||||||
As of December 31, 2013 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Current loans | $ | 101,379 | $ | 111,822 | $ | 168,221 | $ | 381,422 | ||||||||
Delinquent loans: | ||||||||||||||||
Delinquent payment amounts(a) | — | 4,146 | 3,902 | 8,048 | ||||||||||||
Loans on non-accrual status | 29,857 | 9,834 | 17,546 | 57,237 | ||||||||||||
Total delinquent loans | 29,857 | 13,980 | 21,448 | 65,285 | ||||||||||||
Total consumer loans, gross | 131,236 | 125,802 | 189,669 | 446,707 | ||||||||||||
Less: allowance for losses | (24,425 | ) | (29,784 | ) | (33,657 | ) | (87,866 | ) | ||||||||
Consumer loans, net | $ | 106,811 | $ | 96,018 | $ | 156,012 | $ | 358,841 | ||||||||
Changes In Allowance For Losses | ' | |||||||||||||||
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 during the three and nine months ended September 30, 2014 and 2013 were as follows (dollars in thousands): | ||||||||||||||||
Three Months Ended September 30, 2014 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Allowance for losses for Company-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 21,679 | $ | 21,578 | $ | 28,930 | $ | 72,187 | ||||||||
Consumer loan loss provision | 25,709 | 25,913 | 30,555 | 82,177 | ||||||||||||
Charge-offs | (33,387 | ) | (29,842 | ) | (34,843 | ) | (98,072 | ) | ||||||||
Recoveries | 7,064 | 5,024 | 6,889 | 18,977 | ||||||||||||
Balance at end of period | $ | 21,065 | $ | 22,673 | $ | 31,531 | $ | 75,269 | ||||||||
Liability for third-party lender-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 2,021 | $ | — | $ | 1,155 | $ | 3,176 | ||||||||
Decrease in liability | (128 | ) | — | (516 | ) | (644 | ) | |||||||||
Balance at end of period | $ | 1,893 | $ | — | $ | 639 | $ | 2,532 | ||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Allowance for losses for Company-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 42,068 | $ | 10,649 | $ | 27,146 | $ | 79,863 | ||||||||
Consumer loan loss provision | 42,032 | 25,140 | 32,738 | 99,910 | ||||||||||||
Charge-offs | (58,862 | ) | (15,414 | ) | (30,762 | ) | (105,038 | ) | ||||||||
Recoveries | 9,591 | 1,559 | 4,071 | 15,221 | ||||||||||||
Balance at end of period | $ | 34,829 | $ | 21,934 | $ | 33,193 | $ | 89,956 | ||||||||
Liability for third-party lender-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 2,439 | $ | — | $ | 608 | $ | 3,047 | ||||||||
(Decrease) increase in liability | (226 | ) | — | 9 | (217 | ) | ||||||||||
Balance at end of period | $ | 2,213 | $ | — | $ | 617 | $ | 2,830 | ||||||||
Nine Months Ended September 30, 2014 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Allowance for losses for Company-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 24,425 | $ | 29,784 | $ | 33,657 | $ | 87,866 | ||||||||
Consumer loan loss provision | 73,392 | 71,074 | 85,804 | 230,270 | ||||||||||||
Charge-offs | (102,846 | ) | (90,984 | ) | (106,733 | ) | (300,563 | ) | ||||||||
Recoveries | 26,094 | 12,799 | 18,803 | 57,696 | ||||||||||||
Balance at end of period | $ | 21,065 | $ | 22,673 | $ | 31,531 | $ | 75,269 | ||||||||
Liability for third-party lender-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 2,322 | $ | — | $ | 758 | $ | 3,080 | ||||||||
Decrease in liability | (429 | ) | — | (119 | ) | (548 | ) | |||||||||
Balance at end of period | $ | 1,893 | $ | — | $ | 639 | $ | 2,532 | ||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||
Short-term | Line of | Installment | Total | |||||||||||||
Loans | Credit | Loans | ||||||||||||||
Accounts | ||||||||||||||||
Allowance for losses for Company-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 45,982 | $ | 11,107 | $ | 28,614 | $ | 85,703 | ||||||||
Consumer loan loss provision | 130,624 | 41,612 | 80,206 | 252,442 | ||||||||||||
Charge-offs | (172,504 | ) | (35,490 | ) | (86,237 | ) | (294,231 | ) | ||||||||
Recoveries | 30,727 | 4,705 | 10,610 | 46,042 | ||||||||||||
Balance at end of period | $ | 34,829 | $ | 21,934 | $ | 33,193 | $ | 89,956 | ||||||||
Liability for third-party lender-owned consumer loans: | ||||||||||||||||
Balance at beginning of period | $ | 2,934 | $ | — | $ | 564 | $ | 3,498 | ||||||||
(Decrease) increase in liability | (721 | ) | — | 53 | (668 | ) | ||||||||||
Balance at end of period | $ | 2,213 | $ | — | $ | 617 | $ | 2,830 | ||||||||
Merchandise_Held_For_Dispositi1
Merchandise Held For Disposition (Table) | 9 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||||||
Inventory Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Schedule of Inventory, Current | ' | |||||||||||||||||||||||||||||||||||
As of September 30, | As of December 31, | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2013 | ||||||||||||||||||||||||||||||||||
Total | Allowance | Net | Total | Allowance | Net | Total | Allowance | Net | ||||||||||||||||||||||||||||
Domestic | $ | 217,663 | $ | (2,400 | ) | $ | 215,263 | $ | 187,718 | $ | (840 | ) | $ | 186,878 | $ | 204,663 | $ | (840 | ) | $ | 203,823 | |||||||||||||||
Foreign | — | — | — | 6,345 | (108 | ) | 6,237 | 5,185 | (109 | ) | 5,076 | |||||||||||||||||||||||||
Total | $ | 217,663 | $ | (2,400 | ) | $ | 215,263 | $ | 194,063 | $ | (948 | ) | $ | 193,115 | $ | 209,848 | $ | (949 | ) | $ | 208,899 | |||||||||||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Long-term Debt, Unclassified [Abstract] | ' | |||||||||||
Schedule Of Long-Term Debt | ' | |||||||||||
The long-term debt instruments and balances outstanding as of September 30, 2014 and 2013 and December 31, 2013 for each of the Company and its wholly-owned subsidiary, Enova International, Inc. (“Enova”), were as follows (dollars in thousands): | ||||||||||||
Balance as of | ||||||||||||
September 30, | December 31, | |||||||||||
2014 | 2013 | 2013 | ||||||||||
Domestic and multi-currency line of credit due 2018 | $ | 9,552 | $ | 120,225 | $ | 193,717 | ||||||
6.09% Series A senior unsecured notes due 2016 | — | 28,000 | 21,000 | |||||||||
7.26% senior unsecured notes due 2017 | — | 20,000 | 20,000 | |||||||||
Variable rate senior unsecured notes due 2018 | — | 35,417 | 33,333 | |||||||||
5.75% senior unsecured notes due 2018 | 196,470 | 300,000 | 300,000 | |||||||||
6.00% Series A senior unsecured notes due 2019 | — | 47,000 | 47,000 | |||||||||
6.21% Series B senior unsecured notes due 2021 | — | 20,455 | 18,182 | |||||||||
6.58% Series B senior unsecured notes due 2022 | — | 5,000 | 5,000 | |||||||||
5.25% convertible senior notes due 2029 | — | 106,752 | 101,757 | |||||||||
Subtotal - Company debt | $ | 206,022 | $ | 682,849 | $ | 739,989 | ||||||
Enova line of credit due 2017 | — | — | — | |||||||||
Enova 9.75% senior unsecured notes due 2021 | 494,021 | — | — | |||||||||
Subtotal - Enova debt | $ | 494,021 | $ | — | $ | — | ||||||
Total debt | $ | 700,043 | $ | 682,849 | $ | 739,989 | ||||||
Less current portion | — | (22,606 | ) | (22,606 | ) | |||||||
Total long-term debt | $ | 700,043 | $ | 660,243 | $ | 717,383 | ||||||
Reclassification_of_OCI_Table
Reclassification of OCI (Table) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | |||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
30-Sep-14 | 30-Sep-14 | |||||||||||||||||||||||
Foreign | Marketable | Total | Foreign | Marketable | Total | |||||||||||||||||||
currency | securities, net | currency | securities, net | |||||||||||||||||||||
translation | of tax | translation | of tax | |||||||||||||||||||||
gain (loss), net | gain (loss), net | |||||||||||||||||||||||
of tax | of tax | |||||||||||||||||||||||
Balance at the beginning of period | $ | 7,998 | $ | — | $ | 7,998 | $ | 4,649 | $ | — | $ | 4,649 | ||||||||||||
Other comprehensive income before reclassifications | (5,973 | ) | — | (5,973 | ) | (2,624 | ) | — | (2,624 | ) | ||||||||||||||
Amounts reclassified from AOCI (a) | 48 | — | 48 | 48 | — | 48 | ||||||||||||||||||
Net change in AOCI | (5,925 | ) | — | (5,925 | ) | (2,576 | ) | — | (2,576 | ) | ||||||||||||||
Balance at the end of period | $ | 2,073 | $ | — | $ | 2,073 | $ | 2,073 | $ | — | $ | 2,073 | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
30-Sep-13 | 30-Sep-13 | |||||||||||||||||||||||
Foreign | Marketable | Total | Foreign | Marketable | Total | |||||||||||||||||||
currency | securities, net | currency | securities, net | |||||||||||||||||||||
translation | of tax | translation | of tax | |||||||||||||||||||||
gain (loss), | gain (loss), | |||||||||||||||||||||||
net of tax | net of tax | |||||||||||||||||||||||
Balance at the beginning of period | $ | (362 | ) | $ | — | $ | (362 | ) | $ | 2,874 | $ | 254 | $ | 3,128 | ||||||||||
Other comprehensive income before reclassifications | 2,976 | — | 2,976 | (260 | ) | 373 | 113 | |||||||||||||||||
Amounts reclassified from AOCI (b) | — | — | — | — | (627 | ) | (627 | ) | ||||||||||||||||
Net change in AOCI | 2,976 | — | 2,976 | (260 | ) | (254 | ) | (514 | ) | |||||||||||||||
Balance at the end of period | $ | 2,614 | $ | — | $ | 2,614 | $ | 2,614 | $ | — | $ | 2,614 | ||||||||||||
(a) | Includes a $74 reclassification of foreign currency loss into “Loss on divestiture” in connection with the divestiture of Mexico-based pawn operations for the three and nine months ended September 30, 2014. The tax impact of this reclassification was $26. | |||||||||||||||||||||||
(b) Includes a $964 impact of AOCI reclassifications into “Other revenue” for net gain on available-for-sale securities for the nine months | ||||||||||||||||||||||||
ended September 30, 2013. The tax impact of this reclassification was $337. |
Net_Income_Per_Share_Tables
Net Income Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Reconciliation Of Numerators And Denominators For Basic And Diluted Earnings Per Share | ' | |||||||||||||||
The following table sets forth the reconciliation of numerators and denominators of basic and diluted net income per share computations for the three and nine months ended September 30, 2014 and 2013 (dollars and shares in thousands, except per share amounts): | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Numerator: | ||||||||||||||||
Net income attributable to Cash America International, Inc. | $ | 9,916 | $ | 46,186 | $ | 76,624 | $ | 115,244 | ||||||||
Denominator: | ||||||||||||||||
Total weighted average basic shares(a) | 29,186 | 28,426 | 28,808 | 28,747 | ||||||||||||
Shares applicable to stock-based compensation(b) | 126 | 102 | 99 | 92 | ||||||||||||
Convertible debt(c) | — | 1,851 | 464 | 2,018 | ||||||||||||
Total weighted average diluted shares(d) | 29,312 | 30,379 | 29,371 | 30,857 | ||||||||||||
Net income – basic | $ | 0.34 | $ | 1.62 | $ | 2.66 | $ | 4.01 | ||||||||
Net income – diluted | $ | 0.34 | $ | 1.52 | $ | 2.61 | $ | 3.73 | ||||||||
(a) | Includes (i) vested and deferred restricted stock units of 299 and 301, as well as 32 and 31 shares held in the Company’s nonqualified savings plan for the three months ended September 30, 2014 and 2013, respectively, and (ii) vested and deferred restricted stock units of 306 and 308, as well as 32 and 31 shares held in the Company’s nonqualified savings plan for the nine months ended September 30, 2014 and 2013, respectively. | |||||||||||||||
(b) | Includes shares related to unvested restricted stock unit awards. | |||||||||||||||
(c) | On May 15, 2014, the Company called the notes and the noteholders elected to convert such notes. The Company settled the principal portion of the outstanding 2029 Convertible Notes in cash and issued 747,085 of the Company’s common shares related to the conversion spread. Prior to the repayment of the 2029 Convertible Notes, only the shares related to the conversion spread were included in weighted average diluted shares, because the Company intended to pay the principal portion of the notes in cash. See Note 7 for further discussion of the 2029 Convertible Notes. | |||||||||||||||
(d) | There were no anti-dilutive shares for the three months ended September 30, 2014 and 5 anti-dilutive shares for the nine months ended September 30, 2014, respectively, and no anti-dilutive shares for the three months ended September 30, 2013 and 25 anti-dilutive shares for the nine months ended September 30, 2013, respectively. |
Operating_Segment_Information_
Operating Segment Information (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Current Classification Of Administrative And Operating Expenses | ' | |||||||||||||||||||||||||||||||||||
The following tables contain operating segment data for the three and nine months ended September 30, 2014 and 2013 by segment, for the Company’s corporate operations and on a consolidated basis (dollars in thousands): | ||||||||||||||||||||||||||||||||||||
Retail Services | E-Commerce | |||||||||||||||||||||||||||||||||||
Domestic | Foreign | Total | Domestic | Foreign | Admin | Total | Corporate | Consolidated | ||||||||||||||||||||||||||||
Three Months Ended September 30, 2014 | ||||||||||||||||||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||||||||||||
Pawn loan fees and service charges | $ | 84,081 | $ | 1,232 | $ | 85,313 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 85,313 | ||||||||||||||||||
Proceeds from disposition of merchandise | 151,399 | 3,688 | 155,087 | — | — | — | — | — | 155,087 | |||||||||||||||||||||||||||
Consumer loan fees | 24,831 | — | 24,831 | 126,123 | 78,481 | — | 204,604 | — | 229,435 | |||||||||||||||||||||||||||
Other | 1,564 | 38 | 1,602 | 7 | 557 | — | 564 | 177 | 2,343 | |||||||||||||||||||||||||||
Total revenue | 261,875 | 4,958 | 266,833 | 126,130 | 79,038 | — | 205,168 | 177 | 472,178 | |||||||||||||||||||||||||||
Cost of revenue | ||||||||||||||||||||||||||||||||||||
Disposed merchandise | 111,216 | 3,077 | 114,293 | — | — | — | — | — | 114,293 | |||||||||||||||||||||||||||
Consumer loan loss provision | 8,614 | — | 8,614 | 55,058 | 17,861 | — | 72,919 | — | 81,533 | |||||||||||||||||||||||||||
Total cost of revenue | 119,830 | 3,077 | 122,907 | 55,058 | 17,861 | — | 72,919 | — | 195,826 | |||||||||||||||||||||||||||
Net revenue | 142,045 | 1,881 | 143,926 | 71,072 | 61,177 | — | 132,249 | 177 | 276,352 | |||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||
Operations and administration | 100,128 | 1,740 | 101,868 | 32,201 | 23,238 | 25,857 | 81,296 | 22,567 | 205,731 | |||||||||||||||||||||||||||
Loss on divestitures | 273 | 4,903 | 5,176 | — | — | — | — | — | 5,176 | |||||||||||||||||||||||||||
Depreciation and amortization | 9,931 | 280 | 10,211 | 2,618 | 601 | 2,119 | 5,338 | 4,895 | 20,444 | |||||||||||||||||||||||||||
Total expenses | 110,332 | 6,923 | 117,255 | 34,819 | 23,839 | 27,976 | 86,634 | 27,462 | 231,351 | |||||||||||||||||||||||||||
Income (loss) from operations | $ | 31,713 | $ | (5,042 | ) | $ | 26,671 | $ | 36,253 | $ | 37,338 | $ | (27,976 | ) | $ | 45,615 | $ | (27,285 | ) | $ | 45,001 | |||||||||||||||
As of September 30, 2014 | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 1,385,469 | $ | 714,876 | $ | 2,100,345 | ||||||||||||||||||||||||||||||
Goodwill | $ | 488,700 | $ | 210,361 | $ | 699,061 | ||||||||||||||||||||||||||||||
Retail Services | E-Commerce | |||||||||||||||||||||||||||||||||||
Domestic | Foreign | Total | Domestic | Foreign | Admin | Total | Corporate | Consolidated | ||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||||||||||||
Pawn loan fees and service charges | $ | 77,532 | $ | 1,766 | $ | 79,298 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 79,298 | ||||||||||||||||||
Proceeds from disposition of merchandise | 124,352 | 4,308 | 128,660 | — | — | — | — | — | 128,660 | |||||||||||||||||||||||||||
Consumer loan fees | 29,504 | — | 29,504 | 104,954 | 93,105 | — | 198,059 | — | 227,563 | |||||||||||||||||||||||||||
Other | 1,731 | 66 | 1,797 | 249 | 69 | — | 318 | 165 | 2,280 | |||||||||||||||||||||||||||
Total revenue | 233,119 | 6,140 | 239,259 | 105,203 | 93,174 | — | 198,377 | 165 | 437,801 | |||||||||||||||||||||||||||
Cost of revenue | ||||||||||||||||||||||||||||||||||||
Disposed merchandise | 87,530 | 3,571 | 91,101 | — | — | — | — | — | 91,101 | |||||||||||||||||||||||||||
Consumer loan loss provision | 10,037 | — | 10,037 | 49,225 | 40,431 | — | 89,656 | — | 99,693 | |||||||||||||||||||||||||||
Total cost of revenue | 97,567 | 3,571 | 101,138 | 49,225 | 40,431 | — | 89,656 | — | 190,794 | |||||||||||||||||||||||||||
Net revenue | 135,552 | 2,569 | 138,121 | 55,978 | 52,743 | — | 108,721 | 165 | 247,007 | |||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||
Operations and administration | 111,220 | 2,831 | 114,051 | 30,445 | 25,245 | 15,556 | 71,246 | 14,408 | 199,705 | |||||||||||||||||||||||||||
Depreciation and amortization | 9,878 | 764 | 10,642 | 1,906 | 706 | 1,346 | 3,958 | 4,183 | 18,783 | |||||||||||||||||||||||||||
Total expenses | 121,098 | 3,595 | 124,693 | 32,351 | 25,951 | 16,902 | 75,204 | 18,591 | 218,488 | |||||||||||||||||||||||||||
Income (loss) from operations | $ | 14,454 | $ | (1,026 | ) | $ | 13,428 | $ | 23,627 | $ | 26,792 | $ | (16,902 | ) | $ | 33,517 | $ | (18,426 | ) | $ | 28,519 | |||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 1,354,074 | $ | 633,518 | $ | 1,987,592 | ||||||||||||||||||||||||||||||
Goodwill | $ | 459,669 | $ | 210,368 | $ | 670,037 | ||||||||||||||||||||||||||||||
Retail Services | E-Commerce | |||||||||||||||||||||||||||||||||||
Domestic | Foreign | Total | Domestic | Foreign | Admin | Total | Corporate | Consolidated | ||||||||||||||||||||||||||||
Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||||||||||||
Pawn loan fees and service charges | $ | 241,459 | $ | 5,031 | $ | 246,490 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 246,490 | ||||||||||||||||||
Proceeds from disposition of merchandise | 466,016 | 12,298 | 478,314 | — | — | — | — | — | 478,314 | |||||||||||||||||||||||||||
Consumer loan fees | 74,490 | — | 74,490 | 343,922 | 270,544 | — | 614,466 | — | 688,956 | |||||||||||||||||||||||||||
Other | 5,284 | 168 | 5,452 | 81 | 568 | — | 649 | 507 | 6,608 | |||||||||||||||||||||||||||
Total revenue | 787,249 | 17,497 | 804,746 | 344,003 | 271,112 | — | 615,115 | 507 | 1,420,368 | |||||||||||||||||||||||||||
Cost of revenue | ||||||||||||||||||||||||||||||||||||
Disposed merchandise | 333,651 | 9,716 | 343,367 | — | — | — | — | — | 343,367 | |||||||||||||||||||||||||||
Consumer loan loss provision | 24,061 | — | 24,061 | 122,422 | 83,239 | — | 205,661 | — | 229,722 | |||||||||||||||||||||||||||
Total cost of revenue | 357,712 | 9,716 | 367,428 | 122,422 | 83,239 | — | 205,661 | — | 573,089 | |||||||||||||||||||||||||||
Net revenue | 429,537 | 7,781 | 437,318 | 221,581 | 187,873 | — | 409,454 | 507 | 847,279 | |||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||
Operations and administration | 301,470 | 8,375 | 309,845 | 81,425 | 72,419 | 67,883 | 221,727 | 60,720 | 592,292 | |||||||||||||||||||||||||||
Loss on divestitures | 273 | 4,903 | 5,176 | — | — | — | — | — | 5,176 | |||||||||||||||||||||||||||
Depreciation and amortization | 30,357 | 1,104 | 31,461 | 6,577 | 1,683 | 5,512 | 13,772 | 13,969 | 59,202 | |||||||||||||||||||||||||||
Total expenses | 332,100 | 14,382 | 346,482 | 88,002 | 74,102 | 73,395 | 235,499 | 74,689 | 656,670 | |||||||||||||||||||||||||||
Income (loss) from operations | $ | 97,437 | $ | (6,601 | ) | $ | 90,836 | $ | 133,579 | $ | 113,771 | $ | (73,395 | ) | $ | 173,955 | $ | (74,182 | ) | $ | 190,609 | |||||||||||||||
Retail Services | E-Commerce | |||||||||||||||||||||||||||||||||||
Domestic | Foreign | Total | Domestic | Foreign | Admin | Total | Corporate | Consolidated | ||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||||||||||||
Pawn loan fees and service charges | $ | 222,508 | $ | 5,432 | $ | 227,940 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 227,940 | ||||||||||||||||||
Proceeds from disposition of merchandise | 425,716 | 13,193 | 438,909 | — | — | — | — | — | 438,909 | |||||||||||||||||||||||||||
Consumer loan fees | 84,473 | — | 84,473 | 283,097 | 272,629 | — | 555,726 | — | 640,199 | |||||||||||||||||||||||||||
Other | 6,149 | 417 | 6,566 | 1,051 | 92 | — | 1,143 | 1,552 | 9,261 | |||||||||||||||||||||||||||
Total revenue | 738,846 | 19,042 | 757,888 | 284,148 | 272,721 | — | 556,869 | 1,552 | 1,316,309 | |||||||||||||||||||||||||||
Cost of revenue | ||||||||||||||||||||||||||||||||||||
Disposed merchandise | 290,569 | 10,828 | 301,397 | — | — | — | — | — | 301,397 | |||||||||||||||||||||||||||
Consumer loan loss provision | 23,927 | — | 23,927 | 112,391 | 115,456 | — | 227,847 | — | 251,774 | |||||||||||||||||||||||||||
Total cost of revenue | 314,496 | 10,828 | 325,324 | 112,391 | 115,456 | — | 227,847 | — | 553,171 | |||||||||||||||||||||||||||
Net revenue | 424,350 | 8,214 | 432,564 | 171,757 | 157,265 | — | 329,022 | 1,552 | 763,138 | |||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||
Operations and administration | 291,409 | 9,432 | 300,841 | 73,688 | 76,176 | 52,071 | 201,935 | 50,695 | 553,471 | |||||||||||||||||||||||||||
Depreciation and amortization | 27,579 | 1,593 | 29,172 | 6,866 | 2,101 | 4,019 | 12,986 | 12,156 | 54,314 | |||||||||||||||||||||||||||
Total expenses | 318,988 | 11,025 | 330,013 | 80,554 | 78,277 | 56,090 | 214,921 | 62,851 | 607,785 | |||||||||||||||||||||||||||
Income (loss) from operations | $ | 105,362 | $ | (2,811 | ) | $ | 102,551 | $ | 91,203 | $ | 78,988 | $ | (56,090 | ) | $ | 114,101 | $ | (61,299 | ) | $ | 155,353 | |||||||||||||||
Commitments_And_Contingencies_
Commitments And Contingencies Lease (Tables) | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | |||||||||||||||||||||||||||
uture minimum rentals due under Enova’s non-cancelable leases are as follows (dollars in thousands): | ||||||||||||||||||||||||||||
(in thousands) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||
Lease obligations of Enova | $ | 825 | $ | 3,351 | $ | 3,324 | $ | 5,864 | $ | 5,023 | $ | 47,883 | $ | 66,270 | ||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||
Fair Value Assets (Liabilities) Measured On Recurring Basis | ' | ||||||||||||||||||
The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2014 and 2013 and December 31, 2013 are as follows (dollars in thousands): | |||||||||||||||||||
September 30, | Fair Value Measurements Using | ||||||||||||||||||
2014 | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets (liabilities): | |||||||||||||||||||
Forward currency exchange contracts | $ | 29 | $ | — | $ | 29 | $ | — | |||||||||||
Nonqualified savings plans’ assets(a) | 13,480 | 13,480 | — | — | |||||||||||||||
Total | $ | 13,509 | $ | 13,480 | $ | 29 | $ | — | |||||||||||
September 30, | Fair Value Measurements Using | ||||||||||||||||||
2013 | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets (liabilities): | |||||||||||||||||||
Forward currency exchange contracts | $ | (790 | ) | $ | — | $ | (790 | ) | $ | — | |||||||||
Nonqualified savings plans’ assets(a) | 13,455 | 13,455 | — | — | |||||||||||||||
Total | $ | 12,665 | $ | 13,455 | $ | (790 | ) | $ | — | ||||||||||
December 31, | Fair Value Measurements Using | ||||||||||||||||||
2013 | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||
Forward currency exchange contracts | $ | 6 | $ | — | $ | 6 | $ | — | |||||||||||
Nonqualified savings plans’ assets(a) | 14,576 | 14,576 | — | — | |||||||||||||||
Total | $ | 14,582 | $ | 14,576 | $ | 6 | $ | — | |||||||||||
(a) The nonqualified savings plan assets have an offsetting liability of an approximately equal amount, which is included in “Accounts payable and accrued expenses” in the Company’s consolidated balance sheets. | |||||||||||||||||||
Financial Liabilities Not Measured At Fair Value But For Which Fair Value Is Required To Be Disclosed | ' | ||||||||||||||||||
The Company’s financial assets and liabilities as of September 30, 2014 and 2013 and December 31, 2013 that are not measured at fair value in the consolidated balance sheets are as follows (dollars in thousands): | |||||||||||||||||||
Carrying Value | Estimated Fair Value | ||||||||||||||||||
September 30, | September 30, | Fair Value Measurement Using | |||||||||||||||||
2014 | 2014 | Level 1 | Level 2 | Level 3 | |||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and cash equivalents | $ | 123,532 | $ | 123,532 | $ | 123,532 | $ | — | $ | — | |||||||||
Restricted cash | 60 | 60 | 60 | — | — | ||||||||||||||
Pawn loans | 264,612 | 264,612 | — | — | 264,612 | ||||||||||||||
Short-term loans and line of credit accounts, net | 178,338 | 178,338 | — | — | 178,338 | ||||||||||||||
Installment loans, net | 169,887 | 169,887 | — | — | 169,887 | ||||||||||||||
Pawn loan fees and service charges receivable | 54,501 | 54,501 | — | — | 54,501 | ||||||||||||||
Total | $ | 790,930 | $ | 790,930 | $ | 123,592 | $ | — | $ | 667,338 | |||||||||
Financial liabilities: | |||||||||||||||||||
Liability for estimated losses on consumer loans guaranteed by the Company | $ | 2,532 | $ | 2,532 | $ | — | $ | — | $ | 2,532 | |||||||||
Domestic and Multi-currency Line of credit | 9,552 | 10,035 | — | 10,035 | — | ||||||||||||||
Senior unsecured notes | 690,491 | 703,838 | 203,838 | (a) | 500,000 | — | |||||||||||||
Total | $ | 702,575 | $ | 716,405 | $ | 203,838 | $ | 510,035 | $ | 2,532 | |||||||||
(a) The 2018 Senior Notes were transferred from Level 2 to Level 1 in the first quarter of 2014 in conjunction with the Company’s registration of these notes with the SEC in January 2014. See Note 7 for further discussion of the 2018 Senior Notes. | |||||||||||||||||||
Carrying Value | Estimated Fair Value | ||||||||||||||||||
September 30, | September 30, | Fair Value Measurement Using | |||||||||||||||||
2013 | 2013 | Level 1 | Level 2 | Level 3 | |||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and cash equivalents | $ | 80,359 | $ | 80,359 | $ | 80,359 | $ | — | $ | — | |||||||||
Pawn loans | 253,678 | 253,678 | — | — | 253,678 | ||||||||||||||
Short-term loans and line of credit accounts, net | 187,869 | 187,869 | — | — | 187,869 | ||||||||||||||
Installment loans, net | 140,412 | 140,412 | — | — | 140,412 | ||||||||||||||
Pawn loan fees and service charges receivable | 50,090 | 50,090 | — | — | 50,090 | ||||||||||||||
Total | $ | 712,408 | $ | 712,408 | $ | 80,359 | $ | — | $ | 632,049 | |||||||||
Financial liabilities: | |||||||||||||||||||
Liability for estimated losses on consumer loans guaranteed by the Company | $ | 2,830 | $ | 2,830 | $ | — | $ | — | $ | 2,830 | |||||||||
Domestic and Multi-currency Line of credit | 120,225 | 126,260 | — | 126,260 | $ | — | |||||||||||||
Senior unsecured notes | 455,872 | 445,888 | — | 445,888 | — | ||||||||||||||
2029 Convertible Notes | 106,752 | 195,612 | — | 195,612 | — | ||||||||||||||
Total | $ | 685,679 | $ | 770,590 | $ | — | $ | 767,760 | $ | 2,830 | |||||||||
Carrying Value | Estimated Fair Value | ||||||||||||||||||
December 31, | December 31, | Fair Value Measurement Using | |||||||||||||||||
2013 | 2013 | Level 1 | Level 2 | Level 3 | |||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and cash equivalents | $ | 67,228 | $ | 67,228 | $ | 67,228 | $ | — | $ | — | |||||||||
Restricted cash | 8,000 | 8,000 | 8,000 | — | — | ||||||||||||||
Pawn loans | 261,148 | 261,148 | — | — | 261,148 | ||||||||||||||
Short-term loans and line of credit accounts, net | 202,829 | 202,829 | — | — | 202,829 | ||||||||||||||
Installment loans, net | 156,012 | 156,012 | — | — | 156,012 | ||||||||||||||
Pawn loan fees and service charges receivable | 53,438 | 53,438 | — | — | 53,438 | ||||||||||||||
Total | $ | 748,655 | $ | 748,655 | $ | 75,228 | $ | — | $ | 673,427 | |||||||||
Financial liabilities: | |||||||||||||||||||
Liability for estimated losses on consumer loans guaranteed by the Company | $ | 3,080 | $ | 3,080 | $ | — | $ | — | $ | 3,080 | |||||||||
Domestic and Multi-currency Line of credit | 193,717 | 207,426 | — | 207,426 | $ | — | |||||||||||||
Senior unsecured notes | 444,515 | 430,554 | — | 430,554 | — | ||||||||||||||
2029 Convertible Notes | 101,757 | 155,788 | — | 155,788 | — | ||||||||||||||
Total | $ | 743,069 | $ | 796,848 | $ | — | $ | 793,768 | $ | 3,080 | |||||||||
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | ' | |||||||||||||||||||||||
Schedule of Derivative Assets at Fair Value [Table Text Block] | ' | |||||||||||||||||||||||
Non-designated derivatives: | As of September 30, 2014 | |||||||||||||||||||||||
Forward currency exchange contracts | Notional | Gross Amounts | Gross Amounts | Net Amounts | ||||||||||||||||||||
Amount | of Recognized Financial Instruments | Offset in the | Presented in the | |||||||||||||||||||||
Consolidated | Consolidated Balance | |||||||||||||||||||||||
Balance Sheets(a) | Sheets(b) | |||||||||||||||||||||||
Assets | $ | 8,312 | $ | 29 | $ | — | $ | 29 | ||||||||||||||||
Liabilities | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Non-designated derivatives: | As of September 30, 2013 | |||||||||||||||||||||||
Forward currency exchange contracts | Notional | Gross Amounts | Gross Amounts | Net Amounts | ||||||||||||||||||||
Amount | of Recognized Financial Instruments | Offset in the | Presented in the | |||||||||||||||||||||
Consolidated | Consolidated Balance | |||||||||||||||||||||||
Balance Sheets(a) | Sheets(b) | |||||||||||||||||||||||
Assets | $ | 4,480 | $ | 9 | $ | (9 | ) | $ | — | |||||||||||||||
Liabilities | $ | 92,810 | $ | 799 | $ | (9 | ) | $ | 790 | |||||||||||||||
Non-designated derivatives: | As of December 31, 2013 | |||||||||||||||||||||||
Forward currency exchange contracts | Notional | Gross Amounts | Gross Amounts | Net Amounts | ||||||||||||||||||||
Amount | of Recognized Financial Instruments | Offset in the | Presented in the | |||||||||||||||||||||
Consolidated | Consolidated Balance | |||||||||||||||||||||||
Balance Sheets(a) | Sheets(b) | |||||||||||||||||||||||
Assets | $ | 76,760 | $ | 27 | $ | (11 | ) | $ | 16 | |||||||||||||||
Liabilities | $ | 4,786 | $ | 21 | $ | (11 | ) | $ | 10 | |||||||||||||||
(a) As of September 30, 2014, the Company had no gross amounts of recognized derivative instruments that the Company makes an accounting policy election not to offset. In addition, there is no financial collateral related to the Company’s derivatives. | ||||||||||||||||||||||||
(b) Represents the fair value of forward currency exchange contracts, which is recorded in “Prepaid expenses and other assets” in the | ||||||||||||||||||||||||
consolidated balance sheets. | ||||||||||||||||||||||||
Effect Of Derivative Instruments | ' | |||||||||||||||||||||||
Gains (Losses) Recognized | Gains Recognized in AOCI | Gains (Losses) Reclassified | ||||||||||||||||||||||
in Income | From AOCI into Income | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | Three Months Ended | ||||||||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Non-designated derivatives: | ||||||||||||||||||||||||
Forward currency exchange contracts(a) | $ | 401 | $ | (5,432 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||
Total | $ | 401 | $ | (5,432 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||
Gains (Losses) Recognized | Gains Recognized in AOCI | Gains (Losses) Reclassified | ||||||||||||||||||||||
in Income | From AOCI into Income | |||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||
September 30, | September 30, | September 30, | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Non-designated derivatives: | ||||||||||||||||||||||||
Forward currency exchange contracts(a) | $ | (1,354 | ) | $ | (181 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||
Total | $ | (1,354 | ) | $ | (181 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||
(a) The gains/(losses) on these derivatives substantially offset the (losses)/gains on the hedged portion of foreign intercompany balances. |
Significant_Accounting_Policie3
Significant Accounting Policies (Details) (USD $) | 9 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restatement Adjustment | Restatement Adjustment | Restatement Adjustment | Restatement Adjustment | Restatement Adjustment | Restatement Adjustment | |||
Cash and cash equivalents | $123,532 | $80,359 | ($8,008) | ($7,446) | ($3,737) | ($2,010) | ($1,760) | ($3,749) |
Accounts Payable and Accrued Expenses | ' | ' | -8,008 | -7,446 | -3,737 | -2,010 | -1,760 | -3,749 |
Net Cash Provided by (Used in) Operating Activities | 432,799 | 431,319 | -6,248 | -5,686 | -1,977 | -250 | 1,989 | -2,215 |
Cash and cash equivalents at beginning of year | 67,228 | 61,374 | -1,760 | -1,760 | -1,760 | -1,760 | -3,749 | -1,534 |
Cash and cash equivalents at end of period | $123,532 | $80,359 | ($8,008) | ($7,446) | ($3,737) | ($2,010) | ($1,760) | ($3,749) |
Acquisitions_and_Divestitures_1
Acquisitions and Divestitures Acquisitions and Divestitures (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Aug. 26, 2014 | Aug. 25, 2014 | Aug. 28, 2014 | Aug. 26, 2014 | Aug. 27, 2014 |
Mexico [Member] | Mexico [Member] | Colorado [Member] | Colorado [Member] | Colorado [Member] | ||||
store | store | |||||||
Date Of Divestiture | ' | ' | ' | 25-Aug-14 | ' | ' | 27-Aug-14 | ' |
Cash Received From Divestiture | ' | ' | ' | $18,500,000 | ' | $3,000,000 | ' | ' |
Goodwill | 699,061,000 | 705,579,000 | 670,037,000 | ' | 6,400,000 | ' | ' | ' |
Loss on Accounts Receivable | ' | ' | ' | 2,100,000 | ' | ' | ' | ' |
Loss on Divestiture | ' | ' | ' | $2,800,000 | ' | $300,000 | ' | ' |
Number of Stores | ' | ' | ' | ' | 47 | ' | ' | 5 |
Credit_Quality_Information_On_1
Credit Quality Information On Pawn Loans (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | |||
Credit Quality Information On Pawn Loans [Abstract] | ' | ' | ' |
Performing pawn loans outstanding | $256.40 | $251.90 | $245.50 |
Nonperforming pawn loans outstanding | $8.20 | $9.20 | $8.20 |
Consumer_Loans_Credit_Quality_2
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans (Narrative) (Details) (USD $) | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Days for delinquent loans to be charged off | '60 days | ' | ' |
Active consumer loans owned by third-party lenders | $47.30 | $59 | $50.10 |
Accrual for losses on consumer loan guaranty obligations | $2.50 | $3.10 | $2.80 |
Minimum | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Delinquent loans expiry period (in days) | '1 day | ' | ' |
Maximum | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Delinquent loans expiry period (in days) | '59 days | ' | ' |
Short Term Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Guaranteed Loans Term Available | '90 days | ' | ' |
Consumer_Loans_Credit_Quality_3
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans (Schedule Of Consumer Loan Fee Revenue) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Losses On Consumer Loans [Line Items] | ' | ' | ' | ' |
Consumer loan revenue | $229,435 | $227,563 | $688,956 | $640,199 |
Short-Term Loans [Member] | ' | ' | ' | ' |
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Losses On Consumer Loans [Line Items] | ' | ' | ' | ' |
Consumer loan revenue | 83,361 | 118,775 | 264,483 | 385,548 |
L O C [Member] | ' | ' | ' | ' |
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Losses On Consumer Loans [Line Items] | ' | ' | ' | ' |
Consumer loan revenue | 80,909 | 50,504 | 228,840 | 102,021 |
Installment Loans [Member] | ' | ' | ' | ' |
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Losses On Consumer Loans [Line Items] | ' | ' | ' | ' |
Consumer loan revenue | $65,165 | $58,284 | $195,633 | $152,630 |
Consumer_Loans_Credit_Quality_4
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans (Components Of Company-Owned Consumer Loans And Receivables) (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||||
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Losses On Consumer Loans [Line Items] | ' | ' | ' | ' | ' | ' |
Current loans | $368,368 | ' | $381,422 | $345,974 | ' | ' |
Delinquent payment amounts | 7,404 | ' | 8,048 | 5,210 | ' | ' |
Loans on non-accrual status | 47,722 | ' | 57,237 | 67,053 | ' | ' |
Total delinquent loans | 55,126 | ' | 65,285 | 72,263 | ' | ' |
Total consumer loans, gross | 423,494 | ' | 446,707 | 418,237 | ' | ' |
Less: allowance for losses | -75,269 | -72,187 | -87,866 | -89,956 | -79,863 | -85,703 |
Consumer loans, net | 348,225 | ' | 358,841 | 328,281 | ' | ' |
Short-Term Loans [Member] | ' | ' | ' | ' | ' | ' |
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Losses On Consumer Loans [Line Items] | ' | ' | ' | ' | ' | ' |
Current loans | 69,389 | ' | 101,379 | 103,320 | ' | ' |
Delinquent payment amounts | 0 | ' | 0 | 0 | ' | ' |
Loans on non-accrual status | 24,412 | ' | 29,857 | 41,706 | ' | ' |
Total delinquent loans | 24,412 | ' | 29,857 | 41,706 | ' | ' |
Total consumer loans, gross | 93,801 | ' | 131,236 | 145,026 | ' | ' |
Less: allowance for losses | -21,065 | -21,679 | -24,425 | -34,829 | -42,068 | -45,982 |
Consumer loans, net | 72,736 | ' | 106,811 | 110,197 | ' | ' |
L O C [Member] | ' | ' | ' | ' | ' | ' |
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Losses On Consumer Loans [Line Items] | ' | ' | ' | ' | ' | ' |
Current loans | 118,329 | ' | 111,822 | 87,554 | ' | ' |
Delinquent payment amounts | 4,335 | ' | 4,146 | 2,242 | ' | ' |
Loans on non-accrual status | 5,611 | ' | 9,834 | 9,810 | ' | ' |
Total delinquent loans | 9,946 | ' | 13,980 | 12,052 | ' | ' |
Total consumer loans, gross | 128,275 | ' | 125,802 | 99,606 | ' | ' |
Less: allowance for losses | -22,673 | -21,578 | -29,784 | -21,934 | -10,649 | -11,107 |
Consumer loans, net | 105,602 | ' | 96,018 | 77,672 | ' | ' |
Installment Loans [Member] | ' | ' | ' | ' | ' | ' |
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Losses On Consumer Loans [Line Items] | ' | ' | ' | ' | ' | ' |
Current loans | 180,650 | ' | 168,221 | 155,100 | ' | ' |
Delinquent payment amounts | 3,069 | ' | 3,902 | 2,968 | ' | ' |
Loans on non-accrual status | 17,699 | ' | 17,546 | 15,537 | ' | ' |
Total delinquent loans | 20,768 | ' | 21,448 | 18,505 | ' | ' |
Total consumer loans, gross | 201,418 | ' | 189,669 | 173,605 | ' | ' |
Less: allowance for losses | -31,531 | -28,930 | -33,657 | -33,193 | -27,146 | -28,614 |
Consumer loans, net | $169,887 | ' | $156,012 | $140,412 | ' | ' |
Consumer_Loans_Credit_Quality_5
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans (Changes In Allowance For Losses) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Consumer Loans, Credit Quality Information And Allowances And Liabilities For Losses On Consumer Loans [Line Items] | ' | ' | ' | ' |
Liability For Third Party Lender Owned Consumer Loans Fair value | $2,532 | $2,830 | $2,532 | $2,830 |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | 72,187 | 79,863 | 87,866 | 85,703 |
Consumer loan loss provision | 82,177 | 99,910 | 230,270 | 252,442 |
Charge-offs | -98,072 | -105,038 | -300,563 | -294,231 |
Recoveries | 18,977 | 15,221 | 57,696 | 46,042 |
Balance at end of period | 75,269 | 89,956 | 75,269 | 89,956 |
Liability for Third-Party Lender-Owned Consumer Loans [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | 3,176 | 3,047 | 3,080 | 3,498 |
(Decrease) increase in liability | -644 | -217 | 548 | 668 |
Balance at end of period | 2,532 | 2,830 | 2,532 | 2,830 |
Short-Term Loans [Member] | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | 21,679 | 42,068 | 24,425 | 45,982 |
Consumer loan loss provision | 25,709 | 42,032 | 73,392 | 130,624 |
Charge-offs | -33,387 | -58,862 | -102,846 | -172,504 |
Recoveries | 7,064 | 9,591 | 26,094 | 30,727 |
Balance at end of period | 21,065 | 34,829 | 21,065 | 34,829 |
Liability for Third-Party Lender-Owned Consumer Loans [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | 2,021 | 2,439 | 2,322 | 2,934 |
(Decrease) increase in liability | -128 | -226 | 429 | 721 |
Balance at end of period | 1,893 | 2,213 | 1,893 | 2,213 |
L O C [Member] | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | 21,578 | 10,649 | 29,784 | 11,107 |
Consumer loan loss provision | 25,913 | 25,140 | 71,074 | 41,612 |
Charge-offs | -29,842 | -15,414 | -90,984 | -35,490 |
Recoveries | 5,024 | 1,559 | 12,799 | 4,705 |
Balance at end of period | 22,673 | 21,934 | 22,673 | 21,934 |
Liability for Third-Party Lender-Owned Consumer Loans [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | 0 | 0 | 0 | 0 |
(Decrease) increase in liability | 0 | 0 | 0 | 0 |
Balance at end of period | 0 | 0 | 0 | 0 |
Installment Loans [Member] | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | 28,930 | 27,146 | 33,657 | 28,614 |
Consumer loan loss provision | 30,555 | 32,738 | 85,804 | 80,206 |
Charge-offs | -34,843 | -30,762 | -106,733 | -86,237 |
Recoveries | 6,889 | 4,071 | 18,803 | 10,610 |
Balance at end of period | 31,531 | 33,193 | 31,531 | 33,193 |
Liability for Third-Party Lender-Owned Consumer Loans [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | 1,155 | 608 | 758 | 564 |
(Decrease) increase in liability | -516 | 9 | 119 | -53 |
Balance at end of period | $639 | $617 | $639 | $617 |
Merchandise_Held_For_Dispositi2
Merchandise Held For Disposition (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Merchandise Held For Disposition [Line Items] | ' | ' | ' |
Merchandise held for disposition, gross | $217,663 | $209,848 | $194,063 |
Allowance | -2,400 | -949 | -948 |
Merchandise held for disposition, Net, Total | 215,263 | 208,899 | 193,115 |
Domestic | ' | ' | ' |
Merchandise Held For Disposition [Line Items] | ' | ' | ' |
Merchandise held for disposition, gross | 217,663 | 204,663 | 187,718 |
Allowance | -2,400 | -840 | -840 |
Merchandise held for disposition, Net, Total | 215,263 | 203,823 | 186,878 |
Foreign | ' | ' | ' |
Merchandise Held For Disposition [Line Items] | ' | ' | ' |
Merchandise held for disposition, gross | 0 | 5,185 | 6,345 |
Allowance | 0 | -109 | -108 |
Merchandise held for disposition, Net, Total | $0 | $5,076 | $6,237 |
Investments_In_Unconsolidated_1
Investments In Unconsolidated Subsidiaries (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | |||
Investments In Unconsolidated Subsidiaries [Abstract] | ' | ' | ' |
Cost method investments | $8.80 | $8.30 | $7.80 |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | 10-May-13 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | 10-May-13 | 15-May-14 | Sep. 30, 2014 | 14-May-14 | 14-May-14 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | 10-May-13 | 20-May-14 | Mar. 31, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | 15-May-13 | Sep. 30, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2014 | 14-May-14 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | 10-May-13 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | 15-May-14 | Sep. 30, 2014 | 10-May-13 | 15-May-14 | 10-May-13 | 15-May-14 | 10-May-13 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | 15-May-14 | Sep. 30, 2014 | 10-May-13 | 15-May-14 | 10-May-13 | 15-May-14 | |
Domestic And Multi-Currency Line Of Credit Up To $280,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $280,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $280,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $280,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $100,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $100,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $100,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $100,000 Due 2018 [Member] | Enova Line Of Credit [Member] | Enova Line Of Credit [Member] | Enova Line Of Credit [Member] | Enova Multi-Currency Line Of Credit Up to $25 Million [Member] | Variable Rate Senior Unsecured Note Due 2018 [Member] | Variable Rate Senior Unsecured Note Due 2018 [Member] | Variable Rate Senior Unsecured Note Due 2018 [Member] | Variable Rate Senior Unsecured Note Due 2018 [Member] | Variable Rate Senior Unsecured Note Due 2018 [Member] | 5.25% Convertible Senior Notes Due 2029 [Member] | 5.25% Convertible Senior Notes Due 2029 [Member] | 5.25% Convertible Senior Notes Due 2029 [Member] | 5.25% Convertible Senior Notes Due 2029 [Member] | 5.25% Convertible Senior Notes Due 2029 [Member] | 5.75% $300 Million Senior Unsecured Notes | 5.75% $300 Million Senior Unsecured Notes | 5.75% $300 Million Senior Unsecured Notes | 9.75% $500 Million Senior Unsecured Notes Due 2021 [Member] | 9.75% $500 Million Senior Unsecured Notes Due 2021 [Member] | 9.75% $500 Million Senior Unsecured Notes Due 2021 [Member] | Enova Standby And Letter Of Credit [Member] | Standby Letters Of Credit [Member] | Waiver And Amendment [Member] | 6.09% Series A Senior Unsecured Notes Due 2016 [Member] | 6.09% Series A Senior Unsecured Notes Due 2016 [Member] | 6.09% Series A Senior Unsecured Notes Due 2016 [Member] | 7.26% Senior Unsecured Notes Due 2017 [Member] | 7.26% Senior Unsecured Notes Due 2017 [Member] | 7.26% Senior Unsecured Notes Due 2017 [Member] | 6.00% Series A Senior Unsecured Notes Due 2019 [Member] | 6.00% Series A Senior Unsecured Notes Due 2019 [Member] | 6.00% Series A Senior Unsecured Notes Due 2019 [Member] | 6.21%Series B Senior Unsecured Notes Due 2021 [Member] | 6.21%Series B Senior Unsecured Notes Due 2021 [Member] | 6.21%Series B Senior Unsecured Notes Due 2021 [Member] | 6.58% Series B Senior Unsecured Notes Due 2022 [Member] | 6.58% Series B Senior Unsecured Notes Due 2022 [Member] | 6.58% Series B Senior Unsecured Notes Due 2022 [Member] | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | Maximum | ||||||
PCN | PCN | PCN | Domestic And Multi-Currency Line Of Credit Up To $280,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $100,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $100,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $100,000 Due 2018 [Member] | Enova Line Of Credit [Member] | 9.75% $500 Million Senior Unsecured Notes Due 2021 [Member] | LIBOR [Member] | LIBOR [Member] | Agent's Base Rate [Member] | Agent's Base Rate [Member] | Domestic And Multi-Currency Line Of Credit Up To $280,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $100,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $100,000 Due 2018 [Member] | Domestic And Multi-Currency Line Of Credit Up To $100,000 Due 2018 [Member] | Enova Line Of Credit [Member] | 9.75% $500 Million Senior Unsecured Notes Due 2021 [Member] | LIBOR [Member] | LIBOR [Member] | Agent's Base Rate [Member] | Agent's Base Rate [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||
Domestic And Multi-Currency Line Of Credit Up To $280,000 Due 2018 [Member] | Enova Line Of Credit [Member] | Domestic And Multi-Currency Line Of Credit Up To $280,000 Due 2018 [Member] | Enova Line Of Credit [Member] | Domestic And Multi-Currency Line Of Credit Up To $280,000 Due 2018 [Member] | Enova Line Of Credit [Member] | Domestic And Multi-Currency Line Of Credit Up To $280,000 Due 2018 [Member] | Enova Line Of Credit [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | $280,000,000 | ' | ' | ' | $100,000,000 | ' | ' | $75,000,000 | $25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | 50,000,000 | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | 500,000,000 | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.50% | 0.50% | 1.50% | ' | ' | ' | ' | ' | ' | 3.25% | 3.75% | 1.75% | 2.75% |
Commitment fee, percentage | ' | ' | ' | ' | ' | 0.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' |
Weighted average interest rate | ' | ' | ' | ' | ' | 2.97% | 3.30% | 2.81% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, maturity year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2018 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2016 | ' | ' | '2017 | ' | ' | '2019 | ' | ' | '2021 | ' | ' | '2022 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-May-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument maturity days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 days | '1 day | '3 days | ' | ' | ' | ' | ' | ' | ' | '7 days | '31 days | '31 days | ' | ' | ' | ' | ' | ' |
Number Of Pricing Tranches | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 3 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Issuance Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,800,000 | ' | 14,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Issuance Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14-May-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-May-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.25% | ' | 5.75% | ' | ' | ' | 9.75% | 9.75% | ' | ' | ' | 6.09% | ' | ' | 7.26% | ' | ' | 6.00% | ' | ' | 6.21% | ' | ' | 6.58% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Notes Principal Redeemable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note Redeem Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | 103.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 109.75% | ' | ' | ' | ' |
Note Repurchase Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issurance Cost Amortization Period, in years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '37 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | 'seven years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate principal amount of convertible senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Repurchased Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58,600,000 | ' | ' | ' | ' | 103,500,000 | 103,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,400,000 | 89,500,000 | ' | ' | ' | ' | 107,200,000 | ' | ' | ' | ' | ' | ' | 106,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gains (Losses) on Extinguishment of Debt | 5,991,000 | 346,000 | 22,553,000 | 346,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | -1,500,000 | ' | ' | ' | ' | -6,000,000 | ' | ' | ' | ' | ' | ' | -600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | 700,043,000 | 682,849,000 | 700,043,000 | 682,849,000 | 739,989,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 33,333,000 | 35,417,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 21,000,000 | 28,000,000 | 0 | 20,000,000 | 20,000,000 | 0 | 47,000,000 | 47,000,000 | 0 | 18,182,000 | 20,455,000 | 0 | 5,000,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense, Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of Debt Discount (Premium) | ' | ' | 3,845,000 | 4,665,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | 700,000 | 2,500,000 | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual interest expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | 1,300,000 | 4,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 479,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments to Additional Paid in Capital, Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letter of credit facility, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | 12,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Frequency Of Periodic Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Quarterly | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Conversion of Convertible Securities | ' | ' | 747,085 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 747,085 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Make Whole Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Debt Face Amount for Fee Calculation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increased Note Redeem Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Schedule_Of_Long
Long-Term Debt (Schedule Of Long-Term Debt) (Details) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | $700,043 | $739,989 | $682,849 |
Less current portion | 0 | -22,606 | -22,606 |
Total long-term debt | 700,043 | 717,383 | 660,243 |
Domestic And Multi Currency Line Of Credit Due Twenty Eighteen [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | 9,552 | 193,717 | 120,225 |
Debt instrument, maturity year | '2018 | ' | ' |
6.09% Series A Senior Unsecured Notes Due 2016 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | 0 | 21,000 | 28,000 |
Debt instrument, maturity year | '2016 | ' | ' |
Debt instrument, interest rate | 6.09% | ' | ' |
7.26% Senior Unsecured Notes Due 2017 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | 0 | 20,000 | 20,000 |
Debt instrument, maturity year | '2017 | ' | ' |
Debt instrument, interest rate | 7.26% | ' | ' |
Variable Rate Senior Unsecured Note Due 2018 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | 0 | 33,333 | 35,417 |
Debt instrument, maturity year | '2018 | ' | ' |
5.75% senior unsecured notes due 2018 | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | 196,470 | 300,000 | 300,000 |
Debt instrument, maturity year | '2018 | ' | ' |
Debt instrument, interest rate | 5.75% | ' | ' |
6.00% Series A Senior Unsecured Notes Due 2019 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | 0 | 47,000 | 47,000 |
Debt instrument, maturity year | '2019 | ' | ' |
Debt instrument, interest rate | 6.00% | ' | ' |
6.21%Series B Senior Unsecured Notes Due 2021 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | 0 | 18,182 | 20,455 |
Debt instrument, maturity year | '2021 | ' | ' |
Debt instrument, interest rate | 6.21% | ' | ' |
6.58% Series B Senior Unsecured Notes Due 2022 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | 0 | 5,000 | 5,000 |
Debt instrument, maturity year | '2022 | ' | ' |
Debt instrument, interest rate | 6.58% | ' | ' |
5.25% Convertible Senior Unsecured Notes Due 2029 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | 0 | 101,757 | 106,752 |
Debt instrument, maturity year | '2029 | ' | ' |
Debt instrument, interest rate | 5.25% | ' | ' |
Subtotal Parent Debt [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | 206,022 | 739,989 | 682,849 |
Enova Line of Credit [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | 0 | 0 | 0 |
Enova 9.75% senior unsecured notes due 2021 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | 494,021 | 0 | 0 |
Debt instrument, maturity year | '2021 | ' | ' |
Debt instrument, interest rate | 9.75% | ' | ' |
Subtotal Subsidiary Debt [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Total debt | $494,021 | $0 | $0 |
Reclassification_of_OCI_Detail
Reclassification of OCI (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||
Comprehensive Income Net Of Tax [Line Items] | ' | ' | ' | ' | ||
Balance at beginning of year | $7,998 | ($362) | $4,649 | $3,128 | ||
Other Comprehensive Income before Reclassifications | 5,973 | 2,976 | 2,624 | 113 | ||
Amounts Reclassified From Accumulated Other Comprehensive Income Net Of Tax | -48 | 0 | [1] | -48 | -627 | [1] |
Net change in accumulated other comprehensive income | -5,925 | -2,976 | -2,576 | 514 | ||
Balance at end of period | 2,073 | 2,614 | 2,073 | 2,614 | ||
Provision (benefit) for income taxes | 11,478 | -28,013 | 50,658 | 12,727 | ||
Foreigh currency translation gain (loss), net of tax | ' | ' | ' | ' | ||
Comprehensive Income Net Of Tax [Line Items] | ' | ' | ' | ' | ||
Balance at beginning of year | 7,998 | -362 | 4,649 | 2,874 | ||
Other Comprehensive Income before Reclassifications | 5,973 | 2,976 | 2,624 | -260 | ||
Amounts Reclassified From Accumulated Other Comprehensive Income Net Of Tax | -48 | 0 | [1] | -48 | 0 | [1] |
Net change in accumulated other comprehensive income | -5,925 | -2,976 | -2,576 | 260 | ||
Balance at end of period | 2,073 | 2,614 | 2,073 | 2,614 | ||
Amounts Reclassified From Accumulated Other Comprehensive Income, before tax | ' | ' | -74 | ' | ||
Provision (benefit) for income taxes | ' | ' | -26 | ' | ||
Marketable securities, net of tax | ' | ' | ' | ' | ||
Comprehensive Income Net Of Tax [Line Items] | ' | ' | ' | ' | ||
Balance at beginning of year | 0 | 0 | 0 | 254 | ||
Other Comprehensive Income before Reclassifications | 0 | 0 | 0 | 373 | ||
Amounts Reclassified From Accumulated Other Comprehensive Income Net Of Tax | 0 | 0 | [1] | 0 | -627 | [1] |
Net change in accumulated other comprehensive income | 0 | 0 | 0 | 254 | ||
Balance at end of period | 0 | 0 | 0 | 0 | ||
Amounts Reclassified From Accumulated Other Comprehensive Income, before tax | ' | ' | 964 | ' | ||
Provision (benefit) for income taxes | ' | ' | $337 | ' | ||
[1] | pact of this reclassification was $337. |
Net_Income_Per_Share_Reconcili
Net Income Per Share (Reconciliation Of Numerators And Denominators For Basic And Diluted Earnings Per Share) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Earnings Per Share [Abstract] | ' | ' | ' | ' | ||||
Net income attributable to Cash America International, Inc. | $9,916 | $46,186 | $76,624 | $115,244 | ||||
Total weighted average basic shares | 29,186,000 | [1] | 28,426,000 | [1] | 28,808,000 | [1] | 28,747,000 | [1] |
Shares applicable to stock-based compensation | 126,000 | [2] | 102,000 | [2] | 99,000 | [2] | 92,000 | [2] |
Convertible debt | 0 | [3] | 1,851,000 | [3] | 464,000 | [3] | 2,018,000 | [3] |
Total weighted average diluted shares | 29,312,000 | [4] | 30,379,000 | [4] | 29,371,000 | [4] | 30,857,000 | [4] |
Net income - basic | $0.34 | $1.62 | $2.66 | $4.01 | ||||
Net income - diluted | $0.34 | $1.52 | $2.61 | $3.73 | ||||
Vested restricted stock units, in shares | 299,000 | 301,000 | 306,000 | 308,000 | ||||
Non-qualified savings plan, in shares | 31,000 | ' | 32,000 | ' | ||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | ' | ' | 747,085 | ' | ||||
Anti-dilutive shares | 0 | 0 | 0 | ' | ||||
[1] | Includes (i) vested and deferred restricted stock units of 299 and 301, as well as 32 and 31 shares held in the Companybs nonqualified savings plan for the three months ended September 30, 2014 and 2013, respectively | |||||||
[2] | ncludes shares related to unvested restricted stock unit awards. | |||||||
[3] | On May 15, 2014, the Company called the notes and the noteholders elected to convert such notes. The Company settled the principal portion of the outstanding 2029 Convertible Notes in cash | |||||||
[4] | There were no anti-dilutive shares for the three months ended SeptemberB 30, 2014 and 5 anti-dilutive shares for the nine months ended SeptemberB 30, 2014, respe |
Operating_Segment_Information_1
Operating Segment Information (Current Classification Of Administrative And Operating Expenses) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
segement | |||||
Segment Reporting Information And Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' |
Weighted Average Number of Shares, Restricted Stock | 299 | 301 | 306 | 308 | ' |
Revenues [Abstract] | ' | ' | ' | ' | ' |
Pawn loan fees and service charges | $85,313 | $79,298 | $246,490 | $227,940 | ' |
Proceeds from disposition of merchandise | 155,087 | 128,660 | 478,314 | 438,909 | ' |
Consumer loan fees | 229,435 | 227,563 | 688,956 | 640,199 | ' |
Other | 2,343 | 2,280 | 6,608 | 9,261 | ' |
Total revenue | 472,178 | 437,801 | 1,420,368 | 1,316,309 | ' |
Cost of Revenue [Abstract] | ' | ' | ' | ' | ' |
Disposed merchandise | 114,293 | 91,101 | 343,367 | 301,397 | ' |
Consumer loan loss provision | 81,533 | 99,693 | 229,722 | 251,774 | ' |
Total Cost of Revenue | 195,826 | 190,794 | 573,089 | 553,171 | ' |
Net revenue | 276,352 | 247,007 | 847,279 | 763,138 | ' |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' |
Operations and administration | 205,731 | 199,705 | 592,292 | 553,471 | ' |
Loss on Divestitures | 5,176 | 0 | 5,176 | 0 | ' |
Depreciation and amortization | 20,444 | 18,783 | 59,202 | 54,314 | ' |
Total Expenses | 231,351 | 218,488 | 656,670 | 607,785 | ' |
Income from Operations | 45,001 | 28,519 | 190,609 | 155,353 | ' |
Total assets | 2,100,345 | 1,987,592 | 2,100,345 | 1,987,592 | 2,079,731 |
Goodwill | 699,061 | 670,037 | 699,061 | 670,037 | 705,579 |
Number of Operating Segments | ' | ' | 2 | ' | ' |
E-Commerce [Member] | ' | ' | ' | ' | ' |
Revenues [Abstract] | ' | ' | ' | ' | ' |
Pawn loan fees and service charges | 0 | 0 | 0 | 0 | ' |
Proceeds from disposition of merchandise | 0 | 0 | 0 | 0 | ' |
Consumer loan fees | 204,604 | 198,059 | 614,466 | 555,726 | ' |
Other | 564 | 318 | 649 | 1,143 | ' |
Total revenue | 205,168 | 198,377 | 615,115 | 556,869 | ' |
Cost of Revenue [Abstract] | ' | ' | ' | ' | ' |
Disposed merchandise | 0 | 0 | 0 | 0 | ' |
Consumer loan loss provision | 72,919 | 89,656 | 205,661 | 227,847 | ' |
Total Cost of Revenue | 72,919 | 89,656 | 205,661 | 227,847 | ' |
Net revenue | 132,249 | 108,721 | 409,454 | 329,022 | ' |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' |
Operations and administration | 81,296 | 71,246 | 221,727 | 201,935 | ' |
Loss on Divestitures | 0 | ' | 0 | ' | ' |
Depreciation and amortization | 5,338 | 3,958 | 13,772 | 12,986 | ' |
Total Expenses | 86,634 | 75,204 | 235,499 | 214,921 | ' |
Income from Operations | 45,615 | 33,517 | 173,955 | 114,101 | ' |
Total assets | 714,876 | 633,518 | 714,876 | 633,518 | ' |
Goodwill | 210,361 | 210,368 | 210,361 | 210,368 | ' |
Retail Services [Member] | ' | ' | ' | ' | ' |
Revenues [Abstract] | ' | ' | ' | ' | ' |
Pawn loan fees and service charges | 85,313 | 79,298 | 246,490 | 227,940 | ' |
Proceeds from disposition of merchandise | 155,087 | 128,660 | 478,314 | 438,909 | ' |
Consumer loan fees | 24,831 | 29,504 | 74,490 | 84,473 | ' |
Other | 1,602 | 1,797 | 5,452 | 6,566 | ' |
Total revenue | 266,833 | 239,259 | 804,746 | 757,888 | ' |
Cost of Revenue [Abstract] | ' | ' | ' | ' | ' |
Disposed merchandise | 114,293 | 91,101 | 343,367 | 301,397 | ' |
Consumer loan loss provision | 8,614 | 10,037 | 24,061 | 23,927 | ' |
Total Cost of Revenue | 122,907 | 101,138 | 367,428 | 325,324 | ' |
Net revenue | 143,926 | 138,121 | 437,318 | 432,564 | ' |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' |
Operations and administration | 101,868 | 114,051 | 309,845 | 300,841 | ' |
Loss on Divestitures | 5,176 | ' | 5,176 | ' | ' |
Depreciation and amortization | 10,211 | 10,642 | 31,461 | 29,172 | ' |
Total Expenses | 117,255 | 124,693 | 346,482 | 330,013 | ' |
Income from Operations | 26,671 | 13,428 | 90,836 | 102,551 | ' |
Total assets | 1,385,469 | 1,354,074 | 1,385,469 | 1,354,074 | ' |
Goodwill | 488,700 | 459,669 | 488,700 | 459,669 | ' |
Corporate [Member] | ' | ' | ' | ' | ' |
Revenues [Abstract] | ' | ' | ' | ' | ' |
Pawn loan fees and service charges | 0 | 0 | 0 | 0 | ' |
Proceeds from disposition of merchandise | 0 | 0 | 0 | 0 | ' |
Consumer loan fees | 0 | 0 | 0 | 0 | ' |
Other | 177 | 165 | 507 | 1,552 | ' |
Total revenue | 177 | 165 | 507 | 1,552 | ' |
Cost of Revenue [Abstract] | ' | ' | ' | ' | ' |
Disposed merchandise | 0 | 0 | 0 | 0 | ' |
Consumer loan loss provision | 0 | 0 | 0 | 0 | ' |
Total Cost of Revenue | 0 | 0 | 0 | 0 | ' |
Net revenue | 177 | 165 | 507 | 1,552 | ' |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' |
Operations and administration | 22,567 | 14,408 | 60,720 | 50,695 | ' |
Loss on Divestitures | 0 | ' | 0 | ' | ' |
Depreciation and amortization | 4,895 | 4,183 | 13,969 | 12,156 | ' |
Total Expenses | 27,462 | 18,591 | 74,689 | 62,851 | ' |
Income from Operations | -27,285 | -18,426 | -74,182 | -61,299 | ' |
Domestic Country [Member] | E-Commerce [Member] | ' | ' | ' | ' | ' |
Revenues [Abstract] | ' | ' | ' | ' | ' |
Pawn loan fees and service charges | 0 | 0 | 0 | 0 | ' |
Proceeds from disposition of merchandise | 0 | 0 | 0 | 0 | ' |
Consumer loan fees | 126,123 | 104,954 | 343,922 | 283,097 | ' |
Other | 7 | 249 | 81 | 1,051 | ' |
Total revenue | 126,130 | 105,203 | 344,003 | 284,148 | ' |
Cost of Revenue [Abstract] | ' | ' | ' | ' | ' |
Disposed merchandise | 0 | 0 | 0 | 0 | ' |
Consumer loan loss provision | 55,058 | 49,225 | 122,422 | 112,391 | ' |
Total Cost of Revenue | 55,058 | 49,225 | 122,422 | 112,391 | ' |
Net revenue | 71,072 | 55,978 | 221,581 | 171,757 | ' |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' |
Operations and administration | 32,201 | 30,445 | 81,425 | 73,688 | ' |
Loss on Divestitures | 0 | ' | 0 | ' | ' |
Depreciation and amortization | 2,618 | 1,906 | 6,577 | 6,866 | ' |
Total Expenses | 34,819 | 32,351 | 88,002 | 80,554 | ' |
Income from Operations | 36,253 | 23,627 | 133,579 | 91,203 | ' |
Domestic Country [Member] | Retail Services [Member] | ' | ' | ' | ' | ' |
Revenues [Abstract] | ' | ' | ' | ' | ' |
Pawn loan fees and service charges | 84,081 | 77,532 | 241,459 | 222,508 | ' |
Proceeds from disposition of merchandise | 151,399 | 124,352 | 466,016 | 425,716 | ' |
Consumer loan fees | 24,831 | 29,504 | 74,490 | 84,473 | ' |
Other | 1,564 | 1,731 | 5,284 | 6,149 | ' |
Total revenue | 261,875 | 233,119 | 787,249 | 738,846 | ' |
Cost of Revenue [Abstract] | ' | ' | ' | ' | ' |
Disposed merchandise | 111,216 | 87,530 | 333,651 | 290,569 | ' |
Consumer loan loss provision | 8,614 | 10,037 | 24,061 | 23,927 | ' |
Total Cost of Revenue | 119,830 | 97,567 | 357,712 | 314,496 | ' |
Net revenue | 142,045 | 135,552 | 429,537 | 424,350 | ' |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' |
Operations and administration | 100,128 | 111,220 | 301,470 | 291,409 | ' |
Loss on Divestitures | 273 | ' | 273 | ' | ' |
Depreciation and amortization | 9,931 | 9,878 | 30,357 | 27,579 | ' |
Total Expenses | 110,332 | 121,098 | 332,100 | 318,988 | ' |
Income from Operations | 31,713 | 14,454 | 97,437 | 105,362 | ' |
Foreign Country [Member] | E-Commerce [Member] | ' | ' | ' | ' | ' |
Revenues [Abstract] | ' | ' | ' | ' | ' |
Pawn loan fees and service charges | 0 | 0 | 0 | 0 | ' |
Proceeds from disposition of merchandise | 0 | 0 | 0 | 0 | ' |
Consumer loan fees | 78,481 | 93,105 | 270,544 | 272,629 | ' |
Other | 557 | 69 | 568 | 92 | ' |
Total revenue | 79,038 | 93,174 | 271,112 | 272,721 | ' |
Cost of Revenue [Abstract] | ' | ' | ' | ' | ' |
Disposed merchandise | 0 | 0 | 0 | 0 | ' |
Consumer loan loss provision | 17,861 | 40,431 | 83,239 | 115,456 | ' |
Total Cost of Revenue | 17,861 | 40,431 | 83,239 | 115,456 | ' |
Net revenue | 61,177 | 52,743 | 187,873 | 157,265 | ' |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' |
Operations and administration | 23,238 | 25,245 | 72,419 | 76,176 | ' |
Loss on Divestitures | 0 | ' | 0 | ' | ' |
Depreciation and amortization | 601 | 706 | 1,683 | 2,101 | ' |
Total Expenses | 23,839 | 25,951 | 74,102 | 78,277 | ' |
Income from Operations | 37,338 | 26,792 | 113,771 | 78,988 | ' |
Foreign Country [Member] | Retail Services [Member] | ' | ' | ' | ' | ' |
Revenues [Abstract] | ' | ' | ' | ' | ' |
Pawn loan fees and service charges | 1,232 | 1,766 | 5,031 | 5,432 | ' |
Proceeds from disposition of merchandise | 3,688 | 4,308 | 12,298 | 13,193 | ' |
Consumer loan fees | 0 | 0 | 0 | 0 | ' |
Other | 38 | 66 | 168 | 417 | ' |
Total revenue | 4,958 | 6,140 | 17,497 | 19,042 | ' |
Cost of Revenue [Abstract] | ' | ' | ' | ' | ' |
Disposed merchandise | 3,077 | 3,571 | 9,716 | 10,828 | ' |
Consumer loan loss provision | 0 | 0 | 0 | 0 | ' |
Total Cost of Revenue | 3,077 | 3,571 | 9,716 | 10,828 | ' |
Net revenue | 1,881 | 2,569 | 7,781 | 8,214 | ' |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' |
Operations and administration | 1,740 | 2,831 | 8,375 | 9,432 | ' |
Loss on Divestitures | 4,903 | ' | 4,903 | ' | ' |
Depreciation and amortization | 280 | 764 | 1,104 | 1,593 | ' |
Total Expenses | 6,923 | 3,595 | 14,382 | 11,025 | ' |
Income from Operations | -5,042 | -1,026 | -6,601 | -2,811 | ' |
Admin [Member] | E-Commerce [Member] | ' | ' | ' | ' | ' |
Revenues [Abstract] | ' | ' | ' | ' | ' |
Pawn loan fees and service charges | 0 | 0 | 0 | 0 | ' |
Proceeds from disposition of merchandise | 0 | 0 | 0 | 0 | ' |
Consumer loan fees | 0 | 0 | 0 | 0 | ' |
Other | 0 | 0 | 0 | 0 | ' |
Total revenue | 0 | 0 | 0 | 0 | ' |
Cost of Revenue [Abstract] | ' | ' | ' | ' | ' |
Disposed merchandise | 0 | 0 | 0 | 0 | ' |
Consumer loan loss provision | 0 | 0 | 0 | 0 | ' |
Total Cost of Revenue | 0 | 0 | 0 | 0 | ' |
Net revenue | 0 | 0 | 0 | 0 | ' |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' |
Operations and administration | 25,857 | 15,556 | 67,883 | 52,071 | ' |
Loss on Divestitures | 0 | ' | 0 | ' | ' |
Depreciation and amortization | 2,119 | 1,346 | 5,512 | 4,019 | ' |
Total Expenses | 27,976 | 16,902 | 73,395 | 56,090 | ' |
Income from Operations | ($27,976) | ($16,902) | ($73,395) | ($56,090) | ' |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 9 Months Ended | |||
Sep. 30, 2014 | Dec. 31, 2013 | Nov. 20, 2013 | Sep. 30, 2013 | |
customer | ||||
Loss Contingencies [Line Items] | ' | ' | ' | ' |
Restricted cash | $60,000 | $8,000,000 | $8,000,000 | $0 |
Release of Restricted Cash | 7,900,000 | ' | ' | ' |
Number Of Customers Reimbursed | ' | ' | 14,000 | ' |
Customer reimbursement expense paid | 6,400,000 | ' | ' | ' |
Enova [Member] | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' |
Lease Term | '12 years | ' | ' | ' |
Lease Renew Term | '2 years 6 months | ' | ' | ' |
Leased Area | 160,000 | ' | ' | ' |
Incentive from Lessor | 9,800,000 | ' | ' | ' |
Rent Abatements | $8,500,000 | ' | ' | ' |
Commitments_And_Contingencies_2
Commitments And Contingencies Future Leases (Details) (Enova Lease Obligation [Member], USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Enova Lease Obligation [Member] | ' |
2014 | $825 |
2015 | 3,351 |
2016 | 3,324 |
2017 | 5,864 |
2018 | 5,023 |
Thereafter | 47,883 |
Total | $66,270 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative)(Details) (USD $) | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value Disclosures [Abstract] | ' | ' | ' | ' |
Cash and cash equivalents | $123,532 | $67,228 | $80,359 | $61,374 |
Cash And Cash Equivalent Maturity Period | '90 days | ' | ' | ' |
Liability For Third Party Lender Owned Consumer Loans Fair value | $2,532 | ' | $2,830 | ' |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value Assets(Liabilities) Measured On Recurring Basis) (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | |||
In Thousands, unless otherwise specified | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Forward currency exchange contracts | $29 | $6 | ($790) | |||
Nonqualified savings plan assets | 13,480 | [1] | 14,576 | [1] | 13,455 | [1] |
Total | 13,509 | 14,582 | 12,665 | |||
Level 1 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Forward currency exchange contracts | 0 | 0 | 0 | |||
Nonqualified savings plan assets | 13,480 | [1] | 14,576 | [1] | 13,455 | [1] |
Total | 13,480 | 14,576 | 13,455 | |||
Level 2 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Forward currency exchange contracts | 29 | 6 | -790 | |||
Nonqualified savings plan assets | 0 | [1] | 0 | [1] | 0 | [1] |
Total | 29 | 6 | -790 | |||
Level 3 [Member] | ' | ' | ' | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | |||
Forward currency exchange contracts | 0 | 0 | 0 | |||
Nonqualified savings plan assets | 0 | [1] | 0 | [1] | 0 | [1] |
Total | $0 | $0 | $0 | |||
[1] | The nonqualified savings plan assets have an offsetting liability of an approximately equal amount, which is included in bAccounts payable and accrued expensesb in the Companybs consolidated balance sheets. |
Fair_Value_Measurements_Financ
Fair Value Measurements (Financial Assets and Liabilities Not Measured At Fair Value) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Carrying Value [Member] | ' | ' | ' |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | ' |
Cash and cash equivalents | $123,532 | $67,228 | $80,359 |
Restricted Cash | 60 | 8,000 | ' |
Pawn loans | 264,612 | 261,148 | 253,678 |
Short-term loans and line of credit accounts, net | 178,338 | 202,829 | 187,869 |
Installment loans, net | 169,887 | 156,012 | 140,412 |
Pawn loan fees and service charges receivable | 54,501 | 53,438 | 50,090 |
Total | 790,930 | 748,655 | 712,408 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' | ' |
Liability for estimated losses on consumer loans guaranteed by the Company | 2,532 | 3,080 | 2,830 |
Domestic and Multi-currency Line of credit | 9,552 | 193,717 | 120,225 |
Senior unsecured notes | 690,491 | 444,515 | 455,872 |
2029 Convertible Notes | ' | 101,757 | 106,752 |
Total | 702,575 | 743,069 | 685,679 |
Estimated Fair Value [Member] | ' | ' | ' |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | ' |
Cash and cash equivalents | 123,532 | 67,228 | 80,359 |
Restricted Cash | 60 | 8,000 | ' |
Pawn loans | 264,612 | 261,148 | 253,678 |
Short-term loans and line of credit accounts, net | 178,338 | 202,829 | 187,869 |
Installment loans, net | 169,887 | 156,012 | 140,412 |
Pawn loan fees and service charges receivable | 54,501 | 53,438 | 50,090 |
Total | 790,930 | 748,655 | 712,408 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' | ' |
Liability for estimated losses on consumer loans guaranteed by the Company | 2,532 | 3,080 | 2,830 |
Domestic and Multi-currency Line of credit | 10,035 | 207,426 | 126,260 |
Senior unsecured notes | 703,838 | 430,554 | 445,888 |
2029 Convertible Notes | ' | 155,788 | 195,612 |
Total | 716,405 | 796,848 | 770,590 |
Estimated Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | ' |
Cash and cash equivalents | 123,532 | 67,228 | 80,359 |
Restricted Cash | 60 | 8,000 | ' |
Pawn loans | 0 | 0 | 0 |
Short-term loans and line of credit accounts, net | 0 | 0 | 0 |
Installment loans, net | 0 | 0 | 0 |
Pawn loan fees and service charges receivable | 0 | 0 | 0 |
Total | 123,592 | 75,228 | 80,359 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' | ' |
Liability for estimated losses on consumer loans guaranteed by the Company | 0 | 0 | 0 |
Domestic and Multi-currency Line of credit | 0 | 0 | 0 |
Senior unsecured notes | 203,838 | 0 | 0 |
2029 Convertible Notes | ' | 0 | 0 |
Total | 203,838 | 0 | 0 |
Estimated Fair Value [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 |
Restricted Cash | 0 | 0 | ' |
Pawn loans | 0 | 0 | 0 |
Short-term loans and line of credit accounts, net | 0 | 0 | 0 |
Installment loans, net | 0 | 0 | 0 |
Pawn loan fees and service charges receivable | 0 | 0 | 0 |
Total | 0 | 0 | 0 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' | ' |
Liability for estimated losses on consumer loans guaranteed by the Company | 0 | 0 | 0 |
Domestic and Multi-currency Line of credit | 10,035 | 207,426 | 126,260 |
Senior unsecured notes | 500,000 | 430,554 | 445,888 |
2029 Convertible Notes | ' | 155,788 | 195,612 |
Total | 510,035 | 793,768 | 767,760 |
Estimated Fair Value [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 |
Restricted Cash | 0 | 0 | ' |
Pawn loans | 264,612 | 261,148 | 253,678 |
Short-term loans and line of credit accounts, net | 178,338 | 202,829 | 187,869 |
Installment loans, net | 169,887 | 156,012 | 140,412 |
Pawn loan fees and service charges receivable | 54,501 | 53,438 | 50,090 |
Total | 667,338 | 673,427 | 632,049 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' | ' |
Liability for estimated losses on consumer loans guaranteed by the Company | 2,532 | 3,080 | 2,830 |
Domestic and Multi-currency Line of credit | 0 | 0 | 0 |
Senior unsecured notes | 0 | 0 | 0 |
2029 Convertible Notes | ' | 0 | 0 |
Total | $2,532 | $3,080 | $2,830 |
Derivative_Instruments_Fair_Va
Derivative Instruments (Fair Values Of Derivative Instruments) (Details) (Forward Currency Exchange Contracts [Member], Non-Designated Derivatives [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | |||
In Thousands, unless otherwise specified | ||||||
Forward Currency Exchange Contracts [Member] | Non-Designated Derivatives [Member] | ' | ' | ' | |||
Derivative [Line Items] | ' | ' | ' | |||
Asset derivatives, Notional Amount | $8,312 | $76,760 | $4,480 | |||
Gross amounts of recognized assets | 29 | 27 | 9 | |||
Gross amounts liabilities offset in the balance sheet | 0 | [1] | -11 | [1] | -9 | [1] |
Net amounts of assets in the balance sheet | 29 | [2] | 16 | [2] | 0 | [2] |
Derivative Liability, Notional Amount | 0 | 4,786 | 92,810 | |||
Gross amounts of recognized liabilities | 0 | 21 | 799 | |||
Gross amounts assets offset in balance sheet | 0 | -11 | -9 | [1] | ||
Net amounts of liabilities in the balance sheet | $0 | $10 | $790 | [2] | ||
[1] | As of SeptemberB 30, 2014, the Company had no gross amounts of recognized derivative instruments that the Company makes an accounting policy election not to offset. In addition, there is no financial collateral related to the Companybs derivatives. | |||||
[2] | Represents the fair value of forward currency exchange contracts, which is recorded in bPrepaid expenses and other assetsb in the consolidated balance sheets. |
Derivative_Instruments_Effect_
Derivative Instruments (Effect Of Derivative Instruments) (Details) (Non-Designated Derivatives [Member], USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Derivative [Line Items] | ' | ' | ' | ' | ||||
Gains (Losses) Recognized in Income | $401 | ($5,432) | ' | ' | ||||
Gains Recognized in OCI | 0 | 0 | ' | ' | ||||
Gains (Losses) Reclassified From OCI into Income | 0 | 0 | ' | ' | ||||
Forward Currency Exchange Contracts [Member] | ' | ' | ' | ' | ||||
Derivative [Line Items] | ' | ' | ' | ' | ||||
Gains (Losses) Recognized in Income | 401 | [1] | -5,432 | [1] | -1,354 | [1] | -181 | [1] |
Gains Recognized in OCI | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Gains (Losses) Reclassified From OCI into Income | $0 | [1] | $0 | [1] | $0 | [1] | $0 | [1] |
[1] | The gains/(losses) on these derivatives substantially offset the (losses)/gains on the hedged portion of foreign intercompany balances. |
Corporate_Reorganization_Corpo1
Corporate Reorganization Corporate Reorganization (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 |
Reorganizations [Abstract] | ' |
Restructuring Charges | $4 |
Payments for Restructuring | 2.1 |
Accrued Reorganization Expenses | $6.10 |
Subsequent_Events_Details
Subsequent Events (Details) (Subsequent Event [Member]) | Nov. 13, 2014 | Nov. 03, 2014 |
Subsequent Event [Member] | ' | ' |
Subsequent Event [Line Items] | ' | ' |
Rate of share received from spin off company | ' | 0.915 |
Ownership percentage | 20.00% | ' |
Spin off percentage | 80.00% | ' |