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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.