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Quarterly Financial Data
12 Months Ended
Dec. 31, 2013
Quarterly Financial Data [Abstract]  
Quarterly Financial Data

25. Quarterly Financial Data (Unaudited)

 

The Company's operations are subject to seasonal fluctuations. Net income tends to be highest during the first and fourth calendar quarters when revenue levels are seasonally highest. The first quarter benefits from high average loan balances at the beginning of the period and high relative levels of merchandise sales. The loan portfolios perform well with the heavy repayment of pawn loans and consumer loans, plus the associated interest and fees on both, through tax refund proceeds received by customers in the first quarter each year. The fourth quarter benefits from the seasonally highest levels of pawn loan and consumer loan balances and merchandise dispositions activities associated with the holiday season. The following is a summary of the quarterly results of operations for the years ended December 31, 2013 and 2012 (dollars in thousands, except per share data):

 

    First Second Third Fourth
    Quarter Quarter Quarter Quarter
 2013:            
  Total revenue  $ 468,128 $ 410,951 $ 437,801 $ 480,346
  Cost of revenue   196,187  166,190  190,794  208,697
  Net revenue   271,941  244,761  247,007  271,649
  Net income attributable to Cash America International, Inc.(a)  43,926  25,132  46,186  27,284
  Diluted net income per share (b) $1.40 $0.81 $1.52 $0.91
   
  Diluted weighted average common shares   31,371  30,845  30,379  29,968
               
 2012:            
  Total revenue  $ 457,488 $ 411,644 $ 439,694 $ 491,604
  Cost of revenue   200,704  178,036  191,217  224,516
  Net revenue   256,784  233,608  248,477  267,088
  Net income attributable to Cash America International, Inc.(c)  41,467  29,820  11,703  24,480
  Diluted net income per share (b) $ 1.30 $ 0.94 $ 0.37 $ 0.79
   
  Diluted weighted average common shares   31,912  31,822  31,375  30,884
               
               
(a)  Net income attributable to Cash America International, Inc. for the third quarter of 2013 did not follow the normal seasonal trend due to the income tax benefit in connection with the Creazione Deduction and the expenses related to the 2013 Litigation Settlement. See Notes 12 and 13.
(b)  The sum of the quarterly net income per share amounts may not total to each full year amount presented in the Company's financial statements because these computations are made independently for each quarter and for the full year and take into account the weighted average number of common shares outstanding for each period, including the effect of dilutive securities for that period.
(c)  Net income attributable to Cash America International, Inc. for the third and fourth quarter of 2012 did not follow the normal seasonal trend due to the expenses recognized in connection with the Ohio Reimbursement Program and the Mexico Reorganization. See Notes 13 and 23.