Cash America 2015 Annual Report Download - page 108

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agreements. The delivery of the Enova shares of common stock will occur periodically based on the vesting or
deferral terms that are applicable to the RSU awards or Director Deferred Shares. In the event the award does not
vest and shares are forfeited or if shares are withheld to pay taxes for vested awards, the Enova shares will be
retained by the Company and sold.
As of December 31, 2015, the Company’s cost basis in its investment in Enova common stock was
approximately$19.6million,andanunrealizedgainofapproximately$23.0millionwasincludedin“Accumulated
other comprehensive income.” For the year ended December 31, 2015, the Company recognized a gain of
approximately$1.7millionforthedispositionofEnovacommonstockasaresultofthedistributionofsharesfor
payment of RSU awards, as well as the sale of shares that were withheld to pay taxes for issued awards. The
Company’s investment in Enova common stock is included in “Investment in equity securities” in the consolidated
balance sheets. Activity during the year ended December 31, 2015 for the Enova shares retained by the Company is
shown below (shares in ones):
Enova Shares
Attributed to the
Company (a)
Potential Enova
Shares to be
Delivered Under
the LTIPs (b)
Total Enova
Shares Held by
the Company
Enova shares as of December 31, 2014 5,911,840 685,087 6,596,927
Forfeitures
(c) 52,266 (52,266) —
Shares delivered under the LTIPs — (90,052) (90,052)
Shares withheld for taxes and sold — (31,264) (31,264)
Shares held as of December 31, 2015 5,964,106 511,505 6,475,611
% ownership of Enova as of December 31, 2015 18.07% 1.55% 19.62%
(a) Does not include shares retained for delivery under the LTIPs.
(b) The Enova shares payable for vested deferred RSUs and Director Deferred Shares are held in a rabbi trust.
(c) Shares initially allocated for delivery under the LTIPs that were forfeited prior to vesting are attributed to the Company and are to be
disposed of by the Company.
10. Accounts Payable and Accrued Expenses
AccountspayableandaccruedexpensesasofDecember31,2015and2014,wereasfollows(dollarsin
thousands):
AsofDecember31,
2015 2014
Trade accounts payable $ 18,182 $ 13,800
Accrued taxes, other than income taxes 5,936 8,242
Accrued payroll, annual incentive and fringe benefits 32,123 41,613
Accrued interest payable 1,648 1,658
Accrual for consumer loan payments rejected for non-sufficient funds 570 1,049
Deferred CSO fees 9,933 3,025
Liability for losses on third-party lender-owned consumer loans 1,986 1,060
Other accrued liabilities 4,208 3,884
Total $ 74,586 $ 74,331
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
104