Cash America 2007 Annual Report Download - page 104

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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
84
2006 and 2005, respectively, for all of the above restricted stock units granted. Total unrecognized
compensation cost related to restricted units at December 31, 2007 was $6.5 million which will be
recognized over a weighted average period of approximately 4.0 years.
The following table summarizes the restricted stock unit activity during 2007, 2006 and 2005:
2007 2006 2005
Weighted Weighted Weighted
Average Average Average
Fair Value Fair Value Fair Value
at Date of at Date of at Date of
Units Grant Units Grant Units Grant
Outstanding at beginning of year. 471,029 $ 21.83 395,591 $ 21.30 342,798 $ 20.31
Units granted ............................... 87,739 43.01 106,248 24.87 100,061 24.99
Shares issued ............................... (35,076) 24.47 (28,742) 25.57 (12,115) 22.46
Units forfeited.............................. (6,395) 24.94 (2,068) 25.18 (35,153) 21.75
Outstanding at end of year........... 517,297 $ 25.21 471,029 $ 21.83 395,591 $ 21.30
Units vested at end of year........... 163,807 $ 19.71 127,267 $ 19.56 74,901 $ 20.12
The outstanding RSUs had an aggregate intrinsic value of $19.5 million and the outstanding vested
RSUs had an aggregate intrinsic value of $6.2 million at December 31, 2007. Income tax benefits realized
from the issuance of common stock for the vested RSUs for the year ended December 31, 2007, 2006 and
2005 were $512,000, $259,000 and $111,000, respectively. The portions of these benefits recorded as
increases to additional paid-in capital were $211,000, $2,000 and $15,000 for the year ended December 31,
2007, 2006 and 2005, respectively. The income tax benefits recorded as increases to additional paid-in
capital represent the tax benefits realized upon issuance of common stock in excess of the amounts
previously recognized in the consolidated financial statements.
16. Supplemental Disclosures of Cash Flow Information
The following table sets forth certain cash and non-cash activities for the years ended December 31
(in thousands):
2007 2006 2005
Cash paid during the year for –
Interest.............................................................................................. $ 17,367 $ 12,311 $ 11,153
Income taxes..................................................................................... 41,567 32,355 27,464
Non-cash investing and financing activities –
Pawn loans forfeited and transferred to merchandise held for
disposition ................................................................................... $ 206,798 $ 177,188 $ 156,766
Pawn loans renewed ......................................................................... 79,751 78,942 77,878
Cash advances renewed .................................................................... 300,826 89,427 14,336
Liabilities assumed in acquisitions ................................................... 64 536 172
17. Operating Segment Information
The Company has three reportable operating segments: pawn lending, cash advance and check
cashing. The cash advance and check cashing segments are managed separately due to the different
operational strategies required and, therefore, are reported as separate segments. Check cashing fees,
royalties and other income at pawn lending locations, which were previously included in either proceeds
from disposition of merchandise or netted into administration expenses, are reclassified out of those line