Cash America 2011 Annual Report Download - page 144
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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
113
14. Equity
Share Repurchases
On January 26, 2011, the Company’s Board of Directors authorized management to purchase up to a total of
2,500,000 shares of the Company’s common stock at management’s discretion in open market transactions and
cancelled the Company’s previous share repurchase authorization, which had been in place since October 24, 2007.
The following table summarizes the aggregate shares purchased under these plans during each of the three years ended
December 31:
Year Ended December 31,
2011 2010 2009
Shares purchased under 2011 and 2007 authorization 435,000 385,100 394,476
Aggregate amount (in thousands) $ 19,576 $13,583 $10,746
Average price paid per share $ 45.00 $ 35.27 $ 27.24
Periodically, shares are purchased in the open market on behalf of participants relating to the Company’s
nonqualified deferred compensation plans. Certain amounts are subsequently distributed to participants. Before 2010,
certain amounts were transferred from the Nonqualified Savings Plan to participants’ 401(k) accounts annually based
on results of the 401(k) plan’s non-discrimination testing results. For the years ended December 31, 2011 and 2010,
the rabbi trust that holds shares of the Company’s common stock for its Nonqualified Savings Plan sold forfeited
shares from the Nonqualified Savings Plan on the open market. Activities during each of the three years ended
December 31 are summarized as follows:
Year Ended December 31,
2011 2010 2009
Purchases:
N
umber of shares 93 1,552 1,916
Aggregate amount (in thousands) $ 5 $ 58 $ 45
Sales:
N
umber of shares 9 1,727 -
Aggregate amount (in thousands) $ - $ 36 $ -
Distributions and transfers to 401(k) savings plan:
N
umber of shares - 4 28,610
Aggregate amount (in thousands) $ - $ - $ 553
Accumulated Other Comprehensive Income (Loss)
Components of accumulated other comprehensive income (loss), after tax, for the years ended December 31,
2011, 2010, and 2009 were as follows (dollars in thousands):
As of December 31,
2011 2010 2009
Unrealized derivatives loss, net of tax $ (13) $ (111) $ (14)
Foreign currency translation (loss) gain, net of tax (6,077) 6,210 1,195
Marketable securities unrealized loss, net of tax (806) (1,302) -
Accumulated other comprehensive income (loss) $ (6,896) $ 4,797 $ 1,181