Cash America 2013 Annual Report Download - page 166
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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
141
matters. As of December 31, 2013, the Company’s remaining accrual for the Ohio Reimbursement Program was $0.3
million.
14. Equity
Share Repurchases
On January 24, 2013, 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 (the “2013
Authorization”) and canceled the Company’s previous share repurchase authorization, which had been in place since
January 26, 2011 (the “2011 Authorization”). The following table summarizes the aggregate shares purchased under
these plans during each of the three years ended December 31:
Year Ended December 31,
2013 2012 2011
Shares purchased under 2013 Authorization and
2011 Authorization 966,700 576,064 435,000
Aggregate amount (in thousands) $ 46,052 $22,509 $19,576
Average price paid per share $ 47.64 $ 39.07 $ 45.00
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. In January
2012, the Company purchased 1,211 shares of the Company’s common stock from the rabbi trust that held the shares
for the Company’s Nonqualified Savings Plan, which no longer permits investments in the Company’s common stock.
Activities during each of the three years ended December 31 are summarized as follows (dollars in thousands):
Year Ended December 31,
2013 2012 2011
Purchases:
N
umber of shares 99 108 93
Aggregate amount $ 4 $ 4 $ 5
Sales:
N
umber of shares - 1,211 (a) 9
Aggregate amount $ - $ 25 $ -
(
a
)
Represents shares purchased by the Company from the rabbi trust that held the shares for the
N
onqualified Savings Plan.