Cash America 2013 Annual Report Download - page 168
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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
143
consolidated compensation expense of $0.8 million, $1.0 million and $0.9 million for SERP contributions for the years
ended December 31, 2013, 2012 and 2011, respectively.
The Nonqualified Savings Plans and the SERPs are nonqualified deferred compensation plans. Benefits under
the Nonqualified Savings Plans and SERPs are unfunded. As of December 31, 2013 and 2012, the Company held
securities in rabbi trusts to pay benefits under these plans. As of December 31, 2011, the rabbi trust for the Cash
America International, Inc. Nonqualified Savings Plan also held shares of the Company’s common stock. The
securities other than Company stock are classified as trading securities, and the unrealized gains and losses on these
securities are netted with the costs of the plans in “Operations and administration expenses” in the consolidated
statements of income. The Company’s common stock held in the Cash America International, Inc. Nonqualified
Savings Plan was included in treasury shares in 2011.
Amounts included in the consolidated balance sheets relating to the Nonqualified Savings Plan and the SERP
as of December 31, 2013 and 2012 were as follows (dollars in thousands):
As of December 31,
2013 2012
Prepaid expenses and other assets $14,576 $11,347
Accounts payable and accrued expenses 15,326 12,397
Other liabilities 586 581
Treasury shares 667 662
16. Marketing Expenses
Marketing expenses, excluding lead purchase costs, were $95.2 million, $72.2 million and $41.2 million,
respectively, and lead purchase expense was $52.6 million, $49.7 million and $43.2 million, respectively, for the years
ended December 31, 2013, 2012 and 2011. See Note 2 for further discussion.
17. Derivative Instruments
The Company periodically uses derivative instruments to manage interest rate risk and foreign currency
exchange rate risk.
As of December 31, 2013, there were no outstanding interest rate cap agreements. The Company uses forward
currency exchange contracts to hedge foreign currency risk in the United Kingdom and Australia. The Company’s
forward currency exchange contracts are non-designated derivatives. Any gain or loss resulting from these contracts is
recorded as income or loss and is included in “Foreign currency transaction (loss) gain” in the consolidated statements
of income.