Cash America 2013 Annual Report Download - page 169

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CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
144
The fair values of the Company’s derivative instruments as of December 31, 2013 and 2012 were as follows
(dollars in thousands):
Assets As of December 31, 2013
N
on-designated derivatives:
Notional
Amount
Gross Amounts
of Recognized
Assets
Gross Amounts
Offset in the
Consolidated
Balance Sheet(a)
Net Amounts of Assets
Presented in the
Consolidated Balance
Sheet(b)
Forward currency exchange contracts $ 81,547 $ 27 $ (21) $ 6
Assets As of December 31, 2012
N
on-designated derivatives: Notional Amount
Gross Amounts o
f
Recognized
Liabilities
Gross Amounts
Offset in the
Consolidated
Balance Sheet(a)
Net Amounts of
Liabilities Presented in
the Consolidated
Balance Sheet(b)
Forward currency exchange contracts $ 93,813 $ (406) $ - $ (406)
(a) As of December 31, 2013, the Company had no gross amounts of recognized derivative instruments that the Company makes an accounting
policy election not to offset. In addition, there is no financial collateral related to the Company’s derivatives. The Company has no liabilities
that are subject to an enforceable master netting agreement or similar arrangement.
(b) Represents the fair value of forward currency exchange contracts, which is recorded in “Prepaid expenses and other assets” in the consolidated
balance sheets.
The following table presents information on the effect of derivative instruments on the consolidated results of
operations and AOCI for the years ended December 31, 2013 and 2012 (dollars in thousands):
Gains (Losses) Recognized in
Income
Gains (Losses) Recognized in
AOCI
Gains (Losses) Reclassified
From AOCI into Income
Year Ended December 31, Year Ended December 31, Year Ended December 31,
2013 2012 2013 2012 2013 2012
Derivatives designated as hedges:
Interest rate contracts $
─
$
─
$ - $ 12 $
─
$
─
Total $
─
$
─
$ - $ 12 $
─
$
─
N
on-designated derivatives:
Forward currency exchange
contracts(a) $ (1,813) $ (4,794) $
─
$
─
$
─
$
─
Total $ (1,813) $ (4,794) $
─
$
─
$
─
$
─
(
a
)
The gains/(losses) on these derivatives substantially offset the (losses)/gains on the hedged portion of foreign intercompany
balances.
18. Stock-Based Compensation
Under the Cash America International, Inc. First Amended and Restated 2004 Long-Term Incentive Plan, as
amended (the “2004 Plan”), the Company is authorized to issue 2,700,000 shares of Common Stock pursuant to
“Awards” granted as incentive stock options (intended to qualify under Section 422 of the Internal Revenue Code of
1986, as amended), nonqualified stock options, restricted stock units (“RSU”), restricted stock, performance shares,
stock appreciation rights or other stock-based awards. Since 2004, RSU awards are the only stock-based awards