Cash America 2014 Annual Report Download - page 132

CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
117
The Nonqualified Savings Plan and the SERP are nonqualified deferred compensation plans. Benefits under
the Nonqualified Savings Plan and SERP are unfunded. As of December 31, 2014 and 2013, the Company held
securities in rabbi trusts to pay benefits under these plans. The securities 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 expense” in the consolidated statements of income.
Amounts included in the consolidated balance sheets relating to the Nonqualified Savings Plan and the
SERP as of December 31, 2014 and 2013 were as follows (dollars in thousands):
As of December 31,
2014 2013
Prepaid expenses and other assets $12,259 $14,016
Accounts payable and accrued expenses
12,259
14,016
16. Marketing Expenses
Marketing expenses were $8.0 million, $12.4 million and $13.1 million, respectively, for the years ended
December 31, 2014, 2013 and 2012. See Note 2 for further discussion of the Company’s accounting policies related
to marketing expenses.
17. Stock-Based Compensation
The 2014 LTIP became effective on May 22, 2014, when it was approved by the shareholders of the
Company, and will terminate May 21, 2024, unless terminated earlier by the Board of Directors. The Company’s
previous long-term incentive plan, the 2004 Plan, terminated on April 21, 2014 in accordance with the provisions of
that plan and no new awards may be made under that plan. Under the 2014 LTIP, the Company is authorized to
issue up to 3,400,000 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, stock
appreciation rights, performance units, restricted stock, RSUs and other share-based or share-related awards or in
connection with Director Deferred Shares. Since 2004, RSU awards have been the only stock-based awards granted
by the Company. As of December 31, 2014, there were 2,969,902 shares available for future grants under the 2014
LT IP.
Historically, the Company has repurchased its shares on the open market from time to time pursuant to an
authorization from the Board of Directors of the Company and held the shares in treasury. The Company has
reissued those shares upon stock option exercises and upon the issuance of shares when RSUs vest under the
Company’s stock-based compensation plans. See Note 14 for further discussion of the Company’s share repurchase
plans.
The Company received 42,499, 33,479 and 63,066 shares during the years ended December 31, 2014, 2013
and 2012, respectively, of its common stock valued at approximately $1.5 million, $1.6 million and $2.6 million,
respectively, as partial payment of taxes required to be withheld upon issuance of shares for RSUs and upon the
exercise of stock options.
During the year ended December 31, 2012, the Company received net proceeds totaling $1.8 million from
the exercise of stock options that were granted under the Company’s previous stock-based compensation plans for
198,900 shares.