-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, F3T5Msyorf/NnyRHJ7DDC9NygBwO28DZn7Ws/VRL4ZPlNuSqdggfxNyc4a8vlgt/ 81mk7P07LY/rXIl5ov82fg== 0000950134-98-005632.txt : 19980701 0000950134-98-005632.hdr.sgml : 19980701 ACCESSION NUMBER: 0000950134-98-005632 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971231 FILED AS OF DATE: 19980630 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CASH AMERICA INTERNATIONAL INC CENTRAL INDEX KEY: 0000807884 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS RETAIL [5900] IRS NUMBER: 752018239 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 001-09733 FILM NUMBER: 98658433 BUSINESS ADDRESS: STREET 1: 1600 W 7TH ST CITY: FT WORTH STATE: TX ZIP: 76102 BUSINESS PHONE: 8173351100 MAIL ADDRESS: STREET 1: 1600 WEST 7TH STREET CITY: FORT WORTH STATE: TX ZIP: 76102 FORMER COMPANY: FORMER CONFORMED NAME: CASH AMERICA INVESTMENTS INC /TX/ DATE OF NAME CHANGE: 19920520 11-K 1 FORM 11-K 1 FORM 11-K ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1997 ------------------------------------------------------- OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ------------------ -------------------- Commission file number 1-9733 A. Full title of the plan and the address of the plan, if different from that of the issuer name below: CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: CASH AMERICA INTERNATIONAL, INC. 1600 W. 7th Fort Worth, TX 76102 2 INFORMATION FURNISHED 1. Audited financial statements and supplemental schedules of the Cash America International, Inc. 401(k) Savings Plan (the "Plan"). 2. The written consent of the independent accountants for the Plan, filed as an exhibit to this annual report. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the undersigned member of the Administrative Committee has duly caused this annual report to be signed on behalf of the Cash America International, Inc. 401(k) Savings Plan by the undersigned thereunto duly authorized. CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN By: /s/ HUGH SIMPSON --------------------------------- Hugh Simpson Cash America International, Inc. 401(k) Savings Plan Administrative Committee Date: June 30, 1998 ii 3 CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES TABLE OF CONTENTS
PAGE(S) Report of Independent Accountants 2 Financial Statements: Statements of Net Assets Available for Benefits as of December 31, 1997 and 1996 3 Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 1997 4 Notes to Financial Statements 5 - 15 Supplemental Schedules: I. Line 27a - Schedule of Assets Held for Investment Purposes as of December 31, 1997 16 II. Line 27d - Schedule of Reportable Transactions - Single Transactions for the Year Ended December 31, 1997 17 - 18
1 4 REPORT OF INDEPENDENT ACCOUNTANTS To the Plan Administrator of the Cash America International, Inc. 401(k) Savings Plan We have audited the accompanying statements of net assets available for benefits of the Cash America International, Inc. 401(k) Savings Plan (the Plan) as of December 31, 1997 and 1996, and the related statement of changes in net assets available for benefits for the year ended December 31, 1997. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 1997 and 1996, and the changes in its net assets available for benefits for the year ended December 31, 1997, in conformity with generally accepted accounting principles. Our audits are performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying supplemental schedules of the Plan are presented for purposes of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedules have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. /s/ COOPERS & LYBRAND, LLP - ------------------------------ COOPERS & LYBRAND, LLP Fort Worth, Texas May 22, 1998 2 5 CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 1997 AND 1996
ASSETS 1997 1996 -------------- -------------- Investments, at fair value: Equity mutual funds (cost of $2,663,211 and $1,418,642 for 1997 and 1996, respectively) $ 2,886,306 $ 1,482,037 Fixed income mutual funds (cost of $1,247,530 and $927,015 for 1997 and 1996, respectively) 1,306,229 953,576 Equity securities (cost of $1,454,289 and $936,952 for 1997 and 1996, respectively) 2,207,857 1,142,272 Participant notes receivable (cost of $361,984 and $148,921 for 1997 and 1996, respectively) 361,984 148,921 Cash and equivalents (cost of $70,107 and $72,037 for 1997 and 1996, respectively) 70,107 72,037 -------------- -------------- Total investments 6,832,483 3,798,843 Contributions receivable: Participants 132,779 59,774 Company 29,300 -------------- -------------- Total assets 6,994,562 3,858,617 -------------- -------------- Net assets available for benefits $ 6,994,562 $ 3,858,617 ============== ==============
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS. 3 6 CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1997 Additions to net assets attributed to: Dividend income $ 312,942 Interest income 27,791 Net appreciation in fair value of investments 892,432 ---------- Net investment income 1,233,165 Contributions: Company 444,431 Participants 2,012,101 ---------- Total additions 3,689,697 ---------- Deductions from net assets attributed to: Participants' withdrawals 509,209 Administrative expenses 44,543 ---------- Total deductions 553,752 ---------- Net increase 3,135,945 Net assets available for benefits, Beginning of year 3,858,617 ---------- End of year $6,994,562 ==========
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE FINANCIAL STATEMENTS. 4 7 CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS 1. DESCRIPTION OF PLAN AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: The following brief description of the Cash America International, Inc. 401(k) Savings Plan (the Plan) is provided as general information only. Participants should refer to the Plan document for complete information regarding the Plan's definitions, benefits, eligibility and other matters. PLAN AMENDMENT The Plan was amended effective July 1, 1996. This amendment, among other changes, generally provides participants additional investment directions for their contributions, accelerated vesting of Company contributions, reduced service time for participation, and increased Company matching percentages. The amendment also renamed the Plan from the "Cash America International, Inc. 401(k) Employees Savings Plan" to the "Cash America International, Inc. 401(k) Savings Plan". GENERAL The Plan is a contributory savings plan available to all full-time employees of Cash America International, Inc. (the Company) who have completed six months of service and have reached 21 years of age, and all part-time employees who have completed one year of service and have reached 21 years of age. Employee contribution to the Plan is voluntary. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). The Plan is intended to qualify under Sections 401(a) and 401(k) of the Internal Revenue Code. Prior to July 1, 1996, an employee must have completed one year of service to be eligible to participate in the Plan. CONTRIBUTIONS Participants may contribute a percentage of their annual compensation (up to 15%) to the Plan on a before-tax basis, subject to the Internal Revenue Service's (IRS) limitations, which are adjusted each year to take into account any cost of living increase provided for that year. For 1997 and 1996, the IRS limitation was $9,500. Contributions designated by the participant are withheld by the employer and remitted directly to the trustee. Company matching contributions are made in cash and are allocated among a participant's account in the same percentages to which the employee directs his or her contributions. The Company matches 50% of a participant's contribution on the first 5% of compensation. 5 8 CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS, CONTINUED 1. DESCRIPTION OF PLAN AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED: CONTRIBUTIONS, CONTINUED Prior to July 1, 1996, matching contributions were made in the Company's common stock. The Company matched 50% of a participant's contribution on the first 2 1/2% of compensation and 25% of a participant's contribution on the second 2 1/2% of compensation. PARTICIPANTS' ACCOUNTS Each participant's account is credited with his or her contribution and allocations of (a) the Company's matching and discretionary contributions and (b) Plan earnings. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account. INVESTMENT OPTIONS A participant may direct contributions in any combination of the following eight investment options: o CASH AMERICA INTERNATIONAL, INC. COMMON STOCK FUND - Funds are invested primarily in shares of Cash America International, Inc. common stock. The number of participants in this fund as of December 31, 1997 is 612. o STABLE VALUE FUND - Funds are invested in high quality, short-term debt securities such as bank CDs, highly rated commercial paper, and short-term obligations of, or guaranteed by, the U.S. or Canadian Governments. The number of participants in this fund as of December 31, 1997 is 287. o INTERMEDIATE BOND FUND - Funds are invested primarily in debt securities, including U.S. Government securities, corporate bonds, and mortgage-related securities. Funds are also invested in securities denominated in foreign currencies. The number of participants in this fund as of December 31, 1997 is 245. o MIXED INVESTMENT FUND - Funds are invested primarily in common stock and convertible securities. Funds are also invested in investment-grade fixed income securities. The number of participants in this fund as of December 31, 1997 is 434. 6 9 CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS, CONTINUED 1. DESCRIPTION OF PLAN AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED: INVESTMENT OPTIONS, CONTINUED o BASIC STOCK FUND - Funds are primarily invested in income-producing common stocks. Funds are also invested in fixed-income securities. The number of participants in this fund as of December 31, 1997 is 426. o GROWTH STOCK FUND - Funds are primarily invested in common stocks and convertible securities, especially those with prices deemed below their long-term value. Funds are also invested in equity or debt securities of foreign companies. The number of participants in this fund as of December 31, 1997 is 431. o AGGRESSIVE GROWTH STOCK FUND - Funds are primarily invested in common stock of small- to medium-size emerging growth companies. The number of participants in this fund as of December 31, 1997 is 430. o INTERNATIONAL FUND - Funds are primarily invested in stocks and debt securities of companies and governments outside the United States. The number of participants in this fund as of December 31, 1997 is 180. The allocation of a participant's contributions among investment funds is determined by the participant and may be changed at any time. Prior to July 1, 1996, participants could direct their salary deferral to the following five investment options: Prime Money Market Fund, Asset Allocation Fund, Limited Volatility Bond Fund, Disciplined Value Equity Fund and the Cash America International, Inc. Common Stock Fund. 7 10 CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS, CONTINUED 1. DESCRIPTION OF PLAN AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED: VESTING Participants are always 100% vested in their voluntary contributions plus actual earnings thereon. Vesting in the remainder of their accounts is based on the number of years of service as follows: VESTING SCHEDULE
SUBSEQUENT TO PRIOR TO JULY 1, 1996 JULY 1, 1996 YEARS OF SERVICE VESTING PERCENTAGE VESTING PERCENTAGE --------------------- ----------------------- ------------------------ Less than 1 0% 0% 1 20% 0% 2 40% 25% 3 60% 50% 4 80% 75% 5 or more 100% 100%
PARTICIPANT NOTES RECEIVABLE Participants may borrow from their fund accounts a minimum of $500 up to a maximum equal to the lesser of $50,000 or 50 percent of their vested account balance. Loan transactions are treated as a transfer to (from) the investment fund from (to) the Participant Notes Receivable Fund. Loan terms range from one to five years, except for loans funded for purchase of a principal residence which may be repaid over ten years. Prior to July 1, 1996, the maximum loan was equal to the lesser of $10,000 or 50% of the vested account balance and the interest rate was redetermined quarterly. The loans are collateralized by the balance in the participant's account and bear interest at 1% above the prime rate as published in the Wall Street Journal on the first day of the month in which the loan is funded. Interest rates range from 7.75% to 9.5% for loans outstanding at December 31, 1997. Principal and interest are paid ratably through monthly payroll deductions. A loan origination fee of $50 is assessed to the borrowing participant by the Plan upon funding of the loan. 8 11 CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS, CONTINUED 1. DESCRIPTION OF PLAN AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED: PAYMENT OF BENEFITS The vested portion of a participant's account becomes available upon termination of employment, retirement, total and permanent disability, death, upon reaching the age of 59-1/2, or for the purpose of enabling a participant to meet an eligible hardship. All distributions from participant accounts must be paid as a lump sum. In the event of death of the participant, the beneficiary is entitled to receive the lump sum distribution. Hardship withdrawals are permitted if the participant meets the eligibility requirements. FORFEITURES Forfeitures represent unvested portions of terminated participants' accounts and are used to partially offset recordkeeping, trustee and other administrative expenses of the Plan. BASIS OF ACCOUNTING The financial statements of the Plan are prepared under the accrual method of accounting. INVESTMENT VALUATION AND INCOME RECOGNITION The Plan's investments in each investment fund are valued at fair value, using market quotations, where available, and other available information. Participant notes receivable are valued at original loan value less principal repayments, which approximates fair value. The Plan presents, in the statement of changes in net assets available for benefits, the net appreciation (depreciation) in fair value of investments, which consists of the realized gains or losses and the unrealized appreciation (depreciation) on investments. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. PARTICIPANT WITHDRAWALS Participant withdrawals are recorded when paid for financial statement purposes. For Form 5500 reporting purposes, participant withdrawals are recorded when processed and approved for payment. 9 12 CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS, CONTINUED 1. DESCRIPTION OF PLAN AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED: PLAN ADMINISTRATION Expenses related to the Plan are borne by four sources: 1) loan origination fees, 2) forfeitures, 3) the Company, and 4) participants. USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of changes in net assets available for benefits during the reporting period. Actual results could differ from those estimates. 2. INVESTMENTS IN EXCESS OF 5% OF NET ASSETS AVAILABLE FOR BENEFITS: Investments that comprised 5% or more of the net assets available for benefits at December 31, 1997 and 1996, were as follows:
1997 1996 ---------- ---------- Mutual funds: AIM Equity Constellation Retail $ 791,270 $ 429,887 Dodge & Cox Balanced 657,562 441,707 Harris Associates Investment Trust Oakmark 823,135 291,440 Schwab Retirement Money 443,187 324,389 T. Rowe Price Equity Income 1,090,856 686,462 Equity securities: Cash America International, Inc. common stock 2,207,857 1,142,272
These investments are subject to future changes in market prices that may make these financial instruments less valuable and result in a loss. 10 13 CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS, CONTINUED 2. INVESTMENTS IN EXCESS OF 5% OF NET ASSETS AVAILABLE FOR BENEFITS, CONTINUED: During 1997, net appreciation of the Plan's investments was as follows: Fixed income mutual funds $ 53,258 Equity mutual funds 214,860 Equity securities 624,314 -------- Net appreciation $892,432 ========
3. PLAN TERMINATION The Plan has been established with the intention that it will continue and be a permanent plan. However, the Plan may be terminated by resolution of the Company's Board of Directors at any time, subject to the provisions of ERISA. In the event the Plan terminates, the participants will become 100% vested in their accounts. 4. PARTY-IN-INTEREST TRANSACTIONS: The Company's contributions prior to July 1, 1996 were made in the form of Company stock. Certain plan investments are shares of mutual funds managed by Charles Schwab Trust Company or their affiliates. This institution serves as trustee to the Plan and, therefore, qualify as party-in-interest transactions. 5. FEDERAL INCOME TAX STATUS: The Plan was based on a prototype plan developed by the trustee which received its opinion letter on March 16, 1995, in which the Internal Revenue Service stated that the prototype plan was in compliance with the applicable requirements of the Internal Revenue Code. The Plan has been amended from the prototype plan; however, the plan administrator believes that the Plan as designed and operated is in compliance with the applicable requirements of the Internal Revenue Code, therefore, the financial statements of the Plan do not have a provision for federal income taxes. The Company is in process of submitting the Plan for specific determination by the Internal Revenue Service. 11 14 CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS, CONTINUED 6. FINANCIAL INFORMATION BY INVESTMENT OPTION: The following presents the net assets available for benefits as of December 31, 1997 and 1996 and the changes in net assets available for benefits for the year ended December 31, 1997 by investment option: 12 15 6. FINANCIAL INFORMATION BY INVESTMENT OPTION (CONTINUED): STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS as of December 31, 1997
Participant Directed Funds ----------------------------------------------------------------------------------------- CASH AMERICA INTERNATIONAL, INC. STABLE INTERMEDIATE MIXED COMMON STOCK VALUE BOND INVESTMENT ----------------------- ----------------- ------------------- ----------------- Investments at fair value: Equity mutual funds Fixed income mutual funds $ 443,187 $ 205,480 $ 657,562 Equity securities $ 2,207,857 Participant notes receivable Cash and equivalents 10,979 4,673 4,191 10,296 ----------------------- ----------------- ------------------- ----------------- Total investments 2,218,836 447,860 209,671 667,858 ----------------------- ----------------- ------------------- ----------------- Contributions receivable: Participants 11,950 3,983 25,228 Company 2,639 879 5,566 ----------------------- ----------------- ------------------- ----------------- Total contributions receivable 14,589 4,862 30,794 ----------------------- ----------------- ------------------- ----------------- Net assets available for benefits $ 2,218,836 $ 462,449 $ 214,533 $ 698,652 ======================= ================= =================== ================= Participant Directed Funds ----------------------------------------------------------------------------------------- Aggressive Basic Growth Growth Stock Stock Stock International ------------------- ----------------- ------------------ ------------------- Investments at fair value: Equity mutual funds $ 1,090,856 $ 823,135 $ 791,270 $ 181,045 Fixed income mutual funds Equity securities Participant notes receivable Cash and equivalents 9,483 13,418 13,971 3,096 ------------------- ----------------- ------------------ ------------------- Total investments 1,100,339 836,553 805,241 184,141 ------------------- ----------------- ------------------ ------------------- Contributions receivable: Participants 31,867 33,195 13,278 13,278 Company 7,031 7,325 2,930 2,930 ------------------- ----------------- ------------------ ------------------- Total contributions receivable 38,898 40,520 16,208 16,208 ------------------- ----------------- ------------------ ------------------- Net assets available for benefits $ 1,139,237 $ 877,073 $ 821,449 $ 200,349 =================== ================= ================== =================== Participant Directed Funds ----------------------- Participant Notes Receivable Total ------------------ ------------------- Investments at fair value: Equity mutual funds $ 2,886,306 Fixed income mutual funds 1,306,229 Equity securities 2,207,857 Participant notes receivable $ 361,984 361,984 Cash and equivalents 70,107 ------------------ ------------------- Total investments 361,984 6,832,483 ------------------ ------------------- Contributions receivable: Participants 132,779 Company 29,300 ------------------ ------------------- Total contributions receivable 162,079 ------------------ ------------------- Net assets available for benefits $ 361,984 $ 6,994,562 ================== ===================
13 16 6. FINANCIAL INFORMATION BY INVESTMENT OPTION (CONTINUED): STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 1996
PARTICIPANT DIRECTED FUNDS ------------------------------------------------------------------------------------ CASH AMERICA INTERNATIONAL, INC. STABLE INTERMEDIATE MIXED COMMON STOCK VALUE BOND INVESTMENT ----------------------- --------------- ------------------ --------------- Investments at fair value: Equity mutual funds Fixed income mutual funds $ 324,389 $ 187,480 $ 441,707 Equity securities $ 1,142,272 Participant notes receivable Cash and equivalents 9,165 7,899 4,156 12,054 ----------------------- --------------- ------------------ --------------- Total investments 1,151,437 332,288 191,636 453,761 Contributions receivable Participants 5,463 1,742 11,302 ----------------------- --------------- ------------------ --------------- Total assets 1,151,437 337,751 193,378 465,063 ----------------------- --------------- ------------------ --------------- Net assets available for benefits $ 1,151,437 $ 337,751 $ 193,378 $ 465,063 ======================= =============== ================== =============== Participant Directed Funds -------------------------------------------------------------------------------- Aggressive Basic Growth Growth Stock Stock Stock International --------------- --------------- ------------------- ------------------- Investments at fair value: Equity mutual funds $ 686,462 $ 291,440 $ 429,887 $ 74,248 Fixed income mutual funds Equity securities Participant notes receivable Cash and equivalents 9,645 9,729 16,283 3,106 --------------- --------------- ------------------- ------------------- Total investments 696,107 301,169 446,170 77,354 Contributions receivable Participants 14,537 14,715 6,052 5,963 --------------- --------------- ------------------- ------------------- Total assets 710,644 315,884 452,222 83,317 --------------- --------------- ------------------- ------------------- Net assets available for benefits $ 710,644 $ 315,884 $ 452,222 $ 83,317 =============== =============== =================== =================== Participant Directed Funds --------------------- Participant Notes Receivable Total ----------------- ----------------- Investments at fair value: Equity mutual funds $ 1,482,037 Fixed income mutual funds 953,576 Equity securities 1,142,272 Participant notes receivable $ 148,921 148,921 Cash and equivalents 72,037 ----------------- ----------------- Total investments 148,921 3,798,843 Contributions receivable Participants 59,774 ----------------- ----------------- Total assets 148,921 3,858,617 ----------------- ----------------- Net assets available for benefits $ 148,921 $ 3,858,617 ================= =================
14 17 6. FINANCIAL INFORMATION BY INVESTMENT OPTION (CONTINUED): STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1997
PARTICIPANT DIRECTED FUNDS ------------------------------------------------------------------------------------ CASH AMERICA INTERNATIONAL, INC. STABLE INTERMEDIATE MIXED COMMON STOCK VALUE BOND INVESTMENT -------------------- --------------- ------------------- ----------------- Additions to net assets attributed to: Dividend income $ 7,120 $ 22,372 $ 12,171 $ 49,146 Interest income 6,099 41 Net appreciation (depreciation) in fair value of investments 624,315 1,353 51,905 Company contributions 58,618 47,636 24,890 63,988 Participant contributions 590,536 170,530 71,376 189,075 -------------------- --------------- ------------------- ----------------- Total additions 1,286,688 240,538 109,790 354,155 -------------------- --------------- ------------------- ----------------- Deductions from net assets attributed to: Participant withdrawals (140,620) (36,457) (31,472) (76,729) Forfeitures (3,048) 7,465 (739) (1,404) Administrative expenses (44,543) -------------------- --------------- ------------------- ----------------- Net increase before transfers among funds, net 1,143,020 167,003 77,579 276,022 Fund transfers (75,621) (42,305) (56,424) (42,433) -------------------- --------------- ------------------- ----------------- Net increase 1,067,399 124,698 21,155 233,589 Net assets available for benefits, Beginning of year 1,151,437 337,751 193,378 465,063 -------------------- --------------- ------------------- ----------------- End of year 2,218,836 $ 462,449 $ 214,533 $ 698,652 ==================== =============== =================== ================= PARTICIPANT DIRECTED FUNDS --------------------------------------------------------------------------------- AGGRESSIVE BASIC GROWTH GROWTH STOCK STOCK STOCK INTERNATIONAL --------------- -------------- ------------------ ------------------ Additions to net assets attributed to: Dividend income $ 103,747 $ 45,481 $ 54,120 $ 18,785 Interest income 17 Net appreciation (depreciation) in fair value of investments 119,068 101,528 8,191 (13,928) Company contributions 69,632 73,578 84,273 21,816 Participant contributions 247,613 338,565 307,785 96,621 --------------- -------------- ------------------ ------------------ Total additions 540,060 559,152 454,386 123,294 --------------- -------------- ------------------ ------------------ Deductions from net assets attributed to: Participant withdrawals (88,264) (39,764) (67,653) (14,531) Forfeitures 890 (1,060) (1,843) (261) Administrative expenses --------------- -------------- ------------------ ------------------ Net increase before transfers among funds, net 452,686 518,328 384,890 108,502 Fund transfers (24,093) 42,861 (15,663) 8,530 --------------- -------------- ------------------ ------------------ Net increase 428,593 561,189 369,227 117,032 Net assets available for benefits, Beginning of year 710,644 315,884 452,222 83,317 --------------- -------------- ------------------ ------------------ End of year $ 1,139,237 $ 877,073 $ 821,449 $ 200,349 =============== ============== ================== ================== PARTICIPANT DIRECTED FUNDS ----------------------- PARTICIPANT NOTES RECEIVABLE TOTAL ------------------ ----------------- Additions to net assets attributed to: Dividend income $ 312,942 Interest income $ 21,634 27,791 Net appreciation (depreciation) in fair value of investments 892,432 Company contributions 444,431 Participant contributions 2,012,101 ------------------ ----------------- Total additions 21,634 3,689,697 ------------------ ----------------- Deductions from net assets attributed to: Participant withdrawals (13,719) (509,209) Forfeitures Administrative expenses (44,543) ------------------ ----------------- Net increase before transfers among funds, net 7,915 3,135,945 Fund transfers 205,148 ------------------ ----------------- Net increase 213,063 3,135,945 Net assets available for benefits, Beginning of year 148,921 3,858,617 ------------------ ----------------- End of year $ 361,984 $ 6,994,562 ================== =================
15 18 SUPPLEMENTAL SCHEDULES 19 SCHEDULE I CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN LINE 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AS OF DECEMBER 31, 1997
SHARES COST VALUE FAIR VALUE ------------- --------------- --------------- AIM Equity Constellation Retail Mutual Funds 9,995 $ 778,920 $ 791,270 Dodge & Cox Balanced Mutual Funds 9,847 602,666 657,562 Harris Associates Investment Trust Oakmark Mutual Funds 20,370 728,414 823,135 Pimco Total Return Institutional Class Mutual Funds 19,385 201,677 205,480 * Schwab Retirement Money Mutual Funds 443,187 443,187 443,187 T. Rowe Price Equity Income Mutual Funds 41,843 961,887 1,090,856 Templeton Foreign Mutual Funds 18,196 193,990 181,045 Cash and equivalents 70,107 70,107 * Cash America International, Inc. common stock 170,649 1,454,289 2,207,857 Participant Notes Receivable at 7.75% to 9.5% 361,984 361,984 --------------- --------------- $ 5,797,121 $ 6,832,483 =============== ===============
* Denotes an investment held by an entity known to be a party-in-interest to the Plan. 16 20 SCHEDULE II CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS - SINGLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1997
EXPENSE INCURRED IDENTITY OF PARTY INVOLVED PURCHASE SELLING WITH COST OF INVOLVED DESCRIPTION OF ASSETS PRICE PRICE TRANSACTION ASSET ---------------------------- ----------------------------- ------------ ------------ -------------- ---------- Charles Schwab Cash America International, Inc. Trust Company common stock $ 324,309 CURRENT VALUE OF ASSET ON IDENTITY OF PARTY INVOLVED TRANSACTION NET GAIN INVOLVED DATE OR (LOSS) ---------------------------- ------------- ------------- Charles Schwab Trust Company $ 324,309
17 21 SCHEDULE III CASH AMERICA INTERNATIONAL, INC. 401(k) SAVINGS PLAN LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS - SERIES OF TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1997
EXPENSE INCURRED PURCHASE SELLING WITH IDENTITY OF PARTY INVOLVED DESCRIPTION OF ASSETS PRICE PRICE TRANSACTION ---------------------------------- -------------------------------------------------- ------------- ---------- ------------- Charles Schwab Trust Company AIM Equity Constellation Retail Mutual Funds 173 purchases $ 502,561 140 sales $ 179,194 Charles Schwab Trust Company Dodge & Cox Balanced Mutual Funds 172 purchases 339,821 155 sales 191,890 Charles Schwab Trust Company Harris Associates Investment Trust Oakmark Mutual Funds 167 purchases 521,296 129 sales 132,785 Charles Schwab Trust Company Pimco Total Return Institutional Class Mutual Funds 139 purchases 122,289 121 sales 111,066 Charles Schwab Trust Company Schwab Retirement Money Mutual Funds 186 purchases 331,823 136 sales 222,630 Charles Schwab Trust Company T. Rowe Price Equity Income Mutual Funds 180 purchases 463,182 162 sales 215,602 Charles Schwab Trust Company Cash America International,Inc. common stock 78 purchases 606,355 117 sales 288,678 COST OF TRANSACTION NET GAIN DESCRIPTION OF ASSETS ASSET DATE OR (LOSS) ------------------------------------------------- ---------- --------------- ---------- AIM Equity Constellation Retail Mutual Funds 173 purchases $ 502,561 140 sales $ 178,164 179,194 $ 1,030 Dodge & Cox Balanced Mutual Funds 172 purchases 339,821 155 sales 187,191 191,890 4,699 Harris Associates Investment Trust Oakmark Mutual Funds 167 purchases 521,296 129 sales 125,627 732,785 7,158 Pimco Total Return Institutional Class Mutual Funds 139 purchases 122,289 121 sales 111,391 111,066 (325) Schwab Retirement Money Mutual Funds 186 purchases 331,823 136 sales 222,630 222,630 T. Rowe Price Equity Income Mutual Funds 180 purchases 463,182 162 sales 206,225 215,602 9,337 Cash America International,Inc. common stock 78 purchases 606,355 117 sales 277,796 288,678 10,882
18 22 INDEX TO EXHIBITS
EXHIBIT NUMBER DESCRIPTION - ------- ----------- 23 Consent of Coopers & Lybrand, LLP
EX-23 2 CONSENT OF COOPERS & LYBRAND LLP 1 EXHIBIT 23 We consent to the incorporation by reference in the Registration Statement of Cash America International, Inc. on Form S-8 (File No. 33-59733), of our report dated May 22, 1998 on our audits of the financial statements and supplemental schedules of the Cash America 401(k) Savings Plan as of December 31, 1997 and 1996 and for the year ended December 31, 1997, which report is included in this Annual Report on Form 11-K. /s/ COOPERS & LYBRAND LLP Fort Worth, Texas June 30, 1998 -----END PRIVACY-ENHANCED MESSAGE-----