Merger and Other Acquisition Expenses

The Company has incurred significant expenses in connection with the Merger and integration with Cash America. The merger related expenses are predominantly incremental costs directly associated with the merger and integration of Cash America, including professional fees, legal expenses, severance, retention and other employee-related costs, accelerated vesting of certain equity compensation awards, contract breakage costs and costs related to consolidation of technology systems and corporate facilities. In addition, the Company has incurred transaction and integration costs in connection with the Company’s other acquisitions. The Company presents merger and other acquisition expenses separately in the condensed consolidated statements of income to identify these activities apart from the expenses incurred to operate the business. The table below summarizes the major components of merger and other acquisition expenses:



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Merger related expenses:
Transaction ⁽¹⁾	$	12,791	$	—	$	17,120	$	—
Severance and retention ⁽²⁾	13,868		—		13,868		—
Other ⁽³⁾	2,739		—		2,739		—
Total merger related expenses	29,398		—		33,727		—

Other acquisition expenses:
Transaction and integration	—		—		150		1,175
Total other acquisition expenses	—		—		150		1,175
Total merger and other acquisition expenses	$	29,398	$	—	$	33,877	$	1,175


⁽¹⁾	For the three month and nine month periods ended September 30, 2016, the Company recognized an income tax benefit of $1,876 and $3,387, respectively, related to the merger transaction expenses as a significant portion are not deductible for income tax purposes.


⁽²⁾	For the three month and nine month periods ended September 30, 2016, the Company made severance and retention payments of $9,497 and as of September 30, 2016 had $4,371 accrued for future payments. Accrued severance and retention is included in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets.


⁽³⁾	Represents accelerated share-based compensation expense related to restricted stock awards for certain First Cash employees which vested as a result of the Merger.