MERGER AND OTHER ACQUISITION EXPENSES

The Company incurred significant expenses in 2016 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 in 2016 and prior years. The Company presents merger and other acquisition expenses separately in the 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:



	Year Ended December 31,
	2016		2015		2014
Merger related expenses:
Transaction ⁽¹⁾	$	18,252	$	—	$	—
Severance and retention ⁽²⁾	15,229		—		—
Other ⁽³⁾	2,739		—		—
Total merger related expenses	36,220		—		—

Other acquisition expenses:
Transaction and integration	450		2,875		998
Total other acquisition expenses	450		2,875		998
Total merger and other acquisition expenses	$	36,670	$	2,875	$	998


⁽¹⁾	For the year ended December 31, 2016, the Company recognized an income tax benefit of $3,943 related to the merger transaction expenses; a significant portion of these expenses were not deductible for income tax purposes.


⁽²⁾	For the year ended December 31, 2016, the Company made severance and retention payments of $10,381 and as of December 31, 2016 had $4,848 accrued for future payments. Accrued severance and retention is included in accounts payable and accrued expenses in the accompanying 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.