Cabela's 2013 Annual Report Download - page 109

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99
CABELA’S INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Share and Per Share Amounts)
We also have a liability for workers’ compensation claims submitted and for those claims incurred prior to year
end but not yet reported totaling $5,513 and $4,064 at the end of 2013 and 2012, respectively. These liabilities are
included in accrued expenses in the consolidated balance sheet.
The liabilities for health and workers’ compensation claims incurred but not reported are based upon
internally developed calculations. These estimates are regularly evaluated for adequacy based on the most current
information available, including historical claim payments, expected trends, and industry factors.
18. REGULATORY CAPITAL REQUIREMENTS
WFB is subject to various regulatory capital requirements administered by the Federal Deposit Insurance
Corporation and the Nebraska State Department of Banking and Finance to ensure capital adequacy. Under capital
adequacy guidelines and the regulatory framework for prompt corrective action, WFB must meet specific capital
guidelines that involve quantitative measures of WFB’s assets, liabilities, and certain off-balance sheet items as
calculated under regulatory accounting practices. WFB’s capital amounts and classification are also subject to
qualitative judgment by the regulators with respect to components, risk weightings, and other factors.
As of December 31, 2013 and 2012, the most recent notification from the Federal Deposit Insurance
Corporation categorized WFB as “well-capitalized” under the regulatory framework for prompt corrective action.
To be categorized as “well-capitalized” WFB must maintain certain amounts and ratios (defined in the regulations)
as set forth in the following table. There are no conditions or events since that notification that management
believes have changed WFB’s category.
Actual
Capital Requirements
to be Classified
Adequately-Capitalized
Capital Requirements
to be Classified
Well-Capitalized
Amount Ratio Amount Ratio Amount Ratio
2013:
Total Capital to Risk-Weighted Assets $ 511,617 12.5% $ 327,218 8.0% $ 409,022 10.0%
Tier I Capital to Risk-Weighted Assets 460,465 11.3 163,609 4.0 245,413 6.0
Tier I Capital to Average Assets 460,465 11.1 165,341 4.0 206,677 5.0
2012:
Total Capital to Risk-Weighted Assets $ 440,927 12.0% $ 295,081 8.0% $ 368,852 10.0%
Tier I Capital to Risk-Weighted Assets 394,580 10.7 147,541 4.0 221,311 6.0
Tier I Capital to Average Assets 394,580 11.2 140,664 4.0 175,830 5.0
19. STOCK BASED COMPENSATION PLANS AND EMPLOYEE BENEFIT PLANS
Stock-Based Compensation – The Company recognized total stock-based compensation expense of $14,969,
$13,733, and $12,911 in 2013, 2012, and 2011, respectively. Compensation expense related to the Company’s stock-
based payment awards is recognized in selling, distribution, and administrative expenses in the consolidated
statements of income. Compensation cost for awards is recognized using a straight-line amortization method over
the vesting period. At December 28, 2013, the total unrecognized deferred stock-based compensation balance for
all equity awards issued, net of expected forfeitures, was $20,193, net of tax, which is expected to be amortized
over a weighted average period of 2.6 years.