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Discontinued Operations
 12 Months Ended
Dec. 31, 2012
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
DISCONTINUED OPERATIONS

The Company’s strategy has been to grow its pawn operations while reducing regulatory exposure from other consumer lending products, which include certain consumer loan and credit services products offered in the United States. In September 2012, the Company closed seven of its consumer loan stores located in the Texas cities of Austin and Dallas due in part to city ordinances enacted during 2012 in these cities, which significantly restricted the Company's ability to provide credit services products. The Company recorded a loss on disposal of $628,000, net of tax, or $0.03 per share, from these stores. The after-tax operating results from operations for these Texas stores were immaterial in 2012, 2011 and 2010.

In March 2011, the Company sold all ten of its consumer loan stores located in Illinois to a privately-held operator of check cashing and consumer lending stores. Under the terms of the agreement, the buyer purchased the outstanding customer loans, customer account lists and fixed assets, assumed leases at all the store locations and hired all of the store-level employees. During fiscal 2011, the Company recorded a gain of approximately $5,979,000, net of tax, or $0.19 per share, from the sale of these stores. The after-tax earnings from operations for the Illinois stores were an additional $514,000, or $0.02 per share during fiscal 2011. Comparable after-tax earnings were $2,881,000 or $0.10 per share in 2010.

In September 2010, the Company discontinued its internet-based credit services product offered in Maryland due to a change in state law which significantly restricted the offering of such products. The after-tax earnings from operations for the Maryland credit services operation were $887,000, or $0.03 per share in 2010.

All revenue, expenses and income reported in these financial statements have been adjusted to reflect reclassification of all discontinued operations. The carrying amounts of the assets and liabilities for these discontinued operations at December 31, 2012, and 2011 were immaterial.

The following table summarizes the operating results, including gains or losses from dispositions, of all the operations which have been reclassified as discontinued operations in the consolidated statements of operations for the years ended December 31, 2012, 2011 and 2010 (in thousands, except per share data):
 
Year Ended December 31,
 
2012
 
2011
 
2010
Consumer loan and credit services fees
$
1,453

 
$
4,416

 
$
12,152

Consumer loan and credit services loss provision
(533
)
 
(979
)
 
(2,318
)
Net revenue
920

 
3,437

 
9,834

 
 
 
 
 
 
Expenses and other (gain) loss:
 
 
 
 
 
Operating and administrative expenses
1,076

 
2,051

 
4,060

Depreciation and amortization
26

 
64

 
133

Loss (gain) on disposition of consumer loan stores
966

 
(9,965
)
 
—

Gain on excess collections of notes receivable
—

 
(764
)
 
(3,102
)
Gain on sale of real estate
—

 
—

 
(293
)
Total expenses and other (gains)/losses
2,068

 
(8,614
)
 
798

Income (loss) from discontinued operations before income taxes
(1,148
)
 
12,051

 
9,036

Tax benefit (expense)
402

 
(4,792
)
 
(2,680
)
Income (loss) from discontinued operations, net of tax
$
(746
)
 
$
7,259

 
$
6,356

Income (loss) from discontinued operations (basic)
$
(0.03
)
 
$
0.23

 
$
0.21

Income (loss) from discontinued operations (diluted)
$
(0.03
)
 
$
0.23

 
$
0.21