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Condensed Consolidating Financial Information (Tables)

15 Months Ended

Dec. 31, 2011

Condensed Consolidating Financial Information [Abstract]

Condensed Consolidating Balance Sheet


		December 31, 2011
		(Unaudited)
		(In thousands)
		Parent				Subsidiary Guarantors				Other Subsidiaries				Eliminations				Consolidated
Assets:
Current assets:
Cash and cash equivalents		$	703			$	15,749			$	6,416			$	—			$	22,868
Pawn loans			—				140,386				9,674				—				150,060
Signature loans, net			—				10,386				2,290				—				12,676
Auto title loans, net			—				3,512				—				—				3,512
Pawn service charges receivable, net			—				27,061				1,532				—				28,593
Signature loan fees receivable, net			—				6,002				204				—				6,206
Auto title loan fees receivable, net			—				1,405				—				—				1,405
Inventory, net			—				90,175				10,144				—				100,319
Deferred tax asset			12,747				5,422				—				—				18,169
Receivable from affiliates			86,590				(86,590	)			—				—				—
Prepaid expenses and other assets			17				35,777				3,120				—				38,914

Total current assets			100,057				249,285				33,380				—				382,722

Investments in unconsolidated affiliates			68,204				49,616				—				—				117,820
Investments in subsidiaries			84,303				44,573				—				(128,876	)			—
Property and equipment, net			—				62,009				22,504				—				84,513
Goodwill			—				203,507				8,968				—				212,475
Other assets, net			2,038				22,484				3,827				—				28,349

Total assets		$	254,602			$	631,474			$	68,679			$	(128,876	)		$	825,879

Liabilities and stockholders’ equity:
Current liabilities:
Accounts payable and other accrued expenses		$	46			$	49,700			$	7,705			$	—			$	57,451
Customer layaway deposits			—				5,845				307				—				6,152
Intercompany payables			(219,474	)			193,339				26,145				(10	)			—
Income taxes payable			21,667				(5,156	)			(3,839	)			—				12,672

Total current liabilities			(197,761	)			243,728				30,318				(10	)			76,275

Long-term debt, less current maturities			40,500				—				—				—				40,500
Deferred tax liability			6,481				1,371				872				—				8,724
Deferred gains and other long-term liabilities			—				1,998				(1	)			—				1,997

Total liabilities			(150,780	)			247,097				31,189				(10	)			127,496

Commitments and contingencies

Stockholders’ equity:
Class A Non-voting Common Stock, par value $.01 per share;			464				12				—				(2	)			474
Class B Voting Common Stock, convertible, par value $.01 per share;			30				(1	)			1				—				30
Additional paid-in capital			221,534				100,431				50,818				(128,864	)			243,919
Retained earnings			180,299				285,039				(3,891	)							461,447
Accumulated other comprehensive income (loss)			3,055				(1,104	)			(9,438	)			—				(7,487	)

Total stockholders’ equity			405,382				384,377				37,490				(128,866	)			698,383

Total liabilities and stockholders’ equity		$	254,602			$	631,474			$	68,679			$	(128,876	)		$	825,879


		December 31, 2010
		(Unaudited)
		(In thousands)
		Parent				Subsidiary Guarantors				Other Subsidiaries				Eliminations				Consolidated
Assets:
Current assets:
Cash and cash equivalents		$	—			$	20,411			$	3,497			$	—			$	23,908
Pawn loans			—				117,583				6,805				—				124,388
Signature loans, net			—				10,451				1,502				—				11,953
Auto title loans, net			—				3,307				—				—				3,307
Pawn service charges receivable, net			—				23,045				1,023				—				24,068
Signature loan fees receivable, net			—				6,026				115				—				6,141
Auto title loan fees receivable, net			—				1,600				—				—				1,600
Inventory, net			—				71,874				5,803				—				77,677
Deferred tax asset			18,258				4,990								—				23,248
Receivable from affiliates			15,100				(15,100	)			—				—				—
Income taxes receivable			3,185				(3,185	)			—				—				—
Prepaid expenses and other assets			25				17,680				3,019				—				20,724

Total current assets			36,568				258,682				21,764				—				317,014

Investments in unconsolidated affiliates			63,275				45,684				—								108,959
Investments in subsidiaries			76,999				9,095				—				(86,094	)			—
Property and equipment, net			—				52,042				14,599				—				66,641
Deferred tax asset, non-current			1,121				(1,121	)			—				—				—
Goodwill			—				121,048				7,133				—				128,181
Other assets, net			118				21,985				2,149				—				24,252

Total assets		$	178,081			$	507,415			$	45,645			$	(86,094	)		$	645,047

Liabilities and stockholders’ equity:
Current liabilities:
Current maturities of long-term debt		$	10,000			$	—			$	—			$	—			$	10,000
Accounts payable and other accrued expenses			107				44,651				4,228				—				48,986
Customer layaway deposits			—				5,785				165				—				5,950
Intercompany payables			(237,528	)			203,963				33,515				50				—
Income taxes payable			13,107				(5,153	)			(2,687	)			—				5,267

Total current liabilities			(214,314	)			249,246				35,221				50				70,203

Long-term debt, less current maturities			12,500				—				—				—				12,500
Deferred tax liability			1,590				18				11				—				1,619
Deferred gains and other long-term liabilities			—				2,418				1				—				2,419

Total liabilities			(200,224	)			251,682				35,233				50				86,741

Commitments and contingencies

Stockholders’ equity:
Class A Non-voting Common Stock, par value $.01 per share;			458				11				—								469
Class B Voting Common Stock, convertible, par value $.01 per share;			30				(1	)			1				—				30
Additional paid-in capital			213,952				86,641				15,340				(86,144	)			229,789
Retained earnings			160,665				169,597				(2,897	)			—				327,365
Accumulated other comprehensive income (loss)			3,200				(515	)			(2,032	)			—				653

Total stockholders’ equity			378,305				255,733				10,412				(86,144	)			558,306

Total liabilities and stockholders’ equity		$	178,081			$	507,415			$	45,645			$	(86,094	)		$	645,047


		September 30, 2011
		(Unaudited)
		(In thousands)
		Parent				Subsidiary Guarantors				Other Subsidiaries				Eliminations				Consolidated
Assets:
Current assets:
Cash and cash equivalents		$	—			$	20,860			$	3,109			$	—			$	23,969
Pawn loans			—				134,457				10,861				—				145,318
Signature loans, net			—				9,304				2,085				—				11,389
Auto title loans, net			—				3,222				—				—				3,222
Pawn service charges receivable, net			—				24,792				1,663				—				26,455
Signature loan fees receivable, net			—				5,215				133				—				5,348
Auto title loan fees receivable, net			—				1,427				—				—				1,427
Inventory, net			—				81,277				9,096				—				90,373
Deferred tax asset			12,728				5,397				—				—				18,125
Receivable from affiliates			66,450				(66,450	)			—				—				—
Income taxes receivable			—				—				—				—				—
Prepaid expenses and other assets			29				25,976				4,606				—				30,611

Total current assets			79,207				245,477				31,553				—				356,237

Investments in unconsolidated affiliates			71,958				48,361				—				—				120,319
Investments in subsidiaries			84,303				44,323				—				(128,626	)			—
Property and equipment, net			—				59,434				19,064				—				78,498
Deferred tax asset, non-current			—				—				—				—				—
Goodwill			—				163,897				9,309				—				173,206
Other assets, net			2,147				22,219				3,822				2				28,190

Total assets		$	237,615			$	583,711			$	63,748			$	(128,624	)		$	756,450

Current liabilities:
Accounts payable and other accrued expenses		$	13			$	50,871			$	6,516			$	—			$	57,400
Customer layaway deposits			—				5,711				465				—				6,176
Intercompany payables			(199,190	)			178,375				20,761				54				—
Income taxes payable			9,552				(5,150	)			(3,709	)			—				693

Total current liabilities			(189,625	)			229,807				24,033				54				64,269

Long-term debt, less current maturities			17,500				—				—				—				17,500
Deferred tax liability			5,940				1,563				828				—				8,331
Deferred gains and other long-term liabilities			—				2,102				—				—				2,102

Total liabilities			(166,185	)			233,472				24,861				54				92,202

Commitments and contingencies

Stockholders’ equity:
Class A Non-voting Common Stock, par value $.01 per share;			461				12				—				(2	)			471
Class B Voting Common Stock; convertible, par value $.01 per share;			30				(1	)			1				—				30
Additional paid-in capital			221,526				98,980				50,568				(128,676	)			242,398
Retained earnings			174,860				251,418				(4,183	)			—				422,095
Accumulated other comprehensive income (loss)			6,923				(170	)			(7,499	)			—				(746	)

Total stockholders’ equity			403,800				350,239				38,887				(128,678	)			664,248

Total liabilities and stockholders’ equity		$	237,615			$	583,711			$	63,748			$	(128,624	)		$	756,450

Condensed Consolidated Statements of Income


		Three Months Ended December 31, 2011
		(Unaudited)
		(In thousands)
		Parent				Subsidiary Guarantors				Other Subsidiaries				Eliminations				Consolidated
Revenues:
Sales		$	—			$	128,546			$	14,751			$	—			$	143,297
Pawn service charges			—				54,370				5,422				—				59,792
Signature loan fees			—				36,950				2,671				—				39,621
Auto title loan fees			—				5,467				—				—				5,467
Other			20,139				850				318				(20,611	)			696

Total revenues			20,139				226,183				23,162				(20,611	)			248,873

Cost of goods sold			—				76,121				7,699				—				83,820
Signature loan bad debt			—				9,267				834				—				10,101
Auto title loan bad debt			—				924				—				—				924

Net revenues			20,139				139,871				14,629				(20,611	)			154,028

Operating Expenses:
Operations			—				65,009				9,492				—				74,501
Administrative			—				17,688				2,495				(472	)			19,711
Depreciation and amortization			—				4,147				1,108				—				5,255
(Gain) / loss on sale or disposal of assets			—				(224	)			23				—				(201	)

Total operating expenses			—				86,620				13,118				(472	)			99,266

Operating income			20,139				53,251				1,511				(20,139	)			54,762

Interest income			—				(9	)			(38	)			8				(39	)
Interest expense			(1,873	)			2,462				9				(8	)			590
Equity in net income of unconsolidated affiliates			(2,336	)			(1,825	)			—				—				(4,161	)
Other			—				(1,137	)			18				—				(1,119	)

Income before income taxes			24,348				53,760				1,522				(20,139	)			59,491
Income tax expense			18,909				20,139				1,230				(20,139	)			20,139

Net income		$	5,439			$	33,621			$	292			$	—			$	39,352


		Three Months Ended December 31, 2010
		(Unaudited)
		(In thousands)
		Parent				Subsidiary Guarantors				Other Subsidiaries				Eliminations				Consolidated
Revenues:
Sales		$	—			$	113,353			$	9,192			$	—			$	122,545
Pawn service charges			—				46,436				3,374				—				49,810
Signature loan fees			—				38,468				1,598				—				40,066
Auto title loan fees			—				6,244				—				—				6,244
Other			15,100				148				13				(15,100	)			161

Total revenues			15,100				204,649				14,177				(15,100	)			218,826

Cost of goods sold			—				67,752				5,814				—				73,566
Signature loan bad debt			—				9,484				562				—				10,046
Auto title loan bad debt			—				982				—				—				982

Net revenues			15,100				126,431				7,801				(15,100	)			134,232

Operating Expenses:
Operations			—				58,260				6,244				—				64,504
Administrative			—				25,203				935				—				26,138
Depreciation and amortization			—				3,427				752				—				4,179
(Gain) / loss on sale or disposal of assets			—				(6	)			13				—				7

Total operating expenses			—				86,884				7,944				—				94,828

Operating income			15,100				39,547				(143	)			(15,100	)			39,404

Interest income			—				(63	)			—				60				(3	)
Interest expense			(2,311	)			2,610				61				(60	)			300
Equity in net income of unconsolidated affiliates			(1,678	)			(1,689	)			—				—				(3,367	)
Other			—				(60	)			(1	)			—				(61	)

Income before income taxes			19,089				38,749				(203	)			(15,100	)			42,535
Income tax expense			14,753				15,106				347				(15,100	)			15,106

Net income		$	4,336			$	23,643			$	(550	)		$	—			$	27,429

Condensed consolidated Statement of cash flows


		Three Months Ended December 31, 2011
		(In thousands)
		Parent				Subsidiary Guarantors				Other Subsidiaries				Consolidated
Operating Activities:
Net income			5,439				33,621				292				39,352
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			—				4,147				1,108				5,255
Signature loan and auto title loan loss provisions			—				3,193				842				4,035
Deferred taxes			522				(191	)			(74	)			257
Net loss/(gain) on sale or disposal of assets			—				(224	)			23				(201	)
Stock compensation			—				1,513				—				1,513
Income from investments in unconsolidated affiliates			(2,336	)			(1,825	)			—				(4,161	)
Changes in operating assets and liabilities, net of business acquisitions:
Service charges and fees receivable, net			—				(2,389	)			(3	)			(2,392	)
Inventory, net			—				(1,353	)			(256	)			(1,609	)
Prepaid expenses, other current assets, and other assets, net			(20,019	)			10,632				1,200				(8,187	)
Accounts payable and accrued expenses			(19,712	)			11,722				4,297				(3,693	)
Customer layaway deposits			—				(766	)			2,631				1,865
Deferred gains and other long-term liabilities			—				(104	)			(12	)			(116	)
Excess tax benefit from stock compensation			—				(460	)			—				(460	)
Income taxes			12,115				454				(285	)			12,284

Net cash provided by/(used in) operating activities		$	(23,991	)		$	57,970			$	9,763			$	43,742

Investing Activities:
Loans made			—				(154,584	)			(28,173	)			(182,757	)
Loans repaid			—				89,880				21,108				110,988
Recovery of pawn loan principal through sale of forfeited collateral			—				55,885				5,816				61,701
Additions to property and equipment			—				(5,304	)			(4,644	)			(9,948	)
Acquisitions, net of cash acquired			—				(48,958	)			(441	)			(49,399	)
Dividends from unconsolidated affiliates			2,222				—				—				2,222

Net cash used in investing activities		$	2,222			$	(63,081	)		$	(6,334	)		$	(67,193	)

Financing Activities:
Stock issuance costs related to acquisitions			460				—				—				460
Taxes paid related to net share settlement of equity awards			(988	)			—				—				(988	)
Proceeds on revolving line of credit			116,500				—				—				116,500
Payments on revolving line of credit			(93,500	)			—				—				(93,500	)

Net cash used in financing activities		$	22,472			$	—			$	—			$	22,472
Effect of exchange rate changes on cash and cash equivalents			—				—				(122	)			(122	)

Net (decrease) increase in cash and cash equivalents			703				(5,111	)			3,307				(1,101	)
Cash and cash equivalents at beginning of period			—				20,860				3,109				23,969

Cash and cash equivalents at end of period		$	703			$	15,749			$	6,416			$	22,868


		Three Months Ended December 31, 2010
		(In thousands)
		Parent				Subsidiary Guarantors				Other Subsidiaries				Consolidated
Operating Activities:
Net income		$	4,336			$	23,643			$	(550	)			27,429
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			—				3,427				752				4,179
Signature loan and auto title loan loss provisions			—				3,643				491				4,134
Deferred taxes			1,641				(186	)			164				1,619
(Gain) / loss on sale or disposal of assets			—				7				—				7
Stock compensation			—				8,548				—				8,548
Income from investments in unconsolidated affiliates			(1,678	)			(1,689	)			—				(3,367	)
Changes in operating assets and liabilities, net of business acquisitions:
Service charges and fees receivable, net			—				(2,437	)			16				(2,421	)
Inventory, net			—				(1,521	)			(159	)			(1,680	)
Prepaid expenses, other current assets, and other assets, net			(15,020	)			11,752				(507	)			(3,775	)
Accounts payable and accrued expenses			13,461				(18,852	)			4,572				(819	)
Customer layaway deposits			—				(227	)			(5	)			(232	)
Deferred gains and other long-term liabilities			—				(107	)			—				(107	)
Excess tax benefit from stock compensation			—				(3,065	)			—				(3,065	)
Income taxes			2,076				3,059				(463	)			4,672

Net cash provided by operating activities		$	4,816			$	25,995			$	4,311			$	35,122

Investing Activities:
Loans made			—				(133,938	)			(18,825	)			(152,763	)
Loans repaid			—				78,297				13,043				91,340
Recovery of pawn loan principal through sale of forfeited collateral			—				46,072				4,678				50,750
Additions to property and equipment			—				(6,177	)			(1,756	)			(7,933	)
Acquisitions, net of cash acquired			—				(13,700	)			—				(13,700	)
Dividends from unconsolidated affiliates			1,811				—				—				1,811

Net cash used in investing activities		$	1,811			$	(29,446	)		$	(2,860	)		$	(30,495	)

Financing Activities:
Proceeds from exercise of stock options			204				—				—				204
Excess tax benefit from stock compensation			3,065				—				—				3,065
Taxes paid related to net share settlement of equity awards			(7,396	)			—				—				(7,396	)
Proceeds on revolving line of credit			15,000				—				—				15,000
Payments on revolving line of credit			(15,000	)			—				—				(15,000	)
Payments on bank borrowings			(2,500	)			—				—				(2,500	)

Net cash used in financing activities		$	(6,627	)		$	—			$	—			$	(6,627	)

Effect of exchange rate changes on cash and cash equivalents			—				—				54				54

Net (decrease) increase in cash and cash equivalents			—				(3,451	)			1,505				(1,946	)
Cash and cash equivalents at beginning of period			—				23,862				1,992				25,854

Cash and cash equivalents at end of period		$	—			$	20,411			$	3,497			$	23,908