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Condensed Consolidating Financial Information

3 Months Ended

Mar. 31, 2012

Condensed Consolidating Financial Information [Abstract]

Condensed Consolidating Financial Information

Note N: Condensed Consolidating Financial Information

On February 3, 2012, we filed with the United States Securities and Exchange Commission a “shelf” registration statement on Form S-3 registering the offer and sale of an indeterminate amount of a variety of securities, including debt securities. Unless otherwise indicated in connection with a particular offering of debt securities, each of our domestic subsidiaries will fully and unconditionally guarantee on a joint and several basis our payment obligations under such debt securities.

In accordance with Rule 3-10(d) of Regulation S-X, the following presents condensed consolidating financial information as of March 31, 2012 and 2011 and for the current and prior three and six-month periods then ended and as of September 30, 2011 for EZCORP, Inc. (the “Parent”), each of the Parent’s domestic subsidiaries (the “Subsidiary Guarantors”) on a combined basis and each of the Parent’s other subsidiaries (the “Other Subsidiaries”) on a combined basis. Eliminating entries presented are necessary to combine the groups of entities.

Condensed Consolidating Balance Sheets


	March 31, 2012
	(Unaudited)
	(In thousands)
	Parent		Subsidiary Guarantors			Other Subsidiaries			Eliminations			Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	703	$	28,899		$	17,897		$	—		$	47,499
Pawn loans, net		—		108,804			13,501			—			122,305
Consumer loans, net		—		11,910			12,088			—			23,998
Pawn service charges receivable, net		—		20,210			2,086			—			22,296
Consumer loan fees receivable, net		—		5,523			19,028			—			24,551
Inventory, net		—		75,872			12,019			—			87,891
Deferred tax asset		12,298		5,478			452			—			18,228
Receivable from affiliates		286,603		83,648			—			(370,251	)		—
Federal income tax receivable		1,172		415			804						2,391
Prepaid expenses and other assets		4		29,440			4,999			—			34,443

Total current assets		300,780		370,199			82,874			(370,251	)		383,602
Investments in unconsolidated affiliates		70,882		49,174			—			—			120,056
Investments in subsidiaries		94,795		89,576			—			(184,371	)		—
Property and equipment, net		—		66,331			28,715			—			95,046
Goodwill		42		213,894			106,756			—			320,692
Intangible assets, net		1,848		16,028			21,028						38,904
Non-current consumer loans, net		—		—			52,740			—			52,740
Other assets, net		—		6,822			11,307			—			18,129

Total assets	$	468,347	$	812,024		$	303,420		$	(554,622	)	$	1,029,169


Liabilities and stockholders’ equity:
Current liabilities:
Current maturitites of long-term debt	$	—	$	—		$	23,258		$	—		$	23,258
Accounts payable and other accrued expenses		46		50,570			25,250			—			75,866
Customer layaway deposits		—		6,551			642			—			7,193
Intercompany payables		19,791		305,685			44,775			(370,251	)		—
Federal income taxes payable		9,745		(5,156	)		(4,589	)		—			—

Total current liabilities		29,582		357,650			89,336			(370,251	)		106,317

Long-term debt, less current maturities		30,000		—			79,096			—			109,096
Deferred tax liability		6,422		1,304			1,781			—			9,507
Deferred gains and other long-term liabilities		—		1,989			12,434			—			14,423

Total liabilities		66,004		360,943			182,647			(370,251	)		239,343

Commitments and contingencies

Temporary equity:
Redeemable noncontrolling interest		—		—			34,108			—			34,108

Stockholders’ equity:
Class A Non-voting Common Stock, par value $.01 per share;		468		12			—			—			480
Class B Voting Common Stock, convertible, par value $.01 per share;		30		—			—			—			30
Additional paid-in capital		234,233		112,661			95,820			(184,371	)		258,343
Retained earnings		164,022		339,936			(5,250	)		—			498,708
Accumulated other comprehensive income (loss)		3,590		(1,528	)		(3,905	)		—			(1,843	)

EZCORP, Inc. stockholders’ equity		402,343		451,081			86,665			(184,371	)		755,718

Total liabilities and stockholders’ equity	$	468,347	$	812,024		$	303,420		$	(554,622	)	$	1,029,169


	March 31, 2011
	(Unaudited)
	(In thousands)
	Parent			Subsidiary Guarantors			Other Subsidiaries			Eliminations			Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	—		$	57,196		$	2,589		$	—		$	59,785
Pawn loans, net		—			97,375			9,150			—			106,525
Consumer loans, net		—			10,224			1,724			—			11,948
Pawn service charges receivable, net		—			18,620			1,356			—			19,976
Consumer loan fees receivable, net		—			5,869			157			—			6,026
Inventory, net		—			63,169			7,106			—			70,275
Deferred tax asset		18,258			5,060			1			—			23,319
Receivable from affiliates		32,537			(32,537	)		—			—			—
Income taxes receivable		4,612			(3,185	)		—			—			1,427
Prepaid expenses and other assets		19			16,435			3,591			—			20,045

Total current assets		55,426			238,226			25,674			—			319,326
Investments in unconsolidated affiliates		67,581			44,783			—						112,364
Investments in subsidiaries		76,999			9,145			—			(86,144	)		—
Property and equipment, net		—			53,529			16,576			—			70,105
Goodwill		—			136,039			7,365			—			143,404
Intangible assets, net		22			15,032			1,068			—			16,122
Other assets, net		—			6,414			1,158			—			7,572

Total assets	$	200,028		$	503,168		$	51,841		$	(86,144	)	$	668,893

Liabilities and stockholders’ equity:
Current liabilities:
Current maturities of long-term debt	$	10,000		$	—		$	—		$	—		$	10,000
Accounts payable and other accrued expenses		95			40,101			4,558			—			44,754
Customer layaway deposits		—			6,509			335			—			6,844
Intercompany payables		(213,239	)		173,476			39,763			—			—
Income taxes payable		8,494			(5,142	)		(3,352	)		—			—

Total current liabilities		(194,650	)		214,944			41,304			—			61,598
Long-term debt, less current maturities		10,000			—			—			—			10,000
Deferred tax liability		(3	)		1,184			11			—			1,192
Deferred gains and other long-term liabilities		—			2,313			1			—			2,314

Total liabilities		(184,653	)		218,441			41,316			—			75,104
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		213,948			88,119			15,340			(86,144	)		231,263
Retained earnings		165,493			197,880			(4,170	)					359,203
Accumulated other comprehensive income (loss)		4,752			(1,282	)		(646	)		—			2,824

Total stockholders’ equity		384,681			284,727			10,525			(86,144	)		593,789

Total liabilities and stockholders’ equity	$	200,028		$	503,168		$	51,841		$	(86,144	)	$	668,893


	September 30, 2011
	(Unaudited)
	(In thousands)
	Parent			Guarantors			Subsidiaries			Eliminations			Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	—		$	20,860		$	3,109		$	—		$	23,969
Pawn loans, net		—			134,457			10,861			—			145,318
Consumer loans, net		—			12,526			2,085			—			14,611
Pawn service charges receivable, net		—			24,792			1,663			—			26,455
Consumer loan fees receivable, net		—			6,642			133			—			6,775
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
Intangible assets, net		2,147			15,183			2,460						19,790
Other assets, net		—			7,036			1,362			2			8,400

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 Consolidating Statements of Operations


	Three Months Ended March 31, 2012
	(Unaudited)
	(In thousands)
	Parent			Subsidiary Guarantors			Other Subsidiaries			Eliminations			Consolidated
Revenues:
Sales	$	—		$	133,772		$	14,400		$	—		$	148,172
Pawn service charges		—			50,505			5,939			—			56,444
Consumer loan fees		—			40,233			10,086			—			50,319
Other revenues		—			985			358			—			1,343

Total revenues		—			225,495			30,783			—			256,278

Cost of goods sold		—			79,390			8,800			—			88,190
Consumer loan bad debt		—			5,310			1,156			—			6,466

Net revenues		—			140,795			20,827			—			161,622

Operating expenses:
Operations		—			65,259			12,010			—			77,269
Administrative		—			17,133			4,220			—			21,353
Depreciation and amortization		—			4,447			2,812			—			7,259
Loss on sale or disposal of assets		—			2			25			—			27

Total operating expenses		—			86,841			19,067			—			105,908

Operating income		—			53,954			1,760			—			55,714

Interest income		(3,525	)		(376	)		(119	)		3,706			(314	)
Interest expense		3,129			1,065			2,072			(3,706	)		2,560
Equity in net income of unconsolidated affiliates		(2,142	)		(2,435	)		—			—			(4,577	)
Other		—			803			(1	)		—			802

Income before income taxes		2,538			54,897			(192	)		—			57,243
Income tax expense		18,815			—			1,055			—			19,870

Net income		(16,277	)		54,897			(1,247	)		—			37,373
Net income attributable to redeemable noncontrolling interest		—			—			112			—			112

Net income attributable to EZCORP, Inc.	$	(16,277	)	$	54,897		$	(1,359	)	$	—		$	37,261


	Three Months Ended March 31, 2011
	(Unaudited)
	(In thousands)
	Parent			Subsidiary Guarantors			Other Subsidiaries			Eliminations			Consolidated
Revenues:
Sales	$	—		$	116,514		$	9,254		$	—		$	125,768
Pawn service charges		—			43,073			3,696			—			46,769
Consumer loan fees		—			38,498			1,974			—			40,472
Other revenues		17,437			206			39			(17,437	)		245

Total revenues		17,437			198,291			14,963			(17,437	)		213,254

Cost of goods sold		—			70,196			6,368			—			76,564
Consumer loan bad debt		—			5,098			642			—			5,740

Net revenues		17,437			122,997			7,953			(17,437	)		130,950

Operating expenses:
Operations		—			59,016			7,029			—			66,045
Administrative		—			14,515			1,218			—			15,733
Depreciation and amortization		—			3,621			845			—			4,466
(Gain) loss on sale or disposal of assets		—			(283	)		105			—			(178	)

Total operating expenses		—			76,869			9,197			—			86,066

Operating income		17,437			46,128			(1,244	)		(17,437	)		44,884

Interest income		(5,023	)		(74	)		—			5,086			(11	)
Interest expense		2,908			2,413			65			(5,086	)		300
Equity in net income of unconsolidated affiliates		(2,754	)		(1,937	)		—			—			(4,691	)
Other		—			(1	)		5			—			4

Income before income taxes		22,306			45,727			(1,314	)		(17,437	)		49,282
Income tax expense		17,478			17,444			(41	)		(17,437	)		17,444

Net income	$	4,828		$	28,283		$	(1,273	)	$	—		$	31,838


	Six Months Ended March 31, 2012
	(Unaudited)
	(In thousands)
	Parent			Subsidiary Guarantors			Other Subsidiaries			Eliminations			Consolidated
Revenues:
Sales	$	—		$	262,318		$	29,151		$	—		$	291,469
Pawn service charges		—			104,875			11,361			—			116,236
Consumer loan fees		—			82,650			12,757			—			95,407
Other revenues		20,139			1,835			676			(20,611	)		2,039

Total revenues		20,139			451,678			53,945			(20,611	)		505,151

Cost of goods sold		—			155,511			16,499			—			172,010
Consumer loan bad debt		—			15,501			1,990			—			17,491

Net revenues		20,139			280,666			35,456			(20,611	)		315,650

Operating expenses:
Operations		—			130,268			21,502			—			151,770
Administrative		—			34,821			6,715			(472	)		41,064
Depreciation and amortization		—			8,594			3,920			—			12,514
(Gain) loss on sale or disposal of assets		—			(222	)		48			—			(174	)

Total operating expenses		—			173,461			32,185			(472	)		205,174

Operating income		20,139			107,205			3,271			(20,139	)		110,476

Interest income		(3,525	)		(385	)		(157	)		3,714			(353	)
Interest expense		1,256			3,527			2,081			(3,714	)		3,150
Equity in net income of unconsolidated affiliates		(4,478	)		(4,260	)		—			—			(8,738	)
Other		—			(334	)		17			—			(317	)

Income before income taxes		26,886			108,657			1,330			(20,139	)		116,734
Income tax expense		37,724			20,139			2,285			(20,139	)		40,009

Net income		(10,838	)		88,518			(955	)		—			76,725
Net income attributable to redeemable noncontrolling interest		—			—			112			—			112

Net income attributable to EZCORP, Inc.	$	(10,838	)	$	88,518		$	(1,067	)	$	—		$	76,613


	Six Months Ended March 31, 2011
	(Unaudited)
	(In thousands)
	Parent			Subsidiary Guarantors			Other Subsidiaries			Eliminations			Consolidated
Revenues:
Sales	$	—		$	229,867		$	18,446		$	—		$	248,313
Pawn service charges		—			89,509			7,070			—			96,579
Consumer loan fees		—			83,210			3,572			—			86,782
Other revenues		32,537			354			52			(32,537	)		406

Total revenues		32,537			402,940			29,140			(32,537	)		432,080

Cost of goods sold		—			137,948			12,182			—			150,130
Consumer loan bad debt		—			15,564			1,204			—			16,768

Net revenues		32,537			249,428			15,754			(32,537	)		265,182

Operating expenses:
Operations		—			117,276			13,273			—			130,549
Administrative		—			39,718			2,153			—			41,871
Depreciation and amortization		—			7,048			1,597			—			8,645
(Gain) loss on sale or disposal of assets		—			(289	)		118			—			(171	)

Total operating expenses		—			163,753			17,141			—			180,894

Operating income		32,537			85,675			(1,387	)		(32,537	)		84,288

Interest income		(5,023	)		(137	)		—			5,146			(14	)
Interest expense		597			5,023			126			(5,146	)		600
Equity in net income of unconsolidated affiliates		(4,432	)		(3,626	)		—			—			(8,058	)
Other		—			(61	)		4			—			(57	)

Income before income taxes		41,395			84,476			(1,517	)		(32,537	)		91,817
Income tax expense		32,231			32,550			306			(32,537	)		32,550

Net income	$	9,164		$	51,926		$	(1,823	)	$	—		$	59,267

Condensed Consolidating Statement of Comprehensive Income


	Three Months Ended
	March 31, 2012
	Parent			Subsidiary Guarantors			Other Subsidiaries			Consolidated
	(In thousands)
Net income	$	(16,277	)	$	54,897		$	(1,247	)	$	37,373
Other comprehensive income (loss):
Foreign currency translation adjustments		822			(460	)		6,032			6,394
Unrealized holding loss arising during period		—			(179	)		—			(179	)
Income tax benefit (provision)		(288	)		213			—			(75	)

Other comprehensive income (loss), net of tax		534			(426	)		6,032			6,140

Comprehensive income	$	(15,743	)	$	54,471		$	4,785		$	43,513

Attributable to redeemable noncontrolling interest:
Net income		—			—			(112	)		(112	)
Foreign currency translation adjustments		—			—			(496	)		(496	)

Comprehensive income		—			—			(608	)		(608	)

Comprehensive income attributable to EZCORP, Inc.	$	(15,743	)	$	54,471		$	4,177		$	42,905


	Three Months Ended
	March 31, 2011
	Parent			Subsidiary Guarantors			Other Subsidiaries			Consolidated
	(In thousands)
Net income	$	4,828		$	28,283		$	(1,273	)	$	31,838
Other comprehensive income (loss):
Foreign currency translation adjustments		2,387			(662	)		1,386			3,111
Unrealized holding loss arising during period		—			(253	)		—			(253	)
Income tax provision		(835	)		148			—			(687	)

Other comprehensive income (loss), net of tax		1,552			(767	)		1,386			2,171

Comprehensive income	$	6,380		$	27,516		$	113		$	34,009

Attributable to redeemable noncontrolling interest:
Net income		—			—			—			—
Foreign currency translation adjustments		—			—			—			—

Comprehensive income		—			—			—			—

Comprehensive income attributable to EZCORP, Inc.	$	6,380		$	27,516		$	113		$	34,009


	Six Months Ended
	March 31, 2012
	Parent			Subsidiary Guarantors			Other Subsidiaries			Consolidated
	(In thousands)
Net income	$	(10,838	)	$	88,518		$	(955	)	$	76,725
Other comprehensive income (loss):
Foreign currency translation adjustments		(5,129	)		(1,337	)		4,092			(2,374	)
Unrealized holding loss arising during period		—			(738	)		—			(738	)
Income tax benefit		1,795			716			—			2,511

Other comprehensive income (loss), net of tax		(3,334	)		(1,359	)		4,092			(601	)

Comprehensive income	$	(14,172	)	$	87,159		$	3,137		$	76,124

Attributable to redeemable noncontrolling interest:
Net income		—			—			(112	)		(112	)
Foreign currency translation adjustments		—			—			(496	)		(496	)

Comprehensive income		—			—			(608	)		(608	)

Comprehensive income attributable to EZCORP, Inc.	$	(14,172	)	$	87,159		$	2,529		$	75,516


	Six Months Ended
	March 31, 2011
	Parent			Subsidiary Guarantors			Other Subsidiaries			Consolidated
	(In thousands)
Net Income	$	9,164		$	51,926		$	(1,823	)	$	59,267
Other comprehensive income (loss):
Foreign currency translation adjustments		10,309			673			1,906			12,888
Unrealized holding gains arising during period		—			238			—			238
Income tax provision		(3,608	)		(319	)		—			(3,927	)

Other comprehensive income, net of tax		6,701			592			1,906			9,199

Comprehensive income	$	15,865		$	52,518		$	83		$	68,466

Attributable to redeemable noncontrolling interest:
Net income		—			—			—			—
Foreign currency translation adjustments		—			—			—			—

Comprehensive income		—			—			—			—

Comprehensive income attributable to EZCORP, Inc.	$	15,865		$	52,518		$	83		$	68,466

Condensed Consolidating Statement of Cash Flows


	Six Months Ended March 31, 2012
	(In thousands)
	Parent			Subsidiary Guarantors			Other Subsidiaries			Consolidated
Operating Activities:
Net income (loss)	$	(10,838	)	$	88,518		$	(955	)	$	76,725
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		—			8,594			3,972			12,566
Consumer loan loss provisions		—			4,771			1,990			6,761
Deferred income taxes		912			(233	)		(751	)		(72	)
Net (gain) loss on sale or disposal of assets		—			(221	)		48			(173	)
Stock compensation		—			3,238			—			3,238
Income from investments in unconsolidated affiliates		(4,478	)		(4,260	)		—			(8,738	)
Changes in operating assets and liabilities, net of business acquisitions:
Service charges and fees receivable, net		—			6,704			(153	)		6,551
Inventory, net		—			2,056			(610	)		1,446
Prepaid expenses, other current assets, and other assets, net		282			(3,717	)		154			(3,281	)
Accounts payable and accrued expenses		(439	)		(68,273	)		67,891			(821	)
Customer layaway deposits		—			62			144			206
Deferred gains and other long-term liabilities		—			(282	)		(569	)		(851	)
Excess tax benefit from stock compensation		(1,521	)		—			—			(1,521	)
Income taxes receivable/payable		979			(2,379	)		1,125			(275	)

Net cash provided by (used in) operating activities	$	(15,103	)	$	34,578		$	72,286		$	91,761

Investing Activities:
Loans made		—			(293,161	)		(67,193	)		(360,354	)
Loans repaid		—			212,065			48,224			260,289
Recovery of pawn loan principal through sale of forfeited collateral		—			117,114			12,404			129,518
Additions to property and equipment		—			(13,749	)		(8,497	)		(22,246	)
Acquisitions, net of cash acquired		—			(51,374	)		(31,786	)		(83,160	)
Dividends from unconsolidated affiliates		2,222			2,566			—			4,788

Net cash provided by (used in) investing activities	$	2,222		$	(26,539	)	$	(46,848	)	$	(71,165	)

Financing Activities:
Proceeds from exercise of stock options		634			—			—			634
Excess tax benefit from stock compensation		1,521			—			—			1,521
Taxes paid related to net share settlement of equity awards		(1,071	)		—			—			(1,071	)
Proceeds from revolving line of credit		321,500			—			117			321,617
Payments on revolving line of credit		(309,000	)		—			(9,227	)		(318,227	)
Payments on bank borrowings		—			—			(1,056	)		(1,056	)

Net cash provided by (used in) financing activities	$	13,584		$	—		$	(10,166	)	$	3,418

Effect of exchange rate changes on cash and cash equivalents		—			—			(484	)		(484	)

Net increase in cash and cash equivalents		703			8,039			14,788			23,530
Cash and cash equivalents at beginning of period		—			20,860			3,109			23,969

Cash and cash equivalents at end of period	$	703		$	28,899		$	17,897		$	47,499


	Six Months Ended March 31, 2011
	(In thousands)
	Parent			Subsidiary Guarantors			Other Subsidiaries			Consolidated
Operating Activities:
Net income	$	9,164		$	51,926		$	(1,823	)		59,267
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		—			7,048			1,597			8,645
Consumer loan loss provisions		—			5,693			1,204			6,897
Deferred income taxes		983			—			—			983
Net (gain) loss on sale or disposal of assets		—			(289	)		116			(173	)
Stock compensation		—			10,028			—			10,028
Income from investments in unconsolidated affiliates		(4,432	)		(3,626	)		—			(8,058	)
Changes in operating assets and liabilities, net of business acquisitions:
Service charges and fees receivable, net		—			3,956			(314	)		3,642
Inventory, net		—			1,291			(431	)		860
Prepaid expenses, other current assets, and other assets, net		182			(1,739	)		(1,091	)		(2,648	)
Accounts payable and accrued expenses		8,190			(24,261	)		10,989			(5,082	)
Customer layaway deposits		—			473			155			628
Deferred gains and other long-term liabilities		—			(153	)		41			(112	)
Excess tax benefit from stock compensation		(3,072	)		—			—			(3,072	)
Income taxes receivable/payable		(3,694	)		2,807			(1,034	)		(1,921	)

Net cash provided by operating activities	$	7,321		$	53,154		$	9,409		$	69,884

Investing Activities:
Loans made		—			(250,574	)		(41,951	)		(292,525	)
Loans repaid		—			176,168			27,490			203,658
Recovery of pawn loan principal through sale of forfeited collateral		—			94,788			9,522			104,310
Additions to property and equipment		—			(11,143	)		(3,986	)		(15,129	)
Acquisitions, net of cash acquired		—			(31,461	)		—			(31,461	)
Dividends from unconsolidated affiliates		1,811			2,407			—			4,218

Net cash provided by (used in) investing activities	$	1,811		$	(19,815	)	$	(8,925	)	$	(26,929	)

Financing Activities:
Proceeds from exercise of stock options		205			—			—			205
Excess tax benefit from stock compensation		3,072			—			—			3,072
Taxes paid related to net share settlement of equity awards		(7,409	)		—			—			(7,409	)
Proceeds on revolving line of credit		11,500			—			—			11,500
Payments on revolving line of credit		(16,500	)		(5	)		—			(16,505	)

Net cash provided by (used in) financing activities	$	(9,132	)	$	(5	)	$	—		$	(9,137	)

Effect of exchange rate changes on cash and cash equivalents		—			—			113			113

Net (decrease) increase in cash and cash equivalents		—			33,334			597			33,931
Cash and cash equivalents at beginning of period		—			23,862			1,992			25,854

Cash and cash equivalents at end of period	$	—		$	57,196		$	2,589		$	59,785