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Discontinued Operations and Restructuring | 12 Months Ended
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Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations and Restructuring | NOTE 2: DISCONTINUED OPERATIONS AND RESTRUCTURING During the fourth quarter of 2015, in the context of a "transformational" change in strategy following an intensive six-month review of all Company activities, we implemented a plan that included:
• | Exiting our USFS business and ceasing the employment of the employees related to that business; and
• | Streamlining our structure and operating model to improve overall efficiency and reduce costs, which includes additional store closures, consolidations and relocations; additional headcount reductions in the remaining business and in the corporate support center; termination of various real property leases; and write-down and write-offs of various assets no longer to be used in the business.
Under the new strategy, we will (a) focus on growing our core pawn operations in the United States and Mexico and our Grupo Finmart business in Mexico and (b) simplify our operating structure by moving from a divisional to a functional business model. The costs of exiting of our USFS business are included in “Loss from discontinued operations, net of tax” and the cost of streamlining of our structure and operating model are included in “Restructuring” expenses in our consolidated statements of operations. Accrued charges are included under "Accounts payable and other accrued expenses" in our consolidated balance sheets. Discontinued Operations During the fourth quarter of fiscal 2015 we exited our USFS business as discussed above. During the fourth quarter of fiscal 2014, as part of our new strategy to concentrate on an integrated, customer-centric financial services model that is focused on our core businesses of pawn and unsecured payroll lending, we implemented a plan to exit our online lending businesses in the United States and the United Kingdom. As a result of this plan, our online lending operations in the United States (EZOnline) and in the United Kingdom (Cash Genie) have been included as discontinued operations. During the third quarter of fiscal 2013, we implemented a plan to close 107 legacy stores in a variety of locations. These stores were generally older, smaller stores that did not fit our future growth profile. The following table summarizes the pre-tax charges (gains), inclusive of the charges presented in the accrued lease termination costs, severance costs and other costs rollforward below, pertaining to the above discontinued operations:
| Fiscal Year Ended September 30,
| 2015 |  | 2014 |  | 2013
| (in thousands)
Goodwill impairment | $ | 10,550 |  |  | $ | 84,158 |  |  | $ | — |
Long-lived assets impairment | 1,685 |  |  | 11,795 |  |  | 5,605 |
Other (a) | 21,045 |  |  | 7,590 |  |  | 896 |
Asset disposals | 7,443 |  |  | 2,882 |  |  | 7,081 |
Lease termination costs | 1,720 |  |  | 1,504 |  |  | 8,608 |
Reversal of contingent consideration payable | — |  |  | (4,792 | ) |  | — |
| $ | 42,443 |  |  | $ | 103,137 |  |  | $ | 22,190 |
(a) | Includes estimated costs related to regulatory compliance, employee severance and accelerated amortization of prepaid expenses and other assets. The amount shown for fiscal 2015 includes a $10.5 million one-time charge associated with the settlement of outstanding issues with the U.S. Consumer Financial Protection Bureau (see Note 17) and a $4.0 million charge related to the resolution of regulatory compliance issues in our Cash Genie U.K online lending business, which is a part of fiscal 2014 discontinued operations.
Changes in the accrued amounts pertaining to the above charges are summarized as follows:
| Fiscal Year Ended September 30,
| 2015 |  | 2014 |  | 2013
| (in millions)
Beginning balance | $ | 8.9 |  |  | $ | 7.1 |  |  | $ | — |
Charged to expense | 10.6 |  |  | 9.1 |  |  | 8.7 |
Cash payments | (12.3 | ) |  | (4.0 | ) |  | (1.6 | )
Other (a) | (0.8 | ) |  | (3.3 | ) |  | — |
Ending balance | $ | 6.4 |  |  | $ | 8.9 |  |  | $ | 7.1 |
(a) | Includes adjustments due to foreign currency effects and other individually immaterial adjustments.
The remaining accrual is expected to be paid during fiscal 2016, at which time this initiative will be substantially complete. Total revenue included in “Loss from discontinued operations, net of tax” was $124.7 million, $188.8 million and $205.9 million during fiscal 2015, 2014 and 2013, respectively. Restructuring Fiscal 2015 During the fourth quarter of fiscal 2015 we streamlined our structure and operating model to improve overall efficiency and reduce costs included in our “transformational” change in strategy as discussed above. Restructuring charges related to this action are allocated to certain of our segments. See Note 19. The following table summarizes the pre-tax charges, inclusive of the charges presented in the changes in the balance of restructuring costs rollforward below, which have been recorded under “Restructuring” expense in our consolidated statements of operations:
| Fiscal Year Ended September 30,
| 2015
| (in thousands)
Long-lived assets impairment | $ | 2,346 |
Other (a) | 3,447 |
Asset disposals | 3,650 |
Lease termination costs | 7,637 |
| $ | 17,080 |
(a) | Includes costs related to employee severance and other.
Changes in the balance of these restructuring costs are summarized as follows:
| Fiscal Year Ended September 30,
| 2015
| (in thousands)
Beginning balance | $ | — |
Charged to expense | 9,469 |
Cash payments | (1,393 | )
Ending balance | $ | 8,076 |
We expect to amortize the accrued lease termination costs of $7.6 million into income ratably over the remaining lease terms through fiscal 2029. The remaining accrual is expected to be paid during fiscal 2016. Fiscal 2014 During the fourth quarter of fiscal 2014, we conducted a company-wide operational review to realign our organization to streamline operations and create synergies and efficiencies. The operational review resulted in the reduction of non-customer-facing overhead causing severance charges as presented below. Restructuring charges related to this action are considered corporate costs and therefore are not allocated to a specific segment. The remaining accrual is expected to be paid during fiscal 2016, at which time this initiative will be substantially complete. Changes in the balance of these restructuring costs are summarized as follows:
| Fiscal Year Ended September 30,
| 2015 |  | 2014
| (in thousands)
Beginning balance | $ | 6,121 |  |  | $ | — |
Charged to expense | 763 |  |  | 6,664 |
Cash payments | (3,983 | ) |  | (543 | )
Ending balance | $ | 2,901 |  |  | $ | 6,121 |
We continue to review the impact of these actions and will determine if, based on future operating results, additional actions to reduce operating expenses are necessary. The amount of any potential future charges for such actions will depend upon the nature, timing and extent of those actions.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760 + Details
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