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Quarterly Information (Unaudited)
12 Months Ended
Sep. 30, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information (Unaudited)
NOTE 18: QUARTERLY INFORMATION (UNAUDITED)
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
 
 
 
 
 
 
 
 
(in thousands, except per share amounts)
Year Ended September 30, 2015
 
 
 
 
 
 
 
Total revenues
$
212,724

 
$
205,190

 
$
181,621

 
$
188,834

Net revenues
117,056

 
113,570

 
107,988

 
106,329

(Loss) income from continuing operations, net of tax
2,801

 
(4,294
)
 
(1,401
)
 
(61,254
)
(Loss) income from discontinued operations, net of tax
6,877

 
4,731

 
(8,836
)
 
(30,088
)
Net (loss) income
9,678

 
437

 
(10,237
)
 
(91,342
)
Net loss from continuing operations attributable to redeemable noncontrolling interest
(1,934
)
 
(906
)
 
(390
)
 
(1,785
)
Net (loss) income attributable to EZCORP, Inc.
$
11,612


$
1,343


$
(9,847
)

$
(89,557
)
 
 
 
 
 
 
 
 
Basic (loss) earnings per share attributable to EZCORP, Inc.:
 
 
 
 
 
 
 
Continuing operations
$
0.09

 
$
(0.06
)
 
$
(0.01
)
 
$
(1.08
)
Discontinued operations
0.13

 
0.09

 
(0.16
)
 
(0.55
)
Basic (loss) earnings per share
$
0.22

 
$
0.03

 
$
(0.17
)
 
$
(1.63
)
 
 
 
 
 
 
 
 
Diluted (loss) earnings per share attributable to EZCORP, Inc.:
 
 
 
 
 
 
 
Continuing operations
$
0.09

 
$
(0.06
)
 
$
(0.01
)
 
$
(1.08
)
Discontinued operations
0.13

 
0.09

 
(0.16
)
 
(0.55
)
Diluted (loss) earnings per share
$
0.22

 
$
0.03

 
$
(0.17
)
 
$
(1.63
)
 
 
 
 
 
 
 
 
Year Ended September 30, 2014
 
 
 
 
 
 
 
Total revenues
$
210,345

 
$
205,179

 
$
188,117

 
$
196,651

Net revenues
121,386

 
117,256

 
110,517

 
107,615

(Loss) income from continuing operations, net of tax
10,091

 
(7,216
)
 
(1,568
)
 
(5,300
)
(Loss) income from discontinued operations, net of tax
6,843

 
11,805

 
3,161

 
(89,902
)
Net (loss) income
16,934

 
4,589

 
1,593

 
(95,202
)
Net loss from continuing operations attributable to redeemable noncontrolling interest
(1,796
)
 
(1,553
)
 
(2,337
)
 
(1,701
)
Net (loss) income attributable to EZCORP, Inc.
$
18,730

 
$
6,142

 
$
3,930

 
$
(93,501
)
 
 
 
 
 
 
 
 
Basic (loss) earnings per share attributable to EZCORP, Inc.:
 
 
 
 
 
 
 
Continuing operations
$
0.22

 
$
(0.10
)
 
$
0.01

 
$
(0.07
)
Discontinued operations
0.13

 
0.21

 
0.06

 
(1.68
)
Basic (loss) earnings per share
$
0.35


$
0.11

 
$
0.07


$
(1.75
)
 
 
 
 
 
 
 
 
Diluted (loss) earnings per share attributable to EZCORP, Inc.:
 
 
 
 
 
 
 
Continuing operations
$
0.22

 
$
(0.10
)
 
$
0.01

 
$
(0.07
)
Discontinued operations
0.12

 
0.21

 
0.06

 
(1.68
)
Diluted (loss) earnings per share
$
0.34


$
0.11

 
$
0.07

 
$
(1.75
)

Financial information in the table above has been adjusted to reflect reclassification of all discontinued operations. See Note 2 for further discussion of discontinued operations and restructuring plans.
We recorded total pre-tax charges of $42.4 million and $17.1 million pertaining to discontinued operations and restructuring, respectively, during the quarter ended September 30, 2015 as further discussed in Note 2.
We further recorded impairments in goodwill of $10.6 million pertaining to discontinued operations and $1.7 million pertaining to continuing operations during the quarters ended June 30, 2015 and September 30, 2015, respectively, as further discussed in Note 7.
During the fourth quarter of fiscal 2015, we recorded impairment charges of $4.3 million and $1.3 million related to long-lived assets of our U.S. Pawn and Mexico Pawn segments, respectively, as further discussed in Note 6.
During the fourth quarter of fiscal 2015, we recorded a $3.7 million impairment of internally developed software and other assets, as further discussed in Note 7, and a $29.2 million ($18.8 million, net of taxes) impairment in Cash Converters International, as further discussed in Note 5.
During the fourth quarter of fiscal 2015, our equity in net loss of unconsolidated affiliates included one-time after-tax charges of $5.4 million due to a contract termination, $3.7 million due to a class-action litigation settlement and $1.2 million due to impairments of goodwill and long-lived assets recorded by our unconsolidated affiliate.
We recorded total pre-tax charges of $103.1 million and $6.7 million pertaining to discontinued operations and restructuring, respectively, during the quarter ended September 30, 2014 as further discussed in Note 2.
We recorded an impairment of investments of $7.9 million in continuing operations during the quarter ended March 31, 2014 as further discussed in Note 5.
During the quarter ended December 31, 2013, we sold seven U.S. pawn stores (three in Louisiana, two in Mississippi, one in Alabama and one in Florida) for $11.0 million, of which $10.0 million was paid in cash and $1.0 million with a 14% promissory note due on December 31, 2018. The carrying value of the stores' net assets amounted to $3.7 million, primarily consisting of $1.5 million of pawn loans, $1.9 million of inventory, and $0.4 million of pawn service charge receivable, offset by $0.1 million of assumed liabilities. During the quarter ended December 31, 2013 we realized a gain of $6.3 million, which is included under "Loss (gain) on sale or disposal of assets" in the consolidated statements of operations. In addition, we recorded a deferred gain of $0.7 million. During the quarter ended March 31, 2014, we settled the promissory note for $0.9 million and realized the net deferred gain of $0.6 million which is included in our consolidated statements of operations for the quarter ended March 31, 2014.