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Corrections and Revisions to Prior Period Financial Statements (Tables) | 12 Months Ended
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Sep. 30, 2016
Accounting Changes and Error Corrections [Abstract] |
Schedule of prior period adjustments | The following tables show the impact of the foregoing.
EZCORP, Inc. CONSOLIDATED BALANCE SHEET (in thousands, except share and per share amounts)
| September 30, 2015
| As Previously Reported |  | Corrections of Errors |  | Discontinued Operations |  | Other |  | As Corrected and Reclassified
Assets: |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 59,124 |  |  | $ | — |  |  | $ | (2,880 | ) |  | $ | — |  |  | $ | 56,244 |
Restricted cash | 15,137 |  |  | — |  |  | (14,993 | ) |  | (144 | ) |  | — |
Pawn loans | 159,964 |  |  | — |  |  | — |  |  | — |  |  | 159,964 |
Consumer loans, net | 36,533 |  |  | — |  |  | (31,824 | ) |  | (4,709 | ) |  | — |
Pawn service charges receivable, net | 30,852 |  |  | — |  |  | — |  |  | — |  |  | 30,852 |
Consumer loan fees and interest receivable, net | 19,802 |  |  | — |  |  | (19,105 | ) |  | (697 | ) |  | — |
Inventory, net | 124,084 |  |  | — |  |  | — |  |  | — |  |  | 124,084 |
Deferred tax asset, net | 44,134 |  |  | — |  |  | — |  |  | (44,134 | ) |  | — |
Prepaid income taxes | 7,945 |  |  | (7,945 | ) |  | — |  |  | — |  |  | — |
Income taxes receivable | 37,230 |  |  | 7,499 |  |  | (2,498 | ) |  | — |  |  | 42,231 |
Current assets held for sale | — |  |  | — |  |  | 72,849 |  |  | — |  |  | 72,849 |
Prepaid expenses and other current assets | 21,076 |  |  | — |  |  | (1,549 | ) |  | 5,550 |  |  | 25,077 |
Total current assets | 555,881 |  |  | (446 | ) |  | — |  |  | (44,134 | ) |  | 511,301 |
Investment in unconsolidated affiliate | 56,182 |  |  | — |  |  | — |  |  | — |  |  | 56,182 |
Property and equipment, net | 75,594 |  |  | — |  |  | (1,656 | ) |  | — |  |  | 73,938 |
Restricted cash, non-current | 2,883 |  |  | — |  |  | (2,883 | ) |  | — |  |  | — |
Goodwill | 327,460 |  |  | 3,319 |  |  | (79,133 | ) |  | — |  |  | 251,646 |
Intangible assets, net | 50,434 |  |  | — |  |  | (10,485 | ) |  | (9,171 | ) |  | 30,778 |
Non-current consumer loans, net | 75,824 |  |  | — |  |  | (75,824 | ) |  | — |  |  | — |
Deferred tax asset, net | 24,987 |  |  | (16,942 | ) |  | (18,003 | ) |  | 44,134 |  |  | 34,176 |
Non-current assets held for sale | — |  |  | — |  |  | 217,233 |  |  | — |  |  | 217,233 |
Other assets, net | 42,985 |  |  | — |  |  | (29,249 | ) |  | — |  |  | 13,736 |
Total assets | $ | 1,212,230 |  |  | $ | (14,069 | ) |  | $ | — |  |  | $ | (9,171 | ) |  | $ | 1,188,990 |
Liabilities, temporary equity and equity: |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Current maturities of long-term debt | $ | 74,345 |  |  | $ | — |  |  | $ | (74,345 | ) |  | $ | — |  |  | $ | — |
Accounts payable, accrued expenses and other current liabilities | 107,871 |  |  | (396 | ) |  | (12,984 | ) |  | 15,384 |  |  | 109,875 |
Current liabilities held for sale | — |  |  | — |  |  | 87,329 |  |  | — |  |  | 87,329 |
Other current liabilities | 15,384 |  |  | — |  |  | — |  |  | (15,384 | ) |  | — |
Customer layaway deposits | 10,470 |  |  | — |  |  | — |  |  | — |  |  | 10,470 |
Total current liabilities | 208,070 |  |  | (396 | ) |  | — |  |  | — |  |  | 207,674 |
Long-term debt, net | 306,337 |  |  | — |  |  | (99,190 | ) |  | (9,171 | ) |  | 197,976 |
Non-current liabilities held for sale | — |  |  | — |  |  | 101,644 |  |  | — |  |  | 101,644 |
Deferred gains and other long-term liabilities | 6,157 |  |  | 6,226 |  |  | (2,454 | ) |  | — |  |  | 9,929 |
Total liabilities | 520,564 |  |  | 5,830 |  |  | — |  |  | (9,171 | ) |  | 517,223 |
Commitments and contingencies |  |  |  |  |  |  |  |  |
Temporary equity: |  |  |  |  |  |  |  |  |
Class A Non-voting Common Stock, subject to possible redemption at $10.06 per share; 1,168,456 shares issued and outstanding at redemption value as of September 30, 2015 | 11,696 |  |  | — |  |  | — |  |  | — |  |  | 11,696 |
Redeemable noncontrolling interest | 3,235 |  |  | 805 |  |  | — |  |  | — |  |  | 4,040 |
Total temporary equity | 14,931 |  |  | 805 |  |  | — |  |  | — |  |  | 15,736 |
Stockholders’ equity: |  |  |  |  |  |  |  |  |
Class A Non-voting Common Stock, par value $.01 per share; shares authorized: 100 million as of September 30, 2015; issued and outstanding: 50,726,289 as of September 30, 2015 | 507 |  |  | — |  |  | — |  |  | — |  |  | 507 |
Class B Voting Common Stock, convertible, par value $.01 per share; 3 million shares authorized; issued and outstanding: 2,970,171 | 30 |  |  | — |  |  | — |  |  | — |  |  | 30 |
Additional paid-in capital | 307,080 |  |  | 2,958 |  |  | — |  |  | — |  |  | 310,038 |
Retained earnings | 423,137 |  |  | (22,585 | ) |  | — |  |  | — |  |  | 400,552 |
Accumulated other comprehensive loss | (54,019 | ) |  | (1,077 | ) |  | — |  |  | — |  |  | (55,096 | )
EZCORP, Inc. stockholders’ equity | 676,735 |  |  | (20,704 | ) |  | — |  |  | — |  |  | 656,031 |
Total liabilities, temporary equity and equity | $ | 1,212,230 |  |  | $ | (14,069 | ) |  | $ | — |  |  | $ | (9,171 | ) |  | $ | 1,188,990 |
EZCORP, Inc. CONSOLIDATED STATEMENT OF OPERATIONS
| Fiscal Year Ended September 30, 2015
| As Previously Reported |  | Corrections of Errors |  | Discontinued Operations |  | Other |  | As Corrected and Reclassified
| (in thousands, except per share amounts)
Revenues: |  |  |  |  |  |  |  |  |
Merchandise sales | $ | 402,118 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 402,118 |
Jewelry scrapping sales | 57,973 |  |  | — |  |  | — |  |  | — |  |  | 57,973 |
Pawn service charges | 247,204 |  |  | — |  |  | — |  |  | — |  |  | 247,204 |
Consumer loan fees and interest | 78,066 |  |  | — |  |  | (68,114 | ) |  | (9,952 | ) |  | — |
Other revenues | 3,008 |  |  | — |  |  | (255 | ) |  | 9,952 |  |  | 12,705 |
Total revenues | 788,369 |  |  | — |  |  | (68,369 | ) |  | — |  |  | 720,000 |
Merchandise cost of goods sold | 267,789 |  |  | — |  |  | — |  |  | — |  |  | 267,789 |
Jewelry scrapping cost of goods sold | 46,066 |  |  | — |  |  | — |  |  | — |  |  | 46,066 |
Consumer loan bad debt | 29,571 |  |  | — |  |  | (26,446 | ) |  | (3,125 | ) |  | — |
Other cost of revenues | — |  |  | — |  |  | — |  |  | 3,125 |  |  | 3,125 |
Net revenues | 444,943 |  |  | — |  |  | (41,923 | ) |  | — |  |  | 403,020 |
Operating expenses: |  |  |  |  |  |  |  |  |
Operations | 327,603 |  |  | — |  |  | (32,664 | ) |  | — |  |  | 294,939 |
Administrative | 72,986 |  |  | — |  |  | — |  |  | — |  |  | 72,986 |
Depreciation and amortization | 33,543 |  |  | — |  |  | (2,584 | ) |  | — |  |  | 30,959 |
Loss on sale or disposal of assets | 2,659 |  |  | — |  |  | — |  |  | — |  |  | 2,659 |
Restructuring | 17,080 |  |  | — |  |  | — |  |  | — |  |  | 17,080 |
Total operating expenses | 453,871 |  |  | — |  |  | (35,248 | ) |  | — |  |  | 418,623 |
Operating loss | (8,928 | ) |  | — |  |  | (6,675 | ) |  | — |  |  | (15,603 | )
Interest expense | 42,202 |  |  | — |  |  | (25,817 | ) |  | — |  |  | 16,385 |
Interest income | (1,608 | ) |  | — |  |  | 1,330 |  |  | — |  |  | (278 | )
Loss from investments in unconsolidated affiliates | 5,473 |  |  | — |  |  | — |  |  | — |  |  | 5,473 |
Impairment of investments | 29,237 |  |  | (2,400 | ) |  | — |  |  | — |  |  | 26,837 |
Other expense | 6,611 |  |  | — |  |  | (4,424 | ) |  | — |  |  | 2,187 |
Loss from continuing operations before income taxes | (90,843 | ) |  | 2,400 |  |  | 22,236 |  |  | — |  |  | (66,207 | )
Income tax benefit | (26,695 | ) |  | 5,163 |  |  | 7,507 |  |  | — |  |  | (14,025 | )
Loss from continuing operations, net of tax | (64,148 | ) |  | (2,763 | ) |  | 14,729 |  |  | — |  |  | (52,182 | )
Loss from discontinued operations, net of tax | (27,316 | ) |  | — |  |  | (14,729 | ) |  | — |  |  | (42,045 | )
Net loss | (91,464 | ) |  | (2,763 | ) |  | — |  |  | — |  |  | (94,227 | )
Net loss attributable to noncontrolling interest | (5,015 | ) |  | (20 | ) |  | — |  |  | — |  |  | (5,035 | )
Net loss attributable to EZCORP, Inc. | $ | (86,449 | ) |  | $ | (2,743 | ) |  | $ | — |  |  | $ | — |  |  | $ | (89,192 | )
Basic loss per share attributable to EZCORP, Inc.: |  |  |  |  |  |  |  |  |
Continuing operations | $ | (1.09 | ) |  | $ | (0.05 | ) |  | $ | 0.20 |  |  | $ | — |  |  | $ | (0.94 | )
Discontinued operations | (0.50 | ) |  | — |  |  | (0.20 | ) |  | — |  |  | (0.70 | )
Basic loss per share | $ | (1.59 | ) |  | $ | (0.05 | ) |  | $ | — |  |  | $ | — |  |  | $ | (1.64 | )
Diluted loss per share attributable to EZCORP, Inc.: |  |  |  |  |  |  |  |  |
Continuing operations | $ | (1.09 | ) |  | $ | (0.05 | ) |  | $ | 0.20 |  |  | $ | — |  |  | $ | (0.94 | )
Discontinued operations | (0.50 | ) |  | — |  |  | (0.20 | ) |  | — |  |  | (0.70 | )
Diluted loss per share | $ | (1.59 | ) |  | $ | (0.05 | ) |  | $ | — |  |  | $ | — |  |  | $ | (1.64 | )
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |
Basic | 54,369 |  |  | — |  |  | — |  |  | — |  |  | 54,369 |
Diluted | 54,369 |  |  | — |  |  | — |  |  | — |  |  | 54,369 |
Loss from continuing operations attributable to EZCORP, Inc. | $ | (59,133 | ) |  | $ | (2,743 | ) |  | $ | 10,578 |  |  | $ | — |  |  | $ | (51,298 | )
Loss from discontinued operations attributable to EZCORP, Inc. | (27,316 | ) |  | — |  |  | (10,578 | ) |  | — |  |  | (37,894 | )
Net loss attributable to EZCORP, Inc. | $ | (86,449 | ) |  | $ | (2,743 | ) |  | $ | — |  |  | $ | — |  |  | $ | (89,192 | )
EZCORP, Inc. CONSOLIDATED STATEMENT OF OPERATIONS
| Fiscal Year Ended September 30, 2014
| As Previously Reported |  | Corrections of Errors |  | Discontinued Operations |  | Other |  | As Corrected and Reclassified
| (in thousands, except per share amounts)
Revenues: |  |  |  |  |  |  |  |  |
Merchandise sales | $ | 388,022 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 388,022 |
Jewelry scrapping sales | 96,241 |  |  | — |  |  | — |  |  | — |  |  | 96,241 |
Pawn service charges | 248,378 |  |  | — |  |  | — |  |  | — |  |  | 248,378 |
Consumer loan fees and interest | 63,702 |  |  | — |  |  | (53,377 | ) |  | (10,325 | ) |  | — |
Other revenues | 3,949 |  |  | — |  |  | (1,145 | ) |  | 10,325 |  |  | 13,129 |
Total revenues | 800,292 |  |  | — |  |  | (54,522 | ) |  | — |  |  | 745,770 |
Merchandise cost of goods sold | 248,637 |  |  | — |  |  | — |  |  | — |  |  | 248,637 |
Jewelry scrapping cost of goods sold | 72,830 |  |  | — |  |  | — |  |  | — |  |  | 72,830 |
Consumer loan bad debt | 22,051 |  |  | — |  |  | (19,605 | ) |  | (2,446 | ) |  | — |
Other cost of revenues | — |  |  | — |  |  | — |  |  | 2,446 |  |  | 2,446 |
Net revenues | 456,774 |  |  | — |  |  | (34,917 | ) |  | — |  |  | 421,857 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Operations | 325,921 |  |  | — |  |  | (32,184 | ) |  | — |  |  | 293,737 |
Administrative | 79,944 |  |  | — |  |  | — |  |  | — |  |  | 79,944 |
Depreciation and amortization | 31,762 |  |  | — |  |  | (2,503 | ) |  | — |  |  | 29,259 |
Loss on sale or disposal of assets | (5,841 | ) |  | — |  |  | — |  |  | — |  |  | (5,841 | )
Restructuring | 6,664 |  |  | — |  |  | — |  |  | — |  |  | 6,664 |
Total operating expenses | 438,450 |  |  | — |  |  | (34,687 | ) |  | — |  |  | 403,763 |
Operating income | 18,324 |  |  | — |  |  | (230 | ) |  | — |  |  | 18,094 |
Interest expense | 28,389 |  |  | — |  |  | (20,478 | ) |  | — |  |  | 7,911 |
Interest income | (1,298 | ) |  | — |  |  | 999 |  |  | — |  |  | (299 | )
Income from investments in unconsolidated affiliates | (5,948 | ) |  | — |  |  | — |  |  | — |  |  | (5,948 | )
Impairment of investments | 7,940 |  |  | — |  |  | — |  |  | — |  |  | 7,940 |
Other expense | 480 |  |  | — |  |  | 121 |  |  | — |  |  | 601 |
Income (loss) from continuing operations before income taxes | (11,239 | ) |  | — |  |  | 19,128 |  |  | — |  |  | 7,889 |
Income tax expense (benefit) | (7,246 | ) |  | 3,956 |  |  | 7,741 |  |  | — |  |  | 4,451 |
Income (loss) from continuing operations, net of tax | (3,993 | ) |  | (3,956 | ) |  | 11,387 |  |  | — |  |  | 3,438 |
Loss from discontinued operations, net of tax | (68,093 | ) |  | 2,006 |  |  | (11,387 | ) |  | — |  |  | (77,474 | )
Net loss | (72,086 | ) |  | (1,950 | ) |  | — |  |  | — |  |  | (74,036 | )
Net loss attributable to noncontrolling interest | (7,387 | ) |  | 1,068 |  |  | — |  |  | — |  |  | (6,319 | )
Net loss attributable to EZCORP, Inc. | $ | (64,699 | ) |  | $ | (3,018 | ) |  | $ | — |  |  | $ | — |  |  | $ | (67,717 | )
Basic loss per share attributable to EZCORP, Inc.: |  |  |  |  |  |  |  |  |
Continuing operations | $ | 0.05 |  |  | $ | (0.08 | ) |  | $ | 0.11 |  |  | $ | — |  |  | $ | 0.08 |
Discontinued operations | (1.25 | ) |  | 0.03 |  |  | (0.11 | ) |  | — |  |  | (1.33 | )
Basic loss per share | $ | (1.20 | ) |  | $ | (0.05 | ) |  | $ | — |  |  | $ | — |  |  | $ | (1.25 | )
Diluted loss per share attributable to EZCORP, Inc.: |  |  |  |  |  |  |  |  |
Continuing operations | $ | 0.06 |  |  | $ | (0.09 | ) |  | $ | 0.11 |  |  | $ | — |  |  | $ | 0.08 |
Discontinued operations | (1.25 | ) |  | 0.03 |  |  | (0.11 | ) |  | — |  |  | (1.33 | )
Diluted loss per share | $ | (1.19 | ) |  | $ | (0.06 | ) |  | $ | — |  |  | $ | — |  |  | $ | (1.25 | )
Weighted average shares outstanding: |  |  |  |  |  |  |  |  |
Basic | 54,148 |  |  | — |  |  | — |  |  | — |  |  | 54,148 |
Diluted | 54,292 |  |  | — |  |  | — |  |  | — |  |  | 54,292 |
Income from continuing operations attributable to EZCORP, Inc. | $ | 3,394 |  |  | $ | (5,024 | ) |  | $ | 6,106 |  |  | $ | — |  |  | $ | 4,476 |
Loss from discontinued operations attributable to EZCORP, Inc. | (68,093 | ) |  | 2,006 |  |  | (6,106 | ) |  | — |  |  | (72,193 | )
Net loss attributable to EZCORP, Inc. | $ | (64,699 | ) |  | $ | (3,018 | ) |  | $ | — |  |  | $ | — |  |  | $ | (67,717 | )

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22663-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22644-107794 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22658-107794 + Details
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