XML 54 R36.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Fair Value Measurements, Derivatives and Other (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2016
Fair Value Disclosures [Abstract] |
Financial assets that are measured at fair value on a recurring basis | The tables below present our financial assets (liabilities) that were measured at fair value on a recurring basis as of September 30, 2016 and 2015:
|  | September 30, 2016 |  | Fair Value Measurements Using
Financial (liabilities) assets: | Level 1 |  | Level 2 |  | Level 3
|  | (in thousands)
Guarantee asset |  | $ | 1,209 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,209 |
Guarantee liability |  | (1,258 | ) |  | — |  |  | — |  |  | (1,258 | )
Convertible Notes Hedges |  | 37,692 |  |  | — |  |  | 37,692 |  |  | — |
Convertible Notes Embedded Derivative |  | (37,692 | ) |  | — |  |  | (37,692 | ) |  | — |
Net financial liabilities |  | $ | (49 | ) |  | $ | — |  |  | $ | — |  |  | $ | (49 | )
|  | September 30, 2015 |  | Fair Value Measurements Using
Financial assets (liabilities): | Level 1 |  | Level 2 |  | Level 3
|  | (in thousands)
Foreign currency forwards — discontinued operations* |  | $ | 14,169 |  |  | $ | — |  |  | $ | 14,169 |  |  | $ | — |
Holding Period Adjustment |  | 4 |  |  | — |  |  | 4 |  |  | — |
Cash Convertible Notes Hedges |  | 10,505 |  |  | — |  |  | 10,505 |  |  | — |
Cash Convertible Notes Embedded Derivative |  | (10,505 | ) |  | — |  |  | (10,505 | ) |  | — |
Phantom share-based awards |  | (3,932 | ) |  | — |  |  | — |  |  | (3,932 | )
Contingent consideration — discontinued operations* |  | (2,601 | ) |  | — |  |  |  |  | (2,601 | )
Net financial assets (liabilities) |  | $ | 7,640 |  |  | $ | — |  |  | $ | 14,173 |  |  | $ | (6,533 | )
* | See Note 1 for discussion of operations discontinued subsequent to the adoption of FASB ASU 2014-08.
Valuation techniques | The fair value of fiscal 2015 phantom share-based awards that were estimated using the Monte Carlo simulation model incorporated the closing share price of our Class A Common Stock on the date of grant (considered, for this purpose, to be October 1, 2014), as well as the following assumptions, which we consider to be Level 3 inputs under the fair value hierarchy:
Expected volatility of EZCORP, Inc. Class A Common Stock | 49.7 | %
Risk-free interest rate | 1.9 | %
Expected term in years | 6 |
Cost of equity | 11.5 | %
Dividend yield | — |
Financial assets and liabilities not measured at fair value in the consolidated balance sheet | Our financial assets, temporary equity and liabilities as of September 30, 2016 and 2015 that were not measured at fair value in our consolidated balance sheets, inclusive of Grupo Finmart balances as discussed in Note 3, are as follows:
|  | Carrying Value |  | Estimated Fair Value
|  | September 30, 2016 |  | September 30, 2016 |  | Fair Value Measurement Using
|  | Level 1 |  | Level 2 |  | Level 3
|  | (in thousands)
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 65,737 |  |  | $ | 65,737 |  |  | $ | 65,737 |  |  | $ | — |  |  | $ | — |
Restricted cash |  | 7,089 |  |  | 7,089 |  |  | 7,089 |  |  | — |  |  | — |
Pawn loans |  | 167,329 |  |  | 167,329 |  |  | — |  |  | — |  |  | 167,329 |
Pawn service charges receivable, net |  | 31,062 |  |  | 31,062 |  |  | — |  |  | — |  |  | 31,062 |
Notes receivable, net |  | 41,946 |  |  | 41,946 |  |  | — |  |  | — |  |  | 41,946 |
Non-current notes receivable, net |  | 41,119 |  |  | 41,119 |  |  | — |  |  | — |  |  | 41,119 |
Investment in unconsolidated affiliate |  | 37,128 |  |  | 37,128 |  |  | 37,128 |  |  | — |  |  | — |
|  | $ | 391,410 |  |  | $ | 391,410 |  |  | $ | 109,954 |  |  | $ | — |  |  | $ | 281,456 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Cash Convertible Notes |  | $ | 197,954 |  |  | $ | 227,332 |  |  | $ | — |  |  | $ | 227,332 |  |  | $ | — |
Term Loan Facility |  | 47,965 |  |  | — |  |  | — |  |  | — |  |  | 48,688 |
|  | $ | 245,919 |  |  | $ | 227,332 |  |  | $ | — |  |  | $ | 227,332 |  |  | $ | 48,688 |
|  | Carrying Value |  | Estimated Fair Value
|  | September 30, 2015 |  | September 30, 2015 |  | Fair Value Measurement Using
|  | Level 1 |  | Level 2 |  | Level 3
|  | (in thousands)
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 56,244 |  |  | $ | 56,244 |  |  | $ | 56,244 |  |  | $ | — |  |  | $ | — |
Cash and cash equivalents — discontinued operations* |  | 2,880 |  |  | 2,880 |  |  | 2,880 |  |  |  |  |
Restricted cash |  | 144 |  |  | 144 |  |  | 144 |  |  | — |  |  | — |
Restricted cash — discontinued operations* |  | 14,993 |  |  | 14,993 |  |  | 14,993 |  |  |  |  |  |  |
Pawn loans |  | 159,964 |  |  | 159,964 |  |  | — |  |  | — |  |  | 159,964 |
Consumer loans, net — discontinued operations* |  | 31,824 |  |  | 43,731 |  |  | — |  |  | — |  |  | 43,731 |
Pawn service charges receivable, net |  | 30,852 |  |  | 30,852 |  |  | — |  |  | — |  |  | 30,852 |
Consumer loan fees and interest receivable, net — discontinued operations* |  | 19,105 |  |  | 19,105 |  |  | — |  |  | — |  |  | 19,105 |
Investment in unconsolidated affiliate |  | 56,182 |  |  | 56,182 |  |  | 56,182 |  |  | — |  |  | — |
Restricted cash, non-current — discontinued operations* |  | 2,883 |  |  | 2,883 |  |  | 2,883 |  |  | — |  |  | — |
Non-current consumer loans, net — discontinued operations* |  | 75,824 |  |  | 104,194 |  |  | — |  |  | — |  |  | 104,194 |
|  | $ | 450,895 |  |  | $ | 491,172 |  |  | $ | 133,326 |  |  | $ | — |  |  | $ | 357,846 |
Temporary equity: |  |  |  |  |  |  |  |  |  |
Common stock, subject to possible redemption |  | $ | 11,696 |  |  | $ | 11,438 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,438 |
Redeemable noncontrolling interest — discontinued operations* |  | 4,040 |  |  | 5,467 |  |  | — |  |  | — |  |  | 5,467 |
|  | $ | 15,736 |  |  | $ | 16,905 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,905 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Cash Convertible Notes |  | $ | 187,471 |  |  | $ | 169,050 |  |  | $ | — |  |  | $ | 169,050 |  |  | $ | — |
Foreign currency debt — discontinued operations* |  | 18,505 |  |  | 19,851 |  |  | — |  |  | 19,851 |  |  | — |
Consumer loans facility due 2019 — discontinued operations* |  | 40,493 |  |  | 40,774 |  |  | — |  |  | 40,774 |  |  | — |
Foreign currency unsecured notes — discontinued operations* |  | 20,987 |  |  | 20,477 |  |  | — |  |  | 20,477 |  |  | — |
Foreign currency secured notes — discontinued operations* |  | 20,286 |  |  | 22,476 |  |  | — |  |  | 22,476 |  |  | — |
Secured notes consolidated from VIEs — discontinued operations* |  | 73,264 |  |  | 68,685 |  |  | — |  |  | 68,685 |  |  | — |
|  | $ | 361,006 |  |  | $ | 341,313 |  |  | $ | — |  |  | $ | 341,313 |  |  | $ | — |
* | See Note 1 for discussion of operations discontinued subsequent to the adoption of FASB ASU 2014-08.
Maximum loss exposure for letter of credit losses | The following table presents the carrying amount and classification of the assets and liabilities compared to the maximum exposure to loss for each asset and liability:
|  |  |  | September 30, 2016
Instrument |  | Balance Sheet Location |  | Asset (Liability) Recorded in Consolidated Balance Sheet |  | Maximum Exposure to Loss
|  |  |  | (in thousands)
Notes receivable |  | Notes receivable, net (including discount of $3.8 million) |  | $ | 41,946 |  |  | $ | 41,946 |
Guarantee asset |  | Prepaid expenses and other current assets |  | 1,209 |  |  | — |
Notes receivable |  | Non-current notes receivable, net (including discount of $2.9 million) |  | 41,119 |  |  | 41,119 |
Guarantee liability |  | Accounts payable, accrued expenses and other current liabilities |  | (1,258 | ) | * | — |
* | Maximum exposure to loss under the guarantee liability is $25.3 million. However such amount is included within the maximum exposure to loss for the notes receivable above, as the guarantee liability is a guarantee by us of Grupo Finmart’s repayment of our notes receivable owed by Grupo Finmart.
Fair value of derivative financial instruments | The following tables set forth certain information regarding our derivative instruments not designated as hedging instruments:
|  |  |  | Fair Value Asset (Liability) of Derivative Instruments
Derivative Instrument |  | Balance Sheet Location |  | September 30, 2016 |  | September 30, 2015
|  |  |  | (in thousands)
Foreign currency forwards — discontinued operations |  | Current and non-current assets held for sale |  | $ | — |  |  | $ | 14,169 |
Guarantee asset |  | Prepaid expenses and other current assets |  | 1,209 |  |  | — |
Guarantee liability |  | Accounts payable, accrued expenses and other current liabilities |  | (1,258 | ) |  | — |
Convertible Notes Hedges |  | Other assets, net |  | 37,692 |  |  | 10,505 |
Cash Convertible Notes Embedded Derivative |  | Long-term debt, less current maturities |  | (37,692 | ) |  | (10,505 | )
Derivative financial instruments loss (gain) recognized in other comprehensive income |
|  |  |  | Amount of Unrealized (Loss) Gain on Derivatives
|  |  |  | Fiscal Year Ended September 30,
Derivative Instrument |  | Income Statement Location |  | 2016 |  | 2015 |  | 2014
|  |  |  | (in thousands)
Foreign currency forwards — discontinued operations |  | Loss from discontinued operations, net of tax* |  | $ | (3,848 | ) |  | $ | 9,529 |  |  | $ | 1,152 |
* | Amount is partially offset by gains and losses caused by related foreign currency fluctuations. The fiscal 2016 amount represents the loss on derivative prior to disposition of Grupo Finmart discussed in Note 3.

X
- Definition Schedule of Maximum Loss Exposure [Table Text Block] + References No definition available. + Details
Name: | ezpw_ScheduleofMaximumLossExposureTableTextBlock
Namespace Prefix: | ezpw_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration