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Discontinued Operations and Restructuring (Tables) | 9 Months Ended
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Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract] |
Assets and liabilities of Groupo Finmart | The following table presents the reconciliation of the major line items constituting "Loss from discontinued operations, net of tax" of Grupo Finmart that are presented in the condensed consolidated statements of operations:
| Three Months Ended June 30, |  | Nine Months Ended June 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
| (in thousands)
Revenues | $ | 11,762 |  |  | $ | 17,015 |  |  | $ | 36,345 |  |  | $ | 49,826 |
Consumer loan bad debt | (6,200 | ) |  | (2,835 | ) |  | (26,444 | ) |  | (14,685 | )
Operations expense | (9,506 | ) |  | (8,205 | ) |  | (27,120 | ) |  | (23,602 | )
Impairment of goodwill | — |  |  | — |  |  | (73,921 | ) |  | — |
Interest expense, net | (3,944 | ) |  | (5,617 | ) |  | (13,255 | ) |  | (19,370 | )
Depreciation, amortization and other expenses | (4,580 | ) |  | (1,488 | ) |  | (6,216 | ) |  | (4,126 | )
Loss from discontinued operations before income taxes of Grupo Finmart | $ | (12,468 | ) |  | $ | (1,130 | ) |  | $ | (110,611 | ) |  | $ | (11,957 | )
Income tax benefit | 2,746 |  |  | 512 |  |  | 10,439 |  |  | 4,138 |
Income (loss) from discontinued operations, net of tax of operations discontinued prior to the adoption of ASU 2014-08 | 589 |  |  | (8,836 | ) |  | (744 | ) |  | 2,772 |
Loss from discontinued operations, net of tax | $ | (9,133 | ) |  | $ | (9,454 | ) |  | $ | (100,916 | ) |  | $ | (5,047 | )
Loss from discontinued operations, net of tax of Grupo Finmart | $ | (9,722 | ) |  | $ | (618 | ) |  | $ | (100,172 | ) |  | $ | (7,819 | )
Loss from discontinued operations, net of tax of Grupo Finmart attributable to noncontrolling interest | 540 |  |  | 290 |  |  | 4,674 |  |  | 2,348 |
Loss from discontinued operations, net of tax of Grupo Finmart attributable to EZCORP, Inc. | $ | (9,182 | ) |  | $ | (328 | ) |  | $ | (95,498 | ) |  | $ | (5,471 | )
The following table presents the reconciliation of the carrying amounts of major classes of assets and liabilities of Grupo Finmart that are classified as held for sale presented in the condensed consolidated balance sheets:
| June 30, 2016 |  | June 30, 2015 |  | September 30, 2015
| (in thousands)
Cash and cash equivalents | $ | 1,728 |  |  | $ | 982 |  |  | $ | 2,880 |
Restricted cash (1) | 11,654 |  |  | 27,797 |  |  | 14,993 |
Consumer loans, net (1) | 19,905 |  |  | 36,719 |  |  | 31,824 |
Consumer loan fees and interest receivable, net (1) | 11,390 |  |  | 13,595 |  |  | 19,105 |
Prepaid expenses, income taxes and other current assets | 5,004 |  |  | 3,752 |  |  | 4,056 |
Restricted cash, non-current (1) | 2,226 |  |  | 2,978 |  |  | 2,883 |
Goodwill, intangible assets, and property and equipment, net | 10,304 |  |  | 101,083 |  |  | 92,391 |
Non-current consumer loans, net (1) | 51,504 |  |  | 82,739 |  |  | 75,824 |
Deferred tax and other assets, net | 42,872 |  |  | 45,177 |  |  | 55,525 |
Total assets classified as held for sale | $ | 156,587 |  |  | $ | 314,822 |  |  | $ | 299,481 |
Current maturities of long-term debt | $ | 80,248 |  |  | $ | 69,054 |  |  | $ | 74,345 |
Accounts payable, accrued expenses and other current liabilities | 14,098 |  |  | 12,194 |  |  | 13,380 |
Long-term debt, less current maturities, net and other long-term liabilities (2) | 36,281 |  |  | 125,378 |  |  | 101,644 |
Total liabilities classified as held for sale | $ | 130,627 |  |  | $ | 206,626 |  |  | $ | 189,369 |
(1) These amounts include the following assets of Grupo Finmart's securitization trust that can only be used to settle its liabilities (see Note 16):
| June 30, 2016 |  | June 30, 2015 |  | September 30, 2015
| (in thousands)
Restricted cash | $ | 5,505 |  |  | $ | 17,398 |  |  | $ | 12,033 |
Consumer loans* | 32,472 |  |  | 37,288 |  |  | 36,845 |
Consumer loan fees and interest receivable, net | 6,974 |  |  | 5,614 |  |  | 6,067 |
Restricted cash, non-current | 182 |  |  | 117 |  |  | 197 |
Total assets of Grupo Finmart's securitization trust | $ | 45,133 |  |  | $ | 60,417 |  |  | $ | 55,142 |
* | These amounts include the current and non-current portions of active consumer loans considered to be performing under the terms of the Grupo Finmart securitization trust. These balances, which represent the total collateral that can be used to settle the liabilities of the securitization trust, exclude loan loss allowances as described in Note 13, and are presented on a net basis in the condensed consolidated balance sheets including allowances.
(2) This amount includes the following liabilities for which the creditors of Grupo Finmart's securitization trust do not have recourse to the general credit of EZCORP, Inc. (see Note 16):
| June 30, 2016 |  | June 30, 2015 |  | September 30, 2015
| (in thousands)
Long-term debt, less current maturities | $ | 25,669 |  |  | $ | 43,900 |  |  | $ | 40,493 |
Restructuring and related costs | The following table summarizes the pre-tax restructuring charges of the fiscal 2015 restructuring action, inclusive of the charges presented in the changes in the balance of restructuring costs rollforward below:
| Three Months Ended June 30, 2016 |  | Nine Months Ended June 30, 2016
| (in thousands)
Other (a) | $ | — |  |  | $ | 768 |
Asset disposals | — |  |  | 323 |
Lease termination costs | — |  |  | 819 |
| $ | — |  |  | $ | 1,910 |
(a) | Includes costs related to employee severance and other.
Changes in these amounts attributable to the fiscal 2015 restructuring action during the three and nine-months ended June 30, 2016 are summarized as follows:
| Three Months Ended June 30, 2016 |  | Nine Months Ended June 30, 2016
| (in thousands)
Beginning balance | $ | 5,178 |  |  | $ | 8,076 |
Charged to expense | — |  |  | 1,594 |
Cash payments | (1,666 | ) |  | (5,466 | )
Other (a) | 1,716 |  |  | 1,024 |
Ending balance | $ | 5,228 |  |  | $ | 5,228 |
(a) | Includes other individually immaterial adjustments as well as adjustments to our estimate of lease termination costs.
Changes in these amounts during the three and nine-months ended June 30, 2016 and 2015 are summarized as follows:
| Three Months Ended June 30, |  | Nine Months Ended June 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
| (in thousands)
Beginning balance | $ | — |  |  | $ | 3,885 |  |  | $ | 2,901 |  |  | $ | 6,121 |
Charged to expense | — |  |  | 37 |  |  | — |  |  | 763 |
Cash payments | — |  |  | (706 | ) |  | (2,901 | ) |  | (3,668 | )
Ending Balance | $ | — |  |  | $ | 3,216 |  |  | $ | — |  |  | $ | 3,216 |

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