Condensed Consolidating Financial Information (Tables)

12 Months Ended

Sep. 30, 2012

Condensed Consolidating Financial Information [Abstract]

Condensed Consolidated Balance Sheet

Condensed Consolidating Balance Sheets

	September 30, 2012
	(Unaudited)
	Parent			Subsidiary Guarantors			Other Subsidiaries			Eliminations			Consolidated
	(in thousands)
Assets:
Current assets:
Cash and cash equivalents	$	703		$	27,686		$	20,088		$	—		$	48,477
Restricted cash	—			—			1,145			—			1,145
Pawn loans, net	—			140,885			16,763			—			157,648
Consumer loans, net	—			16,562			17,590			—			34,152
Pawn service charges receivable, net	—			26,663			2,738			—			29,401
Consumer loan fees receivable, net	—			6,899			23,517			—			30,416
Inventory, net	—			93,165			16,049			—			109,214
Deferred tax asset	9,484			5,500			—			—			14,984
Receivable from affiliates	188,186			94,063			—			(282,249		)	—
Federal income tax receivable	10,209			—			302			—			10,511
Prepaid expenses and other assets	2,243			38,629			4,579			—			45,451
Total current assets	210,825			450,052			102,771			(282,249		)	481,399
Investments in unconsolidated affiliates	74,255			51,811			—			—			126,066
Investments in subsidiaries	112,415			95,943			—			(208,358		)	—
Property and equipment, net	—			74,837			33,294			—			108,131
Restricted cash non-current	—			—			4,337			—			4,337
Deferred tax asset, non-current	(90		)	90			—			—			—
Goodwill	—			224,275			150,388			—			374,663
Intangible assets, net	1,548			17,228			26,409			—			45,185
Non-current consumer loans, net	—			—			61,997			—			61,997
Other assets, net	—			8,585			7,644			—			16,229
Total assets	$	398,953		$	922,821		$	386,840		$	(490,607	)	$	1,218,007
Liabilities and stockholders’ equity:
Current liabilities:
Current maturities of long-term debt	$	—		$	—		$	21,085		$	—		$	21,085
Current capital lease obligations	—			594			—			—			594
Accounts payable and other accrued expenses	128			56,094			22,703			—			78,925
Customer layaway deposits	—			6,251			987			—			7,238
Intercompany payables	(170,393		)	353,223			99,418			(282,248		)	—
Federal income taxes payable	(4,816		)	(44		)	4,860			—			—
Total current liabilities	(175,081		)	416,118			149,053			(282,248		)	107,842
Long-term debt, less current maturities	130,000			—			68,836			—			198,836
Long-term capital lease obligations	—			995			—			—			995
Deferred tax liability	6,834			1,327			(239		)	—			7,922
Deferred gains and other long-term liabilities	—			1,898			12,005			—			13,903
Total liabilities	(38,247		)	420,338			229,655			(282,248		)	329,498
Commitments and contingencies
Temporary equity:
Redeemable noncontrolling interest	—			—			53,681			—			53,681
Stockholders’ equity:
Class A Non-voting Common Stock, par value $.01 per share;	470			12			—			—			482
Class B Voting Common Stock, convertible, par value $.01 per share;	30			1			—			(1		)	30
Additional paid-in capital	294,586			80,210			102,188			(208,358		)	268,626
Retained earnings	138,406			423,569			3,828			—			565,803
Accumulated other comprehensive income (loss)	3,708			(1,309		)	(2,512		)	—			(113		)
EZCORP, Inc. stockholders’ equity	437,200			502,483			103,504			(208,359		)	834,828
Total liabilities and stockholders’ equity	$	398,953		$	922,821		$	386,840		$	(490,607	)	$	1,218,007

	September 30, 2011
	(Unaudited)
	Parent			Subsidiary Guarantors			Other Subsidiaries			Eliminations			Consolidated
	(in thousands)
Assets:
Current assets:
Cash and cash equivalents	$	—		$	20,860		$	3,109		$	—		$	23,969
Pawn loans, net	—			134,457			10,861			—			145,318
Consumer loans, net	—			12,526			2,085			—			14,611
Pawn service charges receivable, net	—			24,792			1,663			—			26,455
Consumer loan fees receivable, net	—			6,642			133			—			6,775
Inventory, net	—			81,277			9,096			—			90,373
Deferred tax asset	12,728			5,397			—			—			18,125
Receivable from affiliates	66,450			(66,450		)	—			—			—
Prepaid expenses and other assets	29			25,976			4,606			—			30,611
Total current assets	79,207			245,477			31,553			—			356,237
Investments in unconsolidated affiliates	71,958			48,361			—			—			120,319
Investments in subsidiaries	84,303			44,323			—			(128,626		)	—
Property and equipment, net	—			59,434			19,064			—			78,498
Goodwill	—			163,897			9,309			—			173,206
Intangible assets, net	2,147			15,183			2,460			—			19,790
Other assets, net	—			7,036			1,362			2			8,400
Total assets	$	237,615		$	583,711		$	63,748		$	(128,624	)	$	756,450
Liabilities and stockholders’ equity:
Current liabilities:
Accounts payable and other accrued expenses	13			50,871			6,516			—			57,400
Customer layaway deposits	—			5,711			465			—			6,176
Intercompany payables	(199,190		)	178,375			20,761			54			—
Income taxes payable	9,552			(5,150		)	(3,709		)	—			693
Total current liabilities	(189,625		)	229,807			24,033			54			64,269
Long-term debt, less current maturities	17,500			—			—			—			17,500
Deferred tax liability	5,940			1,563			828			—			8,331
Deferred gains and other long-term liabilities	—			2,102			—			—			2,102
Total liabilities	(166,185		)	233,472			24,861			54			92,202
Commitments and contingencies
Temporary equity:
Redeemable noncontrolling interest	—			—			—			—			—
Stockholders’ equity:
Class A Non-voting Common Stock, par value $.01 per share;	461			12			—			(2		)	471
Class B Voting Common Stock, convertible, par value $.01 per share;	30			(1		)	1			—			30
Additional paid-in capital	221,526			98,980			50,568			(128,676		)	242,398
Retained earnings	174,860			251,418			(4,183		)	—			422,095
Accumulated other comprehensive income (loss)	6,923			(170		)	(7,499		)	—			(746		)
EZCORP, Inc. stockholders’ equity	403,800			350,239			38,887			(128,678		)	664,248
Total liabilities and stockholders’ equity	$	237,615		$	583,711		$	63,748		$	(128,624	)	$	756,450

Condensed Consolidated Statements of Income

Condensed Consolidating Statements of Operations

	Fiscal Year Ended September 30, 2012
	(Unaudited)
	Parent			Subsidiary Guarantors			Other Subsidiaries			Eliminations			Consolidated
	(in thousands)
Revenues:
Merchandise sales	$	—		$	290,169		$	45,241		$	—		$	335,410
Jewelry scrapping sales	—			191,152			17,167			—			208,319
Pawn service charges	—			210,645			24,997			—			235,642
Consumer loan fees	—			159,762			47,909			—			207,671
Other revenues	20,139			6,054			2,380			(23,148		)	5,425
Total revenues	20,139			857,782			137,694			(23,148		)	992,467
Merchandise cost of goods sold	—			167,345			24,669			—			192,014
Jewelry scrapping cost of goods sold	—			122,197			12,651			—			134,848
Consumer loan bad debt	—			34,729			6,648			—			41,377
Net revenues	20,139			533,511			93,726			(23,148		)	624,228
Operating expenses:
Operations	—			258,499			44,987			—			303,486
Administrative	—			74,148			22,896			(3,009		)	94,035
Depreciation	—			17,859			5,430			—			23,289
Amortization	—			453			1,526			—			1,979
(Gain) / loss on sale or disposal of assets	—			(282		)	281			—			(1		)
Total operating expenses	—			350,677			75,120			(3,009		)	422,788
Operating income	20,139			182,834			18,606			(20,139		)	201,440
Interest, net	3,194			(1,176		)	(3,568		)	—			(1,550		)
Equity in net income of unconsolidated affiliates	(9,949		)	(7,451		)	—			—			(17,400		)
Other income	—			(829		)	(381		)	—			(1,210		)
Income before income taxes	26,894			192,290			22,555			(20,139		)	221,600
Income tax expense	63,348			20,139			7,675			(20,139		)	71,023
Net income	(36,454		)	172,151			14,880			—			150,577
Net income attributable to redeemable noncontrolling interest	—			—			6,869			—			6,869
Net income attributable to EZCORP, Inc.	$	(36,454	)	$	172,151		$	8,011		$	—		$	143,708

	Fiscal Year Ended September 30, 2011
	(Unaudited)
	Parent			Subsidiary Guarantors			Other Subsidiaries			Eliminations			Consolidated
	(in thousands)
Revenues:
Merchandise sales	$	—		$	256,641		$	25,442		$	—		$	282,083
Jewelry scrapping sales	—			$	195,398		$	17,081		$	—		$	212,479
Pawn service charges	—			184,234			16,901			—			201,135
Consumer loan fees	—			163,246			8,705			—			171,951
Other revenues	66,450			1,042			627			(66,450		)	1,669
Total revenues	66,450			800,561			68,756			(66,450		)	869,317
Merchandise cost of goods sold	—			147,240			14,820			—			162,060
Jewelry scrapping cost of goods sold	—			120,828			12,732			—			133,560
Consumer loan bad debt	—			36,166			2,593			—			38,759
Net revenues	66,450			496,327			38,611			(66,450		)	534,938
Operating expenses:
Operations	—			237,040			30,012			—			267,052
Administrative	—			70,160			5,110			—			75,270
Depreciation	—			14,326			3,163			—			17,489
Amortization	—			400			455			—			855
Loss on sale or disposal of assets	—			138			171			—			309
Total operating expenses	—			322,064			38,911			—			360,975
Operating income	66,450			174,263			(300		)	(66,450		)	173,963
Interest, net	(8,451		)	9,777			327			—			1,653
Equity in net income of unconsolidated affiliates	(8,945		)	(7,292		)	—			—			(16,237		)
Other income	—			(168		)	4			—			(164		)
Income before income taxes	83,846			171,946			(631		)	(66,450		)	188,711
Income tax expense	65,315			66,482			1,205			(66,450		)	66,552
Net income	18,531			105,464			(1,836		)	—			122,159
Net income attributable to redeemable noncontrolling interest	—			—			—			—			—
Net income attributable to EZCORP, Inc.	$	18,531		$	105,464		$	(1,836	)	$	—		$	122,159

	Fiscal Year Ended September 30, 2010
	(Unaudited)
	Parent			Subsidiary Guarantors			Other Subsidiaries			Eliminations			Consolidated
	(in thousands)
Revenues:
Merchandise sales	$	—		$	226,423		$	14,031		$	—		$	240,454
Jewelry scrapping sales	—			163,820			7,591			—			171,411
Pawn service charges	—			154,505			9,190			—			163,695
Consumer loan fees	—			155,151			1,871			—			157,022
Other revenues	53,990			455			8			(53,990		)	463
Total revenues	53,990			700,354			32,691			(53,990		)	733,045
Merchandise cost of goods sold	—			131,827			8,457			—			140,284
Jewelry scrapping cost of goods sold	—			104,599			6,239			—			110,838
Consumer loan bad debt	—			33,293			1,151			—			34,444
Net revenues	53,990			430,635			16,844			(53,990		)	447,479
Operating expenses:
Operations	—			221,017			15,647			—			236,664
Administrative	—			50,170			2,570			—			52,740
Depreciation	—			12,344			1,686			—			14,030
Amortization	—			270			361			—			631
Loss on sale or disposal of assets	—			1,470			58			—			1,528
Total operating expenses	—			285,271			20,322			—			305,593
Operating income	53,990			145,364			(3,478		)	(53,990		)	141,886
Interest, net	(9,176		)	10,141			234			—			1,199
Equity in net income of unconsolidated affiliates	(3,928		)	(6,822		)	—			—			(10,750		)
Other income	—			(92		)	(1		)	—			(93		)
Income before income taxes	67,094			142,137			(3,711		)	(53,990		)	151,530
Income tax expense	54,226			54,026			(26		)	(53,990		)	54,236
Net income	12,868			88,111			(3,685		)	—			97,294
Net income attributable to redeemable noncontrolling interest	—			—			—			—			—
Net income attributable to EZCORP, Inc.	$	12,868		$	88,111		$	(3,685	)	$	—		$	97,294

Condensed consolidated statements of comprehensive income

Condensed Consolidating Statement of Comprehensive Income

	Fiscal Year Ended September 30, 2012
	Parent			Subsidiary Guarantors			Other Subsidiaries		Consolidated
	(in thousands)
Net income (loss)	$	(36,454	)	$	172,151		$	14,880	$	150,577
Other comprehensive income (loss):
Foreign currency translation gain (loss)	(4,948		)	(1,001		)	5,942		(7		)
Unrealized holding loss arising during period	—			(735		)	—		(735		)
Income tax benefit	1,733			597			—		2,330
Other comprehensive income (loss), net of tax	(3,215		)	(1,139		)	5,942		1,588
Comprehensive income (loss)	$	(39,669	)	$	171,012		$	20,822	$	152,165
Attributable to redeemable noncontrolling interest:
Net income	—			—			6,869		6,869
Foreign currency translation gain	—			—			955		955
Comprehensive income (loss)	—			—			7,824		7,824
Comprehensive income (loss) attributable to EZCORP, Inc.	$	(39,669	)	$	171,012		$	12,998	$	144,341

	Fiscal Year Ended September 30, 2011
	Parent			Subsidiary Guarantors			Other Subsidiaries			Consolidated
	(in thousands)
Net income (loss)	$	18,531		$	105,464		$	(1,836	)	$	122,159
Other comprehensive income (loss):
Foreign currency translation gain (loss)	13,649			1,690			(4,946		)	10,393
Unrealized holding loss arising during period	—			930			—			930
Income tax provision	(4,777		)	(917		)	—			(5,694		)
Other comprehensive income (loss), net of tax	8,872			1,703			(4,946		)	5,629
Comprehensive income (loss)	$	27,403		$	107,167		$	(6,782	)	$	127,788
Attributable to redeemable noncontrolling interest:
Net income	—			—			—			—
Foreign currency translation gain (loss)	—			—			—			—
Comprehensive income	—			—			—			—
Comprehensive income (loss) attributable to EZCORP, Inc.	$	27,403		$	107,167		$	(6,782	)	$	127,788

	Fiscal Year Ended September 30, 2010
	Parent			Subsidiary Guarantors			Other Subsidiaries			Consolidated
	(in thousands)
Net income (loss)	$	12,868		$	88,111		$	(3,685	)	$	97,294
Other comprehensive income (loss):
Foreign currency translation adjustments	(2,996		)	(2,483		)	1,806			(3,673		)
Unrealized holding loss arising during period	—			—			—			—
Income tax benefit	1,049			869			—			1,918
Other comprehensive income (loss), net of tax	(1,947		)	(1,614		)	1,806			(1,755		)
Comprehensive income (loss)	$	10,921		$	86,497		$	(1,879	)	$	95,539
Attributable to redeemable noncontrolling interest:
Net income	—			—			—			—
Foreign currency translation adjustments	—			—			—			—
Comprehensive income	—			—			—			—
Comprehensive income (loss) attributable to EZCORP, Inc.	$	10,921		$	86,497		$	(1,879	)	$	95,539

Condensed consolidated Statement of cash flows

Condensed Consolidating Statement of Cash Flows

	Fiscal Year Ended September 30, 2012
	Parent			Subsidiary Guarantors			Other Subsidiaries			Consolidated
	(in thousands)
Operating Activities:
Net income (loss)	$	(36,454	)	$	172,151		$	14,880		$	150,577
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	—			18,312			6,956			25,268
Consumer loan loss provisions	—			11,210			6,623			17,833
Deferred income taxes	4,138			(141		)	(1,236		)	2,761
(Gain) loss on sale or disposal of assets	—			(282		)	281			(1		)
Stock compensation	—			6,714			—			6,714
Income from investments in unconsolidated affiliates	(9,949		)	(7,451		)	—			(17,400		)
Changes in operating assets and liabilities, net of business acquisitions:
Service charges and fees receivable, net	—			(771		)	(4,588		)	(5,359		)
Inventory, net	—			(2,731		)	(1,286		)	(4,017		)
Prepaid expenses, other current assets, and other assets, net	—			(14,254		)	1,932			(12,322		)
Accounts payable and accrued expenses	(50,173		)	(57,342		)	111,862			4,347
Customer layaway deposits	—			(259		)	477			218
Deferred gains and other long-term liabilities	—			(10,681		)	1,899			(8,782		)
Excess tax benefit from stock compensation	(1,602		)	—			—			(1,602		)
Income taxes receivable/payable	(21,045		)	3,176			10,082			(7,787		)
Net cash provided by (used in) operating activities	$	(115,085	)	$	117,651		$	147,882		$	150,448
Investing Activities:
Loans made	—			(638,121		)	(164,775		)	(802,896		)
Loans repaid	—			408,404			111,789			520,193
Recovery of pawn loan principal through sale of forfeited collateral	—			213,115			27,266			240,381
Additions to property and equipment	—			(31,064		)	(14,732		)	(45,796		)
Acquisitions, net of cash acquired	—			(66,317		)	(62,330		)	(128,647		)
Dividends from unconsolidated affiliates	2,221			3,339			—			5,560
Net cash provided by (used in) investing activities	$	2,221		$	(110,644	)	$	(102,782	)	$	(211,205	)
Financing Activities:
Proceeds from exercise of stock options	649			—			—			649
Excess tax benefit from stock compensation	1,602			—			—			1,602
Debt issuance costs	—			—			(3,225		)	(3,225		)
Taxes paid related to net share settlement of equity awards	(1,184		)	—			—			(1,184		)
Change in restricted cash	—			—			(5,482		)	(5,482		)
Proceeds from revolving line of credit	753,200			—			39,727			792,927
Payments on revolving line of credit	(640,700		)	—			(54,377		)	(695,077		)
Proceeds from bank borrowings	—			—			2,461			2,461
Payments on bank borrowings and capital lease obligations	—			(181		)	(8,315		)	(8,496		)
Net cash provided by (used in) financing activities	$	113,567		$	(181	)	$	(29,211	)	$	84,175
Effect of exchange rate changes on cash and cash equivalents	—			—			1,090			1,090
Net increase in cash and cash equivalents	703			6,826			16,979			24,508
Cash and cash equivalents at beginning of period	—			20,860			3,109			23,969
Cash and cash equivalents at end of period	$	703		$	27,686		$	20,088		$	48,477

	Fiscal Year Ended September 30, 2011
	Parent			Subsidiary Guarantors			Other Subsidiaries			Consolidated
	(in thousands)
Operating Activities:
Net income (loss)	$	18,531		$	105,464		$	(1,836	)	$	122,159
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	—			14,726			3,618			18,344
Consumer loan loss provisions	—			12,521			2,566			15,087
Deferred income taxes	12,458			191			1,014			13,663
Loss on sale or disposal of assets	—			138			171			309
Stock compensation	—			13,208			—			13,208
Income from investments in unconsolidated affiliates	(8,945		)	(7,292		)	—			(16,237		)
Changes in operating assets and liabilities, net of business acquisitions:
Service charges and fees receivable, net	—			(2,300		)	(698		)	(2,998		)
Inventory, net	—			(3,506		)	(3,309		)	(6,815		)
Prepaid expenses, other current assets, and other assets, net	(66,473		)	57,985			(3,957		)	(12,445		)
Accounts payable and accrued expenses	51,892			(74,267		)	27,786			5,411
Customer layaway deposits	—			(402		)	307			(95		)
Deferred gains and other long-term liabilities	—			(423		)	11			(412		)
Excess tax benefit from stock compensation	—			(3,230		)	—			(3,230		)
Income taxes receivable (payable)	1,706			42			(1,704		)	44
Net cash provided by operating activities	$	9,169		$	112,855		$	23,969		$	145,993
Investing Activities:
Loans made	—			(554,138		)	(95,111		)	(649,249		)
Loans repaid	—			339,574			64,818			404,392
Recovery of pawn loan principal through sale of forfeited collateral	—			183,441			22,221			205,662
Additions to property and equipment	—			(24,651		)	(9,471		)	(34,122		)
Acquisitions, net of cash acquired	—			(62,768		)	(5,152		)	(67,920		)
Dividends from unconsolidated affiliates	4,118			3,156			—			7,274
Net cash provided by (used in) investing activities	$	4,118		$	(115,386	)	$	(22,695	)	$	(133,963	)
Financing Activities:
Proceeds from exercise of stock options	397			—			—			397
Excess tax benefit from stock compensation	3,230			—			—			3,230
Debt issuance costs	(1,930		)	(467		)	—			(2,397		)
Taxes paid related to net share settlement of equity awards	(7,484		)	—			—			(7,484		)
Proceeds from revolving line of credit	—			164,500			—			164,500
Payments on revolving line of credit	—			(147,000		)	—			(147,000		)
Proceeds from bank borrowings	2,500			(2,500		)	—			—
Payments on bank borrowings and capital lease obligations	(10,000		)	(15,004		)	—			(25,004		)
Net cash used in financing activities	$	(13,287	)	$	(471	)	$	—		$	(13,758	)
Effect of exchange rate changes on cash and cash equivalents	—			—			(157		)	(157		)
Change in cash and cash equivalents	—			(3,002		)	1,117			(1,885		)
Cash and cash equivalents at beginning of period	—			23,862			1,992			25,854
Cash and cash equivalents at end of period	$	—		$	20,860		$	3,109		$	23,969

	Fiscal Year Ended September 30, 2010
	Parent			Subsidiary Guarantors			Other Subsidiaries			Consolidated
	(in thousands)
Operating Activities:
Net income (loss)	$	12,868		$	88,111		$	(3,685	)	$	97,294
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	—			12,614			2,047			14,661
Consumer loan loss provisions	—			10,494			1,094			11,588
Deferred income taxes	(3,022		)	1,660			75			(1,287		)
Loss on sale or disposal of assets	—			1,470			58			1,528
Stock compensation	—			4,512			—			4,512
Income from investments in unconsolidated affiliates	(3,928		)	(6,822		)	—			(10,750		)
Changes in operating assets and liabilities, net of business acquisitions:
Service charges and fees receivable, net	—			(3,742		)	(570		)	(4,312		)
Inventory, net	—			(1,773		)	(371		)	(2,144		)
Prepaid expenses, other current assets, and other assets, net	397			(3,983		)	(2,691		)	(6,277		)
Accounts payable and accrued expenses	50,659			(57,494		)	22,427			15,592
Customer layaway deposits	—			1,780			44			1,824
Deferred gains and other long-term liabilities	—			(422		)	(314		)	(736		)
Excess tax benefit from stock compensation	—			(1,861		)	—			(1,861		)
Income taxes receivable (payable)	5,841			270			(1,018		)	5,093
Net cash provided by operating activities	$	62,815		$	44,814		$	17,096		$	124,725
Investing Activities:
Loans made	—			(504,305		)	(41,274		)	(545,579		)
Loans repaid	—			313,255			22,577			335,832
Recovery of pawn loan principal through sale of forfeited collateral	—			162,407			11,817			174,224
Additions to property and equipment	—			(16,503		)	(9,238		)	(25,741		)
Proceeds on disposal of assets	—			1,347			—			1,347
Acquisitions, net of cash acquired	—			(21,837		)	—			(21,837		)
Investments in unconsolidated affiliates	(57,772		)	(1,416		)	—			(59,188		)
Dividends from unconsolidated affiliates	1,494			2,347			—			3,841
Net cash used in investing activities	$	(56,278	)	$	(64,705	)	$	(16,118	)	$	(137,101	)
Financing Activities:
Proceeds from exercise of stock options	1,602			—			—			1,602
Excess tax benefit from stock compensation	1,861			—			—			1,861
Taxes paid related to net share settlement of equity awards	—			—			—			—
Debt issuance costs	—			3			—			3
Proceeds from revolving line of credit	63,050			—			—			63,050
Payments on revolving line of credit	(63,050		)	—			—			(63,050		)
Proceeds from bank borrowings	—			—			—			—
Payments on bank borrowings and capital lease obligations	(10,000		)	—			—			(10,000		)
Net cash provided by (used in) financing activities	$	(6,537	)	$	3		$	—		$	(6,534	)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			—
Change in cash and cash equivalents	—			(19,888		)	978			(18,910		)
Cash and cash equivalents at beginning of period	—			43,750			1,014			44,764
Cash and cash equivalents at end of period	$	—		$	23,862		$	1,992		$	25,854