Redeemable Noncontrolling Interest

12 Months Ended

Sep. 30, 2014

REDEEMABLE NONCONTROLLING INTEREST

The following table provides a summary of the activities in our redeemable noncontrolling interest during the years ended September 30, 2014 and 2013:



	Redeemable Noncontrolling Interest
	(in thousands)
Balance as of September 30, 2012	$	53,681
Acquisition of redeemable noncontrolling interest	2,836
Sale of additional shares to parent	(9,531		)
Net income attributable to redeemable noncontrolling interest	4,348
Contribution to maintain ownership percentage	6,135
Foreign currency translation adjustment attributable to noncontrolling interest	(2,017		)
Effective portion of cash flow hedge	(59		)
Balance as of September 30, 2013	$	55,393
Sale of additional shares to parent	(23,181		)
Net income attributable to redeemable noncontrolling interest	4,208
Foreign currency translation adjustment attributable to noncontrolling interest	(768		)
Effective portion of cash flow hedge	(154		)
Balance as of September 30, 2014	$	35,498

On November 1, 2012, we acquired a 51% interest in TUYO (see Note 3 for details). On January 1, 2014, we acquired an additional 8% interest in TUYO for $1.1 million, increasing our ownership percentage to 59%.

On November 14, 2012, we acquired an additional 23% of the ordinary shares outstanding of Cash Genie, our U.K. online lending business, for $10.4 million, increasing our ownership percentage from 72% to 95%, with the remaining 5% held by local management. The consideration paid to the selling shareholder was paid in the form of 592,461 shares of EZCORP Class A Common Stock. This transaction was treated as an equity transaction and not an adjustment to the purchase price of the initial controlling interest acquisition of Cash Genie. On August 1, 2013, we acquired the remaining ordinary shares that were held by local management for $0.6 million. As of August 1, 2013, we own 100% of Cash Genie's ordinary shares.

On April 1, 2013, Grupo Finmart completed a $15.3 million equity offering to its existing shareholders for the purpose of strengthening its balance sheet as it continues to seek additional debt to fund loan originations. We invested $9.2 million with the noncontrolling interest shareholders investing the remaining $6.1 million, which maintained our ownership at 60% and the noncontrolling shareholders' ownership at 40%. On June 30, 2014, we acquired an additional 16% of the ordinary shares outstanding of Grupo Finmart for $28.7 million, increasing our ownership percentage from 60% to 76%, with the remaining 24% held by minority shareholders.

All transactions with noncontrolling interest shareholders subsequent to the initial acquisition were treated as equity transactions and not as adjustments to the purchase prices of the initial controlling interest acquisitions.

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

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