Restatement of Consolidated Financial Statements (Tables)

12 Months Ended

Sep. 30, 2014

Sep. 30, 2012

Accounting Changes and Error Corrections [Abstract]

Schedule of Effects of the Restatement on Previously Issued Condensed Consolidated Financial Statements

The following tables summarize the impact of the restatement on our consolidated financial statements for the fiscal years ended September 30, 2014, September 30, 2013 and September 30, 2012:

	Fiscal 2014
				Restatement Adjustments
	As Previously Reported			Asset Sale Impact			Portfolio Review Impact			Other Impacts*			As Restated
	(in thousands, except per share amounts)
Total revenues	$	988,532		$	(16,714	)	$	(16,932	)	$	2,760		$	957,646
Net revenues	615,097			(18,692		)	(25,658		)	(518		)	570,229
Operating expenses	518,480			57			2,241			(5,305		)	515,473
Non-operating expenses	23,917			6,527			—			(882		)	29,562
Income from continuing operations before income taxes	72,700			(25,276		)	(27,899		)	5,669			25,194
Income tax expense	20,806									(15,550		)	5,256
Income from continuing operations, net of tax	$	51,894								$	(31,956	)	$	19,938
Net loss attributable to EZCORP, Inc.	$	(45,740	)							$	(18,959	)	$	(64,699	)
Basic loss per share attributable to EZCORP, Inc.	$	(0.84	)							$	(0.36	)	$	(1.20	)
Diluted loss per share attributable to EZCORP, Inc.	$	(0.84	)							$	(0.35	)	$	(1.19	)

* Amounts in this column pertaining to Income tax expense, Income from continuing operations, net of tax, Net loss attributable to EZCORP, Inc., and Diluted loss per share attributable to EZCORP, Inc. are aggregate impacts for all restatement adjustments.

	Fiscal 2013
			Restatement Adjustments
	As Previously Reported		Asset Sale Impact		Portfolio Review Impact			Other Impacts*			As Restated
	(in thousands, except per share amounts)
Total revenues	$	980,121	$	—	$	(7,935	)	$	(2,018	)	$	970,168
Net revenues	624,704		—		(19,762		)	(2,018		)	602,924
Operating expenses	474,562		—		3,231			(2,552		)	475,241
Non-operating expenses	47,683		—		(1,642		)	1,162			47,203
Income from continuing operations before income taxes	102,459		—		(21,351		)	(628		)	80,480
Income tax expense	29,582							(3,384		)	26,198
Income from continuing operations, net of tax	$	72,877						$	(18,595	)	$	54,282
Net income attributable to EZCORP, Inc.	$	34,077						$	(11,769	)	$	22,308
Basic earnings per share attributable to EZCORP, Inc.	$	0.64						$	(0.23	)	$	0.41
Diluted earnings per share attributable to EZCORP, Inc.	$	0.63						$	(0.22	)	$	0.41

* Amounts in this column pertaining to Income tax expense, Income from continuing operations, net of tax, Net income attributable to EZCORP, Inc., and Diluted earnings per share attributable to EZCORP, Inc. are aggregate impacts for all restatement adjustments.

	Fiscal 2012
				Restatement Adjustments
	As Previously Reported			Asset Sale Impact		Portfolio Review Impact			Other Impacts*			As Restated
	(in thousands, except per share amounts)
Total revenues	$	964,502		$	—	$	(921	)	$	(2,864	)	$	960,717
Net revenues	607,511			—		(8,723		)	(2,864		)	595,924
Operating expenses	400,263			—		(37		)	54			400,280
Non-operating income	(19,837		)	—		—			1,362			(18,475		)
Income from continuing operations before income taxes	227,085			—		(8,686		)	(4,280		)	214,119
Income tax expense	71,165								(3,500		)	67,665
Income from continuing operations, net of tax	$	155,920							$	(9,466	)	$	146,454
Net income attributable to EZCORP, Inc.	$	143,708							$	(6,863	)	$	136,845
Basic earnings per share attributable to EZCORP, Inc.	$	2.82							$	(0.13	)	$	2.69
Diluted earnings per share attributable to EZCORP, Inc.	$	2.81							$	(0.14	)	$	2.67

* Amounts in this column pertaining to Income tax expense, Income from continuing operations, net of tax, Net income attributable to EZCORP, Inc., and Diluted earnings per share attributable to EZCORP, Inc. are aggregate impacts for all restatement adjustments.

EZCORP, Inc. CONSOLIDATED BALANCE SHEET (in thousands, except share and per share amounts)
	September 30, 2014
	As Previously Reported			Restatement Adjustments			As Restated
Assets:
Current assets:
Cash and cash equivalents	$	56,329		$	(1,004	)	$	55,325
Restricted cash	62,406			1,089			63,495
Pawn loans	162,444			—			162,444
Consumer loans, net	67,594			(3,599		)	63,995
Pawn service charges receivable, net	31,044			—			31,044
Consumer loan fees and interest receivable, net	30,653			(18,006		)	12,647
Inventory, net	139,419			(1,244		)	138,175
Deferred tax asset	20,858			(3,286		)	17,572
Prepaid income taxes	28,655			28,414			57,069
Prepaid expenses and other assets	76,959			(43,862		)	33,097
Total current assets	676,361			(41,498		)	634,863
Investments in unconsolidated affiliates	91,098			683			91,781
Property and equipment, net	105,900			—			105,900
Restricted cash, non-current	4,257			813			5,070
Goodwill	346,577			—			346,577
Intangible assets, net	64,624			1,462			66,086
Non-current consumer loans, net	40,442			44,562			85,004
Deferred tax asset	13,154			(1,012		)	12,142
Other assets, net	61,058			2,063			63,121
Total assets	$	1,403,471		$	7,073		$	1,410,544
Liabilities and stockholders’ equity:
Current liabilities:
Current maturities of long-term debt	$	10,673		$	25,438		$	36,111
Current capital lease obligations	418			—			418
Accounts payable and other accrued expenses	97,213			(2,220		)	94,993
Other current liabilities	8,595			—			8,595
Customer layaway deposits	8,097			—			8,097
Total current liabilities	124,996			23,218			148,214
Long-term debt, less current maturities	356,430			35,624			392,054
Deferred gains and other long-term liabilities	11,359			3,813			15,172
Total liabilities	492,785			62,655			555,440
Commitments and contingencies
Temporary equity:
Redeemable noncontrolling interest	35,498			(12,698		)	22,800
Stockholders’ equity:
Class A Non-voting Common Stock, par value $.01 per share; shares authorized: 100 million at September 30, 2014; issued and outstanding: 50,614,767 at September 30, 2014	506			—			506
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	339,666			(7,402		)	332,264
Retained earnings	547,177			(37,591		)	509,586
Accumulated other comprehensive loss	(12,191		)	2,109			(10,082		)
EZCORP, Inc. stockholders’ equity	875,188			(42,884		)	832,304
Total liabilities and stockholders’ equity	$	1,403,471		$	7,073		$	1,410,544

EZCORP, Inc. CONSOLIDATED STATEMENT OF OPERATIONS
	Fiscal Year Ended September 30, 2014
	(in thousands, except per share amounts)
	As Previously Reported			Restatement Adjustments			As Restated
Revenues:
Merchandise sales	$	387,331		$	691		$	388,022
Jewelry scrapping sales	96,243			—			96,243
Pawn service charges	248,378			—			248,378
Consumer loan fees and interest	219,535			606			220,141
Other revenues	37,045			(32,183		)	4,862
Total revenues	988,532			(30,886		)	957,646
Merchandise cost of goods sold	247,393			1,244			248,637
Jewelry scrapping cost of goods sold	72,836			—			72,836
Consumer loan bad debt	53,206			12,738			65,944
Net revenues	615,097			(44,868		)	570,229
Operating expenses:
Operations	420,350			(3,284		)	417,066
Administrative	61,819			277			62,096
Depreciation	29,801			—			29,801
Amortization	5,475			—			5,475
Gain on sale or disposal of assets	(5,629		)	—			(5,629		)
Restructuring	6,664			—			6,664
Total operating expenses	518,480			(3,007		)	515,473
Operating income	96,617			(41,861		)	54,756
Interest expense, net	22,832			4,258			27,090
Equity in net income of unconsolidated affiliates	(5,948		)	—			(5,948		)
Impairment of investments	7,940			—			7,940
Other expense (income)	(907		)	1,387			480
Income from continuing operations before income taxes	72,700			(47,506		)	25,194
Income tax expense	20,806			(15,550		)	5,256
Income from continuing operations, net of tax	51,894			(31,956		)	19,938
Loss from discontinued operations, net of tax	(93,426		)	1,402			(92,024		)
Net loss	(41,532		)	(30,554		)	(72,086		)
Net (loss) income from continuing operations attributable to redeemable noncontrolling interest	4,208			(11,595		)	(7,387		)
Net loss attributable to EZCORP, Inc.	$	(45,740	)	$	(18,959	)	$	(64,699	)
Basic (loss) earnings per share attributable to EZCORP, Inc.:
Continuing operations	$	0.88		$	(0.38	)	$	0.50
Discontinued operations	(1.72		)	0.02			(1.70		)
Basic loss per share	$	(0.84	)	$	(0.36	)	$	(1.20	)
Diluted (loss) earnings per share attributable to EZCORP, Inc.:
Continuing operations	$	0.88		$	(0.38	)	$	0.50
Discontinued operations	(1.72		)	0.03			(1.69		)
Diluted loss per share	$	(0.84	)	$	(0.35	)	$	(1.19	)
Net income from continuing operations attributable to EZCORP, Inc.	$	47,686		$	(20,361	)	$	27,325
Loss from discontinued operations attributable to EZCORP, Inc.	(93,426		)	1,402			(92,024		)
Net loss attributable to EZCORP, Inc.	$	(45,740	)	$	(18,959	)	$	(64,699	)

EZCORP, Inc. CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS
	Fiscal Year Ended September 30, 2014
	(in thousands)
	As Previously Reported			Restatement Adjustments			As Restated
Net loss	$	(41,532	)	$	(30,554	)	$	(72,086	)
Other comprehensive loss:
Foreign currency translation loss	(5,812		)	1,747			(4,065		)
Foreign currency translation reclassification adjustment realized upon impairment	375			—			375
Loss on effective portion of cash flow hedge:				—
Other comprehensive loss before reclassifications	(453		)	—			(453		)
Amounts reclassified from accumulated other comprehensive income	49			—			49
Amounts reclassified from accumulated other comprehensive income	540			—			540
Reclassification adjustment for gain on available-for-sale securities included in net income	(540		)	—			(540		)
Income tax benefit (expense)	(598		)	(559		)	(1,157		)
Other comprehensive loss, net of tax	(6,439		)	1,188			(5,251		)
Comprehensive loss	$	(47,971	)	$	(29,366	)	$	(77,337	)
Attributable to redeemable noncontrolling interest:
Net (loss) income	4,208			(11,595		)	(7,387		)
Foreign currency translation loss	(768		)	(692		)	(1,460		)
Loss on effective portion of cash flow hedge	(154		)	—			(154		)
Comprehensive (loss) income attributable to redeemable noncontrolling interest	3,286			(12,287		)	(9,001		)
Comprehensive loss attributable to EZCORP, Inc.	$	(51,257	)	$	(17,079	)	$	(68,336	)

EZCORP, Inc. CONSOLIDATED STATEMENT OF CASH FLOWS
	Fiscal Year Ended September 30, 2014
	(in thousands)
	As Previously Reported			Restatement Adjustments			As Restated
Operating activities:
Net loss	$	(41,532	)	$	(30,554	)	$	(72,086	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	38,627			—			38,627
Amortization of debt discount and consumer loan premium, net	2,611			—			2,611
Consumer loan loss provision	42,501			2,513			45,014
Deferred income taxes	(11,973		)	5,798			(6,175		)
Impairment of goodwill	84,158			—			84,158
Reversal of contingent consideration	(4,792		)	—			(4,792		)
Impairment of intangibles	11,908			(1,600		)	10,308
Restructuring	6,121			—			6,121
Amortization of deferred financing costs	5,137			—			5,137
Amortization of prepaid commissions	16,893			(2,368		)	14,525
Other	(2,453		)	202			(2,251		)
Gain on sale or disposal of assets	(5,371		)	—			(5,371		)
Gain on sale of loan portfolio	(33,000		)	33,000			—
Stock compensation	7,341			(496		)	6,845
Income from investments in unconsolidated affiliates	(5,948		)	—			(5,948		)
Impairment of investments	7,940			—			7,940
Changes in operating assets and liabilities, net of business acquisitions:
Service charges and fees receivable, net	(2,967		)	755			(2,212		)
Inventory, net	(898		)	1,244			346
Prepaid expenses, other current assets and other assets, net	(29,294		)	487			(28,807		)
Accounts payable and other accrued expenses	12,109			(2,973		)	9,136
Customer layaway deposits	(499		)	—			(499		)
Deferred gains and other long-term liabilities	11			(195		)	(184		)
Tax provision from stock compensation	609			—			609
Prepaid income taxes	(13,124		)	(20,356		)	(33,480		)
Dividends from unconsolidated affiliates	5,129			—			5,129
Net cash provided by operating activities	89,244			(14,543		)	74,701
Investing activities:
Loans made	(959,540		)	—			(959,540		)
Loans repaid	628,710			30,276			658,986
Recovery of pawn loan principal through sale of forfeited collateral	246,053			—			246,053
Additions to property and equipment	(22,964		)	—			(22,964		)
Acquisitions, net of cash acquired	(13,226		)	—			(13,226		)
Proceeds from sale of assets	86,129			(75,498		)	10,631
Net cash used in investing activities	(34,838		)	(45,222		)	(80,060		)
Financing activities:
Tax benefit from stock compensation	(609		)	—			(609		)
Taxes paid related to net share settlement of equity awards	(1,982		)	—			(1,982		)
Debt issuance costs	(14,017		)	—			(14,017		)
Payout of deferred and contingent consideration	(23,000		)	—			(23,000		)
Proceeds from issuance of convertible notes	230,000			—			230,000
Purchase of convertible notes hedges	(46,454		)	—			(46,454		)
Proceeds from issuance of warrants	25,106			—			25,106
Purchase of subsidiary shares from noncontrolling interest	(29,775		)	—			(29,775		)
Change in restricted cash	(63,207		)	5,316			(57,891		)
Proceeds from revolving line of credit	359,900			—			359,900
Payments on revolving line of credit	(500,800		)	—			(500,800		)
Proceeds from borrowings	103,178			72,835			176,013
Payments on borrowings and capital lease obligations	(60,299		)	(11,774		)	(72,073		)
Repurchase of common stock	(11,903		)	—			(11,903		)
Net cash provided by (used in) financing activities	(33,862		)	66,377			32,515
Effect of exchange rate changes on cash and cash equivalents	(532		)	(399		)	(931		)
Net increase in cash and cash equivalents	20,012			6,213			26,225
Cash and cash equivalents at beginning of period	36,317			(7,217		)	29,100

EZCORP, Inc. CONSOLIDATED STATEMENT OF CASH FLOWS
Cash and cash equivalents at end of period	$	56,329		$	(1,004	)	$	55,325
Cash paid during the period for:
Interest	$	16,361		$	—		$	16,361
Income taxes	30,194			—			30,194
Non-cash investing and financing activities:
Pawn loans forfeited and transferred to inventory	$	241,696		$	—		$	241,696
Deferred consideration	2,674			—			2,674
Change in accrued additions to property and equipment	(420		)	—			(420		)
Issuance of common stock to 401(k) plan	557			—			557
Equity adjustment due to noncontrolling interest purchase	6,609			—			6,609
Receivable from sale of portfolio	43,780			(43,780		)	—
Deferred finance cost payable related to convertible notes	1,092			—			1,092

EZCORP, Inc. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
	Common Stock						Additional Paid-in Capital						Accumulated Other Comprehensive (Loss) Income			Treasury Stock					EZCORP, Inc. Stockholders' Equity
	Shares			Par Value						Retained Earnings						Shares			Par Value
	(in thousands)
	As Previously Reported
Balances at September 30, 2013	54,240			$	543		$	320,777		$	599,880		$	(6,674	)	—			$	—	$	914,526
Issuance of common stock related to 401(k) match	45			—			557			—			—			—			—		557
Stock compensation	—			—			7,341			—			—			—			—		7,341
Purchase of subsidiary shares from noncontrolling interest	—			—			(6,594		)	—			(15		)	—			—		(6,609		)
Release of restricted stock	300			3			—			—			—			—			—		3
Tax deficiency of stock compensation	—			—			(609		)	—			—			—			—		(609		)
Taxes paid related to net share settlement of equity awards	—			—			(1,982		)	—			—			—			—		(1,982		)
Effective portion of cash flow hedge	—			—			—			—			(250		)	—			—		(250		)
Net proceeds from sale of warrants	—			—			25,106			—			—			—			—		25,106
Foreign currency translation adjustment	—			—			—			—			(5,627		)	—			—		(5,627		)
Foreign currency translation reclassification adjustment realized upon impairment	—			—			—			—			375			—			—		375
Purchase of treasury stock	(1,000		)	(10		)	(4,930		)	(6,963		)	—			1,000			—		(11,903		)
Retirement of treasury stock	—			—			—			—			—			(1,000		)	—		—
Net loss attributable to EZCORP, Inc.	—			—			—			(45,740		)	—			—			—		(45,740		)
Balances at September 30, 2014	53,585			$	536		$	339,666		$	547,177		$	(12,191	)	—			$	—	$	875,188
	Restatement Adjustments
Balances at September 30, 2013	$	—		$	—		$	(240	)	$	(18,632	)	$	229		$	—		$	—	$	(18,643	)
Stock compensation	—			—			(496		)	—			—			—			—		(496		)
Purchase of subsidiary shares from noncontrolling interest	—			—			(6,666		)	—			—			—			—		(6,666		)
Foreign currency translation adjustment	—			—			—			—			1,880			—			—		1,880
Net loss attributable to EZCORP, Inc.	—			—			—			(18,959		)	—			—			—		(18,959		)
Balances at September 30, 2014	$	—		$	—		$	(7,402	)	$	(37,591	)	$	2,109		$	—		$	—	$	(42,884	)
	As Restated
Balances at September 30, 2013	54,240			$	543		$	320,537		$	581,248		$	(6,445	)	—			$	—	$	895,883
Issuance of common stock related to 401(k) match	45			—			557			—			—			—			—		557
Stock compensation	—			—			6,845			—			—			—			—		6,845
Purchase of subsidiary shares from noncontrolling interest	—			—			(13,260		)	—			(15		)	—			—		(13,275		)
Release of restricted stock	300			3			—			—			—			—			—		3
Tax deficiency of stock compensation	—			—			(609		)	—			—			—			—		(609		)
Taxes paid related to net share settlement of equity awards	—			—			(1,982		)	—			—			—			—		(1,982		)
Effective portion of cash flow hedge	—			—			—			—			(250		)	—			—		(250		)
Net proceeds from sale of warrants	—			—			25,106			—			—			—			—		25,106
Foreign currency translation adjustment	—			—			—			—			(3,747		)	—			—		(3,747		)
Foreign currency translation reclassification adjustment realized upon impairment	—			—			—			—			375			—			—		375
Purchase of treasury stock	(1,000		)	(10		)	(4,930		)	(6,963		)	—			1,000			—		(11,903		)
Retirement of treasury stock	—			—			—			—			—			(1,000		)	—		—
Net loss attributable to EZCORP, Inc.	—			—			—			(64,699		)	—			—			—		(64,699		)
Balances at September 30, 2014	53,585			$	536		$	332,264		$	509,586		$	(10,082	)	—			$	—	$	832,304

The effects of the restatement on our consolidated financial statements as of and for the fiscal year ended September 30, 2013 are set forth below.

EZCORP, Inc. CONSOLIDATED BALANCE SHEET (in thousands, except share and per share amounts)
	September 30, 2013
	As Previously Reported			Restatement Adjustments			As Restated
Assets:
Current assets:
Cash and cash equivalents	$	36,317		$	(7,217	)	$	29,100
Restricted cash	3,312			5,864			9,176
Pawn loans	156,637			—			156,637
Consumer loans, net	64,683			(7,803		)	56,880
Pawn service charges receivable, net	30,362			—			30,362
Consumer loan fees and interest receivable, net	36,292			(17,243		)	19,049
Inventory, net	145,200			—			145,200
Deferred tax asset	13,825			1,477			15,302
Prepaid income taxes	16,105			8,008			24,113
Prepaid expenses and other assets	34,217			(3		)	34,214
Total current assets	536,950			(16,917		)	520,033
Investments in unconsolidated affiliates	97,085			—			97,085
Property and equipment, net	116,281			—			116,281
Restricted cash, non-current	2,156			1,353			3,509
Goodwill	433,300			—			433,300
Intangible assets, net	63,805			1,586			65,391
Non-current consumer loans, net	70,294			(4,806		)	65,488
Deferred tax asset	8,214			23			8,237
Other assets, net	24,105			(461		)	23,644
Total assets	$	1,352,190		$	(19,222	)	$	1,332,968
Liabilities and stockholders’ equity:
Current liabilities:
Current maturities of long-term debt	$	30,436		$	—		$	30,436
Current capital lease obligations	533			—			533
Accounts payable and other accrued expenses	79,967			890			80,857
Other current liabilities	22,337			882			23,219
Customer layaway deposits	8,628			—			8,628
Total current liabilities	141,901			1,772			143,673
Long-term debt, less current maturities	215,939			—			215,939
Long-term capital lease obligations	391			—			391
Deferred gains and other long-term liabilities	24,040			5,745			29,785
Total liabilities	382,271			7,517			389,788
Commitments and contingencies
Temporary equity:
Redeemable noncontrolling interest	55,393			(8,096		)	47,297
Stockholders’ equity:
Class A Non-voting Common Stock, par value $.01 per share; shares authorized: 56 million at September 30, 2013; issued and outstanding: 51,269,434 at September 30, 2013	513			—			513
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	320,777			(240		)	320,537
Retained earnings	599,880			(18,632		)	581,248
Accumulated other comprehensive loss	(6,674		)	229			(6,445		)
EZCORP, Inc. stockholders’ equity	914,526			(18,643		)	895,883
Total liabilities and stockholders’ equity	$	1,352,190		$	(19,222	)	$	1,332,968

EZCORP, Inc. CONSOLIDATED STATEMENT OF OPERATIONS
	Fiscal Year Ended September 30, 2013
	(in thousands, except per share amounts)
	As Previously Reported			Restatement Adjustments			As Restated
Revenues:
Merchandise sales	$	368,766		$	(681	)	$	368,085
Jewelry scrapping sales	131,702			—			131,702
Pawn service charges	251,354			—			251,354
Consumer loan fees and interest	219,752			(8,127		)	211,625
Other revenues	8,547			(1,145		)	7,402
Total revenues	980,121			(9,953		)	970,168
Merchandise cost of goods sold	218,617			—			218,617
Jewelry scrapping cost of goods sold	96,133			—			96,133
Consumer loan bad debt	40,667			11,827			52,494
Net revenues	624,704			(21,780		)	602,924
Operating expenses:
Operations	389,386			814			390,200
Administrative	52,474			(135		)	52,339
Depreciation	27,858			—			27,858
Amortization	3,485			—			3,485
Loss on sale or disposal of assets	1,359			—			1,359
Total operating expenses	474,562			679			475,241
Operating income	150,142			(22,459		)	127,683
Interest expense, net	15,168			—			15,168
Equity in net income of unconsolidated affiliates	(11,878		)	(1,362		)	(13,240		)
Impairment of investments	44,598			(1,400		)	43,198
Other income	(205		)	2,282			2,077
Income from continuing operations before income taxes	102,459			(21,979		)	80,480
Income tax expense	29,582			(3,384		)	26,198
Income from continuing operations, net of tax	72,877			(18,595		)	54,282
Loss from discontinued operations, net of tax	(34,452		)	1,180			(33,272		)
Net income	38,425			(17,415		)	21,010
Net (loss) income from continuing operations attributable to redeemable noncontrolling interest	4,424			(5,646		)	(1,222		)
Net loss from discontinued operations attributable to redeemable noncontrolling interest	(76		)	—			(76		)
Net income attributable to EZCORP, Inc.	$	34,077		$	(11,769	)	$	22,308
Basic earnings (loss) per share attributable to EZCORP, Inc.:
Continuing operations	$	1.28		$	(0.25	)	$	1.03
Discontinued operations	(0.64		)	0.02			(0.62		)
Basic earnings per share	$	0.64		$	(0.23	)	$	0.41
Diluted earnings (loss) per share attributable to EZCORP, Inc.:
Continuing operations	$	1.27		$	(0.24	)	$	1.03
Discontinued operations	(0.64		)	0.02			(0.62		)
Diluted earnings per share	$	0.63		$	(0.22	)	$	0.41
Net income from continuing operations attributable to EZCORP, Inc.	$	68,453		$	(12,949	)	$	55,504
Loss from discontinued operations attributable to EZCORP, Inc.	(34,376		)	1,180			(33,196		)
Net income attributable to EZCORP, Inc.	$	34,077		$	(11,769	)	$	22,308

EZCORP, Inc. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
	Fiscal Year Ended September 30, 2013
	(in thousands)
	As Previously Reported			Restatement Adjustments			As Restated
Net income	$	38,425		$	(17,415	)	$	21,010
Other comprehensive income:
Foreign currency translation loss	(11,614		)	869			(10,745		)
Foreign currency translation reclassification adjustment realized upon impairment	221			—			221
Loss on effective portion of cash flow hedge:
Other comprehensive gain before reclassifications	2,388			—			2,388
Amounts reclassified from accumulated other comprehensive income	(2,536		)	—			(2,536		)
Amounts reclassified from accumulated other comprehensive income	(1,721		)	—			(1,721		)
Reclassification adjustment for gain on available-for-sale securities included in net income	992			—			992
Income tax benefit	3,633			(287		)	3,346
Other comprehensive loss, net of tax	(8,637		)	582			(8,055		)
Comprehensive income	$	29,788		$	(16,833	)	$	12,955
Attributable to redeemable noncontrolling interest:
Net (loss) income	4,348			(5,646		)	(1,298		)
Foreign currency translation loss	(2,017		)	233			(1,784		)
Loss on effective portion of cash flow hedge	(59		)	—			(59		)
Comprehensive (loss) income attributable to redeemable noncontrolling interest	2,272			(5,413		)	(3,141		)
Comprehensive income attributable to EZCORP, Inc.	$	27,516		$	(11,420	)	$	16,096

EZCORP, Inc. CONSOLIDATED STATEMENT OF CASH FLOWS
	Fiscal Year Ended September 30, 2013
	(in thousands)
	As Previously Reported			Restatement Adjustments			As Restated
Operating activities:
Net income	$	38,425		$	(17,415	)	$	21,010
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	34,918			—			34,918
Accretion of debt premium and consumer loan discount, net	(248		)	—			(248		)
Consumer loan loss provision	30,740			3,406			34,146
Deferred income taxes	(14,854		)	(29		)	(14,883		)
Impairment of intangibles	—			1,600			1,600
Amortization of deferred financing costs	3,208			—			3,208
Amortization of prepaid commissions	4,182			391			4,573
Other	3,713			1,149			4,862
Loss on sale or disposal of assets	7,043			—			7,043
Stock compensation	7,314			(186		)	7,128
Income from investments in unconsolidated affiliates	(11,878		)	(1,362		)	(13,240		)
Impairment of investments	44,598			(1,400		)	43,198
Changes in operating assets and liabilities, net of business acquisitions:
Service charges and fees receivable, net	(7,143		)	10,555			3,412
Inventory, net	(9,722		)	—			(9,722		)
Prepaid expenses, other current assets and other assets, net	(17,671		)	—			(17,671		)
Accounts payable and other accrued expenses	16,766			4,517			21,283
Customer layaway deposits	1,416			—			1,416
Deferred gains and other long-term liabilities	(8,898		)	(1,352		)	(10,250		)
Tax benefit from stock compensation	(293		)	—			(293		)
Prepaid income taxes	(5,775		)	(5,880		)	(11,655		)
Dividends from unconsolidated affiliates	10,632			—			10,632
Net cash provided by operating activities	126,473			(6,006		)	120,467
Investing activities:
Loans made	(923,103		)	—			(923,103		)
Loans repaid	597,528			5,184			602,712
Recovery of pawn loan principal through sale of forfeited collateral	237,717			—			237,717
Additions to property and equipment	(46,698		)	—			(46,698		)
Acquisitions, net of cash acquired	(14,810		)	—			(14,810		)
Investments in unconsolidated affiliates	(11,018		)	—			(11,018		)
Net cash used in investing activities	(160,384		)	5,184			(155,200		)
Financing activities:
Proceeds from exercise of stock options	45			—			45
Tax benefit from stock compensation	293			—			293
Taxes paid related to net share settlement of equity awards	(3,640		)	—			(3,640		)
Debt issuance costs	(1,283		)	—			(1,283		)
Payout of deferred and contingent consideration	(13,277		)	—			(13,277		)
Purchase of subsidiary shares from noncontrolling interest	(627		)	—			(627		)
Contributions from noncontrolling interest	5,839			—			5,839
Change in restricted cash	(110		)	1,436			1,326
Proceeds from revolving line of credit	510,680			—			510,680
Payments on revolving line of credit	(470,000		)	—			(470,000		)
Proceeds from borrowings	(15,432		)	—			(15,432		)
Payments on borrowings and capital lease obligations	9,725			—			9,725
Net cash provided by financing activities	22,213			1,436			23,649
Effect of exchange rate changes on cash and cash equivalents	(462		)	822			360
Net decrease in cash and cash equivalents	(12,160		)	1,436			(10,724		)
Cash and cash equivalents at beginning of period	48,477			(8,653		)	39,824
Cash and cash equivalents at end of period	$	36,317		$	(7,217	)	$	29,100
Cash paid during the period for:
Interest	$	12,553		$	—		$	12,553
Income taxes	47,108			—			47,108
Non-cash investing and financing activities:
Pawn loans forfeited and transferred to inventory	$	261,837		$	—		$	261,837

EZCORP, Inc. CONSOLIDATED STATEMENT OF CASH FLOWS
Issuance of common stock due to acquisitions	38,705		—	38,705
Deferred consideration	25,872		—	25,872
Contingent consideration	248		—	248
Change in accrued additions to property and equipment	492		—	492
Issuance of common stock due to purchase of subsidiary shares from noncontrolling interest	10,404		—	10,404
Purchase of shares from noncontrolling interest	(788	)	—	(788	)
Issuance of common stock to 401(k) plan	556		—	556

EZCORP, Inc. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
	Common Stock			Additional Paid-in Capital						Accumulated Other Comprehensive (Loss) Income			Treasury Stock			EZCORP, Inc. Stockholders' Equity
	Shares	Par Value					Retained Earnings						Shares	Par Value
	(in thousands)
	As Previously Reported
Balances at September 30, 2012	51,226	$	512	$	268,626		$	565,803		$	(113	)	—	$	—	$	834,828
Issuance of common stock related to 401(k) match	30	1		556			—			—			—	—		557
Stock compensation	—	—		7,314			—			—			—	—		7,314
Stock options exercised	18	—		45			—			—			—	—		45
Issuance of common stock due to acquisitions	1,965	20		38,685			—			—			—	—		38,705
Issuance of common stock due to purchase of subsidiary shares from noncontrolling interest	592	6		10,398			—			—			—	—		10,404
Purchase of subsidiary shares from noncontrolling interest	—	—		(1,500		)	—			85			—	—		(1,415		)
Release of restricted stock	409	4		—			—			—			—	—		4
Excess tax benefit from stock compensation	—	—		293			—			—			—	—		293
Taxes paid related to net share settlement of equity awards	—	—		(3,640		)	—			—			—	—		(3,640		)
Effective portion of cash flow hedge	—	—		—			—			(89		)	—	—		(89		)
Unrealized loss on available-for-sale securities	—	—		—			—			(1,119		)	—	—		(1,119		)
Reclassification adjustment for loss on available-for-sale securities included in net income	—	—		—			—			992			—	—		992
Foreign currency translation adjustment	—	—		—			—			(6,651		)	—	—		(6,651		)
Foreign currency translation reclassification adjustment realized upon impairment	—	—		—			—			221			—	—		221
Net income attributable to EZCORP, Inc.	—	—		—			34,077			—			—	—		34,077
Balances at September 30, 2013	54,240	$	543	$	320,777		$	599,880		$	(6,674	)	—	$	—	$	914,526
	Restatement Adjustments
Balances at September 30, 2012	—	$	—	$	(54	)	$	(6,863	)	$	(120	)	—	$	—	$	(7,037	)
Stock compensation	—	—		(186		)	—			—			—	—		(186		)
Foreign currency translation adjustment	—	—		—			—			349			—	—		349
Net income attributable to EZCORP, Inc.	—	—		—			(11,769		)	—			—	—		(11,769		)
Balances at September 30, 2013	—	$	—	$	(240	)	$	(18,632	)	$	229		—	$	—	$	(18,643	)
	As Restated
Balances at September 30, 2012	51,226	$	512	$	268,572		$	558,940		$	(233	)	—	$	—	$	827,791
Issuance of common stock related to 401(k) match	30	1		556			—			—			—	—		557
Stock compensation	—	—		7,128			—			—			—	—		7,128
Stock options exercised	18	—		45			—			—			—	—		45
Issuance of common stock due to acquisitions	1,965	20		38,685			—			—			—	—		38,705
Issuance of common stock due to purchase of subsidiary shares from noncontrolling interest	592	6		10,398			—			—			—	—		10,404
Purchase of subsidiary shares from noncontrolling interest	—	—		(1,500		)	—			85			—	—		(1,415		)
Release of restricted stock	409	4		—			—			—			—	—		4
Excess tax benefit from stock compensation	—	—		293			—			—			—	—		293
Taxes paid related to net share settlement of equity awards	—	—		(3,640		)	—			—			—	—		(3,640		)
Effective portion of cash flow hedge	—	—		—			—			(89		)	—	—		(89		)
Unrealized loss on available-for-sale securities	—	—		—			—			(1,119		)	—	—		(1,119		)
Reclassification adjustment for loss on available-for-sale securities included in net income	—	—		—			—			992			—	—		992
Foreign currency translation adjustment	—	—		—			—			(6,302		)	—	—		(6,302		)
Foreign currency translation reclassification adjustment realized upon impairment	—	—		—			—			221			—	—		221
Net income attributable to EZCORP, Inc.	—	—		—			22,308			—			—	—		22,308
Balances at September 30, 2013	54,240	$	543	$	320,537		$	581,248		$	(6,445	)	—	$	—	$	895,883

The effects of the restatement on our consolidated financial statements for the fiscal year ended September 30, 2012 are set forth below.

EZCORP, Inc. CONSOLIDATED STATEMENT OF OPERATIONS
	Fiscal Year Ended September 30, 2012
	(in thousands, except per share amounts)
	As Previously Reported			Restatement Adjustments			As Restated
Revenues:
Merchandise sales	$	333,064		$	—		$	333,064
Jewelry scrapping sales	202,481			—			202,481
Pawn service charges	233,538			—			233,538
Consumer loan fees and interest	190,746			(2,998		)	187,748
Other revenues	4,673			(787		)	3,886
Total revenues	964,502			(3,785		)	960,717
Merchandise cost of goods sold	190,637			—			190,637
Jewelry scrapping cost of goods sold	130,715			—			130,715
Consumer loan bad debt	35,639			7,802			43,441
Net revenues	607,511			(11,587		)	595,924
Operating expenses:
Operations	328,793			56			328,849
Administrative	47,912			(39		)	47,873
Depreciation	21,851			—			21,851
Amortization	1,956			—			1,956
Gain on sale or disposal of assets	(249		)	—			(249		)
Total operating expenses	400,263			17			400,280
Operating income	207,248			(11,604		)	195,644
Interest income, net	(1,549		)	—			(1,549		)
Equity in net income of unconsolidated affiliates	(17,400		)	1,362			(16,038		)
Other income	(888		)	—			(888		)
Income from continuing operations before income taxes	227,085			(12,966		)	214,119
Income tax expense	71,165			(3,500		)	67,665
Income from continuing operations, net of tax	155,920			(9,466		)	146,454
Loss from discontinued operations, net of tax	(5,343		)	—			(5,343		)
Net income	150,577			(9,466		)	141,111
Net income from continuing operations attributable to redeemable noncontrolling interest	6,722			(2,603		)	4,119
Net income from discontinued operations attributable to redeemable noncontrolling interest	147			—			147
Net income attributable to EZCORP, Inc.	$	143,708		$	(6,863	)	$	136,845
Basic earnings (loss) per share attributable to EZCORP, Inc.:
Continuing operations	$	2.93		$	(0.13	)	$	2.80
Discontinued operations	(0.11		)	—			(0.11		)
Basic earnings per share	$	2.82		$	(0.13	)	$	2.69
Diluted earnings (loss) per share attributable to EZCORP, Inc.:
Continuing operations	$	2.92		$	(0.14	)	$	2.78
Discontinued operations	(0.11		)	—			(0.11		)
Diluted earnings per share	$	2.81		$	(0.14	)	$	2.67
Net income from continuing operations attributable to EZCORP, Inc.	$	149,198		$	(6,863	)	$	142,335
Loss from discontinued operations attributable to EZCORP, Inc.	(5,490		)	—			(5,490		)
Net income attributable to EZCORP, Inc.	$	143,708		$	(6,863	)	$	136,845

EZCORP, Inc. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
	Fiscal Year Ended September 30, 2012
	(in thousands)
	As Previously Reported			Restatement Adjustments			As Restated
Net income	$	150,577		$	(9,466	)	$	141,111
Other comprehensive income:
Foreign currency translation loss	(7		)	(294		)	(301		)
Unrealized holding loss on available-for-sale securities arising during period	(735		)	—			(735		)
Income tax benefit	2,330			94			2,424
Other comprehensive income, net of tax	1,588			(200		)	1,388
Comprehensive income	$	152,165		$	(9,666	)	$	142,499
Attributable to redeemable noncontrolling interest:
Net income	6,869			(2,603		)	4,266
Foreign currency translation gain	955			(80		)	875
Comprehensive income attributable to redeemable noncontrolling interest	7,824			(2,683		)	5,141
Comprehensive income attributable to EZCORP, Inc.	$	144,341		$	(6,983	)	$	137,358

EZCORP, Inc. CONSOLIDATED STATEMENT OF CASH FLOWS
	Fiscal Year Ended September 30, 2012
	(in thousands)
	As Previously Reported			Restatement Adjustments			As Restated
Operating activities:
Net income	$	150,577		$	(9,466	)	141,111
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	25,268			—			25,268
Accretion of debt premium and consumer loan discount, net	(15,091		)	—			(15,091		)
Consumer loan loss provision	17,833			2,407			20,240
Deferred income taxes	2,761			(1,471		)	1,290
Amortization of deferred financing costs	2,478			—			2,478
Amortization of prepaid commissions	396			71			467
Gain on sale or disposal of assets	(1		)	—			(1		)
Stock compensation	6,714			(54		)	6,660
Income from investments in unconsolidated affiliates	(17,400		)	1,362			(16,038		)
Changes in operating assets and liabilities, net of business acquisitions:
Service charges and fees receivable, net	(5,359		)	6,689			1,330
Inventory, net	(4,017		)	—			(4,017		)
Prepaid expenses, other current assets and other assets, net	(15,196		)	—			(15,196		)
Accounts payable and other accrued expenses	4,347			(2,751		)	1,596
Customer layaway deposits	218			—			218
Deferred gains and other long-term liabilities	(8,782		)	3,539			(5,243		)
Tax benefit from stock compensation	(1,602		)	—			(1,602		)
Prepaid income taxes	(7,787		)	(2,128		)	(9,915		)
Dividends from unconsolidated affiliates	5,560			—			5,560
Net cash provided by operating activities	140,917			(1,802		)	139,115
Investing activities:
Loans made	(802,896		)	—			(802,896		)
Loans repaid	520,193			2,002			522,195
Recovery of pawn loan principal through sale of forfeited collateral	240,381			—			240,381
Additions to property and equipment	(45,796		)	—			(45,796		)
Acquisitions, net of cash acquired	(128,647		)	—			(128,647		)
Net cash used in investing activities	(216,765		)	2,002			(214,763		)
Financing activities:
Proceeds from exercise of stock options	649			—			649
Tax provision from stock compensation	1,602			—			1,602
Taxes paid related to net share settlement of equity awards	(1,184		)	—			(1,184		)
Debt issuance costs	(3,225		)	—			(3,225		)
Change in restricted cash	(5,482		)	(8,653		)	(14,135		)
Proceeds from revolving line of credit	792,927			—			792,927
Payments on revolving line of credit	(679,986		)	—			(679,986		)
Proceeds from borrowings	2,461			—			2,461
Payments on borrowings and capital lease obligations	(8,496		)	—			(8,496		)
Net cash provided by financing activities	99,266			(8,653		)	90,613
Effect of exchange rate changes on cash and cash equivalents	1,090			(200		)	890
Net increase in cash and cash equivalents	24,508			(8,653		)	15,855
Cash and cash equivalents at beginning of period	23,969			—			23,969
Cash and cash equivalents at end of period	$	48,477		$	(8,653	)	$	39,824
Cash paid during the period for:
Interest	$	2,480		$	—		$	2,480
Income taxes	83,010			—			83,010
Non-cash investing and financing activities:
Pawn loans forfeited and transferred to inventory	$	248,090		$	—		$	248,090
Issuance of common stock due to acquisitions	17,984			—			17,984
Deferred consideration	938			—			938
Contingent consideration	23,432			—			23,432
Issuance of common stock to 401(k) plan	459			—			459

EZCORP, Inc. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
	Common Stock			Additional Paid-in Capital						Accumulated Other Comprehensive (Loss) Income			EZCORP, Inc. Stockholders' Equity
	Shares	Par Value					Retained Earnings
	(in thousands)
	As Previously Reported
Balances at September 30, 2011	50,199	$	501	$	242,398		$	422,095		$	(746	)	$	664,248
Issuance of common stock related to 401(k) match	19	—		459			—			—			459
Stock compensation	—	—		6,714			—			—			6,714
Stock options exercised	201	2		647			—			—			649
Issuance of common stock due to acquisitions	635	6		17,992			—			—			17,998
Release of restricted stock	172	1		—			—			—			1
Excess tax benefit from stock compensation	—	2		1,600			—			—			1,602
Taxes paid related to net share settlement of equity awards	—	—		(1,184		)	—			—			(1,184		)
Unrealized loss on available-for-sale securities	—	—		—			—			(478		)	(478		)
Foreign currency translation adjustment	—	—		—			—			1,111			1,111
Net income attributable to EZCORP, Inc.	—	—		—			143,708			—			143,708
Balances at September 30, 2012	51,226	$	512	$	268,626		$	565,803		$	(113	)	$	834,828
	Restatement Adjustments
Balances at September 30, 2011	—	$	—	$	—		$	—		$	—		$	—
Stock compensation	—	—		(54		)	—			—			(54		)
Foreign currency translation adjustment	—	—		—			—			(120		)	(120		)
Net income attributable to EZCORP, Inc.	—	—		—			(6,863		)	—			(6,863		)
Balances at September 30, 2012	—	$	—	$	(54	)	$	(6,863	)	$	(120	)	$	(7,037	)
	As Restated
Balances at September 30, 2011	50,199	$	501	$	242,398		$	422,095		$	(746	)	$	664,248
Issuance of common stock related to 401(k) match	19	—		459			—			—			459
Stock compensation	—	—		6,660			—			—			6,660
Stock options exercised	201	2		647			—			—			649
Issuance of common stock due to acquisitions	635	6		17,992			—			—			17,998
Release of restricted stock	172	1		—			—			—			1
Excess tax benefit from stock compensation	—	2		1,600			—			—			1,602
Taxes paid related to net share settlement of equity awards	—	—		(1,184		)	—			—			(1,184		)
Unrealized loss on available-for-sale securities	—	—		—			—			(478		)	(478		)
Foreign currency translation adjustment	—	—		—			—			991			991
Net income attributable to EZCORP, Inc.	—	—		—			136,845			—			136,845
Balances at September 30, 2012	51,226	$	512	$	268,572		$	558,940		$	(233	)	$	827,791

See Note 19 for the restated unaudited financial statements for each of the fiscal quarters within fiscal 2014, 2013 and 2012 (other than the first quarter of fiscal 2012, which was not restated).