Fair Value Measurements (Tables)

3 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Financial assets (liabilities) 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 December 31, 2015 and 2014 and September 30, 2015:

	December 31, 2015			Fair Value Measurements Using
Financial assets (liabilities)				Level 1		Level 2			Level 3
	(in thousands)
Foreign currency forwards	$	9,499		$	—	$	9,499		$	—
Cash Convertible Notes Hedges	7,777			—		7,777			—
Cash Convertible Notes Embedded Derivative	(7,777		)	—		(7,777		)	—
Phantom share-based awards	(2,099		)	—		—			(2,099		)
Contingent consideration	(2,601		)	—		—			(2,601		)
Net financial assets (liabilities)	$	4,799		$	—	$	9,499		$	(4,700	)
	December 31, 2014			Fair Value Measurements Using
Financial assets (liabilities)				Level 1		Level 2			Level 3
	(in thousands)
Foreign currency forwards	$	9,987		$	—	$	9,987		$	—
Cash Convertible Notes Hedges	45,163			—		45,163			—
Cash Convertible Notes Embedded Derivative	(45,163		)	—		(45,163		)	—
Contingent consideration	(3,440		)	—		—			(3,440		)
Net financial assets (liabilities)	$	6,547		$	—	$	9,987		$	(3,440	)
	September 30, 2015			Fair Value Measurements Using
Financial assets (liabilities)				Level 1		Level 2			Level 3
	(in thousands)
Foreign currency forwards	$	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	(2,601		)	—		—			(2,601		)
Net financial assets (liabilities)	$	7,640		$	—	$	14,173		$	(6,533	)

Fair Value Measurements, Recurring and Nonrecurring, 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, temporary equity, and liabilities not measured at fair value in the consolidated balance sheet

Our financial assets, temporary equity and financial liabilities as of December 31, 2015 and 2014 and September 30, 2015 that are not measured at fair value in our condensed consolidated balance sheets are as follows:

	Carrying Value			Estimated Fair Value
	December 31, 2015			December 31, 2015		Fair Value Measurement Using
						Level 1		Level 2		Level 3
	(in thousands)
Financial assets:
Cash and cash equivalents	$	22,781		$	22,781	$	22,781	$	—	$	—
Restricted cash	16,157			16,157		16,157		—		—
Pawn loans	157,905			157,905		—		—		157,905
Consumer loans, net	32,175			32,715		—		—		32,715
Pawn service charges receivable, net	31,342			31,342		—		—		31,342
Consumer loan fees and interest receivable, net	12,827			12,827		—		—		12,827
Investment in unconsolidated affiliate	53,404			58,773		58,773		—		—
Restricted cash, non-current	2,667			2,667		2,667		—		—
Non-current consumer loans, net	71,502			72,789		—		—		72,789
	$	400,760		$	407,956	$	100,378	$	—	$	307,578
Temporary equity:
Common Stock, subject to possible redemption	$	11,696		$	11,639	$	—	$	—	$	11,639
Redeemable noncontrolling interest	2,379			5,467		—		—		5,467
	$	14,075		$	17,106	$	—	$	—	$	17,106
Financial liabilities:
Cash Convertible Notes	$	190,089		$	156,400	$	—	$	156,400	$	—
Foreign currency debt	17,802		*	18,720		—		18,720		—
Consumer loans facility due 2019	40,080			39,694		—		39,694		—
Foreign currency unsecured notes	19,893		*	20,521		—		20,521		—
Foreign currency secured notes	20,034		*	21,814		—		21,814		—
Secured notes consolidated from VIEs	61,456		*	55,090		—		55,090		—
	$	349,354		$	312,239	$	—	$	312,239	$	—

	Carrying Value			Estimated Fair Value
	December 31, 2014			December 31, 2014		Fair Value Measurement Using
						Level 1		Level 2		Level 3
	(in thousands)
Financial assets:
Cash and cash equivalents	$	77,599		$	77,599	$	77,599	$	—	$	—
Restricted cash	60,218			60,218		60,218		—		—
Pawn loans	150,930			150,930		—		—		150,930
Consumer loans, net	61,347			61,936		—		—		61,936
Pawn service charges receivable, net	30,241			30,241		—		—		30,241
Consumer loan fees and interest receivable, net	13,199			13,199		—		—		13,199
Investment in unconsolidated affiliate	99,219			123,932		123,932		—		—
Restricted cash, non-current	4,310			4,310		4,310		—		—
Non-current consumer loans, net	78,362			79,615		—		—		79,615
	$	575,425		$	601,980	$	266,059	$	—	$	335,921
Temporary equity:
Redeemable noncontrolling interest	$	18,550		$	44,771	$	—	$	—	$	44,771
Financial liabilities:
Cash Convertible Notes	$	179,796		$	185,461	$	—	$	185,461	$	—
Foreign currency debt	23,199		*	23,952		—		23,952		—
Consumer loans facility due 2019	46,110			49,604		—		49,604		—
Foreign currency unsecured notes	18,461		*	18,787		—		18,787		—
Foreign currency secured notes	23,535		*	23,957		—		23,957		—
Secured notes consolidated from VIEs	113,168		*	111,523		—		111,523		—
	$	404,269		$	413,284	$	—	$	413,284	$	—

	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	$	59,124		$	59,124	$	59,124	$	—	$	—
Restricted cash	15,137			15,137		15,137		—		—
Pawn loans	159,964			159,964		—		—		159,964
Consumer loans, net	36,533			37,559		—		—		37,559
Pawn service charges receivable, net	30,852			30,852		—		—		30,852
Consumer loan fees and interest receivable, net	19,802			19,802		—		—		19,802
Investment in unconsolidated affiliate	56,182			56,182		56,182		—		—
Restricted cash, non-current	2,883			2,883		2,883		—		—
Non-current consumer loans, net	75,824			77,644		—		—		77,644
	$	456,301		$	459,147	$	133,326	$	—	$	325,821
Temporary equity:
Common stock, subject to possible redemption	$	11,696		$	11,438	$	—	$	—	$	11,438
Redeemable noncontrolling interest	3,235			5,467		—		—		5,467
	$	14,931		$	16,905	$	—	$	—	$	16,905
Financial liabilities:
Cash Convertible Notes	$	187,471		$	169,050	$	—	$	169,050	$	—
Foreign currency debt	18,505		*	19,851		—		19,851		—
Consumer loans facility due 2019	40,493			40,774		—		40,774		—
Foreign currency unsecured notes	20,987		*	20,477		—		20,477		—
Foreign currency secured notes	20,286		*	22,476		—		22,476		—
Secured notes consolidated from VIEs	73,264		*	68,685		—		68,685		—
	$	361,006		$	341,313	$	—	$	341,313	$	—

* Portions of these amounts are included in "Current maturities of long-term debt" and "Long-term debt, less current maturities" in our condensed consolidated balance sheets.