Fair Value Measurements (Tables)

6 Months Ended

Mar. 31, 2016

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 March 31, 2016 and 2015 and September 30, 2015:

	March 31, 2016			Fair Value Measurements Using
Financial assets (liabilities)				Level 1		Level 2			Level 3
	(in thousands)
Foreign currency forwards	$	7,694		$	—	$	7,694		$	—
Cash Convertible Notes Hedges	3,219			—		3,219			—
Cash Convertible Notes Embedded Derivative	(3,219		)	—		(3,219		)	—
Contingent consideration	(2,575		)	—		—			(2,575		)
Net financial assets (liabilities)	$	5,119		$	—	$	7,694		$	(2,575	)
	March 31, 2015			Fair Value Measurements Using
Financial assets (liabilities)				Level 1		Level 2			Level 3
	(in thousands)
Foreign currency forwards	$	8,563		$	—	$	8,563		$	—
Holding Period Adjustment	132			—		132			—
Cash Convertible Notes Hedges	27,215			—		27,215			—
Cash Convertible Notes Embedded Derivative	(27,215		)	—		(27,215		)	—
Contingent consideration	(2,914		)	—		—			(2,914		)
Net financial assets (liabilities)	$	5,781		$	—	$	8,695		$	(2,914	)
	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 March 31, 2016 and 2015 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
	March 31, 2016				March 31, 2016		Fair Value Measurement Using
							Level 1		Level 2		Level 3
	(in thousands)
Financial assets:
Cash and cash equivalents	$	75,336			$	75,336	$	75,336	$	—	$	—
Restricted cash	13,817				13,817		13,817		—		—
Pawn loans	140,195				140,195		—		—		140,195
Consumer loans, net	26,362				42,975		—		—		42,975
Pawn service charges receivable, net	27,626				27,626		—		—		27,626
Consumer loan fees and interest receivable, net	13,226				13,226		—		—		13,226
Investment in unconsolidated affiliate	56,677				59,307		59,307		—		—
Restricted cash, non-current	2,308				2,308		2,308		—		—
Non-current consumer loans, net	62,673				105,879		—		—		105,879
	$	418,220			$	480,669	$	150,768	$	—	$	329,901
Temporary equity:
Redeemable noncontrolling interest	$	(1,229	)		$	2,894	$	—	$	—	$	2,894
Financial liabilities:
Cash Convertible Notes	$	192,565			$	156,400	$	—	$	156,400	$	—
Foreign currency debt	17,475			*	17,880		—		17,880		—
Consumer loans facility due 2019	33,613				38,312		—		38,312		—
Foreign currency unsecured notes	17,097			*	19,793		—		19,793		—
Foreign currency secured notes	20,132			*	20,678		—		20,678		—
Secured notes consolidated from VIEs	50,881			*	47,592		—		47,592		—
	$	331,763			$	300,655	$	—	$	300,655	$	—

	Carrying Value			Estimated Fair Value
	March 31, 2015			March 31, 2015		Fair Value Measurement Using
						Level 1		Level 2		Level 3
	(in thousands)
Financial assets:
Cash and cash equivalents	$	138,173		$	138,173	$	138,173	$	—	$	—
Restricted cash	47,909			47,909		47,909		—		—
Pawn loans	127,929			127,929		—		—		127,929
Consumer loans, net	55,529			75,184		—		—		75,184
Pawn service charges receivable, net	24,909			24,909		—		—		24,909
Consumer loan fees and interest receivable, net	13,063			13,063		—		—		13,063
Investment in unconsolidated affiliate	94,510			105,150		105,150		—		—
Restricted cash, non-current	2,880			2,880		2,880		—		—
Non-current consumer loans, net	79,860			122,286		—		—		122,286
	$	584,762		$	657,483	$	294,112	$	—	$	363,371
Temporary equity:
Common Stock, subject to possible redemption	$	11,696		$	11,049	$	—	$	—	$	11,049
Redeemable noncontrolling interest	16,827			43,048		—		—		43,048
	$	28,523		$	54,097	$	—	$	—	$	54,097
Financial liabilities:
Cash Convertible Notes	$	182,276		$	195,233	$	—	$	195,233	$	—
Foreign currency debt	21,726		*	24,213		—		24,213		—
Consumer loans facility due 2019	44,837			46,982		—		46,982		—
Foreign currency unsecured notes	18,163		*	18,550		—		18,550		—
Foreign currency secured notes	22,080		*	25,650		—		25,650		—
Secured notes consolidated from VIEs	100,134		*	97,712		—		97,712
	$	389,216		$	408,340	$	—	$	408,340	$	—

	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			48,440		—		—		48,440
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			104,194		—		—		104,194
	$	456,301		$	496,578	$	133,326	$	—	$	363,252
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.