Strategic Investments

9 Months Ended

Jun. 30, 2016

Equity Method Investments and Joint Ventures [Abstract]

STRATEGIC INVESTMENTS

NOTE 5: STRATEGIC INVESTMENTS

As of June 30, 2016, we owned 151,948,000 shares, or approximately 31%, of our unconsolidated affiliate Cash Converters International, including a nominal reduction in ownership interest during the three-months ended June 30, 2016 as a result of the issuance of additional Cash Converters International shares. The following tables present summary financial information for Cash Converters International’s most recently reported results as of June 30, 2016 after translation to U.S. dollars:

	December 31,
	2015		2014
	(in thousands)
Current assets	$	176,105	$	200,682
Non-current assets	143,466		157,737
Total assets	$	319,571	$	358,419
Current liabilities	$	68,857	$	75,700
Non-current liabilities	48,263		54,256
Shareholders’ equity:
Equity attributable to owners of the parent	202,450		228,462
Noncontrolling interest	1		1
Total liabilities and shareholders’ equity	$	319,571	$	358,419

	Half Year Ended December 31,
	2015		2014
	(in thousands)
Gross revenues	$	143,575	$	167,206
Gross profit	93,573		104,852
Profit (loss) attributable to:
Owners of the parent	$	11,483	$	(4,717	)
Noncontrolling interest	—		(179		)
Profit (loss) for the year	$	11,483	$	(4,896	)

During the three-months ended June 30, 2016, the fair value of our investment in Cash Converters International declined below its carrying value. We considered the guidance in FASB ASC 320-10-S99-1 in evaluating whether the impairment was other-than-temporary and whether to measure and recognize any other-than-temporary impairment. We noted the primary factors in determining that the decline in fair value was not other-than-temporary were the length of time and the extent to which the market value has been less than cost as well as our intent and ability to hold our investment in Cash Converters International for a period of time sufficient to allow for any anticipated recovery in market value. We do not believe the decline in fair value is other-than-temporary as of June 30, 2016. We continue to monitor the fair value of our investment in Cash Converters International for other-than-temporary impairments in future reporting periods and may record an impairment charge should the fair value of our investment in Cash Converters International remain below its carrying value for an extended period of time. See Note 14 for the fair value and carrying value of our investment in Cash Converters International.