Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 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 June 30, 2016 and 2015 and September 30, 2015:

	June 30, 2016			Fair Value Measurements Using
Financial assets (liabilities)				Level 1		Level 2			Level 3
	(in thousands)
Foreign currency forwards	$	7,044		$	—	$	7,044		$	—
Cash Convertible Notes Hedges	16,200			—		16,200			—
Cash Convertible Notes Embedded Derivative	(16,200		)	—		(16,200		)	—
Net financial assets	$	7,044		$	—	$	7,044		$	—
	June 30, 2015			Fair Value Measurements Using
Financial assets (liabilities)				Level 1		Level 2			Level 3
	(in thousands)
Foreign currency forwards	$	11,273		$	—	$	11,273		$	—
Holding Period Adjustment	47			—		47			—
Cash Convertible Notes Hedges	23,160			—		23,160			—
Cash Convertible Notes Embedded Derivative	(23,160		)	—		(23,160		)	—
Contingent consideration	(2,836		)	—		—			(2,836		)
Net financial assets (liabilities)	$	8,484		$	—	$	11,320		$	(2,836	)
	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 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 June 30, 2016 and 2015 and September 30, 2015 that were not measured at fair value in our condensed consolidated balance sheets, inclusive of Grupo Finmart balances as discussed in Note 2, are as follows:

	Carrying Value			Estimated Fair Value
	June 30, 2016			June 30, 2016		Fair Value Measurement Using
						Level 1		Level 2		Level 3
	(in thousands)
Financial assets:
Cash and cash equivalents	$	29,380		$	29,380	$	29,380	$	—	$	—
Cash and cash equivalents — discontinued operations*	1,728			1,728		1,728		—		—
Restricted cash	5,000			5,000		5,000		—		—
Restricted cash — discontinued operations*	11,654			11,654		11,654		—		—
Pawn loans	160,269			160,269		—		—		160,269
Consumer loans, net — discontinued operations*	19,905			34,896		—		—		34,896
Pawn service charges receivable, net	29,643			29,643		—		—		29,643
Consumer loan fees and interest receivable, net — discontinued operations*	11,390			11,390		—		—		11,390
Investment in unconsolidated affiliate	57,656			49,194		49,194		—		—
Restricted cash, non-current — discontinued operations*	2,226			2,226		2,226		—		—
Non-current consumer loans, net — discontinued operations*	51,504			90,291		—		—		90,291
	$	380,355		$	425,671	$	99,182	$	—	$	326,489
Temporary equity:
Redeemable noncontrolling interest — discontinued operations*	$	(2,410	)	$	3,109	$	—	$	—	$	3,109
Financial liabilities:
Cash Convertible Notes	$	195,221		$	190,762	$	—	$	190,762	$	—
Foreign currency debt — discontinued operations*	14,826			15,079		—		15,079		—
Consumer loans facility due 2019 — discontinued operations*	25,669			25,894		—		25,894		—
Foreign currency unsecured notes — discontinued operations*	17,665			17,772		—		17,772		—
Foreign currency secured notes — discontinued operations*	18,068			18,722		—		18,722		—
Secured notes consolidated from VIEs — discontinued operations*	40,843			37,779		—		37,779		—
	$	312,292		$	306,008	$	—	$	306,008	$	—

	Carrying Value		Estimated Fair Value
	June 30, 2015		June 30, 2015		Fair Value Measurement Using
					Level 1		Level 2		Level 3
	(in thousands)
Financial assets:
Cash and cash equivalents	$	113,405	$	113,405	$	113,405	$	—	$	—
Cash and cash equivalents — discontinued operations*	982		982		982		—		—
Restricted cash	218		218		218		—		—
Restricted cash — discontinued operations*	27,797		27,797		27,797		—		—
Pawn loans	144,377		144,377		—		—		144,377
Consumer loans, net — discontinued operations*	36,719		47,605		—		—		47,605
Pawn service charges receivable, net	26,989		26,989		—		—		26,989
Consumer loan fees and interest receivable, net — discontinued operations*	13,595		13,595		—		—		13,595
Investment in unconsolidated affiliate	90,423		81,426		81,426		—		—
Restricted cash, non-current — discontinued operations*	2,978		2,978		2,978		—		—
Non-current consumer loans, net — discontinued operations*	82,739		107,268		—		—		107,268
	$	540,222	$	566,640	$	226,806	$	—	$	339,834
Temporary equity:
Common Stock, subject to possible redemption	$	11,696	$	11,241	$	—	$	—	$	11,241
Redeemable noncontrolling interest — discontinued operations*	16,318		33,297		—		—		33,297
	$	28,014	$	44,538	$	—	$	—	$	44,538
Financial liabilities:
Cash Convertible Notes	$	184,765	$	181,746	$	—	$	181,746	$	—
Foreign currency debt — discontinued operations*	20,602		23,667		—		23,667		—
Consumer loans facility due 2019 — discontinued operations*	43,900		45,843		—		45,843		—
Foreign currency unsecured notes — discontinued operations*	18,082		18,536		—		18,536		—
Foreign currency secured notes — discontinued operations*	22,117		25,639		—		25,639		—
Secured notes consolidated from VIEs — discontinued operations*	86,815		83,640		—		83,640		—
	$	376,281	$	379,071	$	—	$	379,071	$	—

	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	$	56,244	$	56,244	$	56,244	$	—	$	—
Cash and cash equivalents — discontinued operations*	2,880		2,880		2,880		—		—
Restricted cash	144		144		144		—		—
Restricted cash — discontinued operations*	14,993		14,993		14,993		—		—
Pawn loans	159,964		159,964		—		—		159,964
Consumer loans, net — discontinued operations*	31,824		43,731		—		—		43,731
Pawn service charges receivable, net	30,852		30,852		—		—		30,852
Consumer loan fees and interest receivable, net — discontinued operations*	19,105		19,105		—		—		19,105
Investment in unconsolidated affiliate	56,182		56,182		56,182		—		—
Restricted cash, non-current — discontinued operations*	2,883		2,883		2,883		—		—
Non-current consumer loans, net — discontinued operations*	75,824		104,194		—		—		104,194
	$	450,895	$	491,172	$	133,326	$	—	$	357,846
Temporary equity:
Common stock, subject to possible redemption	$	11,696	$	11,438	$	—	$	—	$	11,438
Redeemable noncontrolling interest — discontinued operations*	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 — discontinued operations*	18,505		19,851		—		19,851		—
Consumer loans facility due 2019 — discontinued operations*	40,493		40,774		—		40,774		—
Foreign currency unsecured notes — discontinued operations*	20,987		20,477		—		20,477		—
Foreign currency secured notes — discontinued operations*	20,286		22,476		—		22,476		—
Secured notes consolidated from VIEs — discontinued operations*	73,264		68,685		—		68,685		—
	$	361,006	$	341,313	$	—	$	341,313	$	—

* See Note 1 for discussion of operations discontinued subsequent to the adoption of ASU 2014-08.