Strategic Investments

3 Months Ended

Dec. 31, 2017

Equity Method Investments and Joint Ventures [Abstract]

NOTE 4: STRATEGIC INVESTMENTS

As of December 31, 2017, we owned 156,552,484 shares, or approximately 32%, of our unconsolidated affiliate Cash Converters International Limited ("Cash Converters International"). The following tables present summary financial information for Cash Converters International’s most recently reported results as of December 31, 2017 after translation to U.S. dollars:



	June 30,
	2017		2016

	(in thousands)
Current assets	$	155,749	$	173,830
Non-current assets	150,843		141,028
Total assets	$	306,592	$	314,858

Current liabilities	$	57,387	$	83,275
Non-current liabilities	48,698		51,873
Shareholders’ equity	200,507		179,710
Total liabilities and shareholders’ equity	$	306,592	$	314,858



	Fiscal Year Ended June 30,
	2017		2016

	(in thousands)
Gross revenues	$	204,684	$	225,712
Gross profit	130,943		146,286
Net profit (loss)	15,546		(3,839		)

During the current quarter, 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 carrying value 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. 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 5 for the fair value and carrying value of our investment in Cash Converters International.