Strategic Investments

9 Months Ended

Jun. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

STRATEGIC INVESTMENTS

NOTE 4: STRATEGIC INVESTMENTS

As of June 30, 2018, we owned 214,183,714 shares, or approximately 34.75%, of our unconsolidated affiliate Cash Converters International Limited. We acquired 57,631,230 shares in June 2018 for $14.0 million (increasing our ownership by three percentage points) in connection with an underwritten placement of approximately 123.3 million shares by Cash Converters International for AUD 39.5 million, excluding costs. Cash Converters International stated it will use the proceeds from the offering to reduce outstanding indebtedness and provide additional capital to pursue growth opportunities while maintaining sufficient working capital. Our participation in this offering, including our incremental equity ownership, does not change our conclusion to account for our investment in Cash Converters International under the equity method. The following tables present summary financial information for Cash Converters International’s most recently reported results as of June 30, 2018 after translation to U.S. dollars:

	December 31,
	2017		2016
	(in thousands)
Current assets	$	203,664	$	158,235
Non-current assets	151,189		141,218
Total assets	$	354,853	$	299,453
Current liabilities	$	128,731	$	70,468
Non-current liabilities	14,559		48,181
Shareholders’ equity	211,563		180,804
Total liabilities and shareholders’ equity	$	354,853	$	299,453

	Half-Year Ended December 31,
	2017		2016
	(in thousands)
Gross revenues*	$	95,784	$	105,816
Gross profit*	32,572		38,533
Net profit	7,292		8,633

* Certain reclassifications of prior period amounts have been made. These reclassifications were made to conform to the current period presentation included in the report of Cash Converters International for the half year ended December 31, 2016.