Strategic Investments

3 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

NOTE 5: STRATEGIC INVESTMENTS

As of December 31, 2019, we owned 214,183,714 shares, or approximately 34.75%, of Cash Converters International Limited ("Cash Converters International"). The following tables present summary financial information for Cash Converters International’s most recently reported results after translation to U.S. dollars:



	June 30,
	2019		2018

	(in thousands)
Current assets	$	173,826	$	229,105
Non-current assets	152,483		148,195
Total assets	$	326,309	$	377,300

Current liabilities	$	77,434	$	122,924
Non-current liabilities	26,163		15,449
Shareholders’ equity	222,712		238,927
Total liabilities and shareholders’ equity	$	326,309	$	377,300



	Fiscal Year Ended June 30,
	2019			2018

	(in thousands)
Gross revenues	$	201,365		$	201,800
Gross profit	111,932			128,366
Net (loss) profit	(1,210		)	17,443

On October 21, 2019, Cash Converters International agreed to settle a class action lawsuit previously filed on behalf of borrowers residing in Queensland, Australia who took out personal loans from Cash Converters International between July 30, 2009 and June 30, 2013. Cash Converters International agreed to pay AUD $42.5 million, subject to court approval. We recorded a charge, net of tax, of $7.1 million for our proportionate share of the settlement in the current quarter related to this event, in addition to our regularly included share of earnings from Cash Converters International. Cash Converters International has indicated that it expects to pay the settlement amount with cash on hand and cash flow from operations.