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Document and Entity Information - USD ($) $ in Millions	6 Months Ended
Document and Entity Information - USD ($) $ in Millions	Mar. 31, 2011	Mar. 31, 2010
Statement [Line Items]
Entity Registrant Name	EZCORP INC
Entity Central Index Key	0000876523
Document Type	10-Q
Document Period End Date	Mar. 31, 2011
Amendment Flag	false
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--09-30
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float		$ 921
Common Class A Non-voting
Statement [Line Items]
Entity Common Stock, Shares Outstanding	46,954,535
Common Class B Voting
Statement [Line Items]
Entity Common Stock, Shares Outstanding	2,970,171

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Mar. 31, 2011	Mar. 31, 2010	Sep. 30, 2010
Current assets:
Cash and cash equivalents	$ 59,785	$ 51,192	$ 25,854
Pawn loans	106,525	89,040	121,201
Signature loans, net	9,926	7,287	10,775
Auto title loans, net	2,022	1,939	3,145
Pawn service charges receivable, net	19,976	16,353	21,626
Signature loan fees receivable, net	4,841	4,607	5,818
Auto title loan fees receivable, net	1,185	850	1,616
Inventory, net	70,275	56,403	71,502
Deferred tax asset	23,319	15,673	23,208
Income tax receivable	1,427	13,414	0
Prepaid expenses and other assets	20,045	15,625	17,427
Total current assets	319,326	272,383	302,172
Investments in unconsolidated affiliates	112,364	90,854	101,386
Property and equipment, net	70,105	54,044	62,293
Deferred tax asset, non-current	0	5,318	60
Goodwill	143,404	101,456	117,305
Other assets, net	23,694	22,223	23,196
Total assets	668,893	546,278	606,412
Current liabilities:
Current maturities of long-term debt	10,000	10,000	10,000
Accounts payable and other accrued expenses	44,754	38,592	49,663
Customer layaway deposits	6,844	4,487	6,109
Income taxes payable	0	0	3,687
Total current liabilities	61,598	53,079	69,459
Long-term debt, less current maturities	10,000	20,000	15,000
Deferred tax liability	1,192	0	0
Deferred gains and other long-term liabilities	2,314	2,735	2,525
Total liabilities	$ 75,104	$ 75,814	$ 86,984
Commitments and contingencies
Stockholders' equity:
Additional paid-in capital	$ 231,263	$ 222,423	$ 225,374
Retained earnings	359,203	252,122	299,936
Accumulated other comprehensive income (loss)	2,824	(4,573)	(6,375)
Total stockholders' equity	593,789	470,464	519,428
Total liabilities and stockholders' equity	668,893	546,278	606,412
Common Class A Non-voting
Stockholders' equity:
Common stock	469	462	463
Common Class B Voting
Stockholders' equity:
Common stock	$ 30	$ 30	$ 30

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2011	Mar. 31, 2010	Mar. 31, 2011	Mar. 31, 2010
Revenues:
Sales	$ 125,768	$ 102,536	$ 248,313	$ 204,594
Pawn service charges	46,769	38,306	96,579	79,103
Signature loan fees	35,103	31,642	75,169	70,320
Auto title loan fees	5,369	3,956	11,613	7,058
Other	245	144	406	260
Total revenues	213,254	176,584	432,080	361,335
Cost of goods sold	76,564	62,162	150,130	124,732
Signature loan bad debt	5,438	4,397	15,484	13,187
Auto title loan bad debt	302	320	1,284	780
Net revenues	130,950	109,705	265,182	222,636
Operating expenses:
Operations	66,045	58,205	130,549	116,386
Administrative	15,733	13,483	41,871	25,780
Depreciation and amortization	4,466	3,573	8,645	6,929
(Gain) loss on sale / disposal of assets	(178)	356	(171)	567
Total operating expenses	86,066	75,617	180,894	149,662
Operating income	44,884	34,088	84,288	72,974
Interest income	(11)	(8)	(14)	(16)
Interest expense	300	395	600	760
Equity in net income of unconsolidated affiliates	(4,691)	(3,306)	(8,058)	(4,589)
Other	4	12	(57)	(3)
Income before income taxes	49,282	36,995	91,817	76,822
Income tax expense	17,444	13,222	32,550	27,342
Net income	$ 31,838	$ 23,773	$ 59,267	$ 49,480
Net income per common share:
Basic	$ 0.64	$ 0.49	$ 1.19	$ 1.01
Diluted	$ 0.63	$ 0.48	$ 1.18	$ 1.00
Weighted average shares outstanding:
Basic	49,924	48,987	49,810	48,853
Diluted	50,362	49,558	50,243	49,486

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Operating Activities:
Net income	$ 59,267	$ 49,480
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,645	6,929
Signature loan and auto title loan loss provisions	6,863	4,530
Deferred taxes	1,167	992
(Gain) loss on sale or disposal of assets	(171)	567
Stock compensation	10,028	2,344
Equity in net income of unconsolidated affiliates	(8,058)	(4,589)
Changes in operating assets and liabilities, net of business acquisitions:
Service charges and fees receivable, net	3,647	2,559
Inventory, net	830	2,153
Prepaid expenses, other current assets, and other assets, net	(2,174)	(4,264)
Accounts payable and accrued expenses	(5,648)	4,469
Customer layaway deposits	629	302
Deferred gains and other long-term liabilities	(156)	(525)
Excess tax benefit from stock compensation	(3,072)	(1,645)
Income taxes	(1,913)	(12,223)
Net cash provided by operating activities	69,884	51,079
Investing Activities:
Loans made	(292,544)	(243,563)
Loans repaid	203,672	169,503
Recovery of pawn loan principal through sale of forfeited collateral	104,547	89,013
Additions to property and equipment	(15,248)	(9,619)
Proceeds on disposal of assets		1,347
Acquisitions, net of cash acquired	(31,461)	(31)
Investments in unconsolidated affiliates		(50,932)
Dividends from unconsolidated affiliates	4,218	1,689
Net cash used in investing activities	(26,816)	(42,593)
Financing Activities:
Proceeds from exercise of stock options	205	1,294
Excess tax benefit from stock compensation	3,072	1,645
Debt issuance costs		3
Taxes paid related to net share settlement of equity awards	(7,409)
Payments on bank borrowings	(5,005)	(5,000)
Net cash used in financing activities	(9,137)	(2,058)
Change in cash and cash equivalents	33,931	6,428
Cash and cash equivalents at beginning of period	25,854	44,764
Cash and cash equivalents at end of period	59,785	51,192
Non-cash Investing and Financing Activities:
Pawn loans forfeited and transferred to inventory	102,145	83,339
Foreign currency translation adjustment	$ (8,708)	(47)
Acquisition-related stock issuance		$ (31)

Significant Accounting Policies	6 Months Ended
Significant Accounting Policies	Mar. 31, 2011
Significant Accounting Policies [Abstract]
Significant Accounting Policies	Note B: Significant Accounting Policies *Consolidation:* The consolidated financial statements include the accounts of EZCORP, Inc. and its wholly owned subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation. We account for our investments in Albemarle & Bond Holdings, PLC and Cash Converters International Limited using the equity method. *Pawn Loan and Sales Revenue Recognition:* We record pawn service charges using the interest method for all pawn loans we believe to be collectible. We base our estimate of collectible loans on several factors, including recent redemption rates, historical trends in redemption rates and the amount of loans due in the following two months. Unexpected variations in any of these factors could change our estimate of collectible loans, affecting our earnings and financial condition. If a pawn loan is not repaid, we value the forfeited collateral (inventory) at the lower of cost (pawn loan principal) or market value of the property. We record sales revenue and the related cost when this inventory is sold, or when we receive the final payment on a layaway sale. Sales tax collected upon the sale of inventory is excluded from the amount recognized as sales and instead recorded as a liability in “Accounts payable and other accrued expenses” on our balance sheets until remitted to the appropriate governmental authorities. *Signature Loan Credit Service Fee Revenue Recognition:* We earn credit service fees when we assist customers in obtaining signature loans from unaffiliated lenders. We initially defer recognition of the fees we expect to collect, net of direct expenses, and recognize that deferred net amount over the life of the related loans. We reserve the percentage of credit service fees we expect not to collect. Accrued fees related to defaulted loans reduce credit service fee revenue upon loan default, and increase credit service fee revenue upon collection. Signature loan credit service fee revenue is included in “Signature loan fees” on our statements of operations. *Signature Loan Credit Service Bad Debt:* We issue letters of credit to enhance the creditworthiness of our customers seeking signature loans from unaffiliated lenders. The letters of credit assure the lenders that if borrowers default on the loans, we will pay the lenders, upon demand, the principal and accrued interest owed to the lenders by the borrowers plus any insufficient funds fees and late fees. Although amounts paid under letters of credit may be collected later, we charge those amounts to signature loan bad debt upon default. We record recoveries under the letters of credit as a reduction of bad debt at the time of collection. After attempting collection of bad debts internally, we occasionally sell them to an unaffiliated company as another method of recovery, and record the proceeds from such sales as a reduction of bad debt at the time of the sale. The majority of our credit service customers obtain short-term signature loans with a single maturity date. These short-term loans, with maturity dates averaging about 16 days, are considered defaulted if they have not been repaid or renewed by the maturity date. Other credit service customers obtain installment loans with a series of payments due over as much as a five-month period. If one payment of an installment loan is delinquent, that one payment is considered defaulted. If more than one installment payment is delinquent at any time, the entire loan is considered defaulted. *Allowance for Losses on Signature Loan Credit Services:* We provide an allowance for losses we expect to incur under letters of credit for brokered signature loans that have not yet matured. The allowance is based on recent loan default experience adjusted for seasonal variations. It includes all amounts we expect to pay to the unaffiliated lenders upon loan default, including loan principal, accrued interest, insufficient funds fees and late fees, net of the amounts we expect to collect from borrowers (collectively, “Expected LOC Losses”). Changes in the allowance are charged to signature loan bad debt. We include the balance of Expected LOC Losses in “Accounts payable and other accrued expenses” on our balance sheets. At March 31, 2011, the allowance for Expected LOC Losses on signature loans was $0.8 million and our maximum exposure for losses on letters of credit, if all brokered signature loans defaulted and none was collected, was $18.8 million. This amount includes principal, interest, insufficient funds fees and late fees. Based on the expected loss and collection percentages, we also provide an allowance for the signature loan credit service fees we expect not to collect, and charge changes in this allowance to signature loan fee revenue. *Signature Loan Revenue Recognition:* We accrue fees in accordance with state and provincial laws on the percentage of signature loans (payday loans and installment loans) we have made that we believe to be collectible. Accrued fees related to defaulted loans reduce fee revenue upon loan default, and increase fee revenue upon collection. *Signature Loan Bad Debt:* We consider a payday loan defaulted if it has not been repaid or renewed by the maturity date. If one payment of an installment loan is delinquent, that one payment is considered defaulted. If more than one installment payment is delinquent at any time, the entire installment loan is considered defaulted. Although defaulted loans may be collected later, we charge the loan principal to signature loan bad debt upon default, leaving only active loans in the reported balance. We record collections of principal as a reduction of signature loan bad debt when collected. After attempting collection of bad debts internally, we occasionally sell them to an unaffiliated company as another method of recovery and record the proceeds from such sales as a reduction of bad debt at the time of the sale. *Signature Loan Allowance for Losses:* We provide an allowance for losses on signature loans that have not yet matured and related fees receivable, based on recent loan default experience adjusted for seasonal variations. We charge any changes in the principal valuation allowance to signature loan bad debt. We record changes in the fee receivable valuation allowance to signature loan fee revenue. *Auto Title Loan Credit Service Fee Revenue Recognition:* We earn auto title credit service fees when we assist customers in obtaining auto title loans from unaffiliated lenders. We recognize the fee revenue ratably over the life of the loan, and reserve the percentage of fees we expect not to collect. Auto title loan credit service fee revenue is included in “Auto title loan fees” on our statements of operations. *Bad Debt and Allowance for Losses on Auto Title Loan Credit Services:* We issue letters of credit to enhance the creditworthiness of our customers seeking auto title loans from unaffiliated lenders. The letters of credit assure the lenders that if borrowers default on the loans, we will pay the lenders, upon demand, all amounts owed to the lenders by the borrowers plus any late fees. Through a charge to auto title loan bad debt, we provide an allowance for losses we expect to incur under letters of credit for brokered auto title loans, and record actual charge-offs against this allowance. The allowance includes all amounts we expect to pay to the unaffiliated lenders upon loan default, including principal, accrued interest and late fees, net of the amounts we expect to collect from borrowers or through the sale of repossessed vehicles. We include the allowance for expected losses in “Accounts payable and other accrued expenses” on our balance sheets. At March 31, 2011, the allowance was $0.2 million and our maximum exposure for losses on letters of credit, if all brokered auto title loans defaulted and none was collected, was $7.7 million. *Auto Title Loan Revenue Recognition:* We accrue fees in accordance with state laws on the percentage of auto title loans we have made that we believe to be collectible. We recognize the fee revenue ratably over the life of the loan. *Auto Title Loan Bad Debt and Allowance for Losses:* Based on historical collection experience, the age of past-due loans and amounts we expect to receive through the sale of repossessed vehicles, we provide an allowance for losses on auto title loans and related fees receivable. We charge any increases in the principal valuation allowance to auto title loan bad debt and charge uncollectable loans against this allowance. We record changes in the fee receivable valuation allowance to auto title loan fee revenue. *Cash and Cash Equivalents and Cash Concentrations:* Cash and cash equivalents consist primarily of cash on deposit or highly liquid investments or mutual funds with original contractual maturities of three months or less. We hold cash at major financial institutions that often exceed FDIC insured limits. We manage our credit risk associated with cash and cash equivalents and cash concentrations by investing in high quality instruments or funds, concentrating our cash deposits in high quality financial institutions and by periodically evaluating the credit quality of the primary financial institutions issuing investments or holding such deposits. Historically, we have not experienced any losses due to such cash concentrations. *Inventory:* If a pawn loan is not redeemed, we record the forfeited collateral at cost (the principal amount of the pawn loan). We do not record loan loss allowances or charge-offs on the principal portion of pawn loans, as they are fully collateralized. In order to state inventory at the lower of cost (specific identification) or market value, we record an allowance for excess, obsolete or slow-moving inventory based on the type and age of merchandise. At March 31, 2011, the inventory valuation allowance was $7.0 million or 9.1% of gross inventory. We record changes in the inventory valuation allowance as cost of goods sold. *Intangible Assets:* Goodwill and other intangible assets having indefinite lives are not subject to amortization. They are tested for impairment each July 1^st, or more frequently if events or changes in circumstances indicate that they might be impaired, based on cash flows and other market valuation methods. We recognized no impairment of our intangible assets in the current or prior year periods. We amortize intangible assets with definite lives over their estimated useful lives, using the straight-line method. *Property and Equipment:* We record property and equipment at cost. We depreciate these assets on a straight-line basis using estimated useful lives of 30 years for buildings and 2 to 7 years for furniture, equipment, and software development costs. We depreciate leasehold improvements over the shorter of their estimated useful life (typically 10 years) or the reasonably assured lease term at the inception of the lease. Property and equipment is shown net of accumulated depreciation of $121.4 million at March 31, 2011. *Valuation of Tangible Long-Lived Assets:* We assess the impairment of tangible long-lived assets whenever events or changes in circumstances indicate that the net recorded amount may not be recoverable. The following factors could trigger an impairment review: significant underperformance relative to historical or projected future cash flows, significant changes in the manner of use of the assets or the strategy for the overall business, significant negative industry trends or legislative changes prohibiting us from offering our loan products. When we determine that the net recorded amount of tangible long-lived assets may not be recoverable, we measure impairment based on the excess of the assets’ net recorded amount over the estimated fair value. No impairment of tangible long-lived assets was recognized in the current or prior year periods. *Fair Value of Financial Instruments:* We have elected not to measure at fair value any eligible items for which fair value measurement is optional. We determine the fair value of financial instruments by reference to various market data and other valuation techniques, as appropriate. Unless otherwise disclosed, the fair values of financial instruments approximate their recorded values, due primarily to their short-term nature. The recorded value of our outstanding debt is assumed to estimate its fair value, as it has no prepayment penalty and a floating interest rate based on market rates. *Foreign Currency Translation:* Our equity investments in Albemarle & Bond and Cash Converters are translated from British pounds and Australian dollars, respectively, into U.S. dollars at the exchange rates as of the investees’ balance sheet date. The related interest in the investees’ net income is translated at the average exchange rates for each six-month period reported by the investees. The functional currency of our wholly-owned Empeño Fácil pawn segment is the Mexican peso and the functional currency of our wholly-owned foreign subsidiary CASHMAX is the Canadian dollar. Empeño Fácil’s and CASHMAX’s balance sheet accounts are translated from their respective functional currencies into U.S. dollars at the exchange rate at the end of each quarter, and their earnings are translated into U.S. dollars at the average exchange rate each quarter. We present resulting translation adjustments from Albemarle & Bond, Cash Converters, Empeño Fácil and CASHMAX as a separate component of stockholders’ equity. Foreign currency transaction gains and losses have not been significant, and are reported as “Other” expense in our statements of operations. *Income Taxes:* We account for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying value of assets and liabilities and their tax basis and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the related temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized when the rate change is enacted. *Stock Compensation:* We account for stock compensation in accordance with the fair value recognition provisions of FASB ASC 718-10-25 (Compensation — Stock Compensation). The fair value of restricted shares is measured as the closing market price of our stock on the date of grant, which is amortized over the vesting period for each grant. We have not granted any stock options since fiscal 2007. When granted, our policy is to estimate the grant-date fair value of options using the Black-Scholes-Merton option-pricing model and amortize that fair value to compensation expense on a ratable basis over the options’ vesting periods. *Recently Issued Accounting Pronouncements:* In June 2009, FASB amended ASC 810-10-65 (Consolidation). Amended ASC 810-10-65 relates to the consolidation of variable interest entities. It eliminates the quantitative approach previously required for determining the primary beneficiary of a variable interest entity and requires ongoing qualitative reassessments of whether an enterprise is the primary beneficiary of a variable interest entity. This guidance also requires additional disclosures about an enterprise’s involvement in variable interest entities. We adopted this amended standard October 1, 2010, resulting in no effect on our financial position, results of operations or cash flows. In July 2010, FASB issued Accounting Standards Update (“ASU”) 2010-20, “Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses.” This update amends FASB ASC 310 (Receivables) to improve the disclosures that an entity provides about the credit quality of its financing receivables and the related allowance for credit losses. As a result of these amendments, an entity is required to disaggregate by portfolio segment or class certain existing disclosures and provide new disclosures about its financing receivables and related allowance for credit losses. We adopted this amended standard on October 1, 2010, resulting in no effect on our financial position, results of operations or cash flows. The additional required disclosures are included in Note M.

Acquisitions	6 Months Ended
Acquisitions	Mar. 31, 2011
Acquisitions [Abstract]
Acquisitions	Note C: Acquisitions Between June and September 2010, we acquired, through asset purchases, five pawn stores located in the Chicago metropolitan area, eight pawn stores located in Central and South Florida, two pawn stores located in Corpus Christi, Texas and one pawn store in Las Vegas, Nevada for approximately $21.8 million in cash. The stores were acquired from five separate sellers. We recorded approximately $4.9 million of net tangible assets and $1.0 million of intangible assets attributable to non-compete agreements and a pawn license. Goodwill of $15.9 million, which is expected to be fully tax deductible, was recorded in the U.S. Pawn Operations segment as part of these acquisitions. The factors contributing to the recognition of goodwill were based on several strategic and synergistic benefits we expect to realize from the acquisitions. These benefits include our initial entry into Chicago, a greater presence in prime pawn markets and the ability to further leverage our expense structure through increased scale. In the quarter ended December 31, 2010, we acquired three pawn stores located in the Chicago metropolitan area and one pawn store located in Marietta, Georgia for approximately $13.7 million in cash. The stores were acquired from four separate sellers. One of the stores in Chicago was acquired by purchasing all of the capital stock of the corporation that owned it, and the other three were acquired through asset purchases. We recorded approximately $2.8 million of net tangible assets, $0.1 million of intangible assets attributable to non-compete agreements and $10.8 million of goodwill, all of which was recorded in the U.S. Pawn Operations segment. Of the total goodwill, $6.1 million is expected to be fully tax deductible and $4.7 million is expected to be non-deductible. The factors contributing to the recognition of goodwill were based on several strategic and synergistic benefits we expect to realize from the acquisitions. These benefits include a greater presence in a prime pawn market and the ability to further leverage our expense structure through increased scale. In the quarter ended March 31, 2011, we acquired five pawn stores located in Central and South Florida for approximately $17.8 million in cash. The stores were acquired from two separate sellers. One of the stores was acquired by purchasing all of the capital stock of the corporation that owned it, and the other four were acquired through asset purchases. We recorded approximately $2.8 million of net tangible assets, $0.1 million of intangible assets attributable to non-compete agreements and $14.9 million of goodwill, all of which was recorded in the U.S. Pawn Operations segment. Of the total goodwill, $10.0 million is expected to be fully tax deductible and $4.9 million is expected to be non-deductible. The factors contributing to the recognition of goodwill were based on several strategic and synergistic benefits we expect to realize from the acquisitions. These benefits include a greater presence in a prime pawn market and the ability to further leverage our expense structure through increased scale. All stores were acquired as part of our continuing strategy to acquire domestic pawn stores to enhance and diversify our earnings. Transaction related expenses were not material and were expensed as incurred. The results of all acquired stores have been consolidated with our results since their acquisition. The purchase price allocation of stores acquired in the twelve months ended March 31, 2011 is preliminary as we continue to receive information regarding the acquired assets. Pro forma results of operations have not been presented because the acquisitions were not significant on either an individual or an aggregate basis.

Strategic Investments and Fair Value of Financial Instruments

6 Months Ended

Mar. 31, 2011

Strategic Investments and Fair Value of Financial Instruments [Abstract]

Strategic Investments and Fair Value of Financial Instruments

Note E: Strategic Investments and Fair Value of Financial Instruments

At March 31, 2011, we owned 16,644,640 common shares of Albemarle & Bond Holdings, PLC, representing almost 30% of its total outstanding shares. Our total cost for those shares was approximately $27.6 million. Albemarle & Bond is primarily engaged in pawnbroking, retail jewelry sales, check cashing and lending in the United Kingdom. We account for the investment using the equity method. Since Albemarle & Bond’s fiscal year ends three months prior to ours, we report the income from this investment on a three-month lag. Albemarle & Bond files semi-annual financial reports for its fiscal periods ending December 31 and June 30. The income reported for our year-to-date period ended March 31, 2011 represents our percentage interest in the results of Albemarle & Bond’s operations from July 1, 2010 to December 31, 2010.

In its functional currency of British pounds, Albemarle & Bond’s total assets increased 16% from December 31, 2009 to December 31, 2010 and its net income for the six months ended December 31, 2010 decreased 1% including the drag from new stores. Below is summarized financial information for Albemarle & Bond’s most recently reported results after translation to U.S. dollars (using the exchange rate as of December 31 of each year for balance sheet items and average exchange rates for the income statement items for the periods indicated):


	As of December 31,
	2010		2009
	(In thousands)
Current assets	$	121,519	$	104,537
Non-current assets		56,755		53,128

Total assets	$	178,274	$	157,665


Current liabilities	$	25,801	$	21,128
Non-current liabilities		53,497		48,025
Shareholders’ equity		98,976		88,512

Total liabilities and shareholders’ equity	$	178,274	$	157,665


	Six Months Ended December 31,
	2010		2009
	(in thousands)
Turnover (gross revenues)	$	76,424	$	64,572
Gross profit		46,745		43,054
Profit for the year (net income)		12,088		12,752

At March 31, 2011, we owned 124,418,000 shares, or approximately 33% of the total common shares of Cash Converters International Limited, which is a publicly traded company headquartered in Perth, Australia. We acquired the shares between November 2009 and May 2010 for approximately $57.8 million. Cash Converters franchises and operates a worldwide network of over 600 specialty financial services and retail stores that provide pawn loans, short-term unsecured loans and other consumer finance products, and buy and sell second-hand goods. Cash Converters has significant store concentrations in Australia and the United Kingdom.

We account for our investment in Cash Converters using the equity method. Since Cash Converters’ fiscal year ends three months prior to ours, we report the income from this investment on a three-month lag. Cash Converters files semi-annual financial reports for its fiscal periods ending December 31 and June 30. The income reported for our year-to-date period ended March 31, 2011 represents our percentage interest in the results of Cash Converters’ operations from July 1, 2010 to December 31, 2010. Our results for the quarter ended March 31, 2010 reflect our share of Cash Converters’ 56 days of earnings from November 6, 2009 to December 31, 2009. This amount was estimated through daily proration of Cash Converters’ reported results for the six months ended December 31, 2009.

In its functional currency of Australian dollars, Cash Converters’ total assets increased 17% from December 31, 2009 to December 31, 2010 and its net income improved 42% for the six months ended December 31, 2010. Below is summarized financial information for Cash Converters’ most recently reported results after translation to U.S. dollars (using the exchange rate as of December 31 of each year for balance sheet items and average exchange rates for the income statement items for the periods indicated):


	As of December 31,
	2010		2009
	(In thousands)
Current assets	$	104,408	$	96,680
Non-current assets		109,336		64,212

Total assets	$	213,744	$	160,892


Current liabilities	$	30,844	$	19,251
Non-current liabilities		11,970		11,010
Shareholders’ equity		170,930		130,631

Total liabilities and shareholders’ equity	$	213,744	$	160,892


	Six Months Ended December 31,
	2010		2009
	(in thousands)
Gross revenues	$	83,109	$	51,609
Gross profit		62,037		38,315
Profit for the year (net income)		13,528		8,759

The table below summarizes the recorded value and fair value of each of these strategic investments at the dates indicated. These fair values are considered level one estimates within the fair value hierarchy of FASB ASC 820-10-50, and were calculated as (a) the quoted stock price on each company’s principal market multiplied by (b) the number of shares we owned multiplied by (c) the applicable foreign currency exchange rate at the dates indicated. We included no control premium for owning a large percentage of outstanding shares.


	March 31, 2011		March 31, 2010		September 30, 2010
			(In thousands of U.S. dollars)
Albemarle & Bond:
Recorded value	$	44,784	$	41,606	$	43,127
Fair value		81,655		61,235		75,520

Cash Converters:
Recorded value		67,580		49,248		58,259
Fair value		102,610		57,714		70,005

Included in “Other Assets, net” on our balance sheets are available for sale securities with a fair value of $4.7 million at March 31, 2011, $3.8 million at March 31, 2010 and $4.9 million at September 30, 2010. This is considered to be a level one measurement of fair value as it is based on the ending market price for the securities at that date, as quoted on an active public securities exchange.

In March 2011, we announced plans to increase our ownership of Cash Converters’ outstanding shares from 33% to 53% for a total cost of approximately $70 million. Following the additional investment, we and Cash Converters plan to establish two joint ventures, under which we will roll out a suite of financial services products globally under the Cash Converters brand. The joint ventures are conditional upon the share purchase which, in turn, requires the approval of Cash Converters’ shareholders. We expect to close the transaction in our fiscal quarter ending September 30, 2011, at which point we will begin to consolidate Cash Converters’ results with ours and discontinue use of the equity method for our current investment in Cash Converters.

Goodwill and Other Intangible Assets

6 Months Ended

Mar. 31, 2011

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

Note F: Goodwill and Other Intangible Assets

The following table presents the balance of each major class of indefinite-lived intangible asset at the specified dates (in thousands):


	March 31, 2011		March 31, 2010		September 30, 2010
Pawn licenses	$	8,836	$	8,229	$	8,836
Trade name		4,870		4,870		4,870
Goodwill		143,404		101,456		117,305

Total	$	157,110	$	114,555	$	131,011

The following table presents the changes in the carrying value of goodwill, by segment, over the periods presented (in thousands):


	U.S. Pawn
	Operations		Empeño Fácil		EZMONEY Operations		Consolidated
Balance at September 30, 2010	$	110,255	$	7,050	$	—	$	117,305
Acquisitions		25,784		—		—		25,784
Effect of foreign currency translation changes		—		315		—		315

Balance at March 31, 2011	$	136,039	$	7,365	$	—	$	143,404


	U.S. Pawn
	Operations		Empeño Fácil		EZMONEY Operations		Consolidated
Balance at September 30, 2009	$	94,192	$	6,527	$	—	$	100,719
Post-closing purchase price allocation adjustments for prior year acquisitions		193		—		—		193
Effect of foreign currency translation changes		—		544		—		544

Balance at March 31, 2010	$	94,385	$	7,071	$	—	$	101,456

The following table presents the gross carrying amount and accumulated amortization for each major class of definite-lived intangible asset at the specified dates (in thousands):


	March 31, 2011					March 31, 2010					September 30, 2010
			Accumulated					Accumulated					Accumulated
	Carrying Amount		Amortization			Carrying Amount		Amortization			Carrying Amount		Amortization
License application fees	$	345	$	(345	)	$	345	$	(344	)	$	345	$	(345	)
Real estate finders’ fees		1,098		(442	)		699		(382	)		948		(401	)
Non-compete agreements		3,313		(2,277	)		2,666		(1,514	)		3,081		(1,834	)
Favorable lease		644		(264	)		644		(158	)		644		(219	)
Other		63		(9	)		39		(3	)		48		(6	)

Total	$	5,463	$	(3,337	)	$	4,393	$	(2,401	)	$	5,066	$	(2,805	)

The amortization of most definite lived intangible assets is recorded as amortization expense. The favorable lease asset and other intangibles are amortized to Operations expense (rent expense) over the related lease terms. The following table presents the amount and classification of amortization recognized as expense in each of the periods presented (in thousands):


	Three Months Ended				Six Months Ended
	March 31,				March 31,
	2011		2010		2011		2010
Amortization expense	$	221	$	156	$	433	$	282
Operations expense		25		34		48		66

Total expense from the amortization of definite-lived intangible assets	$	246	$	190	$	481	$	348

The following table presents our estimate of the amount and classification of amortization expense for definite-lived intangible assets for each of the five succeeding full fiscal years beginning October 1, 2010 (in thousands):


Fiscal Year	Amortization Expense		Operations Expense
2011	$	813	$	99
2012		662		84
2013		174		68
2014		89		54
2015		80		43

As acquisitions and dispositions occur in the future, amortization and operations expense may vary from these estimates.

Operating Segment Information

6 Months Ended

Mar. 31, 2011

Operating Segment Information [Abstract]

Operating Segment Information

Note L: Operating Segment Information

We manage our business and internal reporting as three reportable segments with operating results reported separately for each segment.

	•		The U.S. Pawn Operations segment offers pawn related activities in our 403 U.S. pawn stores, offers signature loans in 29 pawn stores and six EZMONEY stores and offers auto title loans in 44 pawn stores.

	•		The Empeño Fácil segment offers pawn related activities in 147 Mexico pawn stores.

	•		The EZMONEY Operations segment offers signature loans in 442 U.S. EZMONEY stores and 59 Canadian CASHMAX stores. The segment also offers auto title loans in 368 of its U.S. stores.

There are no inter-segment revenues, and the amounts below were determined in accordance with the same accounting principles used in our consolidated financial statements. The following tables present operating segment information (in thousands):


	Three Months Ended March 31,
	U.S. Pawn Operations					Empeño Fácil				EZMONEY Operations
	2011			2010		2011		2010		2011		2010
Revenues:
Merchandise sales	$	72,420		$	63,049	$	5,353	$	3,259	$	—	$	—
Jewelry scrapping sales		44,058			34,414		3,644		1,762		293		52
Pawn service charges		43,073			36,256		3,696		2,050		—		—
Signature loan fees		407			434		—		—		34,696		31,208
Auto title loan fees		347			427		—		—		5,022		3,529
Other		142			144		25		—		78		—

Total revenues		160,447			134,724		12,718		7,071		40,089		34,789

Merchandise cost of goods sold		41,484			37,058		3,155		2,023		—		—
Jewelry scrapping cost of goods sold		28,687			21,483		3,077		1,574		161		24
Signature loan bad debt		93			101		—		—		5,345		4,296
Auto title loan bad debt		(20	)		52		—		—		322		268

Net revenues		90,203			76,030		6,486		3,474		34,261		30,201

Operations expense		43,817			39,912		4,849		2,573		17,379		15,720

Store operating income	$	46,386		$	36,118	$	1,637	$	901	$	16,882	$	14,481


	Six Months Ended March 31,
	U.S. Pawn Operations				Empeño Fácil				EZMONEY Operations
	2011		2010		2011		2010		2011		2010
Revenues:
Merchandise sales	$	138,725	$	124,311	$	10,928	$	6,613	$	—	$	—
Jewelry scrapping sales		91,064		71,237		7,106		2,369		490		64
Pawn service charges		89,509		75,197		7,070		3,906		—		—
Signature loan fees		916		987		—		—		74,253		69,333
Auto title loan fees		740		902		—		—		10,873		6,156
Other		259		260		28		—		119		—

Total revenues		321,213		272,894		25,132		12,888		85,735		75,553

Merchandise cost of goods sold		79,681		73,964		6,269		4,381		—		—
Jewelry scrapping cost of goods sold		58,225		44,307		5,715		2,049		240		31
Signature loan bad debt		258		287		—		—		15,226		12,900
Auto title loan bad debt		41		122		—		—		1,243		658

Net revenues		183,008		154,214		13,148		6,458		69,026		61,964

Operations expense		87,013		80,111		9,127		4,737		34,409		31,538

Store operating income	$	95,995	$	74,103	$	4,021	$	1,721	$	34,617	$	30,426

The following table reconciles store operating income, as shown above, to our consolidated income before income taxes (in thousands):


	Three Months Ended March 31,						Six Months Ended March 31,
	2011			2010			2011			2010
U.S. Pawn Operations store operating income	$	46,386		$	36,118		$	95,995		$	74,103
Empeño Fácil store operating income		1,637			901			4,021			1,721
EZMONEY Operations store operating income		16,882			14,481			34,617			30,426

Consolidated store operating income		64,905			51,500			134,633			106,250
Administrative expenses		15,733			13,483			41,871			25,780
Depreciation and amortization		4,466			3,573			8,645			6,929
(Gain) loss on sale / disposal of assets		(178	)		356			(171	)		567
Interest income		(11	)		(8	)		(14	)		(16	)
Interest expense		300			395			600			760
Equity in net income of unconsolidated affiliates		(4,691	)		(3,306	)		(8,058	)		(4,589	)
Other		4			12			(57	)		(3	)

Consolidated income before income taxes	$	49,282		$	36,995		$	91,817		$	76,822

The following table presents separately identified segment assets (in thousands):


	U.S. Pawn		Empeño
	Operations		Fácil		EZMONEY Operations		Consolidated
Assets at March 31, 2011:
Pawn loans	$	97,375	$	9,150	$	—	$	106,525
Signature loans, net		405		—		9,521		9,926
Auto title loans, net		595		—		1,427		2,022
Service charges and fees receivable, net		18,815		1,355		5,832		26,002
Inventory, net		63,164		7,033		78		70,275
Goodwill		136,039		7,365		—		143,404

Total separately identified recorded segment assets	$	316,393	$	24,903	$	16,858	$	358,154


Brokered signature loans outstanding from unaffiliated lenders	$	144	$	—	$	16,316	$	16,460
Brokered auto title loans outstanding from unaffiliated lenders	$	140	$	—	$	4,904	$	5,044

Assets at March 31, 2010:
Pawn loans	$	84,116	$	4,924	$	—	$	89,040
Signature loans, net		371		—		6,916		7,287
Auto title loans, net		577		—		1,362		1,939
Service charges and fees receivable, net		15,885		679		5,246		21,810
Inventory, net		53,122		3,262		19		56,403
Goodwill		94,385		7,071		—		101,456

Total separately identified recorded segment assets	$	248,456	$	15,936	$	13,543	$	277,935


Brokered signature loans outstanding from unaffiliated lenders	$	170	$	—	$	17,571	$	17,741
Brokered auto title loans outstanding from unaffiliated lenders	$	193	$	—	$	3,719	$	3,912

Assets at September 30, 2010:
Pawn loans	$	113,944	$	7,257	$	—	$	121,201
Signature loans, net		456		—		10,319		10,775
Auto title loans, net		651		—		2,494		3,145
Service charges and fees receivable, net		20,830		1,053		7,177		29,060
Inventory, net		66,542		4,935		25		71,502

Goodwill		110,255		7,050		—		117,305

Total separately identified recorded segment assets	$	312,678	$	20,295	$	20,015	$	352,988


Brokered signature loans outstanding from unaffiliated lenders	$	231	$	—	$	22,709	$	22,940
Brokered auto title loans outstanding from unaffiliated lenders	$	236	$	—	$	6,589	$	6,825

Brokered loans are not recorded as an asset on our balance sheets, as we do not own a participation in the loans made by independent lenders. We monitor the principal balance of these loans, as our credit service fees and bad debt are directly related to their volume due to the letters of credit we issue on these loans. The balances shown above are the gross principal balances of the loans outstanding at the specified dates.

Allowance for Losses and Credit Quality of Financing Receivables

6 Months Ended

Mar. 31, 2011

Allowance for Losses and Credit Quality of Financing Receivables [Abstract]

Allowance for Losses and Credit Quality of Financing Receivables

Note M: Allowance for Losses and Credit Quality of Financing Receivables

We offer a variety of loan products and credit services to customers who do not have cash resources or access to credit to meet their short-term cash needs. Our customers are considered to be in a higher risk pool with regard to creditworthiness when compared to those of typical financial institutions. As a result, our receivables do not have a credit risk profile that can easily be measured by the normal credit quality indicators used by the financial markets. We manage the risk through closely monitoring the performance of the portfolio and through our underwriting process. This process includes review of customer information, such as making a credit reporting agency inquiry, evaluating and verifying income sources and levels, verifying employment and verifying a telephone number where customers may be contacted. For auto title loans, we additionally inspect the automobile, title and reference to market values of used automobiles.

As described in Note B, “Significant Accounting Policies,” we consider a signature loan defaulted if it has not been repaid or renewed by the maturity date. If one payment of an installment loan is delinquent, that one payment is considered defaulted. If more than one installment payment is delinquent at any time, the entire installment loan is considered defaulted. Although defaulted loans may be collected later, we charge the loan principal to signature loan bad debt upon default, leaving only active loans in the reported balance. Accrued fees related to defaulted loans reduce fee revenue upon loan default, and increase fee revenue upon collection. Based on historical collection experience, the age of past-due loans and amounts we expect to receive through the sale of repossessed vehicles, we provide an allowance for losses on auto title loans.

The accuracy of our allowance estimates is dependent upon several factors, including our ability to predict future default rates based on historical trends and expected future events. We base our estimates on observable trends and various other assumptions that we believe to be reasonable under the circumstances.

The following table presents changes in the allowance for credit losses as well as the recorded investment in our financing receivables by portfolio segment for the periods presented (in thousands):


	Allowance									Allowance		Financing
	Balance at									Balance at		Receivable
	Beginning									End of		End of
Description	of Period		Charge-offs			Recoveries		Provision		Period		Period
Allowance for losses on signature loans:
Three-months ended March 31, 2011	$	1,210	$	(3,985	)	$	1,574	$	2,311	$	1,110	$	11,036
Three-months ended March 31, 2010		789		(3,045	)		1,490		1,269		503		7,790

Six-months ended March 31, 2011	$	750	$	(8,245	)	$	3,070	$	5,535	$	1,110	$	11,036
Six-months ended March 31, 2010		532		(6,810	)		2,934		3,847		503		7,790

Allowance for losses on auto title loans:
Three-months ended March 31, 2011	$	1,316	$	(3,437	)	$	2,857	$	74	$	810	$	2,832
Three-months ended March 31, 2010		579		(1,745	)		1,764		213		811		2,750

Six-months ended March 31, 2011	$	1,137	$	(6,882	)	$	5,572	$	983	$	810	$	2,832
Six-months ended March 31, 2010		291		(3,296	)		3,302		514		811		2,750

The provision presented in the table above includes only principal and excludes items such as NSF fees, late fees, repossession fees, auction fees and interest. In addition, all credit service expenses and fees related to loans made by our unaffiliated lenders are excluded, as we do not own the loans made in connection with our credit services and they are not recorded as assets on our balance sheet. Expected losses on credit services are accrued and reported in “Accounts payable and other accrued expenses” on our balance sheets.

Auto title loans are our only loans that remain as recorded investments when in delinquent/nonaccrual status. We consider an auto title loan past due if it has not been repaid or renewed by the maturity date. Based on experience, we establish a reserve on all auto title loans. On auto title loans more than 90 days past due, we reserve the percentage we estimate will not be recoverable through auction and reserve 100% of loans for which we have not yet repossessed the underlying collateral. No fees are accrued on any auto title loans more than 90 days past due.

The following table presents an aging analysis of past due financing receivables by portfolio segment for the periods presented (in thousands):


	Days Past Due
																			Total			Recorded
													Total			Current			Financing			Investment > 90
	1-30			31-60			61-90			>90			Past Due			Receivable			Receivable			Days & Accruing
March 31, 2011
Auto title loans	$	324		$	272		$	368		$	493		$	1,457		$	1,375		$	2,832		$	—
Reserve	$	82		$	76		$	151		$	427		$	736		$	74		$	810		$	—
Reserve %		25	%		28	%		41	%		87	%		51	%		5	%		29	%

March 31, 2010
Auto title loans	$	332		$	226		$	180		$	586		$	1,324		$	1,426		$	2,750		$	—
Reserve	$	47		$	88		$	113		$	524		$	772		$	39		$	811		$	—
Reserve %		14	%		39	%		63	%		89	%		58	%		3	%		29	%

September 30, 2010
Auto title loans	$	797		$	552		$	432		$	532		$	2,313		$	1,970		$	4,283		$	—
Reserve	$	188		$	229		$	256		$	367		$	1,040		$	97		$	1,137		$	—
Reserve %		24	%		41	%		59	%		69	%		45	%		5	%		27	%

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2011	Sep. 30, 2010	Mar. 31, 2010
Common Class A Non-voting
Stockholders' equity:
Common Stock, par value	$ 0.01	$ 0.01	$ 0.01
Common Stock, shares authorized	54,000,000	54,000,000	54,000,000
Common Stock, shares issued	46,954,535	46,256,051	46,192,698
Common Stock, shares outstanding	46,954,535	46,256,051	46,192,698
Common Class B Voting
Stockholders' equity:
Common Stock, par value	$ 0.01	$ 0.01	$ 0.01
Common Stock, shares authorized	3,000,000	3,000,000	3,000,000
Common Stock, shares issued	2,970,171	2,970,171	2,970,171
Common Stock, shares outstanding	2,970,171	2,970,171	2,970,171

Basis of Presentation	6 Months Ended
Basis of Presentation	Mar. 31, 2011
Basis of Presentation [Abstract]
Basis of Presentation	Note A: Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Our management has included all adjustments it considers necessary for a fair presentation. These adjustments are of a normal, recurring nature except for those related to acquired businesses (described in Note C). The accompanying financial statements should be read with the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended September 30, 2010. The balance sheet at September 30, 2010 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Certain prior period balances have been reclassified to conform to the current presentation. Our business is subject to seasonal variations and operating results for the three and six month periods ended March 31, 2011 (the “current quarter” and “current year-to-date period”) are not necessarily indicative of the results of operations for the full fiscal year.

Long-term Debt	6 Months Ended
Long-term Debt	Mar. 31, 2011
Long-term Debt [Abstract]
Long-term Debt	Note G: Long-term Debt Our syndicated credit agreement provides for, among other things, (i) an $80 million revolving credit facility, maturing December 31, 2011, that we may, under the terms of the agreement, request to be increased to a total of $110 million and (ii) a $40 million term loan, maturing December 31, 2012. Our term loan requires $2.5 million quarterly principal payments. At March 31, 2011, $20 million was outstanding under the term loan and bank letters of credit totaling $5 million were outstanding, leaving $75 million available on our revolving credit facility. The outstanding bank letters of credit secure our obligations under letters of credit we issue to unaffiliated lenders as part of our credit service operations. Pursuant to the credit agreement, we may choose to pay interest to the lenders for outstanding borrowings at the Eurodollar rate plus 175 to 250 basis points or the bank’s base rate plus 0 to 50 basis points, depending on our leverage ratio computed at the end of each calendar quarter. Our rates are currently at the minimum of the range. On the unused amount of the revolving credit facility, we pay a commitment fee of 25 to 30 basis points depending on our leverage ratio calculated at the end of each quarter. Terms of the credit agreement require, among other things, that we meet certain financial covenants. We were in compliance with all covenants at March 31, 2011. The payment of dividends and additional debt are restricted. The recorded value of our debt approximates its fair value as it is all variable rate debt and carries no pre-payment penalty. Deferred financing costs of $0.3 million related to our credit agreement are included in Other assets, net in our March 31, 2011 balance sheet. These costs are being amortized to interest expense over their three-year estimated useful life.

Income Taxes	6 Months Ended
Income Taxes	Mar. 31, 2011
Income Taxes [Abstract]
Income Taxes	Note I: Income Taxes The current quarter’s effective tax rate is 35.4% of pretax income compared to 35.7% for the prior year quarter. For the current year-to-date period, the effective tax rate is 35.5% compared to 35.6% in the prior year-to-date period. The decrease in effective tax rates is primarily due to an increase in both domestic tax credits and the foreign tax credit on overseas earnings, partially offset by the valuation allowance established for operating losses in our Canada operations during their start-up period.

Contingencies	6 Months Ended
Contingencies	Mar. 31, 2011
Contingencies [Abstract]
Contingencies	Note J: Contingencies Currently and from time to time, we are defendants in various legal and regulatory actions. While we cannot determine the ultimate outcome of these actions, we believe their resolution will not have a material adverse effect on our financial condition, results of operations or liquidity. However, we cannot give any assurance as to their ultimate outcome.

Comprehensive Income	6 Months Ended
Comprehensive Income	Mar. 31, 2011
Comprehensive Income [Abstract]
Comprehensive Income	Note K: Comprehensive Income Comprehensive income includes net income and other revenues, expenses, gains and losses that are excluded from net income but are included as a component of total stockholders’ equity. Comprehensive income for the fiscal quarter and year-to-date period ended March 31, 2011 was $34.0 million and $68.5 million. For the comparable 2010 periods, comprehensive income was $23.7 million and $49.5 million. The difference between comprehensive income and net income results primarily from the effect of foreign currency translation adjustments and the unrealized gain or loss on available for sale securities. At March 31, 2011, the accumulated balance of net foreign currency and unrealized gain activity excluded from net income was $4.7 million, net of applicable tax of $1.9 million. The net $2.8 million is presented as “Accumulated other comprehensive income (loss)” in the balance sheet at March 31, 2011.