World Acceptance (WRLD) 10-Q1 Nov 132014 Q2 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
Document and Entity Information	Sep. 30, 2013	Oct. 31, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'WORLD ACCEPTANCE CORP	'
Entity Central Index Key	'0000108385	'
Current Fiscal Year End Date	'--03-31	'
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	11,483,713
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'

CONSOLIDATED_BALANCE_SHEETS_Un

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Sep. 30, 2013	Mar. 31, 2013
ASSETS	'	'
Cash and cash equivalents	$14,489,233	$11,625,365
Gross loans receivable	1,163,237,688	1,067,051,763
Less:	'	'
Unearned interest and fees	-320,980,101	-284,956,195
Allowance for loan losses	-67,608,005	-59,980,842
Loans receivable, net	774,649,582	722,114,726
Property and equipment, net	23,957,389	23,935,439
Deferred income taxes	36,242,999	29,415,996
Other assets, net	11,149,842	11,712,319
Goodwill	5,967,127	5,896,288
Intangible assets, net	4,253,263	4,624,832
Total assets	870,709,435	809,324,965
Liabilities:	'	'
Senior notes payable	486,850,000	400,250,000
Income taxes payable	6,024,686	13,941,632
Accounts payable and accrued expenses	25,109,026	28,737,074
Total liabilities	517,983,712	442,928,706
Commitments and contingencies	'	'
Shareholders' equity:	'	'
Preferred stock, no par value	0	0
Common stock, no par value	0	0
Additional paid-in capital	100,525,690	89,789,789
Retained earnings	256,643,073	277,024,787
Accumulated other comprehensive loss	-4,443,040	-418,317
Total shareholders' equity	352,725,723	366,396,259
Total liabilities and shareholders' equity	$870,709,435	$809,324,965

CONSOLIDATED_BALANCE_SHEETS_Un1

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Shareholders' equity:	'	'
Preferred stock, par value (in dollars per share)	$0	$0
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$0	$0
Common stock, shares authorized (in shares)	95,000,000	95,000,000
Common stock, shares issued (in shares)	11,472,813	12,171,075
Common stock, shares outstanding (in shares)	11,472,813	12,171,075

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues:	'	'	'	'
Interest and fee income	$133,010,377	$121,817,856	$260,988,298	$237,117,052
Insurance commissions and other income	16,953,202	17,580,470	34,240,408	35,117,158
Total revenues	149,963,579	139,398,326	295,228,706	272,234,210
Expenses:	'	'	'	'
Provision for loan losses	38,187,649	32,401,664	66,890,842	56,016,554
General and administrative expenses:	'	'	'	'
Personnel	49,134,111	44,669,605	102,443,786	93,082,624
Occupancy and equipment	9,692,239	9,138,637	19,071,209	17,781,286
Advertising	3,049,386	2,801,011	5,772,641	5,445,646
Amortization of intangible assets	265,665	339,040	577,167	707,720
Other	9,846,790	9,209,731	19,360,474	18,299,859
Total general and administrative expenses	71,988,191	66,158,024	147,225,277	135,317,135
Interest expense	5,280,791	4,066,038	9,957,245	7,992,192
Total expenses	115,456,631	102,625,726	224,073,364	199,325,881
Income before income taxes	34,506,948	36,772,600	71,155,342	72,908,329
Income taxes	12,941,679	13,871,151	26,478,372	27,391,882
Net income	$21,565,269	$22,901,449	$44,676,970	$45,516,447
Net income per common share:	'	'	'	'
Basic (in dollars per share)	$1.85	$1.76	$3.78	$3.42
Diluted (in dollars per share)	$1.80	$1.72	$3.67	$3.35
Weighted average common shares outstanding:	'	'	'	'
Basic (in shares)	11,629,326	12,985,345	11,814,675	13,298,372
Diluted (in shares)	11,979,939	13,287,278	12,159,759	13,596,244

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Statement of Other Comprehensive Income [Abstract]	'	'	'	'
Net income	$21,565,269	$22,901,449	$44,676,970	$45,516,447
Foreign currency translation adjustments	-1,004,977	2,122,742	-4,024,723	-125,489
Comprehensive income	$20,560,292	$25,024,191	$40,652,247	$45,390,958

CONSOLIDATED_STATEMENTS_OF_SHA

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (USD $)	Total	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss), net [Member]
Balances at Mar. 31, 2012	$418,875,013	$65,630,753	$355,980,694	($2,736,434)
Increase (Decrease) in Shareholders' Equity [Roll Forward]	'	'	'	'
Proceeds from exercise of stock options, including tax benefits	12,993,709	12,993,709	'	'
Common stock repurchases	-183,045,655	'	-183,045,655	'
Issuance of restricted common stock under stock option plan	3,842,674	3,842,674	'	'
Stock option expense	7,322,653	7,322,653	'	'
Other comprehensive income	2,318,117	'	'	2,318,117
Net income	104,089,748	'	104,089,748	'
Balances at Mar. 31, 2013	366,396,259	89,789,789	277,024,787	-418,317
Increase (Decrease) in Shareholders' Equity [Roll Forward]	'	'	'	'
Proceeds from exercise of stock options, including tax benefits	1,961,086	1,961,086	'	'
Common stock repurchases	-65,058,684	'	-65,058,684	'
Issuance of restricted common stock under stock option plan	3,635,047	3,635,047	'	'
Stock option expense	5,139,768	5,139,768	'	'
Other comprehensive income	-4,024,723	'	'	-4,024,723
Net income	44,676,970	'	44,676,970	'
Balances at Sep. 30, 2013	$352,725,723	$100,525,690	$256,643,073	($4,443,040)

CONSOLIDATED_STATEMENTS_OF_SHA1

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) (USD $)	6 Months Ended	12 Months Ended
	Sep. 30, 2013	Mar. 31, 2013
Increase (Decrease) in Shareholders' Equity [Roll Forward]	'	'
Proceeds from exercise of stock options (in shares)	40,345	332,665
Proceeds from exercise of stock options, tax benefits	$509,408	$3,049,108
Common stock repurchases (in shares)	733,299	2,569,597

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	6 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	Sep. 30, 2013	Sep. 30, 2012
Cash flow from operating activities:	'	'
Net income	$44,676,970	$45,516,447
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Amortization of intangible assets	577,167	707,720
Amortization of loan costs and discounts	227,820	431,437
Provision for loan losses	66,890,842	56,016,554
Depreciation	3,173,420	3,083,921
Deferred income tax benefit	-7,204,662	-7,130,570
Compensation related to stock option and restricted stock plans	8,774,815	3,810,220
Change in accounts:	'	'
Other assets, net	252,764	-292,766
Income taxes payable	-7,863,237	-4,963,192
Accounts payable and accrued expenses	-3,496,040	-2,985,014
Net cash provided by operating activities	106,009,859	94,194,757
Cash flows from investing activities:	'	'
Increase in loans receivable, net	-121,930,478	-123,603,259
Net assets acquired from office acquisitions, primarily loans	-717,063	-1,045,264
Purchases of property and equipment	-3,424,236	-3,939,867
Increase in intangible assets from acquisitions	-276,437	-361,061
Net cash used in investing activities	-126,348,214	-128,949,451
Cash flow from financing activities:	'	'
Borrowings from senior note payable	195,940,000	255,000,466
Payments on senior note payable	-109,340,000	-97,650,466
(Payments on)/proceeds from junior subordinated note payable	0	-50,000,000
Proceeds from exercise of stock options	1,451,678	3,355,695
Repurchase of common stock	-65,058,684	-75,141,185
Excess tax benefits from exercise of stock options	509,408	1,099,228
Net cash provided by financing activities	23,502,402	36,663,738
Increase in cash and cash equivalents	3,164,047	1,909,044
Effects of foreign currency fluctuations on cash	-300,179	27,145
Cash and cash equivalents at beginning of period	11,625,365	10,768,176
Cash and cash equivalents at end of period	$14,489,233	$12,704,365

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
BASIS OF PRESENTATION	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
BASIS OF PRESENTATION	'
	BASIS OF PRESENTATION

	The consolidated financial statements of the Company at September 30, 2013, and for the three and six months then ended were prepared in accordance with the instructions for Form 10-Q and are unaudited; however, in the opinion of management, all adjustments (consisting only of items of a normal recurring nature) necessary for a fair presentation of the financial position at September 30, 2013, and the results of operations and cash flows for the periods ended September 30, 2013 and 2012, have been included. The results for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period.

	Certain reclassification entries have been made for fiscal 2013 to conform to fiscal 2014 presentation. These reclassifications had no impact on shareholders’ equity and comprehensive income (loss) or net income.

	The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent liabilities at the date of the consolidated financial statements and the reported amount of revenue and expenses during the reporting period. Actual results could differ from those estimates.

	The consolidated financial statements do not include all disclosures required by U.S. GAAP and should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the fiscal year ended March 31, 2013, included in the Company’s 2013 Annual Report to Shareholders.

SUMMARY_OF_SIGNIFICANT_POLICIE

SUMMARY OF SIGNIFICANT POLICIES	6 Months Ended
SUMMARY OF SIGNIFICANT POLICIES	Sep. 30, 2013
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT POLICIES	'
	SUMMARY OF SIGNIFICANT POLICIES

	New Accounting Pronouncements Adopted

	Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.

	In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-2, which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. The new guidance requires an entity to disaggregate the total change of each component of other comprehensive income either on the face of the income statement or as a separate disclosure in the notes to the financial statements. The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income in financial statements. ASU 2013-02 is effective for fiscal years beginning after December 15, 2012. The adoption of ASU No. 2013-2 on April 1, 2013 did not have a material impact on our consolidated financial statements.

	Accounting Standards to be Adopted

	We reviewed significant newly issued accounting pronouncements and concluded that they are either not applicable to our business or that no material effect is expected on the financial statements as a result of future adoption.

FAIR_VALUE

FAIR VALUE	6 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
FAIR VALUE	'
	FAIR VALUE

	Fair Value Disclosures

	The Company may carry certain financial instruments, derivative assets and liabilities, at fair value on a recurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The Company determines the fair values of its financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

	Financial assets and liabilities measured at fair value are grouped in three levels. The levels prioritize the inputs used to measure the fair value of the assets or liabilities. These levels are:


	•	Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities.

	•	Level 2 – Inputs other than quoted prices that are observable for assets and liabilities, either directly or indirectly. These inputs include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in market that are less active.

	•	Level 3 – Unobservable inputs for assets or liabilities reflecting the reporting entity’s own assumptions.

	As of September 30, 2013 and March 31, 2013, the Company had no financial assets or liabilities that were measured at fair value.

	Fair Value of Long-Term Debt

	The book value and estimated fair value of our long-term debt was as follows (in thousands):



		September 30,		March 31,
		2013		2013
	Book value and estimated fair value:
	Senior note payable	$	486,850	400,250


	The carrying value of the senior note payable approximated its fair value, as the senior note payable is at a variable interest rate.

	Other

	There were no assets or liabilities measured at fair value on a non-recurring basis as of September 30, 2013 or March 31, 2013.

ALLOWANCE_FOR_LOAN_LOSSES

ALLOWANCE FOR LOAN LOSSES	6 Months Ended
	Sep. 30, 2013
Receivables [Abstract]	'
ALLOWANCE FOR LOAN LOSSES	'
	ALLOWANCE FOR LOAN LOSSES

	The following is a summary of the changes in the allowance for loan losses for the periods indicated:



		Three months ended September 30,							Six months ended September 30,
		2013				2012			2013			2012
	Balance at beginning of period	$	61,630,967			55,670,131			$	59,980,842		54,507,299

	Provision for loan losses	38,187,649				32,401,664			66,890,842			56,016,554

	Loan losses	(35,261,797		)		(29,711,502	)		(65,375,871		)	(54,918,604	)
	Recoveries	3,135,796				2,785,824			6,447,978			5,721,438

	Translation adjustment	(84,610		)		182,660			(335,786		)	2,090

	Balance at end of period	$	67,608,005			61,328,777			$	67,608,005		61,328,777


	The following is a summary of loans individually and collectively evaluated for impairment for the period indicated:



	September 30, 2013	Loans individually				Loans collectively			Total
		evaluated for				evaluated for
		impairment				impairment
		(impaired loans)
	Bankruptcy, gross loans	$	6,437,259			—			6,437,259

	91 days or more delinquent, excluding bankruptcy	28,646,649				—			28,646,649

	Loans less than 91 days delinquent and not in bankruptcy	—				1,128,153,780			1,128,153,780

	Gross loan balance	35,083,908				1,128,153,780			1,163,237,688

	Unearned interest and fees	(7,900,928		)		(313,079,173	)		(320,980,101	)
	Net loans	27,182,980				815,074,607			842,257,587

	Allowance for loan losses	(27,182,980		)		(40,425,025	)		(67,608,005	)
	Loans, net of allowance for loan losses	$	—			774,649,582			774,649,582




	March 31, 2013	Loans individually				Loans collectively			Total
		evaluated for				evaluated for
		impairment				impairment
		(impaired loans)
	Bankruptcy, gross loans	$	5,910,206			—			5,910,206

	91 days or more delinquent, excluding bankruptcy	23,536,170				—			23,536,170

	Loans less than 91 days delinquent and not in bankruptcy	—				1,037,605,387			1,037,605,387

	Gross loan balance	29,446,376				1,037,605,387			1,067,051,763

	Unearned interest and fees	(6,036,018		)		(278,920,177	)		(284,956,195	)
	Net loans	23,410,358				758,685,210			782,095,568

	Allowance for loan losses	(23,410,358		)		(36,570,484	)		(59,980,842	)
	Loans, net of allowance for loan losses	$	—			722,114,726			722,114,726



September 30, 2012	Loans individually				Loans collectively			Total
	evaluated for				evaluated for
	impairment				impairment
	(impaired loans)
Bankruptcy, gross loans	$	6,688,992			—			6,688,992

91 days or more delinquent, excluding bankruptcy	22,281,854				—			22,281,854

Loans less than 91 days delinquent and not in bankruptcy	—				1,058,930,865			1,058,930,865

Gross loan balance	28,970,846				1,058,930,865			1,087,901,711

Unearned interest and fees	(5,745,076		)		(291,661,460	)		(297,406,536	)
Net loans	23,225,770				767,269,405			790,495,175

Allowance for loan losses	(22,914,103		)		(38,414,674	)		(61,328,777	)
Loans, net of allowance for loan losses	$	311,667			728,854,731			729,166,398


The following is an assessment of the credit quality for the period indicated:


	September 30,				March 31,			September 30,
	2013				2013			2012
Credit risk
Consumer loans- non-bankrupt accounts	$	1,156,800,429			1,061,141,557			1,081,212,719

Consumer loans- bankrupt accounts	6,437,259				5,910,206			6,688,992

Total gross loans	$	1,163,237,688			1,067,051,763			1,087,901,711


Consumer credit exposure

Credit risk profile based on payment activity, performing	$	1,101,669,295			1,020,337,490			1,041,729,308

Contractual non-performing, 61 or more days delinquent	61,568,393				46,714,273			46,172,403

Total gross loans	$	1,163,237,688			1,067,051,763			1,087,901,711


Delinquent renewals	$	23,170,833			19,799,064			21,789,534


Credit risk profile based on customer type

New borrower	$	143,398,274			130,897,466			120,930,075

Former borrower	113,787,457				90,281,773			100,446,957

Refinance	882,881,124				826,073,460			844,735,145

Delinquent refinance	23,170,833				19,799,064			21,789,534

Total gross loans	$	1,163,237,688			1,067,051,763			1,087,901,711


The following is a summary of the past due receivables as of:



	September 30,				March 31,			September 30,
	2013				2013			2012
Contractual basis:

30-60 days past due	$	46,063,021			37,674,267			44,956,309

61-90 days past due	32,552,615				22,773,063			23,542,582

91 days or more past due	29,015,778				23,941,210			22,629,821

Total	$	107,631,414			84,388,540			91,128,712


Percentage of period-end gross loans receivable	9.3		%		7.9	%		8.4	%

AVERAGE_SHARE_INFORMATION

AVERAGE SHARE INFORMATION	6 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
AVERAGE SHARE INFORMATION	'
	AVERAGE SHARE INFORMATION

	The following is a summary of the basic and diluted average common shares outstanding:



		Three months ended September 30,		Six months ended September 30,
		2013	2012	2013	2012
	Basic:
	Weighted average common shares outstanding (denominator)	11,629,326	12,985,345	11,814,675	13,298,372


	Diluted:

	Weighted average common shares outstanding	11,629,326	12,985,345	11,814,675	13,298,372

	Dilutive potential common shares stock options	350,613	301,933	345,084	297,872

	Weighted average diluted shares outstanding (denominator)	11,979,939	13,287,278	12,159,759	13,596,244


	Options to purchase 347,834 and 215,300 shares of common stock at various prices were outstanding during the three months ended September 30, 2013 and 2012 respectively, but were not included in the computation of diluted EPS because the option exercise price was antidilutive.

	Options to purchase 556,010 and 215,655 shares of common stock at various prices were outstanding during the six months ended September 30, 2013 and 2012 respectively, but were not included in the computation of diluted EPS because the option exercise price was antidilutive.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
STOCK-BASED COMPENSATION	Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
STOCK-BASED COMPENSATION	'
	STOCK-BASED COMPENSATION

	Stock Option Plans

	The Company has a 2002 Stock Option Plan, a 2005 Stock Option Plan, a 2008 Stock Option Plan, and a 2011 Stock Option Plan for the benefit of certain directors, officers, and key employees. Under these plans, 4,100,000 shares of authorized common stock have been reserved for issuance pursuant to grants approved by the Compensation and Stock Option Committee of the Board of Directors. Stock options granted under these plans have a maximum duration of 10 years, may be subject to certain vesting requirements, which are generally five years for officers, directors, and key employees, and are priced at the market value of the Company's common stock on the date of grant of the option. At September 30, 2013, there were 414,488 shares available for grant under the plans.

	Stock based compensation is recognized as provided under FASB ASC Topic 718-10 and FASB ASC Topic 505-50. FASB ASC Topic 718-10 requires all share-based payments to employees, including grants of employee stock options, to be recognized as compensation expense over the requisite service period (generally the vesting period) in the consolidated financial statements based on their fair values. The impact of forfeitures that may occur prior to vesting is also estimated and considered in the amount recognized. Stock option compensation is recognized as an expense over the unvested portion of all stock option awards granted based on the fair values estimated at grant date in accordance with the provisions of FASB ASC Topic 718-10. The Company has applied the Black-Scholes valuation model in determining the fair value of the stock option awards. Compensation expense is recognized only for those options expected to vest, with forfeitures estimated based on historical experience and future expectations.

	There were no option grants during the six months ended September 30, 2013 or September 30, 2012.

	Option activity for the six months ended September 30, 2013 was as follows:


		Shares			Weighted Average Exercise				Weighted Average	Aggregate Intrinsic Value
					Price				Remaining
									Contractual Term
	Options outstanding, beginning of period	1,249,585			$	54.9
	Options outstanding, beginning of period	1,249,585			$	54.9
	Granted	—			—
	Granted	—			—
	Exercised	(40,345	)		35.98
	Exercised	(40,345	)		35.98
	Forfeited	(17,300	)		52.93
	Forfeited	(17,300	)		52.93
	Expired	—			—
	Expired	—			—
	Options outstanding, end of period	1,191,940			$	55.57			7.57	$	40,941,289
	Options outstanding, end of period	1,191,940			$	55.57			7.57	$	40,941,289
	Options exercisable, end of period	164,960			$	32.27			3.85	$	9,510,601
	Options exercisable, end of period	164,960			$	32.27			3.85	$	9,510,601

	The aggregate intrinsic value reflected in the table above represents the total pre-tax intrinsic value (the difference between the closing stock price on September 30, 2013 and the exercise price, multiplied by the number of in-the-money options) that would have been received by option holders had all option holders exercised their options as of September 30, 2013. This amount will change as the stock’s market price changes. The total intrinsic value of options exercised during the periods ended September 30, 2013 and 2012 was as follows:


		September 30,				September 30,
		2013				2012
	Three months ended	$	1,107,812			$	2,210,159
	Three months ended	$	1,107,812			$	2,210,159
	Six months ended	$	2,151,214			$	4,949,689
	Six months ended	$	2,151,214			$	4,949,689

	As of September 30, 2013, total unrecognized stock-based compensation expense related to non-vested stock options amounted to approximately $18.9 million, which is expected to be recognized over a weighted-average period of approximately 3.7 years.

	Restricted Stock

	On February 5, 2013, the Company granted 85,000 shares of restricted stock (which are equity classified), with a grant date fair value of $77.31 per share, respectively, to certain officers. The 85,000 shares will vest as follows, if the Company achieves the following performance goals during any successive trailing four quarters during the measurement period beginning on October 1, 2012 and ending March 31, 2017:


	Trailing 4 quarter EPS Target		Restricted Shares Eligible for Vesting (Percentage of Award)
	$13.00		25%
	$14.50		25%
	$16.50		25%
	$18.00		25%

	On December 7, 2012 , the Company granted 69,600 shares of restricted stock (which are equity classified), with a grant date fair value of $74.08 per share, respectively, to certain officers and certain independent directors. On December 11, 2012 the Company granted 1,200 shares of restricted stock (which are equity classified), with a grant date fair value of $73.41 per share, respectively, to a certain officer. The 70,800 shares will vest on April 30, 2015 based on the Company’s achievement of the following performance goals as of March 31, 2015:


	EPS Target		Restricted Shares Eligible for Vesting (Percentage of Award)
	$10.29		100%
	$9.76		67%
	$9.26		33%
	Below $9.26		0%
	On December 7, 2012, the Company granted 350,900 shares of restricted stock (which are equity classified), with a grant date fair value of $74.08 per share, respectively, to certain officers and certain independent directors. On December 11, 2012, the Company granted 7,800 shares of restricted stock (which are equity classified), with a grant date fair value of $73.41 per share, respectively, to a certain officer. The 358,700 shares will vest as follows, if the Company achieves the following performance goals during any successive trailing four quarters during the measurement period beginning on October 1, 2012 and ending March 31, 2017:


Trailing 4 quarter EPS Target		Restricted Shares Eligible for Vesting (Percentage of Award)
$13.00		25%
$14.50		25%
$16.00		25%
$18.00		25%

On November 7, 2011, the Company granted 15,077 shares of restricted stock (which are equity classified), with a grant date fair value of $67.70 per share, to certain executive officers. One-third of the restricted stock vested immediately, one-third vested on November 7, 2012, and one-third will vest on November 7, 2013, respectively. On that same date, the Company granted an additional 24,200 shares of restricted stock (which are equity classified), with a grant date fair value of $67.70 per share, to certain officers. One-third of the restricted stock vested on November 7, 2012, and one-third of the restricted stock will vest on November 7, 2013 and 2014, respectively. On that same date, the Company granted an additional 11,139 shares of restricted stock (which are equity classified), with a grant date fair value of $67.70 per share, to certain executive officers. The 11,139 shares will vest on April 30, 2014 based on the Company’s compounded annual EPS growth according to the following schedule:



Vesting Percentage		Compounded Annual EPS Growth
100%		15% or higher
67%		12% - 14.99%
33%		10% - 11.99%
0%		Below 10%

On November 8, 2010, the Company granted 29,080 shares of restricted stock (which are equity classified), with a grant date fair value of $43.04 per share, to certain officers. One-third of the restricted stock vested immediately, one-third vested on November 8, 2011 and the final third vested on November 8, 2012, respectively. On that same date, the Company granted an additional 15,871 shares of restricted stock (which are equity classified), with a grant date fair value of $43.04 per share, to certain executive officers. The 15,871 shares vested on April 30, 2013.

Compensation expense related to restricted stock is based on the number of shares expected to vest and the fair market value of the common stock on the grant date. The Company recognized approximately $1.9 million and $0.6 million, respectively, of compensation expense for the three months ended September 30, 2013 and 2012 and recognized approximately $4.1 million and $1.8 million, respectively, for the six months ended September 30, 2013 and 2012 related to restricted stock, which is included as a component of general and administrative expenses in the Company’s Consolidated Statements of Operations.

As of September 30, 2013, there was approximately $19.7 million of unrecognized compensation cost related to unvested restricted stock awards granted, which is expected to be recognized over the next 3.0 years. In addition there was approximately $7.1 million of unrecognized compensation cost related to unvested restricted stock awards granted, which are not expected to vest based on current estimates. If these estimates change the $7.1 million could be expensed in future periods.

A summary of the status of the Company’s restricted stock as of September 30, 2013, and changes during the six months ended September 30, 2013, are presented below:


	Shares			Weighted Average Fair Value at Grant Date
Outstanding at March 31, 2013	562,456			$	73.32
Outstanding at March 31, 2013	562,456			$	73.32
Granted during the period	—			—
Granted during the period	—			—
Vested during the period, net of cancellations	(10,563	)		43.04
Vested during the period, net of cancellations	(10,563	)		43.04
Canceled during the period	(5,308	)		88.86
Canceled during the period	(5,308	)		88.86
Outstanding at September 30, 2013	546,585			$	74.2
Outstanding at September 30, 2013	546,585			$	74.2

Total share-based compensation included as a component of net income during the three months and six months ended September 30, 2013 and 2012 was as follows:



	Three months ended September 30,							Six months ended September 30,
	2013				2012			2013			2012
	2013				2012			2013			2012
Share-based compensation related to equity classified awards:
Share-based compensation related to stock options	$	2,643,855			1,270,993			$	5,139,768		2,493,015
Share-based compensation related to stock options	$	2,643,855			1,270,993			$	5,139,768		2,493,015
Share-based compensation related to restricted stock units	1,917,730				576,507			4,106,716			1,832,391
Share-based compensation related to restricted stock units	1,917,730				576,507			4,106,716			1,832,391

Total share-based compensation related to equity classified awards	$	4,561,585			1,847,500			$	9,246,484		4,325,406
	$	4,561,585			1,847,500			$	9,246,484		4,325,406

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Sep. 30, 2013
Business Combinations [Abstract]	'
ACQUISITIONS	'
	ACQUISITIONS

	The Company evaluates each acquisition to determine if the acquired enterprise meets the definition of a business. Those acquired enterprises that meet the definition of a business are accounted for as a business combination under FASB ASC Topic 805-10 and all other acquisitions are accounted for as asset purchases. All acquisitions have been from independent third parties.

	The following table sets forth the acquisition activity of the Company for the six months ended September 30, 2013 and 2012:



		2013		2012
	Number of business combinations	1		3

	Number of asset purchases	5		3

	Total acquisitions	6		6


	Purchase Price	$	993,500	1,406,325

	Tangible assets:

	Net loans	715,563		1,037,264

	Furniture, fixtures & equipment	1,500		8,000

		717,063		1,045,264


	Excess of purchase prices over carrying value of net tangible assets	$	276,437	361,061


	Customer lists	175,598		125,707

	Non-compete agreements	30,000		30,000

	Goodwill	70,839		205,354


	Total intangible assets	$	276,437	361,061


	When the acquisition results in a new office, the Company records the transaction as a business combination, since the office acquired will continue to generate loans. The Company typically retains the existing employees and the office location. The purchase price is allocated to the estimated fair value of the tangible assets acquired and to the estimated fair value of the identified intangible assets acquired (generally non-compete agreements and customer lists). The remainder is allocated to goodwill. During the six months ended September 30, 2013, one acquisition was recorded as a business combination.

	When the acquisition is of a portfolio of loans only, the Company records the transaction as an asset purchase. In an asset purchase, no goodwill is recorded. The purchase price is allocated to the estimated fair value of the tangible and intangible assets acquired. There were five acquisitions recorded as asset acquisitions during the six months ended September 30, 2013.

	The Company’s acquisitions include tangible assets (generally loans and furniture and equipment) and intangible assets (generally non-compete agreements, customer lists, and goodwill), both of which are recorded at their fair values, which are estimated pursuant to the processes described below.

	Acquired loans are valued at the net loan balance. Given the short-term nature of these loans, generally eight months, and that these loans are subject to continual repricing at current rates, management believes the net loan balances approximate their fair value.

	Furniture and equipment are valued at the specific purchase price as agreed to by both parties at the time of acquisition, which management believes approximates their fair values.

	Non-compete agreements are valued at the stated amount paid to the other party for these agreements, which the Company believes approximates the fair value. The fair value of the customer lists is based on a valuation model that utilizes the Company’s historical data to estimate the value of any acquired customer lists. In a business combination the remaining excess of the purchase price over the fair value of the tangible assets, customer list, and non-compete agreements is allocated to goodwill. The offices the Company acquires are small privately owned offices, which do not have sufficient historical data to determine attrition. The Company believes that the customers acquired have the same characteristics and perform similarly to its customers. Therefore, the Company utilized the attrition patterns of its customers when developing the method. This method is re-evaluated periodically.

	Customer lists are allocated at an office level and are evaluated for impairment at an office level when a triggering event occurs, in accordance with FASB ASC Topic 360-10-5. If a triggering event occurs, the impairment loss to the customer list is generally the remaining unamortized customer list balance. In most acquisitions, the original fair value of the customer list allocated to an office is less than $100,000, and management believes that in the event a triggering event were to occur, the impairment loss to an unamortized customer list would be immaterial.

	The results of all acquisitions have been included in the Company’s consolidated financial statements since the respective acquisition dates. The pro forma impact of these purchases as though they had been acquired at the beginning of the periods presented would not have a material effect on the consolidated results of operations as reported.

DEBT

DEBT	6 Months Ended
DEBT	Sep. 30, 2013
Debt Disclosure [Abstract]	'
DEBT	'
	DEBT

	The Company's note payable consists of a $680.0 million senior note payable revolving credit facility with $486.9 million outstanding at September 30, 2013. Subject to a borrowing base formula, the Company may borrow at the rate of LIBOR plus 3.0% with a minimum of 4.0%. At September 30, 2013 and March 31, 2013, the Company’s effective interest rate, including the commitment fee, was 4.5% and 5.1%, respectively, and the unused amount available under the revolver at September 30, 2013 was $127.9 million. The Company also had $65.2 million that may become available under the revolving credit facility if it grows the net eligible finance receivables. The revolving credit facility has a commitment fee of 0.40% per annum on the unused portion of the commitment. Borrowings under the revolving credit facility mature on November 19, 2015.

	Substantially all of the Company’s assets are pledged as collateral for borrowings under the revolving credit agreement.

INCOME_TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
INCOME TAXES	'
	INCOME TAXES

	The Company is required to assess whether the earnings of our two Mexican foreign subsidiaries, Servicios World Acceptance Corporation de México, S. de R.L. de C.V. (“SWAC”) and WAC de México, S.A. de C.V., SOFOM ENR (“WAC de Mexico”), will be permanently reinvested in the respective foreign jurisdiction or if previously untaxed foreign earnings of the Company will no longer be permanently reinvested and thus become taxable in the United States. If these earnings were ever repatriated to the United States, the Company would be required to accrue and pay taxes on the cumulative undistributed earnings. As of September 30, 2013, the Company has determined that approximately $1.1 million of cumulative undistributed net earnings of SWAC and approximately $10.2 million of cumulative undistributed net earnings of WAC de México, as well as the future net earnings and losses of both foreign subsidiaries, will be permanently reinvested.

	As of September 30, 2013 and March 31, 2013, the Company had $3.4 million and $3.2 million, respectively, of total gross unrecognized tax benefits including interest. Approximately $1.7 million and $1.6 million, respectively, represent the amount of net unrecognized tax benefits that are permanent in nature and, if recognized, would affect the annual effective tax rate. At September 30, 2013, approximately $2.0 million of gross unrecognized tax benefits are expected to be resolved during the next 12 months through the expiration of the statute of limitations and settlement with taxing authorities. The Company’s continuing practice is to recognize interest and penalties related to income tax matters in income tax expense. As of September 30, 2013, the Company had $532,000 accrued for gross interest, of which $115,000 was a current period end expense.

	The Company is subject to U.S. and Mexican income taxes, as well as various other state and local jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2009, although carryforward attributes that were generated prior to 2009 may still be adjusted upon examination by the taxing authorities if they either have been or will be used in a future period.

LITIGATION

LITIGATION	6 Months Ended
LITIGATION	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
LITIGATION	'
	LITIGATION

	At September 30, 2013, the Company and certain of its subsidiaries have been named as defendants or are otherwise involved in various legal actions and proceedings arising from their normal business activities, including matters in which damages in various amounts are claimed. In view of the inherent difficulty in predicting the outcome of legal matters, particularly where the claimants seek very large or indeterminate damages, the matters present novel legal theories, potentially involve a large number of parties or are in the early stages, the Company generally cannot predict the eventual outcome of these pending matters, nor the timing of the ultimate resolution of such matters or the eventual loss, fines, penalties, settlement or other impact, if any, related to such matters. The Company does not believe, however, that any reasonably possible losses arising from any currently pending legal matters will be material to the Company’s consolidated financial statements.

SUMMARY_OF_SIGNIFICANT_POLICIE1

SUMMARY OF SIGNIFICANT POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT POLICIES (Policies)	Sep. 30, 2013
Accounting Policies [Abstract]	'
Recently Issued Accounting Pronouncements	'
	New Accounting Pronouncements Adopted

	Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.

	In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-2, which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. The new guidance requires an entity to disaggregate the total change of each component of other comprehensive income either on the face of the income statement or as a separate disclosure in the notes to the financial statements. The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income in financial statements. ASU 2013-02 is effective for fiscal years beginning after December 15, 2012. The adoption of ASU No. 2013-2 on April 1, 2013 did not have a material impact on our consolidated financial statements.

FAIR_VALUE_Tables

FAIR VALUE (Tables)	6 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Book value and estimated fair value of the Company's long-term debt	'
	The book value and estimated fair value of our long-term debt was as follows (in thousands):



		September 30,		March 31,
		2013		2013
	Book value and estimated fair value:
	Senior note payable	$	486,850	400,250

ALLOWANCE_FOR_LOAN_LOSSES_Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	6 Months Ended
	Sep. 30, 2013
Receivables [Abstract]	'
Summary of changes in the allowance for loan losses	'
	The following is a summary of the changes in the allowance for loan losses for the periods indicated:



		Three months ended September 30,					Six months ended September 30,
		2013			2012		2013			2012
	Balance at beginning of period	$	61,630,967		55,670,131		$	59,980,842		54,507,299

	Provision for loan losses	38,187,649			32,401,664		66,890,842			56,016,554

	Loan losses	(35,261,797		)	(29,711,502	)	(65,375,871		)	(54,918,604	)
	Recoveries	3,135,796			2,785,824		6,447,978			5,721,438

	Translation adjustment	(84,610		)	182,660		(335,786		)	2,090

	Balance at end of period	$	67,608,005		61,328,777		$	67,608,005		61,328,777

Summary of loans individually and collectively evaluated for impairment	'
	The following is a summary of loans individually and collectively evaluated for impairment for the period indicated:



	September 30, 2013	Loans individually			Loans collectively		Total
		evaluated for			evaluated for
		impairment			impairment
		(impaired loans)
	Bankruptcy, gross loans	$	6,437,259		—		6,437,259

	91 days or more delinquent, excluding bankruptcy	28,646,649			—		28,646,649

	Loans less than 91 days delinquent and not in bankruptcy	—			1,128,153,780		1,128,153,780

	Gross loan balance	35,083,908			1,128,153,780		1,163,237,688

	Unearned interest and fees	(7,900,928		)	(313,079,173	)	(320,980,101	)
	Net loans	27,182,980			815,074,607		842,257,587

	Allowance for loan losses	(27,182,980		)	(40,425,025	)	(67,608,005	)
	Loans, net of allowance for loan losses	$	—		774,649,582		774,649,582




	March 31, 2013	Loans individually			Loans collectively		Total
		evaluated for			evaluated for
		impairment			impairment
		(impaired loans)
	Bankruptcy, gross loans	$	5,910,206		—		5,910,206

	91 days or more delinquent, excluding bankruptcy	23,536,170			—		23,536,170

	Loans less than 91 days delinquent and not in bankruptcy	—			1,037,605,387		1,037,605,387

	Gross loan balance	29,446,376			1,037,605,387		1,067,051,763

	Unearned interest and fees	(6,036,018		)	(278,920,177	)	(284,956,195	)
	Net loans	23,410,358			758,685,210		782,095,568

	Allowance for loan losses	(23,410,358		)	(36,570,484	)	(59,980,842	)
	Loans, net of allowance for loan losses	$	—		722,114,726		722,114,726



	September 30, 2012	Loans individually			Loans collectively		Total
		evaluated for			evaluated for
		impairment			impairment
		(impaired loans)
	Bankruptcy, gross loans	$	6,688,992		—		6,688,992

	91 days or more delinquent, excluding bankruptcy	22,281,854			—		22,281,854

	Loans less than 91 days delinquent and not in bankruptcy	—			1,058,930,865		1,058,930,865

	Gross loan balance	28,970,846			1,058,930,865		1,087,901,711

	Unearned interest and fees	(5,745,076		)	(291,661,460	)	(297,406,536	)
	Net loans	23,225,770			767,269,405		790,495,175

	Allowance for loan losses	(22,914,103		)	(38,414,674	)	(61,328,777	)
	Loans, net of allowance for loan losses	$	311,667		728,854,731		729,166,398

Assessment of the credit quality	'
	The following is an assessment of the credit quality for the period indicated:


		September 30,			March 31,		September 30,
		2013			2013		2012
	Credit risk
	Consumer loans- non-bankrupt accounts	$	1,156,800,429		1,061,141,557		1,081,212,719

	Consumer loans- bankrupt accounts	6,437,259			5,910,206		6,688,992

	Total gross loans	$	1,163,237,688		1,067,051,763		1,087,901,711


	Consumer credit exposure

	Credit risk profile based on payment activity, performing	$	1,101,669,295		1,020,337,490		1,041,729,308

	Contractual non-performing, 61 or more days delinquent	61,568,393			46,714,273		46,172,403

	Total gross loans	$	1,163,237,688		1,067,051,763		1,087,901,711


	Delinquent renewals	$	23,170,833		19,799,064		21,789,534


	Credit risk profile based on customer type

	New borrower	$	143,398,274		130,897,466		120,930,075

	Former borrower	113,787,457			90,281,773		100,446,957

	Refinance	882,881,124			826,073,460		844,735,145

	Delinquent refinance	23,170,833			19,799,064		21,789,534

	Total gross loans	$	1,163,237,688		1,067,051,763		1,087,901,711

Summary of the past due receivables	'
	The following is a summary of the past due receivables as of:



		September 30,			March 31,		September 30,
		2013			2013		2012
	Contractual basis:

	30-60 days past due	$	46,063,021		37,674,267		44,956,309

	61-90 days past due	32,552,615			22,773,063		23,542,582

	91 days or more past due	29,015,778			23,941,210		22,629,821

	Total	$	107,631,414		84,388,540		91,128,712


	Percentage of period-end gross loans receivable	9.3		%	7.9	%	8.4	%

AVERAGE_SHARE_INFORMATION_Tabl

AVERAGE SHARE INFORMATION (Tables)	6 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Summary of basic and diluted average common shares outstanding	'
	The following is a summary of the basic and diluted average common shares outstanding:



		Three months ended September 30,		Six months ended September 30,
		2013	2012	2013	2012
	Basic:
	Weighted average common shares outstanding (denominator)	11,629,326	12,985,345	11,814,675	13,298,372


	Diluted:

	Weighted average common shares outstanding	11,629,326	12,985,345	11,814,675	13,298,372

	Dilutive potential common shares stock options	350,613	301,933	345,084	297,872

	Weighted average diluted shares outstanding (denominator)	11,979,939	13,287,278	12,159,759	13,596,244

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Summary schedule of stock option activity	'
	Option activity for the six months ended September 30, 2013 was as follows:


		Shares		Weighted Average Exercise			Weighted Average		Aggregate Intrinsic Value
				Price			Remaining
							Contractual Term
	Options outstanding, beginning of period	1,249,585		$	54.9

	Granted	—		—

	Exercised	(40,345	)	35.98

	Forfeited	(17,300	)	52.93

	Expired	—		—

	Options outstanding, end of period	1,191,940		$	55.57		7.57		$	40,941,289

	Options exercisable, end of period	164,960		$	32.27		3.85		$	9,510,601

Intrinsic value of options exercised	'
	The total intrinsic value of options exercised during the periods ended September 30, 2013 and 2012 was as follows:


		September 30,			September 30,
		2013			2012
	Three months ended	$	1,107,812		$	2,210,159

	Six months ended	$	2,151,214		$	4,949,689

Shares vesting based on the compounded annual EPS growth	'
	The 11,139 shares will vest on April 30, 2014 based on the Company’s compounded annual EPS growth according to the following schedule:



	Vesting Percentage		Compounded Annual EPS Growth
	100%		15% or higher
	67%		12% - 14.99%
	33%		10% - 11.99%
	0%		Below 10%
	The 358,700 shares will vest as follows, if the Company achieves the following performance goals during any successive trailing four quarters during the measurement period beginning on October 1, 2012 and ending March 31, 2017:


	Trailing 4 quarter EPS Target		Restricted Shares Eligible for Vesting (Percentage of Award)
	$13.00		25%
	$14.50		25%
	$16.00		25%
	$18.00		25%
	The 70,800 shares will vest on April 30, 2015 based on the Company’s achievement of the following performance goals as of March 31, 2015:


	EPS Target		Restricted Shares Eligible for Vesting (Percentage of Award)
	$10.29		100%
	$9.76		67%
	$9.26		33%
	Below $9.26		0%
	The 15,871 shares vested on April 30, 2013
Summary of the status and changes restricted stock	'
	A summary of the status of the Company’s restricted stock as of September 30, 2013, and changes during the six months ended September 30, 2013, are presented below:


		Shares		Weighted Average Fair Value at Grant Date
	Outstanding at March 31, 2013	562,456		$	73.32

	Granted during the period	—		—

	Vested during the period, net of cancellations	(10,563	)	43.04

	Canceled during the period	(5,308	)	88.86

	Outstanding at September 30, 2013	546,585		$	74.2


Share-based compensation included as a component of net income	'
	Total share-based compensation included as a component of net income during the three months and six months ended September 30, 2013 and 2012 was as follows:



		Three months ended September 30,					Six months ended September 30,
		2013			2012		2013				2012

	Share-based compensation related to equity classified awards:
	Share-based compensation related to stock options	$	2,643,855		1,270,993		$	5,139,768			2,493,015

	Share-based compensation related to restricted stock units	1,917,730			576,507		4,106,716				1,832,391


	Total share-based compensation related to equity classified awards	$	4,561,585		1,847,500		$	9,246,484			4,325,406

ACQUISITIONS_Tables

ACQUISITIONS (Tables)	6 Months Ended
	Sep. 30, 2013
Business Combinations [Abstract]	'
Acquisition activity	'
	The following table sets forth the acquisition activity of the Company for the six months ended September 30, 2013 and 2012:



		2013		2012
	Number of business combinations	1		3

	Number of asset purchases	5		3

	Total acquisitions	6		6


	Purchase Price	$	993,500	1,406,325

	Tangible assets:

	Net loans	715,563		1,037,264

	Furniture, fixtures & equipment	1,500		8,000

		717,063		1,045,264


	Excess of purchase prices over carrying value of net tangible assets	$	276,437	361,061


	Customer lists	175,598		125,707

	Non-compete agreements	30,000		30,000

	Goodwill	70,839		205,354


	Total intangible assets	$	276,437	361,061

FAIR_VALUE_Details

FAIR VALUE (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Book value of debt [Abstract]	'	'
Senior notes payable	$486,850,000	$400,250,000
Book value [Member] \| Senior notes payable [Member]	'	'
Book value of debt [Abstract]	'	'
Senior notes payable	$486,850,000	$400,250,000

ALLOWANCE_FOR_LOAN_LOSSES_Deta

ALLOWANCE FOR LOAN LOSSES (Details) (USD $)	3 Months Ended		6 Months Ended
ALLOWANCE FOR LOAN LOSSES (Details) (USD $)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Mar. 31, 2013
Allowance for Loan Losses [Roll Forward]	'	'	'	'	'
Balance at beginning of period	$61,630,967	$55,670,131	$59,980,842	$54,507,299	'
Provision for loan losses	38,187,649	32,401,664	66,890,842	56,016,554	'
Loan losses	-35,261,797	-29,711,502	-65,375,871	-54,918,604	'
Recoveries	3,135,796	2,785,824	6,447,978	5,721,438	'
Translation adjustment	-84,610	182,660	-335,786	2,090	'
Balance at end of period	67,608,005	61,328,777	67,608,005	61,328,777	'
Summary of loans individually and collectively evaluated for impairment [Abstract]	'	'	'	'	'
Bankruptcy, gross loans	6,437,259	6,688,992	6,437,259	6,688,992	5,910,206
91 days or more delinquent, excluding bankruptcy	28,646,649	22,281,854	28,646,649	22,281,854	23,536,170
Loans less than 91 days delinquent and not in bankruptcy	1,128,153,780	1,058,930,865	1,128,153,780	1,058,930,865	1,037,605,387
Gross loan balance	1,163,237,688	1,087,901,711	1,163,237,688	1,087,901,711	1,067,051,763
Unearned interest and fees	-320,980,101	-297,406,536	-320,980,101	-297,406,536	-284,956,195
Net loans	842,257,587	790,495,175	842,257,587	790,495,175	782,095,568
Allowance for loan losses	-67,608,005	-61,328,777	-67,608,005	-61,328,777	'
Loans receivable, net	774,649,582	729,166,398	774,649,582	729,166,398	722,114,726
Loans individually evaluated for impairment (impaired loans) [Member]	'	'	'	'	'
Allowance for Loan Losses [Roll Forward]	'	'	'	'	'
Balance at beginning of period	'	'	'	'	23,410,358
Balance at end of period	27,182,980	22,914,103	27,182,980	22,914,103	23,410,358
Summary of loans individually and collectively evaluated for impairment [Abstract]	'	'	'	'	'
Bankruptcy, gross loans	6,437,259	6,688,992	6,437,259	6,688,992	5,910,206
91 days or more delinquent, excluding bankruptcy	28,646,649	22,281,854	28,646,649	22,281,854	23,536,170
Loans less than 91 days delinquent and not in bankruptcy	0	0	0	0	0
Gross loan balance	35,083,908	28,970,846	35,083,908	28,970,846	29,446,376
Unearned interest and fees	-7,900,928	-5,745,076	-7,900,928	-5,745,076	-6,036,018
Net loans	27,182,980	23,225,770	27,182,980	23,225,770	23,410,358
Allowance for loan losses	-27,182,980	-22,914,103	-27,182,980	-22,914,103	-23,410,358
Loans receivable, net	0	311,667	0	311,667	0
Loans collectively evaluated for impairment [Member]	'	'	'	'	'
Allowance for Loan Losses [Roll Forward]	'	'	'	'	'
Balance at beginning of period	'	'	'	'	36,570,484
Balance at end of period	40,425,025	38,414,674	40,425,025	38,414,674	36,570,484
Summary of loans individually and collectively evaluated for impairment [Abstract]	'	'	'	'	'
Bankruptcy, gross loans	0	0	0	0	0
91 days or more delinquent, excluding bankruptcy	0	0	0	0	0
Loans less than 91 days delinquent and not in bankruptcy	1,128,153,780	1,058,930,865	1,128,153,780	1,058,930,865	1,037,605,387
Gross loan balance	1,128,153,780	1,058,930,865	1,128,153,780	1,058,930,865	1,037,605,387
Unearned interest and fees	-313,079,173	-291,661,460	-313,079,173	-291,661,460	-278,920,177
Net loans	815,074,607	767,269,405	815,074,607	767,269,405	758,685,210
Allowance for loan losses	-40,425,025	-38,414,674	-40,425,025	-38,414,674	-36,570,484
Loans receivable, net	$774,649,582	$728,854,731	$774,649,582	$728,854,731	$722,114,726

ALLOWANCE_FOR_LOAN_LOSSES_Asse

ALLOWANCE FOR LOAN LOSSES (Assessment of Credit Quality) (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2012
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	$1,163,237,688	$1,067,051,763	$1,087,901,711
New borrower [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	143,398,274	130,897,466	120,930,075
Former borrower [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	113,787,457	90,281,773	100,446,957
Refinance [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	882,881,124	826,073,460	844,735,145
Delinquent refinance [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	23,170,833	19,799,064	21,789,534
Performing [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	1,101,669,295	1,020,337,490	1,041,729,308
Contractual non-performing [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	61,568,393	46,714,273	46,172,403
Consumer loans- non-bankrupt accounts [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	1,156,800,429	1,061,141,557	1,081,212,719
Consumer loans- bankrupt accounts [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	$6,437,259	$5,910,206	$6,688,992

ALLOWANCE_FOR_LOAN_LOSSES_Summ

ALLOWANCE FOR LOAN LOSSES (Summary of Past Due Receivables) (Details) (Contractual basis [Member], USD $)	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2012
Contractual basis [Member]	'	'	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'	'
30-60 days past due	$46,063,021	$37,674,267	$44,956,309
61-90 days past due	32,552,615	22,773,063	23,542,582
91 days or more past due	29,015,778	23,941,210	22,629,821
Financing Receivable, Recorded Investment, Past Due	$107,631,414	$84,388,540	$91,128,712
Percentage of period end gross loans receivable	9.30%	7.90%	8.40%

AVERAGE_SHARE_INFORMATION_Deta

AVERAGE SHARE INFORMATION (Details)	3 Months Ended		6 Months Ended
AVERAGE SHARE INFORMATION (Details)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Basic:	'	'	'	'
Weighted average common shares outstanding (in shares)	11,629,326	12,985,345	11,814,675	13,298,372
Diluted:	'	'	'	'
Weighted average common shares outstanding (in shares)	11,629,326	12,985,345	11,814,675	13,298,372
Dilutive potential common shares stock options (in shares)	350,613	301,933	345,084	297,872
Weighted average diluted shares outstanding (in shares)	11,979,939	13,287,278	12,159,759	13,596,244
Antidilutive options excluded from computation of diluted earnings per share (in shares)	347,834	215,300	556,010	215,655

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)

3 Months Ended

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Sep. 30, 2013

Mar. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Mar. 31, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Nov. 30, 2011

Nov. 30, 2010

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Nov. 07, 2011

Nov. 08, 2010

Nov. 07, 2011

Nov. 08, 2010

Sep. 30, 2013

Feb. 06, 2013

Dec. 07, 2012

Dec. 11, 2012

Sep. 30, 2013

Dec. 07, 2012

Dec. 11, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Stock Options Plans [Member]

Restricted Stock [Member]

Equity Securities [Member]

Performance Shares [Member]

Maximum [Member]

15% or higher [Member]

12% - 14.99% [Member]

10% - 11.99% [Member]

Below 10% [Member]

Vesting Percentage 100% [Member]

Vesting Percentage 67% [Member]

Vesting Percentage 33% [Member]

Vesting Percentage 0% [Member]

Service Based Award [Member]

Performance Based Awards [Member]

EPS Target [Member]

Trailing Four Quarter EPS Target [Member]

Stock Options Plans [Member]

Restricted Stock [Member]

Officers [Member]

Executive Officers [Member]

Performance Based Awards [Member]

$10.29 EPS [Member]

$9.76 EPS [Member]

$9.26 EPS [Member]

Below $9.26 EPS [Member]

Performance Based Awards [Member]

$13.00 [Member]

$14.50 [Member]

$16.00 [Member]

$18.00 [Member]

Officers [Member]

EPS Target [Member]

Directors and Officers [Member]

Officers [Member]

Directors and Officers [Member]

Officers [Member]

Below $9.26 EPS [Member]

Stock Option Plans [Abstract]

Shares of authorized common stock reserved for issuance (in shares)

4,100,000

Vesting period

'10 years

'5 years

Number of shares available for grant (in shares)

414,488

Weighted-average fair value at the grant date

Options Activity [Roll Forward]

Options outstanding, beginning of year (in shares)

1,249,585

Granted (in shares)

Exercised (in shares)

-40,345

-332,665

-40,345

Forfeited (in shares)

-17,300

Expired (in shares)

Options outstanding, end of period (in shares)

1,191,940

Options exercisable, end of period (in shares)

164,960

Weighted Average Exercise Price [Roll Forward]

Options outstanding, beginning of year (in dollars per share)

$54.90

Granted (in dollars per share)

Exercised (in dollars per share)

$35.98

Forfeited (in dollars per share)

$52.93

Expired (in dollars per share)

Options outstanding, end of period (in dollars per share)

$55.57

Options exercisable, end of period (in dollars per share)

$32.27

Stock Option Activity Additional Disclosures [Abstract]

Weighted-average remaining contractual term, Options outstanding, end of period

'7 years 6 months 26 days

Weighted-average remaining contractual terms, Options exercisable, end of period

'3 years 10 months 6 days

Aggregate intrinsic value, Options outstanding, end of period

$40,941,289

Aggregate intrinsic value, Options exercisable, end of period

9,510,601

Intrinsic value of options exercised

1,107,812

2,210,159

2,151,214

4,949,689

Compensation Cost Not yet Recognized [Abstract]

Total unrecognized stock-based compensation expense related to non-vested stock options

18,900,000

Weighted average period for recognition

'3 years 8 months 1 day

'3 years 0 months 11 days

Restricted Stock [Abstract]

Awards granted (in shares)

Grant date fair value (in dollars per share)

$67.70

$43.04

$67.70

$43.04

$77.31

$74.08

$73.41

$74.08

$73.41

Award vesting date

30-Apr-14

30-Apr-13

30-Apr-15

Ratio of restricted stock vesting immediately (in hundredths)

33.33%

Ratio of restricted stock vesting after year one (in hundredths)

33.33%

Ratio of restricted stock vesting after year two (in hundredths)

33.33%

Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]

Vesting Percentage (in hundredths)

100.00%

67.00%

33.00%

0.00%

100.00%

67.00%

33.00%

0.00%

25.00%

EPS Target

10.29

9.76

9.26

14.5

9.26

Compounded Annual EPS Growth, Minimum (in hundredths)

15.00%

12.00%

10.00%

Compounded Annual EPS Growth, Maximum (in hundredths)

14.99%

11.99%

10.00%

Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options

19,700,000

Weighted average period for recognition

'3 years 8 months 1 day

'3 years 0 months 11 days

Unrecognized compensation cost related to unvested restricted stock awards granted

7,098,223

Summary of the status and changes in restricted stock [Roll Forward]

Outstanding at March 31, 2012 (in shares)

562,456

Awards granted (in shares)

24,200

15,077

29,080

11,139

15,871

70,800

85,000

69,600

1,200

358,700

350,900

7,800

Vested during the period, net of cancellations (in shares)

-10,563

Cancelled during the period (in shares)

-5,308

Outstanding at June 30, 2012 (in shares)

546,585

Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]

Outstanding at March 31, 2012 (in dollars per share)

$73.32

Grant date fair value (in dollars per share)

$67.70

$43.04

$67.70

$43.04

$77.31

$74.08

$73.41

$74.08

$73.41

Vested during the period, net of cancellations (in dollars per share)

$43.04

Cancelled during the period (in dollars per share)

$88.86

Outstanding at June 30, 2012 (in dollars per share)

$74.20

Compensation related to stock option and restricted stock plans

$8,774,815

$3,810,220

$2,643,855

$1,270,993

$5,139,768

$2,493,015

$1,917,730

$576,507

$4,106,716

$1,832,391

$4,561,585

$1,847,500

$9,246,484

$4,325,406

ACQUISITIONS_Details

ACQUISITIONS (Details) (USD $)	6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
	asset_purchase	business_combination
	acquisition	asset_purchase
	business_combination	acquisition
Business Acquisition [Line Items]	'	'
Number of offices purchased	1	3
Merged into existing offices	5	3
Total acquisitions	6	6
Tangible assets [Abstract]	'	'
Loans and Leases Receivable, Average Loan Period	'8 months	'
Original fair value of customer list for an office acquisition, description	'less than $100,000	'
Series of Business Acquisitions [Member]	'	'
Business Acquisition [Line Items]	'	'
Purchase price	993,500	1,406,325
Tangible assets [Abstract]	'	'
Net loans	715,563	1,037,264
Furniture, fixtures & equipment	1,500	8,000
Tangible assets acquired	717,063	1,045,264
Excess of purchase prices over carrying value of net tangible assets	276,437	361,061
Goodwill	70,839	205,354
Total intangible assets	276,437	361,061
Series of Business Acquisitions [Member] \| Customer lists [Member]	'	'
Tangible assets [Abstract]	'	'
Finite-lived intangible assets	175,598	125,707
Series of Business Acquisitions [Member] \| Non-compete agreements [Member]	'	'
Tangible assets [Abstract]	'	'
Finite-lived intangible assets	30,000	30,000

DEBT_Details

DEBT (Details) (Revolving Credit Facility [Member], USD $)	6 Months Ended
DEBT (Details) (Revolving Credit Facility [Member], USD $)	Sep. 30, 2013	Sep. 30, 2012
Revolving Credit Facility [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Maximum borrowing capacity	$680,000,000	'
Amount outstanding	486,900,000	'
Reference rate	'LIBOR	'
Basis spread on variable rate (in hundredths)	3.00%	'
Debt instrument interest rate, minimum (in hundredths)	4.00%	'
Debt instrument effective interest rate (in hundredths)	4.50%	5.10%
Unused amount available	127,900,000	'
Line Of Credit Facility Additional Remaining Borrowing Capacity	$65,200,000	'
Commitment fee percentage (in hundredths)	0.40%	'
Expiration date	19-Nov-15	'

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
	foreign_subsidiary	Sep. 30, 2012
Income Tax Contingency [Line Items]	'	'
Number of foreign subsidiaries required to be assessed	2	'
Total gross unrecognized tax benefits including interest	$3,400,000	$3,200,000
Unrecognized tax benefits that are permanent in nature and, if recognized, would affect the annual effective tax rate	1,700,000	1,600,000
Gross unrecognized tax benefits expected to be resolved during the next 12 months through settlements with taxing authorities or the expiration of the statute of limitations	2,000,000	'
Specified period for resolution of unrecognized tax benefits	'12 months	'
Accrued gross interest	532,000	'
Current period gross interest expense	115,000	'
Servicios World Acceptance Corporation de Mexico, S. de R.L. de C.V. [Member]	'	'
Income Tax Contingency [Line Items]	'	'
Cumulative undistributed net earnings permanently reinvested in Mexican foreign subsidiaries	1,100,000	'
WAC de Mexico, S.A. de C.V., SOFOM ENR [Member]	'	'
Income Tax Contingency [Line Items]	'	'
Cumulative undistributed net earnings permanently reinvested in Mexican foreign subsidiaries	$10,200,000	'