World Acceptance (WRLD) 10-Q6 Aug 142015 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Jun. 30, 2014	Aug. 01, 2014
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	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	9,575,547
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q1	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'

CONSOLIDATED_BALANCE_SHEETS_Un

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Jun. 30, 2014	Mar. 31, 2014
ASSETS	'	'
Cash and cash equivalents	$16,044,751	$19,569,683
Gross loans receivable	1,164,367,908	1,112,307,335
Less:	'	'
Unearned interest and fees	315,506,368	298,387,520
Allowance for loan losses	-67,885,227	-63,254,940
Loans receivable, net	780,976,313	750,664,875
Property and equipment, net	25,637,237	24,826,238
Deferred income taxes	34,495,110	33,514,189
Other assets, net	12,106,647	11,707,639
Goodwill	5,967,127	5,967,127
Intangible assets, net	3,638,920	3,777,810
Total assets	878,866,105	850,027,561
Liabilities:	'	'
Senior notes payable	548,100,000	505,500,000
Income taxes payable	20,013,098	9,521,285
Accounts payable and accrued expenses	26,457,981	27,650,955
Total liabilities	594,571,079	542,672,240
Commitments and contingencies	'	'
Shareholders' equity:	'	'
Preferred stock, no par value	0	0
Common stock, no par value	0	0
Additional paid-in capital	122,060,139	118,365,503
Retained earnings	165,748,908	193,095,944
Accumulated other comprehensive loss	-3,514,021	-4,106,126
Total shareholders' equity	284,295,026	307,355,321
Total liabilities and shareholders' equity	$878,866,105	$850,027,561

CONSOLIDATED_BALANCE_SHEETS_Un1

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)	Jun. 30, 2014	Mar. 31, 2014
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)	9,612,467	10,262,384
Common stock, shares outstanding (in shares)	9,612,467	10,262,384

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	Jun. 30, 2014	Jun. 30, 2013
Revenues:	'	'
Interest and fee income	$134,415,807	$127,977,921
Insurance commissions and other income	15,896,169	17,287,206
Total revenues	150,311,976	145,265,127
Expenses:	'	'
Provision for loan losses	30,893,266	28,703,193
General and administrative expenses:	'	'
Personnel	54,239,292	53,309,675
Occupancy and equipment	10,063,894	9,378,970
Advertising	3,161,666	2,723,255
Amortization of intangible assets	201,758	311,502
Other	10,044,533	9,513,684
Total general and administrative expenses	77,711,143	75,237,086
Interest expense	5,564,455	4,676,454
Total expenses	114,168,864	108,616,733
Income before income taxes	36,143,112	36,648,394
Income taxes	13,587,777	13,536,693
Net income	$22,555,335	$23,111,701
Net income per common share:	'	'
Basic (in dollars per share)	$2.26	$1.93
Diluted (in dollars per share)	$2.19	$1.87
Weighted average common shares outstanding:	'	'
Basic (in shares)	10,001,196	12,002,061
Diluted (in shares)	10,289,755	12,342,690

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'
Net income	$22,555,335	$23,111,701
Foreign currency translation adjustments	592,105	-3,019,747
Comprehensive income	$23,147,440	$20,091,954

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, 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	13,662,510	13,662,510	'	'
Common stock repurchases	-190,536,775	'	-190,536,775	'
Issuance of restricted common stock under stock option plan	5,234,480	5,234,480	'	'
Stock option expense	9,678,724	9,678,724	'	'
Other comprehensive income	-3,687,809	'	'	-3,687,809
Net income	106,607,932	'	106,607,932	'
Balances at Mar. 31, 2014	307,355,321	118,365,503	193,095,944	-4,106,126
Increase (Decrease) in Shareholders' Equity [Roll Forward]	'	'	'	'
Proceeds from exercise of stock options, including tax benefits	129,243	129,243	'	'
Common stock repurchases	-49,902,371	'	-49,902,371	'
Issuance of restricted common stock under stock option plan	1,672,572	1,672,572	'	'
Stock option expense	1,892,821	1,892,821	'	'
Other comprehensive income	592,105	'	'	592,105
Net income	22,555,335	'	22,555,335	'
Balances at Jun. 30, 2014	$284,295,026	$122,060,139	$165,748,908	($3,514,021)

CONSOLIDATED_STATEMENTS_OF_SHA1

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) (USD $)	3 Months Ended	12 Months Ended
	Jun. 30, 2014	Mar. 31, 2014
Increase (Decrease) in Shareholders' Equity [Roll Forward]	'	'
Proceeds from exercise of stock options (in shares)	3,470	265,365
Proceeds from exercise of stock options, tax benefits	$51,869	$2,867,621
Common stock repurchases (in shares)	635,999	2,091,699

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	Jun. 30, 2014	Jun. 30, 2013
Cash flow from operating activities:	'	'
Net income	$22,555,335	$23,111,701
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Amortization of intangible assets	201,758	311,502
Amortization of loan costs and discounts	97,689	123,125
Provision for loan losses	30,893,266	28,703,193
Depreciation	1,623,242	1,598,027
Deferred income tax benefit	-931,699	-1,213,790
Compensation related to stock option and restricted stock plans	3,565,393	4,213,230
Change in accounts:	'	'
Other assets, net	-493,041	737,003
Income taxes payable	10,489,634	1,054,731
Accounts payable and accrued expenses	-1,210,718	-3,183,373
Net cash provided by operating activities	66,790,859	55,455,349
Cash flows from investing activities:	'	'
Increase in loans receivable, net	-60,412,755	-65,241,490
Net assets acquired from office acquisitions, primarily loans	-337,427	-638,127
Purchases of property and equipment	-2,399,788	-1,501,762
Increase in intangible assets from acquisitions	-62,868	-253,200
Net cash used in investing activities	-63,212,838	-67,634,579
Cash flow from financing activities:	'	'
Borrowings from senior note payable	92,300,000	104,350,000
Payments on senior note payable	-49,700,000	-55,650,000
(Payments on)/proceeds from junior subordinated note payable	0	0
Proceeds from exercise of stock options	77,374	1,026,671
Repurchase of common stock	-49,902,371	-37,734,861
Excess tax benefits from exercise of stock options	51,869	177,737
Net cash provided by financing activities	-7,173,128	12,169,547
Increase in cash and cash equivalents	-3,595,107	-9,683
Effects of foreign currency fluctuations on cash	70,175	-216,272
Cash and cash equivalents at beginning of period	19,569,683	11,625,365
Cash and cash equivalents at end of period	$16,044,751	$11,399,410

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
BASIS OF PRESENTATION	'
	BASIS OF PRESENTATION

	The consolidated financial statements of the Company at June 30, 2014, and for the three months 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 June 30, 2014, and the results of operations and cash flows for the periods ended June 30, 2014 and 2013, 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.

	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, 2014, included in the Company’s 2014 Annual Report to Shareholders.

SUMMARY_OF_SIGNIFICANT_POLICIE

SUMMARY OF SIGNIFICANT POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT POLICIES	Jun. 30, 2014
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT POLICIES	'
	SUMMARY OF SIGNIFICANT POLICIES

	Accounting Standards to be Adopted

	Revenue from Contracts with Customers.

	In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2014-09 which supersedes the revenue recognition requirements Topic 605 (Revenue Recognition), and most industry-specific guidance. ASU No. 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU No. 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The guidance allows for either a "full retrospective" adoption or a "modified retrospective" adoption, however early adoption is not permitted. We are currently evaluating the impact the adoption of this guidance will have on our consolidated financial statements.

	We reviewed all other newly issued accounting pronouncements and concluded that they are either not applicable to our business or are not expected to have a material effect on the consolidated financial statements as a result of future adoption.

FAIR_VALUE

FAIR VALUE	3 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
FAIR VALUE	'
	FAIR VALUE

	Fair Value Disclosures

	The Company may carry certain financial instruments and 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 June 30, 2014 and March 31, 2014, the Company had no significant 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):



		June 30,		March 31,
		2014		2014
	Book value and estimated fair value:
	Senior notes payable	$	548,100	505,500


	The carrying value of the senior notes payable approximated the fair value, as the senior notes payable are at a variable interest rate.

	Other

	There were no significant assets or liabilities measured at fair value on a non-recurring basis as of June 30, 2014 or March 31, 2014.

ALLOWANCE_FOR_LOAN_LOSSES

ALLOWANCE FOR LOAN LOSSES	3 Months Ended
	Jun. 30, 2014
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 June 30,
		2014				2013
	Balance at beginning of period	$	63,254,940			59,980,842

	Provision for loan losses	30,893,266				28,703,193

	Loan losses	(29,820,547		)		(30,114,074	)
	Recoveries	3,512,797				3,312,182

	Translation adjustment	44,771				(251,176	)

	Balance at end of period	$	67,885,227			61,630,967


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



	June 30, 2014	Loans individually				Loans collectively			Total
		evaluated for				evaluated for
		impairment				impairment
		(impaired loans)
	Bankruptcy, gross loans	$	5,995,703			—			5,995,703

	91 days or more delinquent, excluding bankruptcy	32,657,958				—			32,657,958

	Loans less than 91 days delinquent and not in bankruptcy	—				1,125,714,247			1,125,714,247

	Gross loan balance	38,653,661				1,125,714,247			1,164,367,908

	Unearned interest and fees	(8,862,435		)		(306,643,933	)		(315,506,368	)
	Net loans	29,791,226				819,070,314			848,861,540

	Allowance for loan losses	(29,791,226		)		(38,094,001	)		(67,885,227	)
	Loans, net of allowance for loan losses	$	—			780,976,313			780,976,313




	March 31, 2014	Loans individually				Loans collectively			Total
		evaluated for				evaluated for
		impairment				impairment
		(impaired loans)
	Bankruptcy, gross loans	$	5,878,825			—			5,878,825

	91 days or more delinquent, excluding bankruptcy	28,186,637				—			28,186,637

	Loans less than 91 days delinquent and not in bankruptcy	—				1,078,241,873			1,078,241,873

	Gross loan balance	34,065,462				1,078,241,873			1,112,307,335

	Unearned interest and fees	(7,269,147		)		(291,118,373	)		(298,387,520	)
	Net loans	26,796,315				787,123,500			813,919,815

	Allowance for loan losses	(26,796,315		)		(36,458,625	)		(63,254,940	)
	Loans, net of allowance for loan losses	$	—			750,664,875			750,664,875



June 30, 2013	Loans individually				Loans collectively			Total
	evaluated for				evaluated for
	impairment				impairment
	(impaired loans)
Bankruptcy, gross loans	$	6,072,085			—			6,072,085

91 days or more delinquent, excluding bankruptcy	22,162,742				—			22,162,742

Loans less than 91 days delinquent and not in bankruptcy	—				1,097,026,529			1,097,026,529

Gross loan balance	28,234,827				1,097,026,529			1,125,261,356

Unearned interest and fees	(5,531,920		)		(301,236,964	)		(306,768,884	)
Net loans	22,702,907				795,789,565			818,492,472

Allowance for loan losses	(22,702,907		)		(38,928,060	)		(61,630,967	)
Loans, net of allowance for loan losses	$	—			756,861,505			756,861,505


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


	June 30,				March 31,			June 30,
	2014				2014			2013
Credit risk
Consumer loans- non-bankrupt accounts	$	1,158,372,205			1,106,428,510			1,119,189,271

Consumer loans- bankrupt accounts	5,995,703				5,878,825			6,072,085

Total gross loans	$	1,164,367,908			1,112,307,335			1,125,261,356


Consumer credit exposure

Credit risk profile based on payment activity, performing	$	1,099,149,267			1,053,037,073			1,078,290,594

Contractual non-performing, 61 or more days delinquent	65,218,641				59,270,262			46,970,762

Total gross loans	$	1,164,367,908			1,112,307,335			1,125,261,356


Delinquent refinance	$	23,857,699			22,907,734			21,072,057


Credit risk profile based on customer type

New borrower	$	152,914,153			151,025,603			130,749,464

Former borrower	122,171,469				102,514,264			107,984,804

Refinance	865,424,587				835,859,734			865,455,031

Delinquent refinance	23,857,699				22,907,734			21,072,057

Total gross loans	$	1,164,367,908			1,112,307,335			1,125,261,356


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



	June 30,				March 31,			June 30,
	2014				2014			2013
Contractual basis:

30-60 days past due	$	42,501,987			37,713,414			47,703,945

61-90 days past due	32,171,291				30,607,515			24,451,964

91 days or more past due	33,047,350				28,662,747			22,518,798

Total	$	107,720,628			96,983,676			94,674,707


Percentage of period-end gross loans receivable	9.3		%		8.7	%		8.4	%

AVERAGE_SHARE_INFORMATION

AVERAGE SHARE INFORMATION	3 Months Ended
	Jun. 30, 2014
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 June 30,
		2014	2013
	Basic:
	Weighted average common shares outstanding (denominator)	10,001,196	12,002,061


	Diluted:

	Weighted average common shares outstanding	10,001,196	12,002,061

	Dilutive potential common shares stock options	288,559	340,629

	Weighted average diluted shares outstanding (denominator)	10,289,755	12,342,690


	Options to purchase 575,240 and 556,692 shares of common stock at various prices were outstanding during the three months ended June 30, 2014 and 2013 respectively, but were not included in the computation of diluted EPS because the option exercise price was antidilutive.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
STOCK-BASED COMPENSATION	Jun. 30, 2014
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, a total of 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 June 30, 2014, there were a total of 374,893 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 grant date fair values. The impact of forfeitures that may occur prior to vesting is also estimated and considered in the amount recognized. The Company has applied the Black-Scholes valuation model in determining the grant date 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 quarters ended June 30, 2014 or June 30, 2013.

	Option activity for the three months ended June 30, 2014 was as follows:


		Shares			Weighted Average Exercise			Weighted Average	Aggregate Intrinsic Value
					Price			Remaining
								Contractual Term
	Options outstanding, beginning of period	1,096,000			$	63.81
	Options outstanding, beginning of period	1,096,000			$	63.81
	Granted during period	—			—
	Granted during period	—			—
	Exercised during period	(3,470	)		22.3
	Exercised during period	(3,470	)		22.3
	Forfeited during period	(13,100	)		66.5
	Forfeited during period	(13,100	)		66.5
	Expired during period	(500	)		67.41
	Expired during period	(500	)		67.41
	Options outstanding, end of period	1,078,930			$	63.91		7.37	$	15,759,061
	Options outstanding, end of period	1,078,930			$	63.91		7.37	$	15,759,061
	Options exercisable, end of period	233,020			$	44.47		4.76	$	7,337,260
	Options exercisable, end of period	233,020			$	44.47		4.76	$	7,337,260

	The aggregate intrinsic value reflected in the table above represents the total pre-tax intrinsic value (the difference between the closing stock price on June 30, 2014 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 June 30, 2014. This amount will change as the stock’s market price changes. The total intrinsic value of options exercised during the periods ended June 30, 2014 and 2013 was as follows:


		June 30,				June 30,
		2014				2013
	Three months ended	$	197,660			$	1,043,402
	Three months ended	$	197,660			$	1,043,402

	As of June 30, 2014, total unrecognized stock-based compensation expense related to non-vested stock options amounted to approximately $18.5 million, which is expected to be recognized over a weighted-average period of approximately 3.4 years.

	Restricted Stock

	During Fiscal 2014 and 2013 the Company granted 8,590 and 70,800 Group A performance based restricted stock awards to certain officers. As of June 30, 2014, 60,390 remain unforfeited. Group A awards 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%

	During Fiscal 2014 and 2013 the Company granted 56,660 and 443,700 Group B performance based restricted stock awards to certain officers. As of June 30, 2014, 373,360 remain unforfeited. Group B awards will vest as follows, if the Company achieves the following performance goals during any successive trailing four quarters during the measurement period ending on 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 3,249 vested 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 vested on November 7, 2013 and one-third of the restricted stock will vest on November 7, 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 remaining unforfeited 5,223 shares vested 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%

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 $1.8 million and $2.2 million of compensation expense for the three months ended June 30, 2014 and June 30, 2013, respectively, which is included as a component of general and administrative expenses in the Company’s Consolidated Statements of Operations.

As of June 30, 2014, there was approximately $16.2 million of unrecognized compensation cost related to unvested restricted stock awards granted, which is expected to be recognized over the next 2.4 years. In addition there was approximately $6.7 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 $6.7 million could be expensed in future periods.

A summary of the status of the Company’s restricted stock as of June 30, 2014, and changes during the three months ended June 30, 2014, are presented below:


	Shares			Weighted Average Fair Value at Grant Date
Outstanding at March 31, 2014	461,959			$	76.49
Outstanding at March 31, 2014	461,959			$	76.49
Granted during the period	—			—
Granted during the period	—			—
Vested during the period	(5,223	)		67.7
Vested during the period	(5,223	)		67.7
Forfeited during the period	(15,594	)		73.84
Forfeited during the period	(15,594	)		73.84
Outstanding at June 30, 2014	441,142			$	76.69
Outstanding at June 30, 2014	441,142			$	76.69

Total share-based compensation included as a component of net income during the three months ended June 30, 2014 and 2013 was as follows:



	Three months ended June 30,
	2014				2013
Share-based compensation related to equity classified awards:
Share-based compensation related to stock options	$	1,892,821			2,495,913
Share-based compensation related to stock options	$	1,892,821			2,495,913
Share-based compensation related to restricted stock units	1,802,816				2,188,987
Share-based compensation related to restricted stock units	1,802,816				2,188,987
Total share-based compensation related to equity classified awards	$	3,695,637			4,684,900
	$	3,695,637			4,684,900

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Jun. 30, 2014
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 three months ended June 30, 2014 and 2013:



		2014		2013
	Number of business combinations	—		1

	Number of asset purchases	1		4

	Total acquisitions	1		5


	Purchase Price	$	339,963	891,328

	Tangible assets:

	Net loans	277,095		636,627

	Furniture, fixtures & equipment	—		1,500

		277,095		638,127


	Excess of purchase prices over carrying value of net tangible assets	$	62,868	253,201


	Customer lists	57,868		157,363

	Non-compete agreements	5,000		25,000

	Goodwill	—		70,838


	Total intangible assets	$	62,868	253,201


	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 three months ended June 30, 2014, no acquisitions were 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 was one acquisition recorded as an asset acquisition during the three months ended June 30, 2014.

	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 priced 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	3 Months Ended
DEBT	Jun. 30, 2014
Debt Disclosure [Abstract]	'
DEBT	'
	DEBT

	The Company's notes payable consist of a $680.0 million senior notes payable revolving credit facility with $548.1 million outstanding at June 30, 2014. 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 June 30, 2014 and March 31, 2014, the Company’s effective interest rate, including the commitment fee, was 4.3% and 4.4%, respectively, and the unused amount available under the revolver at June 30, 2014 was $71.9 million. The Company also had $60.0 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	3 Months Ended
INCOME TAXES	Jun. 30, 2014
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 June 30, 2014, the Company has determined that approximately $1.6 million of cumulative undistributed net earnings of SWAC and approximately $15.4 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 June 30, 2014 and March 31, 2014, the Company had $6.9 million and $6.4 million, respectively, of total gross unrecognized tax benefits including interest. Approximately $5.0 million and $4.6 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 June 30, 2014, approximately $3.7 million of gross unrecognized tax benefits are expected to be resolved during the next twelve 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 June 30, 2014, the Company had $729,000 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 income taxation by 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 2010, although carry forward attributes that were generated prior to 2010 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	3 Months Ended
LITIGATION	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
LITIGATION	'
	LITIGATION

	See Part 1, Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations-Regulatory Matters-CFPB Investigation,” for information regarding the Company’s previously disclosed receipt of a Civil Investigative Demand (“CID”) from the Consumer Financial Protection Bureau (“CFPB”) on March 12, 2014 and the Company’s response thereto.

	As previously disclosed, on April 22, 2014, a shareholder filed a putative class action complaint, Edna Selan Epstein v. World Acceptance Corporation et al., in the United States District Court for the District of South Carolina (case number 6:14-cv-01606), against the Company and certain of its current and former officers on behalf of all persons who purchased or otherwise acquired the Company’s common stock between April 25, 2013 and March 12, 2014. The complaint alleges that the Company made false and misleading statements in various SEC reports and other public statements in violation of federal securities laws preceding the Company’s disclosure in a Form 8-K filed March 13, 2014 that it had received above-referenced CID from the CFPB. The complaint seeks class certification, unspecified monetary damages, costs and attorneys’ fees. The Company believes the complaint is without merit and intends to vigorously defend itself in the matter. On June 25, 2014, the Company filed a motion to dismiss the complaint and has stipulated to an extension of time for a response from Operating Engineers Construction Industry and Miscellaneous Pension Fund which has been appointed lead plaintiff in the case.

	In addition, from time to time the Company is involved in routine litigation matters relating to claims arising out of its operations in the normal course of business, including matters in which damages in various amounts are claimed.

	Estimating an amount or range of possible losses resulting from litigation, government actions and other legal proceedings is inherently difficult and requires an extensive degree of judgment, particularly where the matters involve indeterminate claims for monetary damages, may involve fines, penalties or damages that are discretionary in amount, involve a large number of claimants or significant discretion by regulatory authorities, represent a change in regulatory policy or interpretation, present novel legal theories, are in the early stages of the proceedings, are subject to appeal or could result in a change in business practices. In addition, because most legal proceedings are resolved over extended periods of time, potential losses are subject to change due to, among other things, new developments, changes in legal strategy, the outcome of intermediate procedural and substantive rulings and other parties’ settlement posture and their evaluation of the strength or weakness of their case against us. For these reasons, we are currently unable to predict the ultimate timing or outcome of, or reasonably estimate the possible losses or a range of possible losses resulting from, the matters described above. Based on information currently available, the Company does not believe that any reasonably possible losses arising from currently pending legal matters will be material to the Company’s results of operations or financial conditions. However, in light of the inherent uncertainties involved in such matters, an adverse outcome in one or more of these matters could materially and adversely affect the Company’s financial condition, results of operations or cash flows in any particular reporting period.

Subsequent_Events_Notes

Subsequent Events (Notes)	3 Months Ended
Subsequent Events (Notes)	Jun. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	SUBSEQUENT EVENTS

	On July 23, 2014, the Board of Directors authorized the Company to repurchase up to $25.0 million of the Company’s common stock. This repurchase authorization follows, and is in addition to, a similar repurchase authorization of $50.0 million announced on March 17, 2014. The timing and actual number of shares repurchased will depend on a variety of factors, including the stock price, corporate and regulatory requirements and other market and economic conditions. The Company’s stock repurchase program may be suspended or discontinued at any time.

FAIR_VALUE_Tables

FAIR VALUE (Tables)	3 Months Ended
	Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	'
	The book value and estimated fair value of our long-term debt was as follows (in thousands):



		June 30,		March 31,
		2014		2014
	Book value and estimated fair value:
	Senior notes payable	$	548,100	505,500

ALLOWANCE_FOR_LOAN_LOSSES_Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	3 Months Ended
	Jun. 30, 2014
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 June 30,
		2014			2013
	Balance at beginning of period	$	63,254,940		59,980,842

	Provision for loan losses	30,893,266			28,703,193

	Loan losses	(29,820,547		)	(30,114,074	)
	Recoveries	3,512,797			3,312,182

	Translation adjustment	44,771			(251,176	)

	Balance at end of period	$	67,885,227		61,630,967

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:



	June 30, 2014	Loans individually			Loans collectively		Total
		evaluated for			evaluated for
		impairment			impairment
		(impaired loans)
	Bankruptcy, gross loans	$	5,995,703		—		5,995,703

	91 days or more delinquent, excluding bankruptcy	32,657,958			—		32,657,958

	Loans less than 91 days delinquent and not in bankruptcy	—			1,125,714,247		1,125,714,247

	Gross loan balance	38,653,661			1,125,714,247		1,164,367,908

	Unearned interest and fees	(8,862,435		)	(306,643,933	)	(315,506,368	)
	Net loans	29,791,226			819,070,314		848,861,540

	Allowance for loan losses	(29,791,226		)	(38,094,001	)	(67,885,227	)
	Loans, net of allowance for loan losses	$	—		780,976,313		780,976,313




	March 31, 2014	Loans individually			Loans collectively		Total
		evaluated for			evaluated for
		impairment			impairment
		(impaired loans)
	Bankruptcy, gross loans	$	5,878,825		—		5,878,825

	91 days or more delinquent, excluding bankruptcy	28,186,637			—		28,186,637

	Loans less than 91 days delinquent and not in bankruptcy	—			1,078,241,873		1,078,241,873

	Gross loan balance	34,065,462			1,078,241,873		1,112,307,335

	Unearned interest and fees	(7,269,147		)	(291,118,373	)	(298,387,520	)
	Net loans	26,796,315			787,123,500		813,919,815

	Allowance for loan losses	(26,796,315		)	(36,458,625	)	(63,254,940	)
	Loans, net of allowance for loan losses	$	—		750,664,875		750,664,875



	June 30, 2013	Loans individually			Loans collectively		Total
		evaluated for			evaluated for
		impairment			impairment
		(impaired loans)
	Bankruptcy, gross loans	$	6,072,085		—		6,072,085

	91 days or more delinquent, excluding bankruptcy	22,162,742			—		22,162,742

	Loans less than 91 days delinquent and not in bankruptcy	—			1,097,026,529		1,097,026,529

	Gross loan balance	28,234,827			1,097,026,529		1,125,261,356

	Unearned interest and fees	(5,531,920		)	(301,236,964	)	(306,768,884	)
	Net loans	22,702,907			795,789,565		818,492,472

	Allowance for loan losses	(22,702,907		)	(38,928,060	)	(61,630,967	)
	Loans, net of allowance for loan losses	$	—		756,861,505		756,861,505

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


		June 30,			March 31,		June 30,
		2014			2014		2013
	Credit risk
	Consumer loans- non-bankrupt accounts	$	1,158,372,205		1,106,428,510		1,119,189,271

	Consumer loans- bankrupt accounts	5,995,703			5,878,825		6,072,085

	Total gross loans	$	1,164,367,908		1,112,307,335		1,125,261,356


	Consumer credit exposure

	Credit risk profile based on payment activity, performing	$	1,099,149,267		1,053,037,073		1,078,290,594

	Contractual non-performing, 61 or more days delinquent	65,218,641			59,270,262		46,970,762

	Total gross loans	$	1,164,367,908		1,112,307,335		1,125,261,356


	Delinquent refinance	$	23,857,699		22,907,734		21,072,057


	Credit risk profile based on customer type

	New borrower	$	152,914,153		151,025,603		130,749,464

	Former borrower	122,171,469			102,514,264		107,984,804

	Refinance	865,424,587			835,859,734		865,455,031

	Delinquent refinance	23,857,699			22,907,734		21,072,057

	Total gross loans	$	1,164,367,908		1,112,307,335		1,125,261,356

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



		June 30,			March 31,		June 30,
		2014			2014		2013
	Contractual basis:

	30-60 days past due	$	42,501,987		37,713,414		47,703,945

	61-90 days past due	32,171,291			30,607,515		24,451,964

	91 days or more past due	33,047,350			28,662,747		22,518,798

	Total	$	107,720,628		96,983,676		94,674,707


	Percentage of period-end gross loans receivable	9.3		%	8.7	%	8.4	%

AVERAGE_SHARE_INFORMATION_Tabl

AVERAGE SHARE INFORMATION (Tables)	3 Months Ended
	Jun. 30, 2014
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 June 30,
		2014	2013
	Basic:
	Weighted average common shares outstanding (denominator)	10,001,196	12,002,061


	Diluted:

	Weighted average common shares outstanding	10,001,196	12,002,061

	Dilutive potential common shares stock options	288,559	340,629

	Weighted average diluted shares outstanding (denominator)	10,289,755	12,342,690

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
STOCK-BASED COMPENSATION (Tables)	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Tabular disclosure of performance shares vesting based on EPS targets [Table Text Block]	'
	Group A awards 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%
	Group B awards will vest as follows, if the Company achieves the following performance goals during any successive trailing four quarters during the measurement period ending on 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%
Summary schedule of stock option activity	'
	ption activity for the three months ended June 30, 2014 was as follows:


		Shares		Weighted Average Exercise			Weighted Average	Aggregate Intrinsic Value
				Price			Remaining
							Contractual Term
	Options outstanding, beginning of period	1,096,000		$	63.81
	Options outstanding, beginning of period	1,096,000		$	63.81
	Granted during period	—		—
	Granted during period	—		—
	Exercised during period	(3,470	)	22.3
	Exercised during period	(3,470	)	22.3
	Forfeited during period	(13,100	)	66.5
	Forfeited during period	(13,100	)	66.5
	Expired during period	(500	)	67.41
	Expired during period	(500	)	67.41
	Options outstanding, end of period	1,078,930		$	63.91		7.37	$	15,759,061
	Options outstanding, end of period	1,078,930		$	63.91		7.37	$	15,759,061
	Options exercisable, end of period	233,020		$	44.47		4.76	$	7,337,260
	Options exercisable, end of period	233,020		$	44.47		4.76	$	7,337,260
Intrinsic value of options exercised	'
	The total intrinsic value of options exercised during the periods ended June 30, 2014 and 2013 was as follows:


		June 30,			June 30,
		2014			2013
	Three months ended	$	197,660		$	1,043,402
	Three months ended	$	197,660		$	1,043,402
Shares vesting based on the compounded annual EPS growth	'



	Vesting Percentage		Compounded Annual EPS Growth
	100%		15% or higher
	67%		12% - 14.99%
	33%		10% - 11.99%
	0%		Below 10%
Summary of the status and changes restricted stock	'
	A summary of the status of the Company’s restricted stock as of June 30, 2014, and changes during the three months ended June 30, 2014, are presented below:


		Shares		Weighted Average Fair Value at Grant Date
	Outstanding at March 31, 2014	461,959		$	76.49
	Outstanding at March 31, 2014	461,959		$	76.49
	Granted during the period	—		—
	Granted during the period	—		—
	Vested during the period	(5,223	)	67.7
	Vested during the period	(5,223	)	67.7
	Forfeited during the period	(15,594	)	73.84
	Forfeited during the period	(15,594	)	73.84
	Outstanding at June 30, 2014	441,142		$	76.69
	Outstanding at June 30, 2014	441,142		$	76.69

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 ended June 30, 2014 and 2013 was as follows:



		Three months ended June 30,
		2014			2013
	Share-based compensation related to equity classified awards:
	Share-based compensation related to stock options	$	1,892,821		2,495,913
	Share-based compensation related to stock options	$	1,892,821		2,495,913
	Share-based compensation related to restricted stock units	1,802,816			2,188,987
	Share-based compensation related to restricted stock units	1,802,816			2,188,987
	Total share-based compensation related to equity classified awards	$	3,695,637		4,684,900
		$	3,695,637		4,684,900

ACQUISITIONS_Tables

ACQUISITIONS (Tables)	3 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
Acquisition activity	'
	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 three months ended June 30, 2014 and 2013:



		2014		2013
	Number of business combinations	—		1

	Number of asset purchases	1		4

	Total acquisitions	1		5


	Purchase Price	$	339,963	891,328

	Tangible assets:

	Net loans	277,095		636,627

	Furniture, fixtures & equipment	—		1,500

		277,095		638,127


	Excess of purchase prices over carrying value of net tangible assets	$	62,868	253,201


	Customer lists	57,868		157,363

	Non-compete agreements	5,000		25,000

	Goodwill	—		70,838


	Total intangible assets	$	62,868	253,201


	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 three months ended June 30, 2014, no acquisitions were 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 was one acquisition recorded as an asset acquisition during the three months ended June 30, 2014.

	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 priced 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.
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	'
	The following table sets forth the acquisition activity of the Company for the three months ended June 30, 2014 and 2013:



		2014		2013
	Number of business combinations	—		1

	Number of asset purchases	1		4

	Total acquisitions	1		5


	Purchase Price	$	339,963	891,328

	Tangible assets:

	Net loans	277,095		636,627

	Furniture, fixtures & equipment	—		1,500

		277,095		638,127


	Excess of purchase prices over carrying value of net tangible assets	$	62,868	253,201


	Customer lists	57,868		157,363

	Non-compete agreements	5,000		25,000

	Goodwill	—		70,838


	Total intangible assets	$	62,868	253,201

FAIR_VALUE_Details

FAIR VALUE (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Senior notes payable	$548,100,000	$505,500,000
Reported Value Measurement [Member] \| Senior notes payable [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Senior notes payable	$548,100,000	$505,500,000

ALLOWANCE_FOR_LOAN_LOSSES_Deta

ALLOWANCE FOR LOAN LOSSES (Details) (USD $)	3 Months Ended
ALLOWANCE FOR LOAN LOSSES (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2014
Allowance for Loan Losses [Roll Forward]	'	'	'
Balance at beginning of period	$63,254,940	$59,980,842	'
Provision for loan losses	30,893,266	28,703,193	'
Loan losses	-29,820,547	-30,114,074	'
Recoveries	3,512,797	3,312,182	'
Translation adjustment	44,771	-251,176	'
Balance at end of period	67,885,227	61,630,967	'
Summary of loans individually and collectively evaluated for impairment [Abstract]	'	'	'
Bankruptcy, gross loans	5,995,703	6,072,085	5,878,825
91 days or more delinquent, excluding bankruptcy	32,657,958	22,162,742	28,186,637
Loans less than 91 days delinquent and not in bankruptcy	1,125,714,247	1,097,026,529	1,078,241,873
Gross loan balance	1,164,367,908	1,125,261,356	1,112,307,335
Unearned interest and fees	'	-306,768,884	-298,387,520
Net loans	848,861,540	818,492,472	813,919,815
Allowance for loan losses	-67,885,227	-61,630,967	'
Loans receivable, net	780,976,313	756,861,505	750,664,875
Loans individually evaluated for impairment (impaired loans) [Member]	'	'	'
Allowance for Loan Losses [Roll Forward]	'	'	'
Balance at beginning of period	'	'	26,796,315
Balance at end of period	29,791,226	22,702,907	26,796,315
Summary of loans individually and collectively evaluated for impairment [Abstract]	'	'	'
Bankruptcy, gross loans	5,995,703	6,072,085	5,878,825
91 days or more delinquent, excluding bankruptcy	32,657,958	22,162,742	28,186,637
Loans less than 91 days delinquent and not in bankruptcy	0	0	0
Gross loan balance	38,653,661	28,234,827	34,065,462
Unearned interest and fees	-8,862,435	-5,531,920	-7,269,147
Net loans	29,791,226	22,702,907	26,796,315
Allowance for loan losses	-29,791,226	-22,702,907	-26,796,315
Loans receivable, net	0	0	0
Loans collectively evaluated for impairment [Member]	'	'	'
Allowance for Loan Losses [Roll Forward]	'	'	'
Balance at beginning of period	'	'	36,458,625
Balance at end of period	38,094,001	38,928,060	36,458,625
Summary of loans individually and collectively evaluated for impairment [Abstract]	'	'	'
Bankruptcy, gross loans	0	0	0
91 days or more delinquent, excluding bankruptcy	0	0	0
Loans less than 91 days delinquent and not in bankruptcy	1,125,714,247	1,097,026,529	1,078,241,873
Gross loan balance	1,125,714,247	1,097,026,529	1,078,241,873
Unearned interest and fees	-306,643,933	-301,236,964	-291,118,373
Net loans	819,070,314	795,789,565	787,123,500
Allowance for loan losses	-38,094,001	-38,928,060	-36,458,625
Loans receivable, net	$780,976,313	$756,861,505	$750,664,875

ALLOWANCE_FOR_LOAN_LOSSES_Asse

ALLOWANCE FOR LOAN LOSSES (Assessment of Credit Quality) (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2013
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	$1,164,367,908	$1,112,307,335	$1,125,261,356
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	65,218,641	59,270,262	46,970,762
New borrower [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	152,914,153	151,025,603	130,749,464
Former borrower [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	122,171,469	102,514,264	107,984,804
Refinance [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	865,424,587	835,859,734	865,455,031
Delinquent refinance [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	23,857,699	22,907,734	21,072,057
Consumer loans- non-bankrupt accounts [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	1,158,372,205	1,106,428,510	1,119,189,271
Consumer loans- bankrupt accounts [Member]	'	'	'
Financing Receivable, Recorded Investment [Line Items]	'	'	'
Gross loan balance	$5,995,703	$5,878,825	$6,072,085

ALLOWANCE_FOR_LOAN_LOSSES_Summ

ALLOWANCE FOR LOAN LOSSES (Summary of Past Due Receivables) (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2013
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'	'
Loans and Leases Receivable, Gross, Carrying Amount, Consumer	$1,164,367,908	$1,112,307,335	$1,125,261,356
Contractual basis [Member]	'	'	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'	'
30-60 days past due	42,501,987	37,713,414	47,703,945
61-90 days past due	32,171,291	30,607,515	24,451,964
91 days or more past due	33,047,350	28,662,747	22,518,798
Financing Receivable, Recorded Investment, Past Due	107,720,628	96,983,676	94,674,707
Percentage of period end gross loans receivable	9.30%	8.70%	8.40%
Performing Financing Receivable [Member]	'	'	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'	'	'
Loans and Leases Receivable, Gross, Carrying Amount, Consumer	$1,099,149,267	$1,053,037,073	$1,078,290,594

AVERAGE_SHARE_INFORMATION_Deta

AVERAGE SHARE INFORMATION (Details)	3 Months Ended
AVERAGE SHARE INFORMATION (Details)	Jun. 30, 2014	Jun. 30, 2013
Basic:	'	'
Weighted average common shares outstanding (in shares)	10,001,196	12,002,061
Diluted:	'	'
Weighted average common shares outstanding (in shares)	10,001,196	12,002,061
Dilutive potential common shares stock options (in shares)	288,559	340,629
Weighted average diluted shares outstanding (in shares)	10,289,755	12,342,690
Antidilutive options excluded from computation of diluted earnings per share (in shares)	575,240	556,692

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)

3 Months Ended

12 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

0 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Mar. 31, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Nov. 30, 2011

Nov. 30, 2010

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Nov. 07, 2011

Dec. 31, 2013

Mar. 31, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Group B Performance Award [Member]

Stock Options Plans [Member]

Group A Performance Award [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]

$10.29 EPS [Member]

$9.76 EPS [Member]

$9.26 EPS [Member]

Below $9.26 EPS [Member]

$13.00 [Member]

$14.50 [Member]

$16.00 [Member]

$18.00 [Member]

EPS Target [Member]

Below $9.26 EPS [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Issued During Period, Shares, Share-based Compensation, Gross

56,660

443,700

8,590

70,800

Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures

373,360

60,390

Stock Option Plans [Abstract]

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

4,100,000

Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period

'10 years

Vesting period

'5 years

Number of shares available for grant (in shares)

374,893

Weighted-average fair value at the grant date

$44.41

$36.04

Options Activity [Roll Forward]

Options outstanding, beginning of year (in shares)

1,096,000

Granted (in shares)

Exercised (in shares)

-3,470

-265,365

-3,470

Forfeited (in shares)

-13,100

Expired (in shares)

-500

Options outstanding, end of period (in shares)

1,078,930

Options exercisable, end of period (in shares)

233,020

Weighted Average Exercise Price [Roll Forward]

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

$63.81

Granted (in dollars per share)

Exercised (in dollars per share)

$22.30

Forfeited (in dollars per share)

$66.50

Expired (in dollars per share)

$67.41

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

$63.91

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

$44.47

Stock Option Activity Additional Disclosures [Abstract]

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

'7 years 4 months 13 days

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

'4 years 9 months 4 days

Aggregate intrinsic value, Options outstanding, end of period

$15,759,061

Aggregate intrinsic value, Options exercisable, end of period

7,337,260

Intrinsic value of options exercised

197,660

1,043,402

Compensation Cost Not yet Recognized [Abstract]

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

18,500,000

Weighted average period for recognition

'3 years 4 months 10 days

'2 years 4 months 10 days

Restricted Stock [Abstract]

Awards granted (in shares)

Grant date fair value (in dollars per share)

$67.70

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

16,200,000

Weighted average period for recognition

'3 years 4 months 10 days

'2 years 4 months 10 days

Unrecognized compensation cost related to unvested restricted stock awards granted

6,700,000

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

Outstanding at March 31, 2012 (in shares)

461,959

Awards granted (in shares)

24,200

15,077

11,139

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

-5,223

-3,249

-5,223

Outstanding at June 30, 2012 (in shares)

441,142

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

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

$76.49

Grant date fair value (in dollars per share)

$67.70

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

$67.70

Cancelled during the period (in dollars per share)

$73.84

Stock Issued During Period, Shares, Restricted Stock Award, Forfeited

-15,594

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

$76.69

Compensation related to stock option and restricted stock plans

$3,565,393

$4,213,230

$1,892,821

$2,495,913

$1,802,816

$2,188,987

$3,695,637

$4,684,900

ACQUISITIONS_Details

ACQUISITIONS (Details) (USD $)	3 Months Ended
	Jun. 30, 2014	Mar. 31, 2014
	asset_purchase	business_combination
	acquisition	asset_purchase
	business_combination	acquisition
Business Acquisition [Line Items]	'	'
Number of offices purchased	0	1
Merged into existing offices	1	4
Total acquisitions	1	5
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	339,963	891,328
Business Combination, Acquired Receivables, Fair Value	277,095	636,627
Furniture, fixtures & equipment	0	1,500
Total tangible assets	277,095	638,127
Intangible Assets, Net (Including Goodwill)	62,868	253,201
Finite-Lived Customer Lists, Gross	57,868	157,363
Finite-Lived Noncompete Agreements, Gross	5,000	25,000
Goodwill, Fair Value Disclosure	0	70,838

DEBT_Details

DEBT (Details) (Revolving Credit Facility [Member], USD $)	3 Months Ended
DEBT (Details) (Revolving Credit Facility [Member], USD $)	Jun. 30, 2014	Mar. 31, 2014
Revolving Credit Facility [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Maximum borrowing capacity	$680,000,000	'
Amount outstanding	548,100,000	'
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)	4.30%	4.40%
Unused amount available	71,900,000	'
Line Of Credit Facility Additional Remaining Borrowing Capacity	$60,000,000	'
Commitment fee percentage (in hundredths)	0.40%	'
Expiration date	19-Nov-15	'

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended
	Jun. 30, 2014	Mar. 31, 2014
	foreign_subsidiary	Mar. 31, 2014
Income Tax Contingency [Line Items]	'	'
Number of foreign subsidiaries required to be assessed	2	'
Total gross unrecognized tax benefits including interest	$6,900,000	$6,400,000
Unrecognized tax benefits that are permanent in nature and, if recognized, would affect the annual effective tax rate	5,000,000	4,600,000
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	3,700,000	'
Accrued gross interest	729,000	'
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	1,600,000	'
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	$15,400,000	'

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	0 Months Ended
In Millions, unless otherwise specified	Jul. 23, 2014	Mar. 17, 2014
Subsequent Events [Abstract]	'	'
Stock Repurchase Program, Authorized Amount	$25	$50