World Acceptance (WRLD) 10-Q 5 Feb 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2015	Feb. 03, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	WORLD ACCEPTANCE CORP
Entity Central Index Key	108,385
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		8,923,440
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2015

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Dec. 31, 2015	Mar. 31, 2015
ASSETS
Cash and cash equivalents	$ 20,942,400	$ 38,338,935
Gross loans receivable	1,219,209,366	1,110,145,082
Less:
Financing Receivable Individually Evaluated for Impairment Unearned Interest and Fees	337,504,008	297,402,404
Unearned interest, insurance and fees		(297,402,404)
Allowance for loan losses	(84,488,594)	(70,437,988)
Loans receivable, net	797,216,764	742,304,690
Property and equipment, net	23,313,434	25,906,507
Deferred income taxes	41,036,440	37,345,605
Other assets, net	15,307,988	12,749,771
Goodwill	6,121,458	6,121,458
Intangible assets, net	3,038,064	3,363,753
Total assets	906,976,548	866,130,719
Liabilities:
Senior notes payable	511,935,000	501,150,000
Income taxes payable	4,412,576	18,204,186
Accounts payable and accrued expenses	27,758,716	31,208,814
Total liabilities	$ 544,106,292	$ 550,563,000
Commitments and contingencies
Shareholders' equity:
Preferred stock, no par value	$ 0	$ 0
Common stock, no par value	0	0
Additional paid-in capital	140,058,712	141,864,764
Retained earnings	246,175,133	188,605,305
Accumulated other comprehensive loss	(23,363,589)	(14,902,350)
Total shareholders' equity	362,870,256	315,567,719
Total liabilities and shareholders' equity	$ 906,976,548	$ 866,130,719

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2015	Mar. 31, 2015
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)	8,863,790	8,969,948
Common stock, shares outstanding (in shares)	8,863,790	8,969,948

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Interest and fee income	$ 126,869,729	$ 132,464,456	$ 373,672,662	$ 394,601,544
Insurance commissions and other income	12,826,307	16,240,103	39,660,004	48,213,500
Total revenues	139,696,036	148,704,559	413,332,666	442,815,044
Expenses:
Provision for loan losses	35,440,402	38,292,746	99,225,547	105,346,744
General and administrative expenses:
Personnel	42,919,853	46,303,199	125,584,162	144,402,540
Occupancy and equipment	10,546,075	10,403,848	32,969,166	30,840,643
Advertising	7,961,227	7,747,085	14,540,768	14,337,598
Amortization of intangible assets	131,197	176,240	407,220	566,415
Other	10,021,695	11,008,812	29,083,034	30,493,944
Total general and administrative expenses	71,580,047	75,639,184	202,584,350	220,641,140
Interest expense	7,149,385	6,037,638	19,890,581	17,628,488
Total expenses	114,169,834	119,969,568	321,700,478	343,616,372
Income before income taxes	25,526,202	28,734,991	91,632,188	99,198,672
Income taxes	10,774,828	10,244,992	34,062,360	36,879,997
Net income	$ 14,751,374	$ 18,489,999	$ 57,569,828	$ 62,318,675
Net income per common share:
Basic (in dollars per share)	$ 1.70	$ 2.04	$ 6.68	$ 6.76
Diluted (in dollars per share)	$ 1.70	$ 2.01	$ 6.63	$ 6.64
Weighted average common shares outstanding:
Basic (in shares)	8,657,675	9,043,190	8,624,617	9,225,205
Diluted (in shares)	8,694,051	9,208,808	8,686,925	9,391,033

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Net income	$ 14,751,374	$ 18,489,999	$ 57,569,828	$ 62,318,675
Foreign currency translation adjustments	(1,075,499)	(6,303,807)	(8,461,239)	(8,543,318)
Comprehensive income	$ 13,675,875	$ 12,186,192	$ 49,108,589	$ 53,775,357

CONSOLIDATED STATEMENTS OF SHAR

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, 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	7,530,624	7,530,624
Common stock repurchases	(115,324,097)		(115,324,097)
Issuance of restricted common stock under stock option plan	7,834,825	7,834,825
Stock option expense	8,133,812	8,133,812
Other comprehensive income	(10,796,224)			(10,796,224)
Net income	110,833,458		110,833,458
Balances at Mar. 31, 2015	315,567,719	141,864,764	188,605,305	(14,902,350)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Proceeds from exercise of stock options, including tax benefits	2,859,649	2,859,649
Issuance of restricted common stock under stock option plan	(7,892,467)	(7,892,467)
Stock option expense	3,226,766	3,226,766
Other comprehensive income	(8,461,239)			(8,461,239)
Net income	57,569,828		57,569,828
Balances at Dec. 31, 2015	$ 362,870,256	$ 140,058,712	$ 246,175,133	$ (23,363,589)

CONSOLIDATED STATEMENTS OF SHA7

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Proceeds from exercise of stock options (in shares)	64,103	159,348
Proceeds from exercise of stock options, tax benefits	$ 87,966	$ 989,776
Common stock repurchases (in shares)	0	1,432,058
Adjustments Related to Tax Withholding for Share-based Compensation	$ 1,843,341	$ 303,818

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash flow from operating activities:
Net income	$ 57,569,828	$ 62,318,675
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets	407,220	566,415
Amortization of loan costs and discounts	1,709,126	304,303
Provision for loan losses	99,225,547	105,346,744
Depreciation	4,818,984	4,893,122
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	1,364,251	(25,617)
Deferred income tax benefit	(4,411,064)	(8,674,410)
Compensation related to stock option and restricted stock plans	(4,665,702)	12,203,949
Gain (Loss) on Sales of Consumer Loans	1,257,427	0
Change in accounts:
Other assets, net	2,356,005	(316,358)
Income taxes payable	(13,575,540)	(3,469,399)
Accounts payable and accrued expenses	(3,098,477)	(49,435)
Net cash provided by operating activities	140,442,751	173,097,989
Cash flows from investing activities:
Increase in loans receivable, net	(160,437,858)	(192,461,044)
Proceeds from Sale of Loans Receivable	(231,311)	0
Net assets acquired from office acquisitions, primarily loans	(92,097)	(1,352,037)
Increase in intangible assets from acquisitions	(81,531)	(372,865)
Purchases of property and equipment	(4,887,956)	(6,908,893)
Proceeds from Sale of Property, Plant, and Equipment	811,368	332,134
Net cash used in investing activities	(164,919,385)	(200,762,705)
Cash flow from financing activities:
Borrowings from senior notes payable	237,495,000	258,521,600
Payments on senior notes payable	(226,710,000)	(172,071,600)
Proceeds from exercise of stock options	2,771,683	2,540,081
Payments of Loan Costs	5,500,000	337,500
Repurchase of common stock	0	(63,406,397)
Excess tax benefits from exercise of stock options	87,966	601,875
Net cash provided by financing activities	8,144,649	25,848,059
Increase in cash and cash equivalents	(17,396,535)	(2,792,147)
Effects of foreign currency fluctuations on cash	(1,064,550)	(975,490)
Cash and cash equivalents at beginning of period	38,338,935	19,569,683
Cash and cash equivalents at end of period	20,942,400	16,777,536
Interest Paid	17,533,968	16,978,337
Income Taxes Paid	$ 51,964,927	$ 49,123,565

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The consolidated financial statements of the Company at December 31, 2015 , and for the three and nine 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 December 31, 2015 , and the results of operations and cash flows for the periods ended December 31, 2015 and 2014 , 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, 2015 , included in the Company’s 2015 Annual Report to Shareholders. Certain prior period amounts have been reclassified to conform to current presentation. Such reclassifications had no impact on previously reported net income or shareholders' equity.

SUMMARY OF SIGNIFICANT POLICIES

SUMMARY OF SIGNIFICANT POLICIES	9 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT POLICIES	SUMMARY OF SIGNIFICANT POLICIES Business The Company is a small-loan consumer finance company headquartered in Greenville, South Carolina, that offers short-term small loans, medium-term larger loans, related credit insurance products and ancillary products and services to individuals who have limited access to other sources of consumer credit. It also offers income tax return preparation services to its customer base and to others. The Company also markets computer software and related services to financial services companies through its ParaData Financial Systems (“ParaData”) subsidiary. Seasonality The Company's loan volume and corresponding loans receivable follow seasonal trends. The Company's highest loan demand occurs each year from October through December, its third fiscal quarter. Loan demand is generally the lowest and loan repayment is highest from January to March, its fourth fiscal quarter. Loan volume and average balances remain relatively level during the remainder of the year. This seasonal trend causes fluctuations in the Company's cash needs and quarterly operating performance through corresponding fluctuations in interest and fee income and insurance commissions earned. Consequently, operating results for the Company's third fiscal quarter are generally significantly lower than in other quarters and operating results for its fourth fiscal quarter are generally higher than in other quarters. 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. ASU No. 2014-09, as amended by ASU 2015-14, is effective for fiscal years, and interim periods, beginning after December 15, 2017, with early adoption permitted for annual reporting periods beginning after December 15, 2016. We are currently evaluating the impact the adoption of this guidance will have on our consolidated financial statements. Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In August 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2014-15, which requires management to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. ASU 2014-15 is effective for annual and interim periods beginning after December 15, 2016 with early adoption permitted. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements. Simplifying the Presentation of Debt Issuance Costs In April 2015, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2015-03, which requires an entity to present debt issuance costs on the balance sheet as a direct deduction from the related debt liability as opposed to an asset. Amortization of the costs will continue to be reported as interest expense. In August 2015, the FASB issued ASU No. 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting). ASU 2015-15 allows debt issuance costs related to line-of-credit agreements to be presented on the balance sheet as an asset. ASU 2015-03 and 2015-15 are effective for annual and interim periods beginning after December 15, 2015 with early adoption permitted. We are currently evaluating the impact the adoption of this guidance will have on our consolidated financial statements. Recognition, Measurement, Presentation, and Disclosure of Financial Instruments In January 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-01, which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 will be effective for the Company beginning in its first quarter of 2019 and 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	9 Months Ended
	Dec. 31, 2015
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. The Company’s financial instruments for the periods reported consist of the following: cash and cash equivalents, loans receivable, and senior notes payable. Fair value approximates carrying value for all of these instruments. Loans receivable are originated at prevailing market rates and have an average life of approximately eight months . Given the short-term nature of these loans, they are continually repriced at current market rates. The Company’s revolving credit facility has a variable rate based on a margin over LIBOR and reprices with any changes in LIBOR. The Company also considered its creditworthiness in its determination of fair value. The carrying amount and estimated fair values of the Company’s financial instruments summarized by level are as follows: December 31, 2015 March 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value ASSETS Level 1 inputs Cash and cash equivalents $ 20,942,400 $ 20,942,400 $ 38,338,935 $ 38,338,935 Level 3 inputs Loans receivable, net 797,216,764 797,216,764 742,304,690 742,304,690 LIABILITIES Level 3 inputs Senior notes payable 511,935,000 511,935,000 501,150,000 501,150,000 There were no significant assets or liabilities measured at fair value on a non-recurring basis as of December 31, 2015 or March 31, 2015 .

ALLOWANCE FOR LOAN LOSSES

ALLOWANCE FOR LOAN LOSSES	9 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
ALLOWANCE FOR LOAN LOSSES	ALLOWANCE FOR LOAN LOSSES Gross loans receivable at December 31, 2015 and 2014 consisted of the following: 2015 2014 Small loans $ 754,478,231 772,500,860 Large loans 462,085,177 478,293,824 Sales finance receivables 2,645,958 11,823,287 Total gross loans $ 1,219,209,366 1,262,617,971 The following is a summary of the changes in the allowance for loan losses for the periods indicated: Three months ended December 31, Nine months ended December 31, 2015 2014 2015 2014 Balance at beginning of period $ 80,317,713 81,817,578 $ 70,437,988 63,254,940 Provision for loan losses 35,440,402 38,292,746 99,225,547 105,346,744 Loan losses (35,294,084 ) (37,978,106 ) (97,622,277 ) (93,210,529 ) Recoveries (1) 4,131,664 3,589,412 13,397,456 10,616,382 Translation adjustment (107,101 ) (703,131 ) (950,120 ) (989,038 ) Balance at end of period $ 84,488,594 85,018,499 $ 84,488,594 85,018,499 (1) Recoveries during the three and nine months ended December 31, 2015 included $0.5 million and $2.7 million, respectively, resulting from the sale of previously charged-off loans. The following is a summary of loans individually and collectively evaluated for impairment for the period indicated: December 31, 2015 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,839,276 — 4,839,276 Gross loans contractually delinquent 56,777,734 — 56,777,734 Loans not contractually delinquent and not in bankruptcy — 1,157,592,356 1,157,592,356 Gross loan balance 61,617,010 1,157,592,356 1,219,209,366 Unearned interest, insurance and fees (15,173,459 ) (322,330,549 ) (337,504,008 ) Net loans 46,443,551 835,261,807 881,705,358 Allowance for loan losses (41,809,944 ) (42,678,650 ) (84,488,594 ) Loans, net of allowance for loan losses $ 4,633,607 792,583,157 797,216,764 March 31, 2015 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,821,691 — 4,821,691 Gross loans contractually delinquent 48,262,853 — 48,262,853 Loans not contractually delinquent and not in bankruptcy — 1,057,060,538 1,057,060,538 Gross loan balance 53,084,544 1,057,060,538 1,110,145,082 Unearned interest, insurance and fees (13,115,117 ) (284,287,287 ) (297,402,404 ) Net loans 39,969,427 772,773,251 812,742,678 Allowance for loan losses (35,352,658 ) (35,085,330 ) (70,437,988 ) Loans, net of allowance for loan losses $ 4,616,769 737,687,921 742,304,690 December 31, 2014 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 5,375,640 — 5,375,640 Gross loans contractually delinquent 54,521,862 — 54,521,862 Loans not contractually delinquent and not in bankruptcy — 1,202,720,469 1,202,720,469 Gross loan balance 59,897,502 1,202,720,469 1,262,617,971 Unearned interest, insurance and fees (14,879,254 ) (330,113,392 ) (344,992,646 ) Net loans 45,018,248 872,607,077 917,625,325 Allowance for loan losses (39,871,072 ) (45,147,427 ) (85,018,499 ) Loans, net of allowance for loan losses $ 5,147,176 827,459,650 832,606,826 The average net balance of impaired loans was $42.0 million and $35.4 million , respectively, for the periods ended December 31, 2015 , and 2014 . It is not practical to compute the amount of interest earned on impaired loans. The following is an assessment of the credit quality for the period indicated: December 31, March 31, December 31, Credit risk Consumer loans- non-bankrupt accounts $ 1,213,286,140 1,104,179,016 1,256,348,256 Consumer loans- bankrupt accounts 5,923,226 5,966,066 6,269,715 Total gross loans $ 1,219,209,366 1,110,145,082 1,262,617,971 Consumer credit exposure Credit risk profile based on payment activity, performing $ 1,131,348,784 1,032,984,546 1,177,925,160 Contractual non-performing, 60 or more days delinquent (1) 87,860,582 77,160,536 84,692,811 Total gross loans $ 1,219,209,366 1,110,145,082 1,262,617,971 Credit risk profile based on customer type New borrower $ 173,506,380 146,376,318 189,297,996 Former borrower 137,261,707 110,149,558 131,854,445 Refinance 884,046,393 829,661,427 914,438,177 Delinquent refinance 24,394,886 23,957,779 27,027,353 Total gross loans $ 1,219,209,366 1,110,145,082 1,262,617,971 (1) Loans in non-accrual status The following is a summary of the past due receivables as of: December 31, March 31, December 31, Contractual basis: 30-59 days past due $ 44,805,260 43,663,540 44,649,718 60-89 days past due 29,428,608 26,027,649 28,227,745 90 days or more past due 58,431,974 51,132,887 56,465,066 Total $ 132,665,842 120,824,076 129,342,529 Percentage of period-end gross loans receivable 10.9 % 10.9 % 10.2 %

AVERAGE SHARE INFORMATION

AVERAGE SHARE INFORMATION	9 Months Ended
	Dec. 31, 2015
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 December 31, Nine months ended December 31, 2015 2014 2015 2014 Basic: Weighted average common shares outstanding (denominator) 8,657,675 9,043,190 8,624,617 9,225,205 Diluted: Weighted average common shares outstanding 8,657,675 9,043,190 8,624,617 9,225,205 Dilutive potential common shares stock options 36,376 165,618 62,308 165,828 Weighted average diluted shares outstanding (denominator) 8,694,051 9,208,808 8,686,925 9,391,033 Options to purchase 848,245 and 558,620 shares of common stock at various prices were outstanding during the three months ended December 31, 2015 and 2014 respectively, but were not included in the computation of diluted EPS because the option exercise price was anti-dilutive. Options to purchase 842,471 and 595,724 shares of common stock at various prices were outstanding during the nine months ended December 31, 2015 and 2014 respectively, but were not included in the computation of diluted EPS because the option exercise price was anti-dilutive.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2015
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 December 31, 2015 , there were a total of 298,553 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. The weighted-average fair value at the grant date for options issued during the three months ended December 31, 2015 was $10.28 , and the weighted-average fair value at the grant date for options issued during the three months ended December 31, 2014 was $34.38 . The weighted-average fair value at the grant date for options issued during the nine months ended December 31, 2015 and 2014 was $10.82 and $34.53 , respectively. Fair value was estimated at grant date using the weighted-average assumptions listed below: Three months ended December 31, Nine months ended December 31, 2015 2014 2015 2014 Dividend Yield —% —% —% —% Expected Volatility 41.51% 44.53% 41.41% 44.67% Average risk-free rate 1.37% 1.77% 1.38% 1.77% Expected Life 5.0 years 6.1 years 5.0 years 6.1 years The expected stock price volatility is based on the historical volatility of the Company's stock for a period approximating the expected life. The expected life represents the period of time that options are expected to be outstanding after the grant date. The risk-free rate reflects the interest rate at grant date on zero coupon U.S. governmental bonds having a remaining life similar to the expected option term. Option activity for the nine months ended December 31, 2015 was as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Options outstanding, beginning of period 1,083,767 $ 69.15 Granted during period 112,400 28.45 Exercised during period (64,103 ) 43.24 Forfeited during period (119,677 ) 72.92 Expired during period (9,958 ) 61.43 Options outstanding, end of period 1,002,429 $ 65.87 7.04 $ 1,803,974 Options exercisable, end of period 488,081 $ 64.96 5.80 $ 702,630 The aggregate intrinsic value reflected in the table above represents the total pre-tax intrinsic value (the difference between the closing stock price on December 31, 2015 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 December 31, 2015 . This amount will change as the stock’s market price changes. The total intrinsic value of options exercised during the periods ended December 31, 2015 and 2014 was as follows: December 31, December 31, Three months ended $ 153,726 $ 2,534,147 Nine months ended $ 2,107,301 $ 2,973,627 As of December 31, 2015 , total unrecognized stock-based compensation expense related to non-vested stock options amounted to approximately $10.9 million , which is expected to be recognized over a weighted-average period of approximately 2.8 years. Restricted Stock During fiscal 2016, the company granted 67,550 shares of restricted stock (which are equity classified), to certain executive officers, with a grant date weighted average fair value of $27.84 . One-third of these awards will vest on each anniversary of the grant date over the next three years. During fiscal 2014 and 2013 the Company granted 8,590 and 70,800 Group A performance based restricted stock awards to certain officers. Group A awards vested 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 December 31, 2015 , 195,760 remain unforfeited and outstanding. 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% 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 compensation expense of $0.3 million and $2.0 million for the three months ended December 31, 2015 and 2014 , respectively, and recognized a net reduction of compensation expense of $6.0 million and compensation expense of $6.0 million for the nine months ended December 31, 2015 and 2014 , respectively, which is included as a component of general and administrative expenses in the Company’s Consolidated Statements of Operations. As of December 31, 2015 , there was approximately $1.6 million of unrecognized compensation cost related to unvested restricted stock awards, which is expected to be recognized over the next 2.8 years based on current estimates. In addition there was approximately $11.6 million of unrecognized compensation cost related to unvested restricted stock awards, which are not expected to vest based on current estimates. If these estimates change, the $11.6 million will be expensed, accordingly, in future periods. A summary of the status of the Company’s restricted stock as of December 31, 2015 , and changes during the nine months ended December 31, 2015 , are presented below: Shares Weighted Average Fair Value at Grant Date Outstanding at March 31, 2015 433,750 $ 76.84 Granted during the period 67,550 27.84 Vested during the period (91,140 ) 76.02 Forfeited during the period (149,250 ) 74.10 Outstanding at December 31, 2015 260,910 $ 66.01 Total share-based compensation included as a component of net income during the three and nine month periods ended December 31, 2015 and 2014 was as follows: Three months ended December 31, Nine months ended December 31, 2015 2014 2015 2014 Share-based compensation related to equity classified awards: Share-based compensation related to stock options $ 1,719,236 2,645,017 3,226,766 6,538,234 Share-based compensation related to restricted stock, net of adjustments and exclusive of cancellations 346,865 2,018,775 (6,049,127 ) 5,969,533 Total share-based compensation related to equity classified awards $ 2,066,101 4,663,792 (2,822,361 ) 12,507,767 The Company no longer believes that achieving the earnings per share target of $14.50 or greater per share is probable during the measurement period which ends on March 31, 2017, therefore the Company released approximately $6.0 million of compensation expense during the nine months ended December 31, 2015. The Company also released approximately $3.7 million of compensation expense for the nine months ended December 31, 2015 related to the resignation and retirement of certain executives.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Dec. 31, 2015
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 nine months ended December 31, 2015 and 2014 : 2015 2014 Number of business combinations — 2 Number of asset purchases 1 2 Total acquisitions 1 4 Purchase Price $ 173,628 1,724,901 Tangible assets: Net loans 92,097 1,348,036 Furniture, fixtures & equipment — 4,000 $ 92,097 1,352,036 Excess of purchase prices over carrying value of net tangible assets $ 81,531 372,865 Customer lists $ 76,531 198,534 Non-compete agreements $ 5,000 20,000 Goodwill $ — 154,331 When the acquisition results in a new branch, 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 branch 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. 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 nine months ended December 31, 2015 . 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. 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	9 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
DEBT	DEBT The Company's notes payable consist of a $600.0 million senior revolving credit facility with borrowings of $511.9 million outstanding on the borrowing facility and $1.5 million standby letters of credit related to workers compensation and surety bonds outstanding at December 31, 2015 . To the extent that the letters of credit are drawn upon, the disbursement will be funded by the credit facility. There are no amounts due related to the letters of credit as of December 31, 2015 and they expire on December 31, 2016. The Letters of Credit are automatically extended for one year on the expiration date. The base credit facility will reduce from $600.0 million to $500.0 million on March 31, 2016 and to $400.0 million on March 31, 2017. Subject to a borrowing base formula, the Company may borrow at the rate of LIBOR plus 4.0% with a minimum rate of 5.0% . For the nine months ended December 31, 2015 and fiscal year ended March 31, 2015 , the Company’s effective interest rate, including the commitment fee, was 5.4% and 4.3% , respectively, and the unused amount available under the revolver at December 31, 2015 was $86.6 million . The revolving credit facility has a commitment fee of 0.50% per annum on the unused portion of the commitment. Borrowings under the revolving credit facility mature on June 15, 2017 . Substantially all of the Company’s assets, excluding the assets of the Company's Mexican subsidiaries, are pledged as collateral for borrowings under the revolving credit agreement.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2015
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 December 31, 2015 , the Company has determined that approximately $1.4 million of cumulative undistributed net earnings of SWAC and approximately $20.5 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 December 31, 2015 and March 31, 2015 , the Company had $11.1 million and $8.6 million , respectively, of total gross unrecognized tax benefits including interest. Approximately $8.7 million and $6.6 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 December 31, 2015 , approximately $2.8 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 December 31, 2015 , the Company had approximately $1.3 million accrued for gross interest, of which $626,000 was a current period-end expense for the nine months ended December 31, 2015 . 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 fiscal 2012, although carry forward attributes that were generated prior to 2012 may still be adjusted upon examination by the taxing authorities if they either have been or will be used in a future period. The Company’s effective income tax rate increased to 42.2% for the quarter ended December 31, 2015 compared to 35.7% for the prior year quarter. The increase was primarily due to the increase in reserves related to an adverse State court ruling in the current period.

LITIGATION

LITIGATION	9 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
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 receipt of a Notice and Opportunity to Respond and Advise ("NORA") letter from the CFPB on August 7, 2015 and the Company’s responses 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 the above-referenced CID from the CFPB. The original complaint seeks class certification, unspecified monetary damages, costs and attorneys’ fees. The lead plaintiff’s amended complaint contains similar allegations to the original complaint, but expands the class period and includes additional allegations that the Company’s loan growth and volume figures were inflated because of a weakness in the Company’s internal controls relating to its accounting treatment of certain small-dollar loan re-financings. The Company and the individual defendants subsequently moved to dismiss the amended complaint. On May 18, 2015, the Court issued an order denying the Company’s motion to dismiss. On May 28, 2015, the Company filed a motion asking the Court to certify its May 18, 2015 order for immediate appeal to the United States Court of Appeals for the Fourth Circuit, pursuant to 28 U.S.C. Section 1292(b), and to stay proceedings pending the resolution of that appeal, on grounds that the Court’s decision involves a controlling question of law over which there is substantial ground for difference of opinion and an immediate appeal may materially advance the ultimate termination of the litigation. On July 1, 2015, the Company filed an answer to the amended complaint, denying all liability. On December 18, 2015, the lead plaintiff filed a second amended complaint, which supersedes the amended complaint. The second amended complaint contains similar allegations to the amended complaint, but expands the class period further from January 30, 2013 through April 28, 2014 to January 30, 2013 through August 10, 2015, and contains additional allegations regarding, among other things, the Company’s receipt of the below-referenced NORA letter from the CFPB. On January 12, 2016, the Court dismissed defendants’ motion for certification of the Court’s May 18, 2015 order for immediate appeal without prejudice with leave to refile in light of the filing of the second amended complaint, because, as the Court noted, “the case, for all practical purposes, has started over.” On January 29, 2016, defendants moved to dismiss the second amended complaint. The Company expects briefing to be complete on that motion by April 2016. As previously disclosed, on July 15, 2015, a shareholder filed a putative derivative complaint, Irwin J. Lipton, et al. v. McLean, et al., in the United States District Court for the District of South Carolina (case number 6:15-cv-02796-MGL) (the “Lipton Derivative Action”), on behalf of the Company against certain of our current and former officers and directors. On September 21, 2015, another shareholder filed a putative derivative complaint, Paul Parshall, et al. v. McLean, et al., in the United States District Court for the District of South Carolina (case number 6:15-cv-03779-MGL) (the “Parshall Derivative Action”), asserting substantially similar claims on behalf of the Company against certain of our current and former officers and directors. On October 14, 2015, the Court entered an order consolidating the Lipton Derivative Action and the Parshall Derivative Action as In re World Acceptance Corp. Derivative Litigation (Lead Case No. 6:15-cv-02796-MGL) and providing, among other things, that the defendants need not respond to the initial complaints filed in the Lipton Derivative Action and the Parshall Derivative Action, but instead would respond to a consolidated complaint to be filed by the plaintiffs. On October 23, the plaintiffs filed their consolidated complaint. The consolidated complaint alleges, among other things, (i) that the defendants breached their fiduciary duties by disseminating false and misleading information to the Company’s shareholders regarding the Company’s loan growth, loan renewals, allowances for loan losses, revenue sources, revenue growth, compliance with GAAP, and the sufficiency of the Company’s internal controls and accounting procedures; (ii) that the defendants breached their fiduciary duties by failing to ensure that the Company maintained adequate internal controls; (iii) that the defendants breached their fiduciary duties by failing to exercise prudent oversight and supervision of the Company’s officers and other employees to ensure conformity with all applicable laws and regulations; (iv) that the defendants were unjustly enriched as a result of the compensation they received while allegedly breaching their fiduciary duties owed to the Company; (v) that the defendants wasted corporate assets by paying excessive compensation to certain of the Company’s executive officers, awarding self-interested stock options to certain of the Company’s officers and directors, incurring legal liability and legal costs to defend the defendants’ unlawful actions, and authorizing the repurchase of Company stock at artificially inflated prices; (vi) that certain of the defendants breached their fiduciary duty to the Company by selling shares of the Company’s stock at artificially inflated prices while in the possession of material, nonpublic information regarding the Company’s financial condition; (vii) that the defendants violated Section 10(b) of the Securities Exchange Act of 1934 by making false and misleading statements regarding the Company’s practices regarding loan renewals, loan modifications, and accounting for loans; and (viii) that the defendants violated Section 14(a) of the Securities Exchange Act of 1934 by failing to disclose alleged material facts in the Company’s 2014 and 2015 proxy statements. The consolidated complaint seeks, among other things, unspecified monetary damages and an order directing the Company to take steps to reform and improve its corporate governance and internal procedures to comply with applicable laws and to protect the Company and its shareholders from future wrongdoing such as that described in the consolidated complaint. Defendants filed motions to dismiss the consolidated complaint on December 18, 2015, which remain pending. 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 condition. 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)	9 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 11 – SUBSEQUENT EVENTS None.

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Dec. 31, 2015
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 carrying amount and estimated fair values of the Company’s financial instruments summarized by level are as follows: December 31, 2015 March 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value ASSETS Level 1 inputs Cash and cash equivalents $ 20,942,400 $ 20,942,400 $ 38,338,935 $ 38,338,935 Level 3 inputs Loans receivable, net 797,216,764 797,216,764 742,304,690 742,304,690 LIABILITIES Level 3 inputs Senior notes payable 511,935,000 511,935,000 501,150,000 501,150,000

ALLOWANCE FOR LOAN LOSSES (Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
	Dec. 31, 2015
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 December 31, Nine months ended December 31, 2015 2014 2015 2014 Balance at beginning of period $ 80,317,713 81,817,578 $ 70,437,988 63,254,940 Provision for loan losses 35,440,402 38,292,746 99,225,547 105,346,744 Loan losses (35,294,084 ) (37,978,106 ) (97,622,277 ) (93,210,529 ) Recoveries (1) 4,131,664 3,589,412 13,397,456 10,616,382 Translation adjustment (107,101 ) (703,131 ) (950,120 ) (989,038 ) Balance at end of period $ 84,488,594 85,018,499 $ 84,488,594 85,018,499
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: December 31, 2015 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,839,276 — 4,839,276 Gross loans contractually delinquent 56,777,734 — 56,777,734 Loans not contractually delinquent and not in bankruptcy — 1,157,592,356 1,157,592,356 Gross loan balance 61,617,010 1,157,592,356 1,219,209,366 Unearned interest, insurance and fees (15,173,459 ) (322,330,549 ) (337,504,008 ) Net loans 46,443,551 835,261,807 881,705,358 Allowance for loan losses (41,809,944 ) (42,678,650 ) (84,488,594 ) Loans, net of allowance for loan losses $ 4,633,607 792,583,157 797,216,764 March 31, 2015 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,821,691 — 4,821,691 Gross loans contractually delinquent 48,262,853 — 48,262,853 Loans not contractually delinquent and not in bankruptcy — 1,057,060,538 1,057,060,538 Gross loan balance 53,084,544 1,057,060,538 1,110,145,082 Unearned interest, insurance and fees (13,115,117 ) (284,287,287 ) (297,402,404 ) Net loans 39,969,427 772,773,251 812,742,678 Allowance for loan losses (35,352,658 ) (35,085,330 ) (70,437,988 ) Loans, net of allowance for loan losses $ 4,616,769 737,687,921 742,304,690 December 31, 2014 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 5,375,640 — 5,375,640 Gross loans contractually delinquent 54,521,862 — 54,521,862 Loans not contractually delinquent and not in bankruptcy — 1,202,720,469 1,202,720,469 Gross loan balance 59,897,502 1,202,720,469 1,262,617,971 Unearned interest, insurance and fees (14,879,254 ) (330,113,392 ) (344,992,646 ) Net loans 45,018,248 872,607,077 917,625,325 Allowance for loan losses (39,871,072 ) (45,147,427 ) (85,018,499 ) Loans, net of allowance for loan losses $ 5,147,176 827,459,650 832,606,826
Assessment of the credit quality	The following is an assessment of the credit quality for the period indicated: December 31, March 31, December 31, Credit risk Consumer loans- non-bankrupt accounts $ 1,213,286,140 1,104,179,016 1,256,348,256 Consumer loans- bankrupt accounts 5,923,226 5,966,066 6,269,715 Total gross loans $ 1,219,209,366 1,110,145,082 1,262,617,971 Consumer credit exposure Credit risk profile based on payment activity, performing $ 1,131,348,784 1,032,984,546 1,177,925,160 Contractual non-performing, 60 or more days delinquent (1) 87,860,582 77,160,536 84,692,811 Total gross loans $ 1,219,209,366 1,110,145,082 1,262,617,971 Credit risk profile based on customer type New borrower $ 173,506,380 146,376,318 189,297,996 Former borrower 137,261,707 110,149,558 131,854,445 Refinance 884,046,393 829,661,427 914,438,177 Delinquent refinance 24,394,886 23,957,779 27,027,353 Total gross loans $ 1,219,209,366 1,110,145,082 1,262,617,971
Summary of the past due receivables	The following is a summary of the past due receivables as of: December 31, March 31, December 31, Contractual basis: 30-59 days past due $ 44,805,260 43,663,540 44,649,718 60-89 days past due 29,428,608 26,027,649 28,227,745 90 days or more past due 58,431,974 51,132,887 56,465,066 Total $ 132,665,842 120,824,076 129,342,529 Percentage of period-end gross loans receivable 10.9 % 10.9 % 10.2 %

AVERAGE SHARE INFORMATION (Tabl

AVERAGE SHARE INFORMATION (Tables)	9 Months Ended
	Dec. 31, 2015
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 December 31, Nine months ended December 31, 2015 2014 2015 2014 Basic: Weighted average common shares outstanding (denominator) 8,657,675 9,043,190 8,624,617 9,225,205 Diluted: Weighted average common shares outstanding 8,657,675 9,043,190 8,624,617 9,225,205 Dilutive potential common shares stock options 36,376 165,618 62,308 165,828 Weighted average diluted shares outstanding (denominator) 8,694,051 9,208,808 8,686,925 9,391,033

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]	Fair value was estimated at grant date using the weighted-average assumptions listed below: Three months ended December 31, Nine months ended December 31, 2015 2014 2015 2014 Dividend Yield —% —% —% —% Expected Volatility 41.51% 44.53% 41.41% 44.67% Average risk-free rate 1.37% 1.77% 1.38% 1.77% Expected Life 5.0 years 6.1 years 5.0 years 6.1 years
Tabular disclosure of performance shares vesting based on EPS targets [Table Text Block]	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% Group A awards vested 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%
Summary schedule of stock option activity	ption activity for the nine months ended December 31, 2015 was as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Options outstanding, beginning of period 1,083,767 $ 69.15 Granted during period 112,400 28.45 Exercised during period (64,103 ) 43.24 Forfeited during period (119,677 ) 72.92 Expired during period (9,958 ) 61.43 Options outstanding, end of period 1,002,429 $ 65.87 7.04 $ 1,803,974 Options exercisable, end of period 488,081 $ 64.96 5.80 $ 702,630
Intrinsic value of options exercised	The total intrinsic value of options exercised during the periods ended December 31, 2015 and 2014 was as follows: December 31, December 31, Three months ended $ 153,726 $ 2,534,147 Nine months ended $ 2,107,301 $ 2,973,627
Summary of the status and changes restricted stock	A summary of the status of the Company’s restricted stock as of December 31, 2015 , and changes during the nine months ended December 31, 2015 , are presented below: Shares Weighted Average Fair Value at Grant Date Outstanding at March 31, 2015 433,750 $ 76.84 Granted during the period 67,550 27.84 Vested during the period (91,140 ) 76.02 Forfeited during the period (149,250 ) 74.10 Outstanding at December 31, 2015 260,910 $ 66.01
Share-based compensation included as a component of net income	Total share-based compensation included as a component of net income during the three and nine month periods ended December 31, 2015 and 2014 was as follows: Three months ended December 31, Nine months ended December 31, 2015 2014 2015 2014 Share-based compensation related to equity classified awards: Share-based compensation related to stock options $ 1,719,236 2,645,017 3,226,766 6,538,234 Share-based compensation related to restricted stock, net of adjustments and exclusive of cancellations 346,865 2,018,775 (6,049,127 ) 5,969,533 Total share-based compensation related to equity classified awards $ 2,066,101 4,663,792 (2,822,361 ) 12,507,767

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Dec. 31, 2015
Business Acquisition [Line Items]
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 nine months ended December 31, 2015 and 2014 : 2015 2014 Number of business combinations — 2 Number of asset purchases 1 2 Total acquisitions 1 4 Purchase Price $ 173,628 1,724,901 Tangible assets: Net loans 92,097 1,348,036 Furniture, fixtures & equipment — 4,000 $ 92,097 1,352,036 Excess of purchase prices over carrying value of net tangible assets $ 81,531 372,865 Customer lists $ 76,531 198,534 Non-compete agreements $ 5,000 20,000 Goodwill $ — 154,331 When the acquisition results in a new branch, 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 branch 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. 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 nine months ended December 31, 2015 . 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. 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 nine months ended December 31, 2015 and 2014 : 2015 2014 Number of business combinations — 2 Number of asset purchases 1 2 Total acquisitions 1 4 Purchase Price $ 173,628 1,724,901 Tangible assets: Net loans 92,097 1,348,036 Furniture, fixtures & equipment — 4,000 $ 92,097 1,352,036 Excess of purchase prices over carrying value of net tangible assets $ 81,531 372,865 Customer lists $ 76,531 198,534 Non-compete agreements $ 5,000 20,000 Goodwill $ — 154,331

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($)	9 Months Ended
	Dec. 31, 2015	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Loans and Leases Receivable, Average Loan Period	8 months
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes payable	$ 511,935,000	$ 501,150,000
Reported Value Measurement [Member] | Senior notes payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes payable	511,935,000	501,150,000
Estimate of Fair Value Measurement [Member] | Senior notes payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes payable	511,935,000	501,150,000
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	20,942,400	38,338,935
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	20,942,400	38,338,935
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Receivables, Fair Value Disclosure	797,216,764	742,304,690
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Receivables, Fair Value Disclosure	$ 797,216,764	$ 742,304,690

RECEIVABLES AND ALLOWANCE FOR L

RECEIVABLES AND ALLOWANCE FOR LOAN LOSSES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment			$ 42,000,000	$ 35,400,000
Allowance for Loan Losses [Roll Forward]
Balance at beginning of period	$ 80,317,713	$ 81,817,578	70,437,988	63,254,940
Provision for loan losses	35,440,402	38,292,746	99,225,547	105,346,744
Loan losses	35,294,084	37,978,106	97,622,277	93,210,529
Recoveries	4,131,664	3,589,412	13,397,456	10,616,382
Translation adjustment	(107,101)	(703,131)	(950,120)	(989,038)
Balance at end of period	84,488,594	85,018,499	84,488,594	85,018,499
Summary of loans individually and collectively evaluated for impairment [Abstract]
Bankruptcy, gross loans					$ 4,839,276	$ 4,821,691	$ 5,375,640
91 days or more delinquent, excluding bankruptcy					56,777,734	48,262,853	54,521,862
Loans less than 91 days delinquent and not in bankruptcy					1,157,592,356	1,057,060,538	1,202,720,469
Gross loan balance					1,219,209,366	1,110,145,082	1,262,617,971
Unearned interest and fees					(337,504,008)	(297,402,404)	(344,992,646)
Net loans					881,705,358	812,742,678	917,625,325
Allowance for loan losses	(80,317,713)	(81,817,578)	(70,437,988)	(63,254,940)	(84,488,594)	(70,437,988)	(85,018,499)
Loans receivable, net					797,216,764	742,304,690	832,606,826
Loans individually evaluated for impairment (impaired loans) [Member]
Allowance for Loan Losses [Roll Forward]
Balance at beginning of period			35,352,658
Balance at end of period	41,809,944	39,871,072	41,809,944	39,871,072
Summary of loans individually and collectively evaluated for impairment [Abstract]
Bankruptcy, gross loans					4,839,276	4,821,691	5,375,640
91 days or more delinquent, excluding bankruptcy					56,777,734	48,262,853	54,521,862
Loans less than 91 days delinquent and not in bankruptcy					0	0	0
Gross loan balance					61,617,010	53,084,544	59,897,502
Unearned interest and fees					(15,173,459)	(13,115,117)	(14,879,254)
Net loans					46,443,551	39,969,427	45,018,248
Allowance for loan losses	(41,809,944)	(39,871,072)	(35,352,658)	(39,871,072)	(41,809,944)	(35,352,658)	(39,871,072)
Loans receivable, net					4,633,607	4,616,769	5,147,176
Loans collectively evaluated for impairment [Member]
Allowance for Loan Losses [Roll Forward]
Balance at beginning of period			35,085,330
Balance at end of period	42,678,650	45,147,427	42,678,650	45,147,427
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					1,157,592,356	1,057,060,538	1,202,720,469
Gross loan balance					1,157,592,356	1,057,060,538	1,202,720,469
Unearned interest and fees					(322,330,549)	(284,287,287)	(330,113,392)
Net loans					835,261,807	772,773,251	872,607,077
Allowance for loan losses	$ (42,678,650)	$ (45,147,427)	$ (35,085,330)	$ (45,147,427)	(42,678,650)	(35,085,330)	(45,147,427)
Loans receivable, net					$ 792,583,157	$ 737,687,921	$ 827,459,650

ALLOWANCE FOR LOAN LOSSES (Asse

ALLOWANCE FOR LOAN LOSSES (Assessment of Credit Quality) (Details) - USD ($)	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	$ 1,219,209,366	$ 1,110,145,082	$ 1,262,617,971
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	87,860,582	77,160,536	84,692,811
New borrower [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	173,506,380	146,376,318	189,297,996
Former borrower [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	137,261,707	110,149,558	131,854,445
Refinance [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	884,046,393	829,661,427	914,438,177
Delinquent refinance [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	24,394,886	23,957,779	27,027,353
Consumer loans- non-bankrupt accounts [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	1,213,286,140	1,104,179,016	1,256,348,256
Consumer loans- bankrupt accounts [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	5,923,226	5,966,066	6,269,715
Performing Financing Receivable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	$ 1,131,348,784	$ 1,032,984,546	$ 1,177,925,160

ALLOWANCE FOR LOAN LOSSES (Summ

ALLOWANCE FOR LOAN LOSSES (Summary of Past Due Receivables) (Details) - USD ($)	9 Months Ended		12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Consumer	$ 1,219,209,366	$ 1,262,617,971	$ 1,110,145,082
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	29,428,608	28,227,745	26,027,649
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	58,431,974	56,465,066	51,132,887
Contractual basis [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	$ 132,665,842	$ 129,342,529	$ 120,824,076
Financing Receivable, Percent Past Due	10.90%	10.20%	10.90%
Contractual basis [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	$ 44,805,260	$ 44,649,718	$ 43,663,540
Performing Financing Receivable [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Consumer	$ 1,131,348,784	$ 1,177,925,160	$ 1,032,984,546

ALLOWANCE FOR LOAN LOSSES Finan

ALLOWANCE FOR LOAN LOSSES Financing Receivables (Details) - USD ($)	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross, Carrying Amount, Consumer	$ 1,219,209,366	$ 1,110,145,082	$ 1,262,617,971
Small loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross, Consumer	754,478,231		772,500,860
Large loans [Member] [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross, Consumer	462,085,177		478,293,824
Sales finance loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross, Consumer	$ 2,645,958		$ 11,823,287

AVERAGE SHARE INFORMATION (Deta

AVERAGE SHARE INFORMATION (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Basic:
Weighted average common shares outstanding (in shares)	8,657,675	9,043,190	8,624,617	9,225,205
Diluted:
Weighted average common shares outstanding (in shares)	8,657,675	9,043,190	8,624,617	9,225,205
Dilutive potential common shares stock options (in shares)	36,376	165,618	62,308	165,828
Weighted average diluted shares outstanding (in shares)	8,694,051	9,208,808	8,686,925	9,391,033
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	848,245	558,620	842,471	595,724
Net Income (Loss) Attributable to Parent	$ 14,751,374	$ 18,489,999	$ 57,569,828	$ 62,318,675	$ 110,833,458
Earnings Per Share, Basic	$ 1.70	$ 2.04	$ 6.68	$ 6.76
Earnings Per Share, Diluted	$ 1.70	$ 2.01	$ 6.63	$ 6.64

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	848,245	558,620	842,471	595,724
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%	0.00%	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	41.51%	44.53%	41.41%	44.67%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.37%	1.77%	1.38%	1.77%
Stock Option Plans [Abstract]
Number of shares available for grant (in shares)	298,553		298,553
Weighted-average fair value at the grant date	$ 10.28	$ 34.38	$ 10.82	$ 34.53
Options Activity [Roll Forward]
Exercised (in shares)			(64,103)		(159,348)
Restricted Stock [Abstract]
Grant date fair value (in dollars per share)			$ 27.84
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Grant date fair value (in dollars per share)			$ 27.84
Compensation related to stock option and restricted stock plans			$ 4,665,702	$ (12,203,949)
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	5 years	6 years 1 month 9 days	5 years 9 days	6 years 1 month 14 days
Group B Performance Award [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
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures			195,760
Stock Options Plans [Member]
Stock Option Plans [Abstract]
Shares of authorized common stock reserved for issuance (in shares)	4,100,000		4,100,000
Options Activity [Roll Forward]
Options outstanding, beginning of year (in shares)			1,083,767
Granted (in shares)			112,400
Exercised (in shares)			(64,103)
Forfeited (in shares)			(119,677)
Expired (in shares)			(9,958)
Options outstanding, end of period (in shares)	1,002,429		1,002,429		1,083,767
Options exercisable, end of period (in shares)	488,081		488,081
Weighted Average Exercise Price [Roll Forward]
Options outstanding, beginning of year (in dollars per share)			$ 69.15
Granted (in dollars per share)			28.45
Exercised (in dollars per share)			43.24
Forfeited (in dollars per share)			72.92
Expired (in dollars per share)			61.43
Options outstanding, end of period (in dollars per share)	$ 65.87		65.87		$ 69.15
Options exercisable, end of period (in dollars per share)	$ 64.96		$ 64.96
Stock Option Activity Additional Disclosures [Abstract]
Weighted-average remaining contractual term, Options outstanding, end of period			7 years 15 days
Weighted-average remaining contractual terms, Options exercisable, end of period			5 years 9 months 18 days
Aggregate intrinsic value, Options outstanding, end of period	$ 1,803,974		$ 1,803,974
Aggregate intrinsic value, Options exercisable, end of period	702,630		702,630
Intrinsic value of options exercised	153,726	$ 2,534,147	2,107,301	$ 2,973,627
Compensation Cost Not yet Recognized [Abstract]
Total unrecognized stock-based compensation expense related to non-vested stock options	10,900,000		$ 10,900,000
Weighted average period for recognition			2 years 9 months
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Weighted average period for recognition			2 years 9 months
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Compensation related to stock option and restricted stock plans	(1,719,236)	(2,645,017)	$ (3,226,766)	(6,538,234)
Group A Performance Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross						8,590	70,800
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross			67,550
Restricted Stock [Abstract]
Grant date fair value (in dollars per share)			$ 27.84
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options	$ 1,600,000		$ 1,600,000
Summary of the status and changes in restricted stock [Roll Forward]
Outstanding at Beginning of Year (in shares)			433,750
Awards granted (in shares)			67,550
Vested during the period, net of cancellations (in shares)			(91,140)
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited			(149,250)
Outstanding at End of Period (in shares)	260,910		260,910		433,750
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at March 31, 2012 (in dollars per share)			$ 76.84
Grant date fair value (in dollars per share)			27.84
Vested during the period, net of cancellations (in dollars per share)			76.02
Cancelled during the period (in dollars per share)			74.10
Outstanding at June 30, 2012 (in dollars per share)	$ 66.01		$ 66.01		$ 76.84
Compensation related to stock option and restricted stock plans	$ 300,000	(2,000,000)	$ (6,000,000)	(6,000,000)
Restricted Stock [Member] | EPS Target [Member] | $10.29 EPS [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			100.00%
EPS Target			$ 10.29
Restricted Stock [Member] | EPS Target [Member] | $9.76 EPS [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			67.00%
EPS Target			$ 9.76
Restricted Stock [Member] | EPS Target [Member] | $9.26 EPS [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			33.00%
EPS Target			$ 9.26
Restricted Stock [Member] | EPS Target [Member] | Below $9.26 EPS [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			0.00%
EPS Target			$ 9.26
Restricted Stock [Member] | Trailing Four Quarter EPS Target [Member] | $13.00 [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			25.00%
EPS Target			$ 13
Restricted Stock [Member] | Trailing Four Quarter EPS Target [Member] | $14.50 [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			25.00%
EPS Target			$ 14.50
Restricted Stock [Member] | Trailing Four Quarter EPS Target [Member] | $16.00 [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			25.00%
EPS Target			$ 16
Restricted Stock [Member] | Trailing Four Quarter EPS Target [Member] | $18.00 [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			25.00%
EPS Target			$ 18
Equity Securities [Member]
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Compensation related to stock option and restricted stock plans	(2,066,101)	$ (4,663,792)	$ 2,822,361	$ (12,507,767)
Performance Shares [Member]
Compensation Cost Not yet Recognized [Abstract]
Weighted average period for recognition			2 years 9 months
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Weighted average period for recognition			2 years 9 months
Unrecognized compensation cost related to unvested restricted stock awards granted	$ 11,600,000		$ 11,600,000
Maximum [Member] | Stock Options Plans [Member]
Stock Option Plans [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Vesting period			5 years
Unusual or Infrequent Item [Member]
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Compensation related to stock option and restricted stock plans			$ 3,700,000
Unusual or Infrequent Item [Member] | $14.50 [Member]
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Compensation related to stock option and restricted stock plans			$ 6,000,000

ACQUISITIONS (Details)

ACQUISITIONS (Details)	9 Months Ended
	Dec. 31, 2015USD ($)asset_purchaseacquisitionbusiness_combination	Dec. 31, 2014USD ($)asset_purchaseacquisitionbusiness_combination
Business Acquisition [Line Items]
Number of offices purchased | business_combination	0	2
Merged into existing offices | asset_purchase	1	2
Total acquisitions | acquisition	1	4
Loans and Leases Receivable, Average Loan Period	8 months
Series of Business Acquisitions [Member]
Business Acquisition [Line Items]
Purchase Price	$ 173,628	$ 1,724,901
Business Combination, Acquired Receivables, Fair Value	92,097	1,348,036
Furniture, fixtures & equipment	0	4,000
Total tangible assets	92,097	1,352,036
Intangible Assets, Net (Including Goodwill)	81,531	372,865
Finite-Lived Customer Lists, Gross	76,531	198,534
Finite-Lived Noncompete Agreements, Gross	5,000	20,000
Goodwill, Fair Value Disclosure	$ 0	$ 154,331

DEBT (Details)

DEBT (Details) - USD ($)	9 Months Ended
	Dec. 31, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Line of Credit Facility [Line Items]
Letters of Credit Outstanding, Amount	$ 1,500,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	600,000,000	$ 400,000,000	$ 500,000,000
Amount outstanding	$ 511,900,000
Reference rate	LIBOR
Basis spread on variable rate (in hundredths)	4.00%
Debt instrument interest rate, minimum (in hundredths)	5.00%
Debt instrument effective interest rate (in hundredths)	5.40%			4.30%
Unused amount available	$ 86,600,000
Commitment fee percentage (in hundredths)	0.50%
Expiration date	Jun. 15, 2017

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
	Dec. 31, 2015USD ($)foreign_subsidiary	Dec. 31, 2014	Dec. 31, 2015USD ($)foreign_subsidiary	Mar. 31, 2015USD ($)
Income Tax Contingency [Line Items]
Number of foreign subsidiaries required to be assessed | foreign_subsidiary	2		2
Total gross unrecognized tax benefits including interest	$ 11,100,000		$ 11,100,000	$ 8,600,000
Unrecognized tax benefits that are permanent in nature and, if recognized, would affect the annual effective tax rate	8,700,000		8,700,000	$ 6,600,000
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	2,800,000		2,800,000
Accrued gross interest	$ 1,300,000		1,300,000
Current period gross interest expense			626,000
Effective Income Tax Rate Reconciliation, Percent	42.20%	35.70%
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	$ 1,400,000		1,400,000
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	$ 20,500,000		$ 20,500,000