World Acceptance (WRLD) 10-Q 5 Aug 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2016	Jul. 29, 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		8,790,480
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2016	Mar. 31, 2016
ASSETS
Cash and cash equivalents	$ 10,123,775	$ 12,377,024
Loans and Leases Receivable, Gross	1,087,502,182	1,066,964,342
Less:
Financing Receivable Individually Evaluated for Impairment Unearned Interest and Fees	302,092,006	290,659,162
Unearned interest, insurance and fees	(302,092,006)	(290,659,162)
Allowance for loan losses	(71,993,060)	(69,565,804)
Loans receivable, net	713,417,116	706,739,376
Property and equipment, net	24,465,337	25,296,913
Deferred income taxes	39,339,204	38,130,982
Other assets, net	14,155,865	14,636,573
Goodwill	6,121,458	6,121,458
Intangible assets, net	2,806,483	2,916,537
Total assets	810,429,238	806,218,863
Liabilities:
Senior notes payable	360,360,000	374,685,000
Income taxes payable	18,413,353	8,258,642
Accounts payable and accrued expenses	26,879,157	31,373,640
Total liabilities	405,652,510	414,317,282
Commitments and contingencies
Shareholders' equity:
Preferred stock, no par value	0	0
Common stock, no par value	0	0
Additional paid-in capital	139,384,378	138,835,064
Retained earnings	292,618,816	276,000,862
Accumulated other comprehensive loss	(27,226,466)	(22,934,345)
Total shareholders' equity	404,776,728	391,901,581
Total liabilities and shareholders' equity	$ 810,429,238	$ 806,218,863

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2016	Mar. 31, 2016
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)	8,788,500	8,812,250
Common stock, shares outstanding (in shares)	8,788,500	8,812,250

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Interest and fee income	$ 114,044,807	$ 122,838,572
Insurance commissions and other income	13,035,289	14,386,210
Total revenues	127,080,096	137,224,782
Expenses:
Provision for loan losses	32,014,277	26,228,009
General and administrative expenses:
Personnel	41,995,857	43,219,745
Occupancy and equipment	10,502,155	10,392,735
Advertising	2,351,145	3,168,113
Amortization of intangible assets	110,055	140,289
Other	7,989,293	10,647,159
Total general and administrative expenses	62,948,505	67,568,041
Interest expense	5,586,319	5,471,996
Total expenses	100,549,101	99,268,046
Income before income taxes	26,530,995	37,956,736
Income taxes	9,913,041	14,324,685
Net income	$ 16,617,954	$ 23,632,051
Net income per common share:
Basic (in dollars per share)	$ 1.91	$ 2.75
Diluted (in dollars per share)	$ 1.89	$ 2.71
Weighted average common shares outstanding:
Basic (in shares)	8,721,718	8,588,647
Diluted (in shares)	8,770,374	8,711,960

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Net income	$ 16,617,954	$ 23,632,051
Foreign currency translation adjustments	(4,292,121)	(1,823,776)
Comprehensive income	$ 12,325,833	$ 21,808,275

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, 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	3,327,067	3,327,067
Issuance of restricted common stock under stock option plan	(10,322,230)	(10,322,230)
Stock option expense	3,965,463	3,965,463
Other comprehensive income	(8,031,995)			(8,031,995)
Net income	87,395,557		87,395,557
Balances at Mar. 31, 2016	391,901,581	138,835,064	276,000,862	(22,934,345)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Proceeds from exercise of stock options, including tax benefits	(4,212)	(4,212)
Issuance of restricted common stock under stock option plan	187,862	187,862
Stock option expense	365,664	365,664
Other comprehensive income	(4,292,121)			(4,292,121)
Net income	16,617,954		16,617,954
Balances at Jun. 30, 2016	$ 404,776,728	$ 139,384,378	$ 292,618,816	$ (27,226,466)

CONSOLIDATED STATEMENTS OF SHA7

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Proceeds from exercise of stock options (in shares)	6,000	89,403
Proceeds from exercise of stock options, tax benefits	$ (171,069)	$ 78,382
Common stock repurchases (in shares)	0	0
Adjustments Related to Tax Withholding for Share-based Compensation	$ 0	$ 2,289,017

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flow from operating activities:
Net income	$ 16,617,954	$ 23,632,051
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets	110,055	140,289
Amortization of loan costs and discounts	703,721	219,582
Provision for loan losses	32,014,277	26,228,009
Depreciation	1,741,007	1,651,280
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	39,885	(12,442)
Deferred income tax benefit	(1,607,396)	(294,549)
Compensation related to stock option and restricted stock plans	553,526	(3,696,045)
Gain (Loss) on Sales of Consumer Loans	0	1,795,432
Change in accounts:
Other assets, net	1,355,205	(147,324)
Income taxes payable	10,190,089	582,763
Accounts payable and accrued expenses	(5,996,755)	(2,850,047)
Net cash provided by operating activities	55,721,568	43,658,135
Cash flows from investing activities:
Increase in loans receivable, net	(42,167,594)	(49,818,408)
Proceeds from Sale of Loans Receivable	0	1,952,125
Purchases of property and equipment	(1,390,712)	(1,622,083)
Proceeds from Sale of Property, Plant, and Equipment	172,027	81,551
Net cash used in investing activities	(43,386,279)	(49,406,815)
Cash flow from financing activities:
Borrowings from senior notes payable	55,875,000	72,200,000
Payments on senior notes payable	(70,200,000)	(84,400,000)
Proceeds from exercise of stock options	166,857	2,339,313
Payments of Loan Costs	0	5,500,000
Excess tax benefits from exercise of stock options	(171,069)	236,159
Net cash provided by financing activities	(14,329,212)	(15,124,528)
Increase in cash and cash equivalents	(2,253,249)	(21,128,165)
Effects of foreign currency fluctuations on cash	(259,326)	(254,957)
Cash and cash equivalents at beginning of period	12,377,024	38,338,935
Cash and cash equivalents at end of period	10,123,775	17,210,770
Interest Paid	4,944,649	5,164,502
Income Taxes Paid	$ 1,501,419	$ 13,803,056

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The consolidated financial statements of the Company at June 30, 2016 , and for the three months then ended were prepared in accordance with the instructions for Form 10-Q and are unaudited; however, in the opinion of management all adjustments (consisting only of items of a normal, recurring nature) necessary for a fair presentation of the financial position at June 30, 2016 , and the results of operations and cash flows for the periods ended June 30, 2016 and 2015 , 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 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, 2016 , included in the Company’s 2016 Annual Report to Shareholders.

SUMMARY OF SIGNIFICANT POLICIES

SUMMARY OF SIGNIFICANT POLICIES	3 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT POLICIES	SUMMARY OF SIGNIFICANT POLICIES Nature of Operations 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. In U.S. branches, the Company offers income tax return preparation services to its loan customers and other individuals. Seasonality The Company's loan volume and corresponding loans receivable follow seasonal trends. The Company's highest loan demand generally occurs from October through December, its third fiscal quarter. Loan demand is generally lowest and loan repayment highest from January to March, its fourth fiscal quarter. Loan volume and average balances remain relatively level during the remainder of the year. Consequently, the Company experiences significant seasonal fluctuations in its operating results and cash needs. Operating results for the Company's third fiscal quarter are generally 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 were adopted April 1, 2016 with no impact 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. Leases In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). The ASU will require lessees to recognize assets and liabilities on leases with terms greater than 12 months and to disclose information related to the amount, timing and uncertainty of cash flows arising from leases, including various qualitative and quantitative requirements. The amendments of this ASU become effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. We are currently evaluating the impact the adoption of this guidance will have on our consolidated financial statements. Technical Corrections and Improvements In March 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-08, Principal versus Agent Considerations, which clarifies the implementation of the guidance on principal versus agent considerations from ASU 2014-09, Revenue from Contracts with Customers. ASU 2016-08 does not change the core principle of the guidance in ASU 2014-09, but rather clarifies the distinction between principal versus agent considerations when implementing ASU 2014-09. As these are technical corrections and improvements only, the Company does not believe that this ASU will have a material effect on its consolidated financial statements. Stock Compensation In March 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share - Based Payment Accounting, which simplifies the accounting for share-based payment transactions, income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendment in this ASU becomes effective on a modified retrospective transition for accounting in tax benefits recognized, retrospectively for accounting related to the presentation of employee taxes paid, prospective for accounting related to recognition of excess tax benefits, and either a prospective or retrospective method for accounting related to presentation of excess employee tax benefits for annual periods, and interim periods within those annual periods, beginning after December 15, 2016. We are currently evaluating the impact the adoption of this guidance will have on our consolidated financial statements. Revenue from Contracts with Customers In April 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2016-10, Identifying Performance Obligations and Licensing. The amendments clarify the following two aspects of Topic 606: (a) identifying performance obligations; and (b) the licensing implementation guidance. The amendments do not change the core principle of the guidance in Topic 606. The effective date and transition requirements for the amendments are the same as the effective date and transition requirements in Topic 606. Public entities should apply the amendments for annual reporting periods beginning after December 15, 2017, including interim reporting periods therein (i.e., January 1, 2018, for a calendar year entity). Early application for public entities is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. We are currently evaluating the impact the adoption of this guidance will have on our consolidated financial statements. Measurement of Credit Losses on Financial Instruments In June 2016, Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses. The amendment seeks to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this ASU replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For public business entities the amendments are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. 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, 2016
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 considers 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: June 30, 2016 March 31, 2016 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value ASSETS Level 1 inputs Cash and cash equivalents $ 10,123,775 $ 10,123,775 $ 12,377,024 $ 12,377,024 Level 3 inputs Loans receivable, net 713,417,116 713,417,116 706,739,376 706,739,376 LIABILITIES Level 3 inputs Senior notes payable 360,360,000 360,360,000 374,685,000 374,685,000 There were no significant assets or liabilities measured at fair value on a non-recurring basis as of June 30, 2016 or March 31, 2016 .

ALLOWANCE FOR LOAN LOSSES

ALLOWANCE FOR LOAN LOSSES	3 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
ALLOWANCE FOR LOAN LOSSES	ALLOWANCE FOR LOAN LOSSES The following is a summary of gross loans receivable as of: June 30, March 31, June 30, Small loans $ 656,868,824 637,826,581 695,861,419 Large loans 429,849,838 427,723,584 448,157,435 Sales finance receivables 783,520 1,414,177 6,649,816 Total gross loans $ 1,087,502,182 1,066,964,342 1,150,668,670 The following is a summary of the changes in the allowance for loan losses for the periods indicated: Three months ended June 30, 2016 2015 Balance at beginning of period $ 69,565,804 70,437,988 Provision for loan losses 32,014,277 26,228,009 Loan losses (32,694,842 ) (29,875,432 ) Recoveries (1) 3,722,398 5,374,848 Translation adjustment (614,577 ) (205,444 ) Balance at end of period $ 71,993,060 71,959,969 (1) Recoveries during the three months ended June 30, 2015 included $1.8 million of recoveries 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: June 30, 2016 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,849,868 — 4,849,868 Gross loans contractually delinquent 46,926,272 — 46,926,272 Loans not contractually delinquent and not in bankruptcy — 1,035,726,042 1,035,726,042 Gross loan balance 51,776,140 1,035,726,042 1,087,502,182 Unearned interest and fees (12,655,577 ) (289,436,429 ) (302,092,006 ) Net loans 39,120,563 746,289,613 785,410,176 Allowance for loan losses (34,476,814 ) (37,516,246 ) (71,993,060 ) Loans, net of allowance for loan losses $ 4,643,749 708,773,367 713,417,116 March 31, 2016 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,560,322 — 4,560,322 Gross loans contractually delinquent 46,373,923 — 46,373,923 Loans not contractually delinquent and not in bankruptcy — 1,016,030,097 1,016,030,097 Gross loan balance 50,934,245 1,016,030,097 1,066,964,342 Unearned interest and fees (12,726,898 ) (277,932,264 ) (290,659,162 ) Net loans 38,207,347 738,097,833 776,305,180 Allowance for loan losses (33,840,839 ) (35,724,965 ) (69,565,804 ) Loans, net of allowance for loan losses $ 4,366,508 702,372,868 706,739,376 June 30, 2015 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,692,823 — 4,692,823 Gross loans contractually delinquent 47,139,095 — 47,139,095 Loans not contractually delinquent and not in bankruptcy — 1,098,836,752 1,098,836,752 Gross loan balance 51,831,918 1,098,836,752 1,150,668,670 Unearned interest and fees (12,820,008 ) (301,349,989 ) (314,169,997 ) Net loans 39,011,910 797,486,763 836,498,673 Allowance for loan losses (34,518,532 ) (37,441,437 ) (71,959,969 ) Loans, net of allowance for loan losses $ 4,493,378 760,045,326 764,538,704 The average net balance of impaired loans was $38.7 million and $39.5 million , respectively, for the three month periods ended June 30, 2016 , and 2015 . 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: June 30, March 31, June 30, Credit risk Consumer loans- non-bankrupt accounts $ 1,081,650,322 1,061,436,900 1,145,206,726 Consumer loans- bankrupt accounts 5,851,860 5,527,442 5,461,944 Total gross loans $ 1,087,502,182 1,066,964,342 1,150,668,670 Consumer credit exposure Credit risk profile based on payment activity, performing $ 1,011,083,612 991,386,552 1,076,373,327 Contractual non-performing, 60 or more days delinquent (1) 76,418,570 75,577,790 74,295,343 Total gross loans $ 1,087,502,182 1,066,964,342 1,150,668,670 Credit risk profile based on customer type New borrower $ 137,421,921 141,980,629 141,644,702 Former borrower 121,314,533 111,608,375 126,619,807 Refinance 810,003,062 793,913,695 857,726,825 Delinquent refinance 18,762,666 19,461,643 24,677,336 Total gross loans $ 1,087,502,182 1,066,964,342 1,150,668,670 (1) Loans in non-accrual status The following is a summary of the past due receivables as of: June 30, March 31, June 30, Contractual basis: 30-59 days past due $ 42,599,938 40,094,824 41,190,574 60-89 days past due 27,460,571 27,082,385 24,566,924 90 days or more past due 48,957,999 48,495,405 49,728,419 Total $ 119,018,508 115,672,614 115,485,917 Percentage of period-end gross loans receivable 10.9 % 10.8 % 10.0 %

AVERAGE SHARE INFORMATION

AVERAGE SHARE INFORMATION	3 Months Ended
	Jun. 30, 2016
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, 2016 2015 Basic: Weighted average common shares outstanding (denominator) 8,721,718 8,588,647 Diluted: Weighted average common shares outstanding 8,721,718 8,588,647 Dilutive potential common shares stock options 48,656 123,313 Weighted average diluted shares outstanding (denominator) 8,770,374 8,711,960 Options to purchase 804,955 and 415,372 shares of common stock at various prices were outstanding during the three months ended June 30, 2016 and 2015 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	3 Months Ended
	Jun. 30, 2016
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 three to 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, 2016 , there were a total of 514,794 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 must also be 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 June 30, 2016 and 2015 was $21.64 and $32.05 , respectively. Fair value was estimated at grant date using the weighted-average assumptions listed below: Three months ended June 30, 2016 2015 Dividend Yield —% —% Expected Volatility 56.18% 37.64% Average risk-free rate 1.37% 1.65% Expected Life 5.9 years 6.0 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 three months ended June 30, 2016 was as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Options outstanding, beginning of period 950,651 $ 67.20 Granted during period 600 41.22 Exercised during period (6,000 ) 27.81 Forfeited during period (30,773 ) 67.52 Expired during period (12,600 ) 70.23 Options outstanding, end of period 901,878 $ 67.39 6.79 $ 2,484,399 Options exercisable, end of period 433,477 $ 68.48 5.78 $ 591,213 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, 2016 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, 2016 . This amount will change as the stock’s market price changes. The total intrinsic value of options exercised during the periods ended June 30, 2016 and 2015 was as follows: June 30, June 30, Three months ended $ 87,477 $ 1,953,575 As of June 30, 2016 , total unrecognized stock-based compensation expense related to non-vested stock options amounted to approximately $8.4 million , which is expected to be recognized over a weighted-average period of approximately 2.2 years. Restricted Stock So far during fiscal 2017, the Company has granted 2,400 shares of restricted stock (which are equity classified), to one executive officer, with a grant date weighted average fair value of $43.49 per share. One-third of these awards will vest on each anniversary of the grant date over the next three years. During fiscal 2016, the Company granted 69,950 shares of restricted stock (which are equity classified), to certain executive officers, with a grant date weighted average fair value of $28.11 per share. 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 June 30, 2016 , no Group B awards remain unforfeited and outstanding. Group B awards would have vested as follows, if the Company achieved 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% The Company determined that the earnings per share targets associated with the Group B stock awards were not achievable during the measurement period which ends on March 31, 2017. Subsequently, the Compensation and Stock Option Committee of the Board of Directors amended the awards allowing 25% of the Group B awards to vest for certain officers. The officers were required to forfeit their remaining Group B shares as a part of the amendment. FASB Topic ASC 718 defines a grant modification as a change in any of the terms or conditions of a stock-based compensation award to include accelerated vesting. The Company determined that since the Group B awards would not have otherwise vested pre-modification, the accelerated vesting qualified as a Type III modification. The Company released approximately $9.7 million of compensation expense, including $2.9 million related to the Type III modification, during the year ended March 31, 2016 associated with the Group B awards. 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 $0.2 million and a net reduction in compensation expense of $3.4 million for the three months ended June 30, 2016 and 2015 , respectively, which is included as a component of general and administrative expenses in the Company’s Consolidated Statements of Operations. As of June 30, 2016 , there was approximately $1.2 million of unrecognized compensation cost related to unvested restricted stock awards, which is expected to be recognized over the next 2.3 years based on current estimates. A summary of the status of the Company’s restricted stock as of June 30, 2016 , and changes during the three months ended June 30, 2016 , are presented below: Shares Weighted Average Fair Value at Grant Date Outstanding at March 31, 2016 93,550 $ 40.92 Granted during the period 2,400 43.49 Vested during the period — — Forfeited during the period (32,150 ) 65.06 Outstanding at June 30, 2016 63,800 $ 28.85 Total share-based compensation included as a component of net income during the three month periods ended June 30, 2016 and 2015 was as follows: Three months ended June 30, 2016 2015 Share-based compensation related to equity classified awards: Share-based compensation related to stock options 365,664 1,276,961 Share-based compensation related to restricted stock, net of adjustments and exclusive of cancellations 187,862 (3,409,820 ) Total share-based compensation related to equity classified awards 553,526 (2,132,859 )

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Jun. 30, 2016
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. There were no acquisitions during the three months ended June 30, 2016 and 2015. 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. 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	3 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
DEBT	DEBT At June 30, 2016 the Company's notes payable consist of a $500.0 million senior revolving credit facility with borrowings of $360.4 million outstanding and $1.5 million standby letters of credit related to workers compensation and surety bonds outstanding. 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 June 30, 2016 , and they expire on December 31, 2016. The Letters of Credit are automatically extended for one year on the expiration date. 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 three months ended June 30, 2016 and fiscal year ended March 31, 2016 , the Company’s effective interest rate, including the commitment fee, was 6.0% and 5.6% , respectively, and the unused amount available under the revolver at June 30, 2016 was $138.1 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 . In July 2016, the credit facility was amended to, among other things, extend the term through June 15, 2018 and reduce the aggregate commitments to $460.0 million. The aggregate commitments will reduce from $460.0 million to $370.0 million on March 31, 2017. The amended facility has an accordion feature pursuant to which the Company may request an increase in the aggregate amount of the commitments under the revolving credit facility, provided that the aggregate amount of the commitments will not exceed $500.0 million. 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	3 Months Ended
	Jun. 30, 2016
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, 2016 , the Company has determined that approximately $1.4 million of cumulative undistributed net earnings of SWAC and approximately $20.0 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. At June 30, 2016 , there was an unrecognized taxable temporary difference in the amount of $2.6 million related to investment in the Mexican subsidiaries. As of June 30, 2016 and March 31, 2016 , the Company had $11.0 million and $10.7 million , respectively, of total gross unrecognized tax benefits including interest. Approximately $8.4 million and $8.2 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, 2016 , approximately $5.7 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, 2016 , the Company had approximately $1.4 million accrued for gross interest, of which $130,118 was a current period-end expense for the three months ended June 30, 2016 . The Company is subject to U.S. and Mexican income taxes, as well as various other state and local jurisdictions. With the exception of a few states, 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 2011, although carryforward attributes that were generated prior to 2011 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 decreased slightly to 37.4% for the quarter ended June 30, 2016 compared to 37.7% for the prior year quarter.

LITIGATION

LITIGATION	3 Months Ended
	Jun. 30, 2016
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) (the "Edna Epstein Putative Class Action"), 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. Two amended complaints have been filed by the plaintiffs, and several other motions have been filed in the proceedings. The complaint, as currently amended, alleges that (i) 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 (ii) 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 and (iii) additional allegations regarding, among other things, the Company's receipt of a Notice and Opportunity to Respond and Advise letter from the CFPB on August 7, 2015. The complaint seeks class certification for a class consisting of all persons who purchased or otherwise acquired the Company's common stock between January 30, 2013 and August 10, 2015, unspecified monetary damages, costs and attorneys' fees. The Company believes the complaint is without merit. On November 16, 2015, the Lead Plaintiff filed a motion seeking to certify the action as a class action. The time for the Company to respond to the Lead Plaintiff’s motion for class certification has not yet expired. On January 29, 2016, defendants moved to dismiss the second amended complaint. The Lead Plaintiff has filed a response in opposition, the Company filed a reply in further support of its motion to dismiss, and the Company’s motion to dismiss is currently pending before the Court. 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 its 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 its 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). The plaintiffs subsequently filed an amended consolidated complaint, and the amended 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; (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; and (ix) allegations similar to those made in connection with the Edna Epstein Putative Class Action described above. The amended 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. The defendants filed motions to dismiss the amended consolidated complaint on April 13, 2016. The plaintiffs filed responses in opposition, the defendants filed replies in further support of their motions to dismiss, and the defendants’ motions to dismiss the amended consolidated complaint are currently pending before the Court. 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)	3 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 11 – SUBSEQUENT EVENTS Tenth Amendment to Amended and Restated Revolving Credit Facility On July 12, 2016, World Acceptance Corporation (the “Company”) entered into a tenth amendment (the “Tenth Amendment”) to the Amended and Restated Revolving Credit Agreement, originally dated as of September 17, 2010 (as cumulatively amended, the “Revolving Credit Agreement”), among the Company, the lenders named therein, and Wells Fargo Bank, National Association (“Wells Fargo”), as successor Administrative Agent and successor Collateral Agent. The credit facility was amended to, among other things, extend the term through June 15, 2018 and reduce the aggregate commitments to $460 million. The aggregate commitments will reduce from $460.0 million to $370.0 million on March 31, 2017. The amended facility has an accordion feature pursuant to which the Company may request an increase in the aggregate amount of the commitments under the revolving credit facility, provided that the aggregate amount of the commitments will not exceed $500 million.

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Jun. 30, 2016
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: June 30, 2016 March 31, 2016 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value ASSETS Level 1 inputs Cash and cash equivalents $ 10,123,775 $ 10,123,775 $ 12,377,024 $ 12,377,024 Level 3 inputs Loans receivable, net 713,417,116 713,417,116 706,739,376 706,739,376 LIABILITIES Level 3 inputs Senior notes payable 360,360,000 360,360,000 374,685,000 374,685,000

ALLOWANCE FOR LOAN LOSSES (Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	3 Months Ended
	Jun. 30, 2016
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, 2016 2015 Balance at beginning of period $ 69,565,804 70,437,988 Provision for loan losses 32,014,277 26,228,009 Loan losses (32,694,842 ) (29,875,432 ) Recoveries (1) 3,722,398 5,374,848 Translation adjustment (614,577 ) (205,444 ) Balance at end of period $ 71,993,060 71,959,969
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, 2016 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,849,868 — 4,849,868 Gross loans contractually delinquent 46,926,272 — 46,926,272 Loans not contractually delinquent and not in bankruptcy — 1,035,726,042 1,035,726,042 Gross loan balance 51,776,140 1,035,726,042 1,087,502,182 Unearned interest and fees (12,655,577 ) (289,436,429 ) (302,092,006 ) Net loans 39,120,563 746,289,613 785,410,176 Allowance for loan losses (34,476,814 ) (37,516,246 ) (71,993,060 ) Loans, net of allowance for loan losses $ 4,643,749 708,773,367 713,417,116 March 31, 2016 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,560,322 — 4,560,322 Gross loans contractually delinquent 46,373,923 — 46,373,923 Loans not contractually delinquent and not in bankruptcy — 1,016,030,097 1,016,030,097 Gross loan balance 50,934,245 1,016,030,097 1,066,964,342 Unearned interest and fees (12,726,898 ) (277,932,264 ) (290,659,162 ) Net loans 38,207,347 738,097,833 776,305,180 Allowance for loan losses (33,840,839 ) (35,724,965 ) (69,565,804 ) Loans, net of allowance for loan losses $ 4,366,508 702,372,868 706,739,376 June 30, 2015 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,692,823 — 4,692,823 Gross loans contractually delinquent 47,139,095 — 47,139,095 Loans not contractually delinquent and not in bankruptcy — 1,098,836,752 1,098,836,752 Gross loan balance 51,831,918 1,098,836,752 1,150,668,670 Unearned interest and fees (12,820,008 ) (301,349,989 ) (314,169,997 ) Net loans 39,011,910 797,486,763 836,498,673 Allowance for loan losses (34,518,532 ) (37,441,437 ) (71,959,969 ) Loans, net of allowance for loan losses $ 4,493,378 760,045,326 764,538,704
Assessment of the credit quality	The following is an assessment of the credit quality for the period indicated: June 30, March 31, June 30, Credit risk Consumer loans- non-bankrupt accounts $ 1,081,650,322 1,061,436,900 1,145,206,726 Consumer loans- bankrupt accounts 5,851,860 5,527,442 5,461,944 Total gross loans $ 1,087,502,182 1,066,964,342 1,150,668,670 Consumer credit exposure Credit risk profile based on payment activity, performing $ 1,011,083,612 991,386,552 1,076,373,327 Contractual non-performing, 60 or more days delinquent (1) 76,418,570 75,577,790 74,295,343 Total gross loans $ 1,087,502,182 1,066,964,342 1,150,668,670 Credit risk profile based on customer type New borrower $ 137,421,921 141,980,629 141,644,702 Former borrower 121,314,533 111,608,375 126,619,807 Refinance 810,003,062 793,913,695 857,726,825 Delinquent refinance 18,762,666 19,461,643 24,677,336 Total gross loans $ 1,087,502,182 1,066,964,342 1,150,668,670
Summary of the past due receivables	The following is a summary of the past due receivables as of: June 30, March 31, June 30, Contractual basis: 30-59 days past due $ 42,599,938 40,094,824 41,190,574 60-89 days past due 27,460,571 27,082,385 24,566,924 90 days or more past due 48,957,999 48,495,405 49,728,419 Total $ 119,018,508 115,672,614 115,485,917 Percentage of period-end gross loans receivable 10.9 % 10.8 % 10.0 %

AVERAGE SHARE INFORMATION (Tabl

AVERAGE SHARE INFORMATION (Tables)	3 Months Ended
	Jun. 30, 2016
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, 2016 2015 Basic: Weighted average common shares outstanding (denominator) 8,721,718 8,588,647 Diluted: Weighted average common shares outstanding 8,721,718 8,588,647 Dilutive potential common shares stock options 48,656 123,313 Weighted average diluted shares outstanding (denominator) 8,770,374 8,711,960

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Jun. 30, 2016
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 June 30, 2016 2015 Dividend Yield —% —% Expected Volatility 56.18% 37.64% Average risk-free rate 1.37% 1.65% Expected Life 5.9 years 6.0 years
Tabular disclosure of performance shares vesting based on EPS targets [Table Text Block]	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% Group B awards would have vested as follows, if the Company achieved 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, 2016 was as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Options outstanding, beginning of period 950,651 $ 67.20 Granted during period 600 41.22 Exercised during period (6,000 ) 27.81 Forfeited during period (30,773 ) 67.52 Expired during period (12,600 ) 70.23 Options outstanding, end of period 901,878 $ 67.39 6.79 $ 2,484,399 Options exercisable, end of period 433,477 $ 68.48 5.78 $ 591,213
Intrinsic value of options exercised	The total intrinsic value of options exercised during the periods ended June 30, 2016 and 2015 was as follows: June 30, June 30, Three months ended $ 87,477 $ 1,953,575
Summary of the status and changes restricted stock	A summary of the status of the Company’s restricted stock as of June 30, 2016 , and changes during the three months ended June 30, 2016 , are presented below: Shares Weighted Average Fair Value at Grant Date Outstanding at March 31, 2016 93,550 $ 40.92 Granted during the period 2,400 43.49 Vested during the period — — Forfeited during the period (32,150 ) 65.06 Outstanding at June 30, 2016 63,800 $ 28.85
Share-based compensation included as a component of net income	Total share-based compensation included as a component of net income during the three month periods ended June 30, 2016 and 2015 was as follows: Three months ended June 30, 2016 2015 Share-based compensation related to equity classified awards: Share-based compensation related to stock options 365,664 1,276,961 Share-based compensation related to restricted stock, net of adjustments and exclusive of cancellations 187,862 (3,409,820 ) Total share-based compensation related to equity classified awards 553,526 (2,132,859 )

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Jun. 30, 2016
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. There were no acquisitions during the three months ended June 30, 2016 and 2015. 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. 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]

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($)	3 Months Ended
	Jun. 30, 2016	Mar. 31, 2016
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	$ 360,360,000	$ 374,685,000
Reported Value Measurement [Member] | Senior notes payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes payable	360,360,000	374,685,000
Estimate of Fair Value Measurement [Member] | Senior notes payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes payable	360,360,000	374,685,000
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	10,123,775	12,377,024
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	10,123,775	12,377,024
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Receivables, Fair Value Disclosure	713,417,116	706,739,376
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	$ 713,417,116	$ 706,739,376

RECEIVABLES AND ALLOWANCE FOR L

RECEIVABLES AND ALLOWANCE FOR LOAN LOSSES (Details) - USD ($)	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015
Financing Receivable, Impaired [Line Items]
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	$ 38,700,000	$ 39,500,000
Allowance for Loan Losses [Roll Forward]
Balance at beginning of period	69,565,804	70,437,988
Provision for loan losses	32,014,277	26,228,009
Loan losses	(32,694,842)	(29,875,432)
Recoveries	3,722,398	5,374,848
Translation adjustment	(614,577)	(205,444)
Balance at end of period	71,993,060	71,959,969
Summary of loans individually and collectively evaluated for impairment [Abstract]
Bankruptcy, gross loans			$ 4,849,868	$ 4,560,322	$ 4,692,823
91 days or more delinquent, excluding bankruptcy			46,926,272	46,373,923	47,139,095
Loans less than 91 days delinquent and not in bankruptcy			1,035,726,042	1,016,030,097	1,098,836,752
Loans and Leases Receivable, Gross			1,087,502,182	1,066,964,342	1,150,668,670
Unearned interest and fees			(302,092,006)	(290,659,162)	(314,169,997)
Net loans			785,410,176	776,305,180	836,498,673
Allowance for loan losses	(69,565,804)	(70,437,988)	(71,993,060)	(69,565,804)	(71,959,969)
Loans receivable, net			713,417,116	706,739,376	764,538,704
Loans individually evaluated for impairment (impaired loans) [Member]
Allowance for Loan Losses [Roll Forward]
Balance at beginning of period	33,840,839
Balance at end of period	34,476,814	34,518,532
Summary of loans individually and collectively evaluated for impairment [Abstract]
Bankruptcy, gross loans			4,849,868	4,560,322	4,692,823
91 days or more delinquent, excluding bankruptcy			46,926,272	46,373,923	47,139,095
Loans less than 91 days delinquent and not in bankruptcy			0	0	0
Loans and Leases Receivable, Gross			51,776,140	50,934,245	51,831,918
Unearned interest and fees			(12,655,577)	(12,726,898)	(12,820,008)
Net loans			39,120,563	38,207,347	39,011,910
Allowance for loan losses	(33,840,839)	(34,518,532)	(34,476,814)	(33,840,839)	(34,518,532)
Loans receivable, net			4,643,749	4,366,508	4,493,378
Loans collectively evaluated for impairment [Member]
Allowance for Loan Losses [Roll Forward]
Balance at beginning of period	35,724,965
Balance at end of period	37,516,246	37,441,437
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			1,035,726,042	1,016,030,097	1,098,836,752
Loans and Leases Receivable, Gross			1,035,726,042	1,016,030,097	1,098,836,752
Unearned interest and fees			(289,436,429)	(277,932,264)	(301,349,989)
Net loans			746,289,613	738,097,833	797,486,763
Allowance for loan losses	$ (35,724,965)	$ (37,441,437)	(37,516,246)	(35,724,965)	(37,441,437)
Loans receivable, net			$ 708,773,367	$ 702,372,868	$ 760,045,326

ALLOWANCE FOR LOAN LOSSES (Asse

ALLOWANCE FOR LOAN LOSSES (Assessment of Credit Quality) (Details) - USD ($)	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	$ 1,087,502,182	$ 1,066,964,342	$ 1,150,668,670
Consumer loans- non-bankrupt accounts [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	1,081,650,322	1,061,436,900	1,145,206,726
Consumer loans- bankrupt accounts [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	5,851,860	5,527,442	5,461,944
Performing Financing Receivable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	1,011,083,612	991,386,552	1,076,373,327
Nonperforming Financial Instruments [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	76,418,570	75,577,790	74,295,343
New borrower [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	137,421,921	141,980,629	141,644,702
Former borrower [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	121,314,533	111,608,375	126,619,807
Refinance [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	810,003,062	793,913,695	857,726,825
Delinquent refinance [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	$ 18,762,666	$ 19,461,643	$ 24,677,336

ALLOWANCE FOR LOAN LOSSES (Summ

ALLOWANCE FOR LOAN LOSSES (Summary of Past Due Receivables) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Mar. 31, 2016	Mar. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans and Leases Receivable, Allowance	$ (71,993,060)	$ (71,959,969)	$ (69,565,804)	$ (70,437,988)
Financing Receivable, Bankruptcy	4,849,868	4,692,823	$ 4,560,322
Financing Receivable, Recorded Investment, Past Due	$ 119,018,508
Financing Receivable, Percent Past Due	10.90%		10.80%
Financing Receivables, Delinquent, excluding bankruptcy	$ 46,926,272	47,139,095	$ 46,373,923
Financing Receivables Less Than Ninety One Days Delinquent Excluding Bankruptcy	1,035,726,042	1,098,836,752	1,016,030,097
Loans and Leases Receivable, Gross	1,087,502,182	1,150,668,670	1,066,964,342
Financing Receivable Individually Evaluated for Impairment Unearned Interest and Fees	302,092,006	314,169,997	290,659,162
Loans and Leases Receivable, Net of Deferred Income	785,410,176	836,498,673	776,305,180
Loans and Leases Receivable, Net Amount	713,417,116	764,538,704	706,739,376
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	42,599,938		40,094,824
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	27,460,571	24,566,924	27,082,385
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	$ 48,957,999	49,728,419	48,495,405
Contractual basis [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		$ 115,485,917	$ 115,672,614
Financing Receivable, Percent Past Due		10.00%
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		$ 41,190,574

ALLOWANCE FOR LOAN LOSSES Finan

ALLOWANCE FOR LOAN LOSSES Financing Receivables (Details) - USD ($)	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	$ 1,087,502,182	$ 1,066,964,342	$ 1,150,668,670
Small loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	656,868,824	637,826,581	695,861,419
Large loans [Member] [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	429,849,838	427,723,584	448,157,435
Sales finance loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	$ 783,520	$ 1,414,177	$ 6,649,816

AVERAGE SHARE INFORMATION (Deta

AVERAGE SHARE INFORMATION (Details) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Mar. 31, 2016
Basic:
Weighted average common shares outstanding (in shares)	8,721,718	8,588,647
Diluted:
Weighted average common shares outstanding (in shares)	8,721,718	8,588,647
Dilutive potential common shares stock options (in shares)	48,656	123,313
Weighted average diluted shares outstanding (in shares)	8,770,374	8,711,960
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	804,955	415,372
Net Income (Loss) Attributable to Parent	$ 16,617,954	$ 23,632,051	$ 87,395,557
Earnings Per Share, Basic	$ 1.91	$ 2.75
Earnings Per Share, Diluted	$ 1.89	$ 2.71

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Mar. 31, 2016	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	804,955	415,372
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	56.18%	37.64%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.37%	1.65%
Stock Option Plans [Abstract]
Number of shares available for grant (in shares)	514,794
Weighted-average fair value at the grant date	$ 21.64	$ 32.05
Options Activity [Roll Forward]
Exercised (in shares)	(6,000)		(89,403)
Restricted Stock [Abstract]
Grant date fair value (in dollars per share)			$ 28.11
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Grant date fair value (in dollars per share)			$ 28.11
Compensation related to stock option and restricted stock plans	$ 553,526	$ (3,696,045)
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	5 years 10 months 24 days	6 years
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 Options Plans [Member]
Stock Option Plans [Abstract]
Shares of authorized common stock reserved for issuance (in shares)	4,100,000
Options Activity [Roll Forward]
Options outstanding, beginning of year (in shares)	950,651
Granted (in shares)	600
Exercised (in shares)	(6,000)
Forfeited (in shares)	(30,773)
Expired (in shares)	(12,600)
Options outstanding, end of period (in shares)	901,878		950,651
Options exercisable, end of period (in shares)	433,477
Weighted Average Exercise Price [Roll Forward]
Options outstanding, beginning of year (in dollars per share)	$ 67.20
Granted (in dollars per share)	41.22
Exercised (in dollars per share)	27.81
Forfeited (in dollars per share)	67.52
Expired (in dollars per share)	70.23
Options outstanding, end of period (in dollars per share)	67.39		$ 67.20
Options exercisable, end of period (in dollars per share)	$ 68.48
Stock Option Activity Additional Disclosures [Abstract]
Weighted-average remaining contractual term, Options outstanding, end of period	6 years 9 months 15 days
Weighted-average remaining contractual terms, Options exercisable, end of period	5 years 9 months 11 days
Aggregate intrinsic value, Options outstanding, end of period	$ 2,484,399
Aggregate intrinsic value, Options exercisable, end of period	591,213
Intrinsic value of options exercised	87,477	$ 1,953,575
Compensation Cost Not yet Recognized [Abstract]
Total unrecognized stock-based compensation expense related to non-vested stock options	$ 8,400,000
Weighted average period for recognition	2 years 2 months 27 days
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Weighted average period for recognition	2 years 2 months 27 days
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Compensation related to stock option and restricted stock plans	$ 365,664	1,276,961
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			69,950
Restricted Stock [Abstract]
Grant date fair value (in dollars per share)	$ 43.49
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	$ 1,200,000
Summary of the status and changes in restricted stock [Roll Forward]
Outstanding at Beginning of Year (in shares)	93,550
Awards granted (in shares)	2,400
Vested during the period, net of cancellations (in shares)	0
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited	(32,150)
Outstanding at End of Period (in shares)	63,800		93,550
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at March 31, 2012 (in dollars per share)	$ 40.92
Grant date fair value (in dollars per share)	43.49
Vested during the period, net of cancellations (in dollars per share)	0
Cancelled during the period (in dollars per share)	65.06
Outstanding at June 30, 2012 (in dollars per share)	$ 28.85		$ 40.92
Compensation related to stock option and restricted stock plans	$ 200,000	(3,400,000)
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	$ 553,526	$ (2,132,859)
Performance Shares [Member]
Compensation Cost Not yet Recognized [Abstract]
Weighted average period for recognition	2 years 4 months 2 days
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Weighted average period for recognition	2 years 4 months 2 days
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
Minimum [Member] | Stock Options Plans [Member]
Stock Option Plans [Abstract]
Vesting period	3 years

ACQUISITIONS (Details)

ACQUISITIONS (Details)	3 Months Ended
	Jun. 30, 2016
Business Acquisition [Line Items]
Loans and Leases Receivable, Average Loan Period	8 months

DEBT (Details)

DEBT (Details) - USD ($)	3 Months Ended
	Jun. 30, 2016	Mar. 31, 2016
Line of Credit Facility [Line Items]
Letters of Credit Outstanding, Amount	$ 1,500,000
Line of Credit Facility, Interest Rate at Period End	6.00%	5.60%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 500,000,000
Amount outstanding	$ 360,400,000
Reference rate	LIBOR
Basis spread on variable rate (in hundredths)	4.00%
Unused amount available	$ 138,100,000
Commitment fee percentage (in hundredths)	0.50%
Expiration date	Jun. 15, 2017
Minimum [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt instrument interest rate, minimum (in hundredths)	5.00%

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended
	Jun. 30, 2016USD ($)foreign_subsidiary	Jun. 30, 2015	Mar. 31, 2016USD ($)
Income Tax Contingency [Line Items]
Number of foreign subsidiaries required to be assessed | foreign_subsidiary	2
Cumulative undistributed net earnings permanently reinvested in Mexican foreign subsidiaries	$ 1,400,000
Total gross unrecognized tax benefits including interest	11,000,000		$ 10,700,000
Unrecognized tax benefits that are permanent in nature and, if recognized, would affect the annual effective tax rate	8,400,000		$ 8,200,000
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	5,700,000
Accrued gross interest	1,442,246
Current period gross interest expense	$ 130,118
Effective Income Tax Rate Reconciliation, Percent	37.40%	37.70%
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	$ 20,000,000