World Acceptance (WRLD) 10-Q 4 Nov 16 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2016	Oct. 28, 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		8,866,668
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2016	Mar. 31, 2016
ASSETS
Cash and cash equivalents	$ 16,255,288	$ 12,377,024
Loans and Leases Receivable, Gross	1,095,577,375	1,066,964,342
Less:
Financing Receivable Individually Evaluated for Impairment Unearned Interest and Fees	305,079,767	290,659,162
Unearned interest, insurance and fees	(305,079,767)	(290,659,162)
Allowance for loan losses	(76,421,311)	(69,565,804)
Loans receivable, net	714,076,297	706,739,376
Property and equipment, net	23,898,428	25,296,913
Deferred income taxes	41,890,996	38,130,982
Other assets, net	12,513,517	14,636,573
Goodwill	6,067,220	6,121,458
Intangible assets, net	2,696,588	2,916,537
Total assets	817,398,334	806,218,863
Liabilities:
Senior notes payable	360,586,200	374,685,000
Income taxes payable	10,114,291	8,258,642
Accounts payable and accrued expenses	28,881,662	31,373,640
Total liabilities	399,582,153	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	140,180,792	138,835,064
Retained earnings	308,110,281	276,000,862
Accumulated other comprehensive loss	(30,474,892)	(22,934,345)
Total shareholders' equity	417,816,181	391,901,581
Total liabilities and shareholders' equity	$ 817,398,334	$ 806,218,863

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 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)	8,792,680	8,812,250
Common stock, shares outstanding (in shares)	8,792,680	8,812,250

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Interest and fee income	$ 116,979,595	$ 123,964,361	$ 231,024,402	$ 246,802,933
Insurance commissions and other income	12,289,381	12,447,487	25,324,670	26,833,697
Total revenues	129,268,976	136,411,848	256,349,072	273,636,630
Expenses:
Provision for loan losses	35,870,744	37,557,136	67,885,021	63,785,145
General and administrative expenses:
Personnel	40,400,621	39,444,564	82,396,478	82,664,309
Occupancy and equipment	10,630,945	12,030,356	21,133,100	22,423,091
Advertising	4,092,610	3,411,428	6,443,755	6,579,541
Amortization of intangible assets	164,132	135,734	274,187	276,023
Other	8,167,480	8,414,180	16,156,773	19,061,339
Total general and administrative expenses	63,455,788	63,436,262	126,404,293	131,004,303
Interest expense	5,518,878	7,269,200	11,105,197	12,741,196
Total expenses	104,845,410	108,262,598	205,394,511	207,530,644
Income before income taxes	24,423,566	28,149,250	50,954,561	66,105,986
Income taxes	8,932,101	8,962,847	18,845,142	23,287,532
Net income	$ 15,491,465	$ 19,186,403	$ 32,109,419	$ 42,818,454
Net income per common share:
Basic (in dollars per share)	$ 1.78	$ 2.23	$ 3.68	$ 4.98
Diluted (in dollars per share)	$ 1.76	$ 2.22	$ 3.65	$ 4.93
Weighted average common shares outstanding:
Basic (in shares)	8,727,238	8,621,388	8,724,493	8,605,107
Diluted (in shares)	8,804,584	8,648,624	8,787,495	8,680,382

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net income	$ 15,491,465	$ 19,186,403	$ 32,109,419	$ 42,818,454
Foreign currency translation adjustments	(3,248,426)	(5,561,964)	(7,540,547)	(7,385,740)
Comprehensive income	$ 12,243,039	$ 13,624,439	$ 24,568,872	$ 35,432,714

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	(60,560)	(60,560)
Issuance of restricted common stock under stock option plan	423,868	423,868
Stock option expense	982,420	982,420
Other comprehensive income	(7,540,547)			(7,540,547)
Net income	32,109,419		32,109,419
Balances at Sep. 30, 2016	$ 417,816,181	$ 140,180,792	$ 308,110,281	$ (30,474,892)

CONSOLIDATED STATEMENTS OF SHA7

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($)	6 Months Ended	12 Months Ended
	Sep. 30, 2016	Mar. 31, 2016
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Proceeds from exercise of stock options (in shares)	10,180	89,403
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	$ (405,693)
Proceeds from exercise of stock options, tax benefits		$ 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 ($)	6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flow from operating activities:
Net income	$ 32,109,419	$ 42,818,454
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets	274,187	276,023
Amortization of loan costs and discounts	1,286,147	964,354
Provision for loan losses	67,885,021	63,785,145
Depreciation	3,427,799	3,256,822
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	114,527	1,367,394
Deferred income tax benefit	(4,457,510)	(1,817,232)
Compensation related to stock option and restricted stock plans	1,406,288	(6,736,712)
Gain (Loss) on Sales of Consumer Loans	0	(587,568)
Change in accounts:
Other assets, net	2,538,232	2,625,811
Income taxes payable	1,961,603	(16,627,033)
Accounts payable and accrued expenses	(3,812,136)	(5,034,829)
Net cash provided by operating activities	102,733,577	84,290,629
Cash flows from investing activities:
Increase in loans receivable, net	(81,447,989)	(91,153,672)
Proceeds from Sale of Loans Receivable	0	(961,674)
Purchases of property and equipment	(3,178,087)	(3,167,632)
Proceeds from Sale of Property, Plant, and Equipment	581,081	685,697
Net cash used in investing activities	(84,044,995)	(94,770,909)
Cash flow from financing activities:
Borrowings from senior notes payable	124,301,200	156,045,000
Payments on senior notes payable	(138,400,000)	(167,610,000)
Proceeds from exercise of stock options	345,133	2,339,314
Payments of Loan Costs	(201,200)	(5,500,000)
Excess tax benefits from exercise of stock options	(405,693)	236,159
Net cash provided by financing activities	(14,360,560)	(14,489,527)
Increase in cash and cash equivalents	3,878,264	(25,780,985)
Effects of foreign currency fluctuations on cash	(449,758)	(811,178)
Cash and cash equivalents at beginning of period	12,377,024	38,338,935
Cash and cash equivalents at end of period	16,255,288	12,557,950
Interest Paid	9,744,973	11,291,767
Income Taxes Paid	21,747,421	41,502,850
Net assets acquired from acquisition primarily loans	0	(92,097)
Net Assets Acquired from Acquisition, Intangibles	$ 0	$ (81,531)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The consolidated financial statements of the Company at September 30, 2016 , and for the three and six months then ended were prepared in accordance with the instructions for Form 10-Q and are unaudited; however, in the opinion of management all adjustments (consisting only of items of a normal, recurring nature) necessary for a fair presentation of the financial position at September 30, 2016 , and the results of operations and cash flows for the periods ended September 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	6 Months Ended
	Sep. 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. Recently Adopted Accounting Standards 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. Recently Issued Accounting Standards Not Yet Adopted Intra-Entity Transfers of Assets Other Than Inventory In October 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2016-16, Intra-Entity Transfers of Assets Other Than Inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This prohibition on recognition is an exception to the principle of comprehensive recognition of current and deferred income taxes in GAAP. The amendments in this Update eliminate the exception for an intra-entity transfer of an asset other than inventory. For public business entities the amendments are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted as of the beginning of an annual reporting period for which financial statements (interim or annual) have not been issued or made available for issuance. We are currently evaluating the impact the adoption of this guidance will have on our consolidated financial statements. Classification of Certain Cash Receipts and Cash Payments In August 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2016-15, Classification of Certain Cash Receipts and Cash Payments. The amendment addresses the following eight specific cash flow issues with the objective of reducing the existing diversity in practice: • Debt Prepayment or Debt Extinguishment Costs • Settlement of Zero-Coupon Debt Instruments or Other Debt Instruments with Coupon Interest Rates That Are Insignificant in Relation to the Effective Interest Rate of the Borrowing • Contingent Consideration Payments Made after a Business Combination • Proceeds from the Settlement of Insurance Claims • Proceeds from the Settlement of Corporate-Owned Life Insurance Policies, including Bank-Owned Life Insurance Policies • Distributions Received from Equity Method Investees • Beneficial Interests in Securitization Transactions • Separately Identifiable Cash Flows and Application of the Predominance Principle For public business entities the amendments are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim 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, the 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. 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. 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. 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. 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. 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. 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. 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. 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	6 Months Ended
	Sep. 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: September 30, 2016 March 31, 2016 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value ASSETS Level 1 inputs Cash and cash equivalents $ 16,255,288 $ 16,255,288 $ 12,377,024 $ 12,377,024 Level 3 inputs Loans receivable, net 714,076,297 714,076,297 706,739,376 706,739,376 LIABILITIES Level 3 inputs Senior notes payable 360,586,200 360,586,200 374,685,000 374,685,000 There were no significant assets or liabilities measured at fair value on a non-recurring basis as of September 30, 2016 or March 31, 2016 .

ALLOWANCE FOR LOAN LOSSES

ALLOWANCE FOR LOAN LOSSES	6 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
ALLOWANCE FOR LOAN LOSSES	ALLOWANCE FOR LOAN LOSSES The following is a summary of gross loans receivable as of: September 30, March 31, September 30, Small loans $ 670,925,676 637,826,581 707,579,913 Large loans 424,299,215 427,723,584 450,900,192 Sales finance receivables (1) 352,484 1,414,177 4,356,239 Total gross loans $ 1,095,577,375 1,066,964,342 1,162,836,344 (1) The Company decided to wind down the World Class Buying Club program during the third quarter of fiscal 2015. As of March 31, 2015, the Company is no longer financing the purchase of products through the program; however, the Company will continue to service the outstanding retail installment sales contracts. The following is a summary of the changes in the allowance for loan losses for the periods indicated: Three months ended September 30, Six months ended September 30, 2016 2015 2016 2015 Balance at beginning of period $ 71,993,060 71,959,969 $ 69,565,804 70,437,988 Provision for loan losses 35,870,744 37,557,136 67,885,021 63,785,145 Loan losses (34,724,133 ) (32,452,762 ) (67,418,975 ) (62,328,194 ) Recoveries (1) 3,743,900 3,890,945 7,466,298 9,265,793 Translation adjustment (462,260 ) (637,575 ) (1,076,837 ) (843,019 ) Balance at end of period $ 76,421,311 80,317,713 $ 76,421,311 80,317,713 (1) Recoveries during the three and six months ended September 30, 2015 included $0.3 million and $2.1 million, respectively, 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: September 30, 2016 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 5,438,380 — 5,438,380 Gross loans contractually delinquent 50,928,815 — 50,928,815 Loans not contractually delinquent and not in bankruptcy — 1,039,210,180 1,039,210,180 Gross loan balance 56,367,195 1,039,210,180 1,095,577,375 Unearned interest and fees (13,587,281 ) (291,492,486 ) (305,079,767 ) Net loans 42,779,914 747,717,694 790,497,608 Allowance for loan losses (37,572,665 ) (38,848,646 ) (76,421,311 ) Loans, net of allowance for loan losses $ 5,207,249 708,869,048 714,076,297 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 September 30, 2015 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 5,815,451 — 5,815,451 Gross loans contractually delinquent 50,367,100 — 50,367,100 Loans not contractually delinquent and not in bankruptcy — 1,106,653,793 1,106,653,793 Gross loan balance 56,182,551 1,106,653,793 1,162,836,344 Unearned interest and fees (13,690,473 ) (304,787,151 ) (318,477,624 ) Net loans 42,492,078 801,866,642 844,358,720 Allowance for loan losses (36,923,783 ) (43,393,930 ) (80,317,713 ) Loans, net of allowance for loan losses $ 5,568,295 758,472,712 764,041,007 The average net balance of impaired loans was $40.0 million and $40.5 million , respectively, for the six month periods ended September 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: September 30, March 31, September 30, Credit risk Consumer loans- non-bankrupt accounts $ 1,088,922,796 1,061,436,900 1,156,214,553 Consumer loans- bankrupt accounts 6,654,579 5,527,442 6,621,791 Total gross loans $ 1,095,577,375 1,066,964,342 1,162,836,344 Consumer credit exposure Credit risk profile based on payment activity, performing $ 1,011,545,342 991,386,552 1,080,978,309 Contractual non-performing, 60 or more days delinquent (1) 84,032,033 75,577,790 81,858,035 Total gross loans $ 1,095,577,375 1,066,964,342 1,162,836,344 Credit risk profile based on customer type New borrower $ 153,288,845 141,980,629 146,616,695 Former borrower 124,276,487 111,608,375 135,980,288 Refinance 799,560,573 793,913,695 854,893,667 Delinquent refinance 18,451,470 19,461,643 25,345,694 Total gross loans $ 1,095,577,375 1,066,964,342 1,162,836,344 (1) Loans in non-accrual status The following is a summary of the past due receivables as of: September 30, March 31, September 30, Contractual basis: 30-59 days past due $ 45,155,834 40,094,824 46,898,071 60-89 days past due 29,323,326 27,082,385 28,639,336 90 days or more past due 54,708,707 48,495,405 53,218,699 Total $ 129,187,867 115,672,614 128,756,106 Percentage of period-end gross loans receivable 11.8 % 10.8 % 11.1 %

AVERAGE SHARE INFORMATION

AVERAGE SHARE INFORMATION	6 Months Ended
	Sep. 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 September 30, Six months ended September 30, 2016 2015 2016 2015 Basic: Weighted average common shares outstanding (denominator) 8,727,238 8,621,388 8,724,493 8,605,107 Diluted: Weighted average common shares outstanding 8,727,238 8,621,388 8,724,493 8,605,107 Dilutive potential common shares stock options 77,346 27,236 63,002 75,275 Weighted average diluted shares outstanding (denominator) 8,804,584 8,648,624 8,787,495 8,680,382 Options to purchase 935,480 and 933,626 shares of common stock at various prices were outstanding during the three months ended September 30, 2016 and 2015 respectively, but were not included in the computation of diluted EPS because the option exercise price was anti-dilutive. Options to purchase 1,021,127 and 877,081 shares of common stock at various prices were outstanding during the six months ended September 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	6 Months Ended
	Sep. 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 September 30, 2016 , there were a total of 541,085 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. There were no options issued during the three months ended September 30, 2016 and 2015 . The weighted-average fair value at the grant date for options issued during the six months ended September 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 September 30, Six months ended September 30, 2016 2015 2016 2015 Dividend Yield —% —% —% —% Expected Volatility —% —% 56.18% 37.64% Average risk-free rate —% —% 1.37% 1.65% Expected Life 0.0 years 0.0 years 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 six months ended September 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 (10,180 ) 33.90 Forfeited during period (42,087 ) 65.12 Expired during period (27,697 ) 70.93 Options outstanding, end of period 871,287 $ 67.56 6.63 $ 2,980,055 Options exercisable, end of period 414,200 $ 68.63 5.71 $ 828,611 The aggregate intrinsic value reflected in the table above represents the total pre-tax intrinsic value (the difference between the closing stock price on September 30, 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 September 30, 2016 . This amount will change as the stock’s market price changes. The total intrinsic value of options exercised during the periods ended September 30, 2016 and 2015 was as follows: September 30, September 30, Three months ended $ 24,916 $ — Six months ended $ 112,393 $ 1,953,575 As of September 30, 2016 , total unrecognized stock-based compensation expense related to non-vested stock options amounted to approximately $7.5 million , which is expected to be recognized over a weighted-average period of approximately 2.0 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 this award 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 September 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 $3.0 million for the three months ended September 30, 2016 and 2015 , respectively, and recognized $0.4 million and a net reduction in compensation expense of $6.4 million for the six months ended September 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 September 30, 2016 , there was approximately $1.0 million of unrecognized compensation cost related to unvested restricted stock awards, which is expected to be recognized over the next 2.1 years based on current estimates. A summary of the status of the Company’s restricted stock as of September 30, 2016 , and changes during the six months ended September 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 September 30, 2016 63,800 $ 28.85 Total share-based compensation included as a component of net income during the three and six month periods ended September 30, 2016 and 2015 was as follows: Three months ended September 30, Six months ended September 30, 2016 2015 2016 2015 Share-based compensation related to equity classified awards: Share-based compensation related to stock options $ 616,756 230,569 982,420 1,507,530 Share-based compensation related to restricted stock, net of adjustments and exclusive of cancellations 236,006 (2,986,173 ) 423,868 (6,395,993 ) Total share-based compensation related to equity classified awards $ 852,762 (2,755,604 ) 1,406,288 (4,888,463 )

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Sep. 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 six months ended September 30, 2016. The following table sets forth the acquisition activity of the Company for the six months ended September 30, 2015. 2015 Number of business combinations — Number of asset purchases 1 Total acquisitions 1 Purchase Price 173,628 Tangible assets: Net loans 92,097 Furniture, fixtures & equipment — 92,097 Excess of purchase prices over carrying value of net tangible assets 81,531 Customer lists 76,531 Non-compete agreements 5,000 Goodwill — 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	6 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
DEBT	DEBT At September 30, 2016 the Company's notes payable consist of a $460.0 million senior revolving credit facility with borrowings of $360.6 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 September 30, 2016 , and they expire on December 31, 2016. The Letters of Credit are automatically extended for one year on the expiration date. 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. 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 six months ended September 30, 2016 and fiscal year ended March 31, 2016 , the Company’s effective interest rate, including the commitment fee and amortization of debt issuance costs, was 5.9% and 5.6% , respectively, and the unused amount available under the revolver at September 30, 2016 was $97.9 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, 2018 . 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	6 Months Ended
	Sep. 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 September 30, 2016 , the Company has determined that approximately $1.4 million of cumulative undistributed net earnings of SWAC and approximately $21.4 million of cumulative undistributed net earnings of WAC de México, as well as the future net earnings and losses of both foreign subsidiaries, will be permanently reinvested. At September 30, 2016 , there was an unrecognized taxable temporary difference in the amount of $1.8 million related to investment in the Mexican subsidiaries. As of September 30, 2016 and March 31, 2016 , the Company had $11.3 million and $10.7 million , respectively, of total gross unrecognized tax benefits including interest. Approximately $8.6 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 September 30, 2016 , approximately $5.8 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 September 30, 2016 , the Company had approximately $1.6 million accrued for gross interest, of which $260,235 was a current period-end expense for the six months ended September 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 increased to 36.6% for the quarter ended September 30, 2016 compared to 31.8% for the prior year quarter. The increase was primarily due to the decrease in reserves related to a state ruling in favor of the Company and state refund claims in the prior year quarter.

LITIGATION

LITIGATION	6 Months Ended
	Sep. 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 January 29, 2016, the defendants moved to dismiss the complaint. On August 24, 2016, the Court entered an order denying the defendants’ motion to dismiss. On September 28, 2016, 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 October 7, 2016, the defendants filed an answer to the complaint. The parties are presently engaged in discovery. 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)	6 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 11 – SUBSEQUENT EVENTS Management has evaluated subsequent events through the date the financial statements were issued. Management is not aware of any significant events occurring subsequent to the balance sheet date that would have a material effect on the financial statements thereby requiring adjustment or disclosure.

FAIR VALUE (Tables)

FAIR VALUE (Tables)	6 Months Ended
	Sep. 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: September 30, 2016 March 31, 2016 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value ASSETS Level 1 inputs Cash and cash equivalents $ 16,255,288 $ 16,255,288 $ 12,377,024 $ 12,377,024 Level 3 inputs Loans receivable, net 714,076,297 714,076,297 706,739,376 706,739,376 LIABILITIES Level 3 inputs Senior notes payable 360,586,200 360,586,200 374,685,000 374,685,000

ALLOWANCE FOR LOAN LOSSES (Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	6 Months Ended
	Sep. 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 September 30, Six months ended September 30, 2016 2015 2016 2015 Balance at beginning of period $ 71,993,060 71,959,969 $ 69,565,804 70,437,988 Provision for loan losses 35,870,744 37,557,136 67,885,021 63,785,145 Loan losses (34,724,133 ) (32,452,762 ) (67,418,975 ) (62,328,194 ) Recoveries (1) 3,743,900 3,890,945 7,466,298 9,265,793 Translation adjustment (462,260 ) (637,575 ) (1,076,837 ) (843,019 ) Balance at end of period $ 76,421,311 80,317,713 $ 76,421,311 80,317,713
Summary of loans individually and collectively evaluated for impairment	The following is a summary of loans individually and collectively evaluated for impairment for the period indicated: September 30, 2016 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 5,438,380 — 5,438,380 Gross loans contractually delinquent 50,928,815 — 50,928,815 Loans not contractually delinquent and not in bankruptcy — 1,039,210,180 1,039,210,180 Gross loan balance 56,367,195 1,039,210,180 1,095,577,375 Unearned interest and fees (13,587,281 ) (291,492,486 ) (305,079,767 ) Net loans 42,779,914 747,717,694 790,497,608 Allowance for loan losses (37,572,665 ) (38,848,646 ) (76,421,311 ) Loans, net of allowance for loan losses $ 5,207,249 708,869,048 714,076,297 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 September 30, 2015 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 5,815,451 — 5,815,451 Gross loans contractually delinquent 50,367,100 — 50,367,100 Loans not contractually delinquent and not in bankruptcy — 1,106,653,793 1,106,653,793 Gross loan balance 56,182,551 1,106,653,793 1,162,836,344 Unearned interest and fees (13,690,473 ) (304,787,151 ) (318,477,624 ) Net loans 42,492,078 801,866,642 844,358,720 Allowance for loan losses (36,923,783 ) (43,393,930 ) (80,317,713 ) Loans, net of allowance for loan losses $ 5,568,295 758,472,712 764,041,007
Assessment of the credit quality	The following is an assessment of the credit quality for the period indicated: September 30, March 31, September 30, Credit risk Consumer loans- non-bankrupt accounts $ 1,088,922,796 1,061,436,900 1,156,214,553 Consumer loans- bankrupt accounts 6,654,579 5,527,442 6,621,791 Total gross loans $ 1,095,577,375 1,066,964,342 1,162,836,344 Consumer credit exposure Credit risk profile based on payment activity, performing $ 1,011,545,342 991,386,552 1,080,978,309 Contractual non-performing, 60 or more days delinquent (1) 84,032,033 75,577,790 81,858,035 Total gross loans $ 1,095,577,375 1,066,964,342 1,162,836,344 Credit risk profile based on customer type New borrower $ 153,288,845 141,980,629 146,616,695 Former borrower 124,276,487 111,608,375 135,980,288 Refinance 799,560,573 793,913,695 854,893,667 Delinquent refinance 18,451,470 19,461,643 25,345,694 Total gross loans $ 1,095,577,375 1,066,964,342 1,162,836,344
Summary of the past due receivables	The following is a summary of the past due receivables as of: September 30, March 31, September 30, Contractual basis: 30-59 days past due $ 45,155,834 40,094,824 46,898,071 60-89 days past due 29,323,326 27,082,385 28,639,336 90 days or more past due 54,708,707 48,495,405 53,218,699 Total $ 129,187,867 115,672,614 128,756,106 Percentage of period-end gross loans receivable 11.8 % 10.8 % 11.1 %

AVERAGE SHARE INFORMATION (Tabl

AVERAGE SHARE INFORMATION (Tables)	6 Months Ended
	Sep. 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 September 30, Six months ended September 30, 2016 2015 2016 2015 Basic: Weighted average common shares outstanding (denominator) 8,727,238 8,621,388 8,724,493 8,605,107 Diluted: Weighted average common shares outstanding 8,727,238 8,621,388 8,724,493 8,605,107 Dilutive potential common shares stock options 77,346 27,236 63,002 75,275 Weighted average diluted shares outstanding (denominator) 8,804,584 8,648,624 8,787,495 8,680,382

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Sep. 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 September 30, Six months ended September 30, 2016 2015 2016 2015 Dividend Yield —% —% —% —% Expected Volatility —% —% 56.18% 37.64% Average risk-free rate —% —% 1.37% 1.65% Expected Life 0.0 years 0.0 years 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 six months ended September 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 (10,180 ) 33.90 Forfeited during period (42,087 ) 65.12 Expired during period (27,697 ) 70.93 Options outstanding, end of period 871,287 $ 67.56 6.63 $ 2,980,055 Options exercisable, end of period 414,200 $ 68.63 5.71 $ 828,611
Intrinsic value of options exercised	The total intrinsic value of options exercised during the periods ended September 30, 2016 and 2015 was as follows: September 30, September 30, Three months ended $ 24,916 $ — Six months ended $ 112,393 $ 1,953,575
Summary of the status and changes restricted stock	A summary of the status of the Company’s restricted stock as of September 30, 2016 , and changes during the six months ended September 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 September 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 and six month periods ended September 30, 2016 and 2015 was as follows: Three months ended September 30, Six months ended September 30, 2016 2015 2016 2015 Share-based compensation related to equity classified awards: Share-based compensation related to stock options $ 616,756 230,569 982,420 1,507,530 Share-based compensation related to restricted stock, net of adjustments and exclusive of cancellations 236,006 (2,986,173 ) 423,868 (6,395,993 ) Total share-based compensation related to equity classified awards $ 852,762 (2,755,604 ) 1,406,288 (4,888,463 )

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Sep. 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 six months ended September 30, 2016. The following table sets forth the acquisition activity of the Company for the six months ended September 30, 2015. 2015 Number of business combinations — Number of asset purchases 1 Total acquisitions 1 Purchase Price 173,628 Tangible assets: Net loans 92,097 Furniture, fixtures & equipment — 92,097 Excess of purchase prices over carrying value of net tangible assets 81,531 Customer lists 76,531 Non-compete agreements 5,000 Goodwill — 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 ($)	6 Months Ended
	Sep. 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	$ 360,586,200	$ 374,685,000
Reported Value Measurement [Member] | Senior notes payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes payable	360,586,200	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	360,586,200	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	16,255,288	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	16,255,288	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	714,076,297	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	$ 714,076,297	$ 706,739,376

RECEIVABLES AND ALLOWANCE FOR L

RECEIVABLES AND ALLOWANCE FOR LOAN LOSSES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015
Financing Receivable, Impaired [Line Items]
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment			$ 40,000,000	$ 40,500,000
Allowance for Loan Losses [Roll Forward]
Balance at beginning of period	$ 71,993,060	$ 71,959,969	69,565,804	70,437,988
Provision for loan losses	35,870,744	37,557,136	67,885,021	63,785,145
Loan losses	(34,724,133)	(32,452,762)	(67,418,975)	(62,328,194)
Recoveries	3,743,900	3,890,945	7,466,298	9,265,793
Translation adjustment	(462,260)	(637,575)	(1,076,837)	(843,019)
Balance at end of period	76,421,311	80,317,713	76,421,311	80,317,713
Summary of loans individually and collectively evaluated for impairment [Abstract]
Bankruptcy, gross loans					$ 5,438,380	$ 4,560,322	$ 5,815,451
91 days or more delinquent, excluding bankruptcy					50,928,815	46,373,923	50,367,100
Loans less than 91 days delinquent and not in bankruptcy					1,039,210,180	1,016,030,097	1,106,653,793
Loans and Leases Receivable, Gross					1,095,577,375	1,066,964,342	1,162,836,344
Unearned interest and fees					(305,079,767)	(290,659,162)	(318,477,624)
Net loans					790,497,608	776,305,180	844,358,720
Allowance for loan losses	(71,993,060)	(71,959,969)	(69,565,804)	(70,437,988)	(76,421,311)	(69,565,804)	(80,317,713)
Loans receivable, net					714,076,297	706,739,376	764,041,007
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	37,572,665	36,923,783	37,572,665	36,923,783
Summary of loans individually and collectively evaluated for impairment [Abstract]
Bankruptcy, gross loans					5,438,380	4,560,322	5,815,451
91 days or more delinquent, excluding bankruptcy					50,928,815	46,373,923	50,367,100
Loans less than 91 days delinquent and not in bankruptcy					0	0	0
Loans and Leases Receivable, Gross					56,367,195	50,934,245	56,182,551
Unearned interest and fees					(13,587,281)	(12,726,898)	(13,690,473)
Net loans					42,779,914	38,207,347	42,492,078
Allowance for loan losses	(37,572,665)	(36,923,783)	(33,840,839)	(36,923,783)	(37,572,665)	(33,840,839)	(36,923,783)
Loans receivable, net					5,207,249	4,366,508	5,568,295
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	38,848,646	43,393,930	38,848,646	43,393,930
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					1,039,210,180	1,016,030,097	1,106,653,793
Loans and Leases Receivable, Gross					1,039,210,180	1,016,030,097	1,106,653,793
Unearned interest and fees					(291,492,486)	(277,932,264)	(304,787,151)
Net loans					747,717,694	738,097,833	801,866,642
Allowance for loan losses	$ (38,848,646)	$ (43,393,930)	$ (35,724,965)	$ (43,393,930)	(38,848,646)	(35,724,965)	(43,393,930)
Loans receivable, net					$ 708,869,048	$ 702,372,868	$ 758,472,712

ALLOWANCE FOR LOAN LOSSES (Asse

ALLOWANCE FOR LOAN LOSSES (Assessment of Credit Quality) (Details) - USD ($)	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	$ 1,095,577,375	$ 1,066,964,342	$ 1,162,836,344
Consumer loans- non-bankrupt accounts [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	1,088,922,796	1,061,436,900	1,156,214,553
Consumer loans- bankrupt accounts [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	6,654,579	5,527,442	6,621,791
Performing Financing Receivable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	1,011,545,342	991,386,552	1,080,978,309
Nonperforming Financial Instruments [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	84,032,033	75,577,790	81,858,035
New borrower [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	153,288,845	141,980,629	146,616,695
Former borrower [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	124,276,487	111,608,375	135,980,288
Refinance [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	799,560,573	793,913,695	854,893,667
Delinquent refinance [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	$ 18,451,470	$ 19,461,643	$ 25,345,694

ALLOWANCE FOR LOAN LOSSES (Summ

ALLOWANCE FOR LOAN LOSSES (Summary of Past Due Receivables) (Details) - USD ($)	6 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Mar. 31, 2016	Jun. 30, 2016	Jun. 30, 2015	Mar. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans and Leases Receivable, Allowance	$ (76,421,311)	$ (80,317,713)	$ (69,565,804)	$ (71,993,060)	$ (71,959,969)	$ (70,437,988)
Financing Receivable, Bankruptcy	5,438,380	5,815,451	$ 4,560,322
Financing Receivable, Recorded Investment, Past Due	$ 129,187,867
Financing Receivable, Percent Past Due	11.80%		10.80%
Financing Receivables, Delinquent, excluding bankruptcy	$ 50,928,815	50,367,100	$ 46,373,923
Financing Receivables Less Than Ninety One Days Delinquent Excluding Bankruptcy	1,039,210,180	1,106,653,793	1,016,030,097
Loans and Leases Receivable, Gross	1,095,577,375	1,162,836,344	1,066,964,342
Financing Receivable Individually Evaluated for Impairment Unearned Interest and Fees	305,079,767	318,477,624	290,659,162
Loans and Leases Receivable, Net of Deferred Income	790,497,608	844,358,720	776,305,180
Loans and Leases Receivable, Net Amount	714,076,297	764,041,007	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	45,155,834		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	29,323,326	28,639,336	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	$ 54,708,707	53,218,699	48,495,405
Contractual basis [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		$ 128,756,106	$ 115,672,614
Financing Receivable, Percent Past Due		11.10%
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		$ 46,898,071

ALLOWANCE FOR LOAN LOSSES Finan

ALLOWANCE FOR LOAN LOSSES Financing Receivables (Details) - USD ($)	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	$ 1,095,577,375	$ 1,066,964,342	$ 1,162,836,344
Small loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	670,925,676	637,826,581	707,579,913
Large loans [Member] [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	424,299,215	427,723,584	450,900,192
Sales finance loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	$ 352,484	$ 1,414,177	$ 4,356,239

AVERAGE SHARE INFORMATION (Deta

AVERAGE SHARE INFORMATION (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Mar. 31, 2016
Basic:
Weighted average common shares outstanding (in shares)	8,727,238	8,621,388	8,724,493	8,605,107
Diluted:
Weighted average common shares outstanding (in shares)	8,727,238	8,621,388	8,724,493	8,605,107
Dilutive potential common shares stock options (in shares)	77,346	27,236	63,002	75,275
Weighted average diluted shares outstanding (in shares)	8,804,584	8,648,624	8,787,495	8,680,382
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	935,480	933,626	1,021,127	877,081
Net Income (Loss) Attributable to Parent	$ 15,491,465	$ 19,186,403	$ 32,109,419	$ 42,818,454	$ 87,395,557
Earnings Per Share, Basic	$ 1.78	$ 2.23	$ 3.68	$ 4.98
Earnings Per Share, Diluted	$ 1.76	$ 2.22	$ 3.65	$ 4.93

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 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	935,480	933,626	1,021,127	877,081
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	0.00%	0.00%	56.18%	37.64%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	0.00%	0.00%	1.37%	1.65%
Stock Option Plans [Abstract]
Number of shares available for grant (in shares)	541,085		541,085
Weighted-average fair value at the grant date			$ 21.64	$ 32.05
Options Activity [Roll Forward]
Exercised (in shares)			(10,180)		(89,403)
Restricted Stock [Abstract]
Grant date fair value (in dollars per share)			$ 43.49		$ 28.11
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Grant date fair value (in dollars per share)			$ 43.49		$ 28.11
Compensation related to stock option and restricted stock plans			$ 1,406,288	$ (6,736,712)
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	0 days	0 days	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		4,100,000
Options Activity [Roll Forward]
Options outstanding, beginning of year (in shares)			950,651
Granted (in shares)			600
Exercised (in shares)			(10,180)
Forfeited (in shares)			(42,087)
Expired (in shares)			(27,697)
Options outstanding, end of period (in shares)	871,287		871,287		950,651
Options exercisable, end of period (in shares)	414,200		414,200
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)			33.90
Forfeited (in dollars per share)			65.12
Expired (in dollars per share)			70.93
Options outstanding, end of period (in dollars per share)	$ 67.56		67.56		$ 67.20
Options exercisable, end of period (in dollars per share)	$ 68.63		$ 68.63
Stock Option Activity Additional Disclosures [Abstract]
Weighted-average remaining contractual term, Options outstanding, end of period			6 years 7 months 17 days
Weighted-average remaining contractual terms, Options exercisable, end of period			5 years 8 months 16 days
Aggregate intrinsic value, Options outstanding, end of period	$ 2,980,055		$ 2,980,055
Aggregate intrinsic value, Options exercisable, end of period	828,611		828,611
Intrinsic value of options exercised	24,916	$ 0	112,393	$ 1,953,575
Compensation Cost Not yet Recognized [Abstract]
Total unrecognized stock-based compensation expense related to non-vested stock options	7,500,000		$ 7,500,000
Weighted average period for recognition			1 year 11 months 23 days
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Weighted average period for recognition			1 year 11 months 23 days
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Compensation related to stock option and restricted stock plans	616,756	230,569	$ 982,420	1,507,530
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			2,400		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	$ 1,000,000		$ 1,000,000
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		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		$ 28.85		$ 40.92
Compensation related to stock option and restricted stock plans	$ 236,006	(2,986,173)	$ 423,868	(6,395,993)
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
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	$ 852,762	$ (2,755,604)	$ 1,406,288	$ (4,888,463)
Performance Shares [Member]
Compensation Cost Not yet Recognized [Abstract]
Weighted average period for recognition			2 years 1 month 6 days
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Weighted average period for recognition			2 years 1 month 6 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)	6 Months Ended
	Sep. 30, 2016acquisition	Sep. 30, 2014acquisition	Sep. 30, 2015USD ($)
Business Acquisition [Line Items]
Number of Businesses Acquired | acquisition		0
Number Of Offices Purchased and Merged into Existing Offices | acquisition	1
Total acquisitions | acquisition	1
Purchase Price			$ 173,628
Business Combination, Acquired Receivables, Fair Value			92,097
Intangible Assets, Net (Including Goodwill)			81,531
Furniture, fixtures & equipment			0
Total tangible assets			92,097
Finite-Lived Customer Lists, Gross			76,531
Finite-Lived Noncompete Agreements, Gross			5,000
Goodwill, Fair Value Disclosure			$ 0
Loans and Leases Receivable, Average Loan Period	8 months

DEBT (Details)

DEBT (Details) - USD ($)	6 Months Ended
	Sep. 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	5.90%	5.60%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 460,000,000
Amount outstanding	$ 360,600,000
Reference rate	LIBOR
Basis spread on variable rate (in hundredths)	4.00%
Unused amount available	$ 97,900,000
Commitment fee percentage (in hundredths)	0.50%
Expiration date	Jun. 15, 2018
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	6 Months Ended
	Sep. 30, 2016USD ($)foreign_subsidiary	Sep. 30, 2016USD ($)foreign_subsidiary	Sep. 30, 2015	Mar. 31, 2016USD ($)
Income Tax Contingency [Line Items]
Number of foreign subsidiaries required to be assessed | foreign_subsidiary	2	2
Cumulative undistributed net earnings permanently reinvested in Mexican foreign subsidiaries	$ 1,400,000	$ 1,400,000
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries	1,800,000	1,800,000
Total gross unrecognized tax benefits including interest	11,300,000	11,300,000		$ 10,700,000
Unrecognized tax benefits that are permanent in nature and, if recognized, would affect the annual effective tax rate	8,600,000	8,600,000		$ 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	5,800,000	5,800,000
Accrued gross interest	$ 1,572,363	1,572,363
Current period gross interest expense		260,235
Effective Income Tax Rate Reconciliation, Percent	36.60%		31.80%
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	$ 21,400,000	$ 21,400,000