World Acceptance (WRLD) 10-Q 6 Feb 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2016	Jan. 30, 2017
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		8,783,197
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2016

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Dec. 31, 2016	Mar. 31, 2016
ASSETS
Cash and cash equivalents	$ 15,985,659	$ 12,377,024
Loans and Leases Receivable, Gross	1,165,009,015	1,066,964,342
Less:
Financing Receivable Individually Evaluated for Impairment Unearned Interest and Fees	327,308,054	290,659,162
Unearned interest, insurance and fees	(327,308,054)	(290,659,162)
Allowance for loan losses	(81,803,320)	(69,565,804)
Loans receivable, net	755,897,641	706,739,376
Property and equipment, net	23,762,356	25,296,913
Deferred income taxes	43,612,003	38,130,982
Other assets, net	13,024,333	14,636,573
Goodwill	6,067,220	6,121,458
Intangible assets, net	2,588,118	2,916,537
Total assets	860,937,330	806,218,863
Liabilities:
Senior notes payable	397,936,200	374,685,000
Income taxes payable	10,983,930	8,258,642
Accounts payable and accrued expenses	30,026,931	31,373,640
Total liabilities	438,947,061	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	143,337,560	138,835,064
Retained earnings	312,754,505	276,000,862
Accumulated other comprehensive loss	(34,101,796)	(22,934,345)
Total shareholders' equity	421,990,269	391,901,581
Total liabilities and shareholders' equity	$ 860,937,330	$ 806,218,863

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 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)	8,781,817	8,812,250
Common stock, shares outstanding (in shares)	8,781,817	8,812,250

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Revenues:
Interest and fee income	$ 118,257,234	$ 126,869,729	$ 349,281,636	$ 373,672,662
Insurance commissions and other income	12,557,608	12,826,307	37,882,278	39,660,004
Total revenues	130,814,842	139,696,036	387,163,914	413,332,666
Expenses:
Provision for loan losses	39,984,838	35,440,402	107,869,859	99,225,547
General and administrative expenses:
Personnel	42,395,388	42,919,853	124,791,866	125,584,162
Occupancy and equipment	10,517,199	10,546,075	31,650,299	32,969,166
Advertising	8,490,703	7,961,227	14,934,458	14,540,768
Amortization of intangible assets	108,470	131,197	382,657	407,220
Other	9,725,018	10,021,695	25,881,791	29,083,034
Total general and administrative expenses	71,236,778	71,580,047	197,641,071	202,584,350
Interest expense	5,274,436	7,149,385	16,379,633	19,890,581
Total expenses	116,496,052	114,169,834	321,890,563	321,700,478
Income before income taxes	14,318,790	25,526,202	65,273,351	91,632,188
Income taxes	4,678,757	10,774,828	23,523,899	34,062,360
Net income	$ 9,640,033	$ 14,751,374	$ 41,749,452	$ 57,569,828
Net income per common share:
Basic (in dollars per share)	$ 1.11	$ 1.70	$ 4.79	$ 6.68
Diluted (in dollars per share)	$ 1.10	$ 1.70	$ 4.75	$ 6.63
Weighted average common shares outstanding:
Basic (in shares)	8,701,975	8,657,675	8,716,960	8,624,617
Diluted (in shares)	8,782,597	8,694,051	8,785,835	8,686,925

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Net income	$ 9,640,033	$ 14,751,374	$ 41,749,452	$ 57,569,828
Foreign currency translation adjustments	(3,626,904)	(1,075,499)	(11,167,451)	(8,461,239)
Comprehensive income	$ 6,013,129	$ 13,675,875	$ 30,582,001	$ 49,108,589

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	596,519	596,519
Stock Repurchased and Retired During Period, Value			4,995,809
Issuance of restricted common stock under stock option plan	774,217	774,217
Stock option expense	3,131,760	3,131,760
Other comprehensive income	(11,167,451)			(11,167,451)
Net income	41,749,452		41,749,452
Balances at Dec. 31, 2016	$ 421,990,269	$ 143,337,560	$ 312,754,505	$ (34,101,796)

CONSOLIDATED STATEMENTS OF SHA7

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2016	Mar. 31, 2016
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Proceeds from exercise of stock options (in shares)	32,247	89,403
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	$ (514,275)
Proceeds from exercise of stock options, tax benefits		$ 78,382
Common stock repurchases (in shares)	95,703	0
Adjustments Related to Tax Withholding for Share-based Compensation	$ (267,674)	$ (2,289,017)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash flow from operating activities:
Net income	$ 41,749,452	$ 57,569,828
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets	382,657	407,220
Amortization of loan costs and discounts	1,657,933	1,709,126
Provision for loan losses	107,869,859	99,225,547
Depreciation	5,166,492	4,818,984
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	(133,883)	1,364,251
Deferred income tax benefit	(6,525,485)	(4,411,064)
Compensation related to stock option and restricted stock plans	3,905,977	(4,665,702)
Gain (Loss) on Sales of Consumer Loans	0	(1,257,427)
Change in accounts:
Other assets, net	1,545,516	2,356,005
Income taxes payable	2,892,650	(13,575,540)
Accounts payable and accrued expenses	(2,521,296)	(3,098,477)
Net cash provided by operating activities	155,989,872	140,442,751
Cash flows from investing activities:
Increase in loans receivable, net	(166,156,575)	(160,437,858)
Proceeds from Sale of Loans Receivable	0	(231,311)
Purchases of property and equipment	(4,877,639)	(4,887,956)
Proceeds from Sale of Property, Plant, and Equipment	721,906	811,368
Net cash used in investing activities	(170,312,308)	(164,919,385)
Cash flow from financing activities:
Borrowings from senior notes payable	204,051,200	237,495,000
Payments on senior notes payable	(180,800,000)	(226,710,000)
Proceeds from exercise of stock options	1,110,794	2,771,683
Payments of Loan Costs	(201,200)	(5,500,000)
Repurchase of common stock	(4,995,809)	0
Excess tax benefits from exercise of stock options	(514,275)	87,966
Net cash provided by financing activities	18,650,710	8,144,649
Increase in cash and cash equivalents	3,608,635	(17,396,535)
Effects of foreign currency fluctuations on cash	(719,639)	(1,064,550)
Cash and cash equivalents at beginning of period	12,377,024	38,338,935
Cash and cash equivalents at end of period	15,985,659	20,942,400
Interest Paid	14,373,633	17,533,968
Income Taxes Paid	27,673,265	51,964,927
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	9 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The consolidated financial statements of the Company at December 31, 2016 , and for the three and nine 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 December 31, 2016 , and the results of operations and cash flows for the periods ended December 31, 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	9 Months Ended
	Dec. 31, 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 Clarifying the Definition of a Business In January 2017, the Financial Accounting Standards Board issued ASU No. 2017-01, Clarifying the Definition of a Business. Current GAAP does not specify the minimum inputs and processes required for a "set" of assets and activities to meet the definition of a business. That lack of clarity led to broad interpretations of the definition of a business. The amendments in this Update provide a more robust framework to use in determining when a set of assets and activities is a business. For public business entities the amendments are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. We are currently evaluating the impact the adoption of this guidance will have on our consolidated financial statements. Restricted Cash In November 2016, the Financial Accounting Standards Board issued ASU No. 2016-18, Restricted Cash. GAAP currently does not include specific guidance to address how to classify and present changes in restricted cash or restricted cash equivalents that occur when there are transfers between cash, cash equivalents, and restricted cash or restricted cash equivalents and when there are direct cash receipts into restricted cash or restricted cash equivalents or direct cash payments made from restricted cash or restricted cash equivalents. The amendments in this Update require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in this Update do not provide a definition of restricted cash or restricted cash equivalents. 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. Intra-Entity Transfers of Assets Other Than Inventory In October 2016, the Financial Accounting Standards Board issued 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 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 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: Identifying Performance Obligations and Licensing In April 2016, the Financial Accounting Standards Board issued 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. Improvements to Employee Share-Based Payment Accounting In March 2016, the Financial Accounting Standards Board issued 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. Principal versus Agent Considerations (Reporting Revenue Gross versus Net) In March 2016, the Financial Accounting Standards Board issued 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 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 and Measurement of Financial Assets and Financial Liabilities In January 2016, the Financial Accounting Standards Board issued 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 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 and ASU 2016-20, 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	9 Months Ended
	Dec. 31, 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: December 31, 2016 March 31, 2016 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value ASSETS Level 1 inputs Cash and cash equivalents $ 15,985,659 $ 15,985,659 $ 12,377,024 $ 12,377,024 Level 3 inputs Loans receivable, net 755,897,641 755,897,641 706,739,376 706,739,376 LIABILITIES Level 3 inputs Senior notes payable 397,936,200 397,936,200 374,685,000 374,685,000 There were no significant assets or liabilities measured at fair value on a non-recurring basis as of December 31, 2016 or March 31, 2016 .

ALLOWANCE FOR LOAN LOSSES

ALLOWANCE FOR LOAN LOSSES	9 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
ALLOWANCE FOR LOAN LOSSES	ALLOWANCE FOR LOAN LOSSES The following is a summary of gross loans receivable as of: December 31, March 31, December 31, Small loans $ 720,626,086 637,826,581 754,478,231 Large loans 444,231,345 427,723,584 462,085,177 Sales finance receivables (1) 151,584 1,414,177 2,645,958 Total gross loans $ 1,165,009,015 1,066,964,342 1,219,209,366 (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 December 31, Nine months ended December 31, 2016 2015 2016 2015 Balance at beginning of period $ 76,421,311 80,317,713 $ 69,565,804 70,437,988 Provision for loan losses 39,984,838 35,440,402 107,869,859 99,225,547 Loan losses (37,707,592 ) (35,294,084 ) (105,126,567 ) (97,622,277 ) Recoveries (1) 3,674,873 4,131,664 11,141,171 13,397,456 Translation adjustment (570,110 ) (107,101 ) (1,646,947 ) (950,120 ) Balance at end of period $ 81,803,320 84,488,594 $ 81,803,320 84,488,594 (1) Recoveries during the three and nine months ended December 31, 2015 included $0.5 million and $2.7 million, respectively, resulting from the sale of previously charged-off loans. The following is a summary of loans individually and collectively evaluated for impairment for the period indicated: December 31, 2016 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,679,222 — 4,679,222 Gross loans contractually delinquent 58,478,910 — 58,478,910 Loans not contractually delinquent and not in bankruptcy — 1,101,850,883 1,101,850,883 Gross loan balance 63,158,132 1,101,850,883 1,165,009,015 Unearned interest and fees (16,082,976 ) (311,225,078 ) (327,308,054 ) Net loans 47,075,156 790,625,805 837,700,961 Allowance for loan losses (42,594,801 ) (39,208,519 ) (81,803,320 ) Loans, net of allowance for loan losses $ 4,480,355 751,417,286 755,897,641 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 December 31, 2015 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,839,276 — 4,839,276 Gross loans contractually delinquent 56,777,734 — 56,777,734 Loans not contractually delinquent and not in bankruptcy — 1,157,592,356 1,157,592,356 Gross loan balance 61,617,010 1,157,592,356 1,219,209,366 Unearned interest and fees (15,173,459 ) (322,330,549 ) (337,504,008 ) Net loans 46,443,551 835,261,807 881,705,358 Allowance for loan losses (41,809,944 ) (42,678,650 ) (84,488,594 ) Loans, net of allowance for loan losses $ 4,633,607 792,583,157 797,216,764 The average net balance of impaired loans was $41.8 million and $42.0 million , respectively, for the nine month periods ended December 31, 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: December 31, March 31, December 31, Credit risk Consumer loans- non-bankrupt accounts $ 1,159,145,977 1,061,436,900 1,213,286,140 Consumer loans- bankrupt accounts 5,863,038 5,527,442 5,923,226 Total gross loans $ 1,165,009,015 1,066,964,342 1,219,209,366 Consumer credit exposure Credit risk profile based on payment activity, performing $ 1,076,292,160 991,386,552 1,131,348,784 Contractual non-performing, 60 or more days delinquent (1) 88,716,855 75,577,790 87,860,582 Total gross loans $ 1,165,009,015 1,066,964,342 1,219,209,366 Credit risk profile based on customer type New borrower $ 169,425,813 141,980,629 173,506,380 Former borrower 136,401,410 111,608,375 137,261,707 Refinance 839,846,451 793,913,695 884,046,393 Delinquent refinance 19,335,341 19,461,643 24,394,886 Total gross loans $ 1,165,009,015 1,066,964,342 1,219,209,366 (1) Loans in non-accrual status The following is a summary of the past due receivables as of: December 31, March 31, December 31, Contractual basis: 30-59 days past due $ 42,938,440 40,094,824 44,805,260 60-89 days past due 28,231,005 27,082,385 29,428,608 90 days or more past due 60,485,851 48,495,405 58,431,974 Total $ 131,655,296 115,672,614 132,665,842 Percentage of period-end gross loans receivable 11.3 % 10.8 % 10.9 %

AVERAGE SHARE INFORMATION

AVERAGE SHARE INFORMATION	9 Months Ended
	Dec. 31, 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 December 31, Nine months ended December 31, 2016 2015 2016 2015 Basic: Weighted average common shares outstanding (denominator) 8,701,975 8,657,675 8,716,960 8,624,617 Diluted: Weighted average common shares outstanding 8,701,975 8,657,675 8,716,960 8,624,617 Dilutive potential common shares stock options 80,622 36,376 68,875 62,308 Weighted average diluted shares outstanding (denominator) 8,782,597 8,694,051 8,785,835 8,686,925 Options to purchase 853,589 and 848,245 shares of common stock at various prices were outstanding during the three months ended December 31, 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 945,791 and 842,471 shares of common stock at various prices were outstanding during the nine months ended December 31, 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	9 Months Ended
	Dec. 31, 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 option's grant date. At December 31, 2016 , there were a total of 419,463 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 December 31, 2016 and 2015 was $22.25 and $10.28 , respectively. The weighted-average fair value at the grant date for options issued during the nine months ended December 31, 2016 and 2015 was $22.24 and $10.82 , respectively. Fair value was estimated at grant date using the weighted-average assumptions listed below: Three months ended December 31, Nine months ended December 31, 2016 2015 2016 2015 Dividend Yield —% —% —% —% Expected Volatility 48.83% 41.51% 48.90% 41.41% Average risk-free rate 1.19% 1.37% 1.19% 1.38% Expected Life 5.0 years 5.0 years 5.0 years 5.0 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 nine months ended December 31, 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 62,175 51.36 Exercised during period (32,247 ) 34.45 Forfeited during period (50,224 ) 66.27 Expired during period (38,723 ) 71.17 Options outstanding, end of period 891,632 $ 67.16 6.7 years $ 5,732,575 Options exercisable, end of period 554,872 $ 69.07 5.9 years $ 2,541,260 The aggregate intrinsic value reflected in the table above represents the total pre-tax intrinsic value (the difference between the closing stock price on December 31, 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 December 31, 2016 . This amount will change as the stock’s market price changes. The total intrinsic value of options exercised during the periods ended December 31, 2016 and 2015 was as follows: December 31, December 31, Three months ended $ 500,137 $ 153,726 Nine months ended $ 612,530 $ 2,107,301 As of December 31, 2016 , total unrecognized stock-based compensation expense related to non-vested stock options amounted to approximately $6.1 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 74,490 shares of restricted stock (which are equity classified), to certain executive officers, with a grant date weighted average fair value of $51.15 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 December 31, 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 $0.6 million and $0.3 million for the three months ended December 31, 2016 and 2015 , respectively, and recognized $1.0 million and a net reduction in compensation expense of $6.0 million for the nine months ended December 31, 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 December 31, 2016 , there was approximately $3.9 million of unrecognized compensation cost related to unvested restricted stock awards, which is expected to be recognized over the next 2.6 years based on current estimates. A summary of the status of the Company’s restricted stock as of December 31, 2016 , and changes during the nine months ended December 31, 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 74,490 51.15 Vested during the period (19,773 ) 27.98 Forfeited during the period (36,090 ) 62.49 Outstanding at December 31, 2016 112,177 $ 43.06 Total share-based compensation included as a component of net income during the three and nine month periods ended December 31, 2016 and 2015 was as follows: Three months ended December 31, Nine months ended December 31, 2016 2015 2016 2015 Share-based compensation related to equity classified awards: Share-based compensation related to stock options $ 2,149,340 1,719,236 3,131,760 3,226,766 Share-based compensation related to restricted stock, net of adjustments and exclusive of cancellations 618,023 346,865 1,041,891 (6,049,127 ) Total share-based compensation related to equity classified awards $ 2,767,363 2,066,101 4,173,651 (2,822,361 )

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Dec. 31, 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 nine months ended December 31, 2016. The following table sets forth the acquisition activity of the Company for the nine months ended December 31, 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	9 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
DEBT	DEBT At December 31, 2016 the Company's notes payable consist of a $460.0 million senior revolving credit facility with borrowings of $397.9 million outstanding and a $0.8 million standby letter 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 December 31, 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 nine months ended December 31, 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 5.8% and 5.6% , respectively, and the unused amount available under the revolver at December 31, 2016 was $61.3 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	9 Months Ended
	Dec. 31, 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 December 31, 2016 , the Company has determined that approximately $1.4 million of cumulative undistributed net earnings of SWAC and approximately $21.9 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 December 31, 2016 , there was an unrecognized deductible temporary difference in the amount of $223,000 related to investment in the Mexican subsidiaries. As of December 31, 2016 and March 31, 2016 , the Company had $10.5 million and $10.7 million , respectively, of total gross unrecognized tax benefits including interest. Approximately $8.0 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 December 31, 2016 , approximately $5.5 million of gross unrecognized tax benefits are expected to be resolved during the next twelve months through the expiration of the statute of limitations and settlement with taxing authorities. The Company’s continuing practice is to recognize interest and penalties related to income tax matters in income tax expense. As of December 31, 2016 , the Company had approximately $1.5 million accrued for gross interest, of which $139,312 was a current period-end expense for the nine months ended December 31, 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 2012, although carryforward attributes that were generated prior to 2012 may still be adjusted upon examination by the taxing authorities if they either have been or will be used in a future period. The Company’s effective income tax rate decreased to 32.7% for the quarter ended December 31, 2016 compared to 42.2% for the prior year quarter. The decrease was primarily due to the increase in reserves related to a state ruling against the Company in the prior year quarter.

LITIGATION

LITIGATION	9 Months Ended
	Dec. 31, 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)	9 Months Ended
	Dec. 31, 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)	9 Months Ended
	Dec. 31, 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: December 31, 2016 March 31, 2016 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value ASSETS Level 1 inputs Cash and cash equivalents $ 15,985,659 $ 15,985,659 $ 12,377,024 $ 12,377,024 Level 3 inputs Loans receivable, net 755,897,641 755,897,641 706,739,376 706,739,376 LIABILITIES Level 3 inputs Senior notes payable 397,936,200 397,936,200 374,685,000 374,685,000

ALLOWANCE FOR LOAN LOSSES (Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	The following is a summary of gross loans receivable as of: December 31, March 31, December 31, Small loans $ 720,626,086 637,826,581 754,478,231 Large loans 444,231,345 427,723,584 462,085,177 Sales finance receivables (1) 151,584 1,414,177 2,645,958 Total gross loans $ 1,165,009,015 1,066,964,342 1,219,209,366 (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.
Summary of changes in the allowance for loan losses	The following is a summary of the changes in the allowance for loan losses for the periods indicated: Three months ended December 31, Nine months ended December 31, 2016 2015 2016 2015 Balance at beginning of period $ 76,421,311 80,317,713 $ 69,565,804 70,437,988 Provision for loan losses 39,984,838 35,440,402 107,869,859 99,225,547 Loan losses (37,707,592 ) (35,294,084 ) (105,126,567 ) (97,622,277 ) Recoveries (1) 3,674,873 4,131,664 11,141,171 13,397,456 Translation adjustment (570,110 ) (107,101 ) (1,646,947 ) (950,120 ) Balance at end of period $ 81,803,320 84,488,594 $ 81,803,320 84,488,594
Summary of loans individually and collectively evaluated for impairment	The following is a summary of loans individually and collectively evaluated for impairment for the period indicated: December 31, 2016 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,679,222 — 4,679,222 Gross loans contractually delinquent 58,478,910 — 58,478,910 Loans not contractually delinquent and not in bankruptcy — 1,101,850,883 1,101,850,883 Gross loan balance 63,158,132 1,101,850,883 1,165,009,015 Unearned interest and fees (16,082,976 ) (311,225,078 ) (327,308,054 ) Net loans 47,075,156 790,625,805 837,700,961 Allowance for loan losses (42,594,801 ) (39,208,519 ) (81,803,320 ) Loans, net of allowance for loan losses $ 4,480,355 751,417,286 755,897,641 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 December 31, 2015 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,839,276 — 4,839,276 Gross loans contractually delinquent 56,777,734 — 56,777,734 Loans not contractually delinquent and not in bankruptcy — 1,157,592,356 1,157,592,356 Gross loan balance 61,617,010 1,157,592,356 1,219,209,366 Unearned interest and fees (15,173,459 ) (322,330,549 ) (337,504,008 ) Net loans 46,443,551 835,261,807 881,705,358 Allowance for loan losses (41,809,944 ) (42,678,650 ) (84,488,594 ) Loans, net of allowance for loan losses $ 4,633,607 792,583,157 797,216,764
Assessment of the credit quality	The following is an assessment of the credit quality for the period indicated: December 31, March 31, December 31, Credit risk Consumer loans- non-bankrupt accounts $ 1,159,145,977 1,061,436,900 1,213,286,140 Consumer loans- bankrupt accounts 5,863,038 5,527,442 5,923,226 Total gross loans $ 1,165,009,015 1,066,964,342 1,219,209,366 Consumer credit exposure Credit risk profile based on payment activity, performing $ 1,076,292,160 991,386,552 1,131,348,784 Contractual non-performing, 60 or more days delinquent (1) 88,716,855 75,577,790 87,860,582 Total gross loans $ 1,165,009,015 1,066,964,342 1,219,209,366 Credit risk profile based on customer type New borrower $ 169,425,813 141,980,629 173,506,380 Former borrower 136,401,410 111,608,375 137,261,707 Refinance 839,846,451 793,913,695 884,046,393 Delinquent refinance 19,335,341 19,461,643 24,394,886 Total gross loans $ 1,165,009,015 1,066,964,342 1,219,209,366
Summary of the past due receivables	The following is a summary of the past due receivables as of: December 31, March 31, December 31, Contractual basis: 30-59 days past due $ 42,938,440 40,094,824 44,805,260 60-89 days past due 28,231,005 27,082,385 29,428,608 90 days or more past due 60,485,851 48,495,405 58,431,974 Total $ 131,655,296 115,672,614 132,665,842 Percentage of period-end gross loans receivable 11.3 % 10.8 % 10.9 %

AVERAGE SHARE INFORMATION (Tabl

AVERAGE SHARE INFORMATION (Tables)	9 Months Ended
	Dec. 31, 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 December 31, Nine months ended December 31, 2016 2015 2016 2015 Basic: Weighted average common shares outstanding (denominator) 8,701,975 8,657,675 8,716,960 8,624,617 Diluted: Weighted average common shares outstanding 8,701,975 8,657,675 8,716,960 8,624,617 Dilutive potential common shares stock options 80,622 36,376 68,875 62,308 Weighted average diluted shares outstanding (denominator) 8,782,597 8,694,051 8,785,835 8,686,925

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 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 December 31, Nine months ended December 31, 2016 2015 2016 2015 Dividend Yield —% —% —% —% Expected Volatility 48.83% 41.51% 48.90% 41.41% Average risk-free rate 1.19% 1.37% 1.19% 1.38% Expected Life 5.0 years 5.0 years 5.0 years 5.0 years
Tabular disclosure of performance shares vesting based on EPS targets [Table Text Block]	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% Group A awards vested on April 30, 2015 based on the Company's achievement of the following performance goals as of March 31, 2015: EPS Target Restricted Shares Eligible for Vesting (Percentage of Award) $10.29 100% $9.76 67% $9.26 33% Below $9.26 0%
Summary schedule of stock option activity	ption activity for the nine months ended December 31, 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 62,175 51.36 Exercised during period (32,247 ) 34.45 Forfeited during period (50,224 ) 66.27 Expired during period (38,723 ) 71.17 Options outstanding, end of period 891,632 $ 67.16 6.7 years $ 5,732,575 Options exercisable, end of period 554,872 $ 69.07 5.9 years $ 2,541,260
Intrinsic value of options exercised	The total intrinsic value of options exercised during the periods ended December 31, 2016 and 2015 was as follows: December 31, December 31, Three months ended $ 500,137 $ 153,726 Nine months ended $ 612,530 $ 2,107,301
Summary of the status and changes restricted stock	A summary of the status of the Company’s restricted stock as of December 31, 2016 , and changes during the nine months ended December 31, 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 74,490 51.15 Vested during the period (19,773 ) 27.98 Forfeited during the period (36,090 ) 62.49 Outstanding at December 31, 2016 112,177 $ 43.06
Share-based compensation included as a component of net income	Total share-based compensation included as a component of net income during the three and nine month periods ended December 31, 2016 and 2015 was as follows: Three months ended December 31, Nine months ended December 31, 2016 2015 2016 2015 Share-based compensation related to equity classified awards: Share-based compensation related to stock options $ 2,149,340 1,719,236 3,131,760 3,226,766 Share-based compensation related to restricted stock, net of adjustments and exclusive of cancellations 618,023 346,865 1,041,891 (6,049,127 ) Total share-based compensation related to equity classified awards $ 2,767,363 2,066,101 4,173,651 (2,822,361 )

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Dec. 31, 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 nine months ended December 31, 2016. The following table sets forth the acquisition activity of the Company for the nine months ended December 31, 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]	There were no acquisitions during the nine months ended December 31, 2016. The following table sets forth the acquisition activity of the Company for the nine months ended December 31, 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 —

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($)	9 Months Ended
	Dec. 31, 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	$ 397,936,200	$ 374,685,000
Reported Value Measurement [Member] | Senior notes payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes payable	397,936,200	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	397,936,200	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	15,985,659	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	15,985,659	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	755,897,641	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	$ 755,897,641	$ 706,739,376

RECEIVABLES AND ALLOWANCE FOR L

RECEIVABLES AND ALLOWANCE FOR LOAN LOSSES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015
Financing Receivable, Impaired [Line Items]
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment			$ 41,800,000	$ 42,000,000
Allowance for Loan Losses [Roll Forward]
Balance at beginning of period			69,565,804	70,437,988
Provision for loan losses	$ 39,984,838	$ 35,440,402	107,869,859	99,225,547
Loan losses	(37,707,592)	(35,294,084)	(105,126,567)	(97,622,277)
Recoveries	3,674,873	4,131,664	11,141,171	13,397,456
Translation adjustment	(570,110)	(107,101)	(1,646,947)	(950,120)
Balance at end of period	81,803,320	84,488,594	81,803,320	84,488,594
Summary of loans individually and collectively evaluated for impairment [Abstract]
Bankruptcy, gross loans					$ 4,679,222		$ 4,560,322	$ 4,839,276
91 days or more delinquent, excluding bankruptcy					58,478,910		46,373,923	56,777,734
Loans less than 91 days delinquent and not in bankruptcy					1,101,850,883		1,016,030,097	1,157,592,356
Loans and Leases Receivable, Gross					1,165,009,015		1,066,964,342	1,219,209,366
Unearned interest and fees					(327,308,054)		(290,659,162)	(337,504,008)
Net loans					837,700,961		776,305,180	881,705,358
Allowance for loan losses	(81,803,320)	(84,488,594)	(69,565,804)	(70,437,988)	(81,803,320)	$ (76,421,311)	(69,565,804)	(84,488,594)	$ (80,317,713)
Loans receivable, net					755,897,641		706,739,376	797,216,764
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	42,594,801	41,809,944	42,594,801	41,809,944
Summary of loans individually and collectively evaluated for impairment [Abstract]
Bankruptcy, gross loans					4,679,222		4,560,322	4,839,276
91 days or more delinquent, excluding bankruptcy					58,478,910		46,373,923	56,777,734
Loans less than 91 days delinquent and not in bankruptcy					0		0	0
Loans and Leases Receivable, Gross					63,158,132		50,934,245	61,617,010
Unearned interest and fees					(16,082,976)		(12,726,898)	(15,173,459)
Net loans					47,075,156		38,207,347	46,443,551
Allowance for loan losses	(42,594,801)	(41,809,944)	(33,840,839)	(41,809,944)	(42,594,801)		(33,840,839)	(41,809,944)
Loans receivable, net					4,480,355		4,366,508	4,633,607
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	39,208,519	42,678,650	39,208,519	42,678,650
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					1,101,850,883		1,016,030,097	1,157,592,356
Loans and Leases Receivable, Gross					1,101,850,883		1,016,030,097	1,157,592,356
Unearned interest and fees					(311,225,078)		(277,932,264)	(322,330,549)
Net loans					790,625,805		738,097,833	835,261,807
Allowance for loan losses	$ (39,208,519)	$ (42,678,650)	$ (35,724,965)	$ (42,678,650)	(39,208,519)		(35,724,965)	(42,678,650)
Loans receivable, net					$ 751,417,286		$ 702,372,868	$ 792,583,157

ALLOWANCE FOR LOAN LOSSES (Asse

ALLOWANCE FOR LOAN LOSSES (Assessment of Credit Quality) (Details) - USD ($)	9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	$ 41,800,000	$ 42,000,000
Gross loan balance	1,165,009,015	1,219,209,366	$ 1,066,964,342
Consumer loans- non-bankrupt accounts [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	1,159,145,977	1,213,286,140	1,061,436,900
Consumer loans- bankrupt accounts [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	5,863,038	5,923,226	5,527,442
Performing Financing Receivable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	1,076,292,160	1,131,348,784	991,386,552
Nonperforming Financial Instruments [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	88,716,855	87,860,582	75,577,790
New borrower [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	169,425,813	173,506,380	141,980,629
Former borrower [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	136,401,410	137,261,707	111,608,375
Refinance [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	839,846,451	884,046,393	793,913,695
Delinquent refinance [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	$ 19,335,341	$ 24,394,886	$ 19,461,643

ALLOWANCE FOR LOAN LOSSES (Summ

ALLOWANCE FOR LOAN LOSSES (Summary of Past Due Receivables) (Details) - USD ($)	9 Months Ended		12 Months Ended
	Dec. 31, 2016	Dec. 31, 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	$ (81,803,320)	$ (84,488,594)	$ (69,565,804)	$ (76,421,311)	$ (80,317,713)	$ (70,437,988)
Financing Receivable, Bankruptcy	4,679,222	4,839,276	$ 4,560,322
Financing Receivable, Recorded Investment, Past Due	$ 131,655,296
Financing Receivable, Percent Past Due	11.30%		10.80%
Financing Receivables, Delinquent, excluding bankruptcy	$ 58,478,910	56,777,734	$ 46,373,923
Financing Receivables Less Than Ninety One Days Delinquent Excluding Bankruptcy	1,101,850,883	1,157,592,356	1,016,030,097
Loans and Leases Receivable, Gross	1,165,009,015	1,219,209,366	1,066,964,342
Financing Receivable Individually Evaluated for Impairment Unearned Interest and Fees	327,308,054	337,504,008	290,659,162
Loans and Leases Receivable, Net of Deferred Income	837,700,961	881,705,358	776,305,180
Loans and Leases Receivable, Net Amount	755,897,641	797,216,764	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	42,938,440		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	28,231,005	29,428,608	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	$ 60,485,851	58,431,974	48,495,405
Contractual basis [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		$ 132,665,842	$ 115,672,614
Financing Receivable, Percent Past Due		10.90%
Contractual basis [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		$ 44,805,260

ALLOWANCE FOR LOAN LOSSES Finan

ALLOWANCE FOR LOAN LOSSES Financing Receivables (Details) - USD ($)	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	$ 1,165,009,015	$ 1,066,964,342	$ 1,219,209,366
Small loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	720,626,086	637,826,581	754,478,231
Large loans [Member] [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	444,231,345	427,723,584	462,085,177
Sales finance loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	$ 151,584	$ 1,414,177	$ 2,645,958

AVERAGE SHARE INFORMATION (Deta

AVERAGE SHARE INFORMATION (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2016
Basic:
Weighted average common shares outstanding (in shares)	8,701,975	8,657,675	8,716,960	8,624,617
Diluted:
Weighted average common shares outstanding (in shares)	8,701,975	8,657,675	8,716,960	8,624,617
Dilutive potential common shares stock options (in shares)	80,622	36,376	68,875	62,308
Weighted average diluted shares outstanding (in shares)	8,782,597	8,694,051	8,785,835	8,686,925
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	853,589	848,245	945,791	842,471
Net Income (Loss) Attributable to Parent	$ 9,640,033	$ 14,751,374	$ 41,749,452	$ 57,569,828	$ 87,395,557
Earnings Per Share, Basic	$ 1.11	$ 1.70	$ 4.79	$ 6.68
Earnings Per Share, Diluted	$ 1.10	$ 1.70	$ 4.75	$ 6.63

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 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	853,589	848,245	945,791	842,471
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	48.83%	41.51%	48.90%	41.41%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.19%	1.37%	1.19%	1.38%
Stock Option Plans [Abstract]
Number of shares available for grant (in shares)	419,463		419,463
Weighted-average fair value at the grant date	$ 22.25	$ 10.28	$ 22.24	$ 10.82
Options Activity [Roll Forward]
Exercised (in shares)			(32,247)		(89,403)
Restricted Stock [Abstract]
Grant date fair value (in dollars per share)			$ 51.15		$ 28.11
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Grant date fair value (in dollars per share)			$ 51.15		$ 28.11
Compensation related to stock option and restricted stock plans			$ 3,905,977	$ (4,665,702)
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	5 years	5 years	5 years 3 days	5 years 9 days
Group B Performance Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross						56,660	443,700
Stock 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)			62,175
Exercised (in shares)			(32,247)
Forfeited (in shares)			(50,224)
Expired (in shares)			(38,723)
Options outstanding, end of period (in shares)	891,632		891,632		950,651
Options exercisable, end of period (in shares)	554,872		554,872
Weighted Average Exercise Price [Roll Forward]
Options outstanding, beginning of year (in dollars per share)			$ 67.20
Granted (in dollars per share)			51.36
Exercised (in dollars per share)			34.45
Forfeited (in dollars per share)			66.27
Expired (in dollars per share)			71.17
Options outstanding, end of period (in dollars per share)	$ 67.16		67.16		$ 67.20
Options exercisable, end of period (in dollars per share)	$ 69.07		$ 69.07
Stock Option Activity Additional Disclosures [Abstract]
Weighted-average remaining contractual term, Options outstanding, end of period			6 years 8 months 1 day
Weighted-average remaining contractual terms, Options exercisable, end of period			5 years 10 months 28 days
Aggregate intrinsic value, Options outstanding, end of period	$ 5,732,575		$ 5,732,575
Aggregate intrinsic value, Options exercisable, end of period	2,541,260		2,541,260
Intrinsic value of options exercised	500,137	$ 153,726	612,530	$ 2,107,301
Compensation Cost Not yet Recognized [Abstract]
Total unrecognized stock-based compensation expense related to non-vested stock options	6,100,000		$ 6,100,000
Weighted average period for recognition			2 years 2 months 16 days
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Weighted average period for recognition			2 years 2 months 16 days
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Compensation related to stock option and restricted stock plans	2,149,340	1,719,236	$ 3,131,760	3,226,766
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			74,490		69,950
Restricted Stock [Abstract]
Grant date fair value (in dollars per share)			$ 51.15
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	$ 3,900,000		$ 3,900,000
Summary of the status and changes in restricted stock [Roll Forward]
Outstanding at Beginning of Year (in shares)			93,550
Awards granted (in shares)			74,490
Vested during the period, net of cancellations (in shares)			(19,773)
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited			(36,090)
Outstanding at End of Period (in shares)	112,177		112,177		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)			51.15
Vested during the period, net of cancellations (in dollars per share)			27.98
Cancelled during the period (in dollars per share)			62.49
Outstanding at June 30, 2012 (in dollars per share)	$ 43.06		$ 43.06		$ 40.92
Compensation related to stock option and restricted stock plans	$ 618,023	346,865	$ 1,041,891	(6,049,127)
Restricted Stock [Member] | EPS Target [Member] | $10.29 EPS [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			100.00%
EPS Target			$ 10.29
Restricted Stock [Member] | EPS Target [Member] | $9.76 EPS [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			67.00%
EPS Target			$ 9.76
Restricted Stock [Member] | EPS Target [Member] | $9.26 EPS [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			33.00%
EPS Target			$ 9.26
Restricted Stock [Member] | EPS Target [Member] | Below $9.26 EPS [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			0.00%
EPS Target			$ 9.26
Restricted Stock [Member] | Trailing Four Quarter EPS Target [Member] | $13.00 [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			25.00%
EPS Target			$ 13
Restricted Stock [Member] | Trailing Four Quarter EPS Target [Member] | $14.50 [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			25.00%
EPS Target			$ 14.50
Restricted Stock [Member] | Trailing Four Quarter EPS Target [Member] | $16.00 [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			25.00%
EPS Target			$ 16
Restricted Stock [Member] | Trailing Four Quarter EPS Target [Member] | $18.00 [Member]
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Vesting Percentage (in hundredths)			25.00%
EPS Target			$ 18
Equity Securities [Member]
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Compensation related to stock option and restricted stock plans	$ 2,767,363	$ 2,066,101	$ 4,173,651	$ (2,822,361)
Performance Shares [Member]
Compensation Cost Not yet Recognized [Abstract]
Weighted average period for recognition			2 years 6 months 29 days
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Weighted average period for recognition			2 years 6 months 29 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	9 Months Ended
	Sep. 30, 2014acquisition	Dec. 31, 2016acquisition	Dec. 31, 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 ($)	9 Months Ended
	Dec. 31, 2016	Mar. 31, 2016
Line of Credit Facility [Line Items]
Letters of Credit Outstanding, Amount	$ 750,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	460,000,000
Amount outstanding	$ 397,900,000
Reference rate	LIBOR
Basis spread on variable rate (in hundredths)	4.00%
Debt Instrument, Interest Rate, Effective Percentage	5.80%	5.60%
Unused amount available	$ 61,300,000
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		9 Months Ended
	Dec. 31, 2016USD ($)foreign_subsidiary	Dec. 31, 2015	Dec. 31, 2016USD ($)foreign_subsidiary	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	223,000		223,000
Total gross unrecognized tax benefits including interest	10,500,000		10,500,000	$ 10,700,000
Unrecognized tax benefits that are permanent in nature and, if recognized, would affect the annual effective tax rate	8,000,000		8,000,000	$ 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	5,500,000		5,500,000
Accrued gross interest	$ 1,451,440		1,451,440
Current period gross interest expense			139,312
Effective Income Tax Rate Reconciliation, Percent	32.70%	42.20%
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	$ 21,900,000		$ 21,900,000