World Acceptance (WRLD) 10-Q 8 Nov 18 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2018	Nov. 01, 2018
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 Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		9,865,424
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2018	Mar. 31, 2018
ASSETS
Cash and cash equivalents	$ 5,595,711	$ 12,473,833
Loans and Leases Receivable, Gross	1,126,792,196	1,004,233,159
Less:
Financing Receivable Individually Evaluated for Impairment Unearned Interest and Fees	297,698,553	258,991,492
Unearned interest, insurance and fees	(297,698,553)	(258,991,492)
Allowance for loan losses	(79,310,375)	(66,088,139)
Loans receivable, net	749,783,268	679,153,528
Property and equipment, net	23,816,135	22,785,951
Deferred income taxes	22,892,445	20,175,148
Other assets, net	20,970,694	13,244,416
Goodwill	7,034,463	7,034,463
Intangible assets, net	8,856,698	6,644,301
Disposal Group, Including Discontinued Operation, Assets, Noncurrent	0	79,475,397
Total assets	838,949,414	840,987,037
Liabilities:
Senior notes payable	230,190,000	244,900,000
Income taxes payable	13,565,183	14,097,419
Accounts payable and accrued expenses	30,203,556	33,503,335
Disposal Group, Including Discontinued Operation, Liabilities, Current	0	7,378,431
Total liabilities	273,958,739	299,879,185
Commitments and contingencies	0	0
Shareholders' equity:
Preferred stock, no par value	0	0
Common stock, no par value	0	0
Additional paid-in capital	180,680,619	175,887,227
Retained earnings	384,310,056	391,275,705
Accumulated other comprehensive loss	0	(26,055,080)
Total shareholders' equity	564,990,675	541,107,852
Total liabilities and shareholders' equity	$ 838,949,414	$ 840,987,037

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2018	Mar. 31, 2018
Shareholders' equity:
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	95,000,000	95,000,000
Common stock, shares issued (in shares)	9,153,145	9,119,443
Common stock, shares outstanding (in shares)	9,153,145	9,119,443

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Interest and fee income	$ 113,490,097	$ 106,317,687	$ 221,934,475	$ 209,685,171
Insurance commissions and other income	13,625,666	12,611,364	27,971,273	25,882,246
Total revenues	127,115,763	118,929,051	249,905,748	235,567,417
Expenses:
Provision for loan losses	40,358,696	32,824,398	70,949,315	60,534,025
General and administrative expenses:
Personnel	39,694,543	38,198,950	81,263,890	79,242,753
Occupancy and equipment	10,365,759	9,714,602	20,417,862	19,242,486
Advertising	5,116,510	5,041,454	9,966,595	9,678,910
Amortization of intangible assets	275,496	275,447	538,948	461,269
Other	9,483,540	9,536,959	20,525,908	20,350,180
Total general and administrative expenses	64,935,848	62,767,412	132,713,203	128,975,598
Interest expense	4,157,999	4,790,744	8,383,000	9,037,446
Total expenses	109,452,543	100,382,554	212,045,518	198,547,069
Income before income taxes	17,663,220	18,546,497	37,860,230	37,020,348
Income taxes	3,604,153	6,510,886	8,163,498	13,776,282
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	14,059,067	12,035,611	29,696,732	23,244,066
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	0	(2,216,433)	2,341,825	215,290
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Per Diluted Share	628,921	0	(38,377,623)	0
Discontinued Operation, Tax Effect of Discontinued Operation	150,343	19,833	626,583	592,325
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	478,578	(2,236,266)	(36,662,381)	(377,035)
Net income	$ 14,537,645	$ 9,799,345	$ (6,965,649)	$ 22,867,031
Income (Loss) from Continuing Operations, Per Basic Share	$ 1.55	$ 1.38	$ 3.28	$ 2.67
Income (Loss) from Continuing Operations, Per Diluted Share	1.51	1.35	3.20	2.62
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0.05		(4.05)
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share		(0.26)		(0.04)
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	0.05		(3.95)
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share		(0.25)		(0.04)
Net income per common share:
Basic (in dollars per share)	1.60	1.12	(0.77)	2.63
Diluted (in dollars per share)	$ 1.56	$ 1.10	$ (0.75)	$ 2.58
Weighted average common shares outstanding:
Basic (in shares)	9,072,160	8,713,638	9,063,524	8,700,489
Diluted (in shares)	9,292,886	8,895,274	9,273,104	8,861,007

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net income	$ 14,537,645	$ 9,799,345	$ (6,965,649)	$ 22,867,031
Foreign currency translation adjustments	0	(819,978)	(5,235,838)	1,658,641
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	31,290,918	0	31,290,918	0
Comprehensive income	$ 45,828,563	$ 8,979,367	$ 19,089,431	$ 24,525,672

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, 2017	$ 461,063,577	$ 144,241,105	$ 344,605,347	$ (27,782,875)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Proceeds from exercise of stock options, including tax benefits	25,323,531	25,323,531
Stock Repurchased During Period, Value	4,614,331		4,614,331
Issuance of restricted common stock under stock option plan	1,564,048	1,564,048
Stock option expense	2,353,214	2,353,214
Other comprehensive income	1,727,795			1,727,795
Net income	53,690,018		53,690,018
Balances at Mar. 31, 2018	541,107,852	175,887,227	391,275,705	(26,055,080)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Cumulative Effect of New Accounting Principle in Period of Adoption	(2,405,329)
Proceeds from exercise of stock options, including tax benefits	1,815,406	1,815,406
Issuance of restricted common stock under stock option plan	1,914,349	1,914,349
Stock option expense	1,063,637	1,063,637
Other comprehensive income	(5,235,838)			(5,235,838)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	31,290,918
Net income	(6,965,649)		(6,965,649)
Balances at Sep. 30, 2018	$ 564,990,675	$ 180,680,619	$ 384,310,056	$ 0

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($)	6 Months Ended	12 Months Ended
	Sep. 30, 2018	Mar. 31, 2018
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Proceeds from exercise of stock options (in shares)	25,276	389,888
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	$ 0
Proceeds from exercise of stock options, tax benefits		$ 0
Common stock repurchases (in shares)	0	58,728
Adjustments Related to Tax Withholding for Share-based Compensation	$ 0	$ 1,517,357

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flow from operating activities:
Net income	$ (6,965,649)	$ 22,867,031
Gain (Loss) on Disposition of Business	38,377,623	0
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets	538,948	461,269
Amortization of loan costs and discounts	320,588	447,884
Provision for loan losses	70,949,315	60,534,025
Depreciation	3,296,860	3,609,047
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	123,852	(174,034)
Deferred income tax benefit	(2,717,297)	(7,674,970)
Compensation related to stock option and restricted stock plans	2,977,986	2,412,345
Change in accounts:
Other assets, net	7,806,866	175,253
Income taxes payable	(532,236)	(461,044)
Accounts payable and accrued expenses	(3,299,779)	2,147,872
Net cash provided by operating activities	95,263,345	93,974,751
Cash flows from investing activities:
Increase in loans receivable, net	(132,314,528)	(103,599,118)
Purchases of property and equipment	(4,609,927)	(3,972,237)
Proceeds from Sale of Property, Plant, and Equipment	159,031	109,842
Proceeds from Divestiture of Businesses	37,494,505	0
Net cash used in investing activities	(111,286,791)	(117,823,968)
Cash flow from financing activities:
Borrowings from senior notes payable	130,190,000	133,663,800
Payments on senior notes payable	(144,900,000)	(108,050,000)
Proceeds from exercise of stock options	1,815,406	6,765,046
Payments of Loan Costs	(240,000)	(420,000)
Repurchase of common stock	0	(4,614,331)
Net cash provided by financing activities	(13,134,594)	27,344,515
Increase in cash and cash equivalents	(26,490,593)	3,579,867
Effects of foreign currency fluctuations on cash	2,667,447	84,569
Cash and cash equivalents at beginning of period	12,473,833	11,581,936
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	0	5,442,591
Cash and cash equivalents at end of period	5,595,711	18,780,277
Interest Paid, Including Capitalized Interest, Operating and Investing Activities	7,878,609	8,138,988
Income Taxes Paid	12,261,977	22,498,725
Net assets acquired from acquisition primarily loans	(9,264,527)	(8,566,874)
Net Assets Acquired from Acquisition, Intangibles	(2,751,345)	(1,795,581)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	5,595,711	13,337,686
Parent Company [Member]
Provision for loan losses	$ 70,949,315	$ 69,816,030

Segments Statement

Segments Statement - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 127,115,763	$ 118,929,051	$ 249,905,748	$ 235,567,417
Provision for Loan and Lease Losses	40,358,696	32,824,398	70,949,315	60,534,025
General and Administrative Expense	64,935,848	62,767,412	132,713,203	128,975,598
Interest Expense	4,157,999	4,790,744	8,383,000	9,037,446
Income Tax Expense (Benefit)	3,604,153	6,510,886	8,163,498	13,776,282
Net Income (Loss) Attributable to Parent	14,537,645	$ 9,799,345	(6,965,649)	$ 22,867,031	$ 53,690,018
Assets	$ 838,949,414		$ 838,949,414		$ 840,987,037

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The consolidated financial statements of the Company at September 30, 2018 , and for the three and six months then ended were prepared in accordance with the instructions for Form 10-Q and are unaudited; however, in the opinion of management all adjustments (consisting only of items of a normal, recurring nature) necessary for a fair presentation of the financial position at September 30, 2018 , and the results of operations and cash flows for the periods ended September 30, 2018 and 2017 , 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 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, 2018 , included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2018 , as filed with the SEC.

SUMMARY OF SIGNIFICANT POLICIES

SUMMARY OF SIGNIFICANT POLICIES	6 Months Ended
	Sep. 30, 2018
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 Scope of Modification Accounting In May 2017, the FASB issued ASU 2017-09, Scope of Modification Accounting. The amendments in this update provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. According to ASU 2017-09 an entity should account for the effects of a modification unless all the following are met: 1. The fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified. 2. The vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified. 3. The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The amendments in this Update are effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The Company adopted ASU 2017-09 on its effective date, April 1, 2018. Management has reviewed the provisions of ASU 2017-09 and has determined that there is no financial statement impact during the period since this is a clarification to current guidance. The Company will apply the clarified guidance on any future change to terms and conditions of share-based payment awards. Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing In April 2016, the FASB issued ASU 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. The Company adopted ASU 2016-10 on its effective date, April 1, 2018. Management has concluded that the new standard did not have a material impact on the Company's consolidated financial statements. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued ASU 2016-01, which updates certain aspects of recognition, measurement, presentation and disclosure of financial instruments. Public entities should apply the amendments for annual reporting periods beginning after December 15, 2017, including interim reporting periods therein. The Company adopted ASU 2016-01 on its effective date, April 1, 2018. The Company's current disclosures around financial instruments reflect the instruments' estimated fair market value or exit price. Based on this, management has determined that the provisions of ASU 2016-01 had no financial statement impact during the period of adoption. Revenue from Contracts with Customers In May 2014, the FASB issued ASU 2014-09, which supersedes the revenue recognition requirements Topic 605 (Revenue Recognition), and most industry-specific guidance. ASU 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 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 2014-09, as amended by ASU 2015-14, ASU 2016-20, ASU 2017-13, is effective for fiscal years, and interim periods, beginning after December 15, 2017. The Company adopted this new guidance on its effective date, April 1, 2018, using the modified retrospective method where prior periods are not restated. Management has evaluated revenue from contracts with customers and has concluded that the new standard did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment. ASU 2017-04 eliminates Step 2 from the goodwill impairment test. Instead, under the amendments in this Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. ASU 2017-04 also eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. Therefore, the same impairment assessment applies to all reporting units. The amendments in this update are effective for public entities who are SEC filers for fiscal years beginning after December 15, 2018. Early adoption is permitted. 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 FASB issued ASU 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. The adoption of this ASU could have a material impact on the provision for loan losses in the consolidated statements of operations and allowance for loan losses in the consolidated balance sheets. Leases In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The ASU 2016-02, as amended by ASU 2018-01, and ASU 2018-10, 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. We expect the standard to have an impact on our assets and liabilities for the addition of right-of-use assets and lease liabilities, but we do not expect it to have a material impact to our results of operations or liquidity. In July of 2018, the FASB issued ASU 2018-11, Leases: Targeted Improvements, which allows for a transition option to adopt the standard on the date of initial application as opposed to the modified retrospective approach. We plan to make the election to adopt the standard using this transition relief. We reviewed all other newly issued accounting pronouncements and concluded that they are either not applicable to our business or are not expected to have a material effect on the consolidated financial statements as a result of future adoption.

FAIR VALUE

FAIR VALUE	6 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Fair Value Disclosures The Company may carry certain financial instruments and derivative assets and liabilities measured 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 measured at fair value on a recurring basis 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 amounts and estimated fair values of amounts the Company measures at fair value on a recurring basis are summarized below. September 30, 2018 March 31, 2018 Input Level Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value ASSETS Cash and cash equivalents 1 $ 5,595,711 5,595,711 $ 12,473,833 12,473,833 Loans receivable, net 3 749,783,268 749,783,268 679,153,528 679,153,528 LIABILITIES Senior notes payable 3 230,190,000 230,190,000 244,900,000 244,900,000 There were no significant assets or liabilities measured at fair value on a non-recurring basis as of September 30, 2018 or March 31, 2018 .

ALLOWANCE FOR LOAN LOSSES

ALLOWANCE FOR LOAN LOSSES	6 Months Ended
	Sep. 30, 2018
Receivables [Abstract]
ALLOWANCE FOR LOAN LOSSES	ALLOWANCE FOR LOAN LOSSES The following is a summary of gross loans receivable as of: September 30, March 31, September 30, Small loans $ 762,822,428 $ 670,189,211 $ 696,586,798 Large loans 363,969,159 334,041,731 327,325,734 Sales finance loans (1) 609 2,217 12,218 Total gross loans $ 1,126,792,196 $ 1,004,233,159 $ 1,023,924,750 (1) The Company decided to wind down the World Class Buying Club program during the third quarter of fiscal 2015. As of March 31, 2015, the Company is no longer financing the purchase of products through the program; however, the Company will continue to service the outstanding retail installment sales contracts. The following is a summary of the changes in the allowance for loan losses for the periods indicated: Three months ended September 30, Six months ended September 30, 2018 2017 2018 2017 Balance at beginning of period $ 68,029,622 63,297,884 $ 66,088,139 $ 60,644,365 Provision for loan losses 40,358,696 32,824,398 70,949,315 60,534,025 Loan losses (32,572,205 ) (28,437,598 ) (65,013,346 ) (57,496,635 ) Recoveries 3,494,262 3,487,993 7,286,267 7,490,922 Balance at end of period $ 79,310,375 $ 71,172,677 $ 79,310,375 $ 71,172,677 The following is a summary of loans individually and collectively evaluated for impairment for the period indicated: September 30, 2018 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 5,002,410 — 5,002,410 Gross loans contractually delinquent 54,677,031 — 54,677,031 Loans not contractually delinquent and not in bankruptcy — 1,067,112,755 1,067,112,755 Gross loan balance 59,679,441 1,067,112,755 1,126,792,196 Unearned interest and fees (12,519,916 ) (285,178,637 ) (297,698,553 ) Net loans 47,159,525 781,934,118 829,093,643 Allowance for loan losses (42,369,717 ) (36,940,658 ) (79,310,375 ) Loans, net of allowance for loan losses $ 4,789,808 744,993,460 749,783,268 March 31, 2018 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,627,599 — 4,627,599 Gross loans contractually delinquent 50,019,567 — 50,019,567 Loans not contractually delinquent and not in bankruptcy — 949,585,993 949,585,993 Gross loan balance 54,647,166 949,585,993 1,004,233,159 Unearned interest and fees (11,433,666 ) (247,557,826 ) (258,991,492 ) Net loans 43,213,500 702,028,167 745,241,667 Allowance for loan losses (38,782,574 ) (27,305,565 ) (66,088,139 ) Loans, net of allowance for loan losses $ 4,430,926 674,722,602 679,153,528 September 30, 2017 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 5,121,074 — 5,121,074 Gross loans contractually delinquent 49,683,327 — 49,683,327 Loans not contractually delinquent and not in bankruptcy — 969,120,349 969,120,349 Gross loan balance 54,804,401 969,120,349 1,023,924,750 Unearned interest and fees (11,330,664 ) (257,511,525 ) (268,842,189 ) Net loans 43,473,737 711,608,824 755,082,561 Allowance for loan losses (38,570,309 ) (32,602,368 ) (71,172,677 ) Loans, net of allowance for loan losses $ 4,903,428 679,006,456 683,909,884 The average net balance of impaired loans was $44.2 million and $40.0 million , respectively, for the six month periods ended September 30, 2018 , and 2017 . It is not practical to compute the amount of interest earned on impaired loans. The following is an assessment of the credit quality for the period indicated: September 30, March 31, September 30, Credit risk Consumer loans- non-bankrupt accounts $ 1,120,466,940 $ 998,299,051 $ 1,017,563,556 Consumer loans- bankrupt accounts 6,325,256 5,934,108 6,361,194 Total gross loans $ 1,126,792,196 $ 1,004,233,159 $ 1,023,924,750 Consumer credit exposure Credit risk profile based on payment activity, performing $ 1,042,501,191 $ 929,400,862 948,326,694 Contractual non-performing, 60 or more days delinquent (1) 84,291,005 74,832,297 75,598,056 Total gross loans $ 1,126,792,196 $ 1,004,233,159 $ 1,023,924,750 Credit risk profile based on customer type New borrower $ 130,010,547 $ 104,762,628 $ 103,241,227 Former borrower 134,554,113 104,281,551 124,266,410 Refinance 843,003,017 778,115,097 777,540,110 Delinquent refinance 19,224,519 17,073,883 18,877,003 Total gross loans $ 1,126,792,196 $ 1,004,233,159 $ 1,023,924,750 (1) Loans in non-accrual status. The following is a summary of the past due receivables as of: September 30, March 31, September 30, Contractual basis: 30-59 days past due $ 44,729,889 32,959,151 39,505,786 60-89 days past due 29,613,974 24,812,730 25,914,729 90 days or more past due 54,677,031 50,019,567 49,683,327 Total $ 129,020,894 107,791,448 115,103,842 Percentage of period-end gross loans receivable 11.5 % 10.7 % 11.2 %

AVERAGE SHARE INFORMATION

AVERAGE SHARE INFORMATION	6 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
AVERAGE SHARE INFORMATION	AVERAGE SHARE INFORMATION The following is a summary of the basic and diluted average common shares outstanding: Three months ended September 30, Six months ended September 30, 2018 2017 2018 2017 Basic: Weighted average common shares outstanding (denominator) 9,072,160 8,713,638 9,063,524 8,700,489 Diluted: Weighted average common shares outstanding 9,072,160 8,713,638 9,063,524 8,700,489 Dilutive potential common shares securities 220,726 181,636 209,580 160,518 Weighted average diluted shares outstanding (denominator) 9,292,886 8,895,274 9,273,104 8,861,007 Options to purchase 468,253 and 295,550 shares of common stock at various prices were outstanding during the three months ended September 30, 2018 and 2017 respectively, but were not included in the computation of diluted EPS because the option exercise price was anti-dilutive. Options to purchase 477,357 and 455,912 shares of common stock at various prices were outstanding during the six months ended September 30, 2018 and 2017 respectively, but were not included in the computation of diluted EPS because the option exercise price was anti-dilutive.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock Option Plans The Company has a 2005 Stock Option Plan, a 2008 Stock Option Plan, a 2011 Stock Option Plan and a 2017 Stock Incentive Plan for the benefit of certain non-employee directors, officers, and key employees. Under these plans, a total of 4,950,000 shares of common stock have been authorized and 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, non-employee directors, and key employees, and are priced at the market value of the Company's common stock on the option's grant date. At September 30, 2018 , there were a total of 1,256,768 shares of common stock 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 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. There were no options issued during the three months ended September 30, 2018 and 2017 . The weighted-average fair value at the grant date for options issued during the six months ended September 30, 2018 and 2017 was $49.67 and $22.79 , respectively. Fair value was estimated at grant date using the weighted-average assumptions listed below: Six months ended September 30, 2018 2017 Dividend Yield —% —% Expected Volatility 53.02% 50.33% Average risk-free rate 2.84% 1.85% Expected Life 5.0 years 5.0 years The expected stock price volatility is based on the historical volatility of the Company's common stock for a period approximating the expected life. The expected life represents the period of time that options are expected to be outstanding after the grant date. The risk-free rate reflects the interest rate at grant date on zero coupon U.S. governmental bonds having a remaining life similar to the expected option term. Option activity for the six months ended September 30, 2018 was as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Options outstanding, beginning of period 497,728 $ 70.69 Granted during period 300 102.22 Exercised during period (25,276 ) 71.82 Forfeited during period (6,445 ) 72.40 Expired during period (600 ) 76.51 Options outstanding, end of period 465,707 $ 70.62 5.5 years $ 20,370,380 Options exercisable, end of period 273,157 $ 72.24 4.2 years $ 11,506,364 The aggregate intrinsic value reflected in the table above represents the total pre-tax intrinsic value (the difference between the closing stock price on September 30, 2018 and the exercise price, multiplied by the number of in-the-money options) that would have been received by option holders had all option holders exercised their options as of September 30, 2018 . This amount will change as the market price of the common stock changes. The total intrinsic value of options exercised during the periods ended September 30, 2018 and 2017 was as follows: September 30, September 30, Three months ended $ 150,407 $ 451,718 Six months ended $ 1,091,547 $ 2,676,597 As of September 30, 2018 , total unrecognized stock-based compensation expense related to non-vested stock options amounted to approximately $1.3 million , which is expected to be recognized over a weighted-average period of approximately 1.8 years. Restricted Stock During the three months ended September 30, 2018, the Company granted 8,426 shares of restricted stock (which are equity classified) to certain executive officers, with a grant date weighted average fair value of $118.21 per share. One-third of these awards vest on each anniversary of the grant date over the next three years. During fiscal 2018, the Company granted 24,456 shares of restricted stock (which are equity classified) to certain executive officers, with a grant date weighted average fair value of $107.52 per share. One-third of these awards vest on each anniversary of the grant date over the three years following the grant date. During fiscal 2017, the Company 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 vest on each anniversary of the grant date over the three years following the grant date. 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 $1.0 million and $0.7 million for the three months ended September 30, 2018 and 2017 , respectively, and recognized compensation expense of $1.9 million and $1.3 million for the six months ended September 30, 2018 and 2017 , respectively, which is included as a component of general and administrative expenses in the Company’s Consolidated Statements of Operations. As of September 30, 2018 , there was approximately $2.4 million of unrecognized compensation cost related to unvested restricted stock awards, which is expected to be recognized over the next 2.1 years based on current estimates. A summary of the status of the Company’s restricted stock as of September 30, 2018 , and changes during the six months ended September 30, 2018 , are presented below: Shares Weighted Average Fair Value at Grant Date Outstanding at March 31, 2018 73,810 $ 65.74 Granted during the period 8,426 118.21 Vested during the period (2,712 ) 43.14 Forfeited during the period — — Outstanding at September 30, 2018 79,524 $ 72.07 Total share-based compensation included as a component of net income during the three and six -month periods ended September 30, 2018 and 2017 was as follows: Three months ended September 30, Six months ended September 30, 2018 2017 2018 2017 Share-based compensation related to equity classified awards: Share-based compensation related to stock options $ 539,410 572,916 $ 1,063,637 $ 1,122,227 Share-based compensation related to restricted stock, net of adjustments and exclusive of cancellations 963,559 707,352 1,914,349 1,290,118 Total share-based compensation related to equity classified awards $ 1,502,969 1,280,268 $ 2,977,986 $ 2,412,345

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS The Company evaluates each set of assets and activities it acquires to determine if the set meets the definition of a business according to FASB ASC Topic 805-10-55. Acquisitions meeting the definition of a business are accounted for as a business combination while all other acquisitions are accounted for as asset purchases. The following table sets forth the Company's acquisition activity for the six months ended September 30, 2018 and 2017 . Six months ended September 30, 2018 2017 Acquisitions: Number of branches acquired through business combinations 3 3 Number of loan portfolios acquired through asset purchases 28 24 Total acquisitions 31 27 Purchase price $ 12,015,872 $ 10,362,455 Tangible assets: Loans receivable, net 9,264,527 8,563,874 Property and equipment — 3,000 Total tangible assets 9,264,527 8,566,874 Excess of purchase prices over carrying value of net tangible assets $ 2,751,345 $ 1,795,581 Customer lists 2,596,345 1,660,581 Non-compete agreements 155,000 135,000 Goodwill — — Total intangible assets $ 2,751,345 $ 1,795,581 Acquisitions that are accounted for as business combinations typically result in one or more new branches. In such cases, the Company typically retains the existing employees and the branch location from the acquisition. The purchase price is allocated to the tangible assets and intangible assets acquired based upon their estimated fair market values at the acquisition date. The remainder is allocated to goodwill. The following table describes the Company's acquisition activity for the six months ended September 30, 2018 . No. Acquiree Name Acquiree State(s) Date 1 Customer Credit Corporation (1 branch) LA 8/13/2018 2 Your Credit, Inc. (1 branch) WI 8/24/2018 3 Noble Finance Corporation (1 branch) ID 9/28/2018 Acquisitions that are accounted for as asset purchases are typically limited to acquisitions of loan portfolios. The purchase price is allocated to the tangible assets and intangible assets acquired based upon their estimated fair market values at the acquisition date. In an asset purchase, no goodwill is recorded. The Company’s acquisitions include tangible assets (generally loans and furniture and equipment) and intangible assets (generally non-compete agreements, customer lists, and goodwill), both of which are recorded at their fair values, which are estimated pursuant to the processes described below. Acquired loans are valued at the net loan balance. Given the short-term nature of these loans, generally eight months , and that these loans are priced at current rates, management believes the net loan balances approximate their fair value. Furniture and equipment are valued at the specific purchase price as agreed to by both parties at the time of acquisition, which management believes approximates their fair values. Non-compete agreements are valued at the stated amount paid to the other party for these agreements, which the Company believes approximates the fair value. Customer lists are valued with a valuation model that utilizes the Company’s historical data to estimate the value of any acquired customer lists. Customer lists are allocated at a branch level and are evaluated for impairment at a branch level when a triggering event occurs in accordance with FASB ASC Topic 360-10-05. If a triggering event occurs, the impairment loss to the customer list is generally the remaining unamortized customer list balance. In most acquisitions, the original fair value of the customer list allocated to a branch is less than $100,000, and management believes that in the event a triggering event were to occur, the impairment loss to an unamortized customer list would be immaterial. The results of all acquisitions have been included in the Company’s Consolidated Financial Statements since the respective acquisition date. The pro forma impact of these branches as though they had been acquired at the beginning of the periods presented would not have a material effect on the results of operations as reported.

DEBT

DEBT	6 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
DEBT	DEBT At September 30, 2018 the Company's notes payable consisted of a $480.0 million senior revolving credit facility with borrowings of $230.2 million outstanding and $300.0 thousand outstanding in standby letters of credit related to workers compensation. To the extent that the letters of credit are drawn upon, the disbursement will be funded by the credit facility. There are no amounts due related to the letters of credit as of September 30, 2018 , and they expire on December 31, 2018. The letters of credit are automatically extended for one year on the expiration date. Subject to a borrowing base formula, the Company may borrow at the rate of LIBOR plus 4.0% with a minimum rate of 5.0% . For the six months ended September 30, 2018 and fiscal year ended March 31, 2018 , the Company’s effective interest rate, including the commitment fee and amortization of debt issuance costs, was 6.8% and 6.0% , respectively, and the unused amount available under the revolver at September 30, 2018 was $249.5 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, 2020 . Substantially all of the Company’s assets are pledged as collateral for borrowings under the revolving credit agreement. The revolving credit agreement contains events of default including, without limitation, nonpayment of principal, interest or other obligations, violation of covenants, misrepresentation, cross-default to other debt, bankruptcy and other insolvency events, judgments, certain ERISA events, actual or asserted invalidity of loan documentation, invalidity of subordination provisions of subordinated debt, certain changes of control of the Company, and the occurrence of certain regulatory events (including the entry of any stay, order, judgment, ruling or similar event related to the Company’s or any of its subsidiaries’ originating, holding, pledging, collecting or enforcing its eligible finance receivables that is material to the Company or any subsidiary) which remains unvacated, undischarged, unbonded or unstayed by appeal or otherwise for a period of 60 days from the date of its entry and is reasonably likely to cause a material adverse change. If it is determined that a violation of the FCPA or other laws has occurred, as described in Note 11, such violation may give rise to an event of default under the revolving credit agreement if such violation were to have a material adverse effect on the Company’s business, operations, properties, assets, or condition (financial or otherwise) or if the amount of any settlement resulted in the Company failing to satisfy any financial covenants.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act. The TCJA included significant changes to existing tax law, including a permanent reduction to the U.S. federal corporate income tax rate from 35% to 21%, a one-time repatriation tax on deferred foreign income (“Transition Tax”), and changes in deductions, credits and business-related exclusions. The permanent reduction to the U.S. federal corporate income tax rate from 35% to 21% was effective January 1, 2018. When a federal tax rate change occurs during a fiscal year, the Internal Revenue Code requires taxpayers to compute a weighted daily average rate for the fiscal year of enactment. As a result, the Company calculated a U.S. federal statutory corporate income tax rate of 31.55% for the fiscal year ending March 31, 2018. The U.S. corporate federal statutory rate of 31.55% is the weighted daily average rate between the pre-enactment federal statutory rate of 35% and post-enactment federal statutory rate of 21%. The impact of changes in federal tax rates on deferred tax amounts and the effect of the Transition Tax are significant unusual or infrequent items which are recognized as discrete items in the Company’s income tax expense in the interim period in which the event occurs. The Company recorded a $10.5 million net impact of revaluing the U.S. deferred tax assets and liabilities in the third quarter of fiscal 2018. The Company also recorded additional tax expense of $4.9 million related to the foreign "Transition Tax" during the fourth quarter of fiscal 2018. During the first quarter of fiscal 2019, the Company's former Mexican subsidiaries paid the U.S. Company a dividend of $17.1 million . The Company will no longer claim permanent reinvestment in the respective foreign jurisdiction. Because of the Transition Tax, the Company's tax basis was greater than its book basis. This difference was recognized during the first quarter when the foreign subsidiaries were marked as held for sale. The recognition of the basis difference created a capital loss that the Company does not believe will be recognized in the carryforward period; therefore, a full tax valuation allowance was recorded against the recognized loss. As of September 30, 2018 and March 31, 2018 , the Company had $9.6 million and $8.8 million , respectively, of total gross unrecognized tax benefits including interest. Approximately $7.7 million and $6.9 million , respectively, represent the amount of net unrecognized tax benefits that are permanent in nature and, if recognized, would affect the annual effective tax rate. At September 30, 2018 , approximately $4.2 million of gross unrecognized tax benefits are expected to be resolved during the next twelve months through the expiration of the statute of limitations and settlement with taxing authorities. The Company’s continuing practice is to recognize interest and penalties related to income tax matters in income tax expense. As of September 30, 2018 , the Company had approximately $2.7 million accrued for gross interest, of which $0.9 million was a current period-end expense for the six months ended September 30, 2018 . 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 2014, although carryforward attributes that were generated prior to 2014 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 for continuing operations decreased to 20.4% for the quarter ended September 30, 2018 compared to 35.1% for the prior year quarter. The decrease is related to the reduction in the federal statutory tax rate that was fully integrated during the first quarter of fiscal 2019.

LITIGATION

LITIGATION	6 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
LITIGATION	Mexico Investigation As previously disclosed, the Company has retained outside legal counsel and forensic accountants to conduct an investigation of its operations in Mexico, focusing on the legality under the FCPA, and certain local laws of certain payments related to loans, the maintenance of the Company’s books and records associated with such payments, and the treatment of compensation matters for certain employees. The investigation continues to address whether and to what extent improper payments, which may violate the FCPA and other local laws, were made approximately between 2010 and 2017 by or on behalf of WAC de Mexico, to government officials in Mexico relating to loans made to unionized employees. The Company voluntarily contacted the SEC and the DOJ in June 2017 to advise both agencies that an internal investigation was underway and that the Company intended to cooperate with both agencies. The Company has and will continue to cooperate with both agencies. The SEC has issued a formal order of investigation. A conclusion cannot be drawn at this time as to what potential remedies these agencies may seek. The Company cannot determine at this time the ultimate effect that the investigation or any remedial measures will have on its financial condition or results of operations. If violations of the FCPA or other local laws occurred, the Company could be subject to fines, civil and criminal penalties, equitable remedies, including profit disgorgement and related interest, and injunctive relief. In addition, any disposition of these matters could result in modifications to our business practices and compliance programs. Any disposition could also potentially require that a monitor be appointed to review future business practices with the goal of ensuring compliance with the FCPA and other applicable laws. The Company could also face fines, sanctions, and other penalties from authorities in Mexico, as well as third-party claims by shareholders and/or other stakeholders of the Company. In addition, disclosure of the investigation or its ultimate disposition could adversely affect the Company’s reputation and its ability to obtain new business or retain existing business from its current customers and potential customers, to attract and retain employees, and to access the capital markets. If it is determined that a violation of the FCPA has occurred, such violation may give rise to an event of default under the Company’s credit agreement if such violation were to have a material adverse effect on the Company’s business, operations, properties, assets, or condition (financial or otherwise) or if the amount of any settlement, penalties, fines or other payments resulted in the Company failing to satisfy any financial covenants. Additional potential FCPA violations or violations of other laws or regulations may be uncovered through the investigation. In addition to the ultimate liability for disgorgement and related interest, the Company believes that it could be further liable for fines and penalties. The Company is continuing its discussions with the DOJ and SEC regarding the matters under investigation, but the Company cannot reasonably estimate the amount of any fine or penalty that it may have to pay as a part of any possible settlement or assess the potential liability that might be incurred if a settlement is not reached and the government were to litigate the matter. As such, based on the information available at this time, any additional liability related to this matter is not reasonably estimable. The Company will continue to evaluate the amount of its liability pending final resolution of the investigation and any related discussions with the government. Further, under the terms of the stock purchase agreement, we are obligated to indemnify the purchasers for claims and liabilities relating to certain investigations of our Mexico operating segment, the Company, and its affiliates by the DOJ or the SEC that commenced prior to July 1, 2018. Any such indemnification claims could have a material adverse effect on our financial condition, including liquidity, and results of operations. General In addition, from time to time the Company is involved in routine litigation matters relating to claims arising out of its operations in the normal course of business, including matters in which damages in various amounts are claimed. Estimating an amount or range of possible losses resulting from litigation, government actions and other legal proceedings is inherently difficult and requires an extensive degree of judgment, particularly where the matters involve indeterminate claims for monetary damages, may involve fines, penalties or damages that are discretionary in amount, involve a large number of claimants or significant discretion by regulatory authorities, represent a change in regulatory policy or interpretation, present novel legal theories, are in the early stages of the proceedings, are subject to appeal or could result in a change in business practices. In addition, because most legal proceedings are resolved over extended periods of time, potential losses are subject to change due to, among other things, new developments, changes in legal strategy, the outcome of intermediate procedural and substantive rulings and other parties’ settlement posture and their evaluation of the strength or weakness of their case against us. For these reasons, we are currently unable to predict the ultimate timing or outcome of, or reasonably estimate the possible losses or a range of possible losses resulting from, the matters described above. Based on information currently available, the Company does not believe that any reasonably possible losses arising from currently pending legal matters will be material to the Company’s results of operations or financial condition. However, in light of the inherent uncertainties involved in such matters, an adverse outcome in one or more of these matters could materially and adversely affect the Company’s financial condition, results of operations or cash flows in any particular reporting period.

Subsequent Events (Notes)

Subsequent Events (Notes)	6 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 12 – SUBSEQUENT EVENTS Long-term Incentive Program On October 15, 2018, the Compensation Committee and Board approved and adopted a new long-term incentive program that seeks to motivate and reward certain employees and to align management’s interest with shareholders by focusing executives on the achievement of long-term results. We expect that this program will encourage intra- and inter-department asset allocation decisions for the long-term growth of the Company’s revenue and earnings and foster increased efficiency throughout the Company. The program is comprised of four components: Service Options, Performance Options, Restricted Stock, Performance Shares. Also, on October 15, 2018, pursuant to the long-term incentive program, the Compensation Committee approved certain grants of Service Options, Performance Options, Restricted Stock and Performance Shares under the World Acceptance Corporation 2011 Stock Option Plan and the World Acceptance Corporation 2017 Stock Incentive Plan to certain employees, including employee directors, vice presidents of operations, senior vice presidents, and the Company's executive officers. Under the long-term incentive program, up to 100% of the shares of restricted stock subject to the Performance Shares shall vest, if at all, based on the achievement of two, trailing earnings per share performance targets established by the Compensation Committee that are based on earnings per share (measured at the end of each calendar quarter, commencing with the calendar quarter ending September 30, 2019) for the previous four calendar quarters. The Performance Shares are eligible to vest over the Performance Share Measurement Period and subject to each respective employee’s continued employment at the Company through the last day of the applicable Performance Share Measurement Period (or as otherwise provided under the terms of the applicable award agreement or applicable employment agreement). A total of 351,000 Performance Shares were granted. The Performance Share performance targets are set forth below. Trailing 4-Quarter EPS Targets for September 30, 2018 through March 31, 2025 Restricted Stock Eligible for Vesting (Percentage of Award) $16.35 40% $20.45 60% The Restricted Stock awards will vest in six equal annual installments, beginning on the first anniversary of the grant date, subject to each respective employee’s continued employment at the Company through each applicable vesting date or otherwise provided under the terms of the applicable award agreement or applicable employment agreement. A total of 351,000 Restricted Stock awards were granted. The Service Options will vest in six equal annual installments, beginning on the first anniversary of the grant date, subject to each respective employee’s continued employment at the Company through each applicable vesting date or otherwise provided under the terms of the applicable award agreement or applicable employment agreement. The option price is equal to the fair market value of the common stock on the grant date and the Service Options shall have a 10-year term. A total of 160,500 Service Options were granted. The Performance Options shall fully vest if the Company attains the trailing earnings per share target over four consecutive calendar quarters occurring between September 30, 2018 and March 31, 2025 described below. Such performance target was established by the Compensation Committee and will be measured at the end of each calendar quarter commencing on September 30, 2019. The Performance Options are eligible to vest over the Option Measurement Period, subject to each respective employee’s continued employment at the Company through the last day of the Option Measurement Period or as otherwise provided under the terms of the applicable award agreement or applicable employment agreement. The option price is equal to the fair market value of the common stock on the grant date and the Performance Options shall have a 10-year term. A total of 115,830 Performance Options were granted. The Performance Option performance target is set forth below. Trailing 4-Quarter EPS Targets for September 30, 2018 through March 31, 2025 Options Eligible for Vesting (Percentage of Award) $25.30 100% Director Equity Grants On October 15, 2018, the Compensation Committee and Board approved the following equity awards to each of Messrs. Ken R. Bramlett, Jr., Charles D. Way and Darrell E. Whitaker: (i) 6,000 non-qualified stock options, and (ii) 4,998 shares of restricted stock. Both the non-qualified stock options and restricted stock awards shall vest and become exercisable in six equal annual increments beginning on October 15, 2019, the vesting of which is contingent upon continued service on the Board until the applicable vesting date. Grant-related Expense The Company expects to recognize the following estimated equity-based compensation expense both for the awards made under the long-term incentive program (as described above) and for the director equity awards as follows (in millions): FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Total Service-based Options $ 1.8 $ 3.2 $ 1.9 $ 1.3 $ 0.8 $ 0.4 $ 0.1 $ 9.5 Restricted stock 6.9 12.2 7.5 4.9 3.1 1.7 0.6 36.9 Total service-based expense $ 8.7 $ 15.4 $ 9.4 $ 6.2 $ 3.9 $ 2.1 $ 0.7 $ 46.4 Performance-based Options $ 0.5 $ 1.1 $ 1.1 $ 1.1 $ 1.1 $ 1.1 $ — $ 6.0 Restricted Stock 4.1 8.9 8.8 8.8 4.8 — — 35.4 Total performance-based expense $ 4.6 $ 10.0 $ 9.9 $ 9.9 $ 5.9 $ 1.1 $ — $ 41.4 Grand total expense $ 13.3 $ 25.4 $ 19.3 $ 16.1 $ 9.8 $ 3.2 $ 0.7 $ 87.8 The above estimates are subject to a number of factors which may cause actual equity-based compensation expense or future estimates to differ significantly. In particular, the performance-based awards are subject to the achievement of certain performance targets as described above. Both the service-based and performance-based awards are subject to continued service with the Company. Management is not aware of any other significant events occurring subsequent to the balance sheet date that would have a material effect on the financial statements thereby requiring adjustment or disclosure.

Discontinued Operations (Notes)

Discontinued Operations (Notes)	6 Months Ended
	Sep. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	NOTE 2 – DISCONTINUED OPERATIONS As previously disclosed, the Company sold all of the issued and outstanding capital stock and equity interest of WAC de Mexico and SWAC to the Purchasers, effective as of July 1, 2018, for a purchase price of approximately USD$44.36 million. The Company has provided, and may continue to provide, limited accounting assistance to the Purchasers, as requested. The Company has not and will not have any other involvement with the Mexico operating segment subsequent to the sale's effective date. The following table reconciles the major classes of assets and liabilities of discontinued operations to the amounts presented in the Consolidated Balance Sheet for March 31, 2018: March 31, 2018 Assets of discontinued operations: Cash and cash equivalents $ 19,612,471 Loans receivable, net 46,027,200 Property and equipment, net 2,805,467 Deferred income taxes, net 10,064,489 Other assets, net 965,770 Total assets of discontinued operations $ 79,475,397 Liabilities of discontinued operations: Income taxes payable 437,551 Accounts payable and accrued expenses 6,940,880 Total liabilities of discontinued operations $ 7,378,431 The following table reconciles the major classes of line items constituting pre-tax income (loss) of discontinued operations to the amounts presented in the Consolidated Statements of Operations: Three months ended September 30, Six months ended September 30, 2018 2017 2018 2017 Revenues — 12,076,480 9,693,367 24,347,537 Provision for loan losses — 6,151,574 1,809,059 9,282,005 General and administrative expenses — 8,141,339 5,542,483 14,850,242 Income from discontinued operations before disposal of discontinued operations and income taxes — (2,216,433 ) 2,341,825 215,290 Gain (loss) on disposal of discontinued operations 628,921 — (38,377,623 ) — Income taxes 150,343 19,833 626,583 592,325 Income (loss) from discontinued operations 478,578 (2,236,266 ) (36,662,381 ) (377,035 ) The following table presents operating, investing and financing cash flows for the Company’s discontinued operations: Six months ended September 30, 2018 2017 Cash provided by operating activities: $ 3,553,854 $ 10,860,701 Cash provided by (used in) investing activities: 1,138,084 (9,121,157 ) Cash provided by (used in) financing activities: $ (17,126,000 ) $ —

FAIR VALUE (Tables)

FAIR VALUE (Tables)	6 Months Ended
	Sep. 30, 2018
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]	summarized below. September 30, 2018 March 31, 2018 Input Level Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value ASSETS Cash and cash equivalents 1 $ 5,595,711 5,595,711 $ 12,473,833 12,473,833 Loans receivable, net 3 749,783,268 749,783,268 679,153,528 679,153,528 LIABILITIES Senior notes payable 3 230,190,000 230,190,000 244,900,000 244,900,000

ALLOWANCE FOR LOAN LOSSES (Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	6 Months Ended
	Sep. 30, 2018
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: September 30, March 31, September 30, Small loans $ 762,822,428 $ 670,189,211 $ 696,586,798 Large loans 363,969,159 334,041,731 327,325,734 Sales finance loans (1) 609 2,217 12,218 Total gross loans $ 1,126,792,196 $ 1,004,233,159 $ 1,023,924,750 (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 September 30, Six months ended September 30, 2018 2017 2018 2017 Balance at beginning of period $ 68,029,622 63,297,884 $ 66,088,139 $ 60,644,365 Provision for loan losses 40,358,696 32,824,398 70,949,315 60,534,025 Loan losses (32,572,205 ) (28,437,598 ) (65,013,346 ) (57,496,635 ) Recoveries 3,494,262 3,487,993 7,286,267 7,490,922 Balance at end of period $ 79,310,375 $ 71,172,677 $ 79,310,375 $ 71,172,677
Summary of loans individually and collectively evaluated for impairment	The following is a summary of loans individually and collectively evaluated for impairment for the period indicated: September 30, 2018 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 5,002,410 — 5,002,410 Gross loans contractually delinquent 54,677,031 — 54,677,031 Loans not contractually delinquent and not in bankruptcy — 1,067,112,755 1,067,112,755 Gross loan balance 59,679,441 1,067,112,755 1,126,792,196 Unearned interest and fees (12,519,916 ) (285,178,637 ) (297,698,553 ) Net loans 47,159,525 781,934,118 829,093,643 Allowance for loan losses (42,369,717 ) (36,940,658 ) (79,310,375 ) Loans, net of allowance for loan losses $ 4,789,808 744,993,460 749,783,268 March 31, 2018 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 4,627,599 — 4,627,599 Gross loans contractually delinquent 50,019,567 — 50,019,567 Loans not contractually delinquent and not in bankruptcy — 949,585,993 949,585,993 Gross loan balance 54,647,166 949,585,993 1,004,233,159 Unearned interest and fees (11,433,666 ) (247,557,826 ) (258,991,492 ) Net loans 43,213,500 702,028,167 745,241,667 Allowance for loan losses (38,782,574 ) (27,305,565 ) (66,088,139 ) Loans, net of allowance for loan losses $ 4,430,926 674,722,602 679,153,528 September 30, 2017 Loans individually evaluated for impairment (impaired loans) Loans collectively evaluated for impairment Total Gross loans in bankruptcy, excluding contractually delinquent $ 5,121,074 — 5,121,074 Gross loans contractually delinquent 49,683,327 — 49,683,327 Loans not contractually delinquent and not in bankruptcy — 969,120,349 969,120,349 Gross loan balance 54,804,401 969,120,349 1,023,924,750 Unearned interest and fees (11,330,664 ) (257,511,525 ) (268,842,189 ) Net loans 43,473,737 711,608,824 755,082,561 Allowance for loan losses (38,570,309 ) (32,602,368 ) (71,172,677 ) Loans, net of allowance for loan losses $ 4,903,428 679,006,456 683,909,884
Assessment of the credit quality	The following is an assessment of the credit quality for the period indicated: September 30, March 31, September 30, Credit risk Consumer loans- non-bankrupt accounts $ 1,120,466,940 $ 998,299,051 $ 1,017,563,556 Consumer loans- bankrupt accounts 6,325,256 5,934,108 6,361,194 Total gross loans $ 1,126,792,196 $ 1,004,233,159 $ 1,023,924,750 Consumer credit exposure Credit risk profile based on payment activity, performing $ 1,042,501,191 $ 929,400,862 948,326,694 Contractual non-performing, 60 or more days delinquent (1) 84,291,005 74,832,297 75,598,056 Total gross loans $ 1,126,792,196 $ 1,004,233,159 $ 1,023,924,750 Credit risk profile based on customer type New borrower $ 130,010,547 $ 104,762,628 $ 103,241,227 Former borrower 134,554,113 104,281,551 124,266,410 Refinance 843,003,017 778,115,097 777,540,110 Delinquent refinance 19,224,519 17,073,883 18,877,003 Total gross loans $ 1,126,792,196 $ 1,004,233,159 $ 1,023,924,750
Summary of the past due receivables	The following is a summary of the past due receivables as of: September 30, March 31, September 30, Contractual basis: 30-59 days past due $ 44,729,889 32,959,151 39,505,786 60-89 days past due 29,613,974 24,812,730 25,914,729 90 days or more past due 54,677,031 50,019,567 49,683,327 Total $ 129,020,894 107,791,448 115,103,842 Percentage of period-end gross loans receivable 11.5 % 10.7 % 11.2 %

AVERAGE SHARE INFORMATION (Tabl

AVERAGE SHARE INFORMATION (Tables)	6 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Summary of basic and diluted average common shares outstanding	The following is a summary of the basic and diluted average common shares outstanding: Three months ended September 30, Six months ended September 30, 2018 2017 2018 2017 Basic: Weighted average common shares outstanding (denominator) 9,072,160 8,713,638 9,063,524 8,700,489 Diluted: Weighted average common shares outstanding 9,072,160 8,713,638 9,063,524 8,700,489 Dilutive potential common shares securities 220,726 181,636 209,580 160,518 Weighted average diluted shares outstanding (denominator) 9,292,886 8,895,274 9,273,104 8,861,007

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2018
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: Six months ended September 30, 2018 2017 Dividend Yield —% —% Expected Volatility 53.02% 50.33% Average risk-free rate 2.84% 1.85% Expected Life 5.0 years 5.0 years
Tabular disclosure of performance shares vesting based on EPS targets [Table Text Block]
Summary schedule of stock option activity	ption activity for the six months ended September 30, 2018 was as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Options outstanding, beginning of period 497,728 $ 70.69 Granted during period 300 102.22 Exercised during period (25,276 ) 71.82 Forfeited during period (6,445 ) 72.40 Expired during period (600 ) 76.51 Options outstanding, end of period 465,707 $ 70.62 5.5 years $ 20,370,380 Options exercisable, end of period 273,157 $ 72.24 4.2 years $ 11,506,364
Intrinsic value of options exercised	The total intrinsic value of options exercised during the periods ended September 30, 2018 and 2017 was as follows: September 30, September 30, Three months ended $ 150,407 $ 451,718 Six months ended $ 1,091,547 $ 2,676,597
Summary of the status and changes restricted stock	A summary of the status of the Company’s restricted stock as of September 30, 2018 , and changes during the six months ended September 30, 2018 , are presented below: Shares Weighted Average Fair Value at Grant Date Outstanding at March 31, 2018 73,810 $ 65.74 Granted during the period 8,426 118.21 Vested during the period (2,712 ) 43.14 Forfeited during the period — — Outstanding at September 30, 2018 79,524 $ 72.07
Share-based compensation included as a component of net income	Total share-based compensation included as a component of net income during the three and six -month periods ended September 30, 2018 and 2017 was as follows: Three months ended September 30, Six months ended September 30, 2018 2017 2018 2017 Share-based compensation related to equity classified awards: Share-based compensation related to stock options $ 539,410 572,916 $ 1,063,637 $ 1,122,227 Share-based compensation related to restricted stock, net of adjustments and exclusive of cancellations 963,559 707,352 1,914,349 1,290,118 Total share-based compensation related to equity classified awards $ 1,502,969 1,280,268 $ 2,977,986 $ 2,412,345

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Sep. 30, 2018
Business Acquisition [Line Items]
Acquisition activity	ACQUISITIONS The Company evaluates each set of assets and activities it acquires to determine if the set meets the definition of a business according to FASB ASC Topic 805-10-55. Acquisitions meeting the definition of a business are accounted for as a business combination while all other acquisitions are accounted for as asset purchases. The following table sets forth the Company's acquisition activity for the six months ended September 30, 2018 and 2017 . Six months ended September 30, 2018 2017 Acquisitions: Number of branches acquired through business combinations 3 3 Number of loan portfolios acquired through asset purchases 28 24 Total acquisitions 31 27 Purchase price $ 12,015,872 $ 10,362,455 Tangible assets: Loans receivable, net 9,264,527 8,563,874 Property and equipment — 3,000 Total tangible assets 9,264,527 8,566,874 Excess of purchase prices over carrying value of net tangible assets $ 2,751,345 $ 1,795,581 Customer lists 2,596,345 1,660,581 Non-compete agreements 155,000 135,000 Goodwill — — Total intangible assets $ 2,751,345 $ 1,795,581 Acquisitions that are accounted for as business combinations typically result in one or more new branches. In such cases, the Company typically retains the existing employees and the branch location from the acquisition. The purchase price is allocated to the tangible assets and intangible assets acquired based upon their estimated fair market values at the acquisition date. The remainder is allocated to goodwill. The following table describes the Company's acquisition activity for the six months ended September 30, 2018 . No. Acquiree Name Acquiree State(s) Date 1 Customer Credit Corporation (1 branch) LA 8/13/2018 2 Your Credit, Inc. (1 branch) WI 8/24/2018 3 Noble Finance Corporation (1 branch) ID 9/28/2018 Acquisitions that are accounted for as asset purchases are typically limited to acquisitions of loan portfolios. The purchase price is allocated to the tangible assets and intangible assets acquired based upon their estimated fair market values at the acquisition date. In an asset purchase, no goodwill is recorded. The Company’s acquisitions include tangible assets (generally loans and furniture and equipment) and intangible assets (generally non-compete agreements, customer lists, and goodwill), both of which are recorded at their fair values, which are estimated pursuant to the processes described below. Acquired loans are valued at the net loan balance. Given the short-term nature of these loans, generally eight months , and that these loans are priced at current rates, management believes the net loan balances approximate their fair value. Furniture and equipment are valued at the specific purchase price as agreed to by both parties at the time of acquisition, which management believes approximates their fair values. Non-compete agreements are valued at the stated amount paid to the other party for these agreements, which the Company believes approximates the fair value. Customer lists are valued with a valuation model that utilizes the Company’s historical data to estimate the value of any acquired customer lists. Customer lists are allocated at a branch level and are evaluated for impairment at a branch level when a triggering event occurs in accordance with FASB ASC Topic 360-10-05. If a triggering event occurs, the impairment loss to the customer list is generally the remaining unamortized customer list balance. In most acquisitions, the original fair value of the customer list allocated to a branch is less than $100,000, and management believes that in the event a triggering event were to occur, the impairment loss to an unamortized customer list would be immaterial. The results of all acquisitions have been included in the Company’s Consolidated Financial Statements since the respective acquisition date. The pro forma impact of these branches as though they had been acquired at the beginning of the periods presented would not have a material effect on the results of operations as reported.
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The following table sets forth the Company's acquisition activity for the six months ended September 30, 2018 and 2017 . Six months ended September 30, 2018 2017 Acquisitions: Number of branches acquired through business combinations 3 3 Number of loan portfolios acquired through asset purchases 28 24 Total acquisitions 31 27 Purchase price $ 12,015,872 $ 10,362,455 Tangible assets: Loans receivable, net 9,264,527 8,563,874 Property and equipment — 3,000 Total tangible assets 9,264,527 8,566,874 Excess of purchase prices over carrying value of net tangible assets $ 2,751,345 $ 1,795,581 Customer lists 2,596,345 1,660,581 Non-compete agreements 155,000 135,000 Goodwill — — Total intangible assets $ 2,751,345 $ 1,795,581

Discontinued Operations Reconci

Discontinued Operations Reconciliation to consolidated balance sheet (Tables)	6 Months Ended
	Sep. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	The following table reconciles the major classes of assets and liabilities of discontinued operations to the amounts presented in the Consolidated Balance Sheet for March 31, 2018: March 31, 2018 Assets of discontinued operations: Cash and cash equivalents $ 19,612,471 Loans receivable, net 46,027,200 Property and equipment, net 2,805,467 Deferred income taxes, net 10,064,489 Other assets, net 965,770 Total assets of discontinued operations $ 79,475,397 Liabilities of discontinued operations: Income taxes payable 437,551 Accounts payable and accrued expenses 6,940,880 Total liabilities of discontinued operations $ 7,378,431

Discontinued Operations Recon_2

Discontinued Operations Reconciliation to consolidated statement of operations (Tables)	6 Months Ended
	Sep. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Groups, Including Discontinued Operations [Table Text Block]	The following table reconciles the major classes of line items constituting pre-tax income (loss) of discontinued operations to the amounts presented in the Consolidated Statements of Operations: Three months ended September 30, Six months ended September 30, 2018 2017 2018 2017 Revenues — 12,076,480 9,693,367 24,347,537 Provision for loan losses — 6,151,574 1,809,059 9,282,005 General and administrative expenses — 8,141,339 5,542,483 14,850,242 Income from discontinued operations before disposal of discontinued operations and income taxes — (2,216,433 ) 2,341,825 215,290 Gain (loss) on disposal of discontinued operations 628,921 — (38,377,623 ) — Income taxes 150,343 19,833 626,583 592,325 Income (loss) from discontinued operations 478,578 (2,236,266 ) (36,662,381 ) (377,035 )

Discontinued Operations Cash fl

Discontinued Operations Cash flow disposal group (Tables)	6 Months Ended
	Sep. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	The following table presents operating, investing and financing cash flows for the Company’s discontinued operations: Six months ended September 30, 2018 2017 Cash provided by operating activities: $ 3,553,854 $ 10,860,701 Cash provided by (used in) investing activities: 1,138,084 (9,121,157 ) Cash provided by (used in) financing activities: $ (17,126,000 ) $ —

SUMMARY OF SIGNIFICANT POLICI_2

SUMMARY OF SIGNIFICANT POLICIES Accounting Standards (Details)	Mar. 31, 2018USD ($)
Accounting Policies [Abstract]
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 2,405,329

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($)	Sep. 30, 2018	Mar. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes payable	$ 230,190,000	$ 244,900,000
Reported Value Measurement [Member] | Senior notes payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes payable	230,190,000	244,900,000
Estimate of Fair Value Measurement [Member] | Senior notes payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes payable	230,190,000	244,900,000
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	5,595,711	12,473,833
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	5,595,711	12,473,833
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Receivables, Fair Value Disclosure	749,783,268	679,153,528
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	$ 749,783,268	$ 679,153,528

RECEIVABLES AND ALLOWANCE FOR L

RECEIVABLES AND ALLOWANCE FOR LOAN LOSSES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017
Financing Receivable, Impaired [Line Items]
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment			$ 44,200,000	$ 40,000,000
Allowance for Loan Losses [Roll Forward]
Balance at beginning of period	$ 68,029,622	$ 63,297,884	66,088,139	60,644,365
Provision for loan losses	40,358,696	32,824,398	70,949,315	60,534,025
Loan losses	(32,572,205)	(28,437,598)	(65,013,346)	(57,496,635)
Recoveries	3,494,262	3,487,993	7,286,267	7,490,922
Balance at end of period	79,310,375	71,172,677	79,310,375	71,172,677
Summary of loans individually and collectively evaluated for impairment [Abstract]
Bankruptcy, gross loans					$ 5,002,410	$ 4,627,599	$ 5,121,074
91 days or more delinquent, excluding bankruptcy					54,677,031	50,019,567	49,683,327
Loans less than 91 days delinquent and not in bankruptcy					1,067,112,755	949,585,993	969,120,349
Loans and Leases Receivable, Gross					1,126,792,196	1,004,233,159	1,023,924,750
Unearned interest and fees					(297,698,553)	(258,991,492)	(268,842,189)
Net loans					829,093,643	745,241,667	755,082,561
Allowance for loan losses	(68,029,622)	(63,297,884)	(66,088,139)	(60,644,365)	(79,310,375)	(66,088,139)	(71,172,677)
Loans receivable, net					749,783,268	679,153,528	683,909,884
Loans individually evaluated for impairment (impaired loans) [Member]
Allowance for Loan Losses [Roll Forward]
Balance at beginning of period			38,782,574
Balance at end of period	42,369,717	38,570,309	42,369,717	38,570,309
Summary of loans individually and collectively evaluated for impairment [Abstract]
Bankruptcy, gross loans					5,002,410	4,627,599	5,121,074
91 days or more delinquent, excluding bankruptcy					54,677,031	50,019,567	49,683,327
Loans less than 91 days delinquent and not in bankruptcy					0	0	0
Loans and Leases Receivable, Gross					59,679,441	54,647,166	54,804,401
Unearned interest and fees					(12,519,916)	(11,433,666)	(11,330,664)
Net loans					47,159,525	43,213,500	43,473,737
Allowance for loan losses	(42,369,717)	(38,570,309)	(38,782,574)	(38,570,309)	(42,369,717)	(38,782,574)	(38,570,309)
Loans receivable, net					4,789,808	4,430,926	4,903,428
Loans collectively evaluated for impairment [Member]
Allowance for Loan Losses [Roll Forward]
Balance at beginning of period			27,305,565
Balance at end of period	36,940,658	32,602,368	36,940,658	32,602,368
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					1,067,112,755	949,585,993	969,120,349
Loans and Leases Receivable, Gross					1,067,112,755	949,585,993	969,120,349
Unearned interest and fees					(285,178,637)	(247,557,826)	(257,511,525)
Net loans					781,934,118	702,028,167	711,608,824
Allowance for loan losses	$ (36,940,658)	$ (32,602,368)	$ (27,305,565)	$ (32,602,368)	(36,940,658)	(27,305,565)	(32,602,368)
Loans receivable, net					$ 744,993,460	$ 674,722,602	$ 679,006,456

ALLOWANCE FOR LOAN LOSSES (Asse

ALLOWANCE FOR LOAN LOSSES (Assessment of Credit Quality) (Details) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2018
Financing Receivable, Recorded Investment [Line Items]
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment	$ 44,200,000	$ 40,000,000
Gross loan balance	1,126,792,196	1,023,924,750	$ 1,004,233,159
Consumer loans- non-bankrupt accounts [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	1,120,466,940	1,017,563,556	998,299,051
Consumer loans- bankrupt accounts [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	6,325,256	6,361,194	5,934,108
Performing Financing Receivable [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	1,042,501,191	948,326,694	929,400,862
Nonperforming Financial Instruments [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Nonperforming, Nonaccrual of Interest	84,291,005	75,598,056	74,832,297
New borrower [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	130,010,547	103,241,227
New borrower [Member] | New borrower [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance			104,762,628
Former borrower [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	134,554,113	124,266,410
Former borrower [Member] | Former borrower [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance			104,281,551
Refinance [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	843,003,017	777,540,110
Refinance [Member] | Refinance [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance			778,115,097
Delinquent refinance [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance	$ 19,224,519	$ 18,877,003
Delinquent refinance [Member] | Delinquent refinance [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross loan balance			$ 17,073,883

ALLOWANCE FOR LOAN LOSSES (Summ

ALLOWANCE FOR LOAN LOSSES (Summary of Past Due Receivables) (Details) - USD ($)	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans and Leases Receivable, Allowance	$ (79,310,375)	$ (68,029,622)	$ (66,088,139)	$ (71,172,677)	$ (63,297,884)	$ (60,644,365)
Financing Receivable, Bankruptcy	5,002,410		$ 4,627,599	5,121,074
Financing Receivable, Recorded Investment, Past Due	$ 129,020,894
Financing Receivable, Percent Past Due	11.50%		10.70%
Financing Receivables, Delinquent, excluding bankruptcy	$ 54,677,031		$ 50,019,567	49,683,327
Financing Receivables Less Than Ninety One Days Delinquent Excluding Bankruptcy	1,067,112,755		949,585,993	969,120,349
Loans and Leases Receivable, Gross	1,126,792,196		1,004,233,159	1,023,924,750
Financing Receivable Individually Evaluated for Impairment Unearned Interest and Fees	297,698,553		258,991,492	268,842,189
Loans and Leases Receivable, Net of Deferred Income	829,093,643		745,241,667	755,082,561
Loans and Leases Receivable, Net Amount	749,783,268		679,153,528	683,909,884
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	44,729,889		32,959,151
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	29,613,974		24,812,730	25,914,729
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	$ 54,677,031		50,019,567	49,683,327
Contractual basis [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due			$ 107,791,448	$ 115,103,842
Financing Receivable, Percent Past Due				11.20%
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				$ 39,505,786

ALLOWANCE FOR LOAN LOSSES Finan

ALLOWANCE FOR LOAN LOSSES Financing Receivables (Details) - USD ($)	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	$ 1,126,792,196	$ 1,004,233,159	$ 1,023,924,750
Small loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	762,822,428	670,189,211	696,586,798
Large loans [Member] [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	363,969,159	334,041,731	327,325,734
Sales finance loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Gross	$ 609	$ 2,217	$ 12,218

AVERAGE SHARE INFORMATION (Deta

AVERAGE SHARE INFORMATION (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2018
Basic:
Weighted average common shares outstanding (in shares)	9,072,160	8,713,638	9,063,524	8,700,489
Diluted:
Weighted average common shares outstanding (in shares)	9,072,160	8,713,638	9,063,524	8,700,489
Dilutive potential common shares stock options (in shares)			209,580	160,518
Weighted average diluted shares outstanding (in shares)	9,292,886	8,895,274	9,273,104	8,861,007
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	468,253	295,550	477,357	455,912
Net Income (Loss) Attributable to Parent	$ 14,537,645	$ 9,799,345	$ (6,965,649)	$ 22,867,031	$ 53,690,018
Earnings Per Share, Basic	$ 1.60	$ 1.12	$ (0.77)	$ 2.63
Earnings Per Share, Diluted	$ 1.56	$ 1.10	$ (0.75)	$ 2.58

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Document Fiscal Year Focus			2,019
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	468,253	295,550	477,357	455,912
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate			0.00%	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate			53.02%	50.33%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate			2.84%	1.85%
Stock Option Plans [Abstract]
Number of shares available for grant (in shares)	1,256,768		1,256,768
Weighted-average fair value at the grant date			$ 49.67	$ 22.79
Options Activity [Roll Forward]
Exercised (in shares)			(25,276)		(389,888)
Restricted Stock [Abstract]
Grant date fair value (in dollars per share)					$ 107.52	$ 51.15
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Grant date fair value (in dollars per share)					$ 107.52	$ 51.15
Compensation related to stock option and restricted stock plans			$ 2,977,986	$ 2,412,345
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term			5 years	5 years
Stock Options Plans [Member]
Stock Option Plans [Abstract]
Shares of authorized common stock reserved for issuance (in shares)	4,950,000		4,950,000
Options Activity [Roll Forward]
Options outstanding, beginning of year (in shares)			497,728
Granted (in shares)			300
Exercised (in shares)			(25,276)
Forfeited (in shares)			(6,445)
Expired (in shares)			(600)
Options outstanding, end of period (in shares)	465,707		465,707		497,728
Options exercisable, end of period (in shares)	273,157		273,157
Weighted Average Exercise Price [Roll Forward]
Options outstanding, beginning of year (in dollars per share)			$ 70.69
Granted (in dollars per share)			102.22
Exercised (in dollars per share)			71.82
Forfeited (in dollars per share)			72.40
Expired (in dollars per share)			76.51
Options outstanding, end of period (in dollars per share)	$ 70.62		70.62		$ 70.69
Options exercisable, end of period (in dollars per share)	$ 72.24		$ 72.24
Stock Option Activity Additional Disclosures [Abstract]
Weighted-average remaining contractual term, Options outstanding, end of period			5 years 5 months 16 days
Weighted-average remaining contractual terms, Options exercisable, end of period			4 years 2 months 1 day
Aggregate intrinsic value, Options outstanding, end of period	$ 20,370,380		$ 20,370,380
Aggregate intrinsic value, Options exercisable, end of period	11,506,364		11,506,364
Intrinsic value of options exercised	150,407	$ 451,718	1,091,547	$ 2,676,597
Compensation Cost Not yet Recognized [Abstract]
Total unrecognized stock-based compensation expense related to non-vested stock options	1,300,000		$ 1,300,000
Weighted average period for recognition			1 year 9 months
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Weighted average period for recognition			1 year 9 months
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Compensation related to stock option and restricted stock plans	539,410	572,916	$ 1,063,637	1,122,227
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross					24,456	74,490
Restricted Stock [Abstract]
Grant date fair value (in dollars per share)			$ 118.21
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	$ 2,400,000		$ 2,400,000
Summary of the status and changes in restricted stock [Roll Forward]
Outstanding at Beginning of Year (in shares)			73,810
Awards granted (in shares)			8,426
Vested during the period, net of cancellations (in shares)			(2,712)
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited			0
Outstanding at End of Period (in shares)	79,524		79,524		73,810
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at March 31, 2012 (in dollars per share)			$ 65.74
Grant date fair value (in dollars per share)			118.21
Vested during the period, net of cancellations (in dollars per share)			43.14
Cancelled during the period (in dollars per share)			0
Outstanding at June 30, 2012 (in dollars per share)	$ 72.07		$ 72.07		$ 65.74
Compensation related to stock option and restricted stock plans	$ 963,559	707,352	$ 1,914,349	1,290,118
Equity Securities [Member]
Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Compensation related to stock option and restricted stock plans	$ 1,502,969	$ 1,280,268	$ 2,977,986	$ 2,412,345
Performance Shares [Member]
Compensation Cost Not yet Recognized [Abstract]
Weighted average period for recognition			2 years 1 month 21 days
Schedule of vesting of restricted shares on basis of compounded annual EPS growth [Abstract]
Weighted average period for recognition			2 years 1 month 21 days
Maximum [Member] | Stock Options Plans [Member]
Stock Option Plans [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Vesting period			5 years
Minimum [Member] | Stock Options Plans [Member]
Stock Option Plans [Abstract]
Vesting period			3 years

ACQUISITIONS (Details)

ACQUISITIONS (Details)	6 Months Ended
	Sep. 30, 2018USD ($)acquisition	Sep. 30, 2017USD ($)acquisition
Business Acquisition [Line Items]
Number of offices purchased | acquisition	3
Average contractual loan terms	8 months
Number of Businesses Acquired | acquisition		3
Number Of Offices Purchased and Merged into Existing Offices | acquisition	28	24
Total acquisitions | acquisition	31	27
Purchase Price		$ 10,362,455
Business Combination, Acquired Receivable, Fair Value	$ 9,264,527	8,563,874
Intangible Assets, Net (Including Goodwill)	2,751,345	1,795,581
Furniture, fixtures & equipment	0	3,000
Total tangible assets	9,264,527	8,566,874
Finite-Lived Customer Lists, Gross	2,596,345	1,660,581
Finite-Lived Noncompete Agreements, Gross	155,000	135,000
Goodwill, Fair Value Disclosure	0	$ 0
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Purchase Price	$ 12,015,872

DEBT (Details)

DEBT (Details) - USD ($)	6 Months Ended
	Sep. 30, 2018	Mar. 31, 2018
Line of Credit Facility [Line Items]
Letters of Credit Outstanding, Amount	$ 300,000
Basis spread on variable rate (in hundredths)	4.00%
Debt Instrument, Interest Rate, Effective Percentage	6.81%	5.98%
Debt Instrument, Unused Borrowing Capacity, Fee	$ 0.0050
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	480,000,000
Amount outstanding	$ 230,200,000
Reference rate	LIBOR
Unused amount available	$ 249,500,000
Expiration date	Jun. 15, 2020
Base Rate [Member]
Line of Credit Facility [Line Items]
Reference rate	.05

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2018
Income Tax Contingency [Line Items]
Proceeds from Equity Method Investment, Distribution, Return of Capital			$ 17,100,000
Total gross unrecognized tax benefits including interest	$ 9,632,932	$ 8,809,626	9,632,932
Unrecognized tax benefits that are permanent in nature and, if recognized, would affect the annual effective tax rate	7,713,138	$ 6,884,299	7,713,138
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	4,164,306		4,164,306
Accrued gross interest	$ 2,725,865		2,725,865
Current period gross interest expense			$ 862,465
Effective Income Tax Rate Reconciliation, Percent	20.40%	35.10%

Discontinued Operations Recon_3

Discontinued Operations Reconciliation to consolidated balance sheet (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2018	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Revenue	$ 0	$ 12,076,480	$ 9,693,367	$ 24,347,537
Disposal Group, Including Discontinued Operation, Other Expense	0	6,151,574	1,809,059	9,282,005
Provision for Loan and Lease Losses	40,358,696	32,824,398	70,949,315	60,534,025
Disposal Group, Including Discontinued Operation, General and Administrative Expense	0	8,141,339	5,542,483	14,850,242
General and Administrative Expense	64,935,848	62,767,412	132,713,203	128,975,598
Interest Expense	4,157,999	4,790,744	8,383,000	9,037,446
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	0	(2,216,433)	2,341,825	215,290
Discontinued Operation, Tax Effect of Discontinued Operation	150,343	19,833	626,583	592,325
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	478,578	(2,236,266)	(36,662,381)	(377,035)
Cash and cash equivalents	$ 0	$ 5,442,591	0	5,442,591	$ 19,612,471	$ 3,618,474
Gross loans receivable					46,027,200
Property and equipment, net					2,805,467
Deferred income taxes, net					10,064,489
Other assets, net					965,770
Total assets held for sale					79,475,397
Income taxes payable					437,551
Accounts payable and accrued expenses					6,940,880
Disposal Group, Including Discontinued Operation, Liabilities					$ 7,378,431
Parent Company [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Provision for Loan and Lease Losses			$ 70,949,315	$ 69,816,030

Discontinued Operations Cash _2

Discontinued Operations Cash flow for discontinued operations (Details) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]
Cash Provided by (Used in) Operating Activities, Discontinued Operations	$ 3,553,854	$ 10,860,701
Cash Provided by (Used in) Investing Activities, Discontinued Operations	1,138,084	(9,121,157)
Cash Provided by (Used in) Financing Activities, Discontinued Operations	$ (17,126,000)	$ 0