NOTE 11 – SEGMENTS

At March 31, 2017 only the U.S. operating segment met one or more of the quantitative thresholds that trigger separately disclosed reporting as outlined in FASB Accounting Standards Codification 280, Segment Reporting. However, management believes separately disclosed information about the Mexico operating segment would be useful to readers of the financial statements. Therefore, the Company has two reportable segments, which are the U.S. and Mexico components.

The following table presents operating results for the Company’s two reportable segments:



	Three months ended December 31,				Nine months ended December 31,
	2017			2016	2017			2016
Revenues:
U.S.	$	125,702,639		120,510,039	$	361,270,056		356,187,410
Mexico	11,231,128			10,304,803	35,578,665			30,976,504
Consolidated revenues	136,933,767			130,814,842	396,848,721			387,163,914

Provision for loan losses:
U.S.	$	40,455,513		37,563,370	$	100,989,538		100,911,353
Mexico	3,299,392			2,421,468	12,581,397			6,958,506
Consolidated provision for loan losses	43,754,905			39,984,838	113,570,935			107,869,859

General and administrative expenses:⁽¹⁾
U.S.	$	68,680,112		65,216,354	$	193,825,300		180,147,990
Mexico	4,206,273			6,020,424	22,886,925			17,493,081
Consolidated general and administrative expenses	72,886,385			71,236,778	216,712,225			197,641,071

Interest expense:⁽²⁾
U.S.	$	5,000,504		5,274,436	$	14,037,950		16,379,633
Mexico	—			—	—			—
Consolidated interest expense	5,000,504			5,274,436	14,037,950			16,379,633

Income tax expense (benefit):
U.S.	$	13,729,880		4,405,439	$	28,979,799		21,677,028
Mexico	(118,124		)	273,318	(999,436		)	1,846,871
Consolidated income tax expense	13,611,756			4,678,757	27,980,363			23,523,899

Net income (loss):
U.S.	$	(2,163,370	)	8,050,440	$	23,437,469		37,071,406
Mexico	3,843,587			1,589,593	1,109,779			4,678,046
Consolidated net income	1,680,217			9,640,033	24,547,248			41,749,452

⁽¹⁾

In accordance with transfer pricing agreements between the segments, the Mexico segment reimburses the U.S. segment for personnel-related and other administrative costs incurred by the U.S. segment for the benefit of the Mexico segment. For the three months ended December 31, 2017 and 2016 these charges totaled -$3.2 million ($1.1 million in charges net of approximately $4.3 million of expense related to the investigation into the Company's Mexico operations) and $0.4 million, respectively. For the nine months ended December 31, 2017 and 2016 these charges totaled $1.0 million ($5.3 million in charges net of approximately $4.3 million of expense related to the investigation into the Company's Mexico operations) and $0.1 million ($1.2 million in charges net of approximately $1.1 million of expense reversal related to the retirement of the previous Senior Vice President of Mexico), respectively.


⁽²⁾	In accordance with the Company's revolving credit facility, substantially all of the Company’s assets, excluding the Company’s Mexico subsidiaries, are pledged as collateral. Any working capital contributions made by the U.S. segment to the Mexico segment are treated as contributions of capital. Therefore, the Mexico segment incurs no interest expense.

The following table presents long-lived assets (other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets) for the Company’s two reportable segments:



	December 31, 2017		March 31, 2017
Total long-lived assets
U.S.	$	22,174,609	20,724,777
Mexico	2,797,971		3,459,430
Consolidated total long-lived assets	24,972,580		24,184,207

The following table presents total assets for the Company’s two reportable segments:



	December 31, 2017		March 31, 2017
Total assets
U.S.	$	836,496,036	730,985,558
Mexico	69,595,000		69,603,217
Consolidated total assets	906,091,036		800,588,775