10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2017

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 1-35503

Enova International, Inc.

(Exact name of registrant as specified in its charter)

Delaware	45-3190813
(State or other jurisdiction of Incorporation or organization)	(I.R.S. Employer Identification No.)
175 West Jackson Blvd. Chicago, Illinois	60604
(Address of principal executive offices)	(Zip Code)

(312) 568-4200

(Registrant’s telephone number, including area code)

NONE

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes  ☒    No  ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes  ☒    No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer	☐	Accelerated filer	☒
Non-accelerated filer	☐  (Do not check if a smaller reporting company)	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  ☐    No  ☒

33,464,780 of the Registrant’s common shares, $.00001 par value, were outstanding as of October 30, 2017.

CAUTIONARY NOTE CONCERNING FACTORS THAT MAY AFFECT FUTURE RESULTS

This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on these statements. These forward-looking statements give current expectations or forecasts of future events and reflect the views and assumptions of senior management with respect to the business, financial condition, operations and prospects of Enova International, Inc. and its subsidiaries (collectively, the “Company”). When used in this report, terms such as “believes,” “estimates,” “should,” “could,” “would,” “plans,” “expects,” “intends,” “anticipates,” “may,” “forecast,” “project” and similar expressions or variations as they relate to the Company or its management are intended to identify forward-looking statements. Forward-looking statements address matters that involve risks and uncertainties that are beyond the ability of the Company to control and, in some cases, predict. Accordingly, there are or will be important factors that could cause the Company’s actual results to differ materially from those indicated in these statements. Key factors that could cause the Company’s actual financial results, performance or condition to differ from the expectations expressed or implied in such forward-looking statements include, but are not limited to, the following:

• the effect of laws and regulations targeting our industry that directly or indirectly regulate or prohibit our operations or render them unprofitable or impractical;

• the effect of and compliance with domestic and international consumer credit, tax and other laws and government rules and regulations applicable to our business, including changes in such laws, rules and regulations, or changes in the interpretation or enforcement thereof, and the regulatory and examination authority of the Consumer Financial Protection Bureau with respect to providers of consumer financial products and services in the United States and the Financial Conduct Authority in the United Kingdom;

• changes in our United Kingdom (“U.K.”) business practices in response to the requirements of the Financial Conduct Authority;

• the effect of and compliance with enforcement actions, orders and agreements issued by applicable regulators, such as the November 2013 Consent Order issued by the Consumer Financial Protection Bureau;

• our ability to process or collect payments through the Automated Clearing House system;

• the deterioration of the political, regulatory or economic environment in countries where we operate or in the future may operate;

• the actions of third parties who provide, acquire or offer products and services to, from or for us;

• public and regulatory perception of the consumer loan business, the receivables purchases industry and our business practices;

• the effect of any current or future litigation proceedings and any judicial decisions or rulemaking that affects us, our products or the legality or enforceability of our arbitration agreements;

• changes in demand for our services, changes in competition and the continued acceptance of the online channel by our customers;

• changes in our ability to satisfy our debt obligations or to refinance existing debt obligations or obtain new capital to finance growth;

• a prolonged interruption in the operations of our facilities, systems and business functions, including our information technology and other business systems;

• our ability to maintain an allowance or liability for estimated losses on loans and finance receivables that is adequate to absorb losses;

• compliance with laws and regulations applicable to our international operations, including anti-corruption laws such as the Foreign Corrupt Practices Act and the U.K. Bribery Act 2010 and international anti-money laundering, trade and economic sanctions laws;

• our ability to attract and retain qualified officers;

• interest rate and foreign currency exchange rate fluctuations;

• the time and costs associated with our exit from the Canadian and Australian markets;

• cyber-attacks or security breaches;

• acts of God, war or terrorism, pandemics and other events;

• the ability to successfully integrate acquired businesses into our operations;

• changes in the capital markets, including the debt and equity markets;

• the effect of any of the above changes on our business or the markets in which we operate; and

• other risks and uncertainties described herein.

The foregoing list of factors is not exhaustive and new factors may emerge or changes to these factors may occur that would impact the Company’s business and cause actual results to differ materially from those expressed in any of our forward-looking statements. Additional information regarding these and other factors may be contained in the Company’s filings with the Securities and Exchange Commission (the “SEC”). Readers of this report are encouraged to review all of the Risk Factors contained in the Company’s filings with the SEC to obtain more detail about the Company’s risks and uncertainties. All forward-looking statements involve risks, assumptions and uncertainties. The occurrence of the events described, and the achievement of the expected results, depends on many events, some or all of which are not predictable or within the Company’s control. If one or more events related to these or other risks or uncertainties materialize, or if management’s underlying assumptions prove to be incorrect, actual results may differ materially from what the Company anticipates. The forward-looking statements in this report are made as of the date of this report, and the Company disclaims any intention or obligation to update or revise any forward-looking statements to reflect events or circumstances occurring after the date of this report. All forward-looking statements in this report are expressly qualified in their entirety by the foregoing cautionary statements.

ENOVA INTERNATIONAL, INC.

INDEX TO FORM 10-Q

		Page
PART I. FINANCIAL INFORMATION
Item 1.	Financial Statements (Unaudited)
	Consolidated Balance Sheets – September 30, 2017 and 2016 and December 31, 2016	1
	Consolidated Statements of Income – Three and Nine Months Ended September 30, 2017 and 2016	2
	Consolidated Statements of Comprehensive Income – Three and Nine Months Ended September 30, 2017 and 2016	3
	Consolidated Statements of Stockholders’ Equity – Three and Nine Months Ended September 30, 2017 and 2016	4
	Consolidated Statements of Cash Flows – Three and Nine Months Ended September 30, 2017 and 2016	5
	Notes to Consolidated Financial Statements	6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	38
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	60
Item 4.	Controls and Procedures	60
PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	61
Item 1A.	Risk Factors	61
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	65
Item 3.	Defaults upon Senior Securities	65
Item 4.	Mine Safety Disclosures	65
Item 5.	Other Information	65
Item 6.	Exhibits	66
SIGNATURES		67

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(dollars in thousands, except per share data)

(Unaudited)

	September 30,						December 31,
	2017			2016			2016
Assets
Cash and cash equivalents	$	110,054		$	45,681		$	39,934
Restricted cash and cash equivalents (includes restricted cash of consolidated VIEs of $22,161, $18,119 and $19,468 as of September 30, 2017 and 2016 and December 31, 2016, respectively)		29,866			39,272			26,306
Loans and finance receivables, net (includes loans of consolidated VIEs of $296,478, $191,534 and $234,497 and allowance for losses of $22,115, $15,518 and $17,731 as of September 30, 2017 and 2016 and December 31, 2016, respectively)		637,736			542,865			561,550
Income taxes receivable		9,319			—			—
Other receivables and prepaid expenses		23,796			18,649			19,524
Property and equipment, net		46,557			47,486			47,100
Goodwill		267,015			267,012			267,010
Intangible assets, net		4,593			5,675			5,404
Other assets		10,842			8,439			11,051
Total assets	$	1,139,778		$	975,079		$	977,879
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	$	78,897		$	85,433		$	71,671
Income taxes currently payable		—			5,149			282
Deferred tax liabilities, net		20,681			16,233			14,316
Long-term debt (includes long-term debt of consolidated VIEs of $186,533, $136,953 and $165,419 and debt issuance costs of $762, $2,416 and $1,869, as of September 30, 2017 and 2016 and December 31, 2016, respectively)		765,395			635,179			649,911
Total liabilities		864,973			741,994			736,180
Commitments and contingencies (Note 8)
Stockholders' equity:
Common stock, $0.00001 par value, 250,000,000 shares authorized, 33,828,668, 33,260,017 and 33,364,525 shares issued and 33,608,611, 33,214,594 and 33,293,100 outstanding as of September 30, 2017 and 2016 and December 31, 2016, respectively		—			—			—
Preferred stock, $0.00001 par value, 25,000,000 shares authorized, no shares issued and outstanding		—			—			—
Additional paid in capital		26,749			16,338			18,446
Retained earnings		257,812			226,741			235,455
Accumulated other comprehensive loss		(7,017	)		(9,692	)		(11,578	)
Treasury stock, at cost (220,057, 45,423 and 71,425 shares as of September 30, 2017 and 2016 and December 31, 2016, respectively)		(2,739	)		(302	)		(624	)
Total stockholders' equity		274,805			233,085			241,699
Total liabilities and stockholders' equity	$	1,139,778		$	975,079		$	977,879

See notes to consolidated financial statements.

1

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share data)

(Unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017			2016
Revenue	$	217,878		$	195,943		$	600,045		$	543,131
Cost of Revenue		107,341			95,391			269,087			230,421
Gross Profit		110,537			100,552			330,958			312,710
Expenses
Marketing		27,000			26,722			69,993			73,500
Operations and technology		27,163			20,637			72,512			61,706
General and administrative		25,164			21,307			77,105			76,747
Depreciation and amortization		3,533			3,789			10,396			12,004
Total Expenses		82,860			72,455			230,006			223,957
Income from Operations		27,677			28,097			100,952			88,753
Interest expense, net		(18,292	)		(16,117	)		(52,526	)		(48,058	)
Foreign currency transaction gain		65			145			354			2,184
Loss on early extinguishment of debt		(14,927	)		—			(14,927	)		—
(Loss) Income before Income Taxes		(5,477	)		12,125			33,853			42,879
(Benefit from) provision for income taxes		(2,109	)		4,288			11,496			16,991
Net (Loss) Income	$	(3,368	)	$	7,837		$	22,357		$	25,888
Earnings Per Share:
Net (loss) income per common share:
Basic	$	(0.10	)	$	0.24		$	0.67		$	0.78
Diluted	$	(0.10	)	$	0.23		$	0.66		$	0.78
Weighted average common shares outstanding:
Basic		33,670			33,211			33,533			33,176
Diluted		33,670			33,558			34,119			33,360

See notes to consolidated financial statements.

2

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)

(Unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017		2016
Net (Loss) Income	$	(3,368	)	$	7,837		$	22,357	$	25,888
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)(1)		2,052			(1,245	)		4,561		(5,070	)
Total other comprehensive gain (loss), net of tax		2,052			(1,245	)		4,561		(5,070	)
Comprehensive (Loss) Income	$	(1,316	)	$	6,592		$	26,918	$	20,818

(1) Net of tax (provision) benefit of $(1,161) and $707 for the three months ended September 30, 2017 and 2016, respectively, and $(2,578) and $2,860 for the nine months ended September 30, 2017 and 2016, respectively.

See notes to consolidated financial statements.

3

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(in thousands)

(Unaudited)

									Accumulated
					Additional				Other									Total
	Common Stock				Paid in		Retained		Comprehensive			TreasuryStock, at cost						Stockholders’
	Shares		Amount		Capital		Earnings		Loss			Shares			Amount			Equity
Balance at December 31, 2015		33,151	$	—	$	9,924	$	200,853	$	(4,622	)		(29	)	$	(187	)	$	205,968
Stock-based compensation expense				—		6,414		—		—						—			6,414
Shares issued under stock-based plans		109		—		—		—		—						—			—
Net income				—		—		25,888		—						—			25,888
Foreign currency translation loss, net of tax				—		—		—		(5,070	)					—			(5,070	)
Purchases of treasury shares, at cost				—		—		—		—			(16	)		(115	)		(115	)
Balance at September 30, 2016		33,260	$	—	$	16,338	$	226,741	$	(9,692	)		(45	)	$	(302	)	$	233,085
Balance at December 31, 2016		33,365	$	—	$	18,446	$	235,455	$	(11,578	)		(71	)	$	(624	)	$	241,699
Stock-based compensation expense				—		8,303		—		—						—			8,303
Shares issued under stock-based plans		464		—		—		—		—						—			—
Net income				—		—		22,357		—						—			22,357
Foreign currency translation gain, net of tax				—		—		—		4,561						—			4,561
Purchases of treasury shares, at cost				—		—		—		—			(149	)		(2,115	)		(2,115	)
Balance at September 30, 2017		33,829	$	—	$	26,749	$	257,812	$	(7,017	)		(220	)	$	(2,739	)	$	274,805

See notes to consolidated financial statements.

4

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(Unaudited)

	Nine Months Ended
	September 30,
	2017			2016
Cash Flows from Operating Activities
Net Income	$	22,357		$	25,888
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		10,396			12,004
Amortization of deferred loan costs and debt discount		4,515			5,056
Cost of revenue		269,087			230,421
Stock-based compensation expense		8,303			6,414
Loss on early extinguishment of debt		14,927			—
Deferred income taxes, net		3,802			(1,364	)
Other		—			(151	)
Changes in operating assets and liabilities:
Finance and service charges on loans and finance receivables		(10,232	)		(12,043	)
Other receivables and prepaid expenses		(3,290	)		1,700
Accounts payable and accrued expenses		1,033			22,130
Current income taxes		(9,601	)		10,652
Net cash provided by operating activities		311,297			300,707
Cash Flows from Investing Activities
Loans and finance receivables originated or acquired		(998,333	)		(987,255	)
Loans and finance receivables repaid		672,474			651,865
Change in restricted cash		(3,030	)		(32,776	)
Purchases of property and equipment		(10,804	)		(11,466	)
Other investing activities		1,798			72
Net cash used in investing activities		(337,895	)		(379,560	)
Cash Flows from Financing Activities
Borrowings under revolving line of credit		30,000			45,000
Repayments under revolving line of credit		(30,000	)		(88,400	)
Borrowings under securitization facility		137,200			218,961
Repayments under securitization facility		(116,085	)		(82,008	)
Issuance of senior notes		250,000			—
Repayments of senior notes		(155,000	)		—
Debt issuance costs paid		(9,564	)		(3,516	)
Debt prepayment penalty paid		(11,335	)		—
Treasury shares purchased		(2,115	)		(115	)
Net cash provided by financing activities		93,101			89,922
Effect of exchange rates on cash		3,617			(7,454	)
Net increase in cash and cash equivalents		70,120			3,615
Cash and cash equivalents at beginning of year		39,934			42,066
Cash and cash equivalents at end of period	$	110,054		$	45,681
Supplemental Disclosures
Loans and finance receivables renewed	$	234,258		$	238,696

See notes to consolidated financial statements.

5

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

1. Significant Accounting Policies

Basis of Presentation

On September 7, 2011, Cash America International, Inc. (“Cash America,” now known as FirstCash, Inc. due to its merger with First Cash Financial Services, Inc. on September 1, 2016), formed a new company, Enova International, Inc. (the “Company”). On September 13, 2011, Cash America contributed to the Company all of the stock of its wholly-owned subsidiary, Enova Online Services, Inc., in exchange for 33 million shares of the Company’s common stock. The Company became an independent, publicly traded company on November 13, 2014 when Cash America completed the tax-free spin-off of approximately 80% of the outstanding shares of the Company to holders of Cash America’s common stock (the “Spin-off”). Cash America (and then First Cash) retained approximately 20% of the Company’s stock but completed the sale of its entire holding in the Company as of December 6, 2016. The consolidated financial statements of the Company reflect the historical results of operations and cash flows of the Company during each respective period. The financial statements include goodwill and intangible assets arising from businesses previously acquired.

The Company operates an internet-based lending platform to serve customers in need of cash to fulfill their financial responsibilities. Through a network of direct and indirect marketing channels, the Company offers funds to its customers through a variety of unsecured loan and finance receivable products. The business is operated primarily through the internet to provide convenient, fully-automated financial solutions to its customers. The Company originates, arranges, guarantees or purchases consumer loans and provides financing to small businesses through a line of credit account, installment loan or receivables purchase agreement product (“RPAs”). Consumer loans include short-term loans, line of credit accounts and installment loans. RPAs represent a right to receive future receivables from a small business. “Loans and finance receivables” include consumer loans, small business lines of credit, small business installment loans and RPAs.

The Company consolidates any variable interest entity (“VIE”) where it has been determined it is the primary beneficiary. The primary beneficiary is the entity which has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance as well as the obligation to absorb losses or receive benefits of the entity that could potentially be significant to the VIE.

The financial statements presented as of September 30, 2017 and 2016 and for the three and nine-month periods ended September 30, 2017 and 2016 are unaudited but, in management’s opinion, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for such interim periods. Operating results for three and nine-month periods are not necessarily indicative of the results that may be expected for the full fiscal year.

These financial statements and related notes should be read in conjunction with the Company’s audited consolidated financial statements as of December 31, 2016 and 2015 and for the years ended December 31, 2016, 2015 and 2014 and related notes, which are included on Form 10-K filed with the SEC on February 24, 2017.

Restricted Cash

The Company includes funds to be used for future debt payments relating to its securitization transactions and escrow deposits in restricted cash and cash equivalents.

Revenue Recognition

The Company recognizes revenue based on the financing products and services it offers and on loans it acquires. “Revenue” in the consolidated statements of income includes: interest income, finance charges, fees for services provided through the Company’s credit services organization and credit access business programs (“CSO programs”) (“CSO fees”), revenue on RPAs, service charges, draw fees, minimum billing fees, purchase fees, late fees and non-sufficient funds fees as permitted by applicable laws and pursuant to the agreement with the customer. For short-term loans that the Company offers, interest and finance charges are recognized on an effective yield basis over the term of the loan. For line of credit accounts, interest is recognized over the reporting period based upon the balance outstanding and the contractual interest rate, draw fees are recognized on an effective yield basis over the estimated outstanding period of the draw, and minimum billing fees are recognized when assessed to the customer. For installment loans, interest is recognized on an effective yield basis over the term of the loan. For RPAs, revenue and purchase fees are recognized on an effective yield basis over the projected delivery term of the agreements and fees are recognized when assessed. CSO fees are recognized on an effective yield basis over the term of the loan. Late and nonsufficient funds fees are recognized when assessed to the customer. Direct costs associated with originating loans and purchasing RPAs, such as third-party customer acquisition costs, are deferred and amortized against revenue on an effective yield basis over the term of the loan or the projected delivery term of the finance receivable. Short-term loans, line of credit accounts, installment loans, RPAs, unpaid and accrued interest, fees and revenue and deferred origination costs are included in “Loans and finance receivables, net” in the consolidated balance sheets.

6

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. In accordance with Accounting Standards Codification (“ASC”) 350, Goodwill, the Company tests goodwill and intangible assets with an indefinite life for potential impairment annually as of June 30 and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value below its carrying amount.

The Company first assesses qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. In assessing the qualitative factors, management considers relevant events and circumstances including but not limited to macroeconomic conditions, industry and market environment, overall financial performance of the Company, cash flow from operating activities, market capitalization and stock price. If the Company determines that the two-step quantitative impairment test is required, management uses the income approach to complete its annual goodwill assessment. The income approach uses future cash flows and estimated terminal values for the Company that are discounted using a market participant perspective to determine the fair value, which is then compared to the carrying value to determine if there is impairment. The income approach includes assumptions about revenue growth rates, operating margins and terminal growth rates discounted by an estimated weighted-average cost of capital derived from other publicly-traded companies that are similar but not identical from an operational and economic standpoint. The Company completed its annual assessment of goodwill as of June 30, 2017 based on qualitative factors and determined that the fair value of its goodwill exceeded carrying value, and, as a result, no impairment existed at that date. Although no goodwill impairment was noted, there can be no assurances that future goodwill impairments will not occur.

AdoptedAccounting Standards

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). The amendments in ASU 2016-09 simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company adopted ASU 2016-09 on January 1, 2017. The adoption of ASU 2016-09 did not have a material impact on the Company’s financial statements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) (“ASU 2016-15”). The amendments in ASU 2016-15 provide guidance on eight specific cash flow issues, including debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination, distributions received from equity method investees and beneficial interests in securitization transactions. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company adopted ASU 2016-15 on July 1, 2017. The adoption of ASU 2016-15 did not have a material impact on the Company’s financial statements.

Accounting Standards to be Adopted in Future Periods

In May 2017, the FASB issued ASU 2017-09, Compensation–Stock Compensation (Topic 718): Scope of Modification Accounting (“ASU 2017-09”) clarifying when a change to the terms or conditions of a share-based payment award must be accounted for as a modification. The new guidance requires modification accounting if the fair value, vesting condition or the classification of the award is not the same immediately before and after a change to the terms and conditions of the award. The new guidance is effective on a prospective basis for annual periods beginning after December 15, 2016, and interim periods within those annual periods, with early adoption permitted. The adoption of ASU 2017-09 is not expected to have a material impact on the Company’s financial statements.

In January 2017, the FASB issued ASU 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (“ASU 2017-05”) to clarify the scope of Subtopic 610-20, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets, and to add guidance for partial sales of nonfinancial assets. ASU 2017-05 is effective at the same time as the amendments in ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). Therefore, for public entities, the amendments are effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. The Company does not expect that the adoption of ASU 2017-05 will have a material effect on its consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment (“ASU 2017-04”) to simplify the accounting for goodwill impairment. ASU 2017-04 removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Goodwill impairment will now be the amount by which a

7

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company does not expect that the adoption of ASU 2017-04 will have a material effect on its consolidated financial statements.

In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) – Clarifying the Definition of a Business (“ASU 2017-01”). ASU 2017-01 provides a screen to determine when an asset or group of assets acquired is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. ASU 2017-01 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. The Company does not expect that the adoption of ASU 2017-01 will have a material effect on its consolidated financial statements.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash (“ASU 2016-18”). ASU 2016-18 clarifies certain existing principles in ASC 230, Statement of Cash Flows, including providing additional guidance related to transfers between cash and restricted cash and how entities present, in their statement of cash flows, the cash receipts and cash payments that directly affect the restricted cash accounts. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The adoption of ASU 2016-18 will modify the Company's current disclosures and classifications within the consolidated statement of cash flows but it is not expected to have a material effect on the Company’s consolidated financial statements.

In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (“ASU 2016-16”), which requires entities to recognize the income tax impact of an intra-entity sale or transfer of an asset other than inventory when the sale or transfer occurs, rather than when the asset has been sold to an outside party. ASU 2016-16 is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted. The Company does not expect that the adoption of ASU 2016-16 will have a material effect on its consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016‑13”). The amendments in ASU 2016‑13 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. ASU 2016‑13 is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods within those fiscal years. The Company is assessing the impact of ASU 2016‑13, which at the date of adoption will increase the allowance for credit losses with a resulting negative adjustment to retained earnings.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 requires lessee recognition on the balance sheet of a right-of-use asset and a lease liability, initially measured at the present value of the lease payments. It further requires recognition in the income statement of a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis. Finally, it requires classification of all cash payments within operating activities in the statement of cash flows. ASU 2016-02 is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2018. Early adoption is permitted for all entities upon issuance. Upon adoption of ASU 2016-02, the Company expects to report higher assets and liabilities as a result of including additional leases on the consolidated balance sheet. The Company does not expect the adoption of ASU 2016-02 to have a material impact on the consolidated statements of income or the consolidated statements of stockholders' equity.

In January 2016, the FASB issued ASU 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016‑01”), which requires that equity investments, except for those accounted for under the equity method or those that result in consolidation of the investee, be measured at fair value, with subsequent changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. ASU 2016-01 also impacts the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted only for certain provisions. The Company does not expect that the adoption of ASU 2016-01 will have a material effect on its consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. 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

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In August 2015, the FASB issued ASU No. 2015-14, Deferral of the Effective Date, deferring the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017. In March 2016, the FASB issued ASU 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net), to clarify revenue recognition accounting when a third party is involved in providing goods or services to a customer. In April 2016, the FASB issued ASU 2016-10, Identifying Performance Obligations and Licensing, to clarify the implementation guidance on identifying performance obligations and licensing. Early adoption of ASU 2016‑10 is permitted only as of an annual reporting period beginning after December 15, 2016. In May 2016, the FASB issued ASU 2016-12, Narrow-Scope Improvements and Practical Expedients, to reduce the risk of diversity in practice for certain aspects in ASU 2014-09, including collectibility, noncash consideration, presentation of sales tax and transition. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers, which clarifies the guidance in Topic 606 on assessing certain aspects of the new revenue standard. The Company plans to adopt the revenue recognition guidance in the first quarter of 2018 using the modified retrospective method of adoption. The Company has completed its initial assessment of the guidance and determined its loan and finance receivables are excluded from the scope of ASU 2014-09. As a result of this scope exception, the Company has concluded the impact to the consolidated financial statements will not be material in the period of adoption and in future periods. The Company is finalizing its assessment of ASU 2014-09 and the impact on its financial statement disclosures.

Out-of-Period Adjustment

In a review of marketing expenses related to the origination of loans, the Company determined during the quarter that certain amounts should be deferred over the life the corresponding loans. The Company recorded a reduction to revenue and marketing expense of $0.7 million and $1.9 million, respectively, in the third quarter of 2017 as an out-of-period adjustment related to amounts from prior periods previously recognized as expense. The Company believes this adjustment was not material to the current period or any previously issued financial statements.

2. Acquisitions

On June 23, 2015, the Company completed the purchase of certain assets of a company operating as The Business Backer, LLC, which purchases discounted future accounts receivables from small businesses in the United States through RPAs, which provide working capital for small businesses. The total consideration of $26.4 million was comprised of $17.7 million in cash at closing, a $3.0 million promissory note (included in “Accounts payable and accrued expenses” in the consolidated balance sheets) and estimated contingent consideration of $5.7 million based on future earn-out opportunities. The contingent purchase consideration was recorded at its estimated fair value at the date of acquisition based upon the Company’s assessment of the probable earnings attributable to the business as defined in the purchase agreement. To the extent operating results exceed the Company’s estimate, additional contingent consideration would be due, however the total consideration paid may not exceed $71 million. The contingent purchase consideration is revalued each reporting period with changes in fair value of the contingent consideration obligations recognized as a gain or loss on fair value remeasurement in our consolidated statements of income. The fair value of the contingent purchase consideration was remeasured as of December 31, 2016 and a gain from the fair value remeasurement of $3.3 million was recognized. There was no change in fair value measurement of contingent consideration for the three and nine months ended September 30, 2017.

This purchase was not material to the Company’s consolidated financial statements. The operating results of the purchased assets, which were not material, have been included in the Company’s consolidated financial statements from the date of acquisition.

3. Loans and Finance Receivables, Credit Quality Information and Allowances and Liabilities for Estimated Losses on Loans and Finance Receivables

Revenue generated from the Company’s loans and finance receivables for the three and nine months ended September 30, 2017 and 2016 was as follows (dollars in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Short-term loans	$	49,875	$	51,999	$	144,074	$	146,237
Line of credit accounts		68,889		59,090		187,172		158,338
Installment loans and RPAs		98,929		84,823		268,069		237,320
Total loans and finance receivables revenue		217,693		195,912		599,315		541,895
Other		185		31		730		1,236
Total revenue	$	217,878	$	195,943	$	600,045	$	543,131

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ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Current and Delinquent Loans and Finance Receivables

The Company classifies its loans and finance receivables as either current or delinquent. Short-term loans are considered delinquent when payment of an amount due is not made as of the due date. If a line of credit account or installment loan customer misses one payment, that payment is considered delinquent and the balance of the loan is considered current. If a line of credit account or installment loan customer does not make two consecutive payments, the entire account or loan is classified as delinquent and placed on a non-accrual status. The Company allows for normal payment processing time before considering a loan delinquent but does not provide for any additional grace period.

The Company does not accrue interest on delinquent loans and does not resume accrual of interest on a delinquent loan unless it is returned to current status. In addition, delinquent loans generally may not be renewed, and if, during its attempt to collect on a delinquent loan, the Company allows additional time for payment through a payment plan or a promise to pay, it is still considered delinquent. Generally, all payments received are first applied against accrued but unpaid interest and fees and then against the principal balance of the loan.

Allowance and Liability for Estimated Losses on Loans and Finance Receivables

The Company monitors the performance of its loan and finance receivable portfolios and maintains either an allowance or liability for estimated losses on loans and finance receivables (including revenue, fees and/or interest) at a level estimated to be adequate to absorb losses inherent in the portfolio. The allowance for losses on the Company’s owned loans and finance receivables reduces the outstanding loans and finance receivables balance in the consolidated balance sheets. The liability for estimated losses related to loans guaranteed under its CSO programs is initially recorded at fair value and is included in “Accounts payable and accrued expenses” in the consolidated balance sheets.

In determining the allowance or liability for estimated losses on loans and finance receivables, the Company applies a documented systematic methodology. In calculating the allowance or liability for receivable losses, outstanding loans and finance receivables are divided into discrete groups of short-term loans, line of credit accounts, installment loans and RPAs and are analyzed as current or delinquent. Increases in either the allowance or the liability, net of charge-offs and recoveries, are recorded as a “Cost of revenue” in the consolidated statements of income.

The allowance or liability for short-term loans classified as current is based on historical loss rates adjusted for recent default trends for current loans. For delinquent short-term loans, the allowance or liability is based on a six-month rolling average of loss rates by stage of collection. For line of credit account, installment loan and RPA portfolios, the Company generally uses either a migration analysis or roll-rate based methodology to estimate losses inherent in the portfolio. The allowance or liability calculation under the migration analysis and roll-rate methodology is based on historical charge-off experience and the loss emergence period, which represents the average amount of time between the first occurrence of a loss event and the charge-off of a loan or RPA. The factors the Company considers to assess the adequacy of the allowance or liability include past due performance, historical behavior of monthly vintages, underwriting changes and recent trends in delinquency in the migration analysis. The roll-rate methodology is based on delinquency status, payment history and recency factors to estimate future charge-offs.

The Company fully reserves for loans and finance receivables once the receivable or a portion of the receivable has been classified as delinquent for 60 consecutive days and generally charges off loans and finance receivables between 60 – 65 days delinquent. If a loan or finance receivable is deemed uncollectible before it is fully reserved, it is charged off at that point. Loans and finance receivables classified as delinquent generally have an age of one to 64 days from the date any portion of the receivable became delinquent, as defined above. Recoveries on loans and finance receivables previously charged to the allowance are credited to the allowance when collected.

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ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

The components of Company-owned loans and finance receivables at September 30, 2017 and 2016 and December 31, 2016 were as follows (dollars in thousands):

	As of September 30, 2017
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Current receivables	$	40,588		$	146,891		$	480,522		$	668,001
Delinquent receivables:
Delinquent payment amounts(1)		—			5,913			3,382			9,295
Receivables on non-accrual status		27,131			1,885			36,484			65,500
Total delinquent receivables		27,131			7,798			39,866			74,795
Total loans and finance receivables, gross		67,719			154,689			520,388			742,796
Less: Allowance for losses		(19,161	)		(26,810	)		(59,089	)		(105,060	)
Loans and finance receivables, net	$	48,558		$	127,879		$	461,299		$	637,736

	As of September 30, 2016
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Current receivables	$	35,815		$	120,951		$	412,010		$	568,776
Delinquent receivables:
Delinquent payment amounts(1)		—			4,975			1,721			6,696
Receivables on non-accrual status		24,310			6,462			31,368			62,140
Total delinquent receivables		24,310			11,437			33,089			68,836
Total loans and finance receivables, gross		60,125			132,388			445,099			637,612
Less: Allowance for losses		(17,726	)		(26,795	)		(50,226	)		(94,747	)
Loans and finance receivables, net	$	42,399		$	105,593		$	394,873		$	542,865

	As of December 31, 2016
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Current receivables	$	35,516		$	130,576		$	413,638		$	579,730
Delinquent receivables:
Delinquent payment amounts(1)		—			4,560			2,110			6,670
Receivables on non-accrual status		27,489			9,047			37,559			74,095
Total delinquent receivables		27,489			13,607			39,669			80,765
Total loans and finance receivables, gross		63,005			144,183			453,307			660,495
Less: Allowance for losses		(17,770	)		(26,594	)		(54,581	)		(98,945	)
Loans and finance receivables, net	$	45,235		$	117,589		$	398,726		$	561,550

(1) Represents the delinquent portion of installment loans and line of credit account balances for customers that have only missed one payment and RPA customers who have not delivered agreed upon receivables. See “Current and Delinquent Loans and Finance Receivables” above for additional information.

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ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Changes in the allowance for losses for the Company-owned loans and finance receivables and the liability for losses on the Company’s guarantees of third-party lender-owned loans during the three and nine months ended September 30, 2017 and 2016 were as follows (dollars in thousands):

	Three Months Ended September 30, 2017
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Allowance for losses for Company-owned loans and finance receivables:
Balance at beginning of period	$	15,688		$	22,847		$	45,304		$	83,839
Cost of revenue		23,724			23,439			60,102			107,265
Charge-offs		(25,521	)		(22,708	)		(57,228	)		(105,457	)
Recoveries		5,082			3,232			10,630			18,944
Effect of foreign currency translation		188			—			281			469
Balance at end of period	$	19,161		$	26,810		$	59,089		$	105,060
Liability for third-party lender-owned loans:
Balance at beginning of period	$	1,761		$	—		$	180		$	1,941
Increase (decrease) in liability		125			—			(49	)		76
Balance at end of period	$	1,886		$	—		$	131		$	2,017

	Three Months Ended September 30, 2016
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Allowance for losses for Company-owned loans and finance receivables:
Balance at beginning of period	$	13,354		$	18,029		$	42,437		$	73,820
Cost of revenue		20,464			29,739			45,293			95,496
Charge-offs		(21,301	)		(24,639	)		(44,804	)		(90,744	)
Recoveries		5,345			3,666			7,421			16,432
Effect of foreign currency translation		(136	)		—			(121	)		(257	)
Balance at end of period	$	17,726		$	26,795		$	50,226		$	94,747
Liability for third-party lender-owned loans:
Balance at beginning of period	$	1,392		$	—		$	441		$	1,833
Increase (decrease) in liability		66			—			(172	)		(106	)
Balance at end of period	$	1,458		$	—		$	269		$	1,727

	Nine Months Ended September 30, 2017
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Allowance for losses for Company-owned loans and finance receivables:
Balance at beginning of period	$	17,770		$	26,594		$	54,581		$	98,945
Cost of revenue		55,865			63,138			150,063			269,066
Charge-offs		(70,962	)		(73,252	)		(177,002	)		(321,216	)
Recoveries		16,009			10,330			30,782			57,121
Effect of foreign currency translation		479			—			665			1,144
Balance at end of period	$	19,161		$	26,810		$	59,089		$	105,060
Liability for third-party lender-owned loans:
Balance at beginning of period	$	1,716		$	—		$	280		$	1,996
Increase (decrease) in liability		170			—			(149	)		21
Balance at end of period	$	1,886		$	—		$	131		$	2,017

12

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

	Nine Months Ended September 30, 2016
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Allowance for losses for Company-owned loans and finance receivables:
Balance at beginning of period	$	14,652		$	15,727		$	36,943		$	67,322
Cost of revenue		47,860			63,461			119,128			230,449
Charge-offs		(59,664	)		(63,236	)		(127,473	)		(250,373	)
Recoveries		15,448			10,843			21,217			47,508
Effect of foreign currency translation		(570	)		—			411			(159	)
Balance at end of period	$	17,726		$	26,795		$	50,226		$	94,747
Liability for third-party lender-owned loans:
Balance at beginning of period	$	1,298		$	—		$	458		$	1,756
Increase (decrease) in liability		160			—			(189	)		(29	)
Balance at end of period	$	1,458		$	—		$	269		$	1,727

Guarantees of Consumer Loans

In connection with its CSO programs, the Company guarantees consumer loan payment obligations to unrelated third-party lenders for short-term and installment loans and is required to purchase any defaulted loans it has guaranteed. The guarantee represents an obligation to purchase specific loans that go into default. As of September 30, 2017 and 2016 and December 31, 2016, the amount of consumer loans guaranteed by the Company was $28.9 million, $29.7 million and $32.2 million, respectively, representing amounts due under consumer loans originated by third-party lenders under the CSO programs. The estimated fair value of the liability for estimated losses on consumer loans guaranteed by the Company of $2.0 million, $1.7 million and $2.0 million, as of September 30, 2017 and 2016 and December 31, 2016, respectively, is included in “Accounts payable and accrued expenses” in the consolidated balance sheets.

Bank Program Loans

In order to leverage its online lending platform, the Company launched a program with a bank in 2016 to provide technology, marketing services, and loan servicing for near-prime unsecured consumer installment loans. Under the program, the Company receives marketing and servicing fees while the bank receives an origination fee. The bank has the ability to sell the loans it originates to the Company. The Company does not guarantee the performance of the loans originated by the bank.

4. Investment in Unconsolidated Investee

The Company records an investment in the preferred stock of a privately-held developing financial services entity under the cost method. The carrying value of the Company’s investment in this unconsolidated investee was $6.7 million as of September 30, 2017 and 2016 and December 31, 2016, and was held in “Other assets” in the Company’s consolidated balance sheets. The Company evaluates this investment for impairment if an event occurs or circumstances change that would more likely than not reduce the fair value of the investment below carrying value. Based on the Company’s evaluation of this investment at September 30, 2017, the Company determined that an impairment loss was not probable at that date.

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ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

5. Long-term debt

The Company’s long-term debt instruments and balances outstanding as of September 30, 2017 and 2016 and December 31, 2016 were as follows (dollars in thousands):

	September 30,						December 31,
	2017			2016			2016
Securitization notes	$	186,533		$	136,953		$	165,419
Revolving line of credit		—			15,000			—
9.75% senior notes due 2021		342,407			495,427			495,622
8.50% senior notes due 2024		250,000			—			—
Subtotal		778,940			647,380			661,041
Less: Long-term debt issuance costs		(13,545	)		(12,201	)		(11,130	)
Total long-term debt	$	765,395		$	635,179		$	649,911

8.50% Senior Unsecured Notes Due 2024

On September 1, 2017, the Company issued and sold $250.0 million in aggregate principal amount of 8.50% Senior Notes due 2024 (the “2024 Senior Notes”). The 2024 Senior Notes were sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and outside the United States pursuant to Regulation S under the Securities Act. The 2024 Senior Notes bear interest at a rate of 8.50% annually on the principal amount payable semi-annually in arrears on March 1 and September 1 of each year, beginning on March 1, 2018. The 2024 Senior Notes were sold at a price of 100%. The 2024 Senior Notes will mature on September 1, 2024. The 2024 Senior Notes are unsecured debt obligations of the Company, and are unconditionally guaranteed by certain of the Company’s domestic subsidiaries.

The 2024 Senior Notes are redeemable at the Company’s option, in whole or in part, (i) at any time prior to September 1, 2020 at 100% of the aggregate principal amount of 2024 Senior Notes redeemed plus the applicable “make whole” premium specified in the indenture that governs the Company’s 2024 Notes (the "2024 Senior Notes Indenture"), plus accrued and unpaid interest, if any, to the redemption date and (ii) at any time on or after September 1, 2020 at the premium, if any, specified in the 2024 Senior Notes Indenture that will decrease over time, plus accrued and unpaid interest, if any, to the redemption date. In addition, prior to September 1, 2020, at its option, the Company may redeem up to 40% of the aggregate principal amount of the 2024 Senior Notes at a redemption price of 108.5% of the aggregate principal amount of 2024 Senior Notes redeemed, plus accrued and unpaid interest, if any, to the redemption date, with the proceeds of certain equity offerings as described in the 2024 Senior Notes Indenture.

The 2024 Senior Notes and the related guarantees have not been and will not be registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign securities laws.

In connection with the issuance of the 2024 Senior Notes, the Company incurred approximately $7.6 million of issuance costs, which primarily consisted of underwriting fees, legal and other professional expenses.

The Company used the net proceeds of the 2024 Senior Notes offering to retire a portion of its outstanding 9.75% senior notes due 2021, to pay the related accrued interest, premiums, fees and expenses associated therewith and for general corporate purposes, which may include working capital and future repurchases of its outstanding debt securities.

As of September 30, 2017, the carrying amount of the 2024 Senior Notes was $242.5 million, which includes unamortized issuance costs of $7.5 million. The total interest expense recognized was $1.9 million for the nine months ended September 30, 2017.

Consumer Loan Securitization

2016-1 Facility

On January 15, 2016, the Company and certain of its subsidiaries entered into a receivables securitization (as amended, the “2016‑1 Securitization Facility”) with certain purchasers, Jefferies Funding LLC, as administrative agent (the “Administrative Agent”) and Bankers Trust Company, as indenture trustee and securities intermediary (the “Indenture Trustee”). The 2016‑1 Securitization Facility securitizes unsecured consumer installment loans (“Receivables”) that have been, or will be, originated or acquired under the Company’s

14

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

NetCredit brand and that meet specified eligibility criteria. Under the 2016‑1 Securitization Facility, Receivables are sold to EFR 2016‑1, LLC, a wholly-owned special purpose subsidiary (the “Issuer”), and serviced by another subsidiary.

The Issuer issued an initial term note of $107.4 million (the “Initial Term Note”), which was secured by $134 million in unsecured consumer loans, and variable funding notes (the “Variable Funding Notes”) with an aggregate availability of $20 million per month; the 2016‑1 Securitization Facility was amended to increase the availability to $40 million until December 31, 2016, and $30 million thereafter, as discussed below. As described below, the Issuer has issued and will subsequently issue term notes (the “Term Notes” and, together with the Initial Term Note and the Variable Funding Notes, the “Securitization Notes”). The maximum principal amount of the Securitization Notes that may be outstanding at any time under the 2016‑1 Securitization Facility was limited to $175 million; the 2016‑1 Securitization Facility was amended to increase the maximum principal amount to $275 million, as discussed below.

At the end of each month during the nine-month revolving period, the Receivables funded by the Variable Funding Notes have been and will be refinanced through the creation of two Term Notes, which Term Notes have been and will be issued to the holders of the Variable Funding Notes. The non-recourse Securitization Notes mature at various dates, the latest of which will be October 15, 2020 (the “Final Maturity Date”). The 2016‑1 Securitization Facility has been amended to extend the revolving period to October 2017 and the latest maturity to October 2021, as discussed below.

The Securitization Notes are issued pursuant to an indenture, dated as of January 15, 2016 (the “Closing Date”). The Securitization Notes bear interest at an annual rate equal to the one month London Interbank Offered Rate (“LIBOR”) (subject to a floor of 1%) plus 7.75%, which rate was initially 8.75%. In addition, the Issuer paid certain customary upfront closing fees and will pay customary annual commitment and other fees to the purchasers under the 2016‑1 Securitization Facility. The Issuer is permitted to voluntarily prepay any outstanding Securitization Notes, subject to an optional redemption premium. Interest and principal payments on outstanding Securitization Notes are made monthly. Any remaining amounts outstanding will be payable no later than the Final Maturity Date.The Securitization Notes are supported by the cash flows from the underlying Receivables. The holders of the Securitization Notes have no recourse to the Company if the cash flows from the underlying Receivables are not sufficient to pay all of the principal and interest on the Securitization Notes unless the underlying Receivables breach the representations and warranties made by us as of the related sale date as described below. Additionally, the Receivables will be held by the Issuer at least until the obligations under the Securitization Notes are satisfied. For so long as the Receivables are owned by the Issuer, the outstanding Receivables will not be available to satisfy the Company’s other debts and obligations.

All amounts due under the Securitization Notes are secured by all of the Issuer’s assets, which include the Receivables transferred to the Issuer, related rights under the Receivables, specified bank accounts, and certain other related collateral.

The 2016‑1 Securitization Facility documents contain customary provisions for securitizations, including: representations and warranties as to the eligibility of the Receivables and other matters; indemnification for specified losses not including losses due to the inability of consumers to repay their loans; covenants regarding special purpose entity matters and other subjects; and default and termination provisions which provide for the acceleration of the Securitization Notes under the 2016‑1 Securitization Facility in circumstances including, but not limited to, failure to make payments when due, servicer defaults, certain insolvency events, breaches of representations, warranties or covenants, failure to maintain the security interest in the receivables, defaults under other material indebtedness and certain regulatory matters.

The agreements evidencing the 2016‑1 Facility, all dated as of the Closing Date, include (i) an Indenture between the Issuer and the Indenture Trustee, (ii) a Note Purchase Agreement among the Issuer, NetCredit Loan Services, LLC (f/k/a Enova Lending Services, LLC), as the Master Servicer, the Administrative Agent and certain purchasers, and (iii) a Receivables Purchase Agreement between the Company and Enova Finance 5, LLC. On July 26, 2016, the Company and certain of its subsidiaries entered into a First Omnibus Amendment (the “First Amendment”) of the 2016‑1 Facility that was established on the Closing Date, pursuant to various agreements with certain purchasers, the Administrative Agent and the Indenture Trustee. The First Amendment effected a variety of minor technical changes to the Indenture, the Note Purchase Agreement, the Receivables Purchase Agreement and the servicing agreement for the 2016‑1 Facility. These changes included revised procedures under the Note Purchase Agreement for the disbursement to the Issuer of proceeds from draws under the Variable Funding Notes and clarification of modifications that the servicer is permitted to effect to the terms of the Receivables that have been transferred into the EFR 2016‑1 Facility.

On August 17, 2016, the Company and one of its subsidiaries entered into an Amendment to the Receivables Purchase Agreement. This amendment modified an eligibility criterion for Receivables that the Company sells under the Agreement.

On September 12, 2016, the Company and certain of its subsidiaries entered into a Second Omnibus Amendment (the “Second Amendment”) to amend the Indenture and the Receivables Purchase Agreement. The Second Amendment authorized the Company to

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ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

include in the 2016‑1 Facility Receivables originated by a state-chartered bank and acquired by a subsidiary of the Company from that bank, and it adjusted the Investment Pool Cumulative Net Loss Trigger for the Initial Term Note Investment Pool (as such terms are defined in the Indenture), which was the seasoned pool of receivables securitized under the 2016‑1 Facility on the Closing Date.

On October 20, 2016, the Company and certain of its subsidiaries entered into a Third Amendment and Limited Waiver (the “Third Amendment”) to amend the Indenture and Receivables Purchase Agreement. The Third Amendment increased the maximum principal amount of the 2016‑1 Facility to $275 million, increased the Variable Funding Notes maximum principal amount to $40 million until December 31, 2016, and $30 million thereafter, and extended the revolving period of the facility to October 2017. The Third Amendment also adjusted the Note Interest Rate on Term Notes issued after, and amounts outstanding under the Variable Funding Notes after, the date of the Third Amendment (as such terms are defined in the Indenture). The weighted average interest rate on such adjusted Notes is 9.5%.

On November 14, 2016, the Company and certain of its subsidiaries entered into a Fourth Amendment (the “Fourth Amendment”) to amend the Indenture and Receivables Purchase Agreement. The Fourth Amendment adjusted the Investment Pool Cumulative Delinquency Trigger (as such term is defined in the Indenture), with an effective date of October 31, 2016.

On December 14, 2016, the Company and certain of its subsidiaries entered into a Fifth Amendment (the “Fifth Amendment”) to amend the Indenture and Receivables Purchase Agreement. The Fifth Amendment adjusted the Investment Pool Cumulative Delinquency Trigger (as such term is defined in the Indenture) for the Initial Term Notes, with an effective date of November 30, 2016, expanded the categories of Receivables that could be financed through the 2016‑1 Facility and made certain other minor changes. These changes provide the Company with additional flexibility under the 2016‑1 Facility.

As of September 30, 2017 and 2016, the carrying amount of the 2016‑1 Securitization Facility was $173.7 million and $134.5 million, respectively, which included unamortized issuance costs of $0.8 million and $2.4 million, respectively. The issuance costs are being amortized to interest expense over a period of four years. The total interest expense recognized was $11.4 million and $9.5 million of which $1.1 million and $2.6 million represented the non-cash amortization of the issuance costs for the nine months ended September 30, 2017 and 2016, respectively.

2016‑2 Facility

On December 1, 2016, the Company and certain of its subsidiaries entered into a receivables securitization (the “2016‑2 Facility”) with Redpoint Capital Asset Funding, LLC, as lender (the “Lender”). The 2016‑2 Facility securitizes unsecured consumer installment loans (“Redpoint Receivables”) that have been and will be originated or acquired under the Company’s NetCredit brand by several of the Company’s subsidiaries (the “Originators”) and that meet specified eligibility criteria, including that the annual percentage rate for each securitized consumer loan is greater than or equal to 90%. Under the 2016‑2 Facility, Redpoint Receivables are sold to a wholly-owned special purpose subsidiary of the Company (the “Debtor”) and serviced by another subsidiary of the Company.

The Debtor has issued a revolving note with an initial maximum principal balance of $20.0 million (the “Initial Facility Size”), which is required to be secured by $25.0 million in unsecured consumer loans. The Initial Facility Size may be increased under the 2016‑2 Facility to $40 million. The 2016‑2 Facility is non-recourse to the Company and matures on December 1, 2019.

The 2016‑2 Facility is governed by a loan and security agreement, dated as of December 1, 2016, between the Lender and the Debtor. The 2016‑2 Facility bears interest at a rate per annum equal to LIBOR (subject to a floor) plus an applicable margin, which rate per annum was initially 12.50%. In addition, the Debtor paid certain customary upfront closing fees to the Lender. Interest payments on the 2016‑2 Facility will be made monthly. Subject to certain exceptions, the Debtor is not permitted to prepay the 2016‑2 Facility prior to October 1, 2018. Following such date, the Debtor is permitted to voluntarily prepay the 2016‑2 Facility without penalty. Any remaining amounts outstanding will be payable no later than December 1, 2019.

All amounts due under the 2016‑2 Facility are secured by all of the Debtor’s assets, which include the Redpoint Receivables transferred to the Debtor, related rights under the Redpoint Receivables, a bank account and certain other related collateral.

The 2016‑2 Facility documents contain customary provisions for securitizations, including: representations and warranties as to the eligibility of the Redpoint Receivables and other matters; indemnification for specified losses not including losses due to the inability of consumers to repay the related Receivables; and default and termination provisions which provide for the acceleration of the 2016‑2 Facility in circumstances including, but not limited to, failure to make payments when due, certain insolvency events, breaches of representations, warranties or covenants, failure to maintain the security interest in the receivables and defaults under other material indebtedness of the Debtor.

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ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

As of September 30, 2017, the carrying amount of the 2016‑2 Facility was $12.1 million. In connection with the issuance of the 2016‑2 Facility, the Company incurred debt issuance costs of approximately $0.2 million. The unamortized balance of these costs as of September 30, 2017 is included in “Other assets” in the consolidated balance sheets. These costs are being amortized to interest expense over a period of 36 months, the term of the 2016‑2 Facility. The total interest expense recognized was $1.4 million for the nine months ended September 30, 2017.

Revolving Credit Facilities

On May 14, 2014, the Company and certain of its subsidiaries as guarantors entered into a credit agreement among the Company, the guarantors, Jefferies Finance LLC as administrative agent and Jefferies Group LLC as lender (the “2014 Credit Agreement”). The 2014 Credit Agreement was terminated on June 30, 2017. The Company had no outstanding borrowings under the 2014 Credit Agreement as of September 30, 2016 and December 31, 2016.

The 2014 Credit Agreement also included a sub-limit of up to $20.0 million for standby or commercial letters of credit. In the event that an amount was paid by the issuing bank under a letter of credit, it would have been due and payable by the Company on demand. The Company had outstanding letters of credit under the 2014 Credit Agreement of $6.6 million as of each of September 30, 2016 and December 31, 2016.

In connection with the issuance of the 2014 Credit Agreement, as amended, the Company incurred debt issuance costs of approximately $1.6 million, which primarily consisted of underwriting fees and legal expenses. The unamortized balance of these costs was included in “Other assets” in the consolidated balance sheets. These costs were amortized to interest expense over a period of 37 months, the term of the 2014 Credit Agreement.

On June 30, 2017, the Company and certain of its operating subsidiaries entered into an asset-backed secured revolving credit agreement with a syndicate of banks including TBK Bank, SSB (“TBK”), as Administrative Agent and Collateral Agent, Jefferies Finance LLC and TBK as Joint Lead Arrangers and Joint Lead Bookrunners, and Green Bank, N.A., as Lender (the “2017 Credit Agreement”).

The 2017 Credit Agreement is secured by domestic receivables and replaced the 2014 Credit Agreement. The borrowing limit in the 2017 Credit Agreement increased to $40 million from $35 million in the 2014 Credit Agreement, and its maturity date is May 1, 2020. The Company had no outstanding borrowings under the 2017 Credit Agreement as of September 30, 2017.

The 2017 Credit Agreement provides for a revolving credit line with interest on borrowings under the facility at prime rate plus 1.00%. In addition, the 2017 Credit Agreement provides for payment of a commitment fee calculated with respect to the unused portion of the line, and ranges from 0.30% per annum to 0.50% per annum depending on usage. A portion of the revolving credit facility, up to a maximum of $20 million, is available for the issuance of letters of credit. The Company had outstanding letters of credit under the 2017 Credit Agreement of $8.0 million as of September 30, 2017. The 2017 Credit Agreement provides for certain prepayment penalties if it is terminated on or before its first and second anniversary date, subject to certain exceptions.

The 2017 Credit Agreement contains certain limitations on the incurrence of additional indebtedness, investments, the attachment of liens to the Company’s property, the amount of dividends and other distributions, fundamental changes to the Company or its business and certain other activities of the Company. The 2017 Credit Agreement contains standard financial covenants for a facility of this type based on a leverage ratio and a fixed charge coverage ratio. The 2017 Credit Agreement also provides for customary affirmative covenants, including financial reporting requirements, and certain events of default, including payment defaults, covenant defaults and other customary defaults.

In connection with the issuance of the 2017 Credit Agreement, as amended, the Company incurred debt issuance costs of approximately $2.0 million, which primarily consisted of underwriting fees and legal expenses. The unamortized balance of these costs as of September 30, 2017 is included in “Other assets” in the consolidated balance sheets. These costs are being amortized to interest expense over a period of 34 months, the term of the 2017 Credit Agreement.

9.75% Senior Unsecured Notes Due 2021

On May 30, 2014, the Company issued and sold $500.0 million in aggregate principal amount of 9.75% Senior Notes due 2021 (the “2021 Senior Notes”). The 2021 Senior Notes bear interest at a rate of 9.75% annually on the principal amount payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2014. The 2021 Senior Notes were sold at a discount of the principal amount to yield 10.0% to maturity and will mature on June 1, 2021.

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ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

During the three months ended September 30, 2017, the Company repurchased $155.0 million principal amount of the 2021 Senior Notes for aggregate cash consideration of $166.3 million plus accrued interest. In connection with these purchases, the Company recorded a loss on extinguishment of debt of approximately $14.9 million ($9.2 million net of tax), which is included in “Loss on early extinguishment of debt” in the consolidated statements of income.

As of September 30, 2017 and 2016, the carrying amount of the 2021 Senior Notes was $337.1 million and $485.6 million, respectively, which included an unamortized discount of $2.6 million and $4.6 million, respectively, and unamortized issuance costs of $5.3 million and $9.8 million, respectively. The discount and issuance costs are being amortized to interest expense over a period of seven years, through the maturity date of June 1, 2021. The total interest expense recognized for the nine months ended September 30, 2017and 2016 was $38.0 million and $38.7 million, respectively, of which $0.6 million for each period represented the non-cash amortization of the discount and $1.5 million and $1.6 million, respectively, represented the non-cash amortization of the issuance costs.

Weighted-average interest rates on long-term debt were 10.58% and 10.75% during the nine months ended September 30, 2017 and 2016, respectively.

As of September 30, 2017 and 2016 and December 31, 2016, the Company was in compliance with all covenants and other requirements set forth in the prevailing long-term debt agreement(s).

6. Earnings Per Share

Basic earnings per share is computed by dividing net (loss) income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by giving effect to the potential dilution that could occur if securities or other contracts to issue common shares were exercised and converted into common shares during the period. Restricted stock units issued under the Company’s stock-based employee compensation plans are included in diluted shares upon the granting of the awards even though the vesting of shares will occur over time.

The following table sets forth the reconciliation of numerators and denominators of basic and diluted earnings per share computations for the three and nine months ended September 30, 2017 and 2016 (in thousands, except per share amounts):

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2017			2016		2017		2016
Numerator:
Net (loss) income	$	(3,368	)	$	7,837	$	22,357	$	25,888
Denominator:
Total weighted average basic shares		33,670			33,211		33,533		33,176
Shares applicable to stock-based compensation		—			347		586		184
Total weighted average diluted shares		33,670			33,558		34,119		33,360
Earnings per share:
Net (loss) income per share – basic	$	(0.10	)	$	0.24	$	0.67	$	0.78
Net (loss) income per share – diluted	$	(0.10	)	$	0.23	$	0.66	$	0.78

For the three months ended September 30, 2017 and 2016, 2,138,180 and 1,467,202 shares of common stock underlying stock options, respectively, and 1,592,937 and 343,663 shares of common stock underlying restricted stock units, respectively, were excluded from the calculation of diluted net (loss) income per share because their effect would have been antidilutive. For the nine months ended September 30, 2017 and 2016, 1,552,045 and 1,783,073 shares of common stock underlying stock options, respectively, and 242,677 and 520,688 shares of common stock underlying restricted stock units, respectively, were excluded from the calculation of diluted net (loss) income per share because their effect would have been antidilutive.

7. Operating Segment Information

The Company provides online financial services to alternative credit consumers and small businesses in the United States, United Kingdom and Brazil and has one reportable segment, which is composed of the Company’s domestic and international operations and corporate services. Corporate services primarily includes personnel, occupancy and other operating expenses for shared functions, such as executive management, technology, analytics, business development, legal and licensing, compliance, risk management, internal audit, human resources, payroll, treasury, finance, accounting, and tax. Corporate Services assets primarily include: corporate property

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ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

and equipment, nonqualified savings plan assets, marketable securities, restricted cash and prepaid expenses. The Company has aggregated all components of its business into a single reportable segment based on the similarities of the economic characteristics, the nature of the products and services, the nature of the production and distribution methods, the type of customer and the nature of the regulatory environment.

The following tables present information on the Company’s domestic, international operations and corporate services as of and for the three and nine months ended September 30, 2017 and 2016 (dollars in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017			2016
Revenue
Domestic	$	181,584		$	165,330		$	504,326		$	449,100
International		36,294			30,613			95,719			94,031
Total revenue	$	217,878		$	195,943		$	600,045		$	543,131
Income (Loss) from operations
Domestic	$	55,767		$	44,015		$	176,402		$	148,717
International		(1,983	)		5,659			3,939			16,136
Corporate services		(26,107	)		(21,577	)		(79,389	)		(76,100	)
Total income from operations	$	27,677		$	28,097		$	100,952		$	88,753
Depreciation and amortization
Domestic	$	1,634		$	1,385		$	4,692		$	4,552
International		396			409			1,136			1,813
Corporate services		1,503			1,995			4,568			5,639
Total depreciation and amortization	$	3,533		$	3,789		$	10,396		$	12,004
Expenditures for property and equipment
Domestic	$	2,231		$	2,395		$	4,271		$	5,425
International		1,281			1,043			3,401			2,489
Corporate services		1,991			379			3,132			3,552
Total expenditures for property and equipment	$	5,503		$	3,817		$	10,804		$	11,466

	September 30,
	2017		2016
Property and equipment, net
Domestic	$	22,541	$	19,259
International		7,106		5,094
Corporate services		16,910		23,133
Total property and equipment, net	$	46,557	$	47,486
Assets
Domestic	$	899,495	$	823,737
International		126,583		98,842
Corporate services		113,700		52,500
Total assets	$	1,139,778	$	975,079

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ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Geographic Information

The following table presents the Company’s revenue by geographic region for the three and nine months ended September 30, 2017 and 2016 (dollars in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Revenue
United States	$	181,584	$	165,330	$	504,326	$	449,100
United Kingdom		30,679		26,793		82,528		78,882
Other international countries		5,615		3,820		13,191		15,149
Total revenue	$	217,878	$	195,943	$	600,045	$	543,131

The Company’s long-lived assets, which consist of the Company’s property and equipment, were $46.6 million and $47.5 million at September 30, 2017 and 2016, respectively. The operations for the Company’s domestic and international businesses are primarily located within the United States, and the value of any long-lived assets located outside of the United States is immaterial.

8. Commitments and Contingencies

Litigation

On March 8, 2013, Flemming Kristensen, on behalf of himself and others similarly situated, filed a purported class action lawsuit in the U.S. District Court of Nevada against the Company and other unaffiliated lenders and lead providers. The lawsuit alleges that the lead provider defendants sent unauthorized text messages to consumers on behalf of the Company and the other lender defendants in violation of the Telephone Consumer Protection Act. The complaint seeks class certification, statutory damages, an injunction against “wireless spam activities,” and attorneys’ fees and costs. The Company filed an answer to the complaint denying all liability. On March 26, 2014, the Court granted class certification. On July 20, 2015, the court granted the Company’s motion for summary judgment, denied Plaintiff’s motion for summary judgment and, on July 21, 2015, entered judgment in favor of the Company. Plaintiff filed a motion for reconsideration, which was denied. On May 3, 2016, Plaintiff filed a notice of appeal of the order granting summary judgment for the Company, the judgment in favor of the company, and the order denying Plaintiff’s motion to reconsider. Appellate briefing is now complete, and the court has heard oral arguments. Neither the likelihood of an unfavorable appellate decision nor the ultimate liability, if any, with respect to this matter can be determined at this time, and the Company is currently unable to estimate a range of reasonably possible losses, as defined by ASC 450-20-20, Contingencies–Loss Contingencies–Glossary, for this litigation. The Company believes that the Plaintiff’s claims in the complaint are without merit and intends to vigorously defend this lawsuit.

The Company is also involved in certain routine legal proceedings, claims and litigation matters encountered in the ordinary course of its business. Certain of these matters may be covered to an extent by insurance or by indemnification agreements with third parties. The Company has recorded accruals in its consolidated financial statements for those matters in which it is probable that it has incurred a loss and the amount of the loss, or range of loss, can be reasonably estimated. In the opinion of management, the resolution of these matters will not have a material adverse effect on the Company’s financial position, results of operations or liquidity.

Headquarters Relocation

During 2014 the Company accelerated the lease expiration date for approximately 86,000 rentable square feet at its prior headquarters office space effective June 30, 2015. The Company relocated to its current headquarters in 2015 and recognized an expense of $3.7 million which was included as “General and administrative expense” and consisted of a lease exit liability of $2.9 million for the remaining lease payments, net of estimated sublease income of $1.7 million, and $0.8 million for the removal of property and restoration costs related to the prior headquarters lease. The Company did not incur further material costs related to the relocation.

The following table is a summary of the exit and disposal activity and liability balances as a result of the headquarters relocation for the nine months ended September 30, 2017 and the twelve months ended December 31, 2016 (in thousands):

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ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

	Lease Termination Costs			Other Exit Costs			Total
Balance at January 1, 2016	$	1,425		$	204		$	1,629
Payments		(1,132	)		—			(1,132	)
Adjustments		344			(69	)		275
Balance at December 31, 2016	$	637		$	135		$	772
Balance at January 1, 2017	$	637		$	135		$	772
Payments		(554	)		(9	)		(563	)
Adjustments		(83	)		(126	)		(209	)
Balance at September 30, 2017	$	—		$	—		$	—

9. Derivative Instruments

The Company has periodically used derivative instruments to manage risk from changes in market conditions that may affect the Company’s financial performance. The Company has primarily used derivative instruments to manage its primary market risks, which are interest rate risk and foreign currency exchange rate risk.

The Company has periodically used forward currency exchange contracts to minimize the effects of foreign currency risk in the United Kingdom. The forward currency exchange contracts are non-designated derivatives. Any gain or loss resulting from these contracts is recorded as income or loss and is included in “Foreign currency transaction gain” in the Company’s consolidated statements of income. As of September 30, 2017, the Company did not manage its exposure to risk from foreign currency exchange rate fluctuations through the use of forward currency exchange contracts in the United Kingdom or Brazil.

The Company had no outstanding derivative instruments as of September 30, 2017 and 2016 and December 31, 2016.

There were no effects of derivative instruments on the consolidated results of operations and accumulated other comprehensive income (“AOCI”) for the three months ended September 30, 2017 and 2016.

The following table presents information on the effect of derivative instruments on the consolidated results of operations and accumulated other comprehensive income for the nine months ended September 30, 2017 and 2016 (dollars in thousands):

	Gains (Losses)								Gains (Losses)
	Recognized in				Gains (Losses)				Reclassified From
	Income				Recognized in AOCI				AOCI into Income
	Nine Months Ended				Nine Months Ended				Nine Months Ended
	September 30,				September 30,				September 30,
	2017		2016		2017		2016		2017		2016
Non-designated derivatives:
Forward currency exchange contracts(1)	$	—	$	3,020	$	—	$	—	$	—	$	—
Total	$	—	$	3,020	$	—	$	—	$	—	$	—

(1) The gains (losses) on these derivatives substantially offset the (losses) gains on the economically hedged portion of the foreign intercompany balances.

10. Related Party Transactions

A current officer of the Company has an ongoing ownership interest in the small business from which the Company acquired certain assets and assumed certain liabilities in June 2015 (see Note 2 for additional information). In the normal course of business, the Company attains certain customer relationships from the small business by entering into transactions with the customers to provide additional RPA financing. In these transactions, the Company satisfies the customer’s existing RPA balance with the small business which terminates such customer’s responsibilities to the small business. During the nine months ended September 30, 2017 the Company did not attain any relationships through these transactions with the small business. During the nine months ended September 30, 2016, the Company paid $0.4 million to the small business to satisfy customers’ existing RPA balances. Pursuant to the acquisition, a subsidiary of the Company issued a promissory note to the small business in the amount of $3.0 million (the “Promissory Note”) and granted the company an opportunity to earn certain contingent purchase consideration (see Note 2 for additional information), both of which are

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ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

guaranteed by the Company. The Promissory Note accrues interest at a rate of 4.0% per annum and will mature on June 23, 2018. During the nine months ended September 30, 2017 and 2016, the Company incurred interest expense of $95 thousand and $91 thousand, respectively, related to the Promissory Note. In addition, as a condition precedent to the acquisition, a subsidiary of the Company executed a Transition Services Agreement with the small business from which the Company acquired certain assets whereby it agreed to provide certain transition services to the business for three years following the acquisition. During the nine months ended September 30, 2017 and 2016, the Company was paid $24 thousand and $27 thousand, respectively, for such services.

The Company and Cash America entered into an agreement in conjunction with the Spin-off for the Company to administer the consumer loan underwriting model utilized by Cash America’s Retail Services Division in exchange for a fee per transaction paid to the Company as well as the reimbursement of the Company’s direct third-party costs incurred in providing the service. The Company received $0.6 million and $0.7 million for the nine months ended September 30, 2017 and 2016, respectively, pursuant to this agreement.

Since May 30, 2014, amounts due from or due to Cash America or FirstCash have been settled a month in arrears. The balance due from FirstCash of $0.1 million as of September 30, 2017 and 2016 and December 31, 2016, respectively, is included in “Other receivables and prepaid expenses” in the consolidated balance sheets.

11. Variable Interest Entities

As part of the Company’s overall funding strategy and as part of its efforts to support its liquidity from sources other than its traditional capital market sources, the Company has established a securitization program through the 2016-1 and 2016-2 Securitization Facilities. The Company transferred certain consumer loan receivables to wholly owned, bankruptcy-remote special purpose subsidiaries (VIEs), which issue term notes backed by the underlying consumer loan receivables and are serviced by another wholly owned subsidiary.

The Company is required to evaluate the VIEs for consolidation. The Company has the ability to direct the activities of the VIEs that most significantly impact the economic performance of the entities as the servicer of the securitized loan receivables. Additionally, the Company has the right to receive residual payments, which expose it to potentially significant losses and returns. Accordingly, the Company determined it is the primary beneficiary of the VIEs and is required to consolidate them.

The assets and liabilities related to the VIEs are included in the Company’s consolidated financial statements and are accounted for as secured borrowings.

The Company parenthetically discloses on its consolidated balance sheets the VIE’s assets that can only be used to settle the VIE’s obligations and the VIE liabilities if the VIE’s creditors have no recourse against the Company’s general credit. The carrying amounts of consolidated VIE assets and liabilities associated with the Company’s securitization entities were as follows (dollars in thousands):

	September 30,				December 31,
	2017		2016		2016
Assets
Cash and cash equivalents	$	—	$	105	$	—
Restricted cash and cash equivalents		22,161		18,119		19,468
Loans and finance receivables, net		274,363		176,016		216,766
Other receivables and prepaid expenses		—		3		3
Other assets		2,056		—		2,459
Total assets	$	298,580	$	194,243	$	238,696
Liabilities
Accounts payable and accrued expenses	$	1,793	$	991	$	1,350
Long-term debt		185,771		134,537		163,550
Total liabilities	$	187,564	$	135,528	$	164,900

12. Fair Value Measurements

Recurring Fair Value Measurements

In accordance with ASC 820, Fair Value Measurements and Disclosures, certain of the Company’s assets and liabilities, which are carried at fair value, are classified in one of the following three categories:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data.

22

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Level 3: Unobservable inputs that are not corroborated by market data.

During the nine months ended September 30, 2017 and 2016, there were no transfers of assets or liabilities in or out of Level 1, Level 2 or Level 3 fair value measurements. It is the Company’s policy to value any transfers between levels of the fair value hierarchy based on end of period fair values.

The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2017 and 2016 and December 31, 2016 are as follows (dollars in thousands):

	September 30,			Fair Value Measurements Using
	2017			Level 1		Level 2		Level 3
Financial assets (liabilities):
Non-qualified savings plan assets(1)	$	1,443		$	1,443	$	—	$	—
Contingent consideration		(2,358	)		—		—		(2,358	)
Total	$	(915	)	$	1,443	$	—	$	(2,358	)
	September 30,			Fair Value Measurements Using
	2016			Level 1		Level 2		Level 3
Financial assets (liabilities):
Non-qualified savings plan assets(1)	$	1,528		$	1,528	$	—	$	—
Contingent consideration		(5,658	)		—		—		(5,658	)
Total	$	(4,130	)	$	1,528	$	—	$	(5,658	)
	December 31,			Fair Value Measurements Using
	2016			Level 1		Level 2		Level 3
Financial assets (liabilities):
Non-qualified savings plan assets(1)	$	1,590		$	1,590	$	—	$	—
Contingent consideration		(2,358	)		—		—		(2,358	)
Total	$	(768	)	$	1,590	$	—	$	(2,358	)

(1) The non-qualified savings plan assets are included in “Other receivables and prepaid expenses” in the Company’s consolidated balance sheets and have an offsetting liability of equal amount, which is included in “Accounts payable and accrued expenses” in the Company’s consolidated balance sheets.

The Company determined the fair value of the liability for the contingent consideration based on a probability-weighted discounted cash flow analysis. This analysis reflects the contractual terms of the purchase agreement and utilizes assumptions with regard to future earnings, probabilities of achieving such future earnings, the timing of expected payments and a discount rate. Significant increases with respect to assumptions as to future earnings and probabilities of achieving such future earnings would result in a higher fair value measurement while an increase in the discount rate would result in a lower fair value measurement. The fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in the fair value hierarchy.

The changes in the fair value of the contingent consideration, which isa Level 3 liability measured at fair value on a recurring basis, are summarized in the tables below for the nine months ended September 30, 2017 and 2016 (dollars in thousands):

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Contingent consideration		Total
Balance at December 31, 2015	$	5,658	$	5,658
Adjustments		—		—
Balance at September 30, 2016	$	5,658	$	5,658

23

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Contingent consideration		Total
Balance at December 31, 2016	$	2,358	$	2,358
Adjustments		—		—
Balance at September 30, 2017	$	2,358	$	2,358

Fair Value Measurements on a Non-Recurring Basis

The Company measures non-financial assets and liabilities such as property and equipment and intangible assets at fair value on a non-recurring basis or when events or circumstances indicate that the carrying amount of the assets may be impaired. At September 30, 2017 and 2016 and December 31, 2016, there were no assets or liabilities recorded at fair value on a non-recurring basis.

24

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Financial Assets and Liabilities Not Measured at Fair Value

The Company’s financial assets and liabilities as of September 30, 2017 and 2016 and December 31, 2016 that are not measured at fair value in the consolidated balance sheets are as follows (dollars in thousands):

	Balance at
	September 30,		Fair Value Measurements Using
	2017		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	110,054	$	110,054	$	—	$	—
Short-term loans and line of credit accounts, net (1)		176,437		—		—		176,437
Installment loans and RPAs, net (1)(4)		461,299		—		—		496,377
Restricted cash (5)		29,866		29,866		—		—
Investment in unconsolidated investee (2)(3)		6,703		—		—		6,703
Total	$	784,359	$	139,920	$	—	$	679,517
Financial liabilities:
Liability for estimated losses on consumer loans guaranteed by the Company	$	2,017	$	—	$	—	$	2,017
Promissory note		3,000		—		—		3,245
Securitization Notes		186,533		—		189,005		—
9.75% senior notes due 2021		342,407		—		363,796		—
8.50% senior notes due 2024		250,000		—		252,000		—
Total	$	783,957	$	—	$	804,801	$	5,262
	Balance at
	September 30,		Fair Value Measurements Using
	2016		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	45,681	$	45,681	$	—	$	—
Short-term loans and line of credit accounts, net (1)		147,992		—		—		147,992
Installment loans and RPAs, net (1)(4)		394,873		—		—		448,111
Restricted cash (5)		39,272		39,272		—		—
Investment in unconsolidated investee (2)(3)		6,703		—		—		6,703
Total	$	634,521	$	84,953	$	—	$	602,806
Financial liabilities:
Liability for estimated losses on consumer loans guaranteed by the Company	$	1,727	$	—	$	—	$	1,727
Promissory note		3,000		—		—		3,076
Credit agreement borrowings		15,000		—		—		15,000
Securitization Notes		136,953		—		139,911		—
9.75% senior notes due 2021		495,427		—		455,875		—
Total	$	652,107	$	—	$	595,786	$	19,803

25

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

	Balance at
	December 31,		Fair Value Measurements Using
	2016		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	39,934	$	39,934	$	—	$	—
Short-term loans and line of credit accounts, net (1)		162,824		—		—		162,824
Installment loans and RPAs, net (1)(4)		398,726		—		—		430,895
Restricted cash (5)		26,306		26,306		—		—
Investment in unconsolidated investee (2)(3)		6,703		—		—		6,703
Total	$	634,493	$	66,240	$	—	$	600,422
Financial liabilities:
Liability for estimated losses on consumer loans guaranteed by the Company	$	1,996	$	—	$	—	$	1,996
Promissory note		3,000		—		—		3,111
Securitization Notes		165,419		—		168,216		—
9.75% senior notes due 2021		495,622		—		495,940		—
Total	$	666,037	$	—	$	664,156	$	5,107

(1) Short-term loans, line of credit accounts, installment loans and RPAs are included in “Loans and finance receivables, net” in the consolidated balance sheets.

(2) Investment in unconsolidated investee is included in “Other assets” in the consolidated balance sheets.

(3) See Note 4 for additional information related to the investment in unconsolidated investee.

(4) Installment loan and RPAs, net include $274.4 million, $176.0 million and $216.8 million in net assets of consolidated VIEs as of September 30, 2017 and 2016 and December 31, 2016, respectively.

(5) Restricted cash includes $22.2 million, $18.1 million and $19.5 million in assets of consolidated VIEs as of September 30, 2017 and 2016 and December 31, 2016, respectively.

Cash and cash equivalents and restricted cash bear interest at market rates and have original maturities of less than 90 days. The carrying amount of restricted cash and cash equivalents approximates fair value.

Short-term loans, line of credit accounts, installment loans and RPAs are carried in the consolidated balance sheet net of the allowance for estimated losses, which is calculated by applying historical loss rates combined with recent default trends to the gross receivable balance. Short-term loans and line of credit accounts have relatively short maturity periods that are generally 12 months or less. The unobservable inputs used to calculate the fair value of these receivables include historical loss rates, recent default trends and estimated remaining loan term; therefore, the carrying value approximates the fair value. The fair value of installment loans and RPAs is estimated using discounted cash flow analyses, which consider interest rates on loans and discounts offered for receivables with similar terms to customers with similar credit quality, the timing of expected payments, estimated customer default rates and/or valuations of comparable portfolios. As of September 30, 2017 and 2016 and December 31, 2016, the fair value of the Company’s installment loans and RPAs was greater than the carrying value of these loans and finance receivables. Unsecured installment loans typically have terms between two and 60 months. RPAs typically have estimated delivery terms between six and 18 months.

The Company measures the fair value of its investment in unconsolidated investee using Level 3 inputs. Because the unconsolidated investee is a private company and financial information is limited, the Company estimates the fair value based on the best available information at the measurement date. As of September 30, 2017 and 2016 and December 31, 2016 the Company estimated the fair value of its investment to be approximately equal to the book value.

In connection with its CSO programs, the Company guarantees consumer loan payment obligations to unrelated third-party lenders for short-term and installment loans the Company arranges for consumers on the third-party lenders’ behalf and is required to purchase any defaulted loans it has guaranteed. The estimated fair value of the liability for estimated losses on consumer loans guaranteed by the Company was $2.0 million, $1.7 million and $2.0 million as of September 30, 2017 and 2016 and December 31, 2016, respectively. The Company measures the fair value of its liability for third-party lender-owned consumer loans under Level 3 inputs. The fair value of these liabilities is calculated by applying historical loss rates combined with recent default trends to the gross consumer loan balance. The unobservable inputs used to calculate the fair value of these loans include historical loss rates, recent default trends and estimated remaining loan terms; therefore, the carrying value of these liabilities approximates the fair value.

26

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

The Company measures the fair value of the Promissory Note using Level 3 inputs. The fair value of the Promissory Note is estimated using a discounted cash flow analysis. As of September 30, 2017 and 2016 and December 31, 2016, the Promissory Note had a higher fair value than the carrying value.

The Company measures the fair value of its Securitization Notes using Level 2 inputs. The fair value of the Company’s Securitization Notes is estimated based on quoted prices in markets that are not active. As of September 30, 2017 and 2016 and December 31, 2016, the Company’s Securitization Notes had a higher fair value than the carrying value.

The Company measures the fair value of its 9.75% senior notes due 2021 using Level 2 inputs. The fair value of the Company’s 9.75% senior notes due 2021 is estimated based on quoted prices in markets that are not active. As of September 30, 2017 and December 31, 2016, the Company’s 9.75% senior notes due 2021 had a higher fair value than the carrying value. As of September 30, 2016, the fair value of the Company’s 9.75% senior notes due 2021 was lower than the carrying value.

The Company measures the fair value of its 8.50% senior notes due 2024 using Level 2 inputs. The fair value of the Company’s 8.50% senior notes due 2024 is estimated based on quoted prices in markets that are not active. As of September 30, 2017 the Company’s 8.50% senior notes due 2024 had a higher fair value than the carrying value.

13. Condensed Consolidating Financial Statements

The Company’s Senior Notes are unconditionally guaranteed by certain of the Company’s subsidiaries (the “Guarantor Subsidiaries”) and are not secured by its other subsidiaries (the “Non-Guarantor Subsidiaries”). The Guarantor Subsidiaries are 100% owned, all guarantees are full and unconditional, and all guarantees are joint and several. As a result of the guarantee arrangements, the Company is required, in accordance with Rule 3-10 of Regulation S-X, to present the following condensed consolidating financial statements.

The condensed consolidating financial statements reflect the investments in subsidiaries of the Company using the equity method of accounting. The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions. Condensed consolidating financial statements of Enova International, Inc. (the “Parent”), its Guarantor Subsidiaries and Non-Guarantor Subsidiaries as of September 30, 2017 and 2016 and December 31, 2016 and for the periods ended September 30, 2017 and 2016 are shown on the following pages.

27

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

CONDENSED CONSOLIDATING BALANCE SHEETS

As of September 30, 2017

(dollars in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	54,055		$	50,996		$	5,003		$	—		$	110,054
Restricted cash		—			7,705			22,161			—			29,866
Loans and finance receivables, net		—			351,627			286,109			—			637,736
Income taxes receivable		105,140			(95,852	)		31			—			9,319
Other receivables and prepaid expenses		245			21,271			2,280			—			23,796
Property and equipment, net		—			45,925			632			—			46,557
Goodwill		—			267,015			—			—			267,015
Intangible assets, net		—			4,593			—			—			4,593
Investment in subsidiaries		362,991			45,924			—			(408,915	)		—
Intercompany receivable		343,514			—			—			(343,514	)		—
Other assets		1,826			6,960			2,056			—			10,842
Total assets	$	867,771		$	706,164		$	318,272		$	(752,429	)	$	1,139,778
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	$	13,795		$	62,348		$	2,754		$	—		$	78,897
Intercompany payables		—			252,154			91,360			(343,514	)		—
Deferred tax liabilities, net		(453	)		21,634			(500	)		—			20,681
Long-term debt		579,624			—			185,771			—			765,395
Total liabilities		592,966			336,136			279,385			(343,514	)		864,973
Commitments and contingencies
Stockholders' equity		274,805			370,028			38,887			(408,915	)		274,805
Total liabilities and stockholders' equity	$	867,771		$	706,164		$	318,272		$	(752,429	)	$	1,139,778

28

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

CONDENSED CONSOLIDATING BALANCE SHEETS

As of September 30, 2016

(dollars in thousands)

				Guarantor		Non-Guarantor
	Parent			Subsidiaries		Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	43,127	$	2,554		$	—		$	45,681
Restricted cash		—			21,152		18,120			—			39,272
Loans and finance receivables, net		—			358,142		184,723			—			542,865
Income taxes receivable		—			—		—			—			—
Other receivables and prepaid expenses		141			18,222		286			—			18,649
Property and equipment, net		—			47,050		436			—			47,486
Goodwill		—			267,012		—			—			267,012
Intangible assets, net		—			5,670		5			—			5,675
Investment in subsidiaries		278,999			22,358		—			(301,357	)		—
Intercompany receivable		413,472			—		—			(413,472	)		—
Other assets		460			7,979		—			—			8,439
Total assets	$	693,072		$	790,712	$	206,124		$	(714,829	)	$	975,079
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	$	16,386		$	67,931	$	1,116		$	—		$	85,433
Intercompany payables		—			357,650		55,826			(413,476	)		—
Income taxes currently payable		(56,364	)		61,521		(8	)		—			5,149
Deferred tax liabilities, net		(677	)		17,394		(484	)		—			16,233
Long-term debt		500,642			—		134,537			—			635,179
Total liabilities		459,987			504,496		190,987			(413,476	)		741,994
Commitments and contingencies
Stockholders' equity		233,085			286,216		15,137			(301,353	)		233,085
Total liabilities and stockholders' equity	$	693,072		$	790,712	$	206,124		$	(714,829	)	$	975,079

29

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

CONDENSED CONSOLIDATING BALANCE SHEETS

As of December 31, 2016

(dollars in thousands)

				Guarantor		Non-Guarantor
	Parent			Subsidiaries		Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	36,057	$	3,877		$	—		$	39,934
Restricted cash		—			6,838		19,468			—			26,306
Loans and finance receivables, net		—			335,160		226,390			—			561,550
Other receivables and prepaid expenses		127			19,095		302			—			19,524
Property and equipment, net		—			46,507		593			—			47,100
Goodwill		—			267,010		—			—			267,010
Intangible assets, net		—			5,400		4			—			5,404
Investment in subsidiaries		294,646			25,131		—			(319,777	)		—
Intercompany receivable		363,942			—		—			(363,942	)		—
Other assets		597			7,995		2,459			—			11,051
Total assets	$	659,312		$	749,193	$	253,093		$	(683,719	)	$	977,879
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	$	4,310		$	65,714	$	1,647		$	—		$	71,671
Intercompany payables		—			295,763		68,179			(363,942	)		—
Income taxes currently payable		(72,704	)		73,006		(20	)		—			282
Deferred tax liabilities, net		(354	)		15,156		(486	)		—			14,316
Long-term debt		486,361			—		163,550			—			649,911
Total liabilities		417,613			449,639		232,870			(363,942	)		736,180
Commitments and contingencies
Stockholders' equity		241,699			299,554		20,223			(319,777	)		241,699
Total liabilities and stockholders' equity	$	659,312		$	749,193	$	253,093		$	(683,719	)	$	977,879

30

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2017

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	178,908		$	40,374		$	(1,404	)	$	217,878
Cost of Revenue		—			79,349			27,992			—			107,341
Gross Profit		—			99,559			12,382			(1,404	)		110,537
Expenses
Marketing		—			26,423			577			—			27,000
Operations and technology		—			22,911			4,252			—			27,163
General and administrative		131			25,746			691			(1,404	)		25,164
Depreciation and amortization		—			3,486			47			—			3,533
Total Expenses		131			78,566			5,567			(1,404	)		82,860
(Loss) Income from Operations		(131	)		20,993			6,815			—			27,677
Interest expense, net		(14,238	)		(33	)		(4,021	)		—			(18,292	)
Foreign currency transaction gain		65			—			—			—			65
Loss on early extinguishment of debt		(14,927	)		—			—			—			(14,927	)
(Loss) Income before Income Taxes and Equity in Net Earnings of Subsidiaries		(29,231	)		20,960			2,794			—			(5,477	)
(Benefit from) provision for income taxes		(9,760	)		6,746			905			—			(2,109	)
(Loss) Income before Equity in Net Earnings of Subsidiaries		(19,471	)		14,214			1,889			—			(3,368	)
Net earnings of subsidiaries		16,103			1,889			—			(17,992	)		—
Net (Loss) Income	$	(3,368	)	$	16,103		$	1,889		$	(17,992	)	$	(3,368	)
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)		2,052			1,304			749			(2,053	)		2,052
Total other comprehensive gain (loss), net of tax		2,052			1,304			749			(2,053	)		2,052
Comprehensive (Loss) Income	$	(1,316	)	$	17,407		$	2,638		$	(20,045	)	$	(1,316	)

31

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2016

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	170,288		$	24,157		$	1,498		$	195,943
Cost of Revenue		—			78,283			17,108			—			95,391
Gross Profit		—			92,005			7,049			1,498			100,552
Expenses
Marketing		—			26,348			374			—			26,722
Operations and technology		—			19,505			1,132			—			20,637
General and administrative		37			18,539			1,233			1,498			21,307
Depreciation and amortization		—			3,761			28			—			3,789
Total Expenses		37			68,153			2,767			1,498			72,455
(Loss) Income from Operations		(37	)		23,852			4,282			—			28,097
Interest expense, net		(13,342	)		(123	)		(2,652	)		—			(16,117	)
Foreign currency transaction gain		145			—			—			—			145
(Loss) Income before Income Taxes and Equity in Net Earnings of Subsidiaries		(13,234	)		23,729			1,630			—			12,125
(Benefit from) provision for income taxes		(4,832	)		8,451			669			—			4,288
(Loss) Income before Equity in Net Earnings of Subsidiaries		(8,402	)		15,278			961			—			7,837
Net earnings of subsidiaries		16,239			961			—			(17,200	)		—
Net Income (Loss)	$	7,837		$	16,239		$	961		$	(17,200	)	$	7,837
Other comprehensive (loss) gain, net of tax:
Foreign currency translation (loss) gain		(1,245	)		(1,084	)		(160	)		1,244			(1,245	)
Total other comprehensive (loss) gain, net of tax		(1,245	)		(1,084	)		(160	)		1,244			(1,245	)
Comprehensive Income (Loss)	$	6,592		$	15,155		$	801		$	(15,956	)	$	6,592

32

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2017

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	497,081		$	106,902		$	(3,938	)	$	600,045
Cost of Revenue		—			197,281			71,806			—			269,087
Gross Profit		—			299,800			35,096			(3,938	)		330,958
Expenses
Marketing		—			68,686			1,307			—			69,993
Operations and technology		—			65,090			7,422			—			72,512
General and administrative		265			76,060			4,718			(3,938	)		77,105
Depreciation and amortization		—			10,261			135			—			10,396
Total Expenses		265			220,097			13,582			(3,938	)		230,006
(Loss) Income from Operations		(265	)		79,703			21,514			—			100,952
Interest expense, net		(40,780	)		(97	)		(11,649	)		—			(52,526	)
Foreign currency transaction gain		349			5			—			—			354
Loss on early extinguishment of debt		(14,927	)		—			—			—			(14,927	)
(Loss) Income before Income Taxes and Equity in Net Earnings of Subsidiaries		(55,623	)		79,611			9,865			—			33,853
(Benefit from) provision for income taxes		(18,889	)		27,034			3,351			—			11,496
(Loss) Income before Equity in Net Earnings of Subsidiaries		(36,734	)		52,577			6,514			—			22,357
Net earnings of subsidiaries		59,091			6,514			—			(65,605	)		—
Net Income (Loss)	$	22,357		$	59,091		$	6,514		$	(65,605	)	$	22,357
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)		4,561			4,197			365			(4,562	)		4,561
Total other comprehensive gain (loss), net of tax		4,561			4,197			365			(4,562	)		4,561
Comprehensive Income (Loss)	$	26,918		$	63,288		$	6,879		$	(70,167	)	$	26,918

33

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2016

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	478,434		$	64,697		$	—		$	543,131
Cost of Revenue		—			182,729			47,692			—			230,421
Gross Profit		—			295,705			17,005			—			312,710
Expenses
Marketing		—			72,488			1,012			—			73,500
Operations and technology		—			58,642			3,064			—			61,706
General and administrative		185			72,867			3,695			—			76,747
Depreciation and amortization		—			11,936			68			—			12,004
Total Expenses		185			215,933			7,839			—			223,957
(Loss) Income from Operations		(185	)		79,772			9,166			—			88,753
Interest (expense) income, net		(39,793	)		613			(8,878	)		—			(48,058	)
Foreign currency transaction gain		2,184			—			—			—			2,184
(Loss) Income before Income Taxes and Equity in Net Earnings of Subsidiaries		(37,794	)		80,385			288			—			42,879
(Benefit from) provision for income taxes		(14,977	)		31,853			115			—			16,991
(Loss) Income before Equity in Net Earnings of Subsidiaries		(22,817	)		48,532			173			—			25,888
Net earnings of subsidiaries		48,705			173			—			(48,878	)		—
Net Income (Loss)	$	25,888		$	48,705		$	173		$	(48,878	)	$	25,888
Other comprehensive (loss) gain, net of tax:
Foreign currency translation (loss) gain		(5,070	)		(6,342	)		1,270			5,072			(5,070	)
Total other comprehensive (loss) gain, net of tax		(5,070	)		(6,342	)		1,270			5,072			(5,070	)
Comprehensive Income (Loss)	$	20,818		$	42,363		$	1,443		$	(43,806	)	$	20,818

34

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Nine Months Ended September 30, 2017

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash Flows from Operating Activities	$	(17,931	)	$	346,948		$	(8,712	)	$	(9,008	)	$	311,297
Cash Flows from Investing Activities
Loans and finance receivables originated or acquired		—			(974,211	)		(24,122	)		—			(998,333	)
Securitized loans transferred		—			201,518			(201,518	)		—			—
Loans and finance receivables repaid		—			467,011			205,463			—			672,474
Change in restricted cash		—			(337	)		(2,693	)		—			(3,030	)
Purchases of property and equipment		—			(10,651	)		(153	)		—			(10,804	)
Capital contributions to subsidiaries		—			(11,785	)		—			11,785			—
Other investing activities		—			1,798			—			—			1,798
Net cash (used in) provided by investing activities		—			(326,657	)		(23,023	)		11,785			(337,895	)
Cash Flows from Financing Activities
(Payments for) proceeds from member's equity		—			(9,008	)		11,785			(2,777	)		—
Debt issuance costs paid		(9,564	)		—			—			—			(9,564	)
Debt prepayment penalty		(11,335	)		—			—			—			(11,335	)
Treasury shares purchased		(2,115	)		—			—			—			(2,115	)
Issuance of Senior Notes		250,000			—			—			—			250,000
Repayments of Senior Notes		(155,000	)		—			—			—			(155,000	)
Borrowings under revolving line of credit		30,000			—			—			—			30,000
Repayments under revolving line of credit, net		(30,000	)		—			—			—			(30,000	)
Borrowings under securitization facility		—			—			137,200			—			137,200
Repayments under securitization facility		—			—			(116,085	)		—			(116,085	)
Net cash provided by (used in) financing activities		71,986			(9,008	)		32,900			(2,777	)		93,101
Effect of exchange rates on cash		—			3,656			(39	)		—			3,617
Net increase in cash and cash equivalents		54,055			14,939			1,126			—			70,120
Cash and cash equivalents at beginning of year		—			36,057			3,877			—			39,934
Cash and cash equivalents at end of period	$	54,055		$	50,996		$	5,003		$	—		$	110,054

35

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Nine Months Ended September 30, 2016

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash Flows from Operating Activities	$	87,477		$	216,799		$	40,569		$	(44,138	)	$	300,707
Cash Flows from Investing Activities
Loans and finance receivables originated or acquired		—			(976,614	)		(10,641	)		—			(987,255	)
Securitized loans transferred		—			278,076			(278,076	)		—			—
Loans and finance receivables repaid		—			525,636			126,229			—			651,865
Change in restricted cash		—			(14,656	)		(18,120	)		—			(32,776	)
Purchases of property and equipment		—			(11,262	)		(204	)		—			(11,466	)
Capital contributions to subsidiaries		(43,962	)		(8,005	)		—			51,967			—
Other investing activities		—			72			—			—			72
Net cash (used in) provided by investing activities		(43,962	)		(206,753	)		(180,812	)		51,967			(379,560	)
Cash Flows from Financing Activities
(Payments for) proceeds from member's equity		—			(176	)		8,005			(7,829	)		—
Debt issuance costs paid		—			—			(3,516	)		—			(3,516	)
Treasury shares purchased		(115	)		—			—			—			(115	)
Borrowings under revolving line of credit		45,000			—			—			—			45,000
Repayments under revolving line of credit		(88,400	)		—			—			—			(88,400	)
Borrowings under securitization facility		—			—			218,961			—			218,961
Repayments under securitization facility		—			—			(82,008	)		—			(82,008	)
Net cash (used in) provided by financing activities		(43,515	)		(176	)		141,442			(7,829	)		89,922
Effect of exchange rates on cash		—			(7,670	)		216			—			(7,454	)
Net increase in cash and cash equivalents		—			2,200			1,415			—			3,615
Cash and cash equivalents at beginning of year		—			40,927			1,139			—			42,066
Cash and cash equivalents at end of period	$	—		$	43,127		$	2,554		$	—		$	45,681

14. Subsequent Events

Subsequent events have been reviewed through the date these financial statements were available to be issued.

Amendment of 2016-1 Securitization Facility

On October 20, 2017, the Company and certain of its subsidiaries amended and restated the 2016‑1 Securitization Facility (the “Amended Facility”). The counterparties to the Amended Facility included certain purchasers, the Administrative Agent and the Indenture Trustee. The Amended Facility relates to Receivables that have been and will be originated or acquired under the Company’s NetCredit brand by the Originators and that meet specified eligibility criteria. Under the Amended Facility, additional Receivables may be sold to the Issuer and serviced by another subsidiary of the Company.As of the Closing Date, the Issuer owned eligible Receivables with an outstanding principal balance equal to $226.4 million.

In connection with the amendment and restatement, all of the outstanding notes issued by the Issuer prior to the Closing Date were redeemed and the Issuer issued an initial term note with an initial principal amount of $181.1 million (the “2017 Initial Term Note”) and variable funding notes (the “2017 Variable Funding Notes”) with an aggregate committed availability of $75 million per quarter with an option to increase the commitment to $90 million with the consent of the holders of the 2017 Variable Funding Notes. As described below, the Issuer will subsequently issue term notes (the “2017 Term Notes”) and, together with the 2017 Initial Term Note and the 2017 Variable Funding Notes, (the “2017 Securitization Notes”) at the end of each calendar quarter. The maximum principal amount of the 2017 Securitization Notes that may be outstanding at any time under the Amended Facility is $275 million.

On each of January 2, 2018, April 2, 2018, July 2, 2018, October 1, 2018, December 31, 2018 and April 1, 2019, the Receivables financed under the 2017 Variable Funding Notes will be allocated to a 2017 Term Note, which 2017 Term Note will be issued to the holders of the 2017 Variable Funding Notes and the 2017 Variable Funding Note on such date will be reduced to zero. The 2017

36

ENOVA INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Securitization Notes are non-recourse to the Company and mature at various dates, the latest of which will be April 15, 2021 (the “2017 Final Maturity Date”).

The 2017 Securitization Notes are issued pursuant to an amended and restated indenture, dated as of the Closing Date, between the Issuer and the Indenture Trustee. The 2017 Securitization Notes bear interest at a rate per annum equal to One-Month LIBOR (subject to a floor) plus 7.50%. In addition, the Issuer paid certain customary upfront closing fees to the Administrative Agent and will pay customary annual commitment and other fees to the purchasers under the Amended Facility. Subject to certain exceptions, the Issuer is not permitted to prepay or redeem any of the 2017 Securitization Notes prior to April 15, 2019 except for a one-time prepayment of the 2017 Securitization Notes related to a removal of Receivables in an amount no greater than $100 million. Following such date, the Issuer is permitted to voluntarily prepay any of the 2017 Securitization Notes, subject to an optional redemption premium. Interest and principal payments on the 2017 Securitization Notes will be made monthly. Any remaining amounts outstanding will be payable no later than the 2017 Final Maturity Date.

All amounts due under the 2017 Securitization Notes are secured by all of the Issuer’s assets, which include the Receivables transferred to the Issuer, related rights under the Receivables, specified bank accounts and certain other related collateral.

The Amended Facility documents contain customary provisions for securitizations, including: representations and warranties as to the eligibility of the Receivables and other matters; indemnification for specified losses not including losses due to the inability of consumers to repay their loans; covenants regarding special purpose entity matters and other subjects; and default and termination provisions which provide for the acceleration of the 2017 Securitization Notes under the Amended Facility in circumstances including, but not limited to, failure to make payments when due, servicer defaults, certain insolvency events, breaches of representations, warranties or covenants, failure to maintain the security interest in the receivables, and defaults under other material indebtedness.

On October 26, 2017, the Issuer and the Indenture Trustee amended the Amended Facility to permit a holder of a 2017 Term Note or the 2017 Initial Term Note to exchange its notes for notes with an alternative structure with terms not materially different to the Issuer than the exchanged Term Notes or Initial Term Notes.

37

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion of financial condition, results of operations, liquidity and capital resources and certain factors that may affect future results, including economic and industry-wide factors, of Enova International, Inc. and its subsidiaries should be read in conjunction with our consolidated financial statements and accompanying notes included under Part I, Item 1 of this Quarterly Report on Form 10-Q, as well as with Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the year ended December 31, 2016. This Management’s Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements. The matters discussed in these forward-looking statements are subject to risk, uncertainties, and other factors that could cause actual results to differ materially from those made, projected or implied in the forward-looking statements. Please see “Risk Factors” and “Cautionary Statement Concerning Forward-Looking Statements” for a discussion of the uncertainties, risks and assumptions associated with these statements.

BUSINESS OVERVIEW

We are a leading technology and analytics company focused on providing online financial services to consumers and small businesses. In 2016, we extended approximately $2.1 billion in credit to borrowers. As of September 30, 2017, we offered or arranged loans or draws on lines of credit to consumers in 33 states in the United States and in the United Kingdom and Brazil. We also offered financing to small businesses in all 50 states and Washington D.C. in the United States. We use our proprietary technology, analytics and customer service capabilities to quickly evaluate, underwrite and fund loans or provide financing, allowing us to offer consumers and small businesses credit or financing when and how they want it. Our customers include the large and growing number of consumers who and small businesses which have bank accounts but use alternative financial services because of their limited access to more traditional credit from banks, credit card companies and other lenders. We were an early entrant into online lending, launching our online business in 2004, and through September 30, 2017, we have completed over 42.2 million customer transactions and collected approximately 16 terabytes of currently accessible customer behavior data since launch, allowing us to better analyze and underwrite our specific customer base. We have significantly diversified our business over the past several years having expanded the markets we serve and the financing products we offer. These financing products include short-term loans, line of credit accounts, installment loans and receivables purchase agreements (“RPAs”).

We believe our customers highly value our products and services as an important component of their personal or business finances because our products are convenient, quick and often less expensive than other available alternatives. We attribute the success of our business to our advanced and innovative technology systems, the proprietary analytical models we use to predict the performance of loans and finance receivables, our sophisticated customer acquisition programs, our dedication to customer service and our talented employees.

We have developed proprietary underwriting systems based on data we have collected over our 13 years of experience. These systems employ advanced risk analytics to decide whether to approve financing transactions, to structure the amount and terms of the financings we offer pursuant to jurisdiction-specific regulations and to provide customers with their funds quickly and efficiently. Our systems closely monitor collection and portfolio performance data that we use to continually refine the analytical models and statistical measures used in making our credit, purchase, marketing and collection decisions.

Our flexible and scalable technology platform allows us to process and complete customers’ transactions quickly and efficiently. In 2016, we processed approximately 3.8 million transactions, and we continue to grow our loans and finance receivable portfolios and increase the number of customers we serve through desktop, tablet and mobile platforms. Our highly customizable technology platform allows us to efficiently develop and deploy new products to adapt to evolving regulatory requirements and consumer preference, and to enter new markets quickly. In 2012, we launched a new product in the United States designed to serve near-prime customers, and in April 2014 we introduced a similar product in the United Kingdom. In June 2014, we launched our business in Brazil, where we arrange financing for borrowers through a third party lender. In addition, in July 2014, we introduced a new line of credit product in the United States to serve the needs of small businesses. In June 2015, we further expanded our product offering by acquiring certain assets of a company that provides financing to small businesses by offering RPAs (see Note 2 in the Notes to Consolidated Financial Statements included in this report). In May 2017, we expanded products available to small businesses by offering installment loans. These new products are intended to allow us to further diversify our product offerings, customer base and geographic scope. In the nine-month period ended September 30, 2017, we derived 84.0% of our total revenue from the United States and 16.0% of our total revenue internationally, with 86.2% of international revenue (representing 13.8% of our total revenue) generated in the United Kingdom.

We have been able to consistently acquire new customers and successfully generate repeat business from returning customers when they need financing. We believe our customers are loyal to us because they are satisfied with our products and services. We acquire new customers from a variety of sources, including visits to our own websites, mobile sites or applications, and through direct marketing, affiliate marketing, lead providers and relationships with other lenders. We believe that the online convenience of our products and our 24/7 availability to accept applications with quick approval decisions are important to our customers.

38

Once a potential customer submits an application, we quickly provide a credit or purchase decision. If a loan or financing is approved, we or our lending partners typically fund the loan or financing the next business day or, in some cases, the same day. During the entire process, from application through payment, we provide access to our well-trained customer service team. All of our operations, from customer acquisition through collections, are structured to build customer satisfaction and loyalty, in the event that a customer has a need for our products in the future. We have developed a series of sophisticated proprietary scoring models to support our various products. We believe that these models are an integral component of our operations and they allow us to complete a high volume of customer transactions while actively managing risk and the related quality of our loan and finance receivable portfolios. We believe our successful application of these technology innovations differentiates our capabilities relative to competitive platforms as evidenced by our history of strong growth and stable portfolio quality.

PRODUCTS AND SERVICES

Our online financing products and services provide customers with a deposit of funds into their bank account in exchange for a commitment to repay the amount deposited plus fees, interest and/or revenue. We originate, arrange, guarantee or purchase short-term consumer loans, line of credit accounts, installment loans and RPAs. We have one reportable segment that includes all of our online financial services.

• Short-term consumer loans. Short-term consumer loans are unsecured loans written by us or by a third-party lender through our credit services organization and credit access business programs, which we refer to as our CSO programs, that we arrange and guarantee. As of September 30, 2017, we offered or arranged short-term consumer loans in 18 states in the United States and in the United Kingdom. Short-term consumer loans generally have terms of seven to 90 days, with proceeds promptly deposited in the customer’s bank account in exchange for a pre-authorized debit from their account. Due to the credit risk and high transaction costs of serving our customer segment, the interest and/or fees we charge are generally considered to be higher than the interest or fees charged to consumers with superior credit histories by banks and similar lenders who are typically unwilling to make unsecured loans to alternative credit consumers. Our short-term consumer loans contributed approximately 24.0% of our total revenue for the nine months ended September 30, 2017 and 26.9% for the nine months ended September 30, 2016.

• Line of credit accounts. As of September 30, 2017 we offered new consumer line of credit accounts in six states (and continue to service existing line of credit accounts in one additional state) in the United States and business line of credit accounts in 28 states in the United States, which allow customers to draw on their unsecured line of credit in increments of their choosing up to their credit limit. Customers may pay off their account balance in full at any time or make required minimum payments in accordance with the terms of their line of credit account. As long as the customer’s account is in good standing and has credit available, customers may continue to borrow on their line of credit. As a result of regulatory changes in 2014, we discontinued offering line of credit accounts to customers in the United Kingdom effective January 1, 2015. Our line of credit accounts contributed approximately 31.2% of our total revenue for the nine months ended September 30, 2017 and 29.2% for the nine months ended September 30, 2016.

• Installment loans. Installment loans are longer-term loans that require the outstanding principal balance to be paid down in multiple installments. We offer, or arrange through our CSO programs or market and purchase through our Bank program, multi-payment unsecured consumer installment loan products in 29 states in the United States and small business installment loans in 10 states. We also offer multi-payment unsecured consumer installment loan products in the United Kingdom and Brazil. Terms for our installment loan products range between two and 60 months. These loans generally have higher principal amounts than short-term loans. Loans may be repaid early at any time with no additional prepayment charges. Installment loans that we originated and purchased contributed approximately 42.7% of our total revenue for the nine months ended September 30, 2017 and 41.0% for the nine months ended September 30, 2016.

• Receivables purchase agreements. Under RPAs, small businesses receive funds in exchange for a portion of the business’s future receivables at an agreed upon discount. In contrast, lending is a commitment to repay principal and interest. A small business customer who enters into a RPA commits to delivering a percentage of its receivables through ACH or wire debits or by splitting credit card receipts until all purchased receivables are delivered. We offer RPAs in all 50 states and in Washington D.C. in the United States. Revenue earned from RPAs contributed 2.0% of our total revenue for the nine months ended September 30, 2017 and 2.7% for the nine months ended September 30, 2016.

• CSO Programs. Through our CSO programs, we provide services related to third-party lenders’ short-term and installment consumer loan products by acting as a credit services organization or credit access business on behalf of consumers in accordance with applicable state laws. Services offered under our CSO programs include credit-related services such as arranging loans with independent third-party lenders and assisting in the preparation of loan applications and loan documents (“CSO loans”). Under our CSO programs, we guarantee consumer loan payment obligations to the third party lender in the event the customer defaults on the loan. When a consumer executes an agreement with us under our CSO programs, we agree, for a fee payable to us by the consumer, to provide certain services, one of which is to guarantee the consumer’s obligation to repay the loan received by the consumer from the third-party lender if the consumer fails to do so. For CSO loans, each lender is responsible for providing the criteria by which the consumer’s application is underwritten and, if approved, determining the amount of the consumer loan. We

39

in turn are responsible for assessing whether or not we will guarantee such loan. The guarantee represents an obligation to purchase specific short-term loans, which generally have terms of less than 90 days, and specific installment loans, which have terms of four to 12 months, if they go into default.

As of September 30, 2017 and 2016, the outstanding amount of active short-term consumer loans originated by third-party lenders under the CSO programs was $24.2 million and $23.4 million, respectively, which were guaranteed by us.

As of September 30, 2017 and 2016, the outstanding amount of active installment loans originated by third-party lenders under the CSO programs was $4.7 million and $6.3 million, respectively, which were guaranteed by us.

• Bank program. In March 2016, we launched a program with a state-chartered bank where we provide technology, loan servicing and marketing services to the bank in 15 states and Washington D.C. in the United States as of September 30, 2017. Our bank partner offers unsecured consumer installment loans with an annual percentage rate (“APR”) at or below 36%. We also have the ability to purchase loans originated through this program. We plan to grow this program through expanding to more states and adding additional partners. Revenue generated from this program for the nine months ended September 30, 2017 and 2016 was 2.1% and less than 0.4% of our total revenue, respectively.

OUR MARKETS

We currently provide our services in the following countries:

• United States. We began our online business in the United States in May 2004. As of September 30, 2017, we provide services in all 50 states and Washington D.C. We market our financing products under the names CashNetUSA at www.cashnetusa.com, NetCredit at www.netcredit.com, Headway Capital at www.headwaycapital.com and The Business Backer at www.businessbacker.com.

• United Kingdom. We provide services in the United Kingdom under the names QuickQuid at www.quickquid.co.uk, Pounds to Pocket at www.poundstopocket.co.uk and On Stride Financial at www.onstride.co.uk. We began our QuickQuid short-term consumer loan business in July 2007, our Pounds to Pocket installment loan business in September 2010, and our On Stride near-prime installment loan business in April 2014.

• Brazil. On June 30, 2014, we launched our business in Brazil where we arrange installment loans for a third party lender under the name Simplic at www.simplic.com.br. We plan to continue to invest and expand our lending in Brazil.

Our internet websites and the information contained therein or connected thereto are not intended to be incorporated by reference into this Quarterly Report on Form 10-Q.

Exiting Australia and Canada Markets

We previously provided services under the name DollarsDirect at www.dollarsdirect.com.au in Australia, and we began providing services there in May 2009.We previously provided services in Canada in the provinces of Ontario, British Columbia, Alberta and Saskatchewan under the name DollarsDirect at www.dollarsdirect.ca, and we began providing services there in October 2009. Due to the small size of the Australian and Canadian markets and our limited operations there, we decided to exit those markets in 2016 and reallocate our resources to our other existing businesses. As a result, we have stopped lending activities and have wound down our loan portfolios.

RECENT REGULATORY DEVELOPMENTS

On November 29, 2016, the Financial Conduct Authority (“FCA”), our primary regulator in the United Kingdom, issued a Call for Input seeking evidence and feedback to further inform its previous reviews of the high-cost credit market, including a review of the loan price cap that was implemented on January 2, 2015. On July 31, 2017, the FCA published the outcome of its review and decided not to change the price cap but to review it again in three years. The FCA found that regulation of high-cost short-term credit, including the price cap, has led to substantial benefits to consumers. The FCA validated concerns about specific products and segments of the high-cost credit market, including unarranged overdrafts and long-term use of high-cost credit and the rent-to-own, home-collected credit and catalog credit markets. The FCA plans to investigate those products and segments further and issue a Consultation Paper on proposed solutions in the spring of 2018.

On July 4, 2017, the FCA issued a Consultation Paper on proposed changes to its rules and guidance on staff incentives, remuneration and performance management in consumer credit. The FCA completed a thematic review of staff incentives, remuneration and performance management and found that some firms have inadequate systems and controls to manage the risks of staff incentives. The FCA is consulting on measures to address risks that can arise from the way consumer credit firms pay or incentivize their staff. The FCA requested responses to the consultation paper by October 4, 2017, and expects to publish its Policy Statement and finalized guidance in the first quarter of 2018.

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On July 26, 2017, the FCA issued a Consultation Paper on proposed changes to its rules and guidance on individual accountability. The Senior Managers and Certification Regime currently applies to deposit taking institutions and, following the Bank of England and Financial Services Act 2016, is now being extended to FCA solo-regulated firms. The Senior Managers and Certification Regime would replace the Approved Persons Regime, changing how individuals working in financial services are regulated. The objective of the new Senior Managers and Certification Regime is to reduce harm to consumers and strengthen market integrity by making individuals more accountable for their conduct and competence. The FCA has requested responses to the consultation paper by November 3, 2017, and expects to publish its Policy Statement in the summer of 2018.

On July 31, 2017, the FCA issued a Consultation Paper on proposed changes to its rules and guidance on assessing creditworthiness in consumer credit. The FCA requested responses to the consultation by October 31, 2017, and expects to publish its findings in the second quarter of 2018.

On July 10, 2017, the CFPB issued a final rule on arbitration. The rule would have prohibited class action waivers in certain consumer financial services contracts beginning on March 19, 2018 and would have required financial services providers to submit certain records to the CFPB if arbitration were used to resolve disputes with consumers. However, on July 25, 2017, and October 24, 2017, respectively, the House and Senate each passed a resolution of disapproval of the rule, pursuant to their powers under the Congressional Review Act, and the President signed the bill on November 1, 2017. Because the rule was disapproved, it cannot be reissued in substantially the same form, and the CFPB cannot issue a substantially similar rule unless the new rule is specifically authorized by a law enacted after the date of the joint resolution disapproving the original rule.

On October 6, 2017, the CFPB issued its final rule on payday and certain high-cost installment loans, which would cover some of the loans we offer. The rule requires that lenders who make short-term loans and longer-term loans with balloon payments reasonably determine consumers’ ability to repay the loans according to their terms before issuing the loans. The rule also introduces new limitations on repayment processes for those lenders as well as lenders of other longer-term loans with an annual percentage rate greater than 36 percent that include an ACH authorization or similar payment provision. If a consumer has two consecutive failed payment attempts, the lender must obtain the consumer’s new and specific authorization to make further withdrawals from the consumer’s bank account. For loans covered by the rule, lenders must provide certain notices to consumers before attempting a first payment withdrawal or an unusual withdrawal and after two consecutive failed payment attempts. The rule will apply to loan contracts entered into beginning in mid-2019. However, under the Congressional Review Act, Congress has 60 legislative days after publication of the rule in the Federal Register (which has not yet occurred) to overturn it by a majority vote in both Houses of Congress. It is also likely that there will be legal challenges to the final rule.

CRITICAL ACCOUNTING POLICIES

There have been no changes in critical accounting policies as described in our Annual Report on Form 10-K for the year endedDecember 31, 2016.

Recent Accounting Pronouncements

See Note 1 in the Notes to Consolidated Financial Statements included in this report for a discussion of recent accounting pronouncements.

RESULTS OF OPERATIONS

HIGHLIGHTS

Our financial results for the three-month period ended September 30, 2017, or the current quarter, are summarized below.

• Consolidated total revenue increased $22.0 million, or 11.2%, to $217.9 million in the current quarter compared to $195.9 million for the three months ended September 30, 2016, or the prior year quarter. Domestic revenue increased $16.3 million, or 9.8%, to $181.6 million in the current quarter from $165.3 million for the prior year quarter and international revenue increased $5.7 million, or 18.6%, to $36.3 million from $30.6 million.

• Consolidated gross profit increased $10.0 million, or 9.9%, to $110.5 million in the current quarter compared to $100.5 million in the prior year quarter.

• Consolidated income from operations decreased $0.4 million, or 1.5%, to $27.7 million in the current quarter, compared to $28.1 million in the prior year quarter.

• Consolidated net loss was $3.4 million in the current quarter compared to net income of $7.8 million in the prior year quarter. Consolidated diluted loss per share was $0.10 in the current quarter compared to diluted earnings per share of $0.23 in the prior year quarter.

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OVERVIEW

The following tables reflect our results of operations for the periods indicated, both in dollars and as a percentage of total revenue (dollars in thousands, except per share data):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Revenue
Loans and finance receivables revenue	$	217,693		$	195,912		$	599,315		$	541,895
Other		185			31			730			1,236
Total Revenue		217,878			195,943			600,045			543,131
Cost of Revenue		107,341			95,391			269,087			230,421
Gross Profit		110,537			100,552			330,958			312,710
Expenses
Marketing		27,000			26,722			69,993			73,500
Operations and technology		27,163			20,637			72,512			61,706
General and administrative		25,164			21,307			77,105			76,747
Depreciation and amortization		3,533			3,789			10,396			12,004
Total Expenses		82,860			72,455			230,006			223,957
Income from Operations		27,677			28,097			100,952			88,753
Interest expense, net		(18,292	)		(16,117	)		(52,526	)		(48,058	)
Foreign currency transaction gain		65			145			354			2,184
Loss on early extinguishment of debt		(14,927	)		—			(14,927	)		—
(Loss) Income before Income Taxes		(5,477	)		12,125			33,853			42,879
(Benefit from) provision for income taxes		(2,109	)		4,288			11,496			16,991
Net (Loss) Income	$	(3,368	)	$	7,837		$	22,357		$	25,888
Diluted net (loss) income per share	$	(0.10	)	$	0.23		$	0.66		$	0.78
Revenue
Loans and finance receivables revenue		99.9	%		100.0	%		99.9	%		99.8	%
Other		0.1			—			0.1			0.2
Total Revenue		100.0			100.0			100.0			100.0
Cost of Revenue		49.3			48.7			44.8			42.4
Gross Profit		50.7			51.3			55.2			57.6
Expenses
Marketing		12.4			13.7			11.7			13.6
Operations and technology		12.5			10.5			12.1			11.4
General and administrative		11.5			10.9			12.9			14.1
Depreciation and amortization		1.6			1.9			1.7			2.2
Total Expenses		38.0			37.0			38.4			41.3
Income from Operations		12.7			14.3			16.8			16.3
Interest expense, net		(8.4	)		(8.2	)		(8.8	)		(8.8	)
Foreign currency transaction gain		—			0.1			0.1			0.4
Loss on early extinguishment of debt		(6.8	)		—			(2.5	)		—
(Loss) Income before Income Taxes		(2.5	)		6.2			5.6			7.9
(Benefit from) provision for income taxes		(1.0	)		2.2			1.9			3.1
Net (Loss) Income		(1.5	%)		4.0	%		3.7	%		4.8	%

NON-GAAP DISCLOSURE

In addition to the financial information prepared in conformity with generally accepted accounting principles, or GAAP, we provide historical non-GAAP financial information. Management believes that presentation of non-GAAP financial information is meaningful and useful in understanding the activities and business metrics of our operations. Management believes that these non-GAAP financial measures reflect an additional way of viewing aspects of our business that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting our business.

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Management provides non-GAAP financial information for informational purposes and to enhance understanding of our GAAP consolidated financial statements. Readers should consider the information in addition to, but not instead of or superior to, our financial statements prepared in accordance with GAAP. This non-GAAP financial information may be determined or calculated differently by other companies, limiting the usefulness of those measures for comparative purposes.

Adjusted Earnings Measures

In addition to reporting financial results in accordance with GAAP, we have provided adjusted earnings and adjusted earnings per share, or, collectively, the Adjusted Earnings Measures, which are non-GAAP measures. Management believes that the presentation of these measures provides investors with greater transparency and facilitates comparison of operating results across a broad spectrum of companies with varying capital structures, compensation strategies, derivative instruments and amortization methods, which provides a more complete understanding of our financial performance, competitive position and prospects for the future. Management also believes that investors regularly rely on non-GAAP financial measures, such as the Adjusted Earnings Measures, to assess operating performance and that such measures may highlight trends in our business that may not otherwise be apparent when relying on financial measures calculated in accordance with GAAP. In addition, management believes that the adjustments shown below are useful to investors in order to allow them to compare our financial results during the periods shown without the effect of each of these expense items.

The following table provides reconciliations between net (loss) income and diluted earnings per share calculated in accordance with GAAP to the Adjusted Earnings Measures, which are shown net of tax (in thousands, except per share data):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017			2016
Net (Loss) Income	$	(3,368	)	$	7,837		$	22,357		$	25,888
Adjustments:
Loss on early extinguishment of debt		14,927			—			14,927			—
Intangible asset amortization		269			271			811			867
Stock-based compensation expense		2,996			2,265			8,303			6,414
Foreign currency transaction gain		(65	)		(145	)		(354	)		(2,184	)
Cumulative tax effect of adjustments		(6,121	)		(902	)		(8,044	)		(2,020	)
Adjusted earnings	$	8,638		$	9,326		$	38,000		$	28,965
Diluted net (loss) income per share	$	(0.10	)	$	0.23		$	0.66		$	0.78
Adjustments:
Loss on early extinguishment of debt		0.44			—			0.44			—
Intangible asset amortization		0.01			0.01			0.02			0.03
Stock-based compensation expense		0.08			0.07			0.24			0.19
Foreign currency transaction gain		—			—			(0.01	)		(0.07	)
Cumulative tax effect of adjustments		(0.18	)		(0.03	)		(0.24	)		(0.06	)
Adjusted earnings per share	$	0.25		$	0.28		$	1.11		$	0.87

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Adjusted EBITDA

The table below shows Adjusted EBITDA, which is a non-GAAP measure that we define as earnings excluding depreciation, amortization, interest, foreign currency transaction gains or losses, taxes, and stock-based compensation expense. Management believes Adjusted EBITDA is used by investors to analyze operating performance and evaluate our ability to incur and service debt and our capacity for making capital expenditures. Adjusted EBITDA is also useful to investors to help assess our estimated enterprise value. In addition, management believes that the adjustment for loss on early extinguishment of debt shown below is useful to investors in order to allow them to compare our financial results during the periods shown without the effect of the expense item. The computation of Adjusted EBITDA, as presented below, may differ from the computation of similarly-titled measures provided by other companies (in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017			2016
Net (Loss) Income	$	(3,368	)	$	7,837		$	22,357		$	25,888
Depreciation and amortization expenses		3,533			3,789			10,396			12,004
Interest expense, net		18,292			16,117			52,526			48,058
Foreign currency transaction gain		(65	)		(145	)		(354	)		(2,184	)
(Benefit from) provision for income taxes		(2,109	)		4,288			11,496			16,991
Stock-based compensation expense		2,996			2,265			8,303			6,414
Adjustment:
Loss on early extinguishment of debt		14,927			—			14,927			—
Adjusted EBITDA	$	34,206		$	34,151		$	119,651		$	107,171
Adjusted EBITDA margin calculated as follows:
Total Revenue	$	217,878		$	195,943		$	600,045		$	543,131
Adjusted EBITDA		34,206			34,151			119,651			107,171
Adjusted EBITDA as a percentage of total revenue		15.7	%		17.4	%		19.9	%		19.7	%

Constant Currency Basis

In addition to reporting financial results in accordance with GAAP, we have provided certain other non-GAAP financial information on a constant currency basis. We operate in the United Kingdom and Brazil. During the current quarter and nine months ended September 30, 2017 16.7% and 16.0%, respectively, of our revenue originated in currencies other than the U.S. Dollar, principally the British Pound Sterling. As a result, changes in our reported revenue and profits include the impacts of changes in foreign currency exchange rates. As additional information to the reader, we provide constant currency assessments in the following discussion and analysis to remove and/or quantify the impact of the fluctuation in foreign exchange rates and utilize constant currency results in our analysis of performance. Our constant currency assessment assumes foreign exchange rates in the current fiscal periods remained the same as in the prior fiscal year periods. All conversion rates below are based on the U.S. Dollar equivalent to one of the applicable foreign currencies:

	Three Months Ended
	September 30,
	2017		2016		% Change
British Pound		1.3091		1.3133		(0.3	)%
Brazilian real		0.3162		0.3079		2.7	%
	Nine Months Ended
	September 30,
	2017		2016		% Change
British Pound		1.2760		1.3934		(8.4	)%
Brazilian real		0.3153		0.2833		11.3	%

Management believes that our non-GAAP constant currency assessments are a useful measure, as they indicate the actual growth and profitability of our operations.

Combined Loans and Finance Receivables Measures

In addition to reporting loans and finance receivables balance information in accordance with GAAP (see Note 3 in the Notes to Consolidated Financial Statements included in this report), we have provided metrics on a combined basis. The Combined Loans and

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Finance Receivables Measures are non-GAAP measures that include both loans and RPAs we own or have purchased and loans we guarantee, which are either GAAP items or disclosures required by GAAP. See “—Loan and Finance Receivable Balances,” “—Loans and Finance Receivables Loss Experience” and “—Loans and Finance Receivables Loss Experience by Product” below for reconciliations between Company owned and purchased loans and finance receivables, gross, allowance and liability for losses, cost of revenue and charge-offs (net of recoveries) calculated in accordance with GAAP to the Combined Loans and Finance Receivables Measures.

Management believes these non-GAAP measures provide investors with important information needed to evaluate the magnitude of potential receivable losses and the opportunity for revenue performance of the loans and finance receivable portfolio on an aggregate basis. Management also believes that the comparison of the aggregate amounts from period to period is more meaningful than comparing only the amounts reflected on our balance sheet since both revenue and cost of revenue are impacted by the aggregate amount of receivables we own and those we guarantee as reflected in our financial statements.

THREE MONTHS ENDED SEPTEMBER 30, 2017 COMPARED TO THREE MONTHS ENDED SEPTEMBER 30, 2016

Revenue and Gross Profit

Revenue increased $22.0 million, or 11.2%, to $217.9 million for the current quarter as compared to $195.9 million for the prior year quarter. Foreign currency exchange rates did not have a significant impact on revenue in the current quarter as compared to the prior year quarter. Our domestic operations contributed an increase of $16.3 million, primarily resulting from a 16.8% increase in line of credit account revenue and a 13.4% increase in installment loan and RPA revenue in the current quarter compared to the prior year quarter driven by strong customer demand for these products. Our international operations contributed an increase of $5.7 million, primarily resulting from a 34.6% increase in installment loan and RPA revenue and a 6.3% increase in short-term loan revenue.

Our gross profit increased by $10.0 million to $110.5 million for the current quarter from $100.5 million for the prior year quarter. Foreign currency exchange rates did not have a significant impact on gross profit in the current quarter as compared to the prior year quarter. Our consolidated gross profit as a percentage of revenue, or our gross profit margin, decreased to 50.7% for the current quarter, from 51.3% for the prior year quarter. The decrease in gross profit margin was primarily driven by the continued strong new customer growth of our installment and short-term portfolios, which requires higher loss provisions as new customers default at a higher rate than returning customers with a successful history of loan performance.

The following tables set forth the components of revenue and gross profit, separated by product and between domestic and international for the current quarter and the prior year quarter (in thousands):

	Three Months Ended September 30,
	2017			2016			$ Change			% Change
Revenue by product:
Short-term loans	$	49,875		$	51,999		$	(2,124	)		(4.1	)%
Line of credit accounts		68,889			59,090			9,799			16.6
Installment loans and RPAs		98,929			84,823			14,106			16.6
Total loans and finance receivables revenue		217,693			195,912			21,781			11.1
Other		185			31			154			496.8
Total revenue	$	217,878		$	195,943		$	21,935			11.2	%
Revenue by product (% to total):
Short-term loans		22.9	%		26.5	%
Line of credit accounts		31.6			30.2
Installment loans and RPAs		45.4			43.3
Total loans and finance receivables revenue		99.9			100.0
Other		0.1			—
Total revenue		100.0	%		100.0	%

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	Three Months Ended September 30,
	2017			2016			$ Change			% Change
Domestic:
Revenue	$	181,584		$	165,330		$	16,254			9.8	%
Cost of revenue		88,419			85,862			2,557			3.0
Gross profit	$	93,165		$	79,468		$	13,697			17.2
Gross profit margin		51.3	%		48.1	%		3.2	%		6.7	%
International:
Revenue	$	36,294		$	30,613		$	5,681			18.6	%
Cost of revenue		18,922			9,529			9,393			98.6
Gross profit	$	17,372		$	21,084		$	(3,712	)		(17.6	)
Gross profit margin		47.9	%		68.9	%		(21.0	)%		(30.5	)%
Total:
Revenue	$	217,878		$	195,943		$	21,935			11.2	%
Cost of revenue		107,341			95,391			11,950			12.5
Gross profit	$	110,537		$	100,552		$	9,985			9.9
Gross profit margin		50.7	%		51.3	%		(0.6	)%		(1.2	)%

Loan and Finance Receivable Balances

Our loan and finance receivable balance in our consolidated financial statements for September 30, 2017 and 2016 was $742.8 million and $637.6 million, respectively, before the allowance for losses of $105.1 million and $94.7 million, respectively. The combined loan and finance receivable balance includes $28.9 million and $29.7 million as of September 30, 2017 and 2016, respectively, of consumer loan balances that are guaranteed by us but not owned by us, which are not included in our consolidated financial statements for September 30, 2017 and 2016, respectively, before the liability for estimated losses of $2.0 million and $1.7 million provided in “Accounts payable and accrued expenses” in our consolidated financial statements for September 30, 2017 and 2016, respectively.

The ending portfolio balance of loans and finance receivables, net of allowance for losses, increased $94.9 million, or 17.5%, to $637.7 million as of September 30, 2017 from $542.9 million as of September 30, 2016, and the outstanding combined portfolio balance of loans and finance receivables, net of allowance and liability for estimated losses, increased $93.8 million, or 16.4%, to $664.7 million as of September 30, 2017 from $570.8 million as of September 30, 2016, primarily due to increased demand for all of our installment products and, to a lesser extent, our short-term and line of credit products. The outstanding loan balance for our domestic near-prime product increased 20.0% in the current quarter compared to the prior year quarter resulting in a domestic near-prime portfolio balance that comprises 42.8% of our total loan and finance receivable portfolio balance while short-term loans comprised approximately 11.9% of our total loan and finance receivable portfolio balance in the current quarter, compared to 12.5% in the prior year quarter. We expect this trend to continue as we increase the number of states offering a near-prime installment lending product under our bank program. Management expects the loan balances for our domestic near-prime installment loan product will continue to comprise a larger percentage of the total loan and finance receivable portfolio, due to customer demand for these products and their longer loan term. Our portfolio of loans and finance receivables serving the needs of small businesses decreased slightly to 10.9% in the current quarter from 13.3% in the prior year quarter as growth in the installment products has outpaced the growth of the small-business portfolio. See “—Non-GAAP Disclosure—Combined Loans and Finance Receivables” above for additional information related to combined loans and finance receivables.

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The following tables summarize loan and finance receivable balances outstanding as of September 30, 2017 and 2016 (in thousands):

	As of September 30,
	2017									2016
				Guaranteed									Guaranteed
	Company			by the						Company			by the
	Owned(a)			Company(a)			Combined(b)			Owned(a)			Company(a)			Combined(b)
Ending loans and finance receivables balances:
Short-term loans	$	67,719		$	24,248		$	91,967		$	60,124		$	23,379		$	83,503
Line of credit accounts		154,689			—			154,689			132,388			—			132,388
Installment loans and RPAs		520,388			4,695			525,083			445,100			6,321			451,421
Total ending loans and finance receivables, gross		742,796			28,943			771,739			637,612			29,700			667,312
Less: Allowance and liabilities for losses(a)		(105,060	)		(2,017	)		(107,077	)		(94,747	)		(1,727	)		(96,474	)
Total ending loans and finance receivables, net	$	637,736		$	26,926		$	664,662		$	542,865		$	27,973		$	570,838
Allowance and liability for losses as a % of loans and finance receivables, gross		14.1	%		7.0	%		13.9	%		14.9	%		5.8	%		14.5	%

	As of September 30,
	2017						2016
			Guaranteed						Guaranteed
	Company		by the				Company		by the
	Owned(a)		Company(a)		Combined(b)		Owned(a)		Company(a)		Combined(b)
Ending loans and finance receivables:
Total domestic, gross	$	640,793	$	28,943	$	669,736	$	556,056	$	29,700	$	585,756
Total international, gross		102,003		—		102,003		81,556		—		81,556
Total ending loans and finance receivables, gross	$	742,796	$	28,943	$	771,739	$	637,612	$	29,700	$	667,312

(a) GAAP measure. The loans and finance receivables balances guaranteed by us relate to loans originated by third-party lenders through the CSO programs and are not included in our financial statements.

(b) Except for allowance and liability for estimated losses, amounts shown represent non-GAAP measures.

Average Amount Outstanding per Loan

The average amount outstanding per loan is calculated as the total combined loans, gross balance at the end of the period divided by the total number of combined loans outstanding at the end of the period. The following table shows the average amount outstanding per loan by product at September 30, 2017 and 2016:

	As of September 30,
	2017		2016
Average amount outstanding per loan (in ones)(a)
Short-term loans(b)	$	480	$	462
Line of credit accounts		1,378		1,247
Installment loans(b)(c)		1,989		1,962
Total loans(b)(c)	$	1,333	$	1,252

(a) The disclosure regarding the average amount per loan and finance receivable is statistical data that is not included in our consolidated financial statements.

(b) Includes loans guaranteed by us, which represent loans originated by third-party lenders through the CSO programs and are not included in our consolidated financial statements.

(c) Excludes RPAs.

The average amount outstanding per loan increased to $1,333 from $1,252 during the current quarter compared to the prior year quarter, primarily due to a greater mix of installment loans and line of credit accounts, which have higher average amounts outstanding relative to short-term loans, in the current quarter compared to the prior year quarter.

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Average Loan Origination

The average loan origination amount is calculated as the total amount of combined loans originated and renewed for the period divided by the total number of combined loans originated and renewed for the period. The following table shows the average loan origination amount by product for the current quarter compared to the prior year quarter:

	Three Months Ended
	September 30,
	2017		2016
Average loan origination amount (in ones) (a)
Short-term loans (b)	$	459	$	455
Line of credit accounts (c)		314		315
Installment loans (b)(d)		1,661		1,849
Total loans (b)(d)	$	560	$	539

(a) The disclosure regarding the average loan origination amount is statistical data that is not included in our consolidated financial statements.

(b) Includes loans guaranteed by us, which represent loans originated by third-party lenders through the CSO programs and are not included in our consolidated financial statements.

(c) Represents the average amount of each incremental draw on line of credit accounts.

(d) Excludes RPAs.

The average loan origination amount increased to $560 from $539 during the current quarter compared to the prior year quarter, mainly due to a greater mix of installment loan originations which have higher principal amounts. The average installment loan origination decreased to $1,661 from $1,849 as sub-prime installment loan originations, which have lower origination amounts, outpaced the near-prime originations in the current quarter.

Loans and Finance Receivables Loss Experience

The allowance and liability for estimated losses as a percentage of combined loans and RPAs decreased to 13.9% as of September 30, 2017 from 14.5% as of September 30, 2016, primarily due to improved credit quality in the line of credit portfolio.

The cost of revenue in the current quarter was $107.4 million, which was composed of $107.3 million related to Company-owned loans and finance receivables and a $0.1 million increase in the liability for estimated losses related to loans we guaranteed through the CSO programs. The cost of revenue in the prior year quarter was $95.4 million, which was composed of $95.5 million related to Company-owned loans and finance receivables offset by a $0.1 million decrease in the liability for estimated losses related to loans we guaranteed through the CSO programs. Total charge-offs, net of recoveries, were $86.5 million and $74.3 million in the current quarter and the prior year quarter, respectively.

The following tables show loan and finance receivable balances and fees receivable and the relationship of the allowance and liability for losses to the combined balances of loans and finance receivables for each of the last five quarters (in thousands):

	2016						2017
	Third			Fourth			First			Second			Third
	Quarter			Quarter			Quarter			Quarter			Quarter
Loans and finance receivables:
Gross - Company owned	$	637,612		$	660,495		$	598,717		$	647,835		$	742,796
Gross - Guaranteed by the Company(a)		29,700			32,199			22,546			28,013			28,943
Combined loans and finance receivables, gross(b)		667,312			692,694			621,263			675,848			771,739
Allowance and liability for losses on loans and finance receivables		96,474			100,941			84,441			85,780			107,077
Combined loans and finance receivables, net(b)	$	570,838		$	591,753		$	536,822		$	590,068		$	664,662
Allowance and liability for losses as a % of loans and finance receivables, gross(b)		14.5	%		14.6	%		13.6	%		12.7	%		13.9	%

(a) Represents loans originated by third-party lenders through the CSO programs, which are not included in our consolidated financial statements.

(b) Non-GAAP measure.

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Loans and Finance Receivables Loss Experience by Product

Management evaluates loss rates for all financing products in our portfolio to determine credit quality and evaluate trends. For our products, we evaluate loans and finance receivables losses as a percentage of the average loan and finance receivable balance outstanding or the average combined loan and finance receivable balance outstanding, whichever is applicable, for each portfolio.

Short-term Loans

Demand for our short-term loan product in the United States has historically been highest in the third and fourth quarters of each year, corresponding to the holiday season, and lowest in the first quarter of each year, corresponding to our customers’ receipt of income tax refunds. Customer demand for short-term loans in both the United States and the United Kingdom has been very strong in 2017. This led to higher short-term consumer loan balances.

Our gross profit margin for short-term loans is typically highest in the first quarter of each year, corresponding to the seasonal decline in consumer loan balances outstanding. The cost of revenue as a percentage of the average combined loan balance for short-term loans outstanding is typically lower in the first quarter and generally peaks in the second half of the year with higher loan demand.

The following table includes information related only to short-term loans and shows our loss experience trends for short-term loans for each of the last five quarters (in thousands):

	2016						2017
	Third			Fourth			First			Second			Third
	Quarter			Quarter			Quarter			Quarter			Quarter
Short-term loans:
Cost of revenue	$	20,531		$	21,600		$	15,602		$	16,584		$	23,849
Charge-offs (net of recoveries)		15,956			21,021			18,975			15,539			20,439
Average short-term combined loan balance, gross:
Company owned(a)		60,761			59,728			58,729			57,653			65,949
Guaranteed by the Company(a)(b)		24,678			24,709			23,153			21,368			25,787
Average short-term combined loan balance, gross(a)(c)	$	85,439		$	84,437		$	81,882		$	79,021		$	91,736
Ending short-term combined loan balance, gross:
Company owned	$	60,124		$	63,005		$	53,205		$	61,565		$	67,719
Guaranteed by the Company(b)		23,379			26,092			18,854			24,123			24,248
Ending short-term combined loan balance, gross(c)	$	83,503		$	89,097		$	72,059		$	85,688		$	91,967
Ending allowance and liability for losses	$	19,184		$	19,486		$	16,205		$	17,449		$	21,047
Short-term loan ratios:
Cost of revenue as a % of average short-term combined loan balance, gross(a)(c)		24.0	%		25.6	%		19.1	%		21.0	%		26.0	%
Charge-offs (net of recoveries) as a % of average short-term combined loan balance, gross(a)(c)		18.7	%		24.9	%		23.2	%		19.7	%		22.3	%
Gross profit margin		60.5	%		56.8	%		67.1	%		64.5	%		52.2	%
Allowance and liability for losses as a % of combined loan balance, gross(c)(d)		23.0	%		21.9	%		22.5	%		20.4	%		22.9	%

(a) The average short-term combined loan balance is the average of the month-end balances during the period.

(b) Represents loans originated by third-party lenders through the CSO programs, which are not included in our consolidated financial statements.

(c) Non-GAAP measure.

(d) Allowance and liability for losses as a % of combined loan balance, gross, is determined using period-end balances.

Line of Credit Accounts

The cost of revenue as a percentage of average loan balance for line of credit accounts exhibits a similar quarterly seasonal trend to short-term loan loss rates as the ratio is typically lower in the first quarter and increases throughout the remainder of the year, peaking in the second half of the year with higher loan demand. The gross profit margin is generally lower for line of credit accounts as compared to short-term loans because the highest levels of default are exhibited in the early stages of the account, while revenue is recognized over the term of the account. Underwriting changes made in the second quarter of 2017 have led to improved credit quality and higher year over year gross margin. The year over year decrease in the allowance for losses as a percentage of loan balance was also driven by the underwriting changes in the second quarter of 2017.

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The following table includes information related only to line of credit accounts and shows our loss experience trends for line of credit accounts for each of the last five quarters (in thousands):

	2016						2017
	Third			Fourth			First			Second			Third
	Quarter			Quarter			Quarter			Quarter			Quarter
Line of credit accounts:
Cost of revenue	$	29,739		$	25,028		$	19,831		$	19,868		$	23,439
Charge-offs (net of recoveries)		20,973			25,229			24,660			18,786			19,476
Average loan balance(a)		126,371			138,259			135,621			128,348			145,398
Ending loan balance		132,388			144,183			124,498			134,154			154,689
Ending allowance for losses balance	$	26,795		$	26,594		$	21,765		$	22,847		$	26,810
Line of credit account ratios:
Cost of revenue as a % of average loan balance(a)		23.5	%		18.1	%		14.6	%		15.5	%		16.1	%
Charge-offs (net of recoveries) as a % of average loan balance(a)		16.6	%		18.2	%		18.2	%		14.6	%		13.4	%
Gross profit margin		49.7	%		59.7	%		66.6	%		66.2	%		66.0	%
Allowance for losses as a % of loan balance(b)		20.2	%		18.4	%		17.5	%		17.0	%		17.3	%

(a) The average loan balance for line of credit accounts is the average of the month-end balances during the period.

(b) Allowance for losses as a % of loan balance is determined using period-end balances.

Installment Loans and RPAs

The cost of revenue as a percentage of average loan and finance receivable balance for installment loans and RPAs is typically more consistent throughout the year as compared to short-term loans and line of credit accounts. Due to the scheduled monthly or bi-weekly payments and delivery of receivables that are inherent with installment loans and RPAs, we do not experience the higher level of repayments in the first quarter for these products as we experience with short-term loans and, to a lesser extent, line of credit accounts.

The gross profit margin is generally lower for the installment loan product than for other loan products, primarily because the highest levels of default are exhibited in the early stages of the loan, while revenue is recognized over the term of the loan. In addition, installment loans and RPAs typically have higher average origination amounts. Another factor contributing to the lower gross profit margin is that the product yield for installment loans and RPAs is typically lower than the yield for the other financing products we offer. As a result, particularly in periods of higher growth for the installment loan and RPA portfolios, which has been the case in recent years, the gross profit margin is typically lower for this product than for our short-term loan and line of credit products. Our average installment combined loan and RPA portfolio balance outstanding at September 30, 2017 increased 15.6% in the current quarter compared to the prior year quarter. During the current quarter, we experienced a lower gross profit margin than we experienced in the prior year quarter as a result of strong growth in our domestic sub-prime installment portfolio.

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The following table includes information related only to our installment loans and RPAs and shows our loss experience trends for installment loans and RPAs for each of the last five quarters (in thousands):

	2016						2017
	Third			Fourth			First			Second			Third
	Quarter			Quarter			Quarter			Quarter			Quarter
Installment loans and RPAs:
Cost of revenue	$	45,121		$	50,917		$	46,451		$	43,410		$	60,053
Charge-offs (net of recoveries)		37,383			46,411			55,179			44,443			46,598
Average installment and RPA combined loan and finance receivable balance, gross:
Company owned(a)		419,225			448,953			440,886			433,698			487,436
Guaranteed by the Company(a)(b)		6,600			6,093			4,874			3,631			4,628
Average installment and RPA combined loan and finance receivable balance, gross (a)(c)	$	425,825		$	455,046		$	445,760		$	437,329		$	492,064
Ending installment and RPA combined loan and finance receivable balance, gross:
Company owned	$	445,100		$	453,307		$	421,014		$	452,116		$	520,388
Guaranteed by the Company(b)		6,321			6,107			3,692			3,890			4,695
Ending installment and RPA combined loan and finance receivable balance, gross (c)	$	451,421		$	459,414		$	424,706		$	456,006		$	525,083
Ending allowance and liability for losses	$	50,495		$	54,861		$	46,471		$	45,484		$	59,220
Installment and RPA loan ratios:
Cost of revenue as a % of average installment and RPA combined loan and finance receivable balance, gross(a)(c)		10.6	%		11.2	%		10.4	%		9.9	%		12.2	%
Charge-offs (net of recoveries) as a % of average installment and RPA combined loan and finance receivable balance, gross (a)(c)		8.8	%		10.2	%		12.4	%		10.2	%		9.5	%
Gross profit margin		46.8	%		43.5	%		45.4	%		48.4	%		39.3	%
Allowance and liability for losses as a % of combined loan and finance receivable balance, gross(c)(d)		11.2	%		11.9	%		10.9	%		10.0	%		11.3	%

(a) The average installment and RPA combined loan and finance receivable balance is the average of the month-end balances during the period.

(b) Represents loans originated by third-party lenders through the CSO programs, which are not included in our consolidated financial statements.

(c) Non-GAAP measure.

(d) Allowance and liability for losses as a % of combined loan and finance receivable balance, gross, is determined using period-end balances.

Total Expenses

Total expenses increased $10.4 million, or 14.4%, to $82.9 million in the current quarter, compared to $72.5 million in the prior year quarter. Foreign currency exchange rates did not have a significant impact on total expenses in the current quarter as compared to the prior year quarter.

Marketing expense increased slightly to $27.0 million in the current quarter compared to $26.7 million in the prior year quarter. The slight increase was primarily due to higher direct mail costs related to our domestic products and volume from lead providers in both segments, partially offset by lower digital marketing costs.

Operations and technology expense increased to $27.2 million in the current quarter compared to $20.7 million in the prior year quarter, primarily due to higher volume-driven underwriting and transaction expenses and headcount costs in our call center.

General and administrative expense increased $3.9 million, or 18.1%, to $25.2 million in the current quarter compared to $21.3 million in the prior year quarter, primarily due to higher corporate services personnel costs primarily driven by an increase in headcount in the current quarter compared to the prior year quarter.

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Depreciation and amortization expense decreased $0.3 million, or 6.8%, in the current quarter compared to the prior year quarter, primarily due to the acceleration of depreciation in the prior year quarter resulting from the relocation of a datacenter in 2016.

Interest Expense, Net

Interest expense, net increased $2.2 million, or 13.5%, to $18.3 million in the current quarter compared to $16.1 million in the prior year quarter. The increase was primarily due to an increase in the average amount of debt outstanding, which increased $90.1 million to $717.4 million during the current quarter from $627.3 million during the prior year quarter, partially offset by a decrease in the weighted average interest rate on our outstanding debt to 10.34% during the current quarter from 10.42% during the prior year quarter.

(Benefit from) Provision for Income Taxes

(Benefit from) provision for income taxes decreased $6.4 million, or 149.2%, to a tax benefit of $2.1 million in the current quarter compared to a provision of $4.3 million in the prior year quarter. The decrease was primarily due to a 145.2% decrease in income before income taxes primarily related to the early extinguishment of a portion of our long-term debt.

As of September 30, 2017, the balance of unrecognized tax benefits was $631 thousand ($561 thousand net of the federal benefit of state matters), all of which, if recognized, would favorably affect the effective tax rate in any future periods. We had no unrecognized tax benefits as of September 30, 2016. We do not believe it is reasonably possible that, within the next twelve months, unrecognized domestic tax benefits will change by a significant amount. We record interest and penalties related to tax matters as income tax expense in the consolidated statement of income.

Our U.S. tax returns are subject to examination by federal and state taxing authorities. The IRS audits for tax years 2011 through 2014 were concluded with no adjustments to the financial statements. The 2015 tax year is open to examination by the IRS. The years open to examination by state, local, and foreign government authorities vary by jurisdiction, but the statute of limitation is generally three to four years from the date the tax return is filed.

Net (Loss) Income

Net (loss) income decreased $11.2 million, or 143.0%, to a net loss of $3.4 million during the current quarter compared to net income of $7.8 million during the prior year quarter. The decrease was primarily due to expenses related to the early extinguishment of a portion of our long-term debt.

NINE MONTHS ENDED SEPTEMBER 30, 2017 COMPARED TO NINE MONTHS ENDED SEPTEMBER 30, 2016

Revenue and Gross Profit

Revenue increased $56.9 million, or 10.5%, to $600.0 million for the nine-month period ended September 30, 2017, or current nine-month period, as compared to $543.1 million for the nine-month period ended September 30, 2016, or prior year nine-month period. On a constant currency basis, revenue increased by $63.1 million, or 11.6%, for the current nine-month period compared to the prior year nine-month period. Our domestic operations contributed an increase of $55.2 million, resulting from a 18.5% increase in line of credit revenue and a 14.0% increase in domestic installment loan and RPA revenue in the current nine-month period compared to the prior year nine-month period primarily driven by growth in our line of credit account and installment products. Additionally, international operations of revenue increased $1.7 million (an increase of $7.9 million on a constant currency basis).

Our gross profit increased by $18.3 million to $331.0 million for the current nine-month period from $312.7 million for the prior year nine-month period. On a constant currency basis, gross profit increased by $23.2 million for the current nine-month period compared to the prior year nine-month period. Our consolidated gross profit margin decreased to 55.2% for the current nine-month period, from 57.6% for the prior year nine-month period. The decrease in gross profit margin was primarily driven by the strong new customer growth of our domestic and international installment loan portfolios resulting in a higher mix of new customers overall which requires higher loss provisions as new customers default at a higher rate than returning customers with a successful history of loan performance. Management expects the consolidated gross profit margin will continue to be influenced by the mix of loans to new and returning customers, the mix of lower yielding and higher yielding loan products, and loan originations.

The following tables set forth the components of revenue and gross profit, separated by product and between domestic and international for the current nine-month period and the prior year nine-month period (in thousands):

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	Nine Months Ended September 30,
	2017			2016			$ Change			% Change
Revenue by product:
Short-term loans	$	144,074		$	146,237		$	(2,163	)		(1.5	)%
Line of credit accounts		187,172			158,338			28,834			18.2
Installment loans and RPAs		268,069			237,320			30,749			13.0
Total loans and finance receivables revenue		599,315			541,895			57,420			10.6
Other		730			1,236			(506	)		(40.9	)
Total revenue	$	600,045		$	543,131		$	56,914			10.5	%
Revenue by product (% to total):
Short-term loans		24.0	%		26.9	%
Line of credit accounts		31.2			29.2
Installment loans and RPAs		44.7			43.7
Total loans and finance receivables revenue		99.9			99.8
Other		0.1			0.2
Total revenue		100.0	%		100.0	%

	Nine Months Ended September 30,
	2017			2016			$ Change			% Change
Domestic:
Revenue	$	504,326		$	449,100		$	55,226			12.3	%
Cost of revenue		226,461			204,070			22,391			11.0
Gross profit	$	277,865		$	245,030		$	32,835			13.4
Gross profit margin		55.1	%		54.6	%		0.5	%		0.9	%
International:
Revenue	$	95,719		$	94,031		$	1,688			1.8	%
Cost of revenue		42,626			26,351			16,275			61.8
Gross profit	$	53,093		$	67,680		$	(14,587	)		(21.6	)
Gross profit margin		55.5	%		72.0	%		(16.5	)%		(22.9	)%
Total:
Revenue	$	600,045		$	543,131		$	56,914			10.5	%
Cost of revenue		269,087			230,421			38,666			16.8
Gross profit	$	330,958		$	312,710		$	18,248			5.8
Gross profit margin		55.2	%		57.6	%		(2.4	)%		(4.2	)%

Average Loan Origination

The average loan origination amount is calculated as the total amount of combined loans originated and renewed for the period divided by the total number of combined loans originated and renewed for the period. The following table shows the average loan origination amount by product for the current nine-month period compared to the prior year nine-month period:

	Nine Months Ended
	September 30,
	2017		2016
Average loan origination amount (in ones) (a)
Short-term loans (b)	$	453	$	455
Line of credit accounts (c)		297		305
Installment loans (b)(d)		1,617		1,810
Total loans (b)(d)	$	522	$	523

(a) The disclosure regarding the average loan origination amount is statistical data that is not included in our consolidated financial statements.

(b) Includes loans guaranteed by us, which represent loans originated by third-party lenders through the CSO programs and are not included in our consolidated financial statements.

(c) Represents the average amount of each incremental draw on line of credit accounts.

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(d) Excludes RPAs.

The average loan origination amount remained flat at $522 during the current nine-month period compared to $523 during the prior year nine-month period.

Loans and Finance Receivables Loss Experience

The cost of revenue in the current nine-month period was $269.0 million, which was composed of $269.0 million related to Company-owned loans and finance receivables. The cost of revenue in the prior year nine-month period was $230.4 million, which was composed of $230.4 million related to Company-owned loans and finance receivables. Total charge-offs, net of recoveries, were $264.1 million and $202.9 million in the current nine-month period and the prior year nine-month period, respectively.

Total Expenses

Total expenses increased $6.0 million, or 2.7%, to $230.0 million in the current nine-month period, compared to $224.0 million in the prior year nine-month period. On a constant currency basis, total expenses increased $7.6 million, or 3.4%, for the current nine-month period compared to the prior year nine-month period.

Marketing expense decreased to $70.0 million in the current nine-month period compared to $73.5 million in the prior year nine-month period. Lower online marketing costs were partially offset by higher direct mail costs.

Operations and technology expense increased to $72.5 million in the current nine-month period compared to $61.7 million in the prior year nine-month period, primarily due to higher personnel expenses, underwriting and transaction costs and software costs primarily related to our domestic operations.

General and administrative expense was flat increasing only $0.3 million, or 0.5%, to $77.1 million in the current nine-month period compared to $76.8 million in the prior year nine-month period.

Depreciation and amortization expense decreased $1.6 million, or 13.4%, in the current nine-month period compared to the prior year nine-month period, primarily due to the acceleration of depreciation in the prior year nine-month period resulting from our exit from the Australian and Canadian markets and the relocation of a datacenter in 2016.

Interest Expense, Net

Interest expense, net increased $4.4 million, or 9.3%, to $52.5 million in the current nine-month period compared to $48.1 million in the prior year nine-month period. The increase was primarily due to an increase in the average amount of debt outstanding, which increased $60.0 million to $663.5 million during the current nine-month period from $603.5 million during the prior year nine-month period, partially offset by a slight decrease in the weighted average interest rate on our outstanding debt to 10.58% during the current nine-month period from 10.75% during the prior year nine-month period.

(Benefit from) Provision for Income Taxes

(Benefit from) provision for income taxes decreased $5.5 million, or 32.3%, to $11.5 million in the current nine-month period compared to $17.0 million in the prior year nine-month period. The decrease was primarily due to the decrease in income before income taxes and share-based compensation excess tax benefits.

Net Income

Net income decreased $3.5 million, or 13.6%, to $22.4 million during the current nine-month period compared to $25.9 million during the prior year nine-month period. The decrease was primarily due to expenses related to the early extinguishment of a portion of our long-term debt and higher operating expenses partially offset by higher gross profit driven primarily by an additional contribution of $32.3 million from our domestic line of credit product in the current nine-month period compared to the prior year nine-month period.

LIQUIDITY AND CAPITAL RESOURCES

Capital Funding Strategy

Historically, we have generated significant cash flow through normal operating activities for funding both long-term and short-term needs. Our near-term liquidity is managed to ensure that adequate resources are available to fund our seasonal working capital growth, which is driven by demand for our loan and financing products, and to meet the continued growth in the demand for our near-prime

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installment products. On May 30, 2014, we issued and sold $500.0 million in 2021 Senior Notes. On September 1, 2017, we issued and sold $250.0 million in aggregate principal amount of 8.50% Senior Notes due 2024 (the “2024 Senior Notes”) and used the net proceeds, in part, to retire $155.0 million in 2021 Senior Notes. On June 30, 2017, we entered into an asset-backed secured revolving credit agreement(the “2017 Credit Agreement”) which replaced our previous credit agreement (the “2014 Credit Agreement”) that was terminated on June 30, 2017, as further described below under “Revolving Credit Facilities.” As of October 30, 2017, our available borrowings under the 2017 Credit Agreement were $32.0 million. On January 15, 2016 and December 1, 2016, we entered into the 2016‑1 and 2016‑2 Securitization Facilities, respectively, as further described below. On October 20, 2017, we amended and restated the 2016-1 Securitization Facility, as further described below. As of October 30, 2017, the outstanding balance under our securitization facilities was $196.3 million. We expect that our operating needs, including satisfying our obligations under our debt agreements and funding our working capital growth, will be satisfied by a combination of cash flows from operations, borrowings under the 2017 Credit Agreement, or any refinancing, replacement thereof or increase in borrowings thereunder, and securitization or sale of loans and finance receivables under our consumer loan securitization facilities.

As of September 30, 2017, we were in compliance with all financial ratios, covenants and other requirements set forth in our debt agreements. Unexpected changes in our financial condition or other unforeseen factors may result in our inability to obtain third-party financing or could increase our borrowing costs in the future. To the extent we experience short-term or long-term funding disruptions, we have the ability to adjust our volume of lending and financing to consumers and small businesses that would reduce cash outflow requirements while increasing cash inflows through repayments. Additional alternatives may include the securitization or sale of assets, increased borrowings under the 2017 Credit Agreement, or any refinancing or replacement thereof, and reductions in capital spending which could be expected to generate additional liquidity.

8.50% Senior Unsecured Notes Due 2024

On September 1, 2017, we issued and sold the 2024 Senior Notes. The 2024 Senior Notes were sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and outside the United States pursuant to Regulation S under the Securities Act. The 2024 Senior Notes bear interest at a rate of 8.50% annually on the principal amount payable semi-annually in arrears on March 1 and September 1 of each year, beginning on March 1, 2018. The 2024 Senior Notes were sold at a price of 100%. The 2024 Senior Notes will mature on September 1, 2024. The 2024 Senior Notes are unsecured debt obligations of ours, and are unconditionally guaranteed by certain of our domestic subsidiaries.

The 2024 Senior Notes are redeemable at our option, in whole or in part, (i) at any time prior to September 1, 2020 at 100% of the aggregate principal amount of 2024 Senior Notes redeemed plus the applicable “make whole” premium specified in the 2024 Senior Notes Indenture, plus accrued and unpaid interest, if any, to the redemption date and (ii) at any time on or after September 1, 2020 at the premium, if any, specified in the 2024 Senior Notes Indenture that will decrease over time, plus accrued and unpaid interest, if any, to the redemption date. In addition, prior to September 1, 2020, at our option, we may redeem up to 40% of the aggregate principal amount of the 2024 Senior Notes at a redemption price of 108.5% of the aggregate principal amount of 2024 Senior Notes redeemed, plus accrued and unpaid interest, if any, to the redemption date, with the proceeds of certain equity offerings as described in the 2024 Senior Notes Indenture.

The 2024 Senior Notes and the related guarantees have not been and will not be registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign securities laws.

We used the net proceeds of the 2024 Senior Notes offering to retire a portion of our outstanding 9.75% senior notes due 2021, to pay the related accrued interest, premiums, fees and expenses associated therewith and for general corporate purposes, which may include working capital and future repurchases of our outstanding debt securities.

Consumer Loan Securitization

2016‑1 Facility

On January 15, 2016, we and certain of our subsidiaries entered into a receivables securitization (as amended, the “2016‑1 Securitization Facility”) with certain purchasers, Jefferies Funding LLC, as administrative agent (the “Administrative Agent”) and Bankers Trust Company, as indenture trustee and securities intermediary (the “Indenture Trustee”). The 2016‑1 Securitization Facility securitizes unsecured consumer installment loans (“Receivables”) that have been, or will be, originated or acquired under our NetCredit brand and that meet specified eligibility criteria. Under the 2016‑1 Securitization Facility, Receivables are sold to a wholly-owned special purpose subsidiary (the “Issuer”) and serviced by another subsidiary.

The Issuer issued an initial term note of $107.4 million (the “Initial Term Note”), which was secured by $134 million in unsecured consumer loans, and variable funding notes (the “Variable Funding Notes”) with an aggregate availability of $20 million per month. As

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described below, the Issuer has issued and will subsequently issue term notes (the “Term Notes” and, together with the Initial Term Note and the Variable Funding Notes, the “Securitization Notes”). The maximum principal amount of the Securitization Notes that may be outstanding at any time under the 2016‑1 Securitization Facility is limited to $175 million.

At the end of each month during the nine-month revolving period, the Receivables funded by the Variable Funding Notes will be refinanced through the creation of two Term Notes, which Term Notes will be issued to the holders of the Variable Funding Notes. The non-recourse Securitization Notes mature at various dates, the latest of which will be October 15, 2020 (the “Final Maturity Date”). The 2016‑1 Securitization Facility has been amended to extend the revolving period to October 2017 and the latest maturity to October 2021, as discussed below.

The Securitization Notes are issued pursuant to an indenture, dated as of January 15, 2016 (the “Closing Date”). The Securitization Notes bear interest at an annual rate equal to the one month London Interbank Offered Rate (“LIBOR”) rate (subject to a floor of 1%) plus 7.75%, which rate is initially 8.75%. In addition, the Issuer paid certain customary upfront closing fees and will pay customary annual commitment and other fees to the purchasers under the 2016‑1 Securitization Facility. The Issuer is permitted to voluntarily prepay any outstanding Securitization Notes, subject to an optional redemption premium. Interest and principal payments on outstanding Securitization Notes are made monthly. Any remaining amounts outstanding will be payable no later than the Final Maturity Date. The Securitization Notes are supported by the cash flows from the underlying Receivables. The holders of the Securitization Notes have no recourse to us if the cash flows from the underlying Receivables are not sufficient to pay all of the principal and interest on the Securitization Notes unless the underlying Receivables breach the representations and warranties made by us as of the related sale date as described below. Additionally, the Receivables will be held by the Issuer at least until the obligations under the Securitization Notes are satisfied. For so long as the Receivables are owned by the Issuer, the outstanding Receivables will not be available to satisfy our other debts and obligations.

All amounts due under the Securitization Notes are secured by all of the Issuer’s assets, which include the Receivables transferred to the Issuer, related rights under the Receivables, specified bank accounts, and certain other related collateral.

The 2016‑1 Securitization Facility documents contain customary provisions for securitizations, including: representations and warranties as to the eligibility of the Receivables and other matters; indemnification for specified losses not including losses due to the inability of consumers to repay their loans; covenants regarding special purpose entity matters and other subjects; and default and termination provisions which provide for the acceleration of the Securitization Notes under the 2016‑1 Securitization Facility in circumstances including, but not limited to, failure to make payments when due, servicer defaults, certain insolvency events, breaches of representations, warranties or covenants, failure to maintain the security interest in the receivables, defaults under other material indebtedness and certain regulatory matters.

The agreements evidencing the 2016‑1 Facility, all dated as of the Closing Date, include (i) an Indenture between the Issuer and the Indenture Trustee, (ii) a Note Purchase Agreement among the Issuer, NetCredit Loan Services, LLC (f/k/a Enova Lending Services, LLC), as the Master Servicer, the Administrative Agent and certain purchasers, and (iii) a Receivables Purchase Agreement between us and Enova Finance 5, LLC. On July 26, 2016, we and certain of our subsidiaries entered into a First Omnibus Amendment (the “First Amendment”) of the 2016‑1 Facility that was established on the Closing Date, pursuant to various agreements with certain purchasers, the Administrative Agent and the Indenture Trustee. The First Amendment effected a variety of minor technical changes to the Indenture, the Note Purchase Agreement, the Receivables Purchase Agreement and the servicing agreement for the 2016‑1 Facility. These changes included revised procedures under the Note Purchase Agreement for the disbursement to the Issuer of proceeds from draws under the Variable Funding Notes and clarification of modifications that the servicer is permitted to effect to the terms of the Receivables that have been transferred into the EFR 2016‑1 Facility.

On August 17, 2016, we and one of our subsidiaries entered into an Amendment to the Receivables Purchase Agreement. This amendment modified an eligibility criterion for Receivables that we sell under the Agreement.

On September 12, 2016, we and certain of our subsidiaries entered into a Second Omnibus Amendment (the “Second Amendment”) to amend the Indenture and the Receivables Purchase Agreement. The Second Amendment authorized us to include in the 2016‑1 Facility Receivables originated by a state-chartered bank and acquired by a subsidiary of us from that bank, and it adjusted the Investment Pool Cumulative Net Loss Trigger for the Initial Term Note Investment Pool (as such terms are defined in the Indenture), which was the seasoned pool of receivables securitized under the 2016‑1 Facility on the Closing Date.

On October 20, 2016, we and certain of our subsidiaries entered into a Third Amendment and Limited Waiver (the “Third Amendment”) to amend the Indenture. The Third Amendment increased the maximum principal amount of the 2016‑1 Facility to $275 million, increased the Variable Funding Notes maximum principal amount to $40 million until December 31, 2016, and $30 million thereafter, and extended the term of the facility to October 2017. The Third Amendment also adjusted the Note Interest Rate on Term Notes issued after, and amounts outstanding under the Variable Funding Notes after, the date of the Third Amendment (as such terms are defined in the Indenture). The weighted average interest rate on such adjusted Notes will be 9.5%.

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On November 14, 2016, we and certain of our subsidiaries entered into a Fourth Amendment (the “Fourth Amendment”) to amend the Indenture and Receivables Purchase Agreement. The Fourth Amendment adjusted the Investment Pool Cumulative Delinquency Trigger (as such term is defined in the Indenture), with an effective date of October 31, 2016.

On December 14, 2016, we and certain of our subsidiaries entered into a Fifth Amendment (the “Fifth Amendment”) to amend the Indenture and Receivables Purchase Agreement. The Fifth Amendment adjusted the Investment Pool Cumulative Delinquency Trigger (as such term is defined in the Indenture) for the Initial Term Notes, with an effective date of November 30, 2016, expanded the categories of Receivables that could be financed through the 2016‑1 Facility and made certain other minor changes. These changes will provide us with additional flexibility under the 2016‑1 Facility.

2016‑2 Facility

On December 1, 2016, we and certain of our subsidiaries entered into a receivables securitization (the “2016‑2 Facility”) with Redpoint Capital Asset Funding, LLC, as lender (the “Lender”). The 2016‑2 Facility securitizes unsecured consumer installment loans (“Redpoint Receivables”) that have been and will be originated or acquired under our NetCredit brand by several of our subsidiaries (the “Originators”) and that meet specified eligibility criteria, including that the annual percentage rate for each securitized consumer loan is greater than or equal to 90%. Under the 2016‑2 Facility, Redpoint Receivables are sold to a wholly-owned special purpose subsidiary of ours (the “Debtor”) and serviced by another subsidiary of ours.

The Debtor has issued a revolving note with an initial maximum principal balance of $20.0 million (the “Initial Facility Size”), which is required to be secured by $25.0 million in unsecured consumer loans. The Initial Facility Size may be increased under the 2016‑2 Facility to $40 million. The 2016‑2 Facility is non-recourse to us and matures on December 1, 2019.

The 2016‑2 Facility is governed by a loan and security agreement, dated as of December 1, 2016, between the Lender and the Debtor. The 2016‑2 Facility bears interest at a rate per annum equal to LIBOR (subject to a floor) plus an applicable margin, which rate per annum was initially 12.50%. In addition, the Debtor paid certain customary upfront closing fees to the Lender. Interest payments on the 2016‑2 Facility will be made monthly. Subject to certain exceptions, the Debtor is not permitted to prepay the 2016‑2 Facility prior to October 1, 2018. Following such date, the Debtor is permitted to voluntarily prepay the 2016‑2 Facility without penalty. Any remaining amounts outstanding will be payable no later than December 1, 2019.

All amounts due under the 2016‑2 Facility are secured by all of the Debtor’s assets, which include the Redpoint Receivables transferred to the Debtor, related rights under the Redpoint Receivables, a bank account and certain other related collateral.

The 2016‑2 Facility documents contain customary provisions for securitizations, including: representations and warranties as to the eligibility of the Redpoint Receivables and other matters; indemnification for specified losses not including losses due to the inability of consumers to repay the related Receivables; and default and termination provisions which provide for the acceleration of the 2016‑2 Facility in circumstances including, but not limited to, failure to make payments when due certain insolvency events, breaches of representations, warranties or covenants, failure to maintain the security interest in the receivables and defaults under other material indebtedness of the Debtor.

Amended Facility

OnOctober 20, 2017, we and certain of our subsidiaries amended and restated the 2016‑1 Securitization Facility (the “Amended Facility”). The counterparties to the Amended Facility included certain purchasers, the Administrative Agent and the Indenture Trustee. The Amended Facility relates to Receivables that have been and will be originated or acquired under our NetCredit brand by the Originators and that meet specified eligibility criteria. Under the Amended Facility, additional Receivables may be sold to the Issuer and serviced by another subsidiary of ours.As of the Closing Date, the Issuer owned eligible Receivables with an outstanding principal balance equal to $226.4 million.

In connection with the amendment and restatement, all of the outstanding notes issued by the Issuer prior to the Closing Date were redeemed and the Issuer issued an initial term note with an initial principal amount of $181.1 million (the “2017 Initial Term Note”) and variable funding notes (the “2017 Variable Funding Notes”) with an aggregate committed availability of $75 million per quarter with an option to increase the commitment to $90 million with the consent of the holders of the 2017 Variable Funding Notes. As described below, the Issuer will subsequently issue term notes (the “2017 Term Notes”) and, together with the 2017 Initial Term Note and the 2017 Variable Funding Notes, (the “2017 Securitization Notes”) at the end of each calendar quarter. The maximum principal amount of the 2017 Securitization Notes that may be outstanding at any time under the Amended Facility is $275 million.

On each of January 2, 2018, April 2, 2018, July 2, 2018, October 1, 2018, December 31, 2018 and April 1, 2019, the Receivables financed under the 2017 Variable Funding Notes will be allocated to a 2017 Term Note, which 2017 Term Note will be issued to the holders of the 2017 Variable Funding Notes and the 2017 Variable Funding Note on such date will be reduced to zero. The 2017

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Securitization Notes are non-recourse to us and mature at various dates, the latest of which will be April 15, 2021 (the “2017 Final Maturity Date”).

The 2017 Securitization Notes are issued pursuant to an amended and restated indenture, dated as of the Closing Date, between the Issuer and the Indenture Trustee. The 2017 Securitization Notes bear interest at a rate per annum equal to One-Month LIBOR (subject to a floor) plus 7.50%. In addition, the Issuer paid certain customary upfront closing fees to the Administrative Agent and will pay customary annual commitment and other fees to the purchasers under the Amended Facility. Subject to certain exceptions, the Issuer is not permitted to prepay or redeem any of the 2017 Securitization Notes prior to April 15, 2019 except for a one-time prepayment of the 2017 Securitization Notes related to a removal of Receivables in an amount no greater than $100 million. Following such date, the Issuer is permitted to voluntarily prepay any of the 2017 Securitization Notes, subject to an optional redemption premium. Interest and principal payments on the 2017 Securitization Notes will be made monthly. Any remaining amounts outstanding will be payable no later than the 2017 Final Maturity Date.

All amounts due under the 2017 Securitization Notes are secured by all of the Issuer’s assets, which include the Receivables transferred to the Issuer, related rights under the Receivables, specified bank accounts and certain other related collateral.

The Amended Facility documents contain customary provisions for securitizations, including: representations and warranties as to the eligibility of the Receivables and other matters; indemnification for specified losses not including losses due to the inability of consumers to repay their loans; covenants regarding special purpose entity matters and other subjects; and default and termination provisions which provide for the acceleration of the 2017 Securitization Notes under the Amended Facility in circumstances including, but not limited to, failure to make payments when due, servicer defaults, certain insolvency events, breaches of representations, warranties or covenants, failure to maintain the security interest in the receivables, and defaults under other material indebtedness.

On October 26, 2017, the Issuer and the Indenture Trustee amended the Amended Facility to permit a holder of a 2017 Term Note or the 2017 Initial Term Note to exchange its notes for notes with an alternative structure with terms not materially different to the Issuer than the exchanged Term Notes or Initial Term Notes.

Revolving Credit Facilities

2017 Credit Agreement

On June 30, 2017, we and certain of our operating subsidiaries entered into an asset-backed secured revolving credit agreement with a syndicate of banks including TBK Bank, SSB (“TBK”), as Administrative Agent and Collateral Agent, Jefferies Finance LLC and TBK as Joint Lead Arrangers and Joint Lead Bookrunners, and Green Bank, N.A., as Lender.

The 2017 Credit Agreement is secured by domestic receivables and replaced the 2014 Credit Agreement (as described below). The borrowing limit in the 2017 Credit Agreement increased to $40 million from $35 million in the 2014 Credit Agreement, and its maturity date is May 1, 2020. We had no outstanding borrowings under the 2017 Credit Agreement as of September 30, 2017.

The 2017 Credit Agreement provides for a revolving credit line with interest on borrowings under the facility at prime rate plus 1.00%. In addition, the 2017 Credit Agreement provides for payment of a commitment fee calculated with respect to the unused portion of the line, and ranges from 0.30% per annum to 0.50% per annum depending on usage. A portion of the revolving credit facility, up to a maximum of $20 million, is available for the issuance of letters of credit. We had outstanding letters of credit under the 2017 Credit Agreement of $8.0 million as of September 30, 2017. The 2017 Credit Agreement provides for certain prepayment penalties if it is terminated on or before its first and second anniversary date, subject to certain exceptions.

The 2017 Credit Agreement contains certain limitations on the incurrence of additional indebtedness, investments, the attachment of liens to our property, the amount of dividends and other distributions, fundamental changes to us or our business and certain other of our activities. The 2017 Credit Agreement contains standard financial covenants for a facility of this type based on a leverage ratio and a fixed charge coverage ratio. The 2017 Credit Agreement also provides for customary affirmative covenants, including financial reporting requirements, and certain events of default, including payment defaults, covenant defaults and other customary defaults.

2014 Credit Agreement

On March 25, 2015, we and certain of our subsidiaries, as guarantors, entered into an amendment to our revolving credit facility with Jefferies Finance LLC, as administrative agent. The amendment reduced our unsecured revolving line of credit to $65.0 million (from $75.0 million) and increased an additional senior secured indebtedness basket to the greater of $20.0 million or 2.75% of consolidated total assets (as defined in the 2014 Credit Agreement) (from $15.0 million or 2% of consolidated total assets). In addition, the March 25, 2015 amendment revised certain definitions and provisions relating to limitations on indebtedness, investments, dispositions, fundamental changes and burdensome agreements to allow certain of our foreign subsidiaries, which opt to become guarantors of our obligations under the 2014 Credit Agreement, to be treated as domestic subsidiaries for purposes of those provisions.

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On December 29, 2015, we and certain of our subsidiaries, as guarantors, entered into an amendment to the 2014 Credit Agreement, which temporarily increased our unsecured revolving line of credit to $75.0 million, an increase of $15.0 million ($5.0 million on December 29, 2015 and $10.0 million on January 4, 2016). Once we received the proceeds from the 2016‑1 Securitization Facility, we repaid the outstanding balance on the revolving line of credit in full and, in accordance with the terms of the amendment, the revolving commitment amount was reduced to $40.0 million.

On June 30, 2016, we and certain of our subsidiaries, as guarantors, entered into an amendment to the 2014 Credit Agreement, which increased the maximum allowable leverage ratio (as defined in the 2014 Credit Agreement) for the fiscal quarter ended June 30, 2016 to 4.00 to 1.00 (from 3.00 to 1.00) and for the fiscal quarters ended September 30, 2016 and December 31, 2016 to 3.50 to 1.00 (in each case, from 3.00 to 1.00).

On September 30, 2016, we and certain of our subsidiaries, as guarantors, entered into an amendment to the 2014 Credit Agreement, which increased the maximum allowable leverage ratio (as defined in the 2014 Credit Agreement) for the fiscal quarters ended September 30, 2016 and thereafter to 4.25 to 1.00 (from 3.50 to 1.00) and decreased our unsecured revolving line of credit to $35.0 million.

Our 2014 Credit Agreement was terminated on June 30, 2017.

Cash Flows

Our cash flows and other key indicators of liquidity are summarized as follows (dollars in thousands):

	Nine Months Ended September 30,
	2017			2016
Cash flows provided by operating activities	$	311,297		$	300,707
Cash flows used in investing activities
Loans and finance receivables	$	(325,859	)	$	(335,390	)
Change in restricted cash		(3,030	)		(32,776	)
Purchases of property and equipment		(10,804	)		(11,466	)
Other investing activities		1,798			72
Total cash flows used in investing activities	$	(337,895	)	$	(379,560	)
Cash flows provided by financing activities	$	93,101		$	89,922

Cash Flows from Operating Activities

Net cash provided by operating activities increased $10.6 million, or 3.5%, to $311.3 million for the current nine-month period from $300.7 million for the prior year nine-month period. The increase was primarily driven by a $38.7 million increase in cost of revenue, a non-cash expense, during the current nine-month period, offset by a $3.5 million decrease in net income.

Other significant changes in net cash provided by operating activities for the current nine-month period compared to the prior year nine-month period included cash flows from the following activities:

• changes in the loss on early on extinguishment of debt resulted in a $14.9 million increase in net cash provided by operating activities;

• changes in deferred income taxes, net resulted in a $5.2 million increase in net cash provided by operating activities, primarily due to the change in the loan loss reserve balances;

• changes in accounts payable and accrued expenses resulted in a $21.1 million decrease in net cash provided by operating activities, primarily due to lower accrued expense liabilities and a lower fair value of the contingent consideration liability related to a prior acquisition; and

• changes in current income taxes resulted in a $20.3 million decrease in net cash provided by operating activities, primarily due to the prepayment of tax expenses.

Management believes cash flows from operations and available cash balances and borrowings under our consumer loan securitization facilities and 2017 Credit Agreement, which may include increased borrowings under our 2017 Credit Agreement, any refinancing or replacement thereof, and additional securitization of consumer loans, will be sufficient to fund our future operating liquidity needs, including to fund our working capital growth.

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Cash Flows from Investing Activities

Net cash used in investing activities decreased $41.7 million, or 11.0%, for the current nine-month period compared to the prior year nine-month period. This decrease was primarily due to a $9.5 million decrease in net cash invested in loans and finance receivables, reflecting a $20.6 million increase in payments received from customers partially offset by an $11.1 million increase in the amount of loan originated or acquired, as well as an increase in the change in restricted cash resulting in a $29.7 million decrease in cash used in investing activities.

Cash Flows from Financing Activities

Cash flows provided by financing activities for the current nine-month period primarily reflects $95.0 million in net borrowings under our senior notes facilities, $21.1 million in net borrowings under our securitization facilities, an $11.3 million penalty paid in connection with the early payment of our 2021 Senior Notes and $9.6 million of debt issuance costs paid in connection with the 2017 Credit Agreement and 2024 Senior Notes. Additionally, on September 15, 2017, we announced the Board of Directors had authorized a share repurchase program for the repurchase of up to $25.0 million of our common stock through December 31, 2019 (the “September 2017 Authorization”). During the current nine-month period, we paid $1.1 million to repurchase common stock under the September 2017 Authorization. Cash flows provided by financing activities for the prior year nine-month period primarily reflects $137.0 million in net borrowings under our 2016‑1 Securitization Facility, partially offset by $43.4 million of net repayments under our unsecured revolving line of credit under the Credit Agreement and $3.5 million of debt issuance costs paid in connection with the consumer loan securitization financing transactions.

OFF-BALANCE SHEET ARRANGEMENTS

In certain markets, we arrange for consumers to obtain consumer loan products from independent third-party lenders through our CSO programs. For consumer loan products originated by third-party lenders under the CSO programs, each lender is responsible for providing the criteria by which the customer’s application is underwritten and, if approved, determining the amount of the consumer loan. We are responsible for assessing whether or not we will guarantee such loan. When a customer executes an agreement with us under our CSO programs, we agree, for a fee payable to us by the customer, to provide certain services to the customer, one of which is to guarantee the customer’s obligation to repay the loan received by the customer from the third-party lender if the customer fails to do so. The guarantee represents an obligation to purchase specific loans if they go into default, which generally occurs after one payment is missed. As of September 30, 2017 and 2016, the outstanding amount of active consumer loans originated by third-party lenders under the CSO programs was $28.9 million and $29.7 million, respectively, which were guaranteed by us. The estimated fair value of the liability for estimated losses on consumer loans guaranteed by us of $2.0 million and $1.7 million, as of September 30, 2017 and 2016, respectively, is included in “Accounts payable and accrued expenses” in the consolidated balance sheets. Our CSO programs are further described under the caption “Products and Services” above.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Market risks relating to our operations result primarily from changes in foreign currency exchange rates. We do not engage in speculative or leveraged transactions, nor do we hold or issue financial instruments for trading purposes. There have been no material changes to our exposure to market risks since December 31, 2016.

ITEM 4. CONTROLS AND PROCEDURES

Under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, our management has evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, or the “Exchange Act”) as of September 30, 2017 (the “Evaluation Date”). Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that, as of the Evaluation Date, our disclosure controls and procedures are effective and provide reasonable assurance (i) to ensure that information required to be disclosed in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms; and (ii) to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosures.

There was no change in our internal control over financial reporting during the quarter ended September 30, 2017 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Our management, including our Chief Executive Officer and Chief Financial Officer, does not expect that our disclosure controls and procedures or internal controls will prevent or detect all possible misstatements due to error or fraud. Our disclosure controls and procedures and internal controls are, however, designed to provide reasonable assurance of achieving their objectives, and our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures are effective at that reasonable assurance level.

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PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

See the “Litigation” section of Note 8 of the notes to our unaudited consolidated financial statements of Part I, “Item 1 Financial Statements.”

ITEM 1A. RISK FACTORS

There have been no material changes from the Risk Factors described in Item 1A. “Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2016, except as follows:

The CFPB recently finalized a new rule that may affect the consumer lending industry, and this rule could have a material adverse effect on our U.S. consumer lending business.

On October 6, 2017, the CFPB issued its final rule on payday and certain high-cost installment loans, which would cover some of the loans we offer. The rule requires that lenders who make short-term loans and longer-term loans with balloon payments reasonably determine consumers’ ability to repay the loans according to their terms before issuing the loans. The rule also introduces new limitations on repayment processes for those lenders as well as lenders of other longer-term loans with an annual percentage rate greater than 36 percent that include an ACH authorization or similar payment provision. If a consumer has two consecutive failed payment attempts, the lender must obtain the consumer’s new and specific authorization to make further withdrawals from the consumer’s bank account. For loans covered by the rule, lenders must provide certain notices to consumers before attempting a first payment withdrawal or an unusual withdrawal and after two consecutive failed payment attempts. The rule will apply to loan contracts entered into beginning in mid-2019. However, under the Congressional Review Act, Congress has 60 legislative days after publication of the rule in the Federal Register (which has not yet occurred) to overturn it by a majority vote in both Houses of Congress. It is also likely that there will be legal challenges to the final rule. We cannot currently assess the likelihood of the rule becoming effective. If the rule does become effective, we will need to make certain changes to our underwriting, payment processes and customer notifications in our U.S. consumer lending business. If we are not able to execute these changes effectively because of unexpected complexities, costs or otherwise, we cannot guarantee that the final rule will not have a material adverse impact on our business, prospects, results of operations, financial condition and cash flows.

The lending and financing industry continues to be targeted by new laws or regulations in many jurisdictions that could restrict the lending and financing products and services we offer, impose additional compliance costs on us, render our current operations unprofitable or even prohibit our current operations.

Governments at the national, state and local levels, as well as international governments, may seek to impose new laws, regulatory restrictions or licensing requirements that affect the products or services we offer, the terms on which we may offer them, and the disclosure, compliance and reporting obligations we must fulfill in connection with our lending and financing business. They may also interpret or enforce existing requirements in new ways that could restrict our ability to continue our current methods of operation or to expand operations, impose significant additional compliance costs, and may have a negative effect on our business, prospects, results of operations, financial condition and cash flows. In some cases, these measures could even directly prohibit some or all of our current business activities in certain jurisdictions, or render them unprofitable and/or impractical to continue.

In recent years, consumer loans, and in particular the category commonly referred to as “payday loans,” which includes certain of our short-term loan products, have come under increased regulatory scrutiny that has resulted in increasingly restrictive regulations and legislation that makes offering such loans in certain states in the United States or the international countries where we operate (as further described below) less profitable or unattractive. Laws or regulations in some states in the United States require that all borrowers of certain short-term loan products be reported to a centralized database and limit the number of loans a borrower may receive or have outstanding. Other laws limit the availability of some of our consumer loan products in the United States to active duty military personnel, active members of the National Guard or members on active reserve duty and their spouses and immediate dependents.

Certain consumer advocacy groups and federal and state legislators and regulators have advocated that laws and regulations should be tightened so as to severely limit, if not eliminate, the type of loan products and services we offer to consumers, and this has resulted in both the executive and legislative branches of the U.S. federal government and state governmental bodies exhibiting an interest in debating legislation that could further regulate consumer loan products and services such as those that we offer. The U.S. Congress, as well as other similar federal, state and local bodies and similar international governmental authorities, have debated, and may in the future adopt, legislation or regulations that could, among other things, place a cap (or decrease a current cap) on the interest or fees that we can charge or a cap on the effective annual percentage rate that limits the amount of interest or fees that may be charged, ban or limit loan renewals or extensions of short-term loans (where the customer agrees to pay the current finance charge on a loan for the right to make payment of the outstanding principal balance of such loan at a later date plus an additional finance charge), including the rates to

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be charged for loan renewals or extensions, require us to offer an extended payment plan, limit origination fees for loans, require changes to our underwriting or collections practices, require lenders to be bonded or to report consumer loan activity to databases designed to monitor or restrict consumer borrowing activity, impose “cooling off” periods between the time a loan is paid off and another loan is obtained or prohibit us from providing any of our consumer loan products in the United States to active duty military personnel, active members of the National Guard or members on active reserve duty and their spouses and immediate dependents.

The Maryland General Assembly passed House Bill 1270 on March 31, 2017 and Senate Bill 527 on April 10, 2017. The governor of Maryland signed the legislation into law on May 25, 2017. The new law limits the total fees, charges and interest that can be assessed on unsecured revolving credit plans with Maryland consumers to an effective rate of 33% per year. The law went into effect on July 1, 2017 with regard to new revolving credit plans.

We cannot currently assess the likelihood of any future unfavorable federal, state, local or international legislation or regulations being proposed or enacted that could affect our products and services. We closely monitor proposed legislation in jurisdictions where we offer our loan products. Additional legislative or regulatory provisions could be enacted that could severely restrict, prohibit or eliminate our ability to offer a consumer or small business loan or financing product. In addition, under statutory authority, U.S. state regulators have broad discretionary power and may impose new licensing requirements, interpret or enforce existing regulatory requirements in different ways or issue new administrative rules, even if not contained in state statutes, that could adversely affect the way we do business and may force us to terminate or modify our operations in particular states or affect our ability to obtain new licenses or renew the licenses we hold.

Significant new laws and regulations have also been adopted in the United Kingdom, and further new laws and regulations will continue to be imposed. See “— The United Kingdom has imposed, and continues to impose, increased regulation of the short-term high-cost credit industry with the stated expectation that some firms will exit the market” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016 for additional information. Furthermore, legislative or regulatory actions may be influenced by negative perceptions of us and our industry, even if such negative perceptions are inaccurate, attributable to conduct by third parties not affiliated with us (such as other industry members), or attributable to matters not specific to our industry.

Any of these or other legislative or regulatory actions that affect our lending and financing business at the national, state, international and local level could, if enacted or interpreted differently, have a material adverse impact on our business, prospects, results of operations, financial condition and cash flows and could prohibit or directly or indirectly impair our ability to continue current operations.

Judicial decisions, CFPB rule-making or amendments to the Federal Arbitration Act could render the arbitration agreements we use illegal or unenforceable.

We include arbitration provisions in our consumer and business loan and financing agreements. These provisions are designed to allow us to resolve any customer disputes through individual arbitration rather than in court and explicitly provide that all arbitrations will be conducted on an individual and not on a class basis. Thus, our arbitration agreements, if enforced, have the effect of shielding us from class action liability. Our arbitration agreements do not generally have any impact on regulatory enforcement proceedings. We take the position that the arbitration provisions in loan and financing agreements, including class action waivers, are valid and enforceable; however, the enforceability of arbitration provisions is often challenged in court. If those challenges are successful, our arbitration and class action waiver provisions could be unenforceable, which could subject us to additional litigation, including additional class action litigation.

In addition, the U.S. Congress has considered legislation that would generally limit or prohibit mandatory arbitration agreements in consumer contracts and has enacted legislation with such a prohibition with respect to certain mortgage loan agreements and also certain consumer loan agreements to members of the military on active duty and their dependents. Further, the Dodd-Frank Act directed the CFPB to study consumer arbitration and report to the U.S. Congress, and it authorized the CFPB to adopt rules limiting or prohibiting consumer arbitration, consistent with the results of its study.

On July 10, 2017, the CFPB issued a final rule on arbitration. The rule would have prohibited class action waivers in certain consumer financial services contracts beginning on March 19, 2018 and would have required financial services providers to submit certain records to the CFPB if arbitration were used to resolve disputes with consumers. However, on July 25, 2017, and October 24, 2017, respectively, the House and Senate each passed a resolution of disapproval of the rule, pursuant to their powers under the Congressional Review Act, and the President signed the bill on November 1, 2017. Because the rule was disapproved, it cannot be reissued in substantially the same form, and the CFPB cannot issue a substantially similar rule unless the new rule is specifically authorized by a law enacted after the date of the joint resolution disapproving the original rule.

Any judicial decisions, legislation or other rules or regulations that impair our ability to enter into and enforce consumer arbitration agreements and class action waivers will increase our exposure to class action litigation as well as litigation in plaintiff-friendly

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jurisdictions, which would be costly and could have a material adverse effect on our business, prospects, results of operations, financial condition and cash flows.

The United Kingdom has imposed, and continues to impose, increased regulation of the short-term high-cost credit industry and previously stated its expectation that some firms will exit the market.

In the United Kingdom, the FCA regulates consumer credit and related activities pursuant to the FSMA and the FCA Handbook, which includes prescriptive rules and regulations and carries across many of the standards set out in the CCA and its secondary legislation as well as previous guidance initially set out by the OFT. The regulations under the FCA consumer credit regime are more prescriptive than the former U.K. consumer credit regime. The FSMA gives the FCA the power to authorize, supervise, examine and bring enforcement actions against providers of consumer credit, as well as to make rules for the regulation of consumer credit. On February 28, 2014, the FCA issued the CONC contained in the FCA Handbook. The CONC incorporates prescriptive regulations for consumer loans such as those that we offer, including mandatory affordability checks on borrowers, limiting the number of rollovers on short-term loans to two, restricting how lenders can advertise, banning advertisements that the FCA deems misleading, and introducing a limit of two unsuccessful attempts on the use of continuous payment authority (which provides a creditor the ability to directly debit a customer’s account for payment when authorized by the customer to do so) to pay off a loan. Certain provisions of the CONC took effect on April 1, 2014, and other provisions for high-cost short-term credit providers, such as the limits on rollovers, continuous payment authority and advertising, took effect on July 1, 2014. As a result of the FCA’s requirements, we made significant adjustments to many of our business practices in the United Kingdom, as discussed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016 “— Our primary regulators in the United Kingdom have previously expressed serious concerns about our compliance with applicable U.K. regulations, which caused us to make significant changes to our U.K. business that have impacted and will continue to negatively impact our operations and results, and this impact has been and will continue to be significant.”

On January 2, 2015, the FCA implemented a cap on the total cost of high-cost short-term credit, which includes a maximum rate of 0.8% of principal per day and limits the total fees, interest (including post-default interest) and charges (including late fees which are capped at £15) to an aggregate amount not to exceed 100% of the principal amount loaned. The final rule required us to make changes to all of our high-cost short-term products in the United Kingdom. As a result of the final rule, we discontinued offering line of credit accounts to new customers in the United Kingdom in late 2014 and effective January 1, 2015, we discontinued draws on existing line of credit accounts in the United Kingdom.

The FCA conducted a consultation in 2015 and published its response on September 28, 2015, allowing firms to use continuous payment authority to collect repayments where a customer is in arrears or default and the lender is exercising forbearance. The FCA also imposed a number of regulatory changes on credit brokers and lenders operating in the high-cost-short-term credit market in the United Kingdom. The FCA also implemented a provision that requires providers of high-cost short-term credit include a risk warning in all financial promotions, including previously exempted size-limited ads like SMS text messages and pay-per-click ads. The majority of these changes came into force on November 2, 2015.

On November 29, 2016, the FCA issued a Call for Input seeking evidence and feedback to further inform its previous reviews of the high-cost credit market, including a review of the loan price cap that was implemented on January 2, 2015. On July 31, 2017, the FCA published the outcome of its review and decided not to change the price cap but to review it again in three years. The FCA found that regulation of high-cost short-term credit, including the price cap, has led to substantial benefits to consumers. The FCA validated concerns about specific products and segments of the high-cost credit market, including unarranged overdrafts and long-term use of high-cost credit and the rent-to-own, home-collected credit and catalog credit markets. The FCA plans to investigate those products and segments further and issue a Consultation Paper on proposed solutions in the spring of 2018. We do not currently know what solutions the FCA may implement as a result or how any changes may affect our business operations. If any new rules or guidance significantly restrict the conduct of our business, such implementation could have a material adverse effect on our business, prospects, results of operations, financial condition and cash flows.

On July 31, 2017, the FCA issued a Consultation Paper on proposed changes to its rules and guidance on assessing creditworthiness in consumer credit. The FCA requested responses to the consultation by October 31, 2017 and expects to publish its findings in the second quarter of 2018. We do not currently know whether or how the FCA may amend its rules and guidance on assessing creditworthiness in consumer credit or how it will affect our business operations. If any new rules or guidance significantly restrict the conduct of our business, such implementation could have a material adverse effect on our business, prospects, results of operations, financial condition and cash flows.

During the years ended December 31, 2016 and 2015, our U.K. operations represented 13.9% and 19.9%, respectively, of our consolidated total revenue.

These changes that we have implemented or are required to implement in the future as a result of such legislative and regulatory activities could have a material adverse effect on our U.K. business, as discussed in our Annual Report on Form 10-K for the fiscal year ended

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December 31, 2016“— Our primary regulators in the United Kingdom have previously expressed serious concerns about our compliance with applicable U.K. regulations, which caused us to make significant changes to our U.K. business that have impacted and will continue to negatively impact our operations and results, and this impact has been and will continue to be significant ,” and “— Due to restructuring of the consumer credit regulatory framework in the United Kingdom, we are required to obtain full authorization from our U.K. regulators to continue providing consumer credit and perform related activities in the United Kingdom, and there is no guarantee that we will receive full authorization to continue offering consumer loans in the United Kingdom.” We cannot give any assurances that the result of the FCA’s review of the high-cost credit market and the loan price cap and any potential new rules will not have a material impact on our U.K. products and services.

The use of personal data for credit underwriting is highly regulated.

In the United States, the FCRA regulates the collection, dissemination and use of consumer information, including consumer credit information. Compliance with the FCRA and related laws and regulations concerning consumer reports has recently been under regulatory scrutiny. The FCRA requires us to provide a Notice of Adverse Action to a consumer loan applicant when we deny an application for credit, which, among other things, informs the applicant of the action taken regarding the credit application and the specific reasons for the denial of credit. The FCRA also requires us to promptly update any credit information reported to a consumer reporting agency about a consumer and to allow a process by which consumers may inquire about credit information furnished by us to a consumer reporting agency. Historically, the FTC has played a key role in the implementation, oversight, enforcement and interpretation of the FCRA. Pursuant to the Dodd-Frank Act, the CFPB has primary supervisory, regulatory and enforcement authority of FCRA issues, although the FTC also retains its enforcement role regarding the FCRA but shares that role in many respects with the CFPB. The CFPB has taken a more active approach than the FTC, including with respect to regulation, enforcement and supervision of the FCRA. Changes in the regulation, enforcement or supervision of the FCRA may materially affect our business if new regulations or interpretations by the CFPB or the FTC require us to materially alter the manner in which we use personal data in our credit underwriting.

In the United Kingdom, we are also subject to the requirements of the Data Protection Act 1988 (the “DPA”) and are required to be fully registered as a data-controller under the DPA. The DPA controls how organizations, businesses and/or the government use personal data and how they should process it. The current Data Protection regime will be strengthened by changes from the EU General Data Protection Regulation (“GDPR”), a regulation by which the European Parliament, the European Council and the European Commission intend to strengthen and unify data protection for individuals within the European Union (“EU”). It also addresses export of personal data outside the EU. The primary objectives of the GDPR are to give citizens back the control of their personal data and to simplify the regulatory environment for international business by unifying the regulation within the EU. When the GDPR takes effect, it will replace the data protection directive from 1995. The GDPR contains a number of new protections for EU data subjects and threatens significant fines and penalties for non-compliant data controllers and processors once it comes into effect. The regulation was adopted on April 27, 2016. It is effective May 25, 2018 after a two-year transition period and, unlike a directive, it does not require any enabling legislation to be passed by national governments.

On October 6, 2015, the European Court of Justice invalidated the so-called “Safe Harbor” framework, which previously evidenced compliance with the DPA and the European Union Data Protection Directive and allowed companies to pass European Union data to non-European Union countries if certain certification requirements were met by the company. Although many companies, including us, had Safe Harbor certification, the European Union and the United Kingdom provide other guidance regarding compliance with their data protection laws and regulations for companies who pass data outside the European Union. In addition, there are circumstances under which a company is exempt from complying with those laws and regulations. Despite the invalidation of the Safe Harbor framework, we believe we are exempt from and/or in compliance with all E.U. and U.K. privacy laws and regulations.

On February 2, 2016, the European Commission and the United States agreed on a new framework for transatlantic data flows: the “EU-US Privacy Shield”, which will replace the invalided Safe harbor framework. The EU-US Privacy Shield is a framework designed by the U.S. Department of Commerce (the “Commerce Department”) and European Commission to provide companies on both sides of the Atlantic with a mechanism to comply with EU personal data from the European Union to the United States in support of transatlantic commerce. On July 12, 2016, the European Commission adopted the EU-US Privacy Shield, which consists of four components: (i) the privacy shield principles, which is a code of conduct outlining protections for the handling of personal data; (ii) oversight and enforcement; (iii) ombudsperson mechanism; and (iv) safeguards and limitations. The Commerce Department began accepting certifications to the EU-US Privacy Shield on August 1, 2016. We expect to apply for certification to the EU-US Privacy Shield, and in the interim, despite the invalidation of the Safe Harbor framework, we believe we are exempt from and/or are in compliance with all E.U. and U.K. privacy laws and regulations.

On June 23, 2016, the United Kingdom voted to exit the European Union. The details and timeline of the exit have not yet been finalized. When the United Kingdom exits the European Union, it is expected that the United Kingdom will establish a new framework for data flow between the United Kingdom and the United States or will agree to continue the protections of the EU-US Privacy Shield for the transfer of personal data into and out of the United Kingdom. We expect to comply with any framework established by the United Kingdom for the transfer of personal data into and out of the United Kingdom.

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The oversight of the FCRA by both the CFPB and the FTC and any related investigation or enforcement activities or our failure to comply with the DPA may have a material adverse impact on our business, including our operations, our mode and manner of conducting business and our financial results.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table provides the information with respect to purchases made by us of shares of our common stock.

Period	Total Number of Shares Purchased(a)		Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plan(b)		Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan(b) (inthousands)
January 1 – January 31, 2017		—	$	—		—	$	—
February 1 – February 28, 2017		34,301		14.80		—		—
March 1 – March 31, 2017		2,122		13.55		—		—
April 1 – April 30, 2017		920		14.80		—		—
May 1 – May 31, 2017		—		—		—		—
June 1 – June 30, 2017		8,679		14.10		—		—
July 1 – July 31, 2017		22,610		16.22		—		—
August 1 – August 31, 2017		—		—		—		—
September 1 – September 30, 2017		80,000		13.45		80,000		23,924
Total		148,632	$	14.23		80,000	$	23,924

(a) Includes shares withheld from employees as tax payments for shares issued under the Company’s stock-based compensation plans of 34,301, 2,122, 920, 8,679, and 22,610 shares for the months of February, March, April, June, and July, respectively.

(b) On September 15, 2017, the Company announced the Board of Directors had authorized a share repurchase program for the repurchase of up to $25.0 million of the Company’s common stock through December 31, 2019 (the “September 2017 Authorization”). All share repurchases made under the September 2017 Authorization have been through open market transactions.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None.

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ITEM 6. EXHIBITS

Exhibit No.	Exhibit Description
4.1	Indenture, dated as of September 1, 2017, by and among Enova International, Inc., each of the guarantors party thereto and Computershare Trust Company, N.A., as trustee and the Form of 8.500% Senior Note due 2024 (included as Exhibit A) (incorporated by reference to Exhibit 4.1 to Current Report on Form 8-K, filed September 8, 2017)
4.2	Fourth Supplemental Indenture, dated as of September 1, 2017, by and among Enova International, Inc., CNU of Iowa, LLC, Computershare Trust Company, N.A. and Computer Trust Company of Canada, as trustee (incorporated by reference to Exhibit 4.2 to Current Report on Form 8-K, filed September 8, 2017)
10.1	Enova International, Inc. Supplemental Executive Retirement Plan, as amended and restated effective September 13, 2017
10.2	Second Amendment to Lease Agreement, dated September 13, 2017, between 175 Jackson L.L.C. and Enova International, Inc.
10.3	Form of Executive Change-in-Control Severance and Restrictive Covenant Agreement (Chief Executive Officer) (incorporated by reference to Exhibit 10.1 to Current Report on Form 8-K, filed September 15, 2017)
10.4	Form of Executive Change-in-Control Severance and Restrictive Covenant Agreement (Executive Officers other than the CEO) (incorporated by reference to Exhibit 10.2 to Current Report on Form 8-K, filed September 15, 2017)
10.5	Purchase Agreement by and among Enova International, Inc., the Guarantors party thereto and Jefferies LLC, as Representative of the Initial Purchasers listed therein, dated August 18, 2017 (incorporated by reference to Exhibit 10.1 to Current Report on Form 8-K, filed August 24, 2017)
31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: November 1, 2017	ENOVA INTERNATIONAL, INC.
	By:	/s/ Steven E. Cunningham
		Steven E. Cunningham
		Executive Vice President, Chief Financial Officer
		(On behalf of the Registrant and as Principal Financial Officer)

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EX-10.1

Exhibit 10.1

ENOVA INTERNATIONAL, INC.

AMENDED AND RESTATED

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

EFFECTIVE SEPTEMBER 13, 2017

ENOVA INTERNATIONAL, INC.

AMENDED AND RESTATED

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

Enova International, Inc. (the “Controlling Company”) originally established a Supplemental Executive Retirement Plan effective as of the 1st day of January, 2012 (the “Original Plan”), and now the Controlling Company desires as of ________, 2017 to amend, restate and replace in its entirety that Original Plan with the following Amended and Restated Supplemental Executive Retirement Plan as set forth herein (the “Plan”).

BACKGROUND AND PURPOSE

A.Goal.  The Controlling Company desires to provide certain of its designated key management employees (and those of its affiliated companies that participate in the Plan) with such amounts of deferred compensation as the terms of the Plan may permit and as the Controlling Company may determine.

B. Purpose.  The purpose of the Plan document is to set forth the terms and conditions pursuant to which these awards of deferred compensation may be made and to describe the nature and extent of the employees’ rights to such amounts.

C.Type of Plan.  The Plan constitutes an unfunded, nonqualified deferred compensation plan that benefits certain designated employees who are within a select group of key management or highly compensated employees.  It is intended that this Plan comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended.

TABLE OF CONTENTS

ARTICLE I DEFINITIONS				1
	1.1	Account		1
	1.2	Active Participant		1
	1.3	Administrative Committee		1
	1.4	Affiliate		1
	1.5	Beneficiary		1
	1.6	Board		1
	1.7	Cash America SERP		1
	1.8	Change in Control		1
	1.9	Code		2
	1.10	Company		2
	1.11	Compensation		2
	1.12	Compensation Committee		2
	1.13	Controlling Company		2
	1.14	Discretionary-Eligible Employee		3
	1.15	Discretionary Contributions		3
	1.16	Effective Date		3
	1.17	Eligible Employee		3
	1.18	ERISA		3
	1.19	FICA Tax		3
	1.20	Financial Hardship		3
	1.21	Investment Election		3
	1.22	Investment Funds		3
	1.23	Key Employee		3
	1.24	Payment Date		4
	1.25	Participant		4
	1.26	Plan		4
	1.27	Plan Year		4
	1.28	Savings Plan		4
	1.29	Separate from Service or Separation from Service		4
		(a)	Leaves of Absence	4
		(b)	Status Change	4
		(c)	Termination of Employment	5
	1.30	Supplemental-Eligible Employee		5
	1.31	Supplemental Contributions		5
	1.32	Surviving Spouse		5
	1.33	Trust or Trust Agreement		5
	1.34	Trust Fund		5
	1.35	Trustee		6
	1.36	Valuation Date		6
	1.37	Years of Service		6
ARTICLE II ELIGIBILITY AND PARTICIPATION				6
	2.1	Initial Eligibility Requirements		6
		(a)	Supplemental Contributions	6
		(b)	Discretionary Contributions	6

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	2.2	Procedure for Admission		6
	2.3	Cessation of Eligibility		6
ARTICLE III PARTICIPANTS’ ACCOUNTS AND CREDITING OF CONTRIBUTIONS				7
	3.1	Participants’ Accounts		7
		(a)	Establishment of Accounts	7
		(b)	Nature of Contributions and Accounts	7
		(c)	Several Liabilities	7
		(d)	General Creditors	7
	3.2	Supplemental Contributions		7
		(a)	Crediting of Supplemental Contributions	7
		(b)	Amount of Supplemental Contributions	7
	3.3	Discretionary Contributions		8
	3.4	Debiting of Distributions		8
	3.5	Crediting of Earnings		8
	3.6	Value of Account		8
	3.7	Vesting		9
		(a)	Time of Vesting	9
		(b)	Change in Control	9
		(c)	Job Abolishment	9
		(d)	Forfeiture	9
	3.8	Notice to Participants of Account Balances		9
	3.9	Good Faith Valuation Binding		9
	3.10	Errors and Omissions in Accounts		10
ARTICLE IV INVESTMENT FUNDS				10
	4.1	Selection by Administrative Committee		10
	4.2	Participant Direction of Deemed Investments		10
		(a)	Nature of Participant Direction	10
		(b)	Investment of Contributions	10
		(c)	Investment of Existing Account Balances	10
		(d)	Administrative Committee Discretion	11
ARTICLE V PAYMENT OF ACCOUNT BALANCES				11
	5.1	Amount of Benefit Payments		11
	5.2	Timing and Form of Distribution		11
		(a)	General Payment Date	11
		(b)	General Payment Form	11
		(c)	Modification of Defaults	11
	5.3	Cashout of Accounts		12
		(a)	Generally	12
		(b)	Documentation of Determination	12
		(c)	Six Month Delay for Key Employees	12
	5.4	Medium of Payment		12
	5.5	Death Benefits		12
	5.6	Hardship Withdrawals		12
	5.7	Taxes		13
		(a)	Amounts Payable Whether or Not Account is in Pay Status	13

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		(b)	Amounts Payable Only if Account is in Pay Status	13
	5.8	Offset Account by Amounts Owed to the Company		13
	5.9	No Acceleration of Account Payments		14
	5.10	Amounts Transferred from the Cash America SERP		14
ARTICLE VI CLAIMS				14
	6.1	Initial Claim		14
		(a)	Rights	14
		(b)	Procedure	14
	6.2	Appeal		15
	6.3	Satisfaction of Claims		15
ARTICLE VII SOURCE OF FUNDS; TRUST				15
	7.1	Source of Funds		15
	7.2	Trust		16
	7.3	Funding Prohibition under Certain Circumstances		16
ARTICLE VIII RIGHTS AND DUTIES UNDER THE PLAN				16
	8.1	Controlling Company Action		16
	8.2	Administrative Committee Organization and Action		16
	8.3	Rights and Duties		17
	8.4	Compensation, Indemnity and Liability		17
ARTICLE IX AMENDMENT AND TERMINATION				18
	9.1	Amendments		18
	9.2	Freezing or Termination of Plan		18
		(a)	Freezing	18
		(b)	Termination	18
ARTICLE X MISCELLANEOUS				18
	10.1	Beneficiary Designation		18
		(a)	General	18
		(b)	No Designation or Designee Dead or Missing	18
	10.2	Distribution pursuant to a Domestic Relations Order		19
	10.3	Taxation		19
	10.4	No Employment Contract		19
	10.5	Headings		19
	10.6	Gender and Number		20
	10.7	Assignment of Benefits		20
	10.8	Legally Incompetent		20
	10.9	Governing Law		20
	10.10	Exclusive Benefit		20

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Exhibit 10.1

STATEMENT OF AGREEMENT

To establish the Plan with the purposes and goals as hereinabove described, the Controlling Company hereby sets forth the terms and provisions of the Plan as follows:

Article I
DEFINITIONS

For purposes of the Plan, the following terms, when used with an initial capital letter, will have the meaning set forth below unless a different meaning plainly is required by the context.

1.1Account means, with respect to a Participant or Beneficiary, the total dollar amount or value evidenced by the last balance posted and actually credited in accordance with the terms of the Plan to the account record established for such Participant or Beneficiary.  As determined by the Administrative Committee, an Account may be subdivided into separate subaccounts.

1.2Active Participant means any Discretionary-Eligible Employee or Supplemental-Eligible Employee, as applicable, who has become a Participant and who has not been removed from active participation in the Plan as described in Section 2.3.

1.3Administrative Committee means the administrative committee of the Savings Plan, or such other committee as will be appointed by the Board, which will act on behalf of the Controlling Company to administer the Plan, as provided for in Article VIII.  

1.4Affiliate means any entity that is required to be aggregated with the Controlling Company under Code Sections 414(b) or (c).  

1.5Beneficiary means, with respect to a Participant, the person(s) designated or identified in accordance with Section 10.1 to receive any death benefits that may be payable under the Plan upon the death of the Participant.

1.6Board means the Board of Directors of the Controlling Company.

1.7Cash America SERP means the Cash America International, Inc. Supplemental Executive Retirement Plan.

1.8Change in Control means an event that is a change in the ownership of the Controlling Company, a change in the effective control of the Controlling Company or a change in the ownership of a substantial portion of the assets of the Controlling Company, all as defined in Code Section 409A and guidance issued thereunder. As a general overview, a Change in Control will occur on the date that any of the following events occurs:

(i)Any one person, or more than one person acting as a group (as defined in Code Section 409A), acquires ownership of Controlling Company stock that, together with all other Controlling Company stock held by such person or group, constitutes more than 50 percent of the total fair market value or total voting power of the stock of the Controlling Company.  However, if any one person, or more than one person acting as a group, is considered to own more than 50 percent of the total fair market value or total voting power of the stock of the Controlling

Company, the acquisition of additional stock by the same person or persons is not considered to cause a change in the ownership of the Controlling Company or to cause a change in the effective control of the Controlling Company.

(ii)The date any one person, or more than one person acting as a group, acquires (or has acquired, during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of the Controlling Company possessing 30 percent or more of the total voting power of the stock of the Controlling Company.

(iii)The date that any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from the Controlling Company that have a total gross fair market value equal to or more than 40 percent of the total gross fair market value of all of the assets of the Controlling Company immediately before such acquisition or acquisitions.

(iv)The date a majority of the Controlling Company’s board of directors is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Controlling Company’s board of directors before the date of the appointment or election.

Notwithstanding the foregoing provisions, neither a change in ownership under clause (i) nor a change in effective control under clause (ii) shall be considered to have occurred as a result of any acquisition or disposition of the Controlling Company’s stock by, or an increase in the percentage of the Controlling Company’s stock owned by, Cash America International, Inc. or any entity required to be aggregated with Cash America International, Inc. under Code Sections 414(b) or 414(c).  For clarification purposes and without limiting the foregoing, the acquisition of the Controlling Company’s stock in a public offering shall not result in a Change-in-Control unless required by Code Section 409A.

1.9Code means the Internal Revenue Code of 1986, as amended, and any succeeding federal tax provisions.

1.10Company means the Controlling Company and any of its U.S.-based subsidiaries except any such subsidiaries that affirmatively elect not to participate in the Plan or that the Controlling Company affirmatively designates as not eligible to participate in the Plan.  

1.11Compensation means, for a Participant for any Plan Year, the total of (i) such Participant’s base salary earned for such Plan Year, plus (ii) the lesser of the amount of his targeted or actual annual cash bonus that was paid during such Plan Year and earned in the preceding Plan Year, under a plan adopted by the Company, which bonus is determined and payable on an annual basis; provided, the amount in (ii) will be deemed earned during the Plan Year in which paid and prorated over each payroll period in such Plan Year.  

1.12Compensation Committee means the Management Development and Compensation Committee of the Board.

1.13Controlling Company means Enova International, Inc., a Delaware corporation with its principal place of business in Chicago, Illinois.

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1.14Discretionary-Eligible Employee means, for a Plan Year, an employee who is a member of a select group of key management or highly compensated employees who is selected by the Controlling Company as eligible to receive Discretionary Contributions under the Plan.  

1.15Discretionary Contributions means the amount (if any) credited to a Participant’s Account pursuant to Section 3.3.

1.16Effective Date means January 1, 2012.  

1.17Eligible Employee means an individual who is a Discretionary-Eligible Employee or a Supplemental-Eligible Employee.

1.18ERISA means the Employee Retirement Income Security Act of 1974, as amended.  

1.19FICA Tax means the Federal Insurance Contributions Act tax imposed under Code Sections 3101, 3121(a) and 3121(v)(2).

1.20Financial Hardship means a severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or the Participant’s dependent (as defined in Code Section 152(a)), loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant.  Financial Hardship will be determined by the Administrative Committee on the basis of the facts of each case, including information supplied by the Participant in accordance with uniform guidelines prescribed from time to time by the Administrative Committee; provided, the Participant will be deemed not to have a Financial Hardship to the extent that such hardship is or may be relieved:

(a)Through reimbursement or compensation by insurance or otherwise;

(b)By liquidation of the Participant’s assets, to the extent the liquidation of assets would not itself cause severe financial hardship; or

(c)By cessation of deferrals under a Company plan.

Examples of what are not considered to be unforeseeable emergencies include the need to send a Participant’s child to college or the desire to purchase a home.

1.21Investment Election means a written, electronic or other form of election pursuant to which a Participant may elect the Investment Funds in which the amounts credited to his Account will be deemed to be invested.

1.22Investment Funds means the investment funds selected from time to time by the Administrative Committee for purposes of determining the rate of return on amounts deemed invested pursuant to the terms of the Plan.

1.23Key Employee means a Participant who is a “specified employee” as defined in Code Section 409A as of: (i) for a Participant who Separates from Service on or after the first day of a calendar year and before the first day of the fourth month of such calendar year, the December 31 of the second calendar year preceding the calendar year in which such Participant Separates from Service; or (ii) for any other Participant, the preceding December 31.  For purposes of

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identifying Key Employees, the Participant’s compensation will mean all of the items listed in Treasury Regulations Section 1.415(c)-2(b), and excluding all of the items listed in Treasury Regulations Section 1.415(c)-2(c).

1.24Payment Date means the date on which all or a portion of the Participant’s benefit is scheduled to be paid (in the case of a lump sum payment) or commenced (in the case of installment payments) pursuant to the terms of the Plan.

1.25Participant means any person who has been admitted to, and has not been removed from, participation in the Plan pursuant to the provisions of Article II.

1.26Plan means the Enova International, Inc. Supplemental Executive Retirement Plan, as contained herein and all amendments hereto.  For tax purposes and purposes of Title I of ERISA, the Plan is intended to be an unfunded, nonqualified deferred compensation plan covering certain designated employees who are within a select group of key management or highly compensated employees.

1.27Plan Year means the 12-consecutive-month period ending on December 31 of each year.

1.28Savings Plan means the defined contribution retirement plan intended to be qualified under Code Sections 401(a) and 401(k) that is maintained by the Controlling Company.

1.29Separate from Service or Separation from Service means that a Participant separates from service with the Affiliates as defined in Code Section 409A and guidance issued thereunder.  Generally, a Participant separates from service if the Participant dies, retires, or otherwise has a termination of employment with the Affiliate that employs the Participant and all entities that would be treated as a single employer with such Affiliate under Code Sections 414(b) or (c), but substituting “at least 50 percent” instead of “at least 80 percent” each place it appears in applying such rules, determined in accordance with the following:  

(a)Leaves of Absence.  The employment relationship is treated as continuing intact while the Participant is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed 6 months, or, if longer, so long as the Participant retains a right to reemployment with the Affiliates under an applicable statute or by contract.  A leave of absence constitutes a bona fide leave of absence only while there is a reasonable expectation that the Participant will return to perform services for the Affiliates.  If the period of leave exceeds 6 months and the Participant does not retain a right to reemployment under an applicable statute or by contract, the employment relationship is deemed to terminate on the first date immediately following such 6-month period.  Notwithstanding the foregoing, where a leave of absence is due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 6 months, where such impairment causes the Participant to be unable to perform the duties of his position of employment or any substantially similar position of employment, a 29-month period of absence will be substituted for such 6-month period.

(b)Status Change.  Generally, if a Participant performs services both as an employee and an independent contractor, such Participant must separate from service both as an employee, and as an independent contractor pursuant to standards set forth in Treasury

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Regulations, to be treated as having a Separation from Service.  However, if a Participant provides services as an employee and as a member of the Board of Directors, the services provided as a director are not taken into account in determining whether the Participant has a Separation from Service as an employee for purposes of this Plan.

(c)Termination of Employment.  Whether a termination of employment has occurred for purposes of this section is determined based on whether the facts and circumstances indicate that the Affiliates and the Participant reasonably anticipate that (i) no further services will be performed after a certain date, or (ii) the level of bona fide services the Participant will perform after such date (whether as an employee or as an independent contractor) will permanently decrease to no more than 20 percent of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period (or the full period of services to the Affiliates if the Participant has been providing services to the Affiliates less than 36 months).  Facts and circumstances to be considered in making this determination include, but are not limited to, whether the Participant continues to be treated as an employee for other purposes (such as continuation of salary and participation in employee benefit programs), whether similarly situated service providers have been treated consistently, and whether the Participant is permitted, and realistically available, to perform services for other service recipients in the same line of business.  For periods during which a Participant is on a paid bona fide leave of absence and has not otherwise terminated employment as described in subsection (a) above, for purposes of this subsection the Participant is treated as providing bona fide services at a level equal to the level of services that the Participant would have been required to perform to receive the compensation paid with respect to such leave of absence.  Periods during which a Participant is on an unpaid bona fide leave of absence and has not otherwise terminated employment are disregarded for purposes of this subsection (including for purposes of determining the applicable 36-month (or shorter) period).

1.30Supplemental-Eligible Employee means an individual who at any time during the Plan Year is a member of a select group of key management or highly compensated employees of the Company; provided, such individual will be or become a Supplemental-Eligible Employee on the date such criterion is first satisfied during such Plan Year.  Notwithstanding the foregoing, “Supplemental Eligible Employee” does not include an individual for any portion of a Plan Year during which the individual is seconded to the Company and is not entitled to participate in Company retirement plans under the applicable secondment agreement.

1.31Supplemental Contributions means the amount credited to a Participant’s Account pursuant to Section 3.2.

1.32Surviving Spouse means, with respect to a Participant, the person who is treated as married to such Participant under the laws of the state in which the Participant resides.  The determination of a Participant’s Surviving Spouse will be made as of the date of such Participant’s death.

1.33Trust or Trust Agreement means the separate agreement or agreements between the Controlling Company and the Trustee governing the Trust Fund, and all amendments thereto.

1.34Trust Fund means the total amount of cash and other property held by the Trustee (or any nominee thereof) at any time under the Trust Agreement.

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1.35Trustee means the party or parties so designated from time to time pursuant to the terms of the Trust Agreement.

1.36Valuation Date means each day on which the Trustee operates, and is open to the public, for its business; provided, the value of an Account on a day other than a Valuation Date will be the value determined as of the immediately preceding Valuation Date.

1.37Years of Service means, with respect to a Participant, his total number of years of vesting service as determined under the terms of the Savings Plan.

Article II
ELIGIBILITY AND PARTICIPATION

2.1Initial Eligibility Requirements.

(a)Supplemental Contributions. Each individual who becomes a Supplemental-Eligible Employee on or after the Effective Date will become eligible to receive Supplemental Contributions as of the date that such individual becomes a Supplemental-Eligible Employee.

(b)Discretionary Contributions. Each individual who becomes a Discretionary-Eligible Employee on or after the Effective Date will become eligible to receive Discretionary Contributions as of the date that such individual becomes a Discretionary-Eligible Employee.

2.2Procedure for Admission.

The Administrative Committee may require an Eligible Employee to complete such forms and provide such data as the Administrative Committee determines in its sole discretion.  Such forms and data may include, without limitation, the Eligible Employee’s acceptance of the terms and conditions of the Plan and the designation of a Beneficiary to receive any death benefits payable hereunder.  

2.3Cessation of Eligibility.  

Unless otherwise designated by the Controlling Company, in its sole discretion, each Participant who ceases to be an active Discretionary-Eligible Employee or Supplemental-Eligible Employee will cease to be eligible to receive any Discretionary and/or Supplemental Contributions, respectively, under the Plan for any period following such date.  The Controlling Company may, in its sole discretion, remove an employee from active participation in the Plan as of the first day of the following Plan Year (or any other date specified by the Controlling Company), if, as of any day during a Plan Year, he ceases to satisfy the criteria which qualified him as an Eligible Employee.  Even if his active participation in the Plan ends, an employee will remain an inactive Participant in the Plan until the earlier of (i) the date the full amount of his vested Account (if any) is distributed from the Plan, or (ii) the date he again becomes an Eligible Employee and recommences active participation in the Plan.  During the period of time that an employee is an inactive Participant in the Plan, his vested Account will continue to be credited with earnings as provided for in Section 3.5.

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Article III
PARTICIPANTS’ ACCOUNTS AND CREDITING OF CONTRIBUTIONS

3.1Participants’ Accounts.

(a)Establishment of Accounts.  The Administrative Committee will establish and maintain an Account on behalf of each Participant.  To the extent provided herein, each Account will be credited with Supplemental and Discretionary Contributions and earnings attributable to such Account, and will be debited by the amount of all distributions.  A Participant’s Account may also include amounts transferred from the Cash America SERP.  Each Account of a Participant will be maintained until the vested value thereof has been distributed to or on behalf of such Participant or his Beneficiary.

(b)Nature of Contributions and Accounts.  The amounts credited to a Participant’s Account will be represented solely by bookkeeping entries.  Except as provided in Article VII, no monies or other assets will actually be set aside for such Participant.  All payments to a Participant or Beneficiary under the Plan will be made from the general assets of the Company.

(c)Several Liabilities.  The Administrative Committee or the Controlling Company will allocate the total liability to pay benefits under the Plan among the Company in such manner and amount as the Administrative Committee or the Controlling Company (as applicable) in its sole discretion deems appropriate.

(d)General Creditors.  Any assets which may be acquired by the Company in anticipation of its obligations under the Plan will be part of the general assets of the Company.  The Company’s obligation to pay benefits under the Plan constitutes a mere promise of the Company to pay such benefits, and a Participant or Beneficiary will be and remain no more than an unsecured, general creditor of the Company.

3.2Supplemental Contributions.  

(a)Crediting of Supplemental Contributions.  As soon as administratively feasible following the last day of each Plan Year (or such other date as determined by the Controlling Company, in its sole discretion), the Controlling Company may direct the Administrative Committee to credit a Supplemental Contribution to the Account of each Participant who was a Supplemental-Eligible Employee for any period during such Plan Year and is employed by the Company on the last day of such Plan Year (or such other period as determined by the Controlling Company).  

(b) Amount of Supplemental Contributions.  The Controlling Company will determine the amount, if any, of the Supplemental Contribution to be made for each Plan Year for each Supplemental-Eligible Employee, and may determine different amounts for specified Supplemental-Eligible Employees or groups of Supplemental-Eligible Employees.  However, the targeted (but non-binding) amount of Supplemental Contribution for each Plan Year will be determined as a percentage of each Supplemental-Eligible Employee’s Compensation earned during such Plan Year (or the portion thereof while such Participant was a Supplemental-Eligible Employee), with such targeted percentage determined by the Compensation Committee from time to time.  If a Supplemental-Eligible Employee was a member of one group of Supplemental-

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Eligible Employees for part of the Plan Year and a member of one or more other groups of Supplemental-Eligible Employees for another part of the Plan Year, the applicable percentage for each group will be applied to the portion of his Compensation earned during the portion of the Plan Year he held each such position, with the portion of his Compensation attributable to an annual bonus prorated based on the number of regular payroll periods for which the Participant earned compensation for each eligible position during the year.  If a Participant is not a Supplemental-Eligible Employee during the entire Plan Year but remains employed by the Company on the last day of the Plan Year, the applicable percentage for that person will be applied to the portion of his Compensation earned during the portion of the Plan Year during which he was a Supplemental-Eligible Employee.  For purposes of this subsection, a Supplemental-Eligible Employee is deemed to earn compensation for a particular payroll period on the regular pay date applicable to that payroll period.  

3.3Discretionary Contributions.  

At such time or times, in such amount and under such terms, as the Controlling Company, in its sole discretion, may (but is not required to) determine and direct, the Administrative Committee will credit to the Account of any Discretionary-Eligible Employee a Discretionary Contribution.  To the extent any special characteristics are to apply to any Discretionary Contributions, these will be specified on an exhibit to the Plan and/or in the records of the Administrative Committee.

3.4Debiting of Distributions.  

As of each Valuation Date, the Administrative Committee will debit each Participant’s Account for any amount distributed from such Account since the immediately preceding Valuation Date.

3.5Crediting of Earnings.  

As of each Valuation Date, the Administrative Committee will credit to each Participant’s Account the amount of earnings and/or losses applicable thereto for the period since the immediately preceding Valuation Date.  Such crediting of earnings and/or losses will be effected as of each Valuation Date, based on the investments applicable to the Participant’s Account pursuant to the terms of Section 4.2.

3.6Value of Account.  

The value of a Participant’s Account as of any date will be equal to the aggregate value of all contributions and all investment earnings deemed credited to his Account as of such date, determined in accordance with this Article III.

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3.7Vesting.

(a) Time of Vesting.  A Participant will become vested in his Account and the earnings credited with respect thereto in accordance with the following schedule:

Years of Service	Vested Percentage
Less than 1 Year of Service	0%
1 Year, but less than 2	20%
2 Years, but less than 3	40%
3 Years, but less than 4	60%
4 Years, but less than 5	80%
5 or more Years of Service	100%

(b)Change in Control.  If a Change in Control occurs, the Participant will be immediately 100 percent vested in his Account and the earnings credited with respect thereto as of the date of such Change in Control.  Any Supplemental or Discretionary Contributions credited to the Participant’s Account and any earnings credited with respect thereto after the date of a Change in Control will continue to vest in accordance with the vesting schedule set forth in subsection (a) hereof.

(c)Job Abolishment.  If a Participant’s employment is terminated as a result of a job abolishment, the Participant will be immediately 100 percent vested in his Account and the earnings credited with respect thereto.

(d)Forfeiture.  For all periods prior to the date a Participant becomes fully vested in his Account, the nonvested portion of such Account will remain forfeitable.  Upon a Participant’s termination of employment with all Affiliates, the unvested portion of his Account will be immediately forfeited.  

3.8Notice to Participants of Account Balances.  

At least once for each Plan Year, the Administrative Committee will cause a written statement of a Participant’s Account balance to be distributed to the Participant.

3.9Good Faith Valuation Binding.  

In determining the value of the Accounts, the Administrative Committee will exercise its best judgment, and all such determinations of value (in the absence of bad faith) will be binding upon all Participants and their Beneficiaries.

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3.10Errors and Omissions in Accounts.

If an error or omission is discovered in the Account of a Participant, the Administrative Committee, in its sole discretion, will cause appropriate, equitable adjustments to be made as soon as administratively practicable following the discovery of such error or omission.

Article IV
INVESTMENT FUNDS

4.1Selection by Administrative Committee.  

From time to time, the Administrative Committee will select two or more Investment Funds for purposes of determining the rate of return on amounts deemed invested in accordance with the terms of the Plan; provided, an Investment Fund that is deemed invested primarily in equity securities of the Controlling Company will not be a permitted investment.  The Administrative Committee may change, add or remove Investment Funds on a prospective basis at any time and in any manner it deems appropriate.

4.2Participant Direction of Deemed Investments.  

Each Participant generally may direct the manner in which his Account will be deemed invested in and among the Investment Funds.  Any Participant investment directions permitted hereunder will be made in accordance with the following terms:

(a)Nature of Participant Direction.  The selection of Investment Funds by a Participant will be for the sole purpose of determining the rate of return to be credited to his Account, and will not be treated or interpreted in any manner whatsoever as a requirement or direction to actually invest assets in any Investment Fund or any other investment media.  The Plan, as an unfunded, nonqualified deferred compensation plan, at no time will have any actual investment of assets relative to the benefits or Accounts hereunder.

(b)Investment of Contributions.  Each Participant may make an Investment Election prescribing the percentage of the future contributions that will be deemed invested in each Investment Fund.  An initial Investment Election of a Participant will be made as of the date the Participant commences participation in the Plan and will apply to all contributions credited to such Participant’s Account after such date.  Such Participant may make subsequent Investment Elections as of any Valuation Date, and each such election will apply to all such specified contributions credited to such Participant’s Account after the Administrative Committee (or its designee) has a reasonable opportunity to process such election pursuant to such procedures as the Administrative Committee may determine from time-to-time.  Any Investment Election made pursuant to this subsection with respect to future contributions will remain effective until changed by the Participant.

(c)Investment of Existing Account Balances. Each Participant may make an Investment Election prescribing the percentage of his existing Account balance that will be deemed invested in each Investment Fund.  Such Participant may make such Investment Elections as of any Valuation Date, and each such election will be effective after the Administrative Committee

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(or its designee) has a reasonable opportunity to process such election.  Each such election will remain in effect until changed by such Participant.

(d)Administrative Committee Discretion. The Administrative Committee will have complete discretion to adopt and revise procedures to be followed in making such Investment Elections.  Such procedures may include, but are not limited to, the process of making elections, the permitted frequency of making elections, the incremental size of elections, the deadline for making elections, the effective date of such elections and whether, and the extent to which, to charge any Participant’s Account an administrative fee for making such Investment Elections; provided, no other benefit or payment to a Participant will be increased or decreased in connection with the imposition of, or failure to impose, any fees against the Participant’s Account.  Any procedures adopted by the Administrative Committee that are inconsistent with the deadlines or procedures specified in this Section will supersede such provisions of this Section without the necessity of a Plan amendment.  Unless otherwise determined by the Administrative Committee, any investment elections in effect with respect to a Participant’s contributions and accounts under the Cash America SERP will be deemed to be such Participant’s initial investment elections under the Plan.

Article V
PAYMENT OF ACCOUNT BALANCES

5.1Amount of Benefit Payments.  

Payment of a benefit amount as of any Payment Date hereunder will be calculated by determining the total of (i) the entire vested amount credited to the Participant’s Account that is payable on such Payment Date, determined as of the Valuation Date on which the distribution is processed; plus (ii) the vested amount of Supplemental and Discretionary Contributions made since such Valuation Date.  For purposes of this subsection, the “Valuation Date on which such distribution is processed” refers to the Valuation Date established for such purpose by administrative practice, even if actual payment is made or commenced at a later date due to delays in valuation, administration or any other procedure.

5.2Timing and Form of Distribution.  

(a)General Payment Date.  Except as provided in Section 5.3 and subsection (c) hereof, the Payment Date for a Participant’s Account will be:  (i) the 30th day after the date the Participant Separates from Service, in the case of a Participant who is not a Key Employee on the date he Separates from Service; or (ii) 6 months after the date the Participant Separates from Service, in the case of a Participant who is a Key Employee on the date he Separates from Service.  

(b)General Payment Form.  Except as provided in subsection (c) hereof, the vested portion of a Participant’s Account will be distributed in the form of a single-sum payment.  

(c)Modification of Defaults.  To the extent permitted by the Administrative Committee, a Participant who has not yet Separated from Service may make one election to delay the payment (or commencement) of his Account payable under subsection (a) and/or to change the form of payment to have his Account paid in the form of annual installment payments, to change the number of installment payments elected, or to elect a lump sum.  In the event of an election

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under this subsection, the Payment Date for such Participant’s Account will be delayed to the 5-year anniversary of the Payment Date that would have applied under subsection (a) above.  Any election under this subsection will not be effective unless made at least 12 months before the Payment Date applicable under subsection (a) above.  The following terms and conditions will apply to installment payment elections made under this Section, if any:

(1)The installment payments will be made in substantially equal annual installments (adjusted for investment earnings between payments in the manner described in Section 3.5) over any period not in excess of 10 years.  Any election under this subsection will specify the number of installment payments elected.

(2)The initial value of the obligation for the installment payments will be equal to the amount of the Participant’s Account balance calculated in accordance with the terms of Section 5.1.

5.3Cashout of Accounts.

(a)Generally.  To the extent permitted under Code Section 409A, if at any time a Participant’s Account balance (including, for purposes of this section, non-elective deferral accounts under certain other nonqualified deferred compensation plans required to be aggregated with the Plan under Code Section 409A) does not exceed the applicable dollar amount under Code Section 402(g)(1)(B), the Administrative Committee may elect, in its sole discretion, to pay such Participant’s Account balance in an immediate single-sum payment.

(b)Documentation of Determination.  Any exercise of the Administrative Committee’s discretion pursuant to this subsection will be evidenced in writing no later than the date of the distribution.

(c)Six Month Delay for Key Employees.  Notwithstanding the foregoing, to the extent required under Code Section 409A, no payment under this Section will be made within 6 months after the date the Participant Separates from Service, in the case of a payment to a Participant who is a Key Employee on the date he Separates from Service.

5.4Medium of Payment.  

All distributions will be made in the form of cash.

5.5Death Benefits.  

If a Participant dies before full payment of his Account from the Plan is made, the Beneficiary or Beneficiaries designated by such Participant in his latest beneficiary designation form filed with the Administrative Committee will be entitled to receive a distribution of vested amount credited to such Participant’s Account.  The benefit will be distributed to such Beneficiary or Beneficiaries 30 days after the date of the Participant’s death, in the form of a single-sum payment in cash.

5.6Hardship Withdrawals.  

Upon receipt of (i) an application for a hardship withdrawal from a Participant who has not yet received a distribution of his entire Account and (ii) the Administrative Committee’s

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decision, made in its sole discretion, that a Participant has suffered a Financial Hardship, the Administrative Committee will cause the Company to pay a distribution to such Participant.  Such distribution will be paid in a single sum payment in cash, within 90 days after the date the Administrative Committee determines that a Financial Hardship exists, which must be prior to the Participant’s Separation from Service.  The amount of such single sum payment will be limited to the vested amount of the Participant’s Account that is reasonably necessary to meet the Participant’s requirements resulting from the Financial Hardship.  The amount of such distribution will reduce the Participant’s Account balance as provided in Section 3.4.

5.7Taxes.  

(a)Amounts Payable Whether or Not Account is in Pay Status.  If the whole or any part of any Participant’s or Beneficiary’s Account hereunder will become subject to FICA Tax or any state, local or foreign tax obligations, which the Company will be required to pay or withhold prior to the time the Participant’s Account becomes payable hereunder, the Company will have the full power and authority to withhold and pay such tax and related taxes as permitted under Code Section 409A.

(b)Amounts Payable Only if Account is in Pay Status.  If the whole or any part of any Participant’s or Beneficiary’s Account hereunder is subject to any taxes which the Company will be required to pay or withhold at the time the Account becomes payable hereunder, the Company will have the full power and authority to withhold and pay such tax out of any monies or other property that the Company holds for the account of the Participant or Beneficiary, excluding, except as provided in this Section, any portion of the Participant’s Account that is not then payable.

5.8Offset Account by Amounts Owed to the Company.  

Notwithstanding anything in the Plan to the contrary, the Administrative Committee may, in its sole discretion, offset a Participant’s Account by any amount owed by such Participant or Beneficiary (whether or not such obligation is related to the Plan) to the Company.  Notwithstanding the foregoing, no such offset will apply if such offset will apply before the Account is otherwise payable under the Plan, unless the following requirements are met: (i) the debt owed was incurred in the ordinary course of the relationship between the Participant and the Company, (ii) the entire amount of offset to which this sentence applies in a single taxable year does not exceed $5,000, (iii) the offset occurs at the same time and in the same amount as the debt otherwise would have been due and collected from the Participant or Beneficiary, and (iv) in the case of a Participant who is a Key Employee on the date he Separates from Service, the offset does not occur within six months after the date the Participant Separates from Service.

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5.9No Acceleration of Account Payments.  

Except as otherwise provided in this Section, no payment scheduled to be made under this Article V may be accelerated.  Notwithstanding the foregoing, the Administrative Committee, in its sole discretion, may accelerate any payment scheduled to be made under this Article V in accordance with Code Section 409A (for example, upon certain terminations of the Plan, limited cashouts or to avoid certain conflicts of interest); provided, a Participant may not elect whether his scheduled payment will be accelerated pursuant to this sentence.

5.10Amounts Transferred from the Cash America SERP

Any amounts transferred from the Cash America SERP will be administered in accordance with the terms of the Cash America SERP, including any prior payment elections made by a Participant, to the extent required to avoid income inclusion under Code Section 409A(a)(1).  For the avoidance of doubt, the determination of whether amounts transferred from the Cash America SERP become vested as a result of a Change in Control after the Effective Date will be determined under sections 1.8 and 3.7(b) of the Plan.

Article VI
CLAIMS

6.1Initial Claim.  

(a)Rights.  If a Participant or Beneficiary has any grievance, complaint or claim concerning any aspect of the operation or administration of the Plan, including but not limited to claims for benefits (collectively referred to herein as “claim” or “claims”), such claimant will submit the claim in accordance with the procedures set forth in this Article.  All such claims must be submitted within the “applicable limitations period.”  The “applicable limitations period” will be 2 years, beginning on (i) in the case of any lump-sum payment, the date on which the payment was made, (ii) in the case of a periodic payment, the date of the first in the series of payments, or (iii) for all other claims, the date on which the action complained of occurred.  Additionally, upon denial of an appeal pursuant to Section 6.2, a Participant or Beneficiary will have 90 days within which to bring suit for any claim related to such denied appeal; any such suit initiated after such 90-day period will be precluded.  

(b)Procedure.  Claims for benefits under the Plan may be filed with the Administrative Committee on forms or in such other written documents as the Administrative Committee may prescribe.  The Administrative Committee will furnish to the claimant written notice of the disposition of a claim within 90 days after the application therefor is filed; provided, if special circumstances require an extension of time for processing the claim, the Administrative Committee will furnish written notice of the extension to the claimant prior to the end of the initial 90-day period, and such extension will not exceed one additional, consecutive 90-day period.  In the event the claim is denied, the notice of the disposition of the claim will provide the specific reasons for the denial, citations of the pertinent provisions of the Plan, an explanation as to how the claimant can perfect the claim and/or submit the claim for review (where appropriate), and a statement of the claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse determination on review.

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6.2Appeal.  

Any Participant or Beneficiary who has been denied a benefit will be entitled, upon request to the Controlling Company, to appeal the denial of his claim. The claimant (or his duly authorized representative) may review pertinent documents related to the Plan and in the Controlling Company’s possession in order to prepare the appeal.  The request for review, together with a written statement of the claimant’s position, must be filed with the Controlling Company no later than 60 days after receipt of the written notification of denial of a claim provided for in subsection (b).  The Controlling Company’s decision will be made within 60 days following the filing of the request for review and will be communicated in writing to the claimant; provided, if special circumstances require an extension of time for processing the appeal, the Controlling Company will furnish written notice of the extension to the claimant prior to the end of the initial 60-day period, and such extension will not exceed one additional 60-day period.  If unfavorable, the notice of the decision will explain the reasons for denial, indicate the provisions of the Plan or other documents used to arrive at the decision and state the claimant’s right to bring a civil action under ERISA Section 502(a).  Upon denial of an appeal pursuant to this subsection, a Participant will have 90 days within which to bring suit against the Plan for any claim related to such denied appeal; any such suit initiated after such 90-day period will be precluded.

6.3Satisfaction of Claims.  

Any payment to a Participant or Beneficiary will to the extent thereof be in full satisfaction of all claims hereunder against the Administrative Committee and the Company, any of whom may require such Participant or Beneficiary, as a condition to such payment, to execute a receipt and release therefor in such form as will be determined by the Administrative Committee or the Company.  If receipt and release is required but the Participant or Beneficiary (as applicable) does not provide such receipt and release in a timely enough manner to permit a timely distribution in accordance with the general timing of distribution provisions in the Plan, such payment will be forfeited.  

Article VII
SOURCE OF FUNDS; TRUST

7.1Source of Funds.  

Except as provided in this Section and Section 7.2, the Company will provide the benefits described in the Plan from the general assets of the Company.  In any event, the Company ultimately will have the obligation to pay all benefits due to Participants and Beneficiaries under the Plan.  The Company may, but will not be required to, establish a Trust and may pay over funds from time to time to such Trust (as described in Section 7.2), and, to the extent that funds in such Trust allocable to the benefits payable under the Plan are sufficient, the Trust assets will be used to pay benefits under the Plan.  If such Trust assets are not sufficient to pay all benefits due under the Plan, then the Company will have the obligation, and the Participant or Beneficiary, who is due such benefits, will look to the Company to provide such benefits.  

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7.2Trust.

The Company may transfer all or any portion of the funds necessary to fund benefits accrued hereunder to the Trustee to be held and administered by the Trustee pursuant to the terms of the Trust Agreement.  To the extent provided in the Trust Agreement, each transfer into the Trust Fund will be irrevocable as long as the Company has any liability or obligations under the Plan to pay benefits, such that the Trust property is in no way subject to use by the Company; provided, it is the intent of the Company that the assets held by the Trust are and will remain at all times subject to the claims of the general creditors of the Company.  No Participant or Beneficiary will have any interest in the assets held by the Trust or in the general assets of the Company other than as a general, unsecured creditor.  Accordingly, the Company will not grant a security interest in the assets held by the Trust in favor of the Participants, Beneficiaries or any creditor.

7.3Funding Prohibition under Certain Circumstances.  

Notwithstanding anything in this Article VII to the contrary, no assets will be set aside to fund benefits under the Plan if such setting aside would be treated as a transfer of property under Code Section 83 pursuant to Code Section 409A(b).  

Article VIII
RIGHTS AND DUTIES UNDER THE PLAN

8.1Controlling Company Action.  

The Controlling Company, as plan sponsor of the Plan, will have all the rights, authority and duties specified hereunder.  Unless and until the Board of Directors of the Controlling Company appoints any other or additional person(s) to act on behalf of the Controlling Company with regard to any or all of the items specifically reserved for, or to be directed by, the Controlling Company under the Plan, the Chief Executive Officer of the Controlling Company with the approval of the Compensation Committee is hereby authorized and directed to act on behalf of the Controlling Company or the Company.  Notwithstanding the foregoing, if any decision or action could impact or affect solely the benefits or rights under the Plan (if any) of the Chief Executive Officer of the Controlling Company, then the Chief Executive Officer of the Controlling Company will not participate in such decision and the Compensation Committee alone will make such decision; provided, if a member of the Compensation Committee is a Participant or Beneficiary, he will not participate in any decision which solely affects his own benefit under the Plan.  

8.2Administrative Committee Organization and Action.  

Action of the Administrative Committee may be taken with or without a meeting of committee members; provided, action will be taken only upon the vote or other affirmative expression of a majority of the committee members qualified to vote with respect to such action.  If a member of the committee is a Participant or Beneficiary, he will not participate in any decision which solely affects his own benefit under the Plan.  For purposes of administering the Plan, the Administrative Committee will choose a secretary who will keep minutes of the committee’s proceedings and all records and documents pertaining to the administration of the Plan.  The secretary may execute any certificate or any other written direction on behalf of the Administrative Committee.

16

8.3Rights and Duties.

The Administrative Committee will administer the Plan and will have all the powers necessary to accomplish that purpose, including (but not limited to) the following:

(a)To construe, interpret and administer the Plan;

(b)To make determinations required by the Plan, and to maintain records regarding Participants’ and Beneficiaries’ benefits hereunder;

(c)To compute and certify to the Company the amount and kinds of benefits payable to Participants and Beneficiaries, and to determine the time and manner in which such benefits are to be paid;

(d)To authorize all disbursements by the Company pursuant to the Plan;

(e)To maintain all the necessary records of the administration of the Plan;

(f)To make and publish such rules for the regulation of the Plan as are not inconsistent with the terms hereof;

(g)To have all powers elsewhere conferred upon it;

(h)To delegate to other individuals or entities from time to time the performance of any of its duties or responsibilities hereunder;

(i)To appoint a Trustee hereunder; and

(j)To hire agents, accountants, actuaries, consultants and legal counsel to assist in operating and administering the Plan.  

The Administrative Committee will have the exclusive right to construe and interpret the Plan, to decide all questions of eligibility for benefits and to determine the amount of such benefits, each in its sole discretion, and its decisions on such matters will be final and conclusive on all parties.

8.4Compensation, Indemnity and Liability.  

The Administrative Committee and its members will serve as such without bond and without compensation for services hereunder.  All expenses of the Administrative Committee will be paid by the Company.  No member of the Administrative Committee will be liable for any act or omission of any other member of the Administrative Committee, or for any act or omission on his own part, excepting his own willful misconduct.  The Company will indemnify and hold harmless the Administrative Committee and each member thereof against any and all expenses and liabilities, including reasonable legal fees and expenses, arising out of his membership on the Administrative Committee, excepting only expenses and liabilities arising out of his own willful misconduct.

17

Article IXAMENDMENT AND TERMINATION

9.1Amendments.  

The Compensation Committee will have the right, in its sole discretion, to amend the Plan in whole or in part at any time and from time to time.  Any amendment will be in writing and executed by a duly authorized officer of the Controlling Company.  An amendment to the Plan may modify its terms in any respect whatsoever; provided, no such action may reduce the amount already credited to a Participant’s Account without the affected Participant’s written consent.  All Participants and Beneficiaries will be bound by such amendment.

9.2Freezing or Termination of Plan.

(a)Freezing.  The Controlling Company, through action of the Compensation Committee, reserves the right to discontinue and freeze the Plan at any time, for any reason.  Any action to freeze the Plan will be taken by the Compensation Committee in the form of a written Plan amendment executed by a duly authorized officer of the Controlling Company.  

(b) Termination.  The Controlling Company expects to continue the Plan but reserves the right to terminate the Plan and fully distribute all Accounts under the Plan at any time, for any reason; provided, the distribution of Accounts will be subject to the restrictions provided under Code Section 409A (including, to the extent required by Code Section 409A, the 6-month delay that applies to distributions to Key Employees following Separation from Service).  Any action to terminate the Plan will be taken by the Compensation Committee in the form of a written Plan amendment executed by a duly authorized officer of the Controlling Company.  If the Plan is terminated, each Participant will become 100 percent vested in his Account.  Such termination will be binding on all Participants and Beneficiaries.

Article X
MISCELLANEOUS

10.1Beneficiary Designation.  

(a)General.  Participants will designate and from time to time may redesignate their Beneficiaries in such form and manner as the Administrative Committee may determine.  For a Participant who becomes a Participant on the Effective Date and previously participated in the Cash America SERP, the beneficiary designated under the Cash America SERP will be deemed to be the Participant’s Beneficiary as of the Effective Date unless a new Beneficiary designation is required by the Administrative Committee.

(b)No Designation or Designee Dead or Missing.  In the event that:

(1)A Participant dies without designating a Beneficiary;

(2)The Beneficiary designated by a Participant is not surviving when a payment is to be made to such person under the Plan, and no contingent Beneficiary has been designated; or

18

(3)The Beneficiary designated by a Participant cannot be located by the Administrative Committee within a reasonable time following the Participant’s death, as determined by the Administrative Committee;

then, in any of such events, the Beneficiary of such Participant will be the Participant’s Surviving Spouse, if any, and if not, then the estate of the Participant; provided, if the Participant does not have a Surviving Spouse (or the Surviving Spouse cannot be located), and no claim has been made on behalf of the Participant’s estate within a reasonable period of time after the Participant’s death, then the Beneficiary will be such heirs and/or relatives of the Participant as the Administrative Committee may determine in its sole discretion, and payment to such Beneficiary will be deemed in full satisfaction of the Participant’s benefits under the Plan, without further liability with respect to such Participant’s benefits on the part of the Plan, the Controlling Company, any Affiliate, or the Administrative Committee.

10.2Distribution pursuant to a Domestic Relations Order.

Upon receipt of a valid domestic relations order (determined in accordance with the rules applicable to a tax-qualified retirement plan under Code Section 401(a)) requiring the distribution of all or a portion of a Participant’s Account to an alternate payee, the Administrative Committee will cause the Company to pay a distribution to such alternate payee.  All distributions to alternate payees under the Plan will be in the form of a single lump sum payment.

10.3Taxation.  

It is the intention of the Controlling Company that the benefits payable hereunder will not be deductible by the Company or taxable for federal income tax purposes to Participants or Beneficiaries until such benefits are paid by the Company, or the Trust, as the case may be, to such Participants or Beneficiaries.  For purposes of the Federal Insurance Contributions Act (“FICA”), each Participant will be taxed on contributions and investment earnings attributable thereto based on the year in which occurs the later of (i) the date that the contributions are credited to the Participant’s Accounts; and (ii) the date that the contributions become vested.  When benefits are paid hereunder, it is the intention of the Controlling Company that they will be deductible by the Company under Code Section 162.  The Plan is intended to satisfy the requirements of Code Section 409A, and the Administrative Committee will use its reasonable best efforts to interpret and administer the Plan in accordance with such requirements.

10.4No Employment Contract.  

Nothing herein contained is intended to be nor will be construed as constituting a contract or other arrangement between the Company and any Participant to the effect that the Participant will be employed by the Company for any specific period of time.

10.5Headings.  

The headings of the various articles and sections in the Plan are solely for convenience and may not be relied upon in construing any provisions hereof.  Any reference to a section refers to a section of the Plan unless specified otherwise.

19

10.6Gender and Number.  

Use of any gender in the Plan will be deemed to include both genders when appropriate, and use of the singular number will be deemed to include the plural when appropriate, and vice versa in each instance.

10.7Assignment of Benefits.  

The right of a Participant or his Beneficiary to receive payments under the Plan will not be anticipated, alienated, sold, assigned, transferred, pledged, encumbered, attached or garnished by creditors of such Participant or Beneficiary, except by will or by the laws of descent and distribution and then only to the extent permitted under the terms of the Plan.

10.8Legally Incompetent.  

The Administrative Committee, in its sole discretion, may direct that payment to be made to an incompetent or disabled person, whether because of minority or mental or physical disability, be made instead to the guardian of such person or to the person having custody of such person, without further liability on the part of the Company for the amount of such payment to the person on whose account such payment is made.

10.9Governing Law.  

The Plan will be construed, administered and governed in all respects in accordance with applicable federal law (including ERISA) and, to the extent not preempted by federal law, in accordance with the laws of the State of Illinois.  If any provisions of this instrument are held by a court of competent jurisdiction to be invalid or unenforceable, the remaining provisions hereof will continue to be fully effective.

10.10Exclusive Benefit.  

The benefits payable hereunder will be the exclusive benefit payable to any Participant under the Plan.

IN WITNESS WHEREOF, the Controlling Company has caused the Plan to be executed by its duly authorized officer on the 13th day of September, 2017.

ENOVA INTERNATIONAL, INC.
By:	/s/ David Fisher
	David Fisher, Chief Executive Officer

THIS AMENDED AND RESTATED SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN IS AUTHORIZED, APPROVED AND ADOPTED BY THE BOARD OF DIRECTORS OF ENOVA INTERNATIONAL, INC.

September 13, 2017

20

EX-10.2

Exhibit 10.2

SECOND AMENDMENT TO LEASE

This Second Amendment to Lease (“Amendment”) is entered into as of September 13, 2017, by and between 175 Jackson L.L.C. (“Landlord”) and Enova International, Inc. (“Tenant”).    

RECITALS

A.On July 25, 2014, Landlord and Tenant entered into a lease for (i) approximately 59,824 rentable square feet on the 5th floor, and approximately 68,539 rentable square feet on the 10th floor (collectively, the “5th and 10th Floor Premises”), and (ii) approximately 31,877 rentable square feet on the 6th floor (the “6th Floor Premises”) of the building located at 175 W. Jackson Blvd., Chicago, Illinois, modified by (i) a First Amendment to Lease effective July 1, 2015.

B.The parties have agreed to expand the Premises by the inclusion of Suite 560, containing approximately 7,901 rentable square feet on the 5^th floor of the Building (“Suite 560 Premises”) in its “AS IS” condition, as depicted on Exhibit A attached hereto and incorporated herein by this reference.

C.In consideration of the agreements herein contained, the parties desire to amend the Lease, effective as of September 13, 2017, as follows:

AGREEMENT

1.Definitions.  The definitions for “Premises”, “Base Annual Rent”, “Rent Abatement”, “Tenant’s Proportion”, “Term”, “Commencement Date”, “Termination Date” and “Termination Option” in the Schedule of the Lease shall be modified in connection with the addition of the Suite 560 Premises as follows:

Premises:  

a. 5^th and 10^th Floor Premises.  Unmodified.

b. 6^th Floor Premises.  Unmodified.

c. Suite 560 Premises.  A portion of the 5^th Floor of the Building, totaling approximately 7,901 rentable square feet in its “AS IS” condition.

Base Annual Rent:  

a. 5th and 10th Floor Premises and 6th Floor Premises.  Unmodified.  

b. Suite 560 Premises.  Base Annual Rent for the Suite 560 Premises shall be $36.00 per rentable square foot, i.e. $284,436.00 annually, payable $23,703.06 monthly, based on 7,901 rentable square feet.  Beginning on September 1, 2018 and on the first day of each Suite 560 Lease Year, Base Annual Rent for the Suite 560 Premises shall increase by $0.50 over the

immediately preceding Suite 560 Lease Year.  A “Suite 560 Lease Year” shall commence on September 1^st and end on the following August 31^st.  Notwithstanding the foregoing, it is acknowledged that the Suite 560 Premises are subject to rent abatement as set forth herein.

Rent Abatement:  

a. 5^th and 10^th Floor Premises.  Unmodified.

b. 6^th Floor Premises.  Unmodified.

c. Suite 560 Premises.  Tenant shall not be obligated to pay Base Annual Rent or any applicable Adjustments during or for the first thirty six (36) months after the Suite 560 Commencement Date (as herein after defined).

Tenant’s Proportion:  

a. 5^th and 10^th Floor Premises.  Unmodified.

b. 6th Floor Premises.  Unmodified.

c. Suite 560 Premises.  0.59% for Operating Expenses applicable only to the office portion of the Building (1,349,197 rentable square feet), and 0.57% for Taxes and Operating Expenses applicable to the entire Building (1,394,357 rentable square feet).

Term:  

a. 5th and 10th Floor Premises and 6th Floor Premises.  Extended to expire on August 31, 2027.  

b. Suite 560 Premises.  Ten (10) years, expiring on August 31, 2027.

Commencement Date:  

a. 5th and 10th Floor Premises and 6th Floor Premises.  Unmodified.

b. Suite 560 Premises.  September 13, 2017 (“Suite 560 Commencement Date”).

Termination Date:  August 31, 2027, unless sooner terminated in accordance with the terms hereof.  

Termination Option:  Tenant shall have the option to terminate this Lease as of August 31, 2024, provided that on or before August 31, 2023, Tenant gives Landlord notice of such termination and pays Landlord fifty percent (50%) of a termination fee in the total amount of $6,681,248.00 ($6,267,605.00 for the original Premises plus $413,643.00 for the Suite 560 Premises), which is equal to the then unamortized direct, out-of-pocket deal costs, which include, but are not limited to, the following: tenant improvements, abatement and leasing

2

commissions (the “Deal Costs”) (determined utilizing a 7.5% interest rate compounded monthly in advance).  The balance of the termination fee shall be payable on or before the termination date.  Time is of the essence for the giving of such notice and payments.

2.Rent Adjustments.  Subsection 3(a)(ii) of the Lease is hereby deleted in its entirety and replaced with the following:

“(ii)“Base Year” shall mean (i) the calendar year 2015 for the 5^th and 10^th Floor Premises, (ii) the calendar year 2017 for the 6^th Floor Premises and the Suite 560 Premises.

3.Other Terms.  Except as modified by this Amendment, the Lease shall remain in full force and effect.

4.Contingency.  

a. Tenant hereby agrees and acknowledges that this Amendment and Landlord’s obligation to lease the Suite 560 Premises to Tenant are contingent upon Sedgwick Claims Management Services, Inc. (“Sedgwick) entering into an amendment to their Lease pursuant to which Sedgwick agrees to vacate prior to September 1, 2017 the Suite 560 Premises (the “Sedgwick Amendment”).  In the event Sedgwick fails to execute the Sedgwick Amendment, this Amendment shall be deemed null and void and of no further force or effect.  

3

IN WITNESSWHEREOF, the parties have executed this Amendment as of the date first above written.

LANDLORD:

175 JACKSON L.L.C.

By:/s/ Moshe Spitzer

Moshe Spitzer, Vice President

Date executed:

TENANT:

ENOVA INTERNATIONAL, inc.

By:/s/ David Fisher

Printed name:David Fisher

Title:Authorized Representative

Date executed:

4

EXHIBIT A

SUITE 560 PREMISES

D-1

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, David A. Fisher, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Enova International, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 1, 2017

/s/ David A. Fisher

David A. Fisher

President and Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Steven E. Cunningham, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Enova International, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 1, 2017

/s/ Steven E. Cunningham

Steven E. Cunningham

Executive Vice President—Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of Enova International, Inc. (the “Company”) for the quarterly period ended September 30, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, David A. Fisher, President and Chief Executive Officer of the Company, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Enova International, Inc. and will be retained by Enova International, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

The undersigned expressly disclaims any obligation to update the foregoing certification except as required by law.

/s/ David A. Fisher

David A. Fisher

President and Chief Executive Officer

Date: November 1, 2017

The foregoing certification is being furnished solely pursuant to the requirements of 18 U.S.C. § 1350 and is not being filed as a part of the Report or as a separate disclosure document.

EX-32.2

EXHIBIT 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of Enova International, Inc. (the “Company”) for the quarterly period ended September 30, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Steven E. Cunningham, Executive Vice President—Chief Financial Officer of the Company, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Enova International, Inc. and will be retained by Enova International, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

The undersigned expressly disclaims any obligation to update the foregoing certification except as required by law.

/s/ Steven E. Cunningham

Steven E. Cunningham

Executive Vice President—Chief Financial Officer

Date: November 1, 2017

The foregoing certification is being furnished solely pursuant to the requirements of 18 U.S.C. § 1350 and is not being filed as a part of the Report or as a separate disclosure document.

XML

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 30, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	Enova International, Inc.
Entity Central Index Key	0001529864
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Trading Symbol	ENVA
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		33,464,780

XML

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Assets
Cash and cash equivalents	$ 110,054	$ 39,934	$ 45,681
Restricted cash and cash equivalents	29,866	26,306	39,272
Loans and finance receivables, net	637,736	561,550	542,865
Income taxes receivable	9,319
Other receivables and prepaid expenses	23,796	19,524	18,649
Property and equipment, net	46,557	47,100	47,486
Goodwill	267,015	267,010	267,012
Intangible assets, net	4,593	5,404	5,675
Other assets	10,842	11,051	8,439
Total assets	1,139,778	977,879	975,079
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	78,897	71,671	85,433
Income taxes currently payable		282	5,149
Deferred tax liabilities, net	20,681	14,316	16,233
Long-term debt	765,395	649,911	635,179
Total liabilities	864,973	736,180	741,994
Commitments and contingencies (Note 8)
Stockholders' equity:
Common stock, $0.00001 par value, 250,000,000 shares authorized, 33,828,668, 33,260,017 and 33,364,525 shares issued and 33,608,611, 33,214,594 and 33,293,100 outstanding as of September 30, 2017 and 2016 and December 31, 2016, respectively	0	0	0
Preferred stock, $0.00001 par value, 25,000,000 shares authorized, no shares issued and outstanding
Additional paid in capital	26,749	18,446	16,338
Retained earnings	257,812	235,455	226,741
Accumulated other comprehensive loss	(7,017)	(11,578)	(9,692)
Treasury stock, at cost (220,057, 45,423 and 71,425 shares as of September 30, 2017 and 2016 and December 31, 2016, respectively)	(2,739)	(624)	(302)
Total stockholders' equity	274,805	241,699	233,085
Total liabilities and stockholders' equity	$ 1,139,778	$ 977,879	$ 975,079

XML

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Restricted cash and cash equivalents	$ 29,866	$ 26,306	$ 39,272
Loans and finance receivables, gross	742,796	660,495	637,612
Allowance for loan losses	105,060	98,945	94,747
Long-term debt	$ 186,533	$ 165,419	$ 136,953
Common stock, par value per share	$ 0.00001	$ 0.00001	$ 0.00001
Common stock, shares authorized	250,000,000	250,000,000	250,000,000
Common stock, shares issued	33,828,668	33,364,525	33,260,017
Common stock, shares outstanding	33,608,611	33,293,100	33,214,594
Preferred stock, par value per share	$ 0.00001	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	25,000,000	25,000,000	25,000,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Treasury stock, shares	220,057	71,425	45,423
Variable Interest Entity, Primary Beneficiary
Restricted cash and cash equivalents	$ 22,161	$ 19,468	$ 18,119
Loans and finance receivables, gross	296,478	234,497	191,534
Allowance for loan losses	22,115	17,731	15,518
Long-term debt	186,533	165,419	136,953
Unamortized debt issuance cost	$ 762	$ 1,869	$ 2,416

XML

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenue	$ 217,878	$ 195,943	$ 600,045	$ 543,131
Cost of Revenue	107,341	95,391	269,087	230,421
Gross Profit	110,537	100,552	330,958	312,710
Expenses
Marketing	27,000	26,722	69,993	73,500
Operations and technology	27,163	20,637	72,512	61,706
General and administrative	25,164	21,307	77,105	76,747
Depreciation and amortization	3,533	3,789	10,396	12,004
Total Expenses	82,860	72,455	230,006	223,957
Income from Operations	27,677	28,097	100,952	88,753
Interest expense, net	(18,292)	(16,117)	(52,526)	(48,058)
Foreign currency transaction gain	65	145	354	2,184
Loss on early extinguishment of debt	(14,927)		(14,927)
(Loss) Income before Income Taxes	(5,477)	12,125	33,853	42,879
(Benefit from) provision for income taxes	(2,109)	4,288	11,496	16,991
Net (Loss) Income	$ (3,368)	$ 7,837	$ 22,357	$ 25,888
Net (loss) income per common share:
Basic	$ (0.10)	$ 0.24	$ 0.67	$ 0.78
Diluted	$ (0.10)	$ 0.23	$ 0.66	$ 0.78
Weighted average common shares outstanding:
Basic	33,670	33,211	33,533	33,176
Diluted	33,670	33,558	34,119	33,360

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net (Loss) Income		$ (3,368)	$ 7,837	$ 22,357	$ 25,888
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)	[1]	2,052	(1,245)	4,561	(5,070)
Total other comprehensive gain (loss), net of tax		2,052	(1,245)	4,561	(5,070)
Comprehensive (Loss) Income		$ (1,316)	$ 6,592	$ 26,918	$ 20,818

[1] Net of tax (provision) benefit of $(1,161) and $707 for the three months ended September 30, 2017 and 2016, respectively, and $(2,578) and $2,860 for the nine months ended September 30, 2017 and 2016, respectively.

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Tax (provision) benefit of foreign currency translation (gain) loss	$ (1,161)	$ 707	$ (2,578)	$ 2,860

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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total		Common Stock	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Balance at Dec. 31, 2015	$ 205,968			$ 9,924	$ 200,853	$ (4,622)	$ (187)
Balance, in shares at Dec. 31, 2015			33,151,000				(29,000)
Stock-based compensation expense	6,414			6,414
Shares issued under stock-based plans			109,000
Net income	25,888				25,888
Foreign currency translation gain (loss), net of tax	(5,070)	[1]				(5,070)
Purchases of treasury shares, at cost	(115)						$ (115)
Treasury Stock Shares Acquired							(16,000)
Balance at Sep. 30, 2016	$ 233,085			16,338	226,741	(9,692)	$ (302)
Balance, in shares at Sep. 30, 2016	33,260,017		33,260,000				(45,000)
Balance at Dec. 31, 2016	$ 241,699			18,446	235,455	(11,578)	$ (624)
Balance, in shares at Dec. 31, 2016	33,364,525		33,365,000				(71,000)
Stock-based compensation expense	$ 8,303			8,303
Shares issued under stock-based plans			464,000
Net income	22,357				22,357
Foreign currency translation gain (loss), net of tax	4,561	[1]				4,561
Purchases of treasury shares, at cost	(2,115)						$ (2,115)
Treasury Stock Shares Acquired							(149,000)
Balance at Sep. 30, 2017	$ 274,805			$ 26,749	$ 257,812	$ (7,017)	$ (2,739)
Balance, in shares at Sep. 30, 2017	33,828,668		33,829,000				(220,000)

[1] Net of tax (provision) benefit of $(1,161) and $707 for the three months ended September 30, 2017 and 2016, respectively, and $(2,578) and $2,860 for the nine months ended September 30, 2017 and 2016, respectively.

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities
Net income	$ 22,357	$ 25,888
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	10,396	12,004
Amortization of deferred loan costs and debt discount	4,515	5,056
Cost of revenue	269,087	230,421
Stock-based compensation expense	8,303	6,414
Loss on early extinguishment of debt	14,927
Deferred income taxes, net	3,802	(1,364)
Other		(151)
Changes in operating assets and liabilities:
Finance and service charges on loans and finance receivables	(10,232)	(12,043)
Other receivables and prepaid expenses	(3,290)	1,700
Accounts payable and accrued expenses	1,033	22,130
Current income taxes	(9,601)	10,652
Net cash provided by operating activities	311,297	300,707
Cash Flows from Investing Activities
Loans and finance receivables originated or acquired	(998,333)	(987,255)
Loans and finance receivables repaid	672,474	651,865
Change in restricted cash	(3,030)	(32,776)
Purchases of property and equipment	(10,804)	(11,466)
Other investing activities	1,798	72
Net cash used in investing activities	(337,895)	(379,560)
Cash Flows from Financing Activities
Borrowings under revolving line of credit	30,000	45,000
Repayments under revolving line of credit	(30,000)	(88,400)
Borrowings under securitization facility	137,200	218,961
Repayments under securitization facility	(116,085)	(82,008)
Issuance of senior notes	250,000
Repayments of senior notes	(155,000)
Debt issuance costs paid	(9,564)	(3,516)
Debt prepayment penalty paid	(11,335)
Treasury shares purchased	(2,115)	(115)
Net cash provided by financing activities	93,101	89,922
Effect of exchange rates on cash	3,617	(7,454)
Net increase in cash and cash equivalents	70,120	3,615
Cash and cash equivalents at beginning of year	39,934	42,066
Cash and cash equivalents at end of period	110,054	45,681
Supplemental Disclosures
Loans and finance receivables renewed	$ 234,258	$ 238,696

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Significant Accounting Policies

9 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

Significant Accounting Policies

1. Significant Accounting Policies

Basis of Presentation

On September 7, 2011, Cash America International, Inc. (“Cash America,” now known as FirstCash, Inc. due to its merger with First Cash Financial Services, Inc. on September 1, 2016), formed a new company, Enova International, Inc. (the “Company”). On September 13, 2011, Cash America contributed to the Company all of the stock of its wholly-owned subsidiary, Enova Online Services, Inc., in exchange for 33 million shares of the Company’s common stock. The Company became an independent, publicly traded company on November 13, 2014 when Cash America completed the tax-free spin-off of approximately 80% of the outstanding shares of the Company to holders of Cash America’s common stock (the “Spin-off”). Cash America (and then First Cash) retained approximately 20% of the Company’s stock but completed the sale of its entire holding in the Company as of December 6, 2016. The consolidated financial statements of the Company reflect the historical results of operations and cash flows of the Company during each respective period. The financial statements include goodwill and intangible assets arising from businesses previously acquired.

The Company operates an internet-based lending platform to serve customers in need of cash to fulfill their financial responsibilities. Through a network of direct and indirect marketing channels, the Company offers funds to its customers through a variety of unsecured loan and finance receivable products. The business is operated primarily through the internet to provide convenient, fully-automated financial solutions to its customers. The Company originates, arranges, guarantees or purchases consumer loans and provides financing to small businesses through a line of credit account, installment loan or receivables purchase agreement product (“RPAs”). Consumer loans include short-term loans, line of credit accounts and installment loans. RPAs represent a right to receive future receivables from a small business. “Loans and finance receivables” include consumer loans, small business lines of credit, small business installment loans and RPAs.

The Company consolidates any variable interest entity (“VIE”) where it has been determined it is the primary beneficiary. The primary beneficiary is the entity which has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance as well as the obligation to absorb losses or receive benefits of the entity that could potentially be significant to the VIE.

The financial statements presented as of September 30, 2017 and 2016 and for the three and nine-month periods ended September 30, 2017 and 2016 are unaudited but, in management’s opinion, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for such interim periods. Operating results for three and nine-month periods are not necessarily indicative of the results that may be expected for the full fiscal year.

These financial statements and related notes should be read in conjunction with the Company’s audited consolidated financial statements as of December 31, 2016 and 2015 and for the years ended December 31, 2016, 2015 and 2014 and related notes, which are included on Form 10-K filed with the SEC on February 24, 2017.

Restricted Cash

The Company includes funds to be used for future debt payments relating to its securitization transactions and escrow deposits in restricted cash and cash equivalents.

Revenue Recognition

The Company recognizes revenue based on the financing products and services it offers and on loans it acquires. “Revenue” in the consolidated statements of income includes: interest income, finance charges, fees for services provided through the Company’s credit services organization and credit access business programs (“CSO programs”) (“CSO fees”), revenue on RPAs, service charges, draw fees, minimum billing fees, purchase fees, late fees and non-sufficient funds fees as permitted by applicable laws and pursuant to the agreement with the customer. For short-term loans that the Company offers, interest and finance charges are recognized on an effective yield basis over the term of the loan. For line of credit accounts, interest is recognized over the reporting period based upon the balance outstanding and the contractual interest rate, draw fees are recognized on an effective yield basis over the estimated outstanding period of the draw, and minimum billing fees are recognized when assessed to the customer. For installment loans, interest is recognized on an effective yield basis over the term of the loan. For RPAs, revenue and purchase fees are recognized on an effective yield basis over the projected delivery term of the agreements and fees are recognized when assessed. CSO fees are recognized on an effective yield basis over the term of the loan. Late and nonsufficient funds fees are recognized when assessed to the customer. Direct costs associated with originating loans and purchasing RPAs, such as third-party customer acquisition costs, are deferred and amortized against revenue on an effective yield basis over the term of the loan or the projected delivery term of the finance receivable. Short-term loans, line of credit accounts, installment loans, RPAs, unpaid and accrued interest, fees and revenue and deferred origination costs are included in “Loans and finance receivables, net” in the consolidated balance sheets.

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. In accordance with Accounting Standards Codification (“ASC”) 350, Goodwill, the Company tests goodwill and intangible assets with an indefinite life for potential impairment annually as of June 30 and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value below its carrying amount.

The Company first assesses qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. In assessing the qualitative factors, management considers relevant events and circumstances including but not limited to macroeconomic conditions, industry and market environment, overall financial performance of the Company, cash flow from operating activities, market capitalization and stock price. If the Company determines that the two-step quantitative impairment test is required, management uses the income approach to complete its annual goodwill assessment. The income approach uses future cash flows and estimated terminal values for the Company that are discounted using a market participant perspective to determine the fair value, which is then compared to the carrying value to determine if there is impairment. The income approach includes assumptions about revenue growth rates, operating margins and terminal growth rates discounted by an estimated weighted-average cost of capital derived from other publicly-traded companies that are similar but not identical from an operational and economic standpoint. The Company completed its annual assessment of goodwill as of June 30, 2017 based on qualitative factors and determined that the fair value of its goodwill exceeded carrying value, and, as a result, no impairment existed at that date. Although no goodwill impairment was noted, there can be no assurances that future goodwill impairments will not occur.

AdoptedAccounting Standards

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). The amendments in ASU 2016-09 simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company adopted ASU 2016-09 on January 1, 2017. The adoption of ASU 2016-09 did not have a material impact on the Company’s financial statements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) (“ASU 2016-15”). The amendments in ASU 2016-15 provide guidance on eight specific cash flow issues, including debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination, distributions received from equity method investees and beneficial interests in securitization transactions. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company adopted ASU 2016-15 on July 1, 2017. The adoption of ASU 2016-15 did not have a material impact on the Company’s financial statements.

Accounting Standards to be Adopted in Future Periods

In May 2017, the FASB issued ASU 2017-09, Compensation–Stock Compensation (Topic 718): Scope of Modification Accounting (“ASU 2017-09”) clarifying when a change to the terms or conditions of a share-based payment award must be accounted for as a modification. The new guidance requires modification accounting if the fair value, vesting condition or the classification of the award is not the same immediately before and after a change to the terms and conditions of the award. The new guidance is effective on a prospective basis for annual periods beginning after December 15, 2016, and interim periods within those annual periods, with early adoption permitted. The adoption of ASU 2017-09 is not expected to have a material impact on the Company’s financial statements.

In January 2017, the FASB issued ASU 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (“ASU 2017-05”) to clarify the scope of Subtopic 610-20, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets, and to add guidance for partial sales of nonfinancial assets. ASU 2017-05 is effective at the same time as the amendments in ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). Therefore, for public entities, the amendments are effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. The Company does not expect that the adoption of ASU 2017-05 will have a material effect on its consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment (“ASU 2017-04”) to simplify the accounting for goodwill impairment. ASU 2017-04 removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company does not expect that the adoption of ASU 2017-04 will have a material effect on its consolidated financial statements.

In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) – Clarifying the Definition of a Business (“ASU 2017-01”). ASU 2017-01 provides a screen to determine when an asset or group of assets acquired is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. ASU 2017-01 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. The Company does not expect that the adoption of ASU 2017-01 will have a material effect on its consolidated financial statements.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash (“ASU 2016-18”). ASU 2016-18 clarifies certain existing principles in ASC 230, Statement of Cash Flows, including providing additional guidance related to transfers between cash and restricted cash and how entities present, in their statement of cash flows, the cash receipts and cash payments that directly affect the restricted cash accounts. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The adoption of ASU 2016-18 will modify the Company's current disclosures and classifications within the consolidated statement of cash flows but it is not expected to have a material effect on the Company’s consolidated financial statements.

In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (“ASU 2016-16”), which requires entities to recognize the income tax impact of an intra-entity sale or transfer of an asset other than inventory when the sale or transfer occurs, rather than when the asset has been sold to an outside party. ASU 2016-16 is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted. The Company does not expect that the adoption of ASU 2016-16 will have a material effect on its consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016‑13”). The amendments in ASU 2016‑13 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. ASU 2016‑13 is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods within those fiscal years. The Company is assessing the impact of ASU 2016‑13, which at the date of adoption will increase the allowance for credit losses with a resulting negative adjustment to retained earnings.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 requires lessee recognition on the balance sheet of a right-of-use asset and a lease liability, initially measured at the present value of the lease payments. It further requires recognition in the income statement of a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis. Finally, it requires classification of all cash payments within operating activities in the statement of cash flows. ASU 2016-02 is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2018. Early adoption is permitted for all entities upon issuance. Upon adoption of ASU 2016-02, the Company expects to report higher assets and liabilities as a result of including additional leases on the consolidated balance sheet. The Company does not expect the adoption of ASU 2016-02 to have a material impact on the consolidated statements of income or the consolidated statements of stockholders' equity.

In January 2016, the FASB issued ASU 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016‑01”), which requires that equity investments, except for those accounted for under the equity method or those that result in consolidation of the investee, be measured at fair value, with subsequent changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. ASU 2016-01 also impacts the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted only for certain provisions. The Company does not expect that the adoption of ASU 2016-01 will have a material effect on its consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. 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. In August 2015, the FASB issued ASU No. 2015-14, Deferral of the Effective Date, deferring the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017. In March 2016, the FASB issued ASU 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net), to clarify revenue recognition accounting when a third party is involved in providing goods or services to a customer. In April 2016, the FASB issued ASU 2016-10, Identifying Performance Obligations and Licensing, to clarify the implementation guidance on identifying performance obligations and licensing. Early adoption of ASU 2016‑10 is permitted only as of an annual reporting period beginning after December 15, 2016. In May 2016, the FASB issued ASU 2016-12, Narrow-Scope Improvements and Practical Expedients, to reduce the risk of diversity in practice for certain aspects in ASU 2014-09, including collectibility, noncash consideration, presentation of sales tax and transition. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers, which clarifies the guidance in Topic 606 on assessing certain aspects of the new revenue standard. The Company plans to adopt the revenue recognition guidance in the first quarter of 2018 using the modified retrospective method of adoption. The Company has completed its initial assessment of the guidance and determined its loan and finance receivables are excluded from the scope of ASU 2014-09. As a result of this scope exception, the Company has concluded the impact to the consolidated financial statements will not be material in the period of adoption and in future periods. The Company is finalizing its assessment of ASU 2014-09 and the impact on its financial statement disclosures.

Out-of-Period Adjustment

In a review of marketing expenses related to the origination of loans, the Company determined during the quarter that certain amounts should be deferred over the life the corresponding loans. The Company recorded a reduction to revenue and marketing expense of $0.7 million and $1.9 million, respectively, in the third quarter of 2017 as an out-of-period adjustment related to amounts from prior periods previously recognized as expense. The Company believes this adjustment was not material to the current period or any previously issued financial statements.

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Acquisitions

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Acquisitions

2. Acquisitions

On June 23, 2015, the Company completed the purchase of certain assets of a company operating as The Business Backer, LLC, which purchases discounted future accounts receivables from small businesses in the United States through RPAs, which provide working capital for small businesses. The total consideration of $26.4 million was comprised of $17.7 million in cash at closing, a $3.0 million promissory note (included in “Accounts payable and accrued expenses” in the consolidated balance sheets) and estimated contingent consideration of $5.7 million based on future earn-out opportunities. The contingent purchase consideration was recorded at its estimated fair value at the date of acquisition based upon the Company’s assessment of the probable earnings attributable to the business as defined in the purchase agreement. To the extent operating results exceed the Company’s estimate, additional contingent consideration would be due, however the total consideration paid may not exceed $71 million. The contingent purchase consideration is revalued each reporting period with changes in fair value of the contingent consideration obligations recognized as a gain or loss on fair value remeasurement in our consolidated statements of income. The fair value of the contingent purchase consideration was remeasured as of December 31, 2016 and a gain from the fair value remeasurement of $3.3 million was recognized. There was no change in fair value measurement of contingent consideration for the three and nine months ended September 30, 2017.

This purchase was not material to the Company’s consolidated financial statements. The operating results of the purchased assets, which were not material, have been included in the Company’s consolidated financial statements from the date of acquisition.

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Loans and Finance Receivables, Credit Quality Information and Allowances and Liabilities for Estimated Losses on Loans and Finance Receivables

9 Months Ended

Sep. 30, 2017

Receivables [Abstract]

Loans and Finance Receivables, Credit Quality Information and Allowances and Liabilities for Estimated Losses on Loans and Finance Receivables

3. Loans and Finance Receivables, Credit Quality Information and Allowances and Liabilities for Estimated Losses on Loans and Finance Receivables

Revenue generated from the Company’s loans and finance receivables for the three and nine months ended September 30, 2017 and 2016 was as follows (dollars in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Short-term loans	$	49,875	$	51,999	$	144,074	$	146,237
Line of credit accounts		68,889		59,090		187,172		158,338
Installment loans and RPAs		98,929		84,823		268,069		237,320
Total loans and finance receivables revenue		217,693		195,912		599,315		541,895
Other		185		31		730		1,236
Total revenue	$	217,878	$	195,943	$	600,045	$	543,131

Current and Delinquent Loans and Finance Receivables

The Company classifies its loans and finance receivables as either current or delinquent. Short-term loans are considered delinquent when payment of an amount due is not made as of the due date. If a line of credit account or installment loan customer misses one payment, that payment is considered delinquent and the balance of the loan is considered current. If a line of credit account or installment loan customer does not make two consecutive payments, the entire account or loan is classified as delinquent and placed on a non-accrual status. The Company allows for normal payment processing time before considering a loan delinquent but does not provide for any additional grace period.

The Company does not accrue interest on delinquent loans and does not resume accrual of interest on a delinquent loan unless it is returned to current status. In addition, delinquent loans generally may not be renewed, and if, during its attempt to collect on a delinquent loan, the Company allows additional time for payment through a payment plan or a promise to pay, it is still considered delinquent. Generally, all payments received are first applied against accrued but unpaid interest and fees and then against the principal balance of the loan.

Allowance and Liability for Estimated Losses on Loans and Finance Receivables

The Company monitors the performance of its loan and finance receivable portfolios and maintains either an allowance or liability for estimated losses on loans and finance receivables (including revenue, fees and/or interest) at a level estimated to be adequate to absorb losses inherent in the portfolio. The allowance for losses on the Company’s owned loans and finance receivables reduces the outstanding loans and finance receivables balance in the consolidated balance sheets. The liability for estimated losses related to loans guaranteed under its CSO programs is initially recorded at fair value and is included in “Accounts payable and accrued expenses” in the consolidated balance sheets.

In determining the allowance or liability for estimated losses on loans and finance receivables, the Company applies a documented systematic methodology. In calculating the allowance or liability for receivable losses, outstanding loans and finance receivables are divided into discrete groups of short-term loans, line of credit accounts, installment loans and RPAs and are analyzed as current or delinquent. Increases in either the allowance or the liability, net of charge-offs and recoveries, are recorded as a “Cost of revenue” in the consolidated statements of income.

The allowance or liability for short-term loans classified as current is based on historical loss rates adjusted for recent default trends for current loans. For delinquent short-term loans, the allowance or liability is based on a six-month rolling average of loss rates by stage of collection. For line of credit account, installment loan and RPA portfolios, the Company generally uses either a migration analysis or roll-rate based methodology to estimate losses inherent in the portfolio. The allowance or liability calculation under the migration analysis and roll-rate methodology is based on historical charge-off experience and the loss emergence period, which represents the average amount of time between the first occurrence of a loss event and the charge-off of a loan or RPA. The factors the Company considers to assess the adequacy of the allowance or liability include past due performance, historical behavior of monthly vintages, underwriting changes and recent trends in delinquency in the migration analysis. The roll-rate methodology is based on delinquency status, payment history and recency factors to estimate future charge-offs.

The Company fully reserves for loans and finance receivables once the receivable or a portion of the receivable has been classified as delinquent for 60 consecutive days and generally charges off loans and finance receivables between 60 – 65 days delinquent. If a loan or finance receivable is deemed uncollectible before it is fully reserved, it is charged off at that point. Loans and finance receivables classified as delinquent generally have an age of one to 64 days from the date any portion of the receivable became delinquent, as defined above. Recoveries on loans and finance receivables previously charged to the allowance are credited to the allowance when collected.

The components of Company-owned loans and finance receivables at September 30, 2017 and 2016 and December 31, 2016 were as follows (dollars in thousands):

	As of September 30, 2017
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Current receivables	$	40,588		$	146,891		$	480,522		$	668,001
Delinquent receivables:
Delinquent payment amounts(1)		—			5,913			3,382			9,295
Receivables on non-accrual status		27,131			1,885			36,484			65,500
Total delinquent receivables		27,131			7,798			39,866			74,795
Total loans and finance receivables, gross		67,719			154,689			520,388			742,796
Less: Allowance for losses		(19,161	)		(26,810	)		(59,089	)		(105,060	)
Loans and finance receivables, net	$	48,558		$	127,879		$	461,299		$	637,736

	As of September 30, 2016
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Current receivables	$	35,815		$	120,951		$	412,010		$	568,776
Delinquent receivables:
Delinquent payment amounts(1)		—			4,975			1,721			6,696
Receivables on non-accrual status		24,310			6,462			31,368			62,140
Total delinquent receivables		24,310			11,437			33,089			68,836
Total loans and finance receivables, gross		60,125			132,388			445,099			637,612
Less: Allowance for losses		(17,726	)		(26,795	)		(50,226	)		(94,747	)
Loans and finance receivables, net	$	42,399		$	105,593		$	394,873		$	542,865

	As of December 31, 2016
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Current receivables	$	35,516		$	130,576		$	413,638		$	579,730
Delinquent receivables:
Delinquent payment amounts(1)		—			4,560			2,110			6,670
Receivables on non-accrual status		27,489			9,047			37,559			74,095
Total delinquent receivables		27,489			13,607			39,669			80,765
Total loans and finance receivables, gross		63,005			144,183			453,307			660,495
Less: Allowance for losses		(17,770	)		(26,594	)		(54,581	)		(98,945	)
Loans and finance receivables, net	$	45,235		$	117,589		$	398,726		$	561,550

(1) Represents the delinquent portion of installment loans and line of credit account balances for customers that have only missed one payment and RPA customers who have not delivered agreed upon receivables. See “Current and Delinquent Loans and Finance Receivables” above for additional information.

Changes in the allowance for losses for the Company-owned loans and finance receivables and the liability for losses on the Company’s guarantees of third-party lender-owned loans during the three and nine months ended September 30, 2017 and 2016 were as follows (dollars in thousands):

	Three Months Ended September 30, 2017
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Allowance for losses for Company-owned loans and finance receivables:
Balance at beginning of period	$	15,688		$	22,847		$	45,304		$	83,839
Cost of revenue		23,724			23,439			60,102			107,265
Charge-offs		(25,521	)		(22,708	)		(57,228	)		(105,457	)
Recoveries		5,082			3,232			10,630			18,944
Effect of foreign currency translation		188			—			281			469
Balance at end of period	$	19,161		$	26,810		$	59,089		$	105,060
Liability for third-party lender-owned loans:
Balance at beginning of period	$	1,761		$	—		$	180		$	1,941
Increase (decrease) in liability		125			—			(49	)		76
Balance at end of period	$	1,886		$	—		$	131		$	2,017

	Three Months Ended September 30, 2016
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Allowance for losses for Company-owned loans and finance receivables:
Balance at beginning of period	$	13,354		$	18,029		$	42,437		$	73,820
Cost of revenue		20,464			29,739			45,293			95,496
Charge-offs		(21,301	)		(24,639	)		(44,804	)		(90,744	)
Recoveries		5,345			3,666			7,421			16,432
Effect of foreign currency translation		(136	)		—			(121	)		(257	)
Balance at end of period	$	17,726		$	26,795		$	50,226		$	94,747
Liability for third-party lender-owned loans:
Balance at beginning of period	$	1,392		$	—		$	441		$	1,833
Increase (decrease) in liability		66			—			(172	)		(106	)
Balance at end of period	$	1,458		$	—		$	269		$	1,727

	Nine Months Ended September 30, 2017
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Allowance for losses for Company-owned loans and finance receivables:
Balance at beginning of period	$	17,770		$	26,594		$	54,581		$	98,945
Cost of revenue		55,865			63,138			150,063			269,066
Charge-offs		(70,962	)		(73,252	)		(177,002	)		(321,216	)
Recoveries		16,009			10,330			30,782			57,121
Effect of foreign currency translation		479			—			665			1,144
Balance at end of period	$	19,161		$	26,810		$	59,089		$	105,060
Liability for third-party lender-owned loans:
Balance at beginning of period	$	1,716		$	—		$	280		$	1,996
Increase (decrease) in liability		170			—			(149	)		21
Balance at end of period	$	1,886		$	—		$	131		$	2,017

	Nine Months Ended September 30, 2016
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Allowance for losses for Company-owned loans and finance receivables:
Balance at beginning of period	$	14,652		$	15,727		$	36,943		$	67,322
Cost of revenue		47,860			63,461			119,128			230,449
Charge-offs		(59,664	)		(63,236	)		(127,473	)		(250,373	)
Recoveries		15,448			10,843			21,217			47,508
Effect of foreign currency translation		(570	)		—			411			(159	)
Balance at end of period	$	17,726		$	26,795		$	50,226		$	94,747
Liability for third-party lender-owned loans:
Balance at beginning of period	$	1,298		$	—		$	458		$	1,756
Increase (decrease) in liability		160			—			(189	)		(29	)
Balance at end of period	$	1,458		$	—		$	269		$	1,727

Guarantees of Consumer Loans

In connection with its CSO programs, the Company guarantees consumer loan payment obligations to unrelated third-party lenders for short-term and installment loans and is required to purchase any defaulted loans it has guaranteed. The guarantee represents an obligation to purchase specific loans that go into default. As of September 30, 2017 and 2016 and December 31, 2016, the amount of consumer loans guaranteed by the Company was $28.9 million, $29.7 million and $32.2 million, respectively, representing amounts due under consumer loans originated by third-party lenders under the CSO programs. The estimated fair value of the liability for estimated losses on consumer loans guaranteed by the Company of $2.0 million, $1.7 million and $2.0 million, as of September 30, 2017 and 2016 and December 31, 2016, respectively, is included in “Accounts payable and accrued expenses” in the consolidated balance sheets.

Bank Program Loans

In order to leverage its online lending platform, the Company launched a program with a bank in 2016 to provide technology, marketing services, and loan servicing for near-prime unsecured consumer installment loans. Under the program, the Company receives marketing and servicing fees while the bank receives an origination fee. The bank has the ability to sell the loans it originates to the Company. The Company does not guarantee the performance of the loans originated by the bank.

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Investment in Unconsolidated Investee

9 Months Ended

Sep. 30, 2017

Investments All Other Investments [Abstract]

Investment in Unconsolidated Investee

4. Investment in Unconsolidated Investee

The Company records an investment in the preferred stock of a privately-held developing financial services entity under the cost method. The carrying value of the Company’s investment in this unconsolidated investee was $6.7 million as of September 30, 2017 and 2016 and December 31, 2016, and was held in “Other assets” in the Company’s consolidated balance sheets. The Company evaluates this investment for impairment if an event occurs or circumstances change that would more likely than not reduce the fair value of the investment below carrying value. Based on the Company’s evaluation of this investment at September 30, 2017, the Company determined that an impairment loss was not probable at that date.

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Long-term Debt

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Long-term Debt

5. Long-term debt

The Company’s long-term debt instruments and balances outstanding as of September 30, 2017 and 2016 and December 31, 2016 were as follows (dollars in thousands):

	September 30,						December 31,
	2017			2016			2016
Securitization notes	$	186,533		$	136,953		$	165,419
Revolving line of credit		—			15,000			—
9.75% senior notes due 2021		342,407			495,427			495,622
8.50% senior notes due 2024		250,000			—			—
Subtotal		778,940			647,380			661,041
Less: Long-term debt issuance costs		(13,545	)		(12,201	)		(11,130	)
Total long-term debt	$	765,395		$	635,179		$	649,911

8.50% Senior Unsecured Notes Due 2024

On September 1, 2017, the Company issued and sold $250.0 million in aggregate principal amount of 8.50% Senior Notes due 2024 (the “2024 Senior Notes”). The 2024 Senior Notes were sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and outside the United States pursuant to Regulation S under the Securities Act. The 2024 Senior Notes bear interest at a rate of 8.50% annually on the principal amount payable semi-annually in arrears on March 1 and September 1 of each year, beginning on March 1, 2018. The 2024 Senior Notes were sold at a price of 100%. The 2024 Senior Notes will mature on September 1, 2024. The 2024 Senior Notes are unsecured debt obligations of the Company, and are unconditionally guaranteed by certain of the Company’s domestic subsidiaries.

The 2024 Senior Notes are redeemable at the Company’s option, in whole or in part, (i) at any time prior to September 1, 2020 at 100% of the aggregate principal amount of 2024 Senior Notes redeemed plus the applicable “make whole” premium specified in the indenture that governs the Company’s 2024 Notes (the "2024 Senior Notes Indenture"), plus accrued and unpaid interest, if any, to the redemption date and (ii) at any time on or after September 1, 2020 at the premium, if any, specified in the 2024 Senior Notes Indenture that will decrease over time, plus accrued and unpaid interest, if any, to the redemption date. In addition, prior to September 1, 2020, at its option, the Company may redeem up to 40% of the aggregate principal amount of the 2024 Senior Notes at a redemption price of 108.5% of the aggregate principal amount of 2024 Senior Notes redeemed, plus accrued and unpaid interest, if any, to the redemption date, with the proceeds of certain equity offerings as described in the 2024 Senior Notes Indenture.

The 2024 Senior Notes and the related guarantees have not been and will not be registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign securities laws.

In connection with the issuance of the 2024 Senior Notes, the Company incurred approximately $7.6 million of issuance costs, which primarily consisted of underwriting fees, legal and other professional expenses.

The Company used the net proceeds of the 2024 Senior Notes offering to retire a portion of its outstanding 9.75% senior notes due 2021, to pay the related accrued interest, premiums, fees and expenses associated therewith and for general corporate purposes, which may include working capital and future repurchases of its outstanding debt securities.

As of September 30, 2017, the carrying amount of the 2024 Senior Notes was $242.5 million, which includes unamortized issuance costs of $7.5 million. The total interest expense recognized was $1.9 million for the nine months ended September 30, 2017.

Consumer Loan Securitization

2016-1 Facility

On January 15, 2016, the Company and certain of its subsidiaries entered into a receivables securitization (as amended, the “2016‑1 Securitization Facility”) with certain purchasers, Jefferies Funding LLC, as administrative agent (the “Administrative Agent”) and Bankers Trust Company, as indenture trustee and securities intermediary (the “Indenture Trustee”). The 2016‑1 Securitization Facility securitizes unsecured consumer installment loans (“Receivables”) that have been, or will be, originated or acquired under the Company’s NetCredit brand and that meet specified eligibility criteria. Under the 2016‑1 Securitization Facility, Receivables are sold to EFR 2016‑1, LLC, a wholly-owned special purpose subsidiary (the “Issuer”), and serviced by another subsidiary.

The Issuer issued an initial term note of $107.4 million (the “Initial Term Note”), which was secured by $134 million in unsecured consumer loans, and variable funding notes (the “Variable Funding Notes”) with an aggregate availability of $20 million per month; the 2016‑1 Securitization Facility was amended to increase the availability to $40 million until December 31, 2016, and $30 million thereafter, as discussed below. As described below, the Issuer has issued and will subsequently issue term notes (the “Term Notes” and, together with the Initial Term Note and the Variable Funding Notes, the “Securitization Notes”). The maximum principal amount of the Securitization Notes that may be outstanding at any time under the 2016‑1 Securitization Facility was limited to $175 million; the 2016‑1 Securitization Facility was amended to increase the maximum principal amount to $275 million, as discussed below.

At the end of each month during the nine-month revolving period, the Receivables funded by the Variable Funding Notes have been and will be refinanced through the creation of two Term Notes, which Term Notes have been and will be issued to the holders of the Variable Funding Notes. The non-recourse Securitization Notes mature at various dates, the latest of which will be October 15, 2020 (the “Final Maturity Date”). The 2016‑1 Securitization Facility has been amended to extend the revolving period to October 2017 and the latest maturity to October 2021, as discussed below.

The Securitization Notes are issued pursuant to an indenture, dated as of January 15, 2016 (the “Closing Date”). The Securitization Notes bear interest at an annual rate equal to the one month London Interbank Offered Rate (“LIBOR”) (subject to a floor of 1%) plus 7.75%, which rate was initially 8.75%. In addition, the Issuer paid certain customary upfront closing fees and will pay customary annual commitment and other fees to the purchasers under the 2016‑1 Securitization Facility. The Issuer is permitted to voluntarily prepay any outstanding Securitization Notes, subject to an optional redemption premium. Interest and principal payments on outstanding Securitization Notes are made monthly. Any remaining amounts outstanding will be payable no later than the Final Maturity Date.The Securitization Notes are supported by the cash flows from the underlying Receivables. The holders of the Securitization Notes have no recourse to the Company if the cash flows from the underlying Receivables are not sufficient to pay all of the principal and interest on the Securitization Notes unless the underlying Receivables breach the representations and warranties made by us as of the related sale date as described below. Additionally, the Receivables will be held by the Issuer at least until the obligations under the Securitization Notes are satisfied. For so long as the Receivables are owned by the Issuer, the outstanding Receivables will not be available to satisfy the Company’s other debts and obligations.

All amounts due under the Securitization Notes are secured by all of the Issuer’s assets, which include the Receivables transferred to the Issuer, related rights under the Receivables, specified bank accounts, and certain other related collateral.

The 2016‑1 Securitization Facility documents contain customary provisions for securitizations, including: representations and warranties as to the eligibility of the Receivables and other matters; indemnification for specified losses not including losses due to the inability of consumers to repay their loans; covenants regarding special purpose entity matters and other subjects; and default and termination provisions which provide for the acceleration of the Securitization Notes under the 2016‑1 Securitization Facility in circumstances including, but not limited to, failure to make payments when due, servicer defaults, certain insolvency events, breaches of representations, warranties or covenants, failure to maintain the security interest in the receivables, defaults under other material indebtedness and certain regulatory matters.

The agreements evidencing the 2016‑1 Facility, all dated as of the Closing Date, include (i) an Indenture between the Issuer and the Indenture Trustee, (ii) a Note Purchase Agreement among the Issuer, NetCredit Loan Services, LLC (f/k/a Enova Lending Services, LLC), as the Master Servicer, the Administrative Agent and certain purchasers, and (iii) a Receivables Purchase Agreement between the Company and Enova Finance 5, LLC. On July 26, 2016, the Company and certain of its subsidiaries entered into a First Omnibus Amendment (the “First Amendment”) of the 2016‑1 Facility that was established on the Closing Date, pursuant to various agreements with certain purchasers, the Administrative Agent and the Indenture Trustee. The First Amendment effected a variety of minor technical changes to the Indenture, the Note Purchase Agreement, the Receivables Purchase Agreement and the servicing agreement for the 2016‑1 Facility. These changes included revised procedures under the Note Purchase Agreement for the disbursement to the Issuer of proceeds from draws under the Variable Funding Notes and clarification of modifications that the servicer is permitted to effect to the terms of the Receivables that have been transferred into the EFR 2016‑1 Facility.

On August 17, 2016, the Company and one of its subsidiaries entered into an Amendment to the Receivables Purchase Agreement. This amendment modified an eligibility criterion for Receivables that the Company sells under the Agreement.

On September 12, 2016, the Company and certain of its subsidiaries entered into a Second Omnibus Amendment (the “Second Amendment”) to amend the Indenture and the Receivables Purchase Agreement. The Second Amendment authorized the Company to include in the 2016‑1 Facility Receivables originated by a state-chartered bank and acquired by a subsidiary of the Company from that bank, and it adjusted the Investment Pool Cumulative Net Loss Trigger for the Initial Term Note Investment Pool (as such terms are defined in the Indenture), which was the seasoned pool of receivables securitized under the 2016‑1 Facility on the Closing Date.

On October 20, 2016, the Company and certain of its subsidiaries entered into a Third Amendment and Limited Waiver (the “Third Amendment”) to amend the Indenture and Receivables Purchase Agreement. The Third Amendment increased the maximum principal amount of the 2016‑1 Facility to $275 million, increased the Variable Funding Notes maximum principal amount to $40 million until December 31, 2016, and $30 million thereafter, and extended the revolving period of the facility to October 2017. The Third Amendment also adjusted the Note Interest Rate on Term Notes issued after, and amounts outstanding under the Variable Funding Notes after, the date of the Third Amendment (as such terms are defined in the Indenture). The weighted average interest rate on such adjusted Notes is 9.5%.

On November 14, 2016, the Company and certain of its subsidiaries entered into a Fourth Amendment (the “Fourth Amendment”) to amend the Indenture and Receivables Purchase Agreement. The Fourth Amendment adjusted the Investment Pool Cumulative Delinquency Trigger (as such term is defined in the Indenture), with an effective date of October 31, 2016.

On December 14, 2016, the Company and certain of its subsidiaries entered into a Fifth Amendment (the “Fifth Amendment”) to amend the Indenture and Receivables Purchase Agreement. The Fifth Amendment adjusted the Investment Pool Cumulative Delinquency Trigger (as such term is defined in the Indenture) for the Initial Term Notes, with an effective date of November 30, 2016, expanded the categories of Receivables that could be financed through the 2016‑1 Facility and made certain other minor changes. These changes provide the Company with additional flexibility under the 2016‑1 Facility.

As of September 30, 2017 and 2016, the carrying amount of the 2016‑1 Securitization Facility was $173.7 million and $134.5 million, respectively, which included unamortized issuance costs of $0.8 million and $2.4 million, respectively. The issuance costs are being amortized to interest expense over a period of four years. The total interest expense recognized was $11.4 million and $9.5 million of which $1.1 million and $2.6 million represented the non-cash amortization of the issuance costs for the nine months ended September 30, 2017 and 2016, respectively.

2016‑2 Facility

On December 1, 2016, the Company and certain of its subsidiaries entered into a receivables securitization (the “2016‑2 Facility”) with Redpoint Capital Asset Funding, LLC, as lender (the “Lender”). The 2016‑2 Facility securitizes unsecured consumer installment loans (“Redpoint Receivables”) that have been and will be originated or acquired under the Company’s NetCredit brand by several of the Company’s subsidiaries (the “Originators”) and that meet specified eligibility criteria, including that the annual percentage rate for each securitized consumer loan is greater than or equal to 90%. Under the 2016‑2 Facility, Redpoint Receivables are sold to a wholly-owned special purpose subsidiary of the Company (the “Debtor”) and serviced by another subsidiary of the Company.

The Debtor has issued a revolving note with an initial maximum principal balance of $20.0 million (the “Initial Facility Size”), which is required to be secured by $25.0 million in unsecured consumer loans. The Initial Facility Size may be increased under the 2016‑2 Facility to $40 million. The 2016‑2 Facility is non-recourse to the Company and matures on December 1, 2019.

The 2016‑2 Facility is governed by a loan and security agreement, dated as of December 1, 2016, between the Lender and the Debtor. The 2016‑2 Facility bears interest at a rate per annum equal to LIBOR (subject to a floor) plus an applicable margin, which rate per annum was initially 12.50%. In addition, the Debtor paid certain customary upfront closing fees to the Lender. Interest payments on the 2016‑2 Facility will be made monthly. Subject to certain exceptions, the Debtor is not permitted to prepay the 2016‑2 Facility prior to October 1, 2018. Following such date, the Debtor is permitted to voluntarily prepay the 2016‑2 Facility without penalty. Any remaining amounts outstanding will be payable no later than December 1, 2019.

All amounts due under the 2016‑2 Facility are secured by all of the Debtor’s assets, which include the Redpoint Receivables transferred to the Debtor, related rights under the Redpoint Receivables, a bank account and certain other related collateral.

The 2016‑2 Facility documents contain customary provisions for securitizations, including: representations and warranties as to the eligibility of the Redpoint Receivables and other matters; indemnification for specified losses not including losses due to the inability of consumers to repay the related Receivables; and default and termination provisions which provide for the acceleration of the 2016‑2 Facility in circumstances including, but not limited to, failure to make payments when due, certain insolvency events, breaches of representations, warranties or covenants, failure to maintain the security interest in the receivables and defaults under other material indebtedness of the Debtor.

As of September 30, 2017, the carrying amount of the 2016‑2 Facility was $12.1 million. In connection with the issuance of the 2016‑2 Facility, the Company incurred debt issuance costs of approximately $0.2 million. The unamortized balance of these costs as of September 30, 2017 is included in “Other assets” in the consolidated balance sheets. These costs are being amortized to interest expense over a period of 36 months, the term of the 2016‑2 Facility. The total interest expense recognized was $1.4 million for the nine months ended September 30, 2017.

Revolving Credit Facilities

On May 14, 2014, the Company and certain of its subsidiaries as guarantors entered into a credit agreement among the Company, the guarantors, Jefferies Finance LLC as administrative agent and Jefferies Group LLC as lender (the “2014 Credit Agreement”). The 2014 Credit Agreement was terminated on June 30, 2017. The Company had no outstanding borrowings under the 2014 Credit Agreement as of September 30, 2016 and December 31, 2016.

The 2014 Credit Agreement also included a sub-limit of up to $20.0 million for standby or commercial letters of credit. In the event that an amount was paid by the issuing bank under a letter of credit, it would have been due and payable by the Company on demand. The Company had outstanding letters of credit under the 2014 Credit Agreement of $6.6 million as of each of September 30, 2016 and December 31, 2016.

In connection with the issuance of the 2014 Credit Agreement, as amended, the Company incurred debt issuance costs of approximately $1.6 million, which primarily consisted of underwriting fees and legal expenses. The unamortized balance of these costs was included in “Other assets” in the consolidated balance sheets. These costs were amortized to interest expense over a period of 37 months, the term of the 2014 Credit Agreement.

On June 30, 2017, the Company and certain of its operating subsidiaries entered into an asset-backed secured revolving credit agreement with a syndicate of banks including TBK Bank, SSB (“TBK”), as Administrative Agent and Collateral Agent, Jefferies Finance LLC and TBK as Joint Lead Arrangers and Joint Lead Bookrunners, and Green Bank, N.A., as Lender (the “2017 Credit Agreement”).

The 2017 Credit Agreement is secured by domestic receivables and replaced the 2014 Credit Agreement. The borrowing limit in the 2017 Credit Agreement increased to $40 million from $35 million in the 2014 Credit Agreement, and its maturity date is May 1, 2020. The Company had no outstanding borrowings under the 2017 Credit Agreement as of September 30, 2017.

The 2017 Credit Agreement provides for a revolving credit line with interest on borrowings under the facility at prime rate plus 1.00%. In addition, the 2017 Credit Agreement provides for payment of a commitment fee calculated with respect to the unused portion of the line, and ranges from 0.30% per annum to 0.50% per annum depending on usage. A portion of the revolving credit facility, up to a maximum of $20 million, is available for the issuance of letters of credit. The Company had outstanding letters of credit under the 2017 Credit Agreement of $8.0 million as of September 30, 2017. The 2017 Credit Agreement provides for certain prepayment penalties if it is terminated on or before its first and second anniversary date, subject to certain exceptions.

The 2017 Credit Agreement contains certain limitations on the incurrence of additional indebtedness, investments, the attachment of liens to the Company’s property, the amount of dividends and other distributions, fundamental changes to the Company or its business and certain other activities of the Company. The 2017 Credit Agreement contains standard financial covenants for a facility of this type based on a leverage ratio and a fixed charge coverage ratio. The 2017 Credit Agreement also provides for customary affirmative covenants, including financial reporting requirements, and certain events of default, including payment defaults, covenant defaults and other customary defaults.

In connection with the issuance of the 2017 Credit Agreement, as amended, the Company incurred debt issuance costs of approximately $2.0 million, which primarily consisted of underwriting fees and legal expenses. The unamortized balance of these costs as of September 30, 2017 is included in “Other assets” in the consolidated balance sheets. These costs are being amortized to interest expense over a period of 34 months, the term of the 2017 Credit Agreement.

9.75% Senior Unsecured Notes Due 2021

On May 30, 2014, the Company issued and sold $500.0 million in aggregate principal amount of 9.75% Senior Notes due 2021 (the “2021 Senior Notes”). The 2021 Senior Notes bear interest at a rate of 9.75% annually on the principal amount payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2014. The 2021 Senior Notes were sold at a discount of the principal amount to yield 10.0% to maturity and will mature on June 1, 2021.

During the three months ended September 30, 2017, the Company repurchased $155.0 million principal amount of the 2021 Senior Notes for aggregate cash consideration of $166.3 million plus accrued interest. In connection with these purchases, the Company recorded a loss on extinguishment of debt of approximately $14.9 million ($9.2 million net of tax), which is included in “Loss on early extinguishment of debt” in the consolidated statements of income.

As of September 30, 2017 and 2016, the carrying amount of the 2021 Senior Notes was $337.1 million and $485.6 million, respectively, which included an unamortized discount of $2.6 million and $4.6 million, respectively, and unamortized issuance costs of $5.3 million and $9.8 million, respectively. The discount and issuance costs are being amortized to interest expense over a period of seven years, through the maturity date of June 1, 2021. The total interest expense recognized for the nine months ended September 30, 2017and 2016 was $38.0 million and $38.7 million, respectively, of which $0.6 million for each period represented the non-cash amortization of the discount and $1.5 million and $1.6 million, respectively, represented the non-cash amortization of the issuance costs.

Weighted-average interest rates on long-term debt were 10.58% and 10.75% during the nine months ended September 30, 2017 and 2016, respectively.

As of September 30, 2017 and 2016 and December 31, 2016, the Company was in compliance with all covenants and other requirements set forth in the prevailing long-term debt agreement(s).

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Earnings Per Share

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Earnings Per Share

6. Earnings Per Share

Basic earnings per share is computed by dividing net (loss) income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by giving effect to the potential dilution that could occur if securities or other contracts to issue common shares were exercised and converted into common shares during the period. Restricted stock units issued under the Company’s stock-based employee compensation plans are included in diluted shares upon the granting of the awards even though the vesting of shares will occur over time.

The following table sets forth the reconciliation of numerators and denominators of basic and diluted earnings per share computations for the three and nine months ended September 30, 2017 and 2016 (in thousands, except per share amounts):

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2017			2016		2017		2016
Numerator:
Net (loss) income	$	(3,368	)	$	7,837	$	22,357	$	25,888
Denominator:
Total weighted average basic shares		33,670			33,211		33,533		33,176
Shares applicable to stock-based compensation		—			347		586		184
Total weighted average diluted shares		33,670			33,558		34,119		33,360
Earnings per share:
Net (loss) income per share – basic	$	(0.10	)	$	0.24	$	0.67	$	0.78
Net (loss) income per share – diluted	$	(0.10	)	$	0.23	$	0.66	$	0.78

For the three months ended September 30, 2017 and 2016, 2,138,180 and 1,467,202 shares of common stock underlying stock options, respectively, and 1,592,937 and 343,663 shares of common stock underlying restricted stock units, respectively, were excluded from the calculation of diluted net (loss) income per share because their effect would have been antidilutive. For the nine months ended September 30, 2017 and 2016, 1,552,045 and 1,783,073 shares of common stock underlying stock options, respectively, and 242,677 and 520,688 shares of common stock underlying restricted stock units, respectively, were excluded from the calculation of diluted net (loss) income per share because their effect would have been antidilutive.

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Operating Segment Information

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Operating Segment Information

7. Operating Segment Information

The Company provides online financial services to alternative credit consumers and small businesses in the United States, United Kingdom and Brazil and has one reportable segment, which is composed of the Company’s domestic and international operations and corporate services. Corporate services primarily includes personnel, occupancy and other operating expenses for shared functions, such as executive management, technology, analytics, business development, legal and licensing, compliance, risk management, internal audit, human resources, payroll, treasury, finance, accounting, and tax. Corporate Services assets primarily include: corporate property and equipment, nonqualified savings plan assets, marketable securities, restricted cash and prepaid expenses. The Company has aggregated all components of its business into a single reportable segment based on the similarities of the economic characteristics, the nature of the products and services, the nature of the production and distribution methods, the type of customer and the nature of the regulatory environment.

The following tables present information on the Company’s domestic, international operations and corporate services as of and for the three and nine months ended September 30, 2017 and 2016 (dollars in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017			2016
Revenue
Domestic	$	181,584		$	165,330		$	504,326		$	449,100
International		36,294			30,613			95,719			94,031
Total revenue	$	217,878		$	195,943		$	600,045		$	543,131
Income (Loss) from operations
Domestic	$	55,767		$	44,015		$	176,402		$	148,717
International		(1,983	)		5,659			3,939			16,136
Corporate services		(26,107	)		(21,577	)		(79,389	)		(76,100	)
Total income from operations	$	27,677		$	28,097		$	100,952		$	88,753
Depreciation and amortization
Domestic	$	1,634		$	1,385		$	4,692		$	4,552
International		396			409			1,136			1,813
Corporate services		1,503			1,995			4,568			5,639
Total depreciation and amortization	$	3,533		$	3,789		$	10,396		$	12,004
Expenditures for property and equipment
Domestic	$	2,231		$	2,395		$	4,271		$	5,425
International		1,281			1,043			3,401			2,489
Corporate services		1,991			379			3,132			3,552
Total expenditures for property and equipment	$	5,503		$	3,817		$	10,804		$	11,466

	September 30,
	2017		2016
Property and equipment, net
Domestic	$	22,541	$	19,259
International		7,106		5,094
Corporate services		16,910		23,133
Total property and equipment, net	$	46,557	$	47,486
Assets
Domestic	$	899,495	$	823,737
International		126,583		98,842
Corporate services		113,700		52,500
Total assets	$	1,139,778	$	975,079

Geographic Information

The following table presents the Company’s revenue by geographic region for the three and nine months ended September 30, 2017 and 2016 (dollars in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Revenue
United States	$	181,584	$	165,330	$	504,326	$	449,100
United Kingdom		30,679		26,793		82,528		78,882
Other international countries		5,615		3,820		13,191		15,149
Total revenue	$	217,878	$	195,943	$	600,045	$	543,131

The Company’s long-lived assets, which consist of the Company’s property and equipment, were $46.6 million and $47.5 million at September 30, 2017 and 2016, respectively. The operations for the Company’s domestic and international businesses are primarily located within the United States, and the value of any long-lived assets located outside of the United States is immaterial.

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Commitments and Contingencies

9 Months Ended

Sep. 30, 2017

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

8. Commitments and Contingencies

Litigation

On March 8, 2013, Flemming Kristensen, on behalf of himself and others similarly situated, filed a purported class action lawsuit in the U.S. District Court of Nevada against the Company and other unaffiliated lenders and lead providers. The lawsuit alleges that the lead provider defendants sent unauthorized text messages to consumers on behalf of the Company and the other lender defendants in violation of the Telephone Consumer Protection Act. The complaint seeks class certification, statutory damages, an injunction against “wireless spam activities,” and attorneys’ fees and costs. The Company filed an answer to the complaint denying all liability. On March 26, 2014, the Court granted class certification. On July 20, 2015, the court granted the Company’s motion for summary judgment, denied Plaintiff’s motion for summary judgment and, on July 21, 2015, entered judgment in favor of the Company. Plaintiff filed a motion for reconsideration, which was denied. On May 3, 2016, Plaintiff filed a notice of appeal of the order granting summary judgment for the Company, the judgment in favor of the company, and the order denying Plaintiff’s motion to reconsider. Appellate briefing is now complete, and the court has heard oral arguments. Neither the likelihood of an unfavorable appellate decision nor the ultimate liability, if any, with respect to this matter can be determined at this time, and the Company is currently unable to estimate a range of reasonably possible losses, as defined by ASC 450-20-20, Contingencies–Loss Contingencies–Glossary, for this litigation. The Company believes that the Plaintiff’s claims in the complaint are without merit and intends to vigorously defend this lawsuit.

The Company is also involved in certain routine legal proceedings, claims and litigation matters encountered in the ordinary course of its business. Certain of these matters may be covered to an extent by insurance or by indemnification agreements with third parties. The Company has recorded accruals in its consolidated financial statements for those matters in which it is probable that it has incurred a loss and the amount of the loss, or range of loss, can be reasonably estimated. In the opinion of management, the resolution of these matters will not have a material adverse effect on the Company’s financial position, results of operations or liquidity.

Headquarters Relocation

During 2014 the Company accelerated the lease expiration date for approximately 86,000 rentable square feet at its prior headquarters office space effective June 30, 2015. The Company relocated to its current headquarters in 2015 and recognized an expense of $3.7 million which was included as “General and administrative expense” and consisted of a lease exit liability of $2.9 million for the remaining lease payments, net of estimated sublease income of $1.7 million, and $0.8 million for the removal of property and restoration costs related to the prior headquarters lease. The Company did not incur further material costs related to the relocation.

The following table is a summary of the exit and disposal activity and liability balances as a result of the headquarters relocation for the nine months ended September 30, 2017 and the twelve months ended December 31, 2016 (in thousands):

	Lease Termination Costs			Other Exit Costs			Total
Balance at January 1, 2016	$	1,425		$	204		$	1,629
Payments		(1,132	)		—			(1,132	)
Adjustments		344			(69	)		275
Balance at December 31, 2016	$	637		$	135		$	772
Balance at January 1, 2017	$	637		$	135		$	772
Payments		(554	)		(9	)		(563	)
Adjustments		(83	)		(126	)		(209	)
Balance at September 30, 2017	$	—		$	—		$	—

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Derivative Instruments

9 Months Ended

Sep. 30, 2017

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Instruments

9. Derivative Instruments

The Company has periodically used derivative instruments to manage risk from changes in market conditions that may affect the Company’s financial performance. The Company has primarily used derivative instruments to manage its primary market risks, which are interest rate risk and foreign currency exchange rate risk.

The Company has periodically used forward currency exchange contracts to minimize the effects of foreign currency risk in the United Kingdom. The forward currency exchange contracts are non-designated derivatives. Any gain or loss resulting from these contracts is recorded as income or loss and is included in “Foreign currency transaction gain” in the Company’s consolidated statements of income. As of September 30, 2017, the Company did not manage its exposure to risk from foreign currency exchange rate fluctuations through the use of forward currency exchange contracts in the United Kingdom or Brazil.

The Company had no outstanding derivative instruments as of September 30, 2017 and 2016 and December 31, 2016.

There were no effects of derivative instruments on the consolidated results of operations and accumulated other comprehensive income (“AOCI”) for the three months ended September 30, 2017 and 2016.

The following table presents information on the effect of derivative instruments on the consolidated results of operations and accumulated other comprehensive income for the nine months ended September 30, 2017 and 2016 (dollars in thousands):

	Gains (Losses)								Gains (Losses)
	Recognized in				Gains (Losses)				Reclassified From
	Income				Recognized in AOCI				AOCI into Income
	Nine Months Ended				Nine Months Ended				Nine Months Ended
	September 30,				September 30,				September 30,
	2017		2016		2017		2016		2017		2016
Non-designated derivatives:
Forward currency exchange contracts(1)	$	—	$	3,020	$	—	$	—	$	—	$	—
Total	$	—	$	3,020	$	—	$	—	$	—	$	—

(1) The gains (losses) on these derivatives substantially offset the (losses) gains on the economically hedged portion of the foreign intercompany balances.

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Related Party Transactions

9 Months Ended

Sep. 30, 2017

Related Party Transactions [Abstract]

Related Party Transactions

10. Related Party Transactions

A current officer of the Company has an ongoing ownership interest in the small business from which the Company acquired certain assets and assumed certain liabilities in June 2015 (see Note 2 for additional information). In the normal course of business, the Company attains certain customer relationships from the small business by entering into transactions with the customers to provide additional RPA financing. In these transactions, the Company satisfies the customer’s existing RPA balance with the small business which terminates such customer’s responsibilities to the small business. During the nine months ended September 30, 2017 the Company did not attain any relationships through these transactions with the small business. During the nine months ended September 30, 2016, the Company paid $0.4 million to the small business to satisfy customers’ existing RPA balances. Pursuant to the acquisition, a subsidiary of the Company issued a promissory note to the small business in the amount of $3.0 million (the “Promissory Note”) and granted the company an opportunity to earn certain contingent purchase consideration (see Note 2 for additional information), both of which are guaranteed by the Company. The Promissory Note accrues interest at a rate of 4.0% per annum and will mature on June 23, 2018. During the nine months ended September 30, 2017 and 2016, the Company incurred interest expense of $95 thousand and $91 thousand, respectively, related to the Promissory Note. In addition, as a condition precedent to the acquisition, a subsidiary of the Company executed a Transition Services Agreement with the small business from which the Company acquired certain assets whereby it agreed to provide certain transition services to the business for three years following the acquisition. During the nine months ended September 30, 2017 and 2016, the Company was paid $24 thousand and $27 thousand, respectively, for such services.

The Company and Cash America entered into an agreement in conjunction with the Spin-off for the Company to administer the consumer loan underwriting model utilized by Cash America’s Retail Services Division in exchange for a fee per transaction paid to the Company as well as the reimbursement of the Company’s direct third-party costs incurred in providing the service. The Company received $0.6 million and $0.7 million for the nine months ended September 30, 2017 and 2016, respectively, pursuant to this agreement.

Since May 30, 2014, amounts due from or due to Cash America or FirstCash have been settled a month in arrears. The balance due from FirstCash of $0.1 million as of September 30, 2017 and 2016 and December 31, 2016, respectively, is included in “Other receivables and prepaid expenses” in the consolidated balance sheets.

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Variable Interest Entities

9 Months Ended

Sep. 30, 2017

Variable Interest Entities [Abstract]

Variable Interest Entities

11. Variable Interest Entities

As part of the Company’s overall funding strategy and as part of its efforts to support its liquidity from sources other than its traditional capital market sources, the Company has established a securitization program through the 2016-1 and 2016-2 Securitization Facilities. The Company transferred certain consumer loan receivables to wholly owned, bankruptcy-remote special purpose subsidiaries (VIEs), which issue term notes backed by the underlying consumer loan receivables and are serviced by another wholly owned subsidiary.

The Company is required to evaluate the VIEs for consolidation. The Company has the ability to direct the activities of the VIEs that most significantly impact the economic performance of the entities as the servicer of the securitized loan receivables. Additionally, the Company has the right to receive residual payments, which expose it to potentially significant losses and returns. Accordingly, the Company determined it is the primary beneficiary of the VIEs and is required to consolidate them.

The assets and liabilities related to the VIEs are included in the Company’s consolidated financial statements and are accounted for as secured borrowings.

The Company parenthetically discloses on its consolidated balance sheets the VIE’s assets that can only be used to settle the VIE’s obligations and the VIE liabilities if the VIE’s creditors have no recourse against the Company’s general credit. The carrying amounts of consolidated VIE assets and liabilities associated with the Company’s securitization entities were as follows (dollars in thousands):

	September 30,				December 31,
	2017		2016		2016
Assets
Cash and cash equivalents	$	—	$	105	$	—
Restricted cash and cash equivalents		22,161		18,119		19,468
Loans and finance receivables, net		274,363		176,016		216,766
Other receivables and prepaid expenses		—		3		3
Other assets		2,056		—		2,459
Total assets	$	298,580	$	194,243	$	238,696
Liabilities
Accounts payable and accrued expenses	$	1,793	$	991	$	1,350
Long-term debt		185,771		134,537		163,550
Total liabilities	$	187,564	$	135,528	$	164,900

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Fair Value Measurements

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

12. Fair Value Measurements

Recurring Fair Value Measurements

In accordance with ASC 820, Fair Value Measurements and Disclosures, certain of the Company’s assets and liabilities, which are carried at fair value, are classified in one of the following three categories:

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.

During the nine months ended September 30, 2017 and 2016, there were no transfers of assets or liabilities in or out of Level 1, Level 2 or Level 3 fair value measurements. It is the Company’s policy to value any transfers between levels of the fair value hierarchy based on end of period fair values.

The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2017 and 2016 and December 31, 2016 are as follows (dollars in thousands):

	September 30,			Fair Value Measurements Using
	2017			Level 1		Level 2		Level 3
Financial assets (liabilities):
Non-qualified savings plan assets(1)	$	1,443		$	1,443	$	—	$	—
Contingent consideration		(2,358	)		—		—		(2,358	)
Total	$	(915	)	$	1,443	$	—	$	(2,358	)
	September 30,			Fair Value Measurements Using
	2016			Level 1		Level 2		Level 3
Financial assets (liabilities):
Non-qualified savings plan assets(1)	$	1,528		$	1,528	$	—	$	—
Contingent consideration		(5,658	)		—		—		(5,658	)
Total	$	(4,130	)	$	1,528	$	—	$	(5,658	)
	December 31,			Fair Value Measurements Using
	2016			Level 1		Level 2		Level 3
Financial assets (liabilities):
Non-qualified savings plan assets(1)	$	1,590		$	1,590	$	—	$	—
Contingent consideration		(2,358	)		—		—		(2,358	)
Total	$	(768	)	$	1,590	$	—	$	(2,358	)

(1) The non-qualified savings plan assets are included in “Other receivables and prepaid expenses” in the Company’s consolidated balance sheets and have an offsetting liability of equal amount, which is included in “Accounts payable and accrued expenses” in the Company’s consolidated balance sheets.

The Company determined the fair value of the liability for the contingent consideration based on a probability-weighted discounted cash flow analysis. This analysis reflects the contractual terms of the purchase agreement and utilizes assumptions with regard to future earnings, probabilities of achieving such future earnings, the timing of expected payments and a discount rate. Significant increases with respect to assumptions as to future earnings and probabilities of achieving such future earnings would result in a higher fair value measurement while an increase in the discount rate would result in a lower fair value measurement. The fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in the fair value hierarchy.

The changes in the fair value of the contingent consideration, which isa Level 3 liability measured at fair value on a recurring basis, are summarized in the tables below for the nine months ended September 30, 2017 and 2016 (dollars in thousands):

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Contingent consideration		Total
Balance at December 31, 2015	$	5,658	$	5,658
Adjustments		—		—
Balance at September 30, 2016	$	5,658	$	5,658

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Contingent consideration		Total
Balance at December 31, 2016	$	2,358	$	2,358
Adjustments		—		—
Balance at September 30, 2017	$	2,358	$	2,358

Fair Value Measurements on a Non-Recurring Basis

The Company measures non-financial assets and liabilities such as property and equipment and intangible assets at fair value on a non-recurring basis or when events or circumstances indicate that the carrying amount of the assets may be impaired. At September 30, 2017 and 2016 and December 31, 2016, there were no assets or liabilities recorded at fair value on a non-recurring basis.

Financial Assets and Liabilities Not Measured at Fair Value

The Company’s financial assets and liabilities as of September 30, 2017 and 2016 and December 31, 2016 that are not measured at fair value in the consolidated balance sheets are as follows (dollars in thousands):

	Balance at
	September 30,		Fair Value Measurements Using
	2017		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	110,054	$	110,054	$	—	$	—
Short-term loans and line of credit accounts, net (1)		176,437		—		—		176,437
Installment loans and RPAs, net (1)(4)		461,299		—		—		496,377
Restricted cash (5)		29,866		29,866		—		—
Investment in unconsolidated investee (2)(3)		6,703		—		—		6,703
Total	$	784,359	$	139,920	$	—	$	679,517
Financial liabilities:
Liability for estimated losses on consumer loans guaranteed by the Company	$	2,017	$	—	$	—	$	2,017
Promissory note		3,000		—		—		3,245
Securitization Notes		186,533		—		189,005		—
9.75% senior notes due 2021		342,407		—		363,796		—
8.50% senior notes due 2024		250,000		—		252,000		—
Total	$	783,957	$	—	$	804,801	$	5,262
	Balance at
	September 30,		Fair Value Measurements Using
	2016		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	45,681	$	45,681	$	—	$	—
Short-term loans and line of credit accounts, net (1)		147,992		—		—		147,992
Installment loans and RPAs, net (1)(4)		394,873		—		—		448,111
Restricted cash (5)		39,272		39,272		—		—
Investment in unconsolidated investee (2)(3)		6,703		—		—		6,703
Total	$	634,521	$	84,953	$	—	$	602,806
Financial liabilities:
Liability for estimated losses on consumer loans guaranteed by the Company	$	1,727	$	—	$	—	$	1,727
Promissory note		3,000		—		—		3,076
Credit agreement borrowings		15,000		—		—		15,000
Securitization Notes		136,953		—		139,911		—
9.75% senior notes due 2021		495,427		—		455,875		—
Total	$	652,107	$	—	$	595,786	$	19,803

	Balance at
	December 31,		Fair Value Measurements Using
	2016		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	39,934	$	39,934	$	—	$	—
Short-term loans and line of credit accounts, net (1)		162,824		—		—		162,824
Installment loans and RPAs, net (1)(4)		398,726		—		—		430,895
Restricted cash (5)		26,306		26,306		—		—
Investment in unconsolidated investee (2)(3)		6,703		—		—		6,703
Total	$	634,493	$	66,240	$	—	$	600,422
Financial liabilities:
Liability for estimated losses on consumer loans guaranteed by the Company	$	1,996	$	—	$	—	$	1,996
Promissory note		3,000		—		—		3,111
Securitization Notes		165,419		—		168,216		—
9.75% senior notes due 2021		495,622		—		495,940		—
Total	$	666,037	$	—	$	664,156	$	5,107

(1) Short-term loans, line of credit accounts, installment loans and RPAs are included in “Loans and finance receivables, net” in the consolidated balance sheets.

(2) Investment in unconsolidated investee is included in “Other assets” in the consolidated balance sheets.

(3) See Note 4 for additional information related to the investment in unconsolidated investee.

(4) Installment loan and RPAs, net include $274.4 million, $176.0 million and $216.8 million in net assets of consolidated VIEs as of September 30, 2017 and 2016 and December 31, 2016, respectively.

(5) Restricted cash includes $22.2 million, $18.1 million and $19.5 million in assets of consolidated VIEs as of September 30, 2017 and 2016 and December 31, 2016, respectively.

Cash and cash equivalents and restricted cash bear interest at market rates and have original maturities of less than 90 days. The carrying amount of restricted cash and cash equivalents approximates fair value.

Short-term loans, line of credit accounts, installment loans and RPAs are carried in the consolidated balance sheet net of the allowance for estimated losses, which is calculated by applying historical loss rates combined with recent default trends to the gross receivable balance. Short-term loans and line of credit accounts have relatively short maturity periods that are generally 12 months or less. The unobservable inputs used to calculate the fair value of these receivables include historical loss rates, recent default trends and estimated remaining loan term; therefore, the carrying value approximates the fair value. The fair value of installment loans and RPAs is estimated using discounted cash flow analyses, which consider interest rates on loans and discounts offered for receivables with similar terms to customers with similar credit quality, the timing of expected payments, estimated customer default rates and/or valuations of comparable portfolios. As of September 30, 2017 and 2016 and December 31, 2016, the fair value of the Company’s installment loans and RPAs was greater than the carrying value of these loans and finance receivables. Unsecured installment loans typically have terms between two and 60 months. RPAs typically have estimated delivery terms between six and 18 months.

The Company measures the fair value of its investment in unconsolidated investee using Level 3 inputs. Because the unconsolidated investee is a private company and financial information is limited, the Company estimates the fair value based on the best available information at the measurement date. As of September 30, 2017 and 2016 and December 31, 2016 the Company estimated the fair value of its investment to be approximately equal to the book value.

In connection with its CSO programs, the Company guarantees consumer loan payment obligations to unrelated third-party lenders for short-term and installment loans the Company arranges for consumers on the third-party lenders’ behalf and is required to purchase any defaulted loans it has guaranteed. The estimated fair value of the liability for estimated losses on consumer loans guaranteed by the Company was $2.0 million, $1.7 million and $2.0 million as of September 30, 2017 and 2016 and December 31, 2016, respectively. The Company measures the fair value of its liability for third-party lender-owned consumer loans under Level 3 inputs. The fair value of these liabilities is calculated by applying historical loss rates combined with recent default trends to the gross consumer loan balance. The unobservable inputs used to calculate the fair value of these loans include historical loss rates, recent default trends and estimated remaining loan terms; therefore, the carrying value of these liabilities approximates the fair value.

The Company measures the fair value of the Promissory Note using Level 3 inputs. The fair value of the Promissory Note is estimated using a discounted cash flow analysis. As of September 30, 2017 and 2016 and December 31, 2016, the Promissory Note had a higher fair value than the carrying value.

The Company measures the fair value of its Securitization Notes using Level 2 inputs. The fair value of the Company’s Securitization Notes is estimated based on quoted prices in markets that are not active. As of September 30, 2017 and 2016 and December 31, 2016, the Company’s Securitization Notes had a higher fair value than the carrying value.

The Company measures the fair value of its 9.75% senior notes due 2021 using Level 2 inputs. The fair value of the Company’s 9.75% senior notes due 2021 is estimated based on quoted prices in markets that are not active. As of September 30, 2017 and December 31, 2016, the Company’s 9.75% senior notes due 2021 had a higher fair value than the carrying value. As of September 30, 2016, the fair value of the Company’s 9.75% senior notes due 2021 was lower than the carrying value.

The Company measures the fair value of its 8.50% senior notes due 2024 using Level 2 inputs. The fair value of the Company’s 8.50% senior notes due 2024 is estimated based on quoted prices in markets that are not active. As of September 30, 2017 the Company’s 8.50% senior notes due 2024 had a higher fair value than the carrying value.

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Condensed Consolidating Financial Statements

9 Months Ended

Sep. 30, 2017

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Financial Statements

13. Condensed Consolidating Financial Statements

The Company’s Senior Notes are unconditionally guaranteed by certain of the Company’s subsidiaries (the “Guarantor Subsidiaries”) and are not secured by its other subsidiaries (the “Non-Guarantor Subsidiaries”). The Guarantor Subsidiaries are 100% owned, all guarantees are full and unconditional, and all guarantees are joint and several. As a result of the guarantee arrangements, the Company is required, in accordance with Rule 3-10 of Regulation S-X, to present the following condensed consolidating financial statements.

The condensed consolidating financial statements reflect the investments in subsidiaries of the Company using the equity method of accounting. The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions. Condensed consolidating financial statements of Enova International, Inc. (the “Parent”), its Guarantor Subsidiaries and Non-Guarantor Subsidiaries as of September 30, 2017 and 2016 and December 31, 2016 and for the periods ended September 30, 2017 and 2016 are shown on the following pages.

CONDENSED CONSOLIDATING BALANCE SHEETS

As of September 30, 2017

(dollars in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	54,055		$	50,996		$	5,003		$	—		$	110,054
Restricted cash		—			7,705			22,161			—			29,866
Loans and finance receivables, net		—			351,627			286,109			—			637,736
Income taxes receivable		105,140			(95,852	)		31			—			9,319
Other receivables and prepaid expenses		245			21,271			2,280			—			23,796
Property and equipment, net		—			45,925			632			—			46,557
Goodwill		—			267,015			—			—			267,015
Intangible assets, net		—			4,593			—			—			4,593
Investment in subsidiaries		362,991			45,924			—			(408,915	)		—
Intercompany receivable		343,514			—			—			(343,514	)		—
Other assets		1,826			6,960			2,056			—			10,842
Total assets	$	867,771		$	706,164		$	318,272		$	(752,429	)	$	1,139,778
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	$	13,795		$	62,348		$	2,754		$	—		$	78,897
Intercompany payables		—			252,154			91,360			(343,514	)		—
Deferred tax liabilities, net		(453	)		21,634			(500	)		—			20,681
Long-term debt		579,624			—			185,771			—			765,395
Total liabilities		592,966			336,136			279,385			(343,514	)		864,973
Commitments and contingencies
Stockholders' equity		274,805			370,028			38,887			(408,915	)		274,805
Total liabilities and stockholders' equity	$	867,771		$	706,164		$	318,272		$	(752,429	)	$	1,139,778

CONDENSED CONSOLIDATING BALANCE SHEETS

As of September 30, 2016

(dollars in thousands)

				Guarantor		Non-Guarantor
	Parent			Subsidiaries		Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	43,127	$	2,554		$	—		$	45,681
Restricted cash		—			21,152		18,120			—			39,272
Loans and finance receivables, net		—			358,142		184,723			—			542,865
Income taxes receivable		—			—		—			—			—
Other receivables and prepaid expenses		141			18,222		286			—			18,649
Property and equipment, net		—			47,050		436			—			47,486
Goodwill		—			267,012		—			—			267,012
Intangible assets, net		—			5,670		5			—			5,675
Investment in subsidiaries		278,999			22,358		—			(301,357	)		—
Intercompany receivable		413,472			—		—			(413,472	)		—
Other assets		460			7,979		—			—			8,439
Total assets	$	693,072		$	790,712	$	206,124		$	(714,829	)	$	975,079
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	$	16,386		$	67,931	$	1,116		$	—		$	85,433
Intercompany payables		—			357,650		55,826			(413,476	)		—
Income taxes currently payable		(56,364	)		61,521		(8	)		—			5,149
Deferred tax liabilities, net		(677	)		17,394		(484	)		—			16,233
Long-term debt		500,642			—		134,537			—			635,179
Total liabilities		459,987			504,496		190,987			(413,476	)		741,994
Commitments and contingencies
Stockholders' equity		233,085			286,216		15,137			(301,353	)		233,085
Total liabilities and stockholders' equity	$	693,072		$	790,712	$	206,124		$	(714,829	)	$	975,079

CONDENSED CONSOLIDATING BALANCE SHEETS

As of December 31, 2016

(dollars in thousands)

				Guarantor		Non-Guarantor
	Parent			Subsidiaries		Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	36,057	$	3,877		$	—		$	39,934
Restricted cash		—			6,838		19,468			—			26,306
Loans and finance receivables, net		—			335,160		226,390			—			561,550
Other receivables and prepaid expenses		127			19,095		302			—			19,524
Property and equipment, net		—			46,507		593			—			47,100
Goodwill		—			267,010		—			—			267,010
Intangible assets, net		—			5,400		4			—			5,404
Investment in subsidiaries		294,646			25,131		—			(319,777	)		—
Intercompany receivable		363,942			—		—			(363,942	)		—
Other assets		597			7,995		2,459			—			11,051
Total assets	$	659,312		$	749,193	$	253,093		$	(683,719	)	$	977,879
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	$	4,310		$	65,714	$	1,647		$	—		$	71,671
Intercompany payables		—			295,763		68,179			(363,942	)		—
Income taxes currently payable		(72,704	)		73,006		(20	)		—			282
Deferred tax liabilities, net		(354	)		15,156		(486	)		—			14,316
Long-term debt		486,361			—		163,550			—			649,911
Total liabilities		417,613			449,639		232,870			(363,942	)		736,180
Commitments and contingencies
Stockholders' equity		241,699			299,554		20,223			(319,777	)		241,699
Total liabilities and stockholders' equity	$	659,312		$	749,193	$	253,093		$	(683,719	)	$	977,879

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2017

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	178,908		$	40,374		$	(1,404	)	$	217,878
Cost of Revenue		—			79,349			27,992			—			107,341
Gross Profit		—			99,559			12,382			(1,404	)		110,537
Expenses
Marketing		—			26,423			577			—			27,000
Operations and technology		—			22,911			4,252			—			27,163
General and administrative		131			25,746			691			(1,404	)		25,164
Depreciation and amortization		—			3,486			47			—			3,533
Total Expenses		131			78,566			5,567			(1,404	)		82,860
(Loss) Income from Operations		(131	)		20,993			6,815			—			27,677
Interest expense, net		(14,238	)		(33	)		(4,021	)		—			(18,292	)
Foreign currency transaction gain		65			—			—			—			65
Loss on early extinguishment of debt		(14,927	)		—			—			—			(14,927	)
(Loss) Income before Income Taxes and Equity in Net Earnings of Subsidiaries		(29,231	)		20,960			2,794			—			(5,477	)
(Benefit from) provision for income taxes		(9,760	)		6,746			905			—			(2,109	)
(Loss) Income before Equity in Net Earnings of Subsidiaries		(19,471	)		14,214			1,889			—			(3,368	)
Net earnings of subsidiaries		16,103			1,889			—			(17,992	)		—
Net (Loss) Income	$	(3,368	)	$	16,103		$	1,889		$	(17,992	)	$	(3,368	)
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)		2,052			1,304			749			(2,053	)		2,052
Total other comprehensive gain (loss), net of tax		2,052			1,304			749			(2,053	)		2,052
Comprehensive (Loss) Income	$	(1,316	)	$	17,407		$	2,638		$	(20,045	)	$	(1,316	)

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2016

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	170,288		$	24,157		$	1,498		$	195,943
Cost of Revenue		—			78,283			17,108			—			95,391
Gross Profit		—			92,005			7,049			1,498			100,552
Expenses
Marketing		—			26,348			374			—			26,722
Operations and technology		—			19,505			1,132			—			20,637
General and administrative		37			18,539			1,233			1,498			21,307
Depreciation and amortization		—			3,761			28			—			3,789
Total Expenses		37			68,153			2,767			1,498			72,455
(Loss) Income from Operations		(37	)		23,852			4,282			—			28,097
Interest expense, net		(13,342	)		(123	)		(2,652	)		—			(16,117	)
Foreign currency transaction gain		145			—			—			—			145
(Loss) Income before Income Taxes and Equity in Net Earnings of Subsidiaries		(13,234	)		23,729			1,630			—			12,125
(Benefit from) provision for income taxes		(4,832	)		8,451			669			—			4,288
(Loss) Income before Equity in Net Earnings of Subsidiaries		(8,402	)		15,278			961			—			7,837
Net earnings of subsidiaries		16,239			961			—			(17,200	)		—
Net Income (Loss)	$	7,837		$	16,239		$	961		$	(17,200	)	$	7,837
Other comprehensive (loss) gain, net of tax:
Foreign currency translation (loss) gain		(1,245	)		(1,084	)		(160	)		1,244			(1,245	)
Total other comprehensive (loss) gain, net of tax		(1,245	)		(1,084	)		(160	)		1,244			(1,245	)
Comprehensive Income (Loss)	$	6,592		$	15,155		$	801		$	(15,956	)	$	6,592

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2017

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	497,081		$	106,902		$	(3,938	)	$	600,045
Cost of Revenue		—			197,281			71,806			—			269,087
Gross Profit		—			299,800			35,096			(3,938	)		330,958
Expenses
Marketing		—			68,686			1,307			—			69,993
Operations and technology		—			65,090			7,422			—			72,512
General and administrative		265			76,060			4,718			(3,938	)		77,105
Depreciation and amortization		—			10,261			135			—			10,396
Total Expenses		265			220,097			13,582			(3,938	)		230,006
(Loss) Income from Operations		(265	)		79,703			21,514			—			100,952
Interest expense, net		(40,780	)		(97	)		(11,649	)		—			(52,526	)
Foreign currency transaction gain		349			5			—			—			354
Loss on early extinguishment of debt		(14,927	)		—			—			—			(14,927	)
(Loss) Income before Income Taxes and Equity in Net Earnings of Subsidiaries		(55,623	)		79,611			9,865			—			33,853
(Benefit from) provision for income taxes		(18,889	)		27,034			3,351			—			11,496
(Loss) Income before Equity in Net Earnings of Subsidiaries		(36,734	)		52,577			6,514			—			22,357
Net earnings of subsidiaries		59,091			6,514			—			(65,605	)		—
Net Income (Loss)	$	22,357		$	59,091		$	6,514		$	(65,605	)	$	22,357
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)		4,561			4,197			365			(4,562	)		4,561
Total other comprehensive gain (loss), net of tax		4,561			4,197			365			(4,562	)		4,561
Comprehensive Income (Loss)	$	26,918		$	63,288		$	6,879		$	(70,167	)	$	26,918

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2016

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	478,434		$	64,697		$	—		$	543,131
Cost of Revenue		—			182,729			47,692			—			230,421
Gross Profit		—			295,705			17,005			—			312,710
Expenses
Marketing		—			72,488			1,012			—			73,500
Operations and technology		—			58,642			3,064			—			61,706
General and administrative		185			72,867			3,695			—			76,747
Depreciation and amortization		—			11,936			68			—			12,004
Total Expenses		185			215,933			7,839			—			223,957
(Loss) Income from Operations		(185	)		79,772			9,166			—			88,753
Interest (expense) income, net		(39,793	)		613			(8,878	)		—			(48,058	)
Foreign currency transaction gain		2,184			—			—			—			2,184
(Loss) Income before Income Taxes and Equity in Net Earnings of Subsidiaries		(37,794	)		80,385			288			—			42,879
(Benefit from) provision for income taxes		(14,977	)		31,853			115			—			16,991
(Loss) Income before Equity in Net Earnings of Subsidiaries		(22,817	)		48,532			173			—			25,888
Net earnings of subsidiaries		48,705			173			—			(48,878	)		—
Net Income (Loss)	$	25,888		$	48,705		$	173		$	(48,878	)	$	25,888
Other comprehensive (loss) gain, net of tax:
Foreign currency translation (loss) gain		(5,070	)		(6,342	)		1,270			5,072			(5,070	)
Total other comprehensive (loss) gain, net of tax		(5,070	)		(6,342	)		1,270			5,072			(5,070	)
Comprehensive Income (Loss)	$	20,818		$	42,363		$	1,443		$	(43,806	)	$	20,818

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Nine Months Ended September 30, 2017

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash Flows from Operating Activities	$	(17,931	)	$	346,948		$	(8,712	)	$	(9,008	)	$	311,297
Cash Flows from Investing Activities
Loans and finance receivables originated or acquired		—			(974,211	)		(24,122	)		—			(998,333	)
Securitized loans transferred		—			201,518			(201,518	)		—			—
Loans and finance receivables repaid		—			467,011			205,463			—			672,474
Change in restricted cash		—			(337	)		(2,693	)		—			(3,030	)
Purchases of property and equipment		—			(10,651	)		(153	)		—			(10,804	)
Capital contributions to subsidiaries		—			(11,785	)		—			11,785			—
Other investing activities		—			1,798			—			—			1,798
Net cash (used in) provided by investing activities		—			(326,657	)		(23,023	)		11,785			(337,895	)
Cash Flows from Financing Activities
(Payments for) proceeds from member's equity		—			(9,008	)		11,785			(2,777	)		—
Debt issuance costs paid		(9,564	)		—			—			—			(9,564	)
Debt prepayment penalty		(11,335	)		—			—			—			(11,335	)
Treasury shares purchased		(2,115	)		—			—			—			(2,115	)
Issuance of Senior Notes		250,000			—			—			—			250,000
Repayments of Senior Notes		(155,000	)		—			—			—			(155,000	)
Borrowings under revolving line of credit		30,000			—			—			—			30,000
Repayments under revolving line of credit, net		(30,000	)		—			—			—			(30,000	)
Borrowings under securitization facility		—			—			137,200			—			137,200
Repayments under securitization facility		—			—			(116,085	)		—			(116,085	)
Net cash provided by (used in) financing activities		71,986			(9,008	)		32,900			(2,777	)		93,101
Effect of exchange rates on cash		—			3,656			(39	)		—			3,617
Net increase in cash and cash equivalents		54,055			14,939			1,126			—			70,120
Cash and cash equivalents at beginning of year		—			36,057			3,877			—			39,934
Cash and cash equivalents at end of period	$	54,055		$	50,996		$	5,003		$	—		$	110,054

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Nine Months Ended September 30, 2016

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash Flows from Operating Activities	$	87,477		$	216,799		$	40,569		$	(44,138	)	$	300,707
Cash Flows from Investing Activities
Loans and finance receivables originated or acquired		—			(976,614	)		(10,641	)		—			(987,255	)
Securitized loans transferred		—			278,076			(278,076	)		—			—
Loans and finance receivables repaid		—			525,636			126,229			—			651,865
Change in restricted cash		—			(14,656	)		(18,120	)		—			(32,776	)
Purchases of property and equipment		—			(11,262	)		(204	)		—			(11,466	)
Capital contributions to subsidiaries		(43,962	)		(8,005	)		—			51,967			—
Other investing activities		—			72			—			—			72
Net cash (used in) provided by investing activities		(43,962	)		(206,753	)		(180,812	)		51,967			(379,560	)
Cash Flows from Financing Activities
(Payments for) proceeds from member's equity		—			(176	)		8,005			(7,829	)		—
Debt issuance costs paid		—			—			(3,516	)		—			(3,516	)
Treasury shares purchased		(115	)		—			—			—			(115	)
Borrowings under revolving line of credit		45,000			—			—			—			45,000
Repayments under revolving line of credit		(88,400	)		—			—			—			(88,400	)
Borrowings under securitization facility		—			—			218,961			—			218,961
Repayments under securitization facility		—			—			(82,008	)		—			(82,008	)
Net cash (used in) provided by financing activities		(43,515	)		(176	)		141,442			(7,829	)		89,922
Effect of exchange rates on cash		—			(7,670	)		216			—			(7,454	)
Net increase in cash and cash equivalents		—			2,200			1,415			—			3,615
Cash and cash equivalents at beginning of year		—			40,927			1,139			—			42,066
Cash and cash equivalents at end of period	$	—		$	43,127		$	2,554		$	—		$	45,681

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Subsequent Events

9 Months Ended

Sep. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

14. Subsequent Events

Subsequent events have been reviewed through the date these financial statements were available to be issued.

Amendment of 2016-1 Securitization Facility

On October 20, 2017, the Company and certain of its subsidiaries amended and restated the 2016‑1 Securitization Facility (the “Amended Facility”). The counterparties to the Amended Facility included certain purchasers, the Administrative Agent and the Indenture Trustee. The Amended Facility relates to Receivables that have been and will be originated or acquired under the Company’s NetCredit brand by the Originators and that meet specified eligibility criteria. Under the Amended Facility, additional Receivables may be sold to the Issuer and serviced by another subsidiary of the Company.As of the Closing Date, the Issuer owned eligible Receivables with an outstanding principal balance equal to $226.4 million.

In connection with the amendment and restatement, all of the outstanding notes issued by the Issuer prior to the Closing Date were redeemed and the Issuer issued an initial term note with an initial principal amount of $181.1 million (the “2017 Initial Term Note”) and variable funding notes (the “2017 Variable Funding Notes”) with an aggregate committed availability of $75 million per quarter with an option to increase the commitment to $90 million with the consent of the holders of the 2017 Variable Funding Notes. As described below, the Issuer will subsequently issue term notes (the “2017 Term Notes”) and, together with the 2017 Initial Term Note and the 2017 Variable Funding Notes, (the “2017 Securitization Notes”) at the end of each calendar quarter. The maximum principal amount of the 2017 Securitization Notes that may be outstanding at any time under the Amended Facility is $275 million.

On each of January 2, 2018, April 2, 2018, July 2, 2018, October 1, 2018, December 31, 2018 and April 1, 2019, the Receivables financed under the 2017 Variable Funding Notes will be allocated to a 2017 Term Note, which 2017 Term Note will be issued to the holders of the 2017 Variable Funding Notes and the 2017 Variable Funding Note on such date will be reduced to zero. The 2017 Securitization Notes are non-recourse to the Company and mature at various dates, the latest of which will be April 15, 2021 (the “2017 Final Maturity Date”).

The 2017 Securitization Notes are issued pursuant to an amended and restated indenture, dated as of the Closing Date, between the Issuer and the Indenture Trustee. The 2017 Securitization Notes bear interest at a rate per annum equal to One-Month LIBOR (subject to a floor) plus 7.50%. In addition, the Issuer paid certain customary upfront closing fees to the Administrative Agent and will pay customary annual commitment and other fees to the purchasers under the Amended Facility. Subject to certain exceptions, the Issuer is not permitted to prepay or redeem any of the 2017 Securitization Notes prior to April 15, 2019 except for a one-time prepayment of the 2017 Securitization Notes related to a removal of Receivables in an amount no greater than $100 million. Following such date, the Issuer is permitted to voluntarily prepay any of the 2017 Securitization Notes, subject to an optional redemption premium. Interest and principal payments on the 2017 Securitization Notes will be made monthly. Any remaining amounts outstanding will be payable no later than the 2017 Final Maturity Date.

All amounts due under the 2017 Securitization Notes are secured by all of the Issuer’s assets, which include the Receivables transferred to the Issuer, related rights under the Receivables, specified bank accounts and certain other related collateral.

The Amended Facility documents contain customary provisions for securitizations, including: representations and warranties as to the eligibility of the Receivables and other matters; indemnification for specified losses not including losses due to the inability of consumers to repay their loans; covenants regarding special purpose entity matters and other subjects; and default and termination provisions which provide for the acceleration of the 2017 Securitization Notes under the Amended Facility in circumstances including, but not limited to, failure to make payments when due, servicer defaults, certain insolvency events, breaches of representations, warranties or covenants, failure to maintain the security interest in the receivables, and defaults under other material indebtedness.

On October 26, 2017, the Issuer and the Indenture Trustee amended the Amended Facility to permit a holder of a 2017 Term Note or the 2017 Initial Term Note to exchange its notes for notes with an alternative structure with terms not materially different to the Issuer than the exchanged Term Notes or Initial Term Notes.

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Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

On September 7, 2011, Cash America International, Inc. (“Cash America,” now known as FirstCash, Inc. due to its merger with First Cash Financial Services, Inc. on September 1, 2016), formed a new company, Enova International, Inc. (the “Company”). On September 13, 2011, Cash America contributed to the Company all of the stock of its wholly-owned subsidiary, Enova Online Services, Inc., in exchange for 33 million shares of the Company’s common stock. The Company became an independent, publicly traded company on November 13, 2014 when Cash America completed the tax-free spin-off of approximately 80% of the outstanding shares of the Company to holders of Cash America’s common stock (the “Spin-off”). Cash America (and then First Cash) retained approximately 20% of the Company’s stock but completed the sale of its entire holding in the Company as of December 6, 2016. The consolidated financial statements of the Company reflect the historical results of operations and cash flows of the Company during each respective period. The financial statements include goodwill and intangible assets arising from businesses previously acquired.

The Company operates an internet-based lending platform to serve customers in need of cash to fulfill their financial responsibilities. Through a network of direct and indirect marketing channels, the Company offers funds to its customers through a variety of unsecured loan and finance receivable products. The business is operated primarily through the internet to provide convenient, fully-automated financial solutions to its customers. The Company originates, arranges, guarantees or purchases consumer loans and provides financing to small businesses through a line of credit account, installment loan or receivables purchase agreement product (“RPAs”). Consumer loans include short-term loans, line of credit accounts and installment loans. RPAs represent a right to receive future receivables from a small business. “Loans and finance receivables” include consumer loans, small business lines of credit, small business installment loans and RPAs.

The Company consolidates any variable interest entity (“VIE”) where it has been determined it is the primary beneficiary. The primary beneficiary is the entity which has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance as well as the obligation to absorb losses or receive benefits of the entity that could potentially be significant to the VIE.

The financial statements presented as of September 30, 2017 and 2016 and for the three and nine-month periods ended September 30, 2017 and 2016 are unaudited but, in management’s opinion, include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for such interim periods. Operating results for three and nine-month periods are not necessarily indicative of the results that may be expected for the full fiscal year.

These financial statements and related notes should be read in conjunction with the Company’s audited consolidated financial statements as of December 31, 2016 and 2015 and for the years ended December 31, 2016, 2015 and 2014 and related notes, which are included on Form 10-K filed with the SEC on February 24, 2017.

Restricted Cash

Restricted Cash

The Company includes funds to be used for future debt payments relating to its securitization transactions and escrow deposits in restricted cash and cash equivalents.

Revenue Recognition

Revenue Recognition

The Company recognizes revenue based on the financing products and services it offers and on loans it acquires. “Revenue” in the consolidated statements of income includes: interest income, finance charges, fees for services provided through the Company’s credit services organization and credit access business programs (“CSO programs”) (“CSO fees”), revenue on RPAs, service charges, draw fees, minimum billing fees, purchase fees, late fees and non-sufficient funds fees as permitted by applicable laws and pursuant to the agreement with the customer. For short-term loans that the Company offers, interest and finance charges are recognized on an effective yield basis over the term of the loan. For line of credit accounts, interest is recognized over the reporting period based upon the balance outstanding and the contractual interest rate, draw fees are recognized on an effective yield basis over the estimated outstanding period of the draw, and minimum billing fees are recognized when assessed to the customer. For installment loans, interest is recognized on an effective yield basis over the term of the loan. For RPAs, revenue and purchase fees are recognized on an effective yield basis over the projected delivery term of the agreements and fees are recognized when assessed. CSO fees are recognized on an effective yield basis over the term of the loan. Late and nonsufficient funds fees are recognized when assessed to the customer. Direct costs associated with originating loans and purchasing RPAs, such as third-party customer acquisition costs, are deferred and amortized against revenue on an effective yield basis over the term of the loan or the projected delivery term of the finance receivable. Short-term loans, line of credit accounts, installment loans, RPAs, unpaid and accrued interest, fees and revenue and deferred origination costs are included in “Loans and finance receivables, net” in the consolidated balance sheets.

Goodwill

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. In accordance with Accounting Standards Codification (“ASC”) 350, Goodwill, the Company tests goodwill and intangible assets with an indefinite life for potential impairment annually as of June 30 and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value below its carrying amount.

The Company first assesses qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. In assessing the qualitative factors, management considers relevant events and circumstances including but not limited to macroeconomic conditions, industry and market environment, overall financial performance of the Company, cash flow from operating activities, market capitalization and stock price. If the Company determines that the two-step quantitative impairment test is required, management uses the income approach to complete its annual goodwill assessment. The income approach uses future cash flows and estimated terminal values for the Company that are discounted using a market participant perspective to determine the fair value, which is then compared to the carrying value to determine if there is impairment. The income approach includes assumptions about revenue growth rates, operating margins and terminal growth rates discounted by an estimated weighted-average cost of capital derived from other publicly-traded companies that are similar but not identical from an operational and economic standpoint. The Company completed its annual assessment of goodwill as of June 30, 2017 based on qualitative factors and determined that the fair value of its goodwill exceeded carrying value, and, as a result, no impairment existed at that date. Although no goodwill impairment was noted, there can be no assurances that future goodwill impairments will not occur.

Adopted Accounting Standards

AdoptedAccounting Standards

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). The amendments in ASU 2016-09 simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company adopted ASU 2016-09 on January 1, 2017. The adoption of ASU 2016-09 did not have a material impact on the Company’s financial statements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) (“ASU 2016-15”). The amendments in ASU 2016-15 provide guidance on eight specific cash flow issues, including debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination, distributions received from equity method investees and beneficial interests in securitization transactions. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company adopted ASU 2016-15 on July 1, 2017. The adoption of ASU 2016-15 did not have a material impact on the Company’s financial statements.

Accounting Standards to be Adopted in Future Periods

In May 2017, the FASB issued ASU 2017-09, Compensation–Stock Compensation (Topic 718): Scope of Modification Accounting (“ASU 2017-09”) clarifying when a change to the terms or conditions of a share-based payment award must be accounted for as a modification. The new guidance requires modification accounting if the fair value, vesting condition or the classification of the award is not the same immediately before and after a change to the terms and conditions of the award. The new guidance is effective on a prospective basis for annual periods beginning after December 15, 2016, and interim periods within those annual periods, with early adoption permitted. The adoption of ASU 2017-09 is not expected to have a material impact on the Company’s financial statements.

In January 2017, the FASB issued ASU 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (“ASU 2017-05”) to clarify the scope of Subtopic 610-20, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets, and to add guidance for partial sales of nonfinancial assets. ASU 2017-05 is effective at the same time as the amendments in ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). Therefore, for public entities, the amendments are effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. The Company does not expect that the adoption of ASU 2017-05 will have a material effect on its consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment (“ASU 2017-04”) to simplify the accounting for goodwill impairment. ASU 2017-04 removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company does not expect that the adoption of ASU 2017-04 will have a material effect on its consolidated financial statements.

In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) – Clarifying the Definition of a Business (“ASU 2017-01”). ASU 2017-01 provides a screen to determine when an asset or group of assets acquired is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. ASU 2017-01 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. The Company does not expect that the adoption of ASU 2017-01 will have a material effect on its consolidated financial statements.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash (“ASU 2016-18”). ASU 2016-18 clarifies certain existing principles in ASC 230, Statement of Cash Flows, including providing additional guidance related to transfers between cash and restricted cash and how entities present, in their statement of cash flows, the cash receipts and cash payments that directly affect the restricted cash accounts. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The adoption of ASU 2016-18 will modify the Company's current disclosures and classifications within the consolidated statement of cash flows but it is not expected to have a material effect on the Company’s consolidated financial statements.

In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (“ASU 2016-16”), which requires entities to recognize the income tax impact of an intra-entity sale or transfer of an asset other than inventory when the sale or transfer occurs, rather than when the asset has been sold to an outside party. ASU 2016-16 is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. Early adoption is permitted. The Company does not expect that the adoption of ASU 2016-16 will have a material effect on its consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016‑13”). The amendments in ASU 2016‑13 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. ASU 2016‑13 is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods within those fiscal years. The Company is assessing the impact of ASU 2016‑13, which at the date of adoption will increase the allowance for credit losses with a resulting negative adjustment to retained earnings.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 requires lessee recognition on the balance sheet of a right-of-use asset and a lease liability, initially measured at the present value of the lease payments. It further requires recognition in the income statement of a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis. Finally, it requires classification of all cash payments within operating activities in the statement of cash flows. ASU 2016-02 is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2018. Early adoption is permitted for all entities upon issuance. Upon adoption of ASU 2016-02, the Company expects to report higher assets and liabilities as a result of including additional leases on the consolidated balance sheet. The Company does not expect the adoption of ASU 2016-02 to have a material impact on the consolidated statements of income or the consolidated statements of stockholders' equity.

In January 2016, the FASB issued ASU 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016‑01”), which requires that equity investments, except for those accounted for under the equity method or those that result in consolidation of the investee, be measured at fair value, with subsequent changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. ASU 2016-01 also impacts the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted only for certain provisions. The Company does not expect that the adoption of ASU 2016-01 will have a material effect on its consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. 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. In August 2015, the FASB issued ASU No. 2015-14, Deferral of the Effective Date, deferring the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017. In March 2016, the FASB issued ASU 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net), to clarify revenue recognition accounting when a third party is involved in providing goods or services to a customer. In April 2016, the FASB issued ASU 2016-10, Identifying Performance Obligations and Licensing, to clarify the implementation guidance on identifying performance obligations and licensing. Early adoption of ASU 2016‑10 is permitted only as of an annual reporting period beginning after December 15, 2016. In May 2016, the FASB issued ASU 2016-12, Narrow-Scope Improvements and Practical Expedients, to reduce the risk of diversity in practice for certain aspects in ASU 2014-09, including collectibility, noncash consideration, presentation of sales tax and transition. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers, which clarifies the guidance in Topic 606 on assessing certain aspects of the new revenue standard. The Company plans to adopt the revenue recognition guidance in the first quarter of 2018 using the modified retrospective method of adoption. The Company has completed its initial assessment of the guidance and determined its loan and finance receivables are excluded from the scope of ASU 2014-09. As a result of this scope exception, the Company has concluded the impact to the consolidated financial statements will not be material in the period of adoption and in future periods. The Company is finalizing its assessment of ASU 2014-09 and the impact on its financial statement disclosures.

Out-of-Period Adjustment

Out-of-Period Adjustment

In a review of marketing expenses related to the origination of loans, the Company determined during the quarter that certain amounts should be deferred over the life the corresponding loans. The Company recorded a reduction to revenue and marketing expense of $0.7 million and $1.9 million, respectively, in the third quarter of 2017 as an out-of-period adjustment related to amounts from prior periods previously recognized as expense. The Company believes this adjustment was not material to the current period or any previously issued financial statements.

Current and Delinquent Loans and Finance Receivables

Current and Delinquent Loans and Finance Receivables

The Company classifies its loans and finance receivables as either current or delinquent. Short-term loans are considered delinquent when payment of an amount due is not made as of the due date. If a line of credit account or installment loan customer misses one payment, that payment is considered delinquent and the balance of the loan is considered current. If a line of credit account or installment loan customer does not make two consecutive payments, the entire account or loan is classified as delinquent and placed on a non-accrual status. The Company allows for normal payment processing time before considering a loan delinquent but does not provide for any additional grace period.

The Company does not accrue interest on delinquent loans and does not resume accrual of interest on a delinquent loan unless it is returned to current status. In addition, delinquent loans generally may not be renewed, and if, during its attempt to collect on a delinquent loan, the Company allows additional time for payment through a payment plan or a promise to pay, it is still considered delinquent. Generally, all payments received are first applied against accrued but unpaid interest and fees and then against the principal balance of the loan.

Allowance and Liability for Estimated Losses on Loans and Finance Receivables

Allowance and Liability for Estimated Losses on Loans and Finance Receivables

The Company monitors the performance of its loan and finance receivable portfolios and maintains either an allowance or liability for estimated losses on loans and finance receivables (including revenue, fees and/or interest) at a level estimated to be adequate to absorb losses inherent in the portfolio. The allowance for losses on the Company’s owned loans and finance receivables reduces the outstanding loans and finance receivables balance in the consolidated balance sheets. The liability for estimated losses related to loans guaranteed under its CSO programs is initially recorded at fair value and is included in “Accounts payable and accrued expenses” in the consolidated balance sheets.

In determining the allowance or liability for estimated losses on loans and finance receivables, the Company applies a documented systematic methodology. In calculating the allowance or liability for receivable losses, outstanding loans and finance receivables are divided into discrete groups of short-term loans, line of credit accounts, installment loans and RPAs and are analyzed as current or delinquent. Increases in either the allowance or the liability, net of charge-offs and recoveries, are recorded as a “Cost of revenue” in the consolidated statements of income.

The allowance or liability for short-term loans classified as current is based on historical loss rates adjusted for recent default trends for current loans. For delinquent short-term loans, the allowance or liability is based on a six-month rolling average of loss rates by stage of collection. For line of credit account, installment loan and RPA portfolios, the Company generally uses either a migration analysis or roll-rate based methodology to estimate losses inherent in the portfolio. The allowance or liability calculation under the migration analysis and roll-rate methodology is based on historical charge-off experience and the loss emergence period, which represents the average amount of time between the first occurrence of a loss event and the charge-off of a loan or RPA. The factors the Company considers to assess the adequacy of the allowance or liability include past due performance, historical behavior of monthly vintages, underwriting changes and recent trends in delinquency in the migration analysis. The roll-rate methodology is based on delinquency status, payment history and recency factors to estimate future charge-offs.

The Company fully reserves for loans and finance receivables once the receivable or a portion of the receivable has been classified as delinquent for 60 consecutive days and generally charges off loans and finance receivables between 60 – 65 days delinquent. If a loan or finance receivable is deemed uncollectible before it is fully reserved, it is charged off at that point. Loans and finance receivables classified as delinquent generally have an age of one to 64 days from the date any portion of the receivable became delinquent, as defined above. Recoveries on loans and finance receivables previously charged to the allowance are credited to the allowance when collected.

Derivative Instruments Policy

The Company has periodically used forward currency exchange contracts to minimize the effects of foreign currency risk in the United Kingdom. The forward currency exchange contracts are non-designated derivatives. Any gain or loss resulting from these contracts is recorded as income or loss and is included in “Foreign currency transaction gain” in the Company’s consolidated statements of income. As of September 30, 2017, the Company did not manage its exposure to risk from foreign currency exchange rate fluctuations through the use of forward currency exchange contracts in the United Kingdom or Brazil.

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Loans and Finance Receivables, Credit Quality Information and Allowances and Liabilities for Estimated Losses on Loans and Finance Receivables (Tables)

9 Months Ended

Sep. 30, 2017

Receivables [Abstract]

Schedule of Revenue Generated from Loans and Finance Receivables

Revenue generated from the Company’s loans and finance receivables for the three and nine months ended September 30, 2017 and 2016 was as follows (dollars in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Short-term loans	$	49,875	$	51,999	$	144,074	$	146,237
Line of credit accounts		68,889		59,090		187,172		158,338
Installment loans and RPAs		98,929		84,823		268,069		237,320
Total loans and finance receivables revenue		217,693		195,912		599,315		541,895
Other		185		31		730		1,236
Total revenue	$	217,878	$	195,943	$	600,045	$	543,131

Components of Company-Owned Loans and Finance Receivables

The components of Company-owned loans and finance receivables at September 30, 2017 and 2016 and December 31, 2016 were as follows (dollars in thousands):

	As of September 30, 2017
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Current receivables	$	40,588		$	146,891		$	480,522		$	668,001
Delinquent receivables:
Delinquent payment amounts(1)		—			5,913			3,382			9,295
Receivables on non-accrual status		27,131			1,885			36,484			65,500
Total delinquent receivables		27,131			7,798			39,866			74,795
Total loans and finance receivables, gross		67,719			154,689			520,388			742,796
Less: Allowance for losses		(19,161	)		(26,810	)		(59,089	)		(105,060	)
Loans and finance receivables, net	$	48,558		$	127,879		$	461,299		$	637,736

	As of September 30, 2016
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Current receivables	$	35,815		$	120,951		$	412,010		$	568,776
Delinquent receivables:
Delinquent payment amounts(1)		—			4,975			1,721			6,696
Receivables on non-accrual status		24,310			6,462			31,368			62,140
Total delinquent receivables		24,310			11,437			33,089			68,836
Total loans and finance receivables, gross		60,125			132,388			445,099			637,612
Less: Allowance for losses		(17,726	)		(26,795	)		(50,226	)		(94,747	)
Loans and finance receivables, net	$	42,399		$	105,593		$	394,873		$	542,865

	As of December 31, 2016
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Current receivables	$	35,516		$	130,576		$	413,638		$	579,730
Delinquent receivables:
Delinquent payment amounts(1)		—			4,560			2,110			6,670
Receivables on non-accrual status		27,489			9,047			37,559			74,095
Total delinquent receivables		27,489			13,607			39,669			80,765
Total loans and finance receivables, gross		63,005			144,183			453,307			660,495
Less: Allowance for losses		(17,770	)		(26,594	)		(54,581	)		(98,945	)
Loans and finance receivables, net	$	45,235		$	117,589		$	398,726		$	561,550

(1) Represents the delinquent portion of installment loans and line of credit account balances for customers that have only missed one payment and RPA customers who have not delivered agreed upon receivables. See “Current and Delinquent Loans and Finance Receivables” above for additional information.

Schedule of Changes in Allowance for Losses

Changes in the allowance for losses for the Company-owned loans and finance receivables and the liability for losses on the Company’s guarantees of third-party lender-owned loans during the three and nine months ended September 30, 2017 and 2016 were as follows (dollars in thousands):

	Three Months Ended September 30, 2017
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Allowance for losses for Company-owned loans and finance receivables:
Balance at beginning of period	$	15,688		$	22,847		$	45,304		$	83,839
Cost of revenue		23,724			23,439			60,102			107,265
Charge-offs		(25,521	)		(22,708	)		(57,228	)		(105,457	)
Recoveries		5,082			3,232			10,630			18,944
Effect of foreign currency translation		188			—			281			469
Balance at end of period	$	19,161		$	26,810		$	59,089		$	105,060
Liability for third-party lender-owned loans:
Balance at beginning of period	$	1,761		$	—		$	180		$	1,941
Increase (decrease) in liability		125			—			(49	)		76
Balance at end of period	$	1,886		$	—		$	131		$	2,017

	Three Months Ended September 30, 2016
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Allowance for losses for Company-owned loans and finance receivables:
Balance at beginning of period	$	13,354		$	18,029		$	42,437		$	73,820
Cost of revenue		20,464			29,739			45,293			95,496
Charge-offs		(21,301	)		(24,639	)		(44,804	)		(90,744	)
Recoveries		5,345			3,666			7,421			16,432
Effect of foreign currency translation		(136	)		—			(121	)		(257	)
Balance at end of period	$	17,726		$	26,795		$	50,226		$	94,747
Liability for third-party lender-owned loans:
Balance at beginning of period	$	1,392		$	—		$	441		$	1,833
Increase (decrease) in liability		66			—			(172	)		(106	)
Balance at end of period	$	1,458		$	—		$	269		$	1,727

	Nine Months Ended September 30, 2017
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Allowance for losses for Company-owned loans and finance receivables:
Balance at beginning of period	$	17,770		$	26,594		$	54,581		$	98,945
Cost of revenue		55,865			63,138			150,063			269,066
Charge-offs		(70,962	)		(73,252	)		(177,002	)		(321,216	)
Recoveries		16,009			10,330			30,782			57,121
Effect of foreign currency translation		479			—			665			1,144
Balance at end of period	$	19,161		$	26,810		$	59,089		$	105,060
Liability for third-party lender-owned loans:
Balance at beginning of period	$	1,716		$	—		$	280		$	1,996
Increase (decrease) in liability		170			—			(149	)		21
Balance at end of period	$	1,886		$	—		$	131		$	2,017

	Nine Months Ended September 30, 2016
	Short-term			Line of Credit			Installment Loans and
	Loans			Accounts			RPAs			Total
Allowance for losses for Company-owned loans and finance receivables:
Balance at beginning of period	$	14,652		$	15,727		$	36,943		$	67,322
Cost of revenue		47,860			63,461			119,128			230,449
Charge-offs		(59,664	)		(63,236	)		(127,473	)		(250,373	)
Recoveries		15,448			10,843			21,217			47,508
Effect of foreign currency translation		(570	)		—			411			(159	)
Balance at end of period	$	17,726		$	26,795		$	50,226		$	94,747
Liability for third-party lender-owned loans:
Balance at beginning of period	$	1,298		$	—		$	458		$	1,756
Increase (decrease) in liability		160			—			(189	)		(29	)
Balance at end of period	$	1,458		$	—		$	269		$	1,727

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Long-term Debt (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Summary of Long-Term Debt Instruments and Balances Outstanding

The Company’s long-term debt instruments and balances outstanding as of September 30, 2017 and 2016 and December 31, 2016 were as follows (dollars in thousands):

	September 30,						December 31,
	2017			2016			2016
Securitization notes	$	186,533		$	136,953		$	165,419
Revolving line of credit		—			15,000			—
9.75% senior notes due 2021		342,407			495,427			495,622
8.50% senior notes due 2024		250,000			—			—
Subtotal		778,940			647,380			661,041
Less: Long-term debt issuance costs		(13,545	)		(12,201	)		(11,130	)
Total long-term debt	$	765,395		$	635,179		$	649,911

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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Schedule of Reconciliation of Numerators and Denominators of Basic and Diluted Earnings per Share Computations

The following table sets forth the reconciliation of numerators and denominators of basic and diluted earnings per share computations for the three and nine months ended September 30, 2017 and 2016 (in thousands, except per share amounts):

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2017			2016		2017		2016
Numerator:
Net (loss) income	$	(3,368	)	$	7,837	$	22,357	$	25,888
Denominator:
Total weighted average basic shares		33,670			33,211		33,533		33,176
Shares applicable to stock-based compensation		—			347		586		184
Total weighted average diluted shares		33,670			33,558		34,119		33,360
Earnings per share:
Net (loss) income per share – basic	$	(0.10	)	$	0.24	$	0.67	$	0.78
Net (loss) income per share – diluted	$	(0.10	)	$	0.23	$	0.66	$	0.78

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Operating Segment Information (Tables)

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Summary of Domestic, International Operations and Corporate Services

The following tables present information on the Company’s domestic, international operations and corporate services as of and for the three and nine months ended September 30, 2017 and 2016 (dollars in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017			2016
Revenue
Domestic	$	181,584		$	165,330		$	504,326		$	449,100
International		36,294			30,613			95,719			94,031
Total revenue	$	217,878		$	195,943		$	600,045		$	543,131
Income (Loss) from operations
Domestic	$	55,767		$	44,015		$	176,402		$	148,717
International		(1,983	)		5,659			3,939			16,136
Corporate services		(26,107	)		(21,577	)		(79,389	)		(76,100	)
Total income from operations	$	27,677		$	28,097		$	100,952		$	88,753
Depreciation and amortization
Domestic	$	1,634		$	1,385		$	4,692		$	4,552
International		396			409			1,136			1,813
Corporate services		1,503			1,995			4,568			5,639
Total depreciation and amortization	$	3,533		$	3,789		$	10,396		$	12,004
Expenditures for property and equipment
Domestic	$	2,231		$	2,395		$	4,271		$	5,425
International		1,281			1,043			3,401			2,489
Corporate services		1,991			379			3,132			3,552
Total expenditures for property and equipment	$	5,503		$	3,817		$	10,804		$	11,466

	September 30,
	2017		2016
Property and equipment, net
Domestic	$	22,541	$	19,259
International		7,106		5,094
Corporate services		16,910		23,133
Total property and equipment, net	$	46,557	$	47,486
Assets
Domestic	$	899,495	$	823,737
International		126,583		98,842
Corporate services		113,700		52,500
Total assets	$	1,139,778	$	975,079

Summary of Company's Revenue by Geographical Region

The following table presents the Company’s revenue by geographic region for the three and nine months ended September 30, 2017 and 2016 (dollars in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Revenue
United States	$	181,584	$	165,330	$	504,326	$	449,100
United Kingdom		30,679		26,793		82,528		78,882
Other international countries		5,615		3,820		13,191		15,149
Total revenue	$	217,878	$	195,943	$	600,045	$	543,131

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Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2017

Commitments And Contingencies Disclosure [Abstract]

Exit and Disposal Activity and Liability Balances

The following table is a summary of the exit and disposal activity and liability balances as a result of the headquarters relocation for the nine months ended September 30, 2017 and the twelve months ended December 31, 2016 (in thousands):

	Lease Termination Costs			Other Exit Costs			Total
Balance at January 1, 2016	$	1,425		$	204		$	1,629
Payments		(1,132	)		—			(1,132	)
Adjustments		344			(69	)		275
Balance at December 31, 2016	$	637		$	135		$	772
Balance at January 1, 2017	$	637		$	135		$	772
Payments		(554	)		(9	)		(563	)
Adjustments		(83	)		(126	)		(209	)
Balance at September 30, 2017	$	—		$	—		$	—

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Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2017

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Effect Of Derivative Instruments

The following table presents information on the effect of derivative instruments on the consolidated results of operations and accumulated other comprehensive income for the nine months ended September 30, 2017 and 2016 (dollars in thousands):

	Gains (Losses)								Gains (Losses)
	Recognized in				Gains (Losses)				Reclassified From
	Income				Recognized in AOCI				AOCI into Income
	Nine Months Ended				Nine Months Ended				Nine Months Ended
	September 30,				September 30,				September 30,
	2017		2016		2017		2016		2017		2016
Non-designated derivatives:
Forward currency exchange contracts(1)	$	—	$	3,020	$	—	$	—	$	—	$	—
Total	$	—	$	3,020	$	—	$	—	$	—	$	—

(1) The gains (losses) on these derivatives substantially offset the (losses) gains on the economically hedged portion of the foreign intercompany balances.

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Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2017

Variable Interest Entities [Abstract]

Summary of Carrying Amounts of Consolidated VIE Assets and Liabilities

The carrying amounts of consolidated VIE assets and liabilities associated with the Company’s securitization entities were as follows (dollars in thousands):

	September 30,				December 31,
	2017		2016		2016
Assets
Cash and cash equivalents	$	—	$	105	$	—
Restricted cash and cash equivalents		22,161		18,119		19,468
Loans and finance receivables, net		274,363		176,016		216,766
Other receivables and prepaid expenses		—		3		3
Other assets		2,056		—		2,459
Total assets	$	298,580	$	194,243	$	238,696
Liabilities
Accounts payable and accrued expenses	$	1,793	$	991	$	1,350
Long-term debt		185,771		134,537		163,550
Total liabilities	$	187,564	$	135,528	$	164,900

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value Assets and Liabilities Measured on Recurring Basis

The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2017 and 2016 and December 31, 2016 are as follows (dollars in thousands):

	September 30,			Fair Value Measurements Using
	2017			Level 1		Level 2		Level 3
Financial assets (liabilities):
Non-qualified savings plan assets(1)	$	1,443		$	1,443	$	—	$	—
Contingent consideration		(2,358	)		—		—		(2,358	)
Total	$	(915	)	$	1,443	$	—	$	(2,358	)
	September 30,			Fair Value Measurements Using
	2016			Level 1		Level 2		Level 3
Financial assets (liabilities):
Non-qualified savings plan assets(1)	$	1,528		$	1,528	$	—	$	—
Contingent consideration		(5,658	)		—		—		(5,658	)
Total	$	(4,130	)	$	1,528	$	—	$	(5,658	)
	December 31,			Fair Value Measurements Using
	2016			Level 1		Level 2		Level 3
Financial assets (liabilities):
Non-qualified savings plan assets(1)	$	1,590		$	1,590	$	—	$	—
Contingent consideration		(2,358	)		—		—		(2,358	)
Total	$	(768	)	$	1,590	$	—	$	(2,358	)

(1) The non-qualified savings plan assets are included in “Other receivables and prepaid expenses” in the Company’s consolidated balance sheets and have an offsetting liability of equal amount, which is included in “Accounts payable and accrued expenses” in the Company’s consolidated balance sheets.

Fair Value Measurement for Contingent Consideration

The changes in the fair value of the contingent consideration, which isa Level 3 liability measured at fair value on a recurring basis, are summarized in the tables below for the nine months ended September 30, 2017 and 2016 (dollars in thousands):

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Contingent consideration		Total
Balance at December 31, 2015	$	5,658	$	5,658
Adjustments		—		—
Balance at September 30, 2016	$	5,658	$	5,658

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Contingent consideration		Total
Balance at December 31, 2016	$	2,358	$	2,358
Adjustments		—		—
Balance at September 30, 2017	$	2,358	$	2,358

Financial Assets and Liabilities Not Measured at Fair Value

The Company’s financial assets and liabilities as of September 30, 2017 and 2016 and December 31, 2016 that are not measured at fair value in the consolidated balance sheets are as follows (dollars in thousands):

	Balance at
	September 30,		Fair Value Measurements Using
	2017		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	110,054	$	110,054	$	—	$	—
Short-term loans and line of credit accounts, net (1)		176,437		—		—		176,437
Installment loans and RPAs, net (1)(4)		461,299		—		—		496,377
Restricted cash (5)		29,866		29,866		—		—
Investment in unconsolidated investee (2)(3)		6,703		—		—		6,703
Total	$	784,359	$	139,920	$	—	$	679,517
Financial liabilities:
Liability for estimated losses on consumer loans guaranteed by the Company	$	2,017	$	—	$	—	$	2,017
Promissory note		3,000		—		—		3,245
Securitization Notes		186,533		—		189,005		—
9.75% senior notes due 2021		342,407		—		363,796		—
8.50% senior notes due 2024		250,000		—		252,000		—
Total	$	783,957	$	—	$	804,801	$	5,262
	Balance at
	September 30,		Fair Value Measurements Using
	2016		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	45,681	$	45,681	$	—	$	—
Short-term loans and line of credit accounts, net (1)		147,992		—		—		147,992
Installment loans and RPAs, net (1)(4)		394,873		—		—		448,111
Restricted cash (5)		39,272		39,272		—		—
Investment in unconsolidated investee (2)(3)		6,703		—		—		6,703
Total	$	634,521	$	84,953	$	—	$	602,806
Financial liabilities:
Liability for estimated losses on consumer loans guaranteed by the Company	$	1,727	$	—	$	—	$	1,727
Promissory note		3,000		—		—		3,076
Credit agreement borrowings		15,000		—		—		15,000
Securitization Notes		136,953		—		139,911		—
9.75% senior notes due 2021		495,427		—		455,875		—
Total	$	652,107	$	—	$	595,786	$	19,803

	Balance at
	December 31,		Fair Value Measurements Using
	2016		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	39,934	$	39,934	$	—	$	—
Short-term loans and line of credit accounts, net (1)		162,824		—		—		162,824
Installment loans and RPAs, net (1)(4)		398,726		—		—		430,895
Restricted cash (5)		26,306		26,306		—		—
Investment in unconsolidated investee (2)(3)		6,703		—		—		6,703
Total	$	634,493	$	66,240	$	—	$	600,422
Financial liabilities:
Liability for estimated losses on consumer loans guaranteed by the Company	$	1,996	$	—	$	—	$	1,996
Promissory note		3,000		—		—		3,111
Securitization Notes		165,419		—		168,216		—
9.75% senior notes due 2021		495,622		—		495,940		—
Total	$	666,037	$	—	$	664,156	$	5,107

(1) Short-term loans, line of credit accounts, installment loans and RPAs are included in “Loans and finance receivables, net” in the consolidated balance sheets.

(2) Investment in unconsolidated investee is included in “Other assets” in the consolidated balance sheets.

(3) See Note 4 for additional information related to the investment in unconsolidated investee.

(4) Installment loan and RPAs, net include $274.4 million, $176.0 million and $216.8 million in net assets of consolidated VIEs as of September 30, 2017 and 2016 and December 31, 2016, respectively.

(5) Restricted cash includes $22.2 million, $18.1 million and $19.5 million in assets of consolidated VIEs as of September 30, 2017 and 2016 and December 31, 2016, respectively.

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Condensed Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 30, 2017

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEETS

As of September 30, 2017

(dollars in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	54,055		$	50,996		$	5,003		$	—		$	110,054
Restricted cash		—			7,705			22,161			—			29,866
Loans and finance receivables, net		—			351,627			286,109			—			637,736
Income taxes receivable		105,140			(95,852	)		31			—			9,319
Other receivables and prepaid expenses		245			21,271			2,280			—			23,796
Property and equipment, net		—			45,925			632			—			46,557
Goodwill		—			267,015			—			—			267,015
Intangible assets, net		—			4,593			—			—			4,593
Investment in subsidiaries		362,991			45,924			—			(408,915	)		—
Intercompany receivable		343,514			—			—			(343,514	)		—
Other assets		1,826			6,960			2,056			—			10,842
Total assets	$	867,771		$	706,164		$	318,272		$	(752,429	)	$	1,139,778
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	$	13,795		$	62,348		$	2,754		$	—		$	78,897
Intercompany payables		—			252,154			91,360			(343,514	)		—
Deferred tax liabilities, net		(453	)		21,634			(500	)		—			20,681
Long-term debt		579,624			—			185,771			—			765,395
Total liabilities		592,966			336,136			279,385			(343,514	)		864,973
Commitments and contingencies
Stockholders' equity		274,805			370,028			38,887			(408,915	)		274,805
Total liabilities and stockholders' equity	$	867,771		$	706,164		$	318,272		$	(752,429	)	$	1,139,778

CONDENSED CONSOLIDATING BALANCE SHEETS

As of September 30, 2016

(dollars in thousands)

				Guarantor		Non-Guarantor
	Parent			Subsidiaries		Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	43,127	$	2,554		$	—		$	45,681
Restricted cash		—			21,152		18,120			—			39,272
Loans and finance receivables, net		—			358,142		184,723			—			542,865
Income taxes receivable		—			—		—			—			—
Other receivables and prepaid expenses		141			18,222		286			—			18,649
Property and equipment, net		—			47,050		436			—			47,486
Goodwill		—			267,012		—			—			267,012
Intangible assets, net		—			5,670		5			—			5,675
Investment in subsidiaries		278,999			22,358		—			(301,357	)		—
Intercompany receivable		413,472			—		—			(413,472	)		—
Other assets		460			7,979		—			—			8,439
Total assets	$	693,072		$	790,712	$	206,124		$	(714,829	)	$	975,079
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	$	16,386		$	67,931	$	1,116		$	—		$	85,433
Intercompany payables		—			357,650		55,826			(413,476	)		—
Income taxes currently payable		(56,364	)		61,521		(8	)		—			5,149
Deferred tax liabilities, net		(677	)		17,394		(484	)		—			16,233
Long-term debt		500,642			—		134,537			—			635,179
Total liabilities		459,987			504,496		190,987			(413,476	)		741,994
Commitments and contingencies
Stockholders' equity		233,085			286,216		15,137			(301,353	)		233,085
Total liabilities and stockholders' equity	$	693,072		$	790,712	$	206,124		$	(714,829	)	$	975,079

CONDENSED CONSOLIDATING BALANCE SHEETS

As of December 31, 2016

(dollars in thousands)

				Guarantor		Non-Guarantor
	Parent			Subsidiaries		Subsidiaries			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	36,057	$	3,877		$	—		$	39,934
Restricted cash		—			6,838		19,468			—			26,306
Loans and finance receivables, net		—			335,160		226,390			—			561,550
Other receivables and prepaid expenses		127			19,095		302			—			19,524
Property and equipment, net		—			46,507		593			—			47,100
Goodwill		—			267,010		—			—			267,010
Intangible assets, net		—			5,400		4			—			5,404
Investment in subsidiaries		294,646			25,131		—			(319,777	)		—
Intercompany receivable		363,942			—		—			(363,942	)		—
Other assets		597			7,995		2,459			—			11,051
Total assets	$	659,312		$	749,193	$	253,093		$	(683,719	)	$	977,879
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	$	4,310		$	65,714	$	1,647		$	—		$	71,671
Intercompany payables		—			295,763		68,179			(363,942	)		—
Income taxes currently payable		(72,704	)		73,006		(20	)		—			282
Deferred tax liabilities, net		(354	)		15,156		(486	)		—			14,316
Long-term debt		486,361			—		163,550			—			649,911
Total liabilities		417,613			449,639		232,870			(363,942	)		736,180
Commitments and contingencies
Stockholders' equity		241,699			299,554		20,223			(319,777	)		241,699
Total liabilities and stockholders' equity	$	659,312		$	749,193	$	253,093		$	(683,719	)	$	977,879

Condensed Consolidating Statements of Income and Comprehensive Income

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2017

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	178,908		$	40,374		$	(1,404	)	$	217,878
Cost of Revenue		—			79,349			27,992			—			107,341
Gross Profit		—			99,559			12,382			(1,404	)		110,537
Expenses
Marketing		—			26,423			577			—			27,000
Operations and technology		—			22,911			4,252			—			27,163
General and administrative		131			25,746			691			(1,404	)		25,164
Depreciation and amortization		—			3,486			47			—			3,533
Total Expenses		131			78,566			5,567			(1,404	)		82,860
(Loss) Income from Operations		(131	)		20,993			6,815			—			27,677
Interest expense, net		(14,238	)		(33	)		(4,021	)		—			(18,292	)
Foreign currency transaction gain		65			—			—			—			65
Loss on early extinguishment of debt		(14,927	)		—			—			—			(14,927	)
(Loss) Income before Income Taxes and Equity in Net Earnings of Subsidiaries		(29,231	)		20,960			2,794			—			(5,477	)
(Benefit from) provision for income taxes		(9,760	)		6,746			905			—			(2,109	)
(Loss) Income before Equity in Net Earnings of Subsidiaries		(19,471	)		14,214			1,889			—			(3,368	)
Net earnings of subsidiaries		16,103			1,889			—			(17,992	)		—
Net (Loss) Income	$	(3,368	)	$	16,103		$	1,889		$	(17,992	)	$	(3,368	)
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)		2,052			1,304			749			(2,053	)		2,052
Total other comprehensive gain (loss), net of tax		2,052			1,304			749			(2,053	)		2,052
Comprehensive (Loss) Income	$	(1,316	)	$	17,407		$	2,638		$	(20,045	)	$	(1,316	)

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2016

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	170,288		$	24,157		$	1,498		$	195,943
Cost of Revenue		—			78,283			17,108			—			95,391
Gross Profit		—			92,005			7,049			1,498			100,552
Expenses
Marketing		—			26,348			374			—			26,722
Operations and technology		—			19,505			1,132			—			20,637
General and administrative		37			18,539			1,233			1,498			21,307
Depreciation and amortization		—			3,761			28			—			3,789
Total Expenses		37			68,153			2,767			1,498			72,455
(Loss) Income from Operations		(37	)		23,852			4,282			—			28,097
Interest expense, net		(13,342	)		(123	)		(2,652	)		—			(16,117	)
Foreign currency transaction gain		145			—			—			—			145
(Loss) Income before Income Taxes and Equity in Net Earnings of Subsidiaries		(13,234	)		23,729			1,630			—			12,125
(Benefit from) provision for income taxes		(4,832	)		8,451			669			—			4,288
(Loss) Income before Equity in Net Earnings of Subsidiaries		(8,402	)		15,278			961			—			7,837
Net earnings of subsidiaries		16,239			961			—			(17,200	)		—
Net Income (Loss)	$	7,837		$	16,239		$	961		$	(17,200	)	$	7,837
Other comprehensive (loss) gain, net of tax:
Foreign currency translation (loss) gain		(1,245	)		(1,084	)		(160	)		1,244			(1,245	)
Total other comprehensive (loss) gain, net of tax		(1,245	)		(1,084	)		(160	)		1,244			(1,245	)
Comprehensive Income (Loss)	$	6,592		$	15,155		$	801		$	(15,956	)	$	6,592

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2017

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	497,081		$	106,902		$	(3,938	)	$	600,045
Cost of Revenue		—			197,281			71,806			—			269,087
Gross Profit		—			299,800			35,096			(3,938	)		330,958
Expenses
Marketing		—			68,686			1,307			—			69,993
Operations and technology		—			65,090			7,422			—			72,512
General and administrative		265			76,060			4,718			(3,938	)		77,105
Depreciation and amortization		—			10,261			135			—			10,396
Total Expenses		265			220,097			13,582			(3,938	)		230,006
(Loss) Income from Operations		(265	)		79,703			21,514			—			100,952
Interest expense, net		(40,780	)		(97	)		(11,649	)		—			(52,526	)
Foreign currency transaction gain		349			5			—			—			354
Loss on early extinguishment of debt		(14,927	)		—			—			—			(14,927	)
(Loss) Income before Income Taxes and Equity in Net Earnings of Subsidiaries		(55,623	)		79,611			9,865			—			33,853
(Benefit from) provision for income taxes		(18,889	)		27,034			3,351			—			11,496
(Loss) Income before Equity in Net Earnings of Subsidiaries		(36,734	)		52,577			6,514			—			22,357
Net earnings of subsidiaries		59,091			6,514			—			(65,605	)		—
Net Income (Loss)	$	22,357		$	59,091		$	6,514		$	(65,605	)	$	22,357
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)		4,561			4,197			365			(4,562	)		4,561
Total other comprehensive gain (loss), net of tax		4,561			4,197			365			(4,562	)		4,561
Comprehensive Income (Loss)	$	26,918		$	63,288		$	6,879		$	(70,167	)	$	26,918

CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2016

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	478,434		$	64,697		$	—		$	543,131
Cost of Revenue		—			182,729			47,692			—			230,421
Gross Profit		—			295,705			17,005			—			312,710
Expenses
Marketing		—			72,488			1,012			—			73,500
Operations and technology		—			58,642			3,064			—			61,706
General and administrative		185			72,867			3,695			—			76,747
Depreciation and amortization		—			11,936			68			—			12,004
Total Expenses		185			215,933			7,839			—			223,957
(Loss) Income from Operations		(185	)		79,772			9,166			—			88,753
Interest (expense) income, net		(39,793	)		613			(8,878	)		—			(48,058	)
Foreign currency transaction gain		2,184			—			—			—			2,184
(Loss) Income before Income Taxes and Equity in Net Earnings of Subsidiaries		(37,794	)		80,385			288			—			42,879
(Benefit from) provision for income taxes		(14,977	)		31,853			115			—			16,991
(Loss) Income before Equity in Net Earnings of Subsidiaries		(22,817	)		48,532			173			—			25,888
Net earnings of subsidiaries		48,705			173			—			(48,878	)		—
Net Income (Loss)	$	25,888		$	48,705		$	173		$	(48,878	)	$	25,888
Other comprehensive (loss) gain, net of tax:
Foreign currency translation (loss) gain		(5,070	)		(6,342	)		1,270			5,072			(5,070	)
Total other comprehensive (loss) gain, net of tax		(5,070	)		(6,342	)		1,270			5,072			(5,070	)
Comprehensive Income (Loss)	$	20,818		$	42,363		$	1,443		$	(43,806	)	$	20,818

Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Nine Months Ended September 30, 2017

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash Flows from Operating Activities	$	(17,931	)	$	346,948		$	(8,712	)	$	(9,008	)	$	311,297
Cash Flows from Investing Activities
Loans and finance receivables originated or acquired		—			(974,211	)		(24,122	)		—			(998,333	)
Securitized loans transferred		—			201,518			(201,518	)		—			—
Loans and finance receivables repaid		—			467,011			205,463			—			672,474
Change in restricted cash		—			(337	)		(2,693	)		—			(3,030	)
Purchases of property and equipment		—			(10,651	)		(153	)		—			(10,804	)
Capital contributions to subsidiaries		—			(11,785	)		—			11,785			—
Other investing activities		—			1,798			—			—			1,798
Net cash (used in) provided by investing activities		—			(326,657	)		(23,023	)		11,785			(337,895	)
Cash Flows from Financing Activities
(Payments for) proceeds from member's equity		—			(9,008	)		11,785			(2,777	)		—
Debt issuance costs paid		(9,564	)		—			—			—			(9,564	)
Debt prepayment penalty		(11,335	)		—			—			—			(11,335	)
Treasury shares purchased		(2,115	)		—			—			—			(2,115	)
Issuance of Senior Notes		250,000			—			—			—			250,000
Repayments of Senior Notes		(155,000	)		—			—			—			(155,000	)
Borrowings under revolving line of credit		30,000			—			—			—			30,000
Repayments under revolving line of credit, net		(30,000	)		—			—			—			(30,000	)
Borrowings under securitization facility		—			—			137,200			—			137,200
Repayments under securitization facility		—			—			(116,085	)		—			(116,085	)
Net cash provided by (used in) financing activities		71,986			(9,008	)		32,900			(2,777	)		93,101
Effect of exchange rates on cash		—			3,656			(39	)		—			3,617
Net increase in cash and cash equivalents		54,055			14,939			1,126			—			70,120
Cash and cash equivalents at beginning of year		—			36,057			3,877			—			39,934
Cash and cash equivalents at end of period	$	54,055		$	50,996		$	5,003		$	—		$	110,054

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Nine Months Ended September 30, 2016

(in thousands)

				Guarantor			Non-Guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash Flows from Operating Activities	$	87,477		$	216,799		$	40,569		$	(44,138	)	$	300,707
Cash Flows from Investing Activities
Loans and finance receivables originated or acquired		—			(976,614	)		(10,641	)		—			(987,255	)
Securitized loans transferred		—			278,076			(278,076	)		—			—
Loans and finance receivables repaid		—			525,636			126,229			—			651,865
Change in restricted cash		—			(14,656	)		(18,120	)		—			(32,776	)
Purchases of property and equipment		—			(11,262	)		(204	)		—			(11,466	)
Capital contributions to subsidiaries		(43,962	)		(8,005	)		—			51,967			—
Other investing activities		—			72			—			—			72
Net cash (used in) provided by investing activities		(43,962	)		(206,753	)		(180,812	)		51,967			(379,560	)
Cash Flows from Financing Activities
(Payments for) proceeds from member's equity		—			(176	)		8,005			(7,829	)		—
Debt issuance costs paid		—			—			(3,516	)		—			(3,516	)
Treasury shares purchased		(115	)		—			—			—			(115	)
Borrowings under revolving line of credit		45,000			—			—			—			45,000
Repayments under revolving line of credit		(88,400	)		—			—			—			(88,400	)
Borrowings under securitization facility		—			—			218,961			—			218,961
Repayments under securitization facility		—			—			(82,008	)		—			(82,008	)
Net cash (used in) provided by financing activities		(43,515	)		(176	)		141,442			(7,829	)		89,922
Effect of exchange rates on cash		—			(7,670	)		216			—			(7,454	)
Net increase in cash and cash equivalents		—			2,200			1,415			—			3,615
Cash and cash equivalents at beginning of year		—			40,927			1,139			—			42,066
Cash and cash equivalents at end of period	$	—		$	43,127		$	2,554		$	—		$	45,681

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Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Dec. 06, 2016	Sep. 30, 2016	Nov. 13, 2014	Sep. 13, 2011
Significant Accounting Policies [Line Items]
Common stock, shares issued	33,828,668		33,364,525		33,260,017
Spin off percentage						80.00%
Goodwill impairment loss		$ 0
Reduction to revenue	$ (700,000)
Reduction to marketing expense	$ (1,900,000)
FirstCash
Significant Accounting Policies [Line Items]
Retained percentage of stock after spin-off				20.00%
Cash America International Inc.
Significant Accounting Policies [Line Items]
Common stock, shares issued							33,000,000

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Acquisitions - Additional Information (Detail) - USD ($)		3 Months Ended	9 Months Ended		12 Months Ended
	Jun. 23, 2015	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Date of acquisition			Jun. 23, 2015
Business acquisition, asset acquired	$ 26,400,000
Business acquisition, payment in cash	17,700,000
Business Combination, promissory note	3,000,000
Estimated contingent consideration payable	5,700,000	$ 2,358,000	$ 2,358,000	$ 5,658,000	$ 2,358,000	$ 5,658,000
Change fair value measurement contingent consideration		$ 0	$ 0	$ 0	$ 3,300,000
Maximum
Business Acquisition [Line Items]
Total consideration paid	$ 71,000,000

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Loans and Finance Receivables, Credit Quality Information and Allowances and Liabilities for Estimated Losses on Loans and Finance Receivables - Schedule of Revenue Generated from Loans and Finance Receivables (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accounts Notes And Loans Receivable [Line Items]
Total loans and finance receivables revenue	$ 217,693	$ 195,912	$ 599,315	$ 541,895
Other	185	31	730	1,236
Total revenue	217,878	195,943	600,045	543,131
Short-term Loans
Accounts Notes And Loans Receivable [Line Items]
Total loans and finance receivables revenue	49,875	51,999	144,074	146,237
Line of Credit Accounts
Accounts Notes And Loans Receivable [Line Items]
Total loans and finance receivables revenue	68,889	59,090	187,172	158,338
Installment Loans and RPAs
Accounts Notes And Loans Receivable [Line Items]
Total loans and finance receivables revenue	$ 98,929	$ 84,823	$ 268,069	$ 237,320

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Loans and Finance Receivables, Credit Quality Information and Allowances and Liabilities for Estimated Losses on Loans and Finance Receivables - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Accounts Notes And Loans Receivable [Line Items]
Days for delinquent loans to be charged off	60 days
Active consumer loans owned by third-party lenders	$ 28.9	$ 32.2	$ 29.7
Accrual for losses on consumer loan guaranty obligations	$ 2.0	$ 2.0	$ 1.7
Minimum
Accounts Notes And Loans Receivable [Line Items]
Days for delinquent loans to be charged off	60 days
Delinquent loans expiry period (in days)	1 day
Maximum
Accounts Notes And Loans Receivable [Line Items]
Days for delinquent loans to be charged off	65 days
Delinquent loans expiry period (in days)	64 days

XML

Loans and Finance Receivables, Credit Quality Information and Allowances and Liabilities for Estimated Losses on Loans and Finance Receivables - Components of Company-Owned Loans and Finance Receivables (Detail) - USD ($) $ in Thousands		Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Accounts Notes And Loans Receivable [Line Items]
Current receivables		$ 668,001		$ 579,730	$ 568,776
Delinquent payment amounts	[1]	9,295		6,670	6,696
Receivables on non-accrual status		65,500		74,095	62,140
Total delinquent receivables		74,795		80,765	68,836
Total loans and finance receivables, gross		742,796		660,495	637,612
Less: Allowance for losses		(105,060)	$ (83,839)	(98,945)	(94,747)	$ (73,820)	$ (67,322)
Loans and finance receivables, net		637,736		561,550	542,865
Short-term Loans
Accounts Notes And Loans Receivable [Line Items]
Current receivables		40,588		35,516	35,815
Receivables on non-accrual status		27,131		27,489	24,310
Total delinquent receivables		27,131		27,489	24,310
Total loans and finance receivables, gross		67,719		63,005	60,125
Less: Allowance for losses		(19,161)	(15,688)	(17,770)	(17,726)	(13,354)	(14,652)
Loans and finance receivables, net		48,558		45,235	42,399
Line of Credit Accounts
Accounts Notes And Loans Receivable [Line Items]
Current receivables		146,891		130,576	120,951
Delinquent payment amounts	[1]	5,913		4,560	4,975
Receivables on non-accrual status		1,885		9,047	6,462
Total delinquent receivables		7,798		13,607	11,437
Total loans and finance receivables, gross		154,689		144,183	132,388
Less: Allowance for losses		(26,810)	(22,847)	(26,594)	(26,795)	(18,029)	(15,727)
Loans and finance receivables, net		127,879		117,589	105,593
Installment Loans and RPAs
Accounts Notes And Loans Receivable [Line Items]
Current receivables		480,522		413,638	412,010
Delinquent payment amounts	[1]	3,382		2,110	1,721
Receivables on non-accrual status		36,484		37,559	31,368
Total delinquent receivables		39,866		39,669	33,089
Total loans and finance receivables, gross		520,388		453,307	445,099
Less: Allowance for losses		(59,089)	$ (45,304)	(54,581)	(50,226)	$ (42,437)	$ (36,943)
Loans and finance receivables, net		$ 461,299		$ 398,726	$ 394,873

[1] Represents the delinquent portion of installment loans and line of credit account balances for customers that have only missed one payment and RPA customers who have not delivered agreed upon receivables. See “Current and Delinquent Loans and Finance Receivables” above for additional information.

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Loans and Finance Receivables, Credit Quality Information and Allowances and Liabilities for Estimated Losses on Loans and Finance Receivables - Schedule of Changes in Allowance for Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Allowance for losses for Company-owned loans and finance receivables
Balance at beginning of period	$ 83,839	$ 73,820	$ 98,945	$ 67,322
Cost of revenue	107,265	95,496	269,066	230,449
Charge-offs	(105,457)	(90,744)	(321,216)	(250,373)
Recoveries	18,944	16,432	57,121	47,508
Effect of foreign currency translation	469	(257)	1,144	(159)
Balance at end of period	105,060	94,747	105,060	94,747
Liability for third-party lender-owned loans
Balance at beginning of period	1,941	1,833	1,996	1,756
Increase (decrease) in liability	76	(106)	21	(29)
Balance at end of period	2,017	1,727	2,017	1,727
Short-term Loans
Allowance for losses for Company-owned loans and finance receivables
Balance at beginning of period	15,688	13,354	17,770	14,652
Cost of revenue	23,724	20,464	55,865	47,860
Charge-offs	(25,521)	(21,301)	(70,962)	(59,664)
Recoveries	5,082	5,345	16,009	15,448
Effect of foreign currency translation	188	(136)	479	(570)
Balance at end of period	19,161	17,726	19,161	17,726
Liability for third-party lender-owned loans
Balance at beginning of period	1,761	1,392	1,716	1,298
Increase (decrease) in liability	125	66	170	160
Balance at end of period	1,886	1,458	1,886	1,458
Line of Credit Accounts
Allowance for losses for Company-owned loans and finance receivables
Balance at beginning of period	22,847	18,029	26,594	15,727
Cost of revenue	23,439	29,739	63,138	63,461
Charge-offs	(22,708)	(24,639)	(73,252)	(63,236)
Recoveries	3,232	3,666	10,330	10,843
Balance at end of period	26,810	26,795	26,810	26,795
Installment Loans and RPAs
Allowance for losses for Company-owned loans and finance receivables
Balance at beginning of period	45,304	42,437	54,581	36,943
Cost of revenue	60,102	45,293	150,063	119,128
Charge-offs	(57,228)	(44,804)	(177,002)	(127,473)
Recoveries	10,630	7,421	30,782	21,217
Effect of foreign currency translation	281	(121)	665	411
Balance at end of period	59,089	50,226	59,089	50,226
Liability for third-party lender-owned loans
Balance at beginning of period	180	441	280	458
Increase (decrease) in liability	(49)	(172)	(149)	(189)
Balance at end of period	$ 131	$ 269	$ 131	$ 269

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Investment in Unconsolidated Investee - Additional information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Investments All Other Investments [Abstract]
Cost method investments	$ 6,700,000	$ 6,700,000	$ 6,700,000
Investment impairment	$ 0

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Long-Term Debt - Summary of Long-Term Debt Instruments and Balances Outstanding (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Debt Instrument [Line Items]
Securitization notes	$ 186,533	$ 165,419	$ 136,953
Subtotal	778,940	661,041	647,380
Less: Long-term debt issuance costs	(13,545)	(11,130)	(12,201)
Total long-term debt	765,395	649,911	635,179
9.75% Senior Notes Due 2021
Debt Instrument [Line Items]
Senior notes	342,407	$ 495,622	495,427
8.50% Senior Notes Due 2024
Debt Instrument [Line Items]
Senior notes	$ 250,000
Revolving Line of Credit
Debt Instrument [Line Items]
Revolving line of credit			$ 15,000

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Long-Term Debt - Summary of Long-Term Debt Instruments and Balances Outstanding (Parenthetical) (Detail)	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Sep. 01, 2017	May 30, 2014
9.75% Senior Notes Due 2021
Debt Instrument [Line Items]
Debt instrument, interest rate	9.75%	9.75%	9.75%		9.75%
Debt instrument, maturity date	Jun. 01, 2021	Jun. 01, 2021	Jun. 01, 2021
8.50% Senior Notes Due 2024
Debt Instrument [Line Items]
Debt instrument, interest rate	8.50%			8.50%
Debt instrument, maturity date	Sep. 01, 2024

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Long-term Debt - Additional Information (Detail) - USD ($)				3 Months Ended	9 Months Ended		12 Months Ended
	Dec. 01, 2016	Oct. 20, 2016	Jan. 15, 2016	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Sep. 01, 2017	May 30, 2014
Debt Instrument [Line Items]
Aggregate availability of variable funding notes			$ 20,000,000
Maximum principal amount of securitization notes outstanding			$ 175,000,000
Carrying amount of securitization notes				$ 186,533,000	$ 186,533,000	$ 136,953,000	$ 165,419,000
Loss on early extinguishment of debt				$ 14,927,000	$ 14,927,000
Revolving Line of Credit
Debt Instrument [Line Items]
Revolving line of credit						15,000,000
8.50% Senior Unsecured Notes Due 2024
Debt Instrument [Line Items]
Debt instrument, face amount								$ 250,000,000
Debt instrument, maturity date					Sep. 01, 2024
Debt instrument, interest rate				8.50%	8.50%			8.50%
Debt instrument, payment terms					The 2024 Senior Notes bear interest at a rate of 8.50% annually on the principal amount payable semi-annually in arrears on March 1 and September 1 of each year, beginning on March 1, 2018.
Debt instrument, percentage of sale price								100.00%
Notes redemption, description					The 2024 Senior Notes are redeemable at the Company’s option, in whole or in part, (i) at any time prior to September 1, 2020 at 100% of the aggregate principal amount of 2024 Senior Notes redeemed plus the applicable “make whole” premium specified in the indenture that governs the Company’s 2024 Notes (the "2024 Senior Notes Indenture"), plus accrued and unpaid interest, if any, to the redemption date and (ii) at any time on or after September 1, 2020 at the premium, if any, specified in the 2024 Senior Notes Indenture that will decrease over time, plus accrued and unpaid interest, if any, to the redemption date.
Note redeem rate					100.00%
Unamortized debt issuance cost				$ 7,500,000	$ 7,500,000
Interest expense recognized					1,900,000
Debt issuance cost				7,600,000	7,600,000
Carrying amount of senior notes				242,500,000	$ 242,500,000
8.50% Senior Unsecured Notes Due 2024 | $250.0 million 8.50% Senior Unsecured Notes Redemption, Under Additional Option Available
Debt Instrument [Line Items]
Note redeem rate					108.50%
Percentage of notes principal redeemable					40.00%
2016-1 Securitization Facility
Debt Instrument [Line Items]
Debt instrument, revolving period			9 months
Debt instrument, maturity date			Oct. 15, 2020
Debt instrument, amended revolving period					2017-10
Debt instrument, amended latest period					2021-10
Securitization Notes issued pursuant to an indenture, date			Jan. 15, 2016
Maximum principal amount of securitization facility		$ 275,000,000
Variable funding note maximum principal amount		40,000,000
Variable funding note maximum principal amount thereafter		$ 30,000,000
Extended Maturity period of revolving facility		2017-10
Weighted average interest rate		9.50%
Carrying amount of securitization notes				173,700,000	$ 173,700,000	134,500,000
Unamortized debt issuance cost				800,000	800,000	2,400,000
Interest expense recognized					11,400,000	9,500,000
Non-cash amortization of debt issuance costs					$ 1,100,000	2,600,000
Debt issuance cost, amortization period					4 years
2016-1 Securitization Facility | Agent's Base Rate
Debt Instrument [Line Items]
Debt instrument, interest rate			1.00%
2016-1 Securitization Facility | Prime Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			7.75%
2016-1 Securitization Facility | LIBOR
Debt Instrument [Line Items]
Debt instrument, effective percentage			8.75%
2016-2 Facility
Debt Instrument [Line Items]
Carrying amount of securitization notes				12,100,000	$ 12,100,000
Interest expense recognized					$ 1,400,000
Debt issuance cost, amortization period					36 months
Date at Issuer not permitted to prepay or redeem any outstanding securitization notes prior	Oct. 01, 2018
Debt issuance cost				200,000	$ 200,000
2016-2 Facility | Redpoint Capital Asset Funding, LLC | Minimum
Debt Instrument [Line Items]
Annual percentage rate for securitized consumer loan	90.00%
2016-2 Facility | LIBOR
Debt Instrument [Line Items]
Debt instrument, effective percentage	12.50%
2014 Revolving Credit Facility Due 2017 | Jefferies Group, LLC
Debt Instrument [Line Items]
Maximum borrowing capacity				35,000,000	$ 35,000,000
2014 Revolving Credit Facility Due 2017 | Jefferies Group, LLC | Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance cost, amortization period					37 months
Debt issuance cost				1,600,000	$ 1,600,000
Credit agreement, maturity date					Jun. 30, 2017
Revolving line of credit						$ 0	$ 0
2017 Revolving Credit Facility Due 2020 | Green Bank, N.A.
Debt Instrument [Line Items]
Debt issuance cost, amortization period					34 months
Debt issuance cost				2,000,000	$ 2,000,000
Credit agreement, maturity date					May 01, 2020
Revolving line of credit				0	$ 0
Maximum borrowing capacity				40,000,000	40,000,000
2017 Revolving Credit Facility Due 2020 | Green Bank, N.A. | Letters of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				20,000,000	20,000,000
Borrowings outstanding under credit agreement				$ 8,000,000	$ 8,000,000
2017 Revolving Credit Facility Due 2020 | Green Bank, N.A. | Minimum
Debt Instrument [Line Items]
Commitment fee percentage					0.30%
2017 Revolving Credit Facility Due 2020 | Green Bank, N.A. | Maximum
Debt Instrument [Line Items]
Commitment fee percentage					0.50%
2017 Revolving Credit Facility Due 2020 | Prime Rate | Green Bank, N.A.
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					1.00%
9.75% Senior Unsecured Notes Due 2021
Debt Instrument [Line Items]
Debt instrument, face amount									$ 500,000,000
Debt instrument, maturity date					Jun. 01, 2021	Jun. 01, 2021	Jun. 01, 2021
Debt instrument, interest rate				9.75%	9.75%	9.75%	9.75%		9.75%
Debt instrument, effective percentage									10.00%
Unamortized debt issuance cost				$ 5,300,000	$ 5,300,000	$ 9,800,000
Interest expense recognized					38,000,000	38,700,000
Non-cash amortization of debt issuance costs					$ 1,500,000	1,600,000
Debt issuance cost, amortization period					7 years
Carrying amount of senior notes				337,100,000	$ 337,100,000	485,600,000
Debt instrument, repurchase of principal amount				155,000,000	155,000,000
Aggregate cash consideration paid for repurchase of principal amount with accrued interest				166,300,000
Loss on early extinguishment of debt				14,900,000
Loss on early extinguishment of debt, net of tax				9,200,000
Debt instrument unamortized discount				$ 2,600,000	2,600,000	4,600,000
Non-cash amortization discount					$ 600,000	$ 600,000
Weighted average interest rates				10.58%	10.58%	10.75%
Initial Term Note | 2016-1 Securitization Facility
Debt Instrument [Line Items]
Debt instrument, face amount			$ 107,400,000
Unsecured consumer loans			$ 134,000,000
Revolving Note | 2016-2 Facility
Debt Instrument [Line Items]
Debt instrument, face amount	$ 20,000,000
Unsecured consumer loans	$ 25,000,000
Debt instrument, maturity date	Dec. 01, 2019
Expected increase in maximum principal balance	$ 40,000,000
Enova Standby And Letter Of Credit | Revolving Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 20,000,000
Borrowings outstanding under credit agreement						$ 6,600,000	$ 6,600,000

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Earnings Per Share - Reconciliation of Numerators and Denominators of Basic and Diluted Earnings per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator:
Net (loss) income	$ (3,368)	$ 7,837	$ 22,357	$ 25,888
Weighted average common shares outstanding:
Total weighted average basic shares	33,670	33,211	33,533	33,176
Shares applicable to stock-based compensation		347	586	184
Total weighted average diluted shares	33,670	33,558	34,119	33,360
Earnings Per Share:
Net (loss) income per share – basic	$ (0.10)	$ 0.24	$ 0.67	$ 0.78
Net (loss) income per share – diluted	$ (0.10)	$ 0.23	$ 0.66	$ 0.78

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Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options not included in computation of diluted net (loss) income per share	2,138,180	1,467,202	1,552,045	1,783,073
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options not included in computation of diluted net (loss) income per share	1,592,937	343,663	242,677	520,688

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Operating Segment Information - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2017 USD ($) Segment	Dec. 31, 2016 USD ($)	Sep. 30, 2016 USD ($)
Segment Reporting [Abstract]
Number of reportable segment | Segment	1
Property and equipment, net | $	$ 46,557	$ 47,100	$ 47,486

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Operating Segment Information - Summary of Domestic, International Operations and Corporate Services (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Revenues [Abstract]
Revenue	$ 217,878	$ 195,943	$ 600,045	$ 543,131
Income (Loss) from operations [Abstract]
Income from operations	27,677	28,097	100,952	88,753
Depreciation and amortization [Abstract]
Depreciation and amortization	3,533	3,789	10,396	12,004
Expenditures for property and equipment [Abstract]
Expenditures for property and equipment	5,503	3,817	10,804	11,466
Property and equipment, net [Abstract]
Property and equipment, net	46,557	47,486	46,557	47,486	$ 47,100
Assets
Assets	1,139,778	975,079	1,139,778	975,079	$ 977,879
Domestic
Revenues [Abstract]
Revenue	181,584	165,330	504,326	449,100
Income (Loss) from operations [Abstract]
Income from operations	55,767	44,015	176,402	148,717
Depreciation and amortization [Abstract]
Depreciation and amortization	1,634	1,385	4,692	4,552
Expenditures for property and equipment [Abstract]
Expenditures for property and equipment	2,231	2,395	4,271	5,425
Property and equipment, net [Abstract]
Property and equipment, net	22,541	19,259	22,541	19,259
Assets
Assets	899,495	823,737	899,495	823,737
International
Revenues [Abstract]
Revenue	36,294	30,613	95,719	94,031
Income (Loss) from operations [Abstract]
Income from operations	(1,983)	5,659	3,939	16,136
Depreciation and amortization [Abstract]
Depreciation and amortization	396	409	1,136	1,813
Expenditures for property and equipment [Abstract]
Expenditures for property and equipment	1,281	1,043	3,401	2,489
Property and equipment, net [Abstract]
Property and equipment, net	7,106	5,094	7,106	5,094
Assets
Assets	126,583	98,842	126,583	98,842
Corporate Services
Income (Loss) from operations [Abstract]
Income from operations	(26,107)	(21,577)	(79,389)	(76,100)
Depreciation and amortization [Abstract]
Depreciation and amortization	1,503	1,995	4,568	5,639
Expenditures for property and equipment [Abstract]
Expenditures for property and equipment	1,991	379	3,132	3,552
Property and equipment, net [Abstract]
Property and equipment, net	16,910	23,133	16,910	23,133
Assets
Assets	$ 113,700	$ 52,500	$ 113,700	$ 52,500

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Operating Segment Information - Summary of Company's Revenue by Geographical Region (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues [Abstract]
Revenue	$ 217,878	$ 195,943	$ 600,045	$ 543,131
United States
Revenues [Abstract]
Revenue	181,584	165,330	504,326	449,100
United Kingdom
Revenues [Abstract]
Revenue	30,679	26,793	82,528	78,882
Other International Countries
Revenues [Abstract]
Revenue	$ 5,615	$ 3,820	$ 13,191	$ 15,149

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Commitments and Contingencies - Additional information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)	Jun. 30, 2015 ft²
Commitments And Contingencies [Line Items]
Leased area | ft²		86,000
Estimated sublease income	$ 1.7
Lease Termination Costs and Other Exit Costs
Commitments And Contingencies [Line Items]
Expense related to lease termination penalty	3.7
Lease Termination Costs
Commitments And Contingencies [Line Items]
Expense related to lease termination penalty	2.9
Other Exit Costs
Commitments And Contingencies [Line Items]
Expense related to lease termination penalty	$ 0.8

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Commitments and Contingencies - Exit and Disposal Activity and Liability Balances (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Lease Termination Costs
Commitments And Contingencies [Line Items]
Beginning Balance	$ 637	$ 1,425
Payments	(554)	(1,132)
Adjustments	(83)	344
Ending Balance		637
Other Exit Costs
Commitments And Contingencies [Line Items]
Beginning Balance	135	204
Payments	(9)
Adjustments	(126)	(69)
Ending Balance		135
Lease Termination Costs and Other Exit Costs
Commitments And Contingencies [Line Items]
Beginning Balance	772	1,629
Payments	(563)	(1,132)
Adjustments	$ (209)	275
Ending Balance		$ 772

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Derivative Instruments - Additional Information (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Outstanding derivative instruments	$ 0	$ 0	$ 0

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Derivative Instruments - Effect of Derivative Instruments on the Consolidated Results of Operations and Accumulated other Comprehensive Income (Detail) - Non-Designated Derivatives $ in Thousands	9 Months Ended
	Sep. 30, 2016 USD ($)
Derivative Instruments Gain Loss [Line Items]
Gains (Losses) Recognized in Income	$ 3,020
Forward Currency Exchange Contracts
Derivative Instruments Gain Loss [Line Items]
Gains (Losses) Recognized in Income	$ 3,020	[1]

[1] The gains (losses) on these derivatives substantially offset the (losses) gains on the economically hedged portion of the foreign intercompany balances.

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Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Jun. 23, 2015
Related Party Transaction [Line Items]
Business Combination, promissory note				$ 3,000
Small Business
Related Party Transaction [Line Items]
Business Combination, promissory note	$ 3,000
Promissory note maturity date	Jun. 23, 2018
Interest expense related to promissory note	$ 95	$ 91
Transition services agreement fee income	$ 24	27
Debt instrument, interest rate	4.00%
Transition services agreement period	3 years
Cash America
Related Party Transaction [Line Items]
Consumer loans reimbursement amount	$ 600	700
FirstCash
Related Party Transaction [Line Items]
Related party payable, net	$ 100	100	$ 100
RPAs | Small Business
Related Party Transaction [Line Items]
Paid RPAs, amount		$ 400

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Variable Interest Entities - Summary of Carrying Amounts of Consolidated VIE Assets and Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 110,054	$ 39,934	$ 45,681	$ 42,066
Restricted cash and cash equivalents	29,866	26,306	39,272
Loans and finance receivables, net	637,736	561,550	542,865
Other receivables and prepaid expenses	23,796	19,524	18,649
Other assets	10,842	11,051	8,439
Liabilities
Accounts payable and accrued expenses	78,897	71,671	85,433
Long-term debt	765,395	649,911	635,179
Variable Interest Entity, Primary Beneficiary
Assets
Cash and cash equivalents			105
Restricted cash and cash equivalents	22,161	19,468	18,119
Loans and finance receivables, net	274,363	216,766	176,016
Other receivables and prepaid expenses		3	3
Other assets	2,056	2,459
Total assets	298,580	238,696	194,243
Liabilities
Accounts payable and accrued expenses	1,793	1,350	991
Long-term debt	185,771	163,550	134,537
Total liabilities	$ 187,564	$ 164,900	$ 135,528

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Fair Value Measurements - Additional Information (Detail) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Sep. 01, 2017	May 30, 2014
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Transfer of Liabilities, amount	$ 0	$ 0
Transfer of assets, amount	0	0
Assets fair value non-recurring	0	0	$ 0
Liabilities fair value non-recurring	0	0	0
Accrual for losses on consumer loan guaranty obligations	$ 2,000,000	$ 1,700,000	$ 2,000,000
9.75% Senior Notes Due 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Term of loan	7 years
Debt instrument, interest rate	9.75%	9.75%	9.75%		9.75%
Debt instrument, maturity date	Jun. 01, 2021	Jun. 01, 2021	Jun. 01, 2021
8.50% Senior Notes Due 2024
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument, interest rate	8.50%			8.50%
Debt instrument, maturity date	Sep. 01, 2024
Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalent maturity period	90 days
Maximum | Short-term Loans
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Term of loan	12 months
Maximum | Line of Credit Accounts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Term of loan	12 months
Maximum | Installment Loans and RPAs
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Term of loan	60 months
Maximum | RPAs
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Estimated delivery term	18 months
Minimum | Installment Loans and RPAs
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Term of loan	2 months
Minimum | RPAs
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Estimated delivery term	6 months

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Fair Value Measurements - Fair Value Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015	Jun. 23, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration		$ (2,358)	$ (2,358)	$ (5,658)	$ (5,658)	$ (5,700)
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration		(2,358)	(2,358)	(5,658)	$ (5,658)
Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Non-qualified savings plan assets	[1]	1,443	1,590	1,528
Contingent consideration		(2,358)	(2,358)	(5,658)
Total		(915)	(768)	(4,130)
Fair Value, Measurements, Recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Non-qualified savings plan assets	[1]	1,443	1,590	1,528
Total		1,443	1,590	1,528
Fair Value, Measurements, Recurring | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration		(2,358)	(2,358)	(5,658)
Total		$ (2,358)	$ (2,358)	$ (5,658)

[1] The non-qualified savings plan assets are included in “Other receivables and prepaid expenses” in the Company’s consolidated balance sheets and have an offsetting liability of equal amount, which is included in “Accounts payable and accrued expenses” in the Company’s consolidated balance sheets.

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Fair Value Measurements - Fair Value Measurement for Contingent Consideration (Detail) - USD ($)	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration, Beginning balance		$ 2,358,000	$ 5,658,000	$ 5,658,000
Contingent consideration, Adjustments	$ 0	0	0	3,300,000
Contingent consideration, Ending balance	2,358,000	2,358,000	5,658,000	2,358,000
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration, Beginning balance		2,358,000	5,658,000	5,658,000
Contingent consideration, Adjustments		0	0
Contingent consideration, Ending balance	$ 2,358,000	$ 2,358,000	$ 5,658,000	$ 2,358,000

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Fair Value Measurements - Financial Assets and Liabilities Not Measured at Fair Value (Detail) - USD ($) $ in Thousands		Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Financial liabilities:
Liability for estimated losses on consumer loans guaranteed by the Company		$ 2,017	$ 1,941	$ 1,996	$ 1,727	$ 1,833	$ 1,756
Carrying Value
Financial assets:
Cash and cash equivalents		110,054		39,934	45,681
Short-term loans and line of credit accounts, net	[1]	176,437		162,824	147,992
Installment loans and RPAs, net	[1],[2]	461,299		398,726	394,873
Restricted cash	[3]	29,866		26,306	39,272
Investment in unconsolidated investee	[4],[5]	6,703		6,703	6,703
Total		784,359		634,493	634,521
Financial liabilities:
Liability for estimated losses on consumer loans guaranteed by the Company		2,017		1,996	1,727
Promissory note		3,000		3,000	3,000
Credit agreement borrowings					15,000
Securitization Notes		186,533		165,419	136,953
Total		783,957		666,037	652,107
Carrying Value | 9.75% Senior Notes Due 2021
Financial liabilities:
Senior notes		342,407		495,622	495,427
Carrying Value | 8.50% Senior Notes Due 2024
Financial liabilities:
Senior notes		250,000
Level 1 | Estimated Fair Value
Financial assets:
Cash and cash equivalents		110,054		39,934	45,681
Restricted cash	[3]	29,866		26,306	39,272
Total		139,920		66,240	84,953
Level 2 | Estimated Fair Value
Financial liabilities:
Securitization Notes		189,005		168,216	139,911
Total		804,801		664,156	595,786
Level 2 | Estimated Fair Value | 9.75% Senior Notes Due 2021
Financial liabilities:
Senior notes		363,796		495,940	455,875
Level 2 | Estimated Fair Value | 8.50% Senior Notes Due 2024
Financial liabilities:
Senior notes		252,000
Level 3 | Estimated Fair Value
Financial assets:
Short-term loans and line of credit accounts, net	[1]	176,437		162,824	147,992
Installment loans and RPAs, net	[1],[2]	496,377		430,895	448,111
Investment in unconsolidated investee	[4],[5]	6,703		6,703	6,703
Total		679,517		600,422	602,806
Financial liabilities:
Liability for estimated losses on consumer loans guaranteed by the Company		2,017		1,996	1,727
Promissory note		3,245		3,111	3,076
Credit agreement borrowings					15,000
Total		$ 5,262		$ 5,107	$ 19,803

[1] Short-term loans, line of credit accounts, installment loans and RPAs are included in “Loans and finance receivables, net” in the consolidated balance sheets.

[2] Installment loan and RPAs, net include $274.4 million, $176.0 million and $216.8 million in net assets of consolidated VIEs as of September 30, 2017 and 2016 and December 31, 2016, respectively.

[3] Restricted cash includes $22.2 million, $18.1 million and $19.5 million in assets of consolidated VIEs as of September 30, 2017 and 2016 and December 31, 2016, respectively.

[4] Investment in unconsolidated investee is included in “Other assets” in the consolidated balance sheets.

[5] See Note 4 for additional information related to the investment in unconsolidated investee.

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Fair Value Measurements - Financial Assets and Liabilities Not Measured at Fair Value (Parenthetical) (Detail) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Sep. 01, 2017	May 30, 2014
Variable Interest Entity, Primary Beneficiary
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Installment loans and RPAs, net	$ 274.4	$ 176.0	$ 216.8
Restricted cash	$ 22.2	$ 18.1	$ 19.5
9.75% Senior Notes Due 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument, interest rate	9.75%	9.75%	9.75%		9.75%
Debt instrument, maturity date	Jun. 01, 2021	Jun. 01, 2021	Jun. 01, 2021
8.50% Senior Notes Due 2024
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument, interest rate	8.50%			8.50%
Debt instrument, maturity date	Sep. 01, 2024

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Condensed Consolidating Financial Statements - Additional Information (Detail)	Sep. 30, 2017
Guarantor Subsidiaries
Condensed Financial Statements Captions [Line Items]
Percentage of ownership	100.00%

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Condensed Consolidating Financial Statements - Condensed Consolidating Balance Sheets - (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 110,054	$ 39,934	$ 45,681	$ 42,066
Restricted cash	29,866	26,306	39,272
Loans and finance receivables, net	637,736	561,550	542,865
Income taxes receivable	9,319
Other receivables and prepaid expenses	23,796	19,524	18,649
Property and equipment, net	46,557	47,100	47,486
Goodwill	267,015	267,010	267,012
Intangible assets, net	4,593	5,404	5,675
Other assets	10,842	11,051	8,439
Total assets	1,139,778	977,879	975,079
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	78,897	71,671	85,433
Income taxes currently payable		282	5,149
Deferred tax liabilities, net	20,681	14,316	16,233
Long-term debt	765,395	649,911	635,179
Total liabilities	864,973	736,180	741,994
Commitments and contingencies
Stockholders' equity	274,805	241,699	233,085	205,968
Total liabilities and stockholders' equity	1,139,778	977,879	975,079
Parent
Assets
Cash and cash equivalents	54,055
Income taxes receivable	105,140
Other receivables and prepaid expenses	245	127	141
Investment in subsidiaries	362,991	294,646	278,999
Intercompany receivable	343,514	363,942	413,472
Other assets	1,826	597	460
Total assets	867,771	659,312	693,072
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	13,795	4,310	16,386
Income taxes currently payable		(72,704)	(56,364)
Deferred tax liabilities, net	(453)	(354)	(677)
Long-term debt	579,624	486,361	500,642
Total liabilities	592,966	417,613	459,987
Commitments and contingencies
Stockholders' equity	274,805	241,699	233,085
Total liabilities and stockholders' equity	867,771	659,312	693,072
Guarantor Subsidiaries
Assets
Cash and cash equivalents	50,996	36,057	43,127	40,927
Restricted cash	7,705	6,838	21,152
Loans and finance receivables, net	351,627	335,160	358,142
Income taxes receivable	(95,852)
Other receivables and prepaid expenses	21,271	19,095	18,222
Property and equipment, net	45,925	46,507	47,050
Goodwill	267,015	267,010	267,012
Intangible assets, net	4,593	5,400	5,670
Investment in subsidiaries	45,924	25,131	22,358
Other assets	6,960	7,995	7,979
Total assets	706,164	749,193	790,712
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	62,348	65,714	67,931
Intercompany payables	252,154	295,763	357,650
Income taxes currently payable		73,006	61,521
Deferred tax liabilities, net	21,634	15,156	17,394
Total liabilities	336,136	449,639	504,496
Commitments and contingencies
Stockholders' equity	370,028	299,554	286,216
Total liabilities and stockholders' equity	706,164	749,193	790,712
Non-Guarantor Subsidiaries
Assets
Cash and cash equivalents	5,003	3,877	2,554	$ 1,139
Restricted cash	22,161	19,468	18,120
Loans and finance receivables, net	286,109	226,390	184,723
Income taxes receivable	31
Other receivables and prepaid expenses	2,280	302	286
Property and equipment, net	632	593	436
Intangible assets, net		4	5
Other assets	2,056	2,459
Total assets	318,272	253,093	206,124
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	2,754	1,647	1,116
Intercompany payables	91,360	68,179	55,826
Income taxes currently payable		(20)	(8)
Deferred tax liabilities, net	(500)	(486)	(484)
Long-term debt	185,771	163,550	134,537
Total liabilities	279,385	232,870	190,987
Commitments and contingencies
Stockholders' equity	38,887	20,223	15,137
Total liabilities and stockholders' equity	318,272	253,093	206,124
Eliminations
Assets
Investment in subsidiaries	(408,915)	(319,777)	(301,357)
Intercompany receivable	(343,514)	(363,942)	(413,472)
Total assets	(752,429)	(683,719)	(714,829)
Liabilities and Stockholders' Equity
Intercompany payables	(343,514)	(363,942)	(413,476)
Total liabilities	(343,514)	(363,942)	(413,476)
Commitments and contingencies
Stockholders' equity	(408,915)	(319,777)	(301,353)
Total liabilities and stockholders' equity	$ (752,429)	$ (683,719)	$ (714,829)

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Condensed Consolidating Financial Statements - Condensed Consolidating Statements of Income and Comprehensive Income - (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Condensed Financial Statements Captions [Line Items]
Revenue		$ 217,878	$ 195,943	$ 600,045	$ 543,131
Cost of Revenue		107,341	95,391	269,087	230,421
Gross Profit		110,537	100,552	330,958	312,710
Expenses
Marketing		27,000	26,722	69,993	73,500
Operations and technology		27,163	20,637	72,512	61,706
General and administrative		25,164	21,307	77,105	76,747
Depreciation and amortization		3,533	3,789	10,396	12,004
Total Expenses		82,860	72,455	230,006	223,957
Income from Operations		27,677	28,097	100,952	88,753
Interest (expense) income, net		(18,292)	(16,117)	(52,526)	(48,058)
Foreign currency transaction gain		65	145	354	2,184
Loss on early extinguishment of debt		(14,927)		(14,927)
(Loss) Income before Income Taxes		(5,477)	12,125	33,853	42,879
(Benefit from) provision for income taxes		(2,109)	4,288	11,496	16,991
(Loss) Income before Equity in Net Earnings of Subsidiaries		(3,368)	7,837	22,357	25,888
Net (Loss) Income		(3,368)	7,837	22,357	25,888
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)	[1]	2,052	(1,245)	4,561	(5,070)
Total other comprehensive gain (loss), net of tax		2,052	(1,245)	4,561	(5,070)
Comprehensive (Loss) Income		(1,316)	6,592	26,918	20,818
Parent
Expenses
General and administrative		131	37	265	185
Total Expenses		131	37	265	185
Income from Operations		(131)	(37)	(265)	(185)
Interest (expense) income, net		(14,238)	(13,342)	(40,780)	(39,793)
Foreign currency transaction gain		65	145	349	2,184
Loss on early extinguishment of debt		(14,927)		(14,927)
(Loss) Income before Income Taxes		(29,231)	(13,234)	(55,623)	(37,794)
(Benefit from) provision for income taxes		(9,760)	(4,832)	(18,889)	(14,977)
(Loss) Income before Equity in Net Earnings of Subsidiaries		(19,471)	(8,402)	(36,734)	(22,817)
Net earnings of subsidiaries		16,103	16,239	59,091	48,705
Net (Loss) Income		(3,368)	7,837	22,357	25,888
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)		2,052	(1,245)	4,561	(5,070)
Total other comprehensive gain (loss), net of tax		2,052	(1,245)	4,561	(5,070)
Comprehensive (Loss) Income		(1,316)	6,592	26,918	20,818
Guarantor Subsidiaries
Condensed Financial Statements Captions [Line Items]
Revenue		178,908	170,288	497,081	478,434
Cost of Revenue		79,349	78,283	197,281	182,729
Gross Profit		99,559	92,005	299,800	295,705
Expenses
Marketing		26,423	26,348	68,686	72,488
Operations and technology		22,911	19,505	65,090	58,642
General and administrative		25,746	18,539	76,060	72,867
Depreciation and amortization		3,486	3,761	10,261	11,936
Total Expenses		78,566	68,153	220,097	215,933
Income from Operations		20,993	23,852	79,703	79,772
Interest (expense) income, net		(33)	(123)	(97)	613
Foreign currency transaction gain				5
(Loss) Income before Income Taxes		20,960	23,729	79,611	80,385
(Benefit from) provision for income taxes		6,746	8,451	27,034	31,853
(Loss) Income before Equity in Net Earnings of Subsidiaries		14,214	15,278	52,577	48,532
Net earnings of subsidiaries		1,889	961	6,514	173
Net (Loss) Income		16,103	16,239	59,091	48,705
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)		1,304	(1,084)	4,197	(6,342)
Total other comprehensive gain (loss), net of tax		1,304	(1,084)	4,197	(6,342)
Comprehensive (Loss) Income		17,407	15,155	63,288	42,363
Non-Guarantor Subsidiaries
Condensed Financial Statements Captions [Line Items]
Revenue		40,374	24,157	106,902	64,697
Cost of Revenue		27,992	17,108	71,806	47,692
Gross Profit		12,382	7,049	35,096	17,005
Expenses
Marketing		577	374	1,307	1,012
Operations and technology		4,252	1,132	7,422	3,064
General and administrative		691	1,233	4,718	3,695
Depreciation and amortization		47	28	135	68
Total Expenses		5,567	2,767	13,582	7,839
Income from Operations		6,815	4,282	21,514	9,166
Interest (expense) income, net		(4,021)	(2,652)	(11,649)	(8,878)
(Loss) Income before Income Taxes		2,794	1,630	9,865	288
(Benefit from) provision for income taxes		905	669	3,351	115
(Loss) Income before Equity in Net Earnings of Subsidiaries		1,889	961	6,514	173
Net (Loss) Income		1,889	961	6,514	173
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)		749	(160)	365	1,270
Total other comprehensive gain (loss), net of tax		749	(160)	365	1,270
Comprehensive (Loss) Income		2,638	801	6,879	1,443
Eliminations
Condensed Financial Statements Captions [Line Items]
Revenue		(1,404)	1,498	(3,938)
Gross Profit		(1,404)	1,498	(3,938)
Expenses
General and administrative		(1,404)	1,498	(3,938)
Total Expenses		(1,404)	1,498	(3,938)
Net earnings of subsidiaries		(17,992)	(17,200)	(65,605)	(48,878)
Net (Loss) Income		(17,992)	(17,200)	(65,605)	(48,878)
Other comprehensive gain (loss), net of tax:
Foreign currency translation gain (loss)		(2,053)	1,244	(4,562)	5,072
Total other comprehensive gain (loss), net of tax		(2,053)	1,244	(4,562)	5,072
Comprehensive (Loss) Income		$ (20,045)	$ (15,956)	$ (70,167)	$ (43,806)

[1] Net of tax (provision) benefit of $(1,161) and $707 for the three months ended September 30, 2017 and 2016, respectively, and $(2,578) and $2,860 for the nine months ended September 30, 2017 and 2016, respectively.

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Condensed Consolidating Financial Statements - Condensed Consolidating Statements of Cash Flows - (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Condensed Cash Flow Statements Captions [Line Items]
Cash Flows from Operating Activities			$ 311,297	$ 300,707
Cash Flows from Investing Activities
Loans and finance receivables originated or acquired			(998,333)	(987,255)
Loans and finance receivables repaid			672,474	651,865
Change in restricted cash			(3,030)	(32,776)
Purchases of property and equipment	$ (5,503)	$ (3,817)	(10,804)	(11,466)
Other investing activities			1,798	72
Net cash used in investing activities			(337,895)	(379,560)
Cash Flows from Financing Activities
Debt issuance costs paid			(9,564)	(3,516)
Debt prepayment penalty			(11,335)
Treasury shares purchased			(2,115)	(115)
Issuance of senior notes			250,000
Repayments of senior notes			(155,000)
Borrowings under revolving line of credit			30,000	45,000
Repayments under revolving line of credit			(30,000)	(88,400)
Borrowings under securitization facility			137,200	218,961
Repayments under securitization facility			(116,085)	(82,008)
Net cash provided by financing activities			93,101	89,922
Effect of exchange rates on cash			3,617	(7,454)
Net increase in cash and cash equivalents			70,120	3,615
Cash and cash equivalents at beginning of year			39,934	42,066
Cash and cash equivalents at end of period	110,054	45,681	110,054	45,681
Parent
Condensed Cash Flow Statements Captions [Line Items]
Cash Flows from Operating Activities			(17,931)	87,477
Cash Flows from Investing Activities
Capital contributions to subsidiaries				(43,962)
Net cash used in investing activities				(43,962)
Cash Flows from Financing Activities
Debt issuance costs paid			(9,564)
Debt prepayment penalty			(11,335)
Treasury shares purchased			(2,115)	(115)
Issuance of senior notes			250,000
Repayments of senior notes			(155,000)
Borrowings under revolving line of credit			30,000	45,000
Repayments under revolving line of credit			(30,000)	(88,400)
Net cash provided by financing activities			71,986	(43,515)
Net increase in cash and cash equivalents			54,055
Cash and cash equivalents at end of period	54,055		54,055
Guarantor Subsidiaries
Condensed Cash Flow Statements Captions [Line Items]
Cash Flows from Operating Activities			346,948	216,799
Cash Flows from Investing Activities
Loans and finance receivables originated or acquired			(974,211)	(976,614)
Securitized loans transferred			201,518	278,076
Loans and finance receivables repaid			467,011	525,636
Change in restricted cash			(337)	(14,656)
Purchases of property and equipment			(10,651)	(11,262)
Capital contributions to subsidiaries			(11,785)	(8,005)
Other investing activities			1,798	72
Net cash used in investing activities			(326,657)	(206,753)
Cash Flows from Financing Activities
(Payments for) proceeds from member's equity			(9,008)	(176)
Net cash provided by financing activities			(9,008)	(176)
Effect of exchange rates on cash			3,656	(7,670)
Net increase in cash and cash equivalents			14,939	2,200
Cash and cash equivalents at beginning of year			36,057	40,927
Cash and cash equivalents at end of period	50,996	43,127	50,996	43,127
Non-Guarantor Subsidiaries
Condensed Cash Flow Statements Captions [Line Items]
Cash Flows from Operating Activities			(8,712)	40,569
Cash Flows from Investing Activities
Loans and finance receivables originated or acquired			(24,122)	(10,641)
Securitized loans transferred			(201,518)	(278,076)
Loans and finance receivables repaid			205,463	126,229
Change in restricted cash			(2,693)	(18,120)
Purchases of property and equipment			(153)	(204)
Net cash used in investing activities			(23,023)	(180,812)
Cash Flows from Financing Activities
(Payments for) proceeds from member's equity			11,785	8,005
Debt issuance costs paid				(3,516)
Borrowings under securitization facility			137,200	218,961
Repayments under securitization facility			(116,085)	(82,008)
Net cash provided by financing activities			32,900	141,442
Effect of exchange rates on cash			(39)	216
Net increase in cash and cash equivalents			1,126	1,415
Cash and cash equivalents at beginning of year			3,877	1,139
Cash and cash equivalents at end of period	$ 5,003	$ 2,554	5,003	2,554
Eliminations
Condensed Cash Flow Statements Captions [Line Items]
Cash Flows from Operating Activities			(9,008)	(44,138)
Cash Flows from Investing Activities
Capital contributions to subsidiaries			11,785	51,967
Net cash used in investing activities			11,785	51,967
Cash Flows from Financing Activities
(Payments for) proceeds from member's equity			(2,777)	(7,829)
Net cash provided by financing activities			$ (2,777)	$ (7,829)

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Subsequent Events - Additional Information (Detail) - USD ($)	Oct. 20, 2017	Jan. 15, 2016
Subsequent Event [Line Items]
Aggregate availability of variable funding notes		$ 20,000,000
Maximum principal amount of securitization notes outstanding		$ 175,000,000
Subsequent Event | 2017 Securitization Notes
Subsequent Event [Line Items]
Outstanding principal amount	$ 226,400,000
Maximum principal amount of securitization notes outstanding	$ 275,000,000
Debt instrument, basis spread on variable rate	7.50%
Maximum one-time prepayment amount	$ 100,000,000
Subsequent Event | 2017 Securitization Notes | Initial Term Note
Subsequent Event [Line Items]
Debt instrument, face amount	181,100,000
Subsequent Event | 2017 Securitization Notes | Minimum [Member]
Subsequent Event [Line Items]
Aggregate availability of variable funding notes	75,000,000
Subsequent Event | 2017 Securitization Notes | Maximum
Subsequent Event [Line Items]
Aggregate availability of variable funding notes	$ 90,000,000