Condensed Consolidating Guarantor Financial Statements

In connection with the issuance of the Notes, certain of the Company’s domestic subsidiaries (collectively, “Guarantor Subsidiaries”), fully, unconditionally, jointly and severally guaranteed the payment obligations under the Notes. Each of the Guarantor Subsidiaries is 100% owned, directly or indirectly, by the Company. The following supplemental financial information sets forth, on a consolidating basis, the balance sheets, statements of comprehensive income and statements of cash flows of First Cash Financial Services, Inc. (the “Parent Company”), the Guarantor Subsidiaries and the Parent Company’s other subsidiaries (the “Non-Guarantor Subsidiaries”).

The supplemental condensed consolidating financial information has been prepared pursuant to SEC rules and regulations for interim condensed financial information and does not include the more complete disclosures included in annual financial statements. Investments in consolidated subsidiaries have been presented under the equity method of accounting. The principal eliminating entries eliminate investments in subsidiaries, intercompany balances and intercompany revenues and expenses. The condensed financial information may not necessarily be indicative of the results of operations or financial position had the Guarantor Subsidiaries or Non-Guarantor Subsidiaries operated as independent entities.



Condensed Consolidating Balance Sheet
June 30, 2015
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	5,704		$	2,465	$	69,261		$	—		$	77,430
Pawn loan fees and service charges receivable	—			6,594		11,017			—			17,611
Pawn loans	—			53,463		71,506			—			124,969
Consumer loans, net	—			510		560			—			1,070
Inventories	—			32,143		55,937			—			88,080
Prepaid expenses and other current assets	2,789			—		1,064			—			3,853
Deferred tax assets	1,069			—		5,940			—			7,009
Total current assets	9,562			95,175		215,285			—			320,022

Property and equipment, net	4,082			50,655		57,017			—			111,754
Goodwill, net	—			158,568		141,810			—			300,378
Other non-current assets	5,483			4,270		5,421			—			15,174
Deferred tax assets	—			—		21,636			(19,390		)	2,246
Intercompany receivable	—			—		175,054			(175,054		)	—
Investments in subsidiaries	879,127			—		—			(879,127		)	—
Total assets	$	898,254		$	308,668	$	616,223		$	(1,073,571	)	$	749,574

LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued liabilities	$	13,366		$	6,696	$	19,434		$	—		$	39,496
Income taxes payable	1,088			—		245			—			1,333
Total current liabilities	14,454			6,696		19,679			—			40,829

Revolving unsecured credit facilities	56,000			—		—			—			56,000
Senior unsecured notes	200,000			—		—			—			200,000
Deferred tax liabilities	—			13,322		6,068			(19,390		)	—
Intercompany payable	175,054			—		—			(175,054		)	—
Total liabilities	445,508			20,018		25,747			(194,444		)	296,829

Stockholders’ equity:
Preferred stock	—			—		—			—			—
Common stock	399			—		—			—			399
Additional paid-in capital	193,977			—		—			—			193,977
Retained earnings	577,978			288,650		625,520			(879,127		)	613,021
Accumulated other comprehensive loss	—			—		(35,044		)	—			(35,044		)
Common stock held in treasury, at cost	(319,608		)	—		—			—			(319,608		)
Total stockholders’ equity	452,746			288,650		590,476			(879,127		)	452,745
Total liabilities and stockholders’ equity	$	898,254		$	308,668	$	616,223		$	(1,073,571	)	$	749,574



Condensed Consolidating Balance Sheet
June 30, 2014
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	37,132		$	2,555	$	44,368		$	—		$	84,055
Pawn loan fees and service charges receivable	—			7,014		10,794			—			17,808
Pawn loans	—			53,764		70,137			—			123,901
Consumer loans, net	—			665		674			—			1,339
Inventories	—			30,115		47,472			—			77,587
Prepaid expenses and other current assets	1,717			—		7			—			1,724
Deferred tax assets	906			—		4,442			—			5,348
Total current assets	39,755			94,113		177,894			—			311,762

Property and equipment, net	4,188			49,246		59,054			—			112,488
Goodwill, net	—			152,981		101,937			—			254,918
Other non-current assets	—			11,380		4,179			—			15,559
Deferred tax assets	—			—		7,071			(7,071		)	—
Intercompany receivable	—			—		165,480			(165,480		)	—
Investments in subsidiaries	778,645			—		—			(778,645		)	—
Total assets	$	822,588		$	307,720	$	515,615		$	(951,196	)	$	694,727

LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued liabilities	$	14,689		$	9,386	$	18,325		$	—		$	42,400
Total current liabilities	14,689			9,386		18,325			—			42,400

Senior unsecured notes	200,000			—		—			—			200,000
Deferred tax liabilities	62			14,177		2,802			(7,071		)	9,970
Intercompany payable	165,480			—		—			(165,480		)	—
Total liabilities	380,231			23,563		21,127			(172,551		)	252,370

Stockholders’ equity:
Preferred stock	—			—		—			—			—
Common stock	394			—		—			—			394
Additional paid-in capital	178,978			—		—			—			178,978
Retained earnings	529,289			284,157		501,624			(778,645		)	536,425
Accumulated other comprehensive loss	(303		)	—		(7,136		)	—			(7,439		)
Common stock held in treasury, at cost	(266,001		)	—		—			—			(266,001		)
Total stockholders’ equity	442,357			284,157		494,488			(778,645		)	442,357
Total liabilities and stockholders’ equity	$	822,588		$	307,720	$	515,615		$	(951,196	)	$	694,727



Condensed Consolidating Balance Sheet
December 31, 2014
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	7,799		$	2,906	$	57,287		$	—		$	67,992
Pawn loan fees and service charges receivable	—			7,120		9,806			—			16,926
Pawn loans	—			55,709		62,827			—			118,536
Consumer loans, net	—			655		586			—			1,241
Inventories	—			35,206		55,882			—			91,088
Prepaid expenses and other current assets	1,881			—		3,089			—			4,970
Deferred tax assets	1,069			—		6,053			—			7,122
Total current assets	10,749			101,596		195,530			—			307,875

Property and equipment, net	3,997			50,184		59,569			—			113,750
Goodwill, net	—			158,308		118,574			—			276,882
Other non-current assets	5,967			4,744		5,457			—			16,168
Deferred tax assets	—			—		17,127			(17,127		)	—
Intercompany receivable	—			—		170,132			(170,132		)	—
Investments in subsidiaries	837,486			—		—			(837,486		)	—
Total assets	$	858,199		$	314,832	$	566,389		$	(1,024,745	)	$	714,675

LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued liabilities	$	16,940		$	6,459	$	19,160		$	—		$	42,559
Total current liabilities	16,940			6,459		19,160			—			42,559

Revolving unsecured credit facility	22,400			—		—			—			22,400
Senior unsecured notes	200,000			—		—			—			200,000
Deferred tax liabilities	176			14,069		4,047			(17,127		)	1,165
Intercompany payable	170,132			—		—			(170,132		)	—
Total liabilities	409,648			20,528		23,207			(187,259		)	266,124

Stockholders’ equity:
Preferred stock	—			—		—			—			—
Common stock	397			—		—			—			397
Additional paid-in capital	188,062			—		—			—			188,062
Retained earnings	556,726			294,304		569,350			(837,486		)	582,894
Accumulated other comprehensive loss	—			—		(26,168		)	—			(26,168		)
Common stock held in treasury, at cost	(296,634		)	—		—			—			(296,634		)
Total stockholders’ equity	448,551			294,304		543,182			(837,486		)	448,551
Total liabilities and stockholders’ equity	$	858,199		$	314,832	$	566,389		$	(1,024,745	)	$	714,675



Condensed Consolidating Statement of Comprehensive Income
Three Months Ended June 30, 2015
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Eliminations		Consolidated
Revenue:
Retail merchandise sales	$	—		$	32,203	$	73,422		$	—	$	105,625
Pawn loan fees	—			17,840		29,743			—		47,583
Consumer loan and credit services fees	—			6,040		670			—		6,710
Wholesale scrap jewelry revenue	—			3,811		3,894			—		7,705
Total revenue	—			59,894		107,729			—		167,623

Cost of revenue:
Cost of retail merchandise sold	—			18,422		47,214			—		65,636
Consumer loan and credit services loss provision	—			1,616		93			—		1,709
Cost of wholesale scrap jewelry sold	—			3,261		2,971			—		6,232
Total cost of revenue	—			23,299		50,278			—		73,577

Net revenue	—			36,595		57,451			—		94,046

Expenses and other income:
Store operating expenses	—			19,894		31,852			—		51,746
Administrative expenses	7,300			—		7,369			—		14,669
Depreciation and amortization	186			1,562		2,719			—		4,467
Interest expense	4,126			—		—			—		4,126
Interest income	(2		)	—		(391		)	—		(393		)
Total expenses and other income	11,610			21,456		41,549			—		74,615

Income (loss) before income taxes	(11,610		)	15,139		15,902			—		19,431

Provision for income taxes	(4,141		)	5,602		4,631			—		6,092

Net income (loss)	$	(7,469	)	$	9,537	$	11,271		$	—	$	13,339
Other comprehensive income (loss):
Currency translation adjustment, net of tax expense or benefit	—			—		(4,327		)	—		(4,327		)
Comprehensive income (loss)	$	(7,469	)	$	9,537	$	6,944		$	—	$	9,012



Condensed Consolidating Statement of Comprehensive Income
Three Months Ended June 30, 2014
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Eliminations		Consolidated
Revenue:
Retail merchandise sales	$	—		$	31,258		$	65,930		$	—	$	97,188
Pawn loan fees	—			17,677			29,878			—		47,555
Consumer loan and credit services fees	—			7,565			851			—		8,416
Wholesale scrap jewelry revenue	—			6,031			6,136			—		12,167
Total revenue	—			62,531			102,795			—		165,326

Cost of revenue:
Cost of retail merchandise sold	—			17,264			41,829			—		59,093
Consumer loan and credit services loss provision	—			2,052			184			—		2,236
Cost of wholesale scrap jewelry sold	—			5,053			5,023			—		10,076
Total cost of revenue	—			24,369			47,036			—		71,405

Net revenue	—			38,162			55,759			—		93,921

Expenses and other income:
Store operating expenses	—			20,082			28,852			—		48,934
Administrative expenses	5,773			—			7,842			—		13,615
Depreciation and amortization	273			1,339			2,713			—		4,325
Interest expense	3,910			—			—			—		3,910
Interest income	6			(25		)	(243		)	—		(262		)
Total expenses and other income	9,962			21,396			39,164			—		70,522

Income (loss) before income taxes	(9,962		)	16,766			16,595			—		23,399

Provision for income taxes	(1,283		)	5,868			2,799			—		7,384

Net income (loss)	$	(8,679	)	$	10,898		$	13,796		$	—	$	16,015
Other comprehensive income (loss):
Currency translation adjustment, net of tax expense or benefit	—			—			567			—		567
Comprehensive income (loss)	$	(8,679	)	$	10,898		$	14,363		$	—	$	16,582



Condensed Consolidating Statement of Comprehensive Income
Six Months Ended June 30, 2015
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Eliminations		Consolidated
Revenue:
Retail merchandise sales	$	—		$	69,779	$	146,300		$	—	$	216,079
Pawn loan fees	—			37,109		59,128			—		96,237
Consumer loan and credit services fees	—			12,984		1,321			—		14,305
Wholesale scrap jewelry revenue	—			8,639		8,386			—		17,025
Total revenue	—			128,511		215,135			—		343,646

Cost of revenue:
Cost of retail merchandise sold	—			39,881		94,001			—		133,882
Consumer loan and credit services loss provision	—			2,537		169			—		2,706
Cost of wholesale scrap jewelry sold	—			7,678		6,563			—		14,241
Total cost of revenue	—			50,096		100,733			—		150,829

Net revenue	—			78,415		114,402			—		192,817

Expenses and other income:
Store operating expenses	—			40,317		63,750			—		104,067
Administrative expenses	13,872			—		14,635			—		28,507
Depreciation and amortization	405			3,083		5,526			—		9,014
Interest expense	8,146			—		—			—		8,146
Interest income	(3		)	—		(734		)	—		(737		)
Total expenses and other income	22,420			43,400		83,177			—		148,997

Income (loss) before income taxes	(22,420		)	35,015		31,225			—		43,820

Provision for income taxes	(7,859		)	12,956		8,596			—		13,693

Net income (loss)	$	(14,561	)	$	22,059	$	22,629		$	—	$	30,127
Other comprehensive income (loss):
Currency translation adjustment, net of tax expense or benefit	—			—		(8,876		)	—		(8,876		)
Comprehensive income (loss)	$	(14,561	)	$	22,059	$	13,753		$	—	$	21,251



Condensed Consolidating Statement of Comprehensive Income
Six Months Ended June 30, 2014
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Eliminations		Consolidated
Revenue:
Retail merchandise sales	$	—		$	68,616	$	127,280		$	—	$	195,896
Pawn loan fees	—			37,143		58,050			—		95,193
Consumer loan and credit services fees	—			16,528		1,672			—		18,200
Wholesale scrap jewelry revenue	—			13,538		12,276			—		25,814
Total revenue	—			135,825		199,278			—		335,103

Cost of revenue:
Cost of retail merchandise sold	—			38,400		81,183			—		119,583
Consumer loan and credit services loss provision	—			3,617		362			—		3,979
Cost of wholesale scrap jewelry sold	—			11,172		9,992			—		21,164
Total cost of revenue	—			53,189		91,537			—		144,726

Net revenue	—			82,636		107,741			—		190,377

Expenses and other income:
Store operating expenses	—			41,269		56,157			—		97,426
Administrative expenses	12,824			—		14,120			—		26,944
Depreciation and amortization	563			2,789		5,245			—		8,597
Interest expense	5,346			—		—			—		5,346
Interest income	(23		)	—		(320		)	—		(343		)
Total expenses and other income	18,710			44,058		75,202			—		137,970

Income (loss) from continuing operations before income taxes	(18,710		)	38,578		32,539			—		52,407

Provision for income taxes	(7,780		)	13,502		7,716			—		13,438

Income (loss) from continuing operations	(10,930		)	25,076		24,823			—		38,969

Loss from discontinued operations, net of tax	—			—		(272		)	—		(272		)
Net income (loss)	$	(10,930	)	$	25,076	$	24,551		$	—	$	38,697
Other comprehensive income (loss):
Currency translation adjustment, net of tax expense or benefit	—			—		312			—		312
Comprehensive income (loss)	$	(10,930	)	$	25,076	$	24,863		$	—	$	39,009



Condensed Consolidating Statement of Cash Flows
Six Months Ended June 30, 2015
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Eliminations		Consolidated
Cash flow from operating activities:
Net cash flow provided by (used in) operating activities	$	(21,671	)	$	(1,300	)	$	64,880		$	—	$	41,909
Cash flow from investing activities:
Loan receivables, net of cash repayments	—			4,421			(8,392		)	—		(3,971		)
Purchases of property and equipment	(490		)	(3,043		)	(5,067		)	—		(8,600		)
Acquisitions of pawn stores, net of cash acquired	—			(519		)	(31,081		)	—		(31,600		)
Investing activity with subsidiaries	4,922			—			(4,922		)	—		—
Net cash flow provided by (used in) investing activities	4,432			859			(49,462		)	—		(44,171		)
Cash flow from financing activities:
Borrowings from revolving credit facilities	63,055			—			—			—		63,055
Repayments of revolving credit facilities	(29,455		)	—			—			—		(29,455		)
Purchases of treasury stock	(22,974		)	—			—			—		(22,974		)
Proceeds from exercise of share-based compensation awards	2,901			—			—			—		2,901
Income tax benefit from exercise of stock options	1,617			—			—			—		1,617
Net cash flow provided by financing activities	15,144			—			—			—		15,144
Effect of exchange rates on cash	—			—			(3,444		)	—		(3,444		)
Change in cash and cash equivalents	(2,095		)	(441		)	11,974			—		9,438
Cash and cash equivalents at beginning of the period	7,799			2,906			57,287			—		67,992
Cash and cash equivalents at end of the period	$	5,704		$	2,465		$	69,261		$	—	$	77,430



Condensed Consolidating Statement of Cash Flows
Six Months Ended June 30, 2014
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Eliminations		Consolidated
Cash flow from operating activities:
Net cash flow provided by operating activities	$	13,042		$	2,883		$	32,614		$	—	$	48,539
Cash flow from investing activities:
Loan receivables, net of cash repayments	—			5,966			(13,924		)	—		(7,958		)
Purchases of property and equipment	(596		)	(4,145		)	(7,318		)	—		(12,059		)
Acquisitions of pawn stores, net of cash acquired	—			(6,389		)	—			—		(6,389		)
Investing activity with subsidiaries	8,686			—			(8,686		)	—		—
Net cash flow provided by (used in) investing activities	8,090			(4,568		)	(29,928		)	—		(26,406		)
Cash flow from financing activities:
Borrowings from revolving credit facilities	2,500			—			—			—		2,500
Repayments of revolving credit facilities	(184,500		)	—			—			—		(184,500		)
Repayments of notes payable	(8,352		)	—			—			—		(8,352		)
Issuance of senior notes	200,000			—			—			—		200,000
Debt issuance costs paid	(6,397		)	—			—			—		(6,397		)
Purchases of treasury stock	(13,314		)	—			—			—		(13,314		)
Proceeds from exercise of share-based compensation awards	712			—			—			—		712
Income tax benefit from exercise of stock options	677			—			—			—		677
Net cash flow used in financing activities	(8,674		)	—			—			—		(8,674		)
Effect of exchange rates on cash	—			—			(47		)	—		(47		)
Change in cash and cash equivalents	12,458			(1,685		)	2,639			—		13,412
Cash and cash equivalents at beginning of the period	24,674			4,240			41,729			—		70,643
Cash and cash equivalents at end of the period	$	37,132		$	2,555		$	44,368		$	—	$	84,055