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 (loss) 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
September 30, 2015
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	9,581		$	2,628	$	60,314		$	—		$	72,523
Pawn loan fees and service charges receivable	—			6,435		11,681			—			18,116
Pawn loans	—			55,029		73,341			—			128,370
Consumer loans, net	—			580		534			—			1,114
Inventories	—			37,495		60,693			—			98,188
Prepaid expenses and other current assets	4,420			—		1,785			(390		)	5,815
Deferred tax assets	1,069			—		5,563			—			6,632
Total current assets	15,070			102,167		213,911			(390		)	330,758

Property and equipment, net	3,490			51,318		55,477			—			110,285
Goodwill	—			151,671		140,106			—			291,777
Other non-current assets	5,261			4,038		4,998			—			14,297
Deferred tax assets	—			—		29,187			(21,102		)	8,085
Intercompany receivable	—			—		176,223			(176,223		)	—
Investments in subsidiaries	879,924			—		—			(879,924		)	—
Total assets	$	903,745		$	309,194	$	619,902		$	(1,077,639	)	$	755,202

LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued liabilities	$	19,616		$	7,272	$	19,241		$	—		$	46,129
Income taxes payable	—			—		1,233			(390		)	843
Total current liabilities	19,616			7,272		20,474			(390		)	46,972

Revolving unsecured credit facilities	68,500			—		—			—			68,500
Senior unsecured notes	200,000			—		—			—			200,000
Deferred tax liabilities	244			14,647		6,211			(21,102		)	—
Intercompany payable	176,223			—		—			(176,223		)	—
Total liabilities	464,583			21,919		26,685			(197,715		)	315,472

Stockholders’ equity:
Preferred stock	—			—		—			—			—
Common stock	399			—		—			—			399
Additional paid-in capital	192,787			—		—			—			192,787
Retained earnings	574,584			287,275		642,259			(879,924		)	624,194
Accumulated other comprehensive loss	—			—		(49,042		)	—			(49,042		)
Common stock held in treasury, at cost	(328,608		)	—		—			—			(328,608		)
Total stockholders’ equity	439,162			287,275		593,217			(879,924		)	439,730
Total liabilities and stockholders’ equity	$	903,745		$	309,194	$	619,902		$	(1,077,639	)	$	755,202



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

	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	17,380		$	2,809	$	22,571		$	—		$	42,760
Pawn loan fees and service charges receivable	—			7,480		12,001			—			19,481
Pawn loans	—			57,116		79,865			—			136,981
Consumer loans, net	—			842		668			—			1,510
Inventories	—			34,915		59,975			—			94,890
Prepaid expenses and other current assets	3,708			—		2,584			—			6,292
Deferred tax assets	906			—		5,393			—			6,299
Total current assets	21,994			103,162		183,057			—			308,213

Property and equipment, net	4,050			50,094		60,971			—			115,115
Goodwill	—			158,308		106,567			—			264,875
Other non-current assets	6,354			4,981		5,129			—			16,464
Deferred tax assets	—			—		10,106			(10,106		)	—
Intercompany receivable	—			—		169,711			(169,711		)	—
Investments in subsidiaries	804,310			—		—			(804,310		)	—
Total assets	$	836,708		$	316,545	$	535,541		$	(984,127	)	$	704,667

LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued liabilities	$	19,979		$	6,684	$	23,515		$	—		$	50,178
Total current liabilities	19,979			6,684		23,515			—			50,178

Revolving unsecured credit facility	17,500			—		—			—			17,500
Senior unsecured notes	200,000			—		—			—			200,000
Deferred tax liabilities	64			14,761		2,816			(10,106		)	7,535
Intercompany payable	169,711			—		—			(169,711		)	—
Total liabilities	407,254			21,445		26,331			(179,817		)	275,213

Stockholders’ equity:
Preferred stock	—			—		—			—			—
Common stock	395			—		—			—			395
Additional paid-in capital	182,119			—		—			—			182,119
Retained earnings	543,877			295,100		521,286			(804,310		)	555,953
Accumulated other comprehensive loss	(303		)	—		(12,076		)	—			(12,379		)
Common stock held in treasury, at cost	(296,634		)	—		—			—			(296,634		)
Total stockholders’ equity	429,454			295,100		509,210			(804,310		)	429,454
Total liabilities and stockholders’ equity	$	836,708		$	316,545	$	535,541		$	(984,127	)	$	704,667



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	—			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 (Loss)
Three Months Ended September 30, 2015
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Eliminations		Consolidated
Revenue:
Retail merchandise sales	$	—		$	32,454	$	72,483		$	—	$	104,937
Pawn loan fees	—			18,765		31,117			—		49,882
Consumer loan and credit services fees	—			6,374		621			—		6,995
Wholesale scrap jewelry revenue	—			4,044		3,674			—		7,718
Total revenue	—			61,637		107,895			—		169,532

Cost of revenue:
Cost of retail merchandise sold	—			18,698		46,177			—		64,875
Consumer loan and credit services loss provision	—			2,240		128			—		2,368
Cost of wholesale scrap jewelry sold	—			3,783		3,064			—		6,847
Total cost of revenue	—			24,721		49,369			—		74,090

Net revenue	—			36,916		58,526			—		95,442

Expenses and other income:
Store operating expenses	—			20,064		30,931			—		50,995
Administrative expenses	5,318			—		6,415			—		11,733
Depreciation and amortization	176			1,748		2,713			—		4,637
Goodwill impairment - U.S. consumer loan operations	—			7,913		—			—		7,913
Interest expense	4,336			—		—			—		4,336
Interest income	(1		)	—		(405		)	—		(406		)
Total expenses and other income	9,829			29,725		39,654			—		79,208

Income (loss) before income taxes	(9,829		)	7,191		18,872			—		16,234

Provision for income taxes	(3,288		)	2,660		5,689			—		5,061

Net income (loss)	$	(6,541	)	$	4,531	$	13,183		$	—	$	11,173
Other comprehensive income (loss):
Currency translation adjustment, net of tax expense or benefit	—			—		(13,998		)	—		(13,998		)
Comprehensive income (loss)	$	(6,541	)	$	4,531	$	(815	)	$	—	$	(2,825	)



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

	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Eliminations		Consolidated
Revenue:
Retail merchandise sales	$	—		$	30,698	$	71,252		$	—	$	101,950
Pawn loan fees	—			18,837		32,941			—		51,778
Consumer loan and credit services fees	—			8,636		838			—		9,474
Wholesale scrap jewelry revenue	—			5,988		5,810			—		11,798
Total revenue	—			64,159		110,841			—		175,000

Cost of revenue:
Cost of retail merchandise sold	—			17,264		45,516			—		62,780
Consumer loan and credit services loss provision	—			2,756		157			—		2,913
Cost of wholesale scrap jewelry sold	—			5,381		5,063			—		10,444
Total cost of revenue	—			25,401		50,736			—		76,137

Net revenue	—			38,758		60,105			—		98,863

Expenses and other income:
Store operating expenses	—			18,767		30,526			—		49,293
Administrative expenses	5,598			—		7,808			—		13,406
Depreciation and amortization	218			1,488		2,698			—		4,404
Interest expense	4,059			—		—			—		4,059
Interest income	—			—		(179		)	—		(179		)
Total expenses and other income	9,875			20,255		40,853			—		70,983

Income (loss) before income taxes	(9,875		)	18,503		19,252			—		27,880

Provision for income taxes	(5,021		)	6,477		6,896			—		8,352

Net income (loss)	$	(4,854	)	$	12,026	$	12,356		$	—	$	19,528
Other comprehensive income (loss):
Currency translation adjustment, net of tax expense or benefit	—			—		(4,940		)	—		(4,940		)
Comprehensive income (loss)	$	(4,854	)	$	12,026	$	7,416		$	—	$	14,588



Condensed Consolidating Statement of Comprehensive Income (Loss)
Nine Months Ended September 30, 2015
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Eliminations		Consolidated
Revenue:
Retail merchandise sales	$	—		$	102,233	$	218,783		$	—	$	321,016
Pawn loan fees	—			55,874		90,245			—		146,119
Consumer loan and credit services fees	—			19,358		1,942			—		21,300
Wholesale scrap jewelry revenue	—			12,683		12,060			—		24,743
Total revenue	—			190,148		323,030			—		513,178

Cost of revenue:
Cost of retail merchandise sold	—			58,579		140,178			—		198,757
Consumer loan and credit services loss provision	—			4,777		297			—		5,074
Cost of wholesale scrap jewelry sold	—			11,461		9,627			—		21,088
Total cost of revenue	—			74,817		150,102			—		224,919

Net revenue	—			115,331		172,928			—		288,259

Expenses and other income:
Store operating expenses	—			60,381		94,681			—		155,062
Administrative expenses	19,190			—		21,050			—		40,240
Depreciation and amortization	581			4,831		8,239			—		13,651
Goodwill impairment - U.S. consumer loan operations	—			7,913		—			—		7,913
Interest expense	12,482			—		—			—		12,482
Interest income	(4		)	—		(1,139		)	—		(1,143		)
Total expenses and other income	32,249			73,125		122,831			—		228,205

Income (loss) before income taxes	(32,249		)	42,206		50,097			—		60,054

Provision for income taxes	(11,147		)	15,616		14,285			—		18,754

Net income (loss)	$	(21,102	)	$	26,590	$	35,812		$	—	$	41,300
Other comprehensive income (loss):
Currency translation adjustment, net of tax expense or benefit	—			—		(22,874		)	—		(22,874		)
Comprehensive income (loss)	$	(21,102	)	$	26,590	$	12,938		$	—	$	18,426



Condensed Consolidating Statement of Comprehensive Income (Loss)
Nine Months Ended September 30, 2014
(unaudited, in thousands)

	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Eliminations		Consolidated
Revenue:
Retail merchandise sales	$	—		$	99,314	$	198,532		$	—	$	297,846
Pawn loan fees	—			55,980		90,991			—		146,971
Consumer loan and credit services fees	—			25,164		2,510			—		27,674
Wholesale scrap jewelry revenue	—			19,526		18,086			—		37,612
Total revenue	—			199,984		310,119			—		510,103

Cost of revenue:
Cost of retail merchandise sold	—			55,664		126,699			—		182,363
Consumer loan and credit services loss provision	—			6,373		519			—		6,892
Cost of wholesale scrap jewelry sold	—			16,553		15,055			—		31,608
Total cost of revenue	—			78,590		142,273			—		220,863

Net revenue	—			121,394		167,846			—		289,240

Expenses and other income:
Store operating expenses	—			60,036		86,683			—		146,719
Administrative expenses	18,422			—		21,928			—		40,350
Depreciation and amortization	781			4,277		7,943			—		13,001
Interest expense	9,405			—		—			—		9,405
Interest income	(23		)	—		(499		)	—		(522		)
Total expenses and other income	28,585			64,313		116,055			—		208,953

Income (loss) from continuing operations before income taxes	(28,585		)	57,081		51,791			—		80,287

Provision for income taxes	(12,801		)	19,979		14,612			—		21,790

Income (loss) from continuing operations	(15,784		)	37,102		37,179			—		58,497

Loss from discontinued operations, net of tax	—			—		(272		)	—		(272		)
Net income (loss)	$	(15,784	)	$	37,102	$	36,907		$	—	$	58,225
Other comprehensive income (loss):
Currency translation adjustment, net of tax expense or benefit	—			—		(4,628		)	—		(4,628		)
Comprehensive income (loss)	$	(15,784	)	$	37,102	$	32,279		$	—	$	53,597



Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 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	$	(22,879	)	$	7,381		$	80,620		$	—	$	65,122
Cash flow from investing activities:
Loan receivables, net of cash repayments	—			(550		)	(21,749		)	—		(22,299		)
Purchases of property and equipment	(74		)	(5,175		)	(10,279		)	—		(15,528		)
Acquisitions of pawn stores, net of cash acquired	—			(1,934		)	(31,081		)	—		(33,015		)
Investing activity with subsidiaries	6,091			—			(6,091		)	—		—
Net cash flow provided by (used in) investing activities	6,017			(7,659		)	(69,200		)	—		(70,842		)
Cash flow from financing activities:
Borrowings from revolving credit facilities	82,055			—			—			—		82,055
Repayments of revolving credit facilities	(35,955		)	—			—			—		(35,955		)
Purchases of treasury stock	(31,974		)	—			—			—		(31,974		)
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	18,644			—			—			—		18,644
Effect of exchange rates on cash	—			—			(8,393		)	—		(8,393		)
Change in cash and cash equivalents	1,782			(278		)	3,027			—		4,531
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	$	9,581		$	2,628		$	60,314		$	—	$	72,523



Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 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 (used in) operating activities	$	(210	)	$	18,655		$	50,883		$	—	$	69,328
Cash flow from investing activities:
Loan receivables, net of cash repayments	—			2,237			(26,561		)	—		(24,324		)
Purchases of property and equipment	(676		)	(5,931		)	(11,194		)	—		(17,801		)
Acquisitions of pawn stores, net of cash acquired	—			(16,392		)	(18,481		)	—		(34,873		)
Investing activity with subsidiaries	12,917			—			(12,917		)	—		—
Net cash flow provided by (used in) investing activities	12,241			(20,086		)	(69,153		)	—		(76,998		)
Cash flow from financing activities:
Borrowings from revolving credit facilities	25,500			—			—			—		25,500
Repayments of revolving credit facilities	(190,000		)	—			—			—		(190,000		)
Repayments of notes payable	(8,352		)	—			—			—		(8,352		)
Issuance of senior notes	200,000			—			—			—		200,000
Debt issuance costs paid	(6,601		)	—			—			—		(6,601		)
Purchases of treasury stock	(43,947		)	—			—			—		(43,947		)
Proceeds from exercise of share-based compensation awards	2,262			—			—			—		2,262
Income tax benefit from exercise of stock options	1,813			—			—			—		1,813
Net cash flow used in financing activities	(19,325		)	—			—			—		(19,325		)
Effect of exchange rates on cash	—			—			(888		)	—		(888		)
Change in cash and cash equivalents	(7,294		)	(1,431		)	(19,158		)	—		(27,883		)
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	$	17,380		$	2,809		$	22,571		$	—	$	42,760