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Segment Information | 9 Months Ended
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Sep. 30, 2018
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company organizes its operations into two reportable segments as follows:
• | U.S. operations - Includes all pawn and consumer loan operations in the U.S.
• | Latin America operations - Includes all pawn and consumer loan operations in Latin America, which currently includes operations in Mexico, Guatemala, El Salvador and Colombia. Effective June 30, 2018, the Company no longer offers an unsecured consumer loan product in Latin America.
The following tables present reportable segment information for the three and nine month periods ended September 30, 2018 and 2017 (in thousands):
|  | Three Months Ended September 30, 2018
|  | U.S. Operations |  | Latin America Operations |  | Corporate |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 162,001 |  |  | $ | 94,416 |  |  | $ | — |  |  | $ | 256,417 |
Pawn loan fees |  | 93,344 |  |  | 41,269 |  |  | — |  |  | 134,613 |
Wholesale scrap jewelry sales |  | 18,804 |  |  | 5,846 |  |  | — |  |  | 24,650 |
Consumer loan and credit services fees |  | 14,082 |  |  | 116 |  |  | — |  |  | 14,198 |
Total revenue |  | 288,231 |  |  | 141,647 |  |  | — |  |  | 429,878 |
Cost of revenue: |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 102,370 |  |  | 60,917 |  |  | — |  |  | 163,287 |
Cost of wholesale scrap jewelry sold |  | 17,595 |  |  | 6,264 |  |  | — |  |  | 23,859 |
Consumer loan and credit services loss provision |  | 5,420 |  |  | 54 |  |  | — |  |  | 5,474 |
Total cost of revenue |  | 125,385 |  |  | 67,235 |  |  | — |  |  | 192,620 |
Net revenue |  | 162,846 |  |  | 74,412 |  |  | — |  |  | 237,258 |
Expenses and other income: |  |  |  |  |  |  |  |
Store operating expenses |  | 102,955 |  |  | 38,800 |  |  | — |  |  | 141,755 |
Administrative expenses |  | — |  |  | — |  |  | 29,977 |  |  | 29,977 |
Depreciation and amortization |  | 5,285 |  |  | 2,915 |  |  | 2,650 |  |  | 10,850 |
Interest expense |  | — |  |  | — |  |  | 7,866 |  |  | 7,866 |
Interest income |  | — |  |  | — |  |  | (495 | ) |  | (495 | )
Merger and other acquisition expenses |  | — |  |  | — |  |  | 3,222 |  |  | 3,222 |
Total expenses and other income |  | 108,240 |  |  | 41,715 |  |  | 43,220 |  |  | 193,175 |
Income (loss) before income taxes |  | $ | 54,606 |  |  | $ | 32,697 |  |  | $ | (43,220 | ) |  | $ | 44,083 |
|  | Three Months Ended September 30, 2017
|  | U.S. Operations |  | Latin America Operations |  | Corporate |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 160,598 |  |  | $ | 85,736 |  |  | $ | — |  |  | $ | 246,334 |
Pawn loan fees |  | 95,266 |  |  | 37,279 |  |  | — |  |  | 132,545 |
Wholesale scrap jewelry sales |  | 32,397 |  |  | 5,131 |  |  | — |  |  | 37,528 |
Consumer loan and credit services fees |  | 18,525 |  |  | 480 |  |  | — |  |  | 19,005 |
Total revenue |  | 306,786 |  |  | 128,626 |  |  | — |  |  | 435,412 |
Cost of revenue: |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 107,561 |  |  | 53,789 |  |  | — |  |  | 161,350 |
Cost of wholesale scrap jewelry sold |  | 31,518 |  |  | 5,313 |  |  | — |  |  | 36,831 |
Consumer loan and credit services loss provision |  | 6,068 |  |  | 117 |  |  | — |  |  | 6,185 |
Total cost of revenue |  | 145,147 |  |  | 59,219 |  |  | — |  |  | 204,366 |
Net revenue |  | 161,639 |  |  | 69,407 |  |  | — |  |  | 231,046 |
Expenses and other income: |  |  |  |  |  |  |  |
Store operating expenses |  | 104,555 |  |  | 34,411 |  |  | — |  |  | 138,966 |
Administrative expenses |  | — |  |  | — |  |  | 29,999 |  |  | 29,999 |
Depreciation and amortization |  | 5,919 |  |  | 2,704 |  |  | 5,249 |  |  | 13,872 |
Interest expense |  | — |  |  | — |  |  | 6,129 |  |  | 6,129 |
Interest income |  | — |  |  | — |  |  | (418 | ) |  | (418 | )
Merger and other acquisition expenses |  | — |  |  | — |  |  | 911 |  |  | 911 |
Loss on extinguishment of debt |  | — |  |  | — |  |  | 20 |  |  | 20 |
Total expenses and other income |  | 110,474 |  |  | 37,115 |  |  | 41,890 |  |  | 189,479 |
Income (loss) before income taxes |  | $ | 51,165 |  |  | $ | 32,292 |  |  | $ | (41,890 | ) |  | $ | 41,567 |
|  | Nine Months Ended September 30, 2018
|  | U.S. Operations |  | Latin America Operations |  | Corporate |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 514,494 |  |  | $ | 267,506 |  |  | $ | — |  |  | $ | 782,000 |
Pawn loan fees |  | 277,411 |  |  | 110,007 |  |  | — |  |  | 387,418 |
Wholesale scrap jewelry sales |  | 70,394 |  |  | 16,456 |  |  | — |  |  | 86,850 |
Consumer loan and credit services fees |  | 42,522 |  |  | 860 |  |  | — |  |  | 43,382 |
Total revenue |  | 904,821 |  |  | 394,829 |  |  | — |  |  | 1,299,650 |
Cost of revenue: |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 328,258 |  |  | 173,100 |  |  | — |  |  | 501,358 |
Cost of wholesale scrap jewelry sold |  | 64,203 |  |  | 16,227 |  |  | — |  |  | 80,430 |
Consumer loan and credit services loss provision |  | 12,874 |  |  | 221 |  |  | — |  |  | 13,095 |
Total cost of revenue |  | 405,335 |  |  | 189,548 |  |  | — |  |  | 594,883 |
Net revenue |  | 499,486 |  |  | 205,281 |  |  | — |  |  | 704,767 |
Expenses and other income: |  |  |  |  |  |  |  |
Store operating expenses |  | 310,963 |  |  | 106,936 |  |  | — |  |  | 417,899 |
Administrative expenses |  | — |  |  | — |  |  | 87,699 |  |  | 87,699 |
Depreciation and amortization |  | 15,877 |  |  | 8,364 |  |  | 8,844 |  |  | 33,085 |
Interest expense |  | — |  |  | — |  |  | 20,593 |  |  | 20,593 |
Interest income |  | — |  |  | — |  |  | (2,216 | ) |  | (2,216 | )
Merger and other acquisition expenses |  | — |  |  | — |  |  | 5,574 |  |  | 5,574 |
Total expenses and other income |  | 326,840 |  |  | 115,300 |  |  | 120,494 |  |  | 562,634 |
Income (loss) before income taxes |  | $ | 172,646 |  |  | $ | 89,981 |  |  | $ | (120,494 | ) |  | $ | 142,133 |
|  | Nine Months Ended September 30, 2017
|  | U.S. Operations |  | Latin America Operations |  | Corporate |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 519,116 |  |  | $ | 231,034 |  |  | $ | — |  |  | $ | 750,150 |
Pawn loan fees |  | 287,338 |  |  | 96,090 |  |  | — |  |  | 383,428 |
Wholesale scrap jewelry sales |  | 91,430 |  |  | 15,855 |  |  | — |  |  | 107,285 |
Consumer loan and credit services fees |  | 57,425 |  |  | 1,329 |  |  | — |  |  | 58,754 |
Total revenue |  | 955,309 |  |  | 344,308 |  |  | — |  |  | 1,299,617 |
Cost of revenue: |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 337,789 |  |  | 145,669 |  |  | — |  |  | 483,458 |
Cost of wholesale scrap jewelry sold |  | 87,600 |  |  | 14,770 |  |  | — |  |  | 102,370 |
Consumer loan and credit services loss provision |  | 15,115 |  |  | 304 |  |  | — |  |  | 15,419 |
Total cost of revenue |  | 440,504 |  |  | 160,743 |  |  | — |  |  | 601,247 |
Net revenue |  | 514,805 |  |  | 183,565 |  |  | — |  |  | 698,370 |
Expenses and other income: |  |  |  |  |  |  |  |
Store operating expenses |  | 318,044 |  |  | 94,736 |  |  | — |  |  | 412,780 |
Administrative expenses |  | — |  |  | — |  |  | 93,542 |  |  | 93,542 |
Depreciation and amortization |  | 18,759 |  |  | 7,723 |  |  | 16,322 |  |  | 42,804 |
Interest expense |  | — |  |  | — |  |  | 17,827 |  |  | 17,827 |
Interest income |  | — |  |  | — |  |  | (1,138 | ) |  | (1,138 | )
Merger and other acquisition expenses |  | — |  |  | — |  |  | 3,164 |  |  | 3,164 |
Loss on extinguishment of debt |  | — |  |  | — |  |  | 14,114 |  |  | 14,114 |
Total expenses and other income |  | 336,803 |  |  | 102,459 |  |  | 143,831 |  |  | 583,093 |
Income (loss) before income taxes |  | $ | 178,002 |  |  | $ | 81,106 |  |  | $ | (143,831 | ) |  | $ | 115,277 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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