SEGMENT AND GEOGRAPHIC 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 includes operations in Mexico, Guatemala, El Salvador and Colombia.

The following tables present reportable segment information for the fiscal years ended December 31, 2018, 2017 and 2016 as well as separately identified segment assets (in thousands):



	Year Ended December 31, 2018
	U.S. Operations		Latin America Operations		Corporate			Consolidated
Revenue:
Retail merchandise sales	$	709,594	$	382,020	$	—		$	1,091,614
Pawn loan fees	373,406		151,740		—			525,146
Wholesale scrap jewelry sales	85,718		22,103		—			107,821
Consumer loan and credit services fees	55,417		860		—			56,277
Total revenue	1,224,135		556,723		—			1,780,858

Cost of revenue:
Cost of retail merchandise sold	450,516		246,150		—			696,666
Cost of wholesale scrap jewelry sold	78,308		21,656		—			99,964
Consumer loan and credit services loss provision	17,223		238		—			17,461
Total cost of revenue	546,047		268,044		—			814,091

Net revenue	678,088		288,679		—			966,767

Expenses and other income:
Store operating expenses	414,097		149,224		—			563,321
Administrative expenses	—		—		120,042			120,042
Depreciation and amortization	21,021		11,333		10,607			42,961
Interest expense	—		—		29,173			29,173
Interest income	—		—		(2,444		)	(2,444		)
Merger and other acquisition expenses	—		—		7,643			7,643
Loss on foreign exchange	—		—		762			762
Total expenses and other income	435,118		160,557		165,783			761,458

Income (loss) before income taxes	$	242,970	$	128,122	$	(165,783	)	$	205,309



	As of December 31, 2018
	U.S. Operations		Latin America Operations		Corporate		Consolidated
Pawn loans	$	271,584	$	91,357	$	—	$	362,941
Consumer loans, net ⁽¹⁾	15,902		—		—		15,902
Inventories	199,978		75,152		—		275,130
Goodwill	759,538		157,881		—		917,419
Total assets	1,534,542		407,282		166,150		2,107,974


⁽¹⁾	Effective June 30, 2018, the Company no longer offers an unsecured consumer loan product in Latin America.



	Year Ended December 31, 2017
	U.S. Operations		Latin America Operations		Corporate			Consolidated
Revenue:
Retail merchandise sales	$	717,490	$	333,609	$	—		$	1,051,099
Pawn loan fees	380,596		130,309		—			510,905
Wholesale scrap jewelry sales	119,197		21,645		—			140,842
Consumer loan and credit services fees	75,209		1,767		—			76,976
Total revenue	1,292,492		487,330		—			1,779,822

Cost of revenue:
Cost of retail merchandise sold	468,527		211,176		—			679,703
Cost of wholesale scrap jewelry sold	112,467		20,327		—			132,794
Consumer loan and credit services loss provision	19,431		388		—			19,819
Total cost of revenue	600,425		231,891		—			832,316

Net revenue	692,067		255,439		—			947,506

Expenses and other income:
Store operating expenses ⁽¹⁾	423,214		128,977		—			552,191
Administrative expenses	—		—		122,473			122,473
Depreciation and amortization	24,073		10,311		20,849			55,233
Interest expense	—		—		24,035			24,035
Interest income	—		—		(1,597		)	(1,597		)
Merger and other acquisition expenses	—		—		9,062			9,062
Gain on foreign exchange ⁽¹⁾	—		—		(317		)	(317		)
Loss on extinguishment of debt	—		—		14,114			14,114
Total expenses and other income	447,287		139,288		188,619			775,194

Income (loss) before income taxes	$	244,780	$	116,151	$	(188,619	)	$	172,312


⁽¹⁾	The gain on foreign exchange for the Latin America operations segment of $0.3 million for fiscal 2017 was reclassified on the consolidated statements of income in order to conform with the presentation for the year ended December 31, 2018. The gain on foreign exchange was reclassified from store operating expenses and reported separately on the consolidated statements of income.



	As of December 31, 2017
	U.S. Operations		Latin America Operations		Corporate		Consolidated
Pawn loans	$	276,570	$	68,178	$	—	$	344,748
Consumer loans, net	23,179		343		—		23,522
Inventories	216,739		60,032		—		276,771
Goodwill	743,997		87,148		—		831,145
Total assets	1,527,012		282,605		253,167		2,062,784



	Year Ended December 31, 2016
	U.S. Operations		Latin America Operations		Corporate			Consolidated
Revenue:
Retail merchandise sales	$	386,026	$	283,105	$	—		$	669,131
Pawn loan fees	195,883		116,874		—			312,757
Wholesale scrap jewelry sales	47,680		14,958		—			62,638
Consumer loan and credit services fees	41,922		1,929		—			43,851
Total revenue	671,511		416,866		—			1,088,377

Cost of revenue:
Cost of retail merchandise sold	241,086		177,470		—			418,556
Cost of wholesale scrap jewelry sold	41,357		11,668		—			53,025
Consumer loan and credit services loss provision	11,494		499		—			11,993
Total cost of revenue	293,937		189,637		—			483,574

Net revenue	377,574		227,229		—			604,803

Expenses and other income:
Store operating expenses ⁽¹⁾	215,227		111,835		—			327,062
Administrative expenses	—		—		96,537			96,537
Depreciation and amortization	13,618		10,429		7,818			31,865
Interest expense	—		—		20,320			20,320
Interest income	—		—		(751		)	(751		)
Merger and other acquisition expenses	—		—		36,670			36,670
Loss on foreign exchange⁽¹⁾	—		—		952			952
Net gain on sale of common stock of Enova	—		—		(1,299		)	(1,299		)
Total expenses and other income	228,845		122,264		160,247			511,356

Income (loss) before income taxes	$	148,729	$	104,965	$	(160,247	)	$	93,447


⁽¹⁾	The loss on foreign exchange for the Latin America operations segment of $1.0 million for fiscal 2016 was reclassified on the consolidated statements of income in order to conform with the presentation for the year ended December 31, 2018. The loss on foreign exchange was reclassified from store operating expenses and reported separately on the consolidated statements of income.



	As of December 31, 2016
	U.S. Operations		Latin America Operations		Corporate		Consolidated
Pawn loans	$	293,392	$	57,114	$	—	$	350,506
Consumer loans, net	28,847		357		—		29,204
Inventories	282,860		47,823		—		330,683
Goodwill	746,204		84,947		—		831,151
Total assets	1,637,995		247,915		259,293		2,145,203

Geographic Information

The following table shows revenue and long-lived assets (all non-current assets except goodwill, intangibles, net and deferred tax assets) by geographic area (in thousands):



	Year Ended December 31,
	2018		2017		2016
Revenue:
U.S.	$	1,224,135	$	1,292,492	$	671,511
Mexico	531,744		464,161		397,549
Other Latin America	24,979		23,169		19,317
	$	1,780,858	$	1,779,822	$	1,088,377

Long-lived assets:
U.S.	$	226,358	$	227,659	$	257,939
Mexico	65,260		53,175		47,243
Other Latin America	9,265		3,552		2,554
	$	300,883	$	284,386	$	307,736