Segment Information (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following tables present reportable segment information for the three and six month periods ended June 30, 2019 and 2018 (in thousands):



	Three Months Ended June 30, 2019
	U.S. Operations		Latin America Operations		Corporate			Consolidated
Revenue:
Retail merchandise sales	$	168,918	$	109,836	$	—		$	278,754
Pawn loan fees	90,126		46,797		—			136,923
Wholesale scrap jewelry sales	15,788		9,193		—			24,981
Consumer loan and credit services fees	5,356		—		—			5,356
Total revenue	280,188		165,826		—			446,014

Cost of revenue:
Cost of retail merchandise sold	104,662		71,610		—			176,272
Cost of wholesale scrap jewelry sold	14,853		9,081		—			23,934
Consumer loan and credit services loss provision	1,503		—		—			1,503
Total cost of revenue	121,018		80,691		—			201,709

Net revenue	159,170		85,135		—			244,305

Expenses and other income:
Store operating expenses	103,009		45,338		—			148,347
Administrative expenses	—		—		31,696			31,696
Depreciation and amortization	5,269		3,579		1,662			10,510
Interest expense	—		—		8,548			8,548
Interest income	—		—		(155		)	(155		)
Merger and other acquisition expenses	—		—		556			556
Gain on foreign exchange	—		—		(483		)	(483		)
Total expenses and other income	108,278		48,917		41,824			199,019

Income (loss) before income taxes	$	50,892	$	36,218	$	(41,824	)	$	45,286



	Three Months Ended June 30, 2018
	U.S. Operations		Latin America Operations		Corporate			Consolidated
Revenue:
Retail merchandise sales	$	166,441	$	89,301	$	—		$	255,742
Pawn loan fees	87,825		35,187		—			123,012
Wholesale scrap jewelry sales	22,133		5,342		—			27,475
Consumer loan and credit services fees	13,401		342		—			13,743
Total revenue	289,800		130,172		—			419,972

Cost of revenue:
Cost of retail merchandise sold	105,272		58,302		—			163,574
Cost of wholesale scrap jewelry sold	18,955		5,121		—			24,076
Consumer loan and credit services loss provision	3,810		84		—			3,894
Total cost of revenue	128,037		63,507		—			191,544

Net revenue	161,763		66,665		—			228,428

Expenses and other income:
Store operating expenses ⁽¹⁾	103,625		34,418		—			138,043
Administrative expenses	—		—		29,720			29,720
Depreciation and amortization	5,037		2,740		3,175			10,952
Interest expense	—		—		6,529			6,529
Interest income	—		—		(740		)	(740		)
Merger and other acquisition expenses	—		—		2,113			2,113
Gain on foreign exchange ⁽¹⁾	—		—		(460		)	(460		)
Total expenses and other income	108,662		37,158		40,337			186,157

Income (loss) before income taxes	$	53,101	$	29,507	$	(40,337	)	$	42,271

⁽¹⁾

The gain on foreign exchange for the Latin America operations segment of $0.5 million for the three months ended June 30, 2018 was reclassified on the consolidated statements of income in order to conform with the presentation for the three months ended June 30, 2019. The gain on foreign exchange was reclassified from store operating expenses and reported separately on the consolidated statements of income.



	Six Months Ended June 30, 2019
	U.S. Operations		Latin America Operations		Corporate			Consolidated
Revenue:
Retail merchandise sales	$	355,733	$	207,262	$	—		$	562,995
Pawn loan fees	188,002		90,113		—			278,115
Wholesale scrap jewelry sales	38,573		18,118		—			56,691
Consumer loan and credit services fees	15,817		—		—			15,817
Total revenue	598,125		315,493		—			913,618

Cost of revenue:
Cost of retail merchandise sold	222,406		133,215		—			355,621
Cost of wholesale scrap jewelry sold	36,123		18,164		—			54,287
Consumer loan and credit services loss provision	3,606		—		—			3,606
Total cost of revenue	262,135		151,379		—			413,514

Net revenue	335,990		164,114		—			500,104

Expenses and other income:
Store operating expenses	206,893		88,306		—			295,199
Administrative expenses	—		—		63,850			63,850
Depreciation and amortization	10,314		6,884		3,186			20,384
Interest expense	—		—		16,918			16,918
Interest income	—		—		(359		)	(359		)
Merger and other acquisition expenses	—		—		705			705
Gain on foreign exchange	—		—		(722		)	(722		)
Total expenses and other income	217,207		95,190		83,578			395,975

Income (loss) before income taxes	$	118,783	$	68,924	$	(83,578	)	$	104,129



	Six Months Ended June 30, 2018
	U.S. Operations		Latin America Operations		Corporate			Consolidated
Revenue:
Retail merchandise sales	$	352,493	$	173,090	$	—		$	525,583
Pawn loan fees	184,067		68,738		—			252,805
Wholesale scrap jewelry sales	51,590		10,610		—			62,200
Consumer loan and credit services fees	28,440		744		—			29,184
Total revenue	616,590		253,182		—			869,772

Cost of revenue:
Cost of retail merchandise sold	225,888		112,183		—			338,071
Cost of wholesale scrap jewelry sold	46,608		9,963		—			56,571
Consumer loan and credit services loss provision	7,454		167		—			7,621
Total cost of revenue	279,950		122,313		—			402,263

Net revenue	336,640		130,869		—			467,509

Expenses and other income:
Store operating expenses ⁽¹⁾	208,008		68,383		—			276,391
Administrative expenses	—		—		57,722			57,722
Depreciation and amortization	10,592		5,449		6,194			22,235
Interest expense	—		—		12,727			12,727
Interest income	—		—		(1,721		)	(1,721		)
Merger and other acquisition expenses	—		—		2,352			2,352
Gain on foreign exchange⁽¹⁾	—		—		(247		)	(247		)
Total expenses and other income	218,600		73,832		77,027			369,459

Income (loss) before income taxes	$	118,040	$	57,037	$	(77,027	)	$	98,050

⁽¹⁾

The gain on foreign exchange for the Latin America operations segment of $0.2 million for the six months ended June 30, 2018 was reclassified on the consolidated statements of income in order to conform with the presentation for the six months ended June 30, 2019. The gain on foreign exchange was reclassified from store operating expenses and reported separately on the consolidated statements of income.