Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2019

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following tables present reportable segment information for the years ended December 31, 2019, 2018 and 2017 as well as separately identified segment assets (in thousands):



	Year Ended December 31, 2019
	U.S. Operations		Latin America Operations		Corporate			Consolidated
Revenue:
Retail merchandise sales	$	722,127	$	453,434	$	—		$	1,175,561
Pawn loan fees	379,395		185,429		—			564,824
Wholesale scrap jewelry sales	71,813		32,063		—			103,876
Consumer loan and credit services fees ⁽¹⁾	20,178		—		—			20,178
Total revenue	1,193,513		670,926		—			1,864,439

Cost of revenue:
Cost of retail merchandise sold	447,911		297,950		—			745,861
Cost of wholesale scrap jewelry sold	65,941		30,131		—			96,072
Consumer loan and credit services loss provision ⁽¹⁾	4,159		—		—			4,159
Total cost of revenue	518,011		328,081		—			846,092

Net revenue	675,502		342,845		—			1,018,347

Expenses and other income:
Store operating expenses	412,508		183,031		—			595,539
Administrative expenses	—		—		122,334			122,334
Depreciation and amortization	20,860		14,626		6,418			41,904
Interest expense	—		—		34,035			34,035
Interest income	—		—		(1,055		)	(1,055		)
Merger and other acquisition expenses	—		—		1,766			1,766
Loss on foreign exchange	—		—		(787		)	(787		)
Total expenses and other income	433,368		197,657		162,711			793,736

Income (loss) before income taxes	$	242,134	$	145,188	$	(162,711	)	$	224,611



	As of December 31, 2019
	U.S. Operations		Latin America Operations		Corporate		Consolidated
Pawn loans	$	268,793	$	100,734	$	—	$	369,527
Consumer loans, net ⁽¹⁾	751		—		—		751
Inventories	181,320		83,936		—		265,256
Goodwill	771,311		177,332		—		948,643
Total assets	1,767,504		574,059		97,877		2,439,440


⁽¹⁾	The Company ceased offering unsecured consumer lending and credit services products in all of its Ohio locations on April 26, 2019 and closed 52 Ohio locations during the second quarter of 2019.



	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 ⁽¹⁾	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 ⁽¹⁾	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 2017 was reclassified on the consolidated statements of income in order to conform with the presentation for the year ended December 31, 2019. 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

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

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



	Year Ended December 31,
	2019		2018		2017
Revenue:
U.S.	$	1,193,513	$	1,224,135	$	1,292,492
Mexico	641,505		531,744		464,161
Other Latin America	29,421		24,979		23,169
	$	1,864,439	$	1,780,858	$	1,779,822

Long-lived assets:
U.S.	$	254,395	$	226,358	$	227,659
Mexico	80,385		65,260		53,175
Other Latin America	12,893		9,265		3,552
	$	347,673	$	300,883	$	284,386