XML 27 R14.htm IDEA: XBRL DOCUMENT
v3.20.1

Segment Information | 3 Months Ended
--- | ---
Mar. 31, 2020
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 operations in Latin America, which includes operations in Mexico, Guatemala, El Salvador and Colombia.
Corporate expenses, which include administrative expenses, corporate depreciation and amortization, interest expense, interest income, merger and other acquisition expenses and loss (gain) on foreign exchange, are incurred or earned in both the U.S. and Latin America, but presented on a consolidated basis and are not allocated between the U.S. operations segment and Latin America operations segment. The following tables present reportable segment information for the three month period ended March 31, 2020 and 2019 (in thousands):
|  | Three Months Ended March 31, 2020
|  | U.S. Operations |  | Latin America Operations |  | Corporate |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 195,966 |  |  | $ | 100,663 |  |  | $ | — |  |  | $ | 296,629 |
Pawn loan fees |  | 97,857 |  |  | 44,258 |  |  | — |  |  | 142,115 |
Wholesale scrap jewelry sales |  | 15,478 |  |  | 10,893 |  |  | — |  |  | 26,371 |
Consumer loan and credit services fees |  | 1,375 |  |  | — |  |  | — |  |  | 1,375 |
Total revenue |  | 310,676 |  |  | 155,814 |  |  | — |  |  | 466,490 |
Cost of revenue: |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 119,529 |  |  | 65,166 |  |  | — |  |  | 184,695 |
Cost of wholesale scrap jewelry sold |  | 14,006 |  |  | 8,841 |  |  | — |  |  | 22,847 |
Consumer loan and credit services loss provision |  | (361 | ) |  | — |  |  | — |  |  | (361 | )
Total cost of revenue |  | 133,174 |  |  | 74,007 |  |  | — |  |  | 207,181 |
Net revenue |  | 177,502 |  |  | 81,807 |  |  | — |  |  | 259,309 |
Expenses and other income: |  |  |  |  |  |  |  |
Store operating expenses |  | 107,706 |  |  | 45,794 |  |  | — |  |  | 153,500 |
Administrative expenses |  | — |  |  | — |  |  | 32,902 |  |  | 32,902 |
Depreciation and amortization |  | 5,401 |  |  | 4,063 |  |  | 1,210 |  |  | 10,674 |
Interest expense |  | — |  |  | — |  |  | 8,418 |  |  | 8,418 |
Interest income |  | — |  |  | — |  |  | (185 | ) |  | (185 | )
Merger and other acquisition expenses |  | — |  |  | — |  |  | 68 |  |  | 68 |
Loss on foreign exchange |  | — |  |  | — |  |  | 2,685 |  |  | 2,685 |
Write-offs and impairments of certain lease intangibles and other assets |  | — |  |  | — |  |  | 5,530 |  |  | 5,530 |
Total expenses and other income |  | 113,107 |  |  | 49,857 |  |  | 50,628 |  |  | 213,592 |
Income (loss) before income taxes |  | $ | 64,395 |  |  | $ | 31,950 |  |  | $ | (50,628 | ) |  | $ | 45,717 |
|  | Three Months Ended March 31, 2019
|  | U.S. Operations |  | Latin America Operations |  | Corporate |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 186,815 |  |  | $ | 97,426 |  |  | $ | — |  |  | $ | 284,241 |
Pawn loan fees |  | 97,876 |  |  | 43,316 |  |  | — |  |  | 141,192 |
Wholesale scrap jewelry sales |  | 22,785 |  |  | 8,925 |  |  | — |  |  | 31,710 |
Consumer loan and credit services fees |  | 10,461 |  |  | — |  |  | — |  |  | 10,461 |
Total revenue |  | 317,937 |  |  | 149,667 |  |  | — |  |  | 467,604 |
Cost of revenue: |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 117,744 |  |  | 61,605 |  |  | — |  |  | 179,349 |
Cost of wholesale scrap jewelry sold |  | 21,270 |  |  | 9,083 |  |  | — |  |  | 30,353 |
Consumer loan and credit services loss provision |  | 2,103 |  |  | — |  |  | — |  |  | 2,103 |
Total cost of revenue |  | 141,117 |  |  | 70,688 |  |  | — |  |  | 211,805 |
Net revenue |  | 176,820 |  |  | 78,979 |  |  | — |  |  | 255,799 |
Expenses and other income: |  |  |  |  |  |  |  |
Store operating expenses |  | 103,884 |  |  | 42,968 |  |  | — |  |  | 146,852 |
Administrative expenses |  | — |  |  | — |  |  | 32,154 |  |  | 32,154 |
Depreciation and amortization |  | 5,045 |  |  | 3,305 |  |  | 1,524 |  |  | 9,874 |
Interest expense |  | — |  |  | — |  |  | 8,370 |  |  | 8,370 |
Interest income |  | — |  |  | — |  |  | (204 | ) |  | (204 | )
Merger and other acquisition expenses |  | — |  |  | — |  |  | 149 |  |  | 149 |
Gain on foreign exchange |  | — |  |  | — |  |  | (239 | ) |  | (239 | )
Total expenses and other income |  | 108,929 |  |  | 46,273 |  |  | 41,754 |  |  | 196,956 |
Income (loss) before income taxes |  | $ | 67,891 |  |  | $ | 32,706 |  |  | $ | (41,754 | ) |  | $ | 58,843 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration