XML 26 R14.htm IDEA: XBRL DOCUMENT
v3.21.2

Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2021
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company organizes its operations into two reportable segments as follows: •U.S. operations •Latin America operations - includes operations in Mexico, Guatemala, Colombia and El Salvador Corporate expenses and income, which include administrative expenses, corporate depreciation and amortization, interest expense, interest income, merger and acquisition expenses, loss (gain) on foreign exchange, write-offs of certain lease intangibles and impairments of certain other assets, 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 and nine month periods ended September 30, 2021 and 2020 (in thousands):
|  | Three Months Ended September 30, 2021
|  | U.S. Operations |  | Latin America Operations |  | Corporate |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 167,257 |  |  | $ | 101,469 |  |  | $ | — |  |  | $ | 268,726 |
Pawn loan fees |  | 76,674 |  |  | 44,691 |  |  | — |  |  | 121,365 |
Wholesale scrap jewelry sales |  | 4,168 |  |  | 5,415 |  |  | — |  |  | 9,583 |
Total revenue |  | 248,099 |  |  | 151,575 |  |  | — |  |  | 399,674 |
Cost of revenue: |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 93,326 |  |  | 64,731 |  |  | — |  |  | 158,057 |
Cost of wholesale scrap jewelry sold |  | 3,778 |  |  | 4,750 |  |  | — |  |  | 8,528 |
Total cost of revenue |  | 97,104 |  |  | 69,481 |  |  | — |  |  | 166,585 |
Net revenue |  | 150,995 |  |  | 82,094 |  |  | — |  |  | 233,089 |
Expenses and other income: |  |  |  |  |  |  |  |
Store operating expenses |  | 93,247 |  |  | 45,372 |  |  | — |  |  | 138,619 |
Administrative expenses |  | — |  |  | — |  |  | 30,208 |  |  | 30,208 |
Depreciation and amortization |  | 5,662 |  |  | 4,591 |  |  | 964 |  |  | 11,217 |
Interest expense |  | — |  |  | — |  |  | 7,961 |  |  | 7,961 |
Interest income |  | — |  |  | — |  |  | (143) |  |  | (143) |
Merger and acquisition expenses |  | — |  |  | — |  |  | 12 |  |  | 12 |
Loss on foreign exchange |  | — |  |  | — |  |  | 558 |  |  | 558 |
Write-off of certain Cash America merger related lease intangibles |  | — |  |  | — |  |  | 361 |  |  | 361 |
Total expenses and other income |  | 98,909 |  |  | 49,963 |  |  | 39,921 |  |  | 188,793 |
Income (loss) before income taxes |  | $ | 52,086 |  |  | $ | 32,131 |  |  | $ | (39,921) |  |  | $ | 44,296 |
|  | Three Months Ended September 30, 2020
|  | U.S. Operations |  | Latin America Operations |  | Corporate |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 151,618 |  |  | $ | 83,364 |  |  | $ | — |  |  | $ | 234,982 |
Pawn loan fees |  | 66,180 |  |  | 33,390 |  |  | — |  |  | 99,570 |
Wholesale scrap jewelry sales |  | 12,692 |  |  | 12,589 |  |  | — |  |  | 25,281 |
Consumer loan and credit services fees |  | 57 |  |  | — |  |  | — |  |  | 57 |
Total revenue |  | 230,547 |  |  | 129,343 |  |  | — |  |  | 359,890 |
Cost of revenue: |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 84,673 |  |  | 52,557 |  |  | — |  |  | 137,230 |
Cost of wholesale scrap jewelry sold |  | 10,316 |  |  | 9,502 |  |  | — |  |  | 19,818 |
Consumer loan and credit services loss provision |  | 104 |  |  | — |  |  | — |  |  | 104 |
Total cost of revenue |  | 95,093 |  |  | 62,059 |  |  | — |  |  | 157,152 |
Net revenue |  | 135,454 |  |  | 67,284 |  |  | — |  |  | 202,738 |
Expenses and other income: |  |  |  |  |  |  |  |
Store operating expenses |  | 92,678 |  |  | 39,383 |  |  | — |  |  | 132,061 |
Administrative expenses |  | — |  |  | — |  |  | 24,354 |  |  | 24,354 |
Depreciation and amortization |  | 5,390 |  |  | 3,903 |  |  | 1,133 |  |  | 10,426 |
Interest expense |  | — |  |  | — |  |  | 6,561 |  |  | 6,561 |
Interest income |  | — |  |  | — |  |  | (499) |  |  | (499) |
Merger and acquisition expenses |  | — |  |  | — |  |  | 7 |  |  | 7 |
Gain on foreign exchange |  | — |  |  | — |  |  | (432) |  |  | (432) |
Write-off of certain Cash America merger related lease intangibles |  | — |  |  | — |  |  | 837 |  |  | 837 |
Loss on extinguishment of debt |  | — |  |  | — |  |  | 11,737 |  |  | 11,737 |
Total expenses and other income |  | 98,068 |  |  | 43,286 |  |  | 43,698 |  |  | 185,052 |
Income (loss) before income taxes |  | $ | 37,386 |  |  | $ | 23,998 |  |  | $ | (43,698) |  |  | $ | 17,686 |
|  | Nine Months Ended September 30, 2021
|  | U.S. Operations |  | Latin America Operations |  | Corporate |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 530,468 |  |  | $ | 275,867 |  |  | $ | — |  |  | $ | 806,335 |
Pawn loan fees |  | 220,013 |  |  | 126,783 |  |  | — |  |  | 346,796 |
Wholesale scrap jewelry sales |  | 20,217 |  |  | 23,843 |  |  | — |  |  | 44,060 |
Total revenue |  | 770,698 |  |  | 426,493 |  |  | — |  |  | 1,197,191 |
Cost of revenue: |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 295,455 |  |  | 173,179 |  |  | — |  |  | 468,634 |
Cost of wholesale scrap jewelry sold |  | 16,678 |  |  | 20,979 |  |  | — |  |  | 37,657 |
Total cost of revenue |  | 312,133 |  |  | 194,158 |  |  | — |  |  | 506,291 |
Net revenue |  | 458,565 |  |  | 232,335 |  |  | — |  |  | 690,900 |
Expenses and other income: |  |  |  |  |  |  |  |
Store operating expenses |  | 282,068 |  |  | 133,003 |  |  | — |  |  | 415,071 |
Administrative expenses |  | — |  |  | — |  |  | 88,605 |  |  | 88,605 |
Depreciation and amortization |  | 16,391 |  |  | 13,388 |  |  | 2,952 |  |  | 32,731 |
Interest expense |  | — |  |  | — |  |  | 22,389 |  |  | 22,389 |
Interest income |  | — |  |  | — |  |  | (420) |  |  | (420) |
Merger and acquisition expenses |  | — |  |  | — |  |  | 1,264 |  |  | 1,264 |
Loss on foreign exchange |  | — |  |  | — |  |  | 248 |  |  | 248 |
Write-off of certain Cash America merger related lease intangibles |  | — |  |  | — |  |  | 1,640 |  |  | 1,640 |
Total expenses and other income |  | 298,459 |  |  | 146,391 |  |  | 116,678 |  |  | 561,528 |
Income (loss) before income taxes |  | $ | 160,106 |  |  | $ | 85,944 |  |  | $ | (116,678) |  |  | $ | 129,372 |
|  | Nine Months Ended September 30, 2020
|  | U.S. Operations |  | Latin America Operations |  | Corporate |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 556,528 |  |  | $ | 262,483 |  |  | $ | — |  |  | $ | 819,011 |
Pawn loan fees |  | 235,937 |  |  | 107,738 |  |  | — |  |  | 343,675 |
Wholesale scrap jewelry sales |  | 37,727 |  |  | 36,710 |  |  | — |  |  | 74,437 |
Consumer loan and credit services fees |  | 2,003 |  |  | — |  |  | — |  |  | 2,003 |
Total revenue |  | 832,195 |  |  | 406,931 |  |  | — |  |  | 1,239,126 |
Cost of revenue: |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 325,863 |  |  | 167,573 |  |  | — |  |  | 493,436 |
Cost of wholesale scrap jewelry sold |  | 32,754 |  |  | 28,268 |  |  | — |  |  | 61,022 |
Consumer loan and credit services loss provision |  | (480) |  |  | — |  |  | — |  |  | (480) |
Total cost of revenue |  | 358,137 |  |  | 195,841 |  |  | — |  |  | 553,978 |
Net revenue |  | 474,058 |  |  | 211,090 |  |  | — |  |  | 685,148 |
Expenses and other income: |  |  |  |  |  |  |  |
Store operating expenses |  | 303,686 |  |  | 122,926 |  |  | — |  |  | 426,612 |
Administrative expenses |  | — |  |  | — |  |  | 85,642 |  |  | 85,642 |
Depreciation and amortization |  | 16,352 |  |  | 11,568 |  |  | 3,504 |  |  | 31,424 |
Interest expense |  | — |  |  | — |  |  | 21,953 |  |  | 21,953 |
Interest income |  | — |  |  | — |  |  | (1,209) |  |  | (1,209) |
Merger and acquisition expenses |  | — |  |  | — |  |  | 209 |  |  | 209 |
Loss on foreign exchange |  | — |  |  | — |  |  | 1,639 |  |  | 1,639 |
Write-off of certain Cash America merger related lease intangibles |  | — |  |  | — |  |  | 4,649 |  |  | 4,649 |
Loss on extinguishment of debt |  | — |  |  | — |  |  | 11,737 |  |  | 11,737 |
Impairment of certain other assets |  | — |  |  | — |  |  | 1,900 |  |  | 1,900 |
Total expenses and other income |  | 320,038 |  |  | 134,494 |  |  | 130,024 |  |  | 584,556 |
Income (loss) before income taxes |  | $ | 154,020 |  |  | $ | 76,596 |  |  | $ | (130,024) |  |  | $ | 100,592 |

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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -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: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration