XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Segment Reporting [Abstract] |
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The following tables present reportable segment information for the three and nine month periods ended September 30, 2022 and 2021 as well as segment earning assets (in thousands):
|  | Three Months Ended September 30, 2022
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 195,854 |  |  | $ | 107,591 |  |  | $ | — |  |  | $ | (2,546) |  | (1) | $ | 300,899 |
Pawn loan fees |  | 96,222 |  |  | 49,505 |  |  | — |  |  | — |  |  | 145,727 |
Leased merchandise income |  | — |  |  | — |  |  | 158,089 |  |  | — |  |  | 158,089 |
Interest and fees on finance receivables |  | — |  |  | — |  |  | 48,846 |  |  | — |  |  | 48,846 |
Wholesale scrap jewelry sales |  | 12,956 |  |  | 5,626 |  |  | — |  |  | — |  |  | 18,582 |
Total revenue |  | 305,032 |  |  | 162,722 |  |  | 206,935 |  |  | (2,546) |  |  | 672,143 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 114,899 |  |  | 68,642 |  |  | — |  |  | (1,342) |  | (1) | 182,199 |
Depreciation of leased merchandise |  | — |  |  | — |  |  | 86,703 |  |  | (184) |  | (1) | 86,519 |
Provision for lease losses |  | — |  |  | — |  |  | 32,350 |  |  | (434) |  | (1) | 31,916 |
Provision for loan losses |  | — |  |  | — |  |  | 31,956 |  |  | — |  |  | 31,956 |
Cost of wholesale scrap jewelry sold |  | 11,338 |  |  | 4,923 |  |  | — |  |  | — |  |  | 16,261 |
Total cost of revenue |  | 126,237 |  |  | 73,565 |  |  | 151,009 |  |  | (1,960) |  |  | 348,851 |
Net revenue |  | 178,795 |  |  | 89,157 |  |  | 55,926 |  |  | (586) |  | (1) | 323,292 |
Expenses and other income: |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 102,508 |  |  | 47,979 |  |  | 35,060 |  |  | — |  |  | 185,547 |
Administrative expenses |  | — |  |  | — |  |  | — |  |  | 36,951 |  |  | 36,951 |
Depreciation and amortization |  | 5,806 |  |  | 4,566 |  |  | 775 |  |  | 14,824 |  |  | 25,971 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 18,282 |  |  | 18,282 |
Interest income |  | — |  |  | — |  |  | — |  |  | (206) |  |  | (206) |
Loss on foreign exchange |  | — |  |  | — |  |  | — |  |  | 255 |  |  | 255 |
Merger and acquisition expenses |  | — |  |  | — |  |  | — |  |  | 733 |  |  | 733 |
Gain on revaluation of contingent acquisition consideration |  | — |  |  | — |  |  | — |  |  | (19,800) |  |  | (19,800) |
Other expenses (income), net |  | — |  |  | — |  |  | — |  |  | 164 |  |  | 164 |
Total expenses and other income |  | 108,314 |  |  | 52,545 |  |  | 35,835 |  |  | 51,203 |  |  | 247,897 |
Income (loss) before income taxes |  | $ | 70,481 |  |  | $ | 36,612 |  |  | $ | 20,091 |  |  | $ | (51,789) |  |  | $ | 75,395 |
(1)Represents the elimination of intersegment transactions related to U.S. pawn stores offering AFF’s LTO payment solution as a payment option in its stores.
|  | Nine Months Ended September 30, 2022
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 596,165 |  |  | $ | 308,356 |  |  | $ | — |  |  | $ | (2,546) |  | (1) | $ | 901,975 |
Pawn loan fees |  | 274,304 |  |  | 137,309 |  |  | — |  |  | — |  |  | 411,613 |
Leased merchandise income |  | — |  |  | — |  |  | 455,736 |  |  | — |  |  | 455,736 |
Interest and fees on finance receivables |  | — |  |  | — |  |  | 135,039 |  |  | — |  |  | 135,039 |
Wholesale scrap jewelry sales |  | 45,153 |  |  | 30,082 |  |  | — |  |  | — |  |  | 75,235 |
Total revenue |  | 915,622 |  |  | 475,747 |  |  | 590,775 |  |  | (2,546) |  |  | 1,979,598 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 349,007 |  |  | 196,057 |  |  | — |  |  | (1,342) |  | (1) | 543,722 |
Depreciation of leased merchandise |  | — |  |  | — |  |  | 263,014 |  |  | (184) |  | (1) | 262,830 |
Provision for lease losses |  | — |  |  | — |  |  | 110,205 |  |  | (434) |  | (1) | 109,771 |
Provision for loan losses |  | — |  |  | — |  |  | 83,453 |  |  | — |  |  | 83,453 |
Cost of wholesale scrap jewelry sold |  | 39,150 |  |  | 25,221 |  |  | — |  |  | — |  |  | 64,371 |
Total cost of revenue |  | 388,157 |  |  | 221,278 |  |  | 456,672 |  |  | (1,960) |  |  | 1,064,147 |
Net revenue |  | 527,465 |  |  | 254,469 |  |  | 134,103 |  |  | (586) |  | (1) | 915,451 |
Expenses and other income: |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 302,572 |  |  | 141,574 |  |  | 95,252 |  |  | — |  |  | 539,398 |
Administrative expenses |  | — |  |  | — |  |  | — |  |  | 110,882 |  |  | 110,882 |
Depreciation and amortization |  | 17,261 |  |  | 13,520 |  |  | 2,156 |  |  | 44,558 |  |  | 77,495 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 50,749 |  |  | 50,749 |
Interest income |  | — |  |  | — |  |  | — |  |  | (1,104) |  |  | (1,104) |
Gain on foreign exchange |  | — |  |  | — |  |  | — |  |  | (198) |  |  | (198) |
Merger and acquisition expenses |  | — |  |  | — |  |  | — |  |  | 1,712 |  |  | 1,712 |
Gain on revaluation of contingent acquisition consideration |  | — |  |  | — |  |  | — |  |  | (82,789) |  |  | (82,789) |
Other expenses (income), net |  | — |  |  | — |  |  | — |  |  | (2,721) |  |  | (2,721) |
Total expenses and other income |  | 319,833 |  |  | 155,094 |  |  | 97,408 |  |  | 121,089 |  |  | 693,424 |
Income (loss) before income taxes |  | $ | 207,632 |  |  | $ | 99,375 |  |  | $ | 36,695 |  |  | $ | (121,675) |  |  | $ | 222,027 |
|  | As of September 30, 2022
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Earning assets: |  |  |  |  |  |  |  |  |  |
Pawn loans |  | $ | 279,645 |  |  | $ | 124,582 |  |  | $ | — |  |  | $ | — |  |  | $ | 404,227 |
Finance receivables, net |  | — |  |  | — |  |  | 111,945 |  |  | — |  |  | 111,945 |
Inventories |  | 204,359 |  |  | 91,069 |  |  | — |  |  | — |  |  | 295,428 |
Leased merchandise, net |  | — |  |  | — |  |  | 132,683 |  |  | (586) |  | (1) | 132,097 |
(1)Represents the elimination of intersegment transactions related to U.S. pawn stores offering AFF’s LTO payment solution as a payment option in its stores.
|  | Three Months Ended September 30, 2021
|  | U.S. Pawn |  | Latin America Pawn |  |  |  | Corporate/ Eliminations |  | 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: |  |  |  |  |  |  |  |  |  |
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) |
Loss on foreign exchange |  | — |  |  | — |  |  |  |  | 558 |  |  | 558 |
Merger and acquisition expenses |  | — |  |  | — |  |  |  |  | 12 |  |  | 12 |
Other expenses (income), net |  | — |  |  | — |  |  |  |  | 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 |
|  | Nine Months Ended September 30, 2021
|  | U.S. Pawn |  | Latin America Pawn |  |  |  | Corporate/ Eliminations |  | 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: |  |  |  |  |  |  |  |  |  |
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) |
Loss on foreign exchange |  | — |  |  | — |  |  |  |  | 248 |  |  | 248 |
Merger and acquisition expenses |  | — |  |  | — |  |  |  |  | 1,264 |  |  | 1,264 |
Other expenses (income), net |  | — |  |  | — |  |  |  |  | 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 |
|  | As of September 30, 2021
|  | U.S. Pawn |  | Latin America Pawn |  |  |  |  |  | Consolidated
Earning assets: |  |  |  |  |  |  |  |  |  |
Pawn loans |  | $ | 242,825 |  | $ | 106,168 |  |  |  |  |  | $ | 348,993
Inventories |  | 175,047 |  | 79,213 |  |  |  |  |  | 254,260

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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