XML 50 R27.htm IDEA: XBRL DOCUMENT
v3.22.4

Acquisitions (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Business Combinations [Abstract] |
Schedule of Consideration Transferred | The following table summarizes the consideration transferred in connection with the AFF Acquisition, net of cash acquired (in thousands except share and per share amounts):
| AFF Acquisition
Shares of FirstCash Holdings, Inc. common stock issued | 8,046,252 |
Closing common stock price per share at December 16, 2021 | $ | 62.83 |
Stock consideration | $ | 505,546 |
Cash consideration paid to AFF shareholders at closing | 253,087 |
Cash consideration paid to extinguish AFF pre-existing debt | 257,278 |
Present value of deferred consideration payable to AFF shareholders on December 31, 2022 | 23,873 |
Estimated fair value of Contingent Consideration (see Note 6) | 127,420 |
Less cash acquired | (48,263) |
Aggregate purchase consideration | $ | 1,118,941 |
Schedule of Preliminary Allocations of Purchase Price | The preliminary allocation of the aggregate purchase price for these individually immaterial pawn store acquisitions during 2022 (the “2022 Pawn Acquisitions”) is as follows (in thousands):
| 2022 Pawn Acquisitions
Pawn loans | $ | 7,291 |
Accounts receivable, net | 426 |
Inventories | 11,523 |
Property and equipment | 300 |
Goodwill (1) | 55,455 |
Intangible assets | 310 |
Current liabilities | (2,329) |
Aggregate purchase price | $ | 72,976 |
(1)Substantially all of the goodwill is expected to be deductible for income tax purposes. The following table details the preliminary purchase price allocation as of December 31, 2021, the measurement period adjustments made during the twelve months ended December 31, 2022 and the final purchase price allocation as of December 31, 2022 (in thousands):
| December 31, |  | 2022 |  | December 31,
| 2021 |  | Adjustments |  | 2022
Accounts receivable | $ | 11,660 |  |  | $ | — |  |  | $ | 11,660 |
Finance receivables | 225,261 |  |  | — |  |  | 225,261 |
Leased merchandise | 139,649 |  |  | — |  |  | 139,649 |
Prepaid expenses and other current assets | 4,474 |  |  | (188) |  |  | 4,286 |
Property and equipment | 11,670 |  |  | (9) |  |  | 11,661 |
Operating lease right of use asset | 491 |  |  | — |  |  | 491 |
Goodwill | 503,106 |  |  | (16,901) |  |  | 486,205 |
Intangible assets | 305,100 |  |  | — |  |  | 305,100 |
Accounts payable and accrued liabilities | (28,357) |  |  | (1,116) |  |  | (29,473) |
Customer deposits and prepayments | (11,014) |  |  | — |  |  | (11,014) |
Lease liability, current | (10) |  |  | — |  |  | (10) |
Deferred tax liabilities (1) | (42,608) |  |  | 18,214 |  |  | (24,394) |
Lease liability, non-current | (481) |  |  | — |  |  | (481) |
Purchase price | $ | 1,118,941 |  |  | $ | — |  |  | $ | 1,118,941 |
(1)Measurement period adjustment is primarily a result of the seller finalizing the ending tax basis in the assets and liabilities acquired, which carried over to the Company.
Business Acquisition, Pro Forma Information | The following unaudited pro forma financial information reflects the consolidated results of operations of the Company as if the AFF Acquisition and the 2021 Pawn Acquisitions had occurred on January 1, 2020, after giving effect to certain adjustments (in thousands, except per share amounts):
| Year Ended |  | Year Ended
| December 31, 2021 |  | December 31, 2020
| As Reported |  | Pro Forma |  | As Reported |  | Pro Forma
Total revenue | $ | 1,698,965 |  |  | $ | 2,305,860 |  |  | $ | 1,631,284 |  |  | $ | 2,024,055 |
Net income | 124,909 |  |  | 156,257 |  |  | 106,579 |  |  | 60,059 |
Net income per share: |  |  |  |  |  |  |
Basic | $ | 3.05 |  |  | $ | 3.21 |  |  | $ | 2.57 |  |  | $ | 1.21 |
Diluted | 3.04 |  |  | 3.20 |  |  | 2.56 |  |  | 1.21 |

X
- Definition Schedule of Consideration Transferred + References No definition available. + Details
Name: | fcfs_ScheduleOfConsiderationTransferredTableTextBlock
Namespace Prefix: | fcfs_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration