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Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following tables present reportable segment information for the years ended December 31, 2022, 2021 and 2020 as well as separately identified segment assets (in thousands):

						Year Ended December 31, 2022
						U.S. Pawn						Latin America Pawn						Retail POS Payment Solutions						Corporate/ Eliminations						Consolidated
Revenue:
Retail merchandise sales						$	818,548					$	447,523					$	—					$	(4,935)		(1)			$	1,261,136
Pawn loan fees						373,416						187,974						—						—						561,390
Leased merchandise income						—						—						622,163						—						622,163
Interest and fees on finance receivables						—						—						181,280						—						181,280
Wholesale scrap jewelry sales						63,004						39,969						—						—						102,973
Total revenue						1,254,968						675,466						803,443						(4,935)						2,728,942
Cost of revenue:
Cost of retail merchandise sold						478,718						288,449						—						(2,614)			(1)			764,553
Depreciation of leased merchandise						—						—						354,104						(609)			(1)			353,495
Provision for lease losses						—						—						140,118						(616)			(1)			139,502
Provision for loan losses						—						—						118,502						—						118,502
Cost of wholesale scrap jewelry sold						54,893						33,411						—						—						88,304
Total cost of revenue						533,611						321,860						612,724						(3,839)						1,464,356
Net revenue (loss)						721,357						353,606						190,719						(1,096)			(1)			1,264,586
Expenses and other income:
Operating expenses						407,039						193,254						128,616						—						728,909
Administrative expenses						—						—						—						147,943						147,943
Depreciation and amortization						23,205						18,325						2,912						59,390						103,832
Interest expense						—						—						—						70,708						70,708
Interest income						—						—						—						(1,313)						(1,313)
Gain on foreign exchange						—						—						—						(585)						(585)
Merger and acquisition expenses						—						—						—						3,739						3,739
Gain on revaluation of contingent acquisition consideration						—						—						—						(109,549)						(109,549)
Other expenses (income), net						—						—						—						(2,731)						(2,731)
Total expenses and other income						430,244						211,579						131,528						167,602						940,953
Income (loss) before income taxes						$	291,113					$	142,027					$	59,191					$	(168,698)					$	323,633

						As of December 31, 2022
						U.S. Pawn						Latin America Pawn						Retail POS Payment Solutions						Corporate/ Eliminations						Consolidated
Pawn loans						$	282,089					$	108,528					$	—					$	—					$	390,617
Finance receivables, net						—						—						103,494						—						103,494
Inventories						202,594						85,745						—						—						288,339
Leased merchandise, net						—						—						154,398						(1,096)			(1)			153,302
Goodwill						916,048						179,128						486,205						—						1,581,381
Total assets						2,108,157						619,839						1,047,814						129,057						3,904,867

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution as a payment option in its U.S. pawn stores.

						Year Ended December 31, 2021
						U.S. Pawn						Latin America Pawn						Retail POS Payment Solutions						Corporate/ Eliminations						Consolidated
Revenue:
Retail merchandise sales						$	742,374					$	391,875					$	—					$	—					$	1,134,249
Pawn loan fees						305,350						170,432						—						—						475,782
Leased merchandise income						—						—						22,720						—						22,720
Interest and fees on finance receivables						—						—						9,024						—						9,024
Wholesale scrap jewelry sales						27,163						30,027						—						—						57,190
Total revenue						1,074,887						592,334						31,744						—						1,698,965
Cost of revenue:
Cost of retail merchandise sold						416,039						247,425						—						—						663,464
Depreciation of leased merchandise						—						—						12,826						—						12,826
Provision for lease losses						—						—						5,442						—						5,442
Provision for loan losses						—						—						48,952						—						48,952
Cost of wholesale scrap jewelry sold						22,886						26,243						—						—						49,129
Total cost of revenue						438,925						273,668						67,220						—						779,813
Net revenue (loss)						635,962						318,666						(35,476)						—						919,152
Expenses and other income:
Operating expenses						380,895						179,020						4,917						—						564,832
Administrative expenses						—						—						—						111,259						111,259
Depreciation and amortization						22,234						17,834						122						5,716						45,906
Interest expense						—						—						—						32,386						32,386
Interest income						—						—						—						(696)						(696)
Loss on foreign exchange						—						—						—						436						436
Merger and acquisition expenses						—						—						—						15,449						15,449
Gain on revaluation of contingent acquisition consideration						—						—						—						(17,871)						(17,871)
Other expenses (income), net						—						—						—						949						949
Total expenses and other income						403,129						196,854						5,039						147,628						752,650
Income (loss) before income taxes						$	232,833					$	121,812					$	(40,515)					$	(147,628)					$	166,502

						As of December 31, 2021
						U.S. Pawn						Latin America Pawn						Retail POS Payment Solutions						Corporate/ Eliminations						Consolidated
Pawn loans						$	256,311					$	91,662					$	—					$	—					$	347,973
Finance receivables, net						—						—						181,021						—						181,021
Inventories						197,486						65,825						—						—						263,311
Leased merchandise, net						—						—						143,944						—						143,944
Goodwill						861,793						171,279						503,106						—						1,536,178
Total assets						1,944,487						562,661						1,178,729						150,575						3,836,452

						Year Ended December 31, 2020
						U.S. Pawn						Latin America Pawn												Corporate/ Eliminations						Consolidated
Revenue:
Retail merchandise sales						$	720,281					$	355,237											$	—					$	1,075,518
Pawn loan fees						310,437						147,080												—						457,517
Interest and fees on finance receivables (1)						2,016						—												—						2,016
Wholesale scrap jewelry sales						45,405						50,828												—						96,233
Total revenue						1,078,139						553,145												—						1,631,284
Cost of revenue:
Cost of retail merchandise sold						415,938						225,149												—						641,087
Provision for loan losses (1)						(488)						—												—						(488)
Cost of wholesale scrap jewelry sold						39,584						39,962												—						79,546
Total cost of revenue						455,034						265,111												—						720,145
Net revenue						623,105						288,034												—						911,139
Expenses and other income:
Operating expenses						396,627						165,531												—						562,158
Administrative expenses						—						—												110,931						110,931
Depreciation and amortization						21,743						15,816												4,546						42,105
Interest expense						—						—												29,344						29,344
Interest income						—						—												(1,540)						(1,540)
Loss on foreign exchange						—						—												884						884
Merger and acquisition expenses						—						—												1,316						1,316
Other expenses (income), net						—						—												10,505						10,505
Loss on extinguishment of debt						—						—												11,737						11,737
Total expenses and other income						418,370						181,347												167,723						767,440
Income (loss) before income taxes						$	204,735					$	106,687											$	(167,723)					$	143,699

    

						As of December 31, 2020
						U.S. Pawn						Latin America Pawn												Corporate/ Eliminations						Consolidated
Pawn loans						$	220,391					$	87,840											$	—					$	308,231
Inventories						136,109						54,243												—						190,352
Goodwill						802,148						175,233												—						977,381
Total assets						1,718,975						540,473												112,749						2,372,197

(1)Effective June 30, 2020, the Company’s U.S. pawn segment ceased offering an unsecured consumer loan product in the U.S.

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, net) by geographic area (in thousands):

						Year Ended December 31,
						2022						2021						2020
Revenue:
U.S.						$	2,053,476					$	1,106,631					$	1,078,139
Mexico						639,199						562,493						530,462
Other Latin America						36,267						29,841						22,683
						$	2,728,942					$	1,698,965					$	1,631,284
Long-lived assets:
U.S.						$	449,201					$	373,218					$	286,079
Mexico						88,233						84,648						82,438
Other Latin America						10,662						13,191						14,968
						$	548,096					$	471,057					$	383,485

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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

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