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v3.23.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2023
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 six month periods ended June 30, 2023 and 2022 as well as segment earning assets (in thousands):
|  | Three Months Ended June 30, 2023
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 196,043 |  |  | $ | 126,581 |  |  | $ | — |  |  | $ | (1,760) |  | (1) | $ | 320,864 |
Pawn loan fees |  | 98,973 |  |  | 55,205 |  |  | — |  |  | — |  |  | 154,178 |
Leased merchandise income |  | — |  |  | — |  |  | 189,805 |  |  | — |  |  | 189,805 |
Interest and fees on finance receivables |  | — |  |  | — |  |  | 58,192 |  |  | — |  |  | 58,192 |
Wholesale scrap jewelry sales |  | 17,652 |  |  | 9,931 |  |  | — |  |  | — |  |  | 27,583 |
Total revenue |  | 312,668 |  |  | 191,717 |  |  | 247,997 |  |  | (1,760) |  |  | 750,622 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 111,539 |  |  | 81,660 |  |  | — |  |  | (928) |  | (1) | 192,271 |
Depreciation of leased merchandise |  | — |  |  | — |  |  | 103,062 |  |  | (541) |  | (1) | 102,521 |
Provision for lease losses |  | — |  |  | — |  |  | 53,048 |  |  | (175) |  | (1) | 52,873 |
Provision for loan losses |  | — |  |  | — |  |  | 28,190 |  |  | — |  |  | 28,190 |
Cost of wholesale scrap jewelry sold |  | 14,225 |  |  | 7,655 |  |  | — |  |  | — |  |  | 21,880 |
Total cost of revenue |  | 125,764 |  |  | 89,315 |  |  | 184,300 |  |  | (1,644) |  |  | 397,735 |
Net revenue (loss) |  | 186,904 |  |  | 102,402 |  |  | 63,697 |  |  | (116) |  |  | 352,887 |
Expenses and other income: |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 108,159 |  |  | 59,507 |  |  | 37,115 |  |  | — |  |  | 204,781 |
Administrative expenses |  | — |  |  | — |  |  | — |  |  | 40,355 |  |  | 40,355 |
Depreciation and amortization |  | 6,330 |  |  | 5,203 |  |  | 751 |  |  | 14,766 |  |  | 27,050 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 21,071 |  |  | 21,071 |
Interest income |  | — |  |  | — |  |  | — |  |  | (408) |  |  | (408) |
Gain on foreign exchange |  | — |  |  | — |  |  | — |  |  | (817) |  |  | (817) |
Merger and acquisition expenses |  | — |  |  | — |  |  | — |  |  | 252 |  |  | 252 |
Other expenses (income), net |  | — |  |  | — |  |  | — |  |  | 79 |  |  | 79 |
Total expenses and other income |  | 114,489 |  |  | 64,710 |  |  | 37,866 |  |  | 75,298 |  |  | 292,363 |
Income (loss) before income taxes |  | $ | 72,415 |  |  | $ | 37,692 |  |  | $ | 25,831 |  |  | $ | (75,414) |  |  | $ | 60,524 |
(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.
|  | Six Months Ended June 30, 2023
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 406,724 |  |  | $ | 245,518 |  |  | $ | — |  |  | $ | (3,463) |  | (1) | $ | 648,779 |
Pawn loan fees |  | 201,657 |  |  | 104,081 |  |  | — |  |  | — |  |  | 305,738 |
Leased merchandise income |  | — |  |  | — |  |  | 373,243 |  |  | — |  |  | 373,243 |
Interest and fees on finance receivables |  | — |  |  | — |  |  | 112,834 |  |  | — |  |  | 112,834 |
Wholesale scrap jewelry sales |  | 43,968 |  |  | 28,799 |  |  | — |  |  | — |  |  | 72,767 |
Total revenue |  | 652,349 |  |  | 378,398 |  |  | 486,077 |  |  | (3,463) |  |  | 1,513,361 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 233,468 |  |  | 159,623 |  |  | — |  |  | (1,819) |  | (1) | 391,272 |
Depreciation of leased merchandise |  | — |  |  | — |  |  | 205,234 |  |  | (1,108) |  | (1) | 204,126 |
Provision for lease losses |  | — |  |  | — |  |  | 102,214 |  |  | (276) |  | (1) | 101,938 |
Provision for loan losses |  | — |  |  | — |  |  | 57,475 |  |  | — |  |  | 57,475 |
Cost of wholesale scrap jewelry sold |  | 35,307 |  |  | 22,300 |  |  | — |  |  | — |  |  | 57,607 |
Total cost of revenue |  | 268,775 |  |  | 181,923 |  |  | 364,923 |  |  | (3,203) |  |  | 812,418 |
Net revenue (loss) |  | 383,574 |  |  | 196,475 |  |  | 121,154 |  |  | (260) |  |  | 700,943 |
Expenses and other income: |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 217,940 |  |  | 115,263 |  |  | 70,639 |  |  | — |  |  | 403,842 |
Administrative expenses |  | — |  |  | — |  |  | — |  |  | 79,372 |  |  | 79,372 |
Depreciation and amortization |  | 12,200 |  |  | 10,648 |  |  | 1,487 |  |  | 29,826 |  |  | 54,161 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 41,968 |  |  | 41,968 |
Interest income |  | — |  |  | — |  |  | — |  |  | (925) |  |  | (925) |
Gain on foreign exchange |  | — |  |  | — |  |  | — |  |  | (1,619) |  |  | (1,619) |
Merger and acquisition expenses |  | — |  |  | — |  |  | — |  |  | 283 |  |  | 283 |
Other expenses (income), net |  | — |  |  | — |  |  | — |  |  | 124 |  |  | 124 |
Total expenses and other income |  | 230,140 |  |  | 125,911 |  |  | 72,126 |  |  | 149,029 |  |  | 577,206 |
Income (loss) before income taxes |  | $ | 153,434 |  |  | $ | 70,564 |  |  | $ | 49,028 |  |  | $ | (149,289) |  |  | $ | 123,737 |
|  | As of June 30, 2023
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Earning assets: |  |  |  |  |  |  |  |  |  |
Pawn loans |  | $ | 291,447 |  |  | $ | 134,718 |  |  | $ | — |  |  | $ | — |  |  | $ | 426,165 |
Finance receivables, net |  | — |  |  | — |  |  | 110,555 |  |  | — |  |  | 110,555 |
Inventories |  | 180,410 |  |  | 86,732 |  |  | — |  |  | — |  |  | 267,142 |
Leased merchandise, net |  | — |  |  | — |  |  | 144,501 |  |  | (1,356) |  | (1) | 143,145 |
(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.
|  | Three Months Ended June 30, 2022
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 195,369 |  |  | $ | 102,888 |  |  | $ | — |  |  | $ | — |  |  | $ | 298,257 |
Pawn loan fees |  | 87,743 |  |  | 46,324 |  |  | — |  |  | — |  |  | 134,067 |
Leased merchandise income |  | — |  |  | — |  |  | 147,700 |  |  | — |  |  | 147,700 |
Interest and fees on finance receivables |  | — |  |  | — |  |  | 43,744 |  |  | — |  |  | 43,744 |
Wholesale scrap jewelry sales |  | 15,673 |  |  | 8,175 |  |  | — |  |  | — |  |  | 23,848 |
Total revenue |  | 298,785 |  |  | 157,387 |  |  | 191,444 |  |  | — |  |  | 647,616 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 114,390 |  |  | 64,919 |  |  | — |  |  | — |  |  | 179,309 |
Depreciation of leased merchandise |  | — |  |  | — |  |  | 82,605 |  |  | — |  |  | 82,605 |
Provision for lease losses |  | — |  |  | — |  |  | 38,035 |  |  | — |  |  | 38,035 |
Provision for loan losses |  | — |  |  | — |  |  | 26,800 |  |  | — |  |  | 26,800 |
Cost of wholesale scrap jewelry sold |  | 13,282 |  |  | 6,613 |  |  | — |  |  | — |  |  | 19,895 |
Total cost of revenue |  | 127,672 |  |  | 71,532 |  |  | 147,440 |  |  | — |  |  | 346,644 |
Net revenue |  | 171,113 |  |  | 85,855 |  |  | 44,004 |  |  | — |  |  | 300,972 |
Expenses and other income: |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 101,242 |  |  | 48,053 |  |  | 31,260 |  |  | — |  |  | 180,555 |
Administrative expenses |  | — |  |  | — |  |  | — |  |  | 37,068 |  |  | 37,068 |
Depreciation and amortization |  | 5,868 |  |  | 4,553 |  |  | 699 |  |  | 14,862 |  |  | 25,982 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 16,246 |  |  | 16,246 |
Interest income |  | — |  |  | — |  |  | — |  |  | (222) |  |  | (222) |
Loss on foreign exchange |  | — |  |  | — |  |  | — |  |  | 27 |  |  | 27 |
Merger and acquisition expenses |  | — |  |  | — |  |  | — |  |  | 314 |  |  | 314 |
Gain on revaluation of contingent acquisition consideration |  | — |  |  | — |  |  | — |  |  | (65,559) |  |  | (65,559) |
Other expenses (income), net |  | — |  |  | — |  |  | — |  |  | (3,062) |  |  | (3,062) |
Total expenses and other income |  | 107,110 |  |  | 52,606 |  |  | 31,959 |  |  | (326) |  |  | 191,349 |
Income before income taxes |  | $ | 64,003 |  |  | $ | 33,249 |  |  | $ | 12,045 |  |  | $ | 326 |  |  | $ | 109,623 |
|  | Six Months Ended June 30, 2022
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 400,311 |  |  | $ | 200,765 |  |  | $ | — |  |  | $ | — |  |  | $ | 601,076 |
Pawn loan fees |  | 178,082 |  |  | 87,804 |  |  | — |  |  | — |  |  | 265,886 |
Leased merchandise income |  | — |  |  | — |  |  | 297,647 |  |  | — |  |  | 297,647 |
Interest and fees on finance receivables |  | — |  |  | — |  |  | 86,193 |  |  | — |  |  | 86,193 |
Wholesale scrap jewelry sales |  | 32,197 |  |  | 24,456 |  |  | — |  |  | — |  |  | 56,653 |
Total revenue |  | 610,590 |  |  | 313,025 |  |  | 383,840 |  |  | — |  |  | 1,307,455 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 234,108 |  |  | 127,415 |  |  | — |  |  | — |  |  | 361,523 |
Depreciation of leased merchandise |  | — |  |  | — |  |  | 176,311 |  |  | — |  |  | 176,311 |
Provision for lease losses |  | — |  |  | — |  |  | 77,855 |  |  | — |  |  | 77,855 |
Provision for loan losses |  | — |  |  | — |  |  | 51,497 |  |  | — |  |  | 51,497 |
Cost of wholesale scrap jewelry sold |  | 27,812 |  |  | 20,298 |  |  | — |  |  | — |  |  | 48,110 |
Total cost of revenue |  | 261,920 |  |  | 147,713 |  |  | 305,663 |  |  | — |  |  | 715,296 |
Net revenue |  | 348,670 |  |  | 165,312 |  |  | 78,177 |  |  | — |  |  | 592,159 |
Expenses and other income: |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 200,064 |  |  | 93,595 |  |  | 60,192 |  |  | — |  |  | 353,851 |
Administrative expenses |  | — |  |  | — |  |  | — |  |  | 73,931 |  |  | 73,931 |
Depreciation and amortization |  | 11,455 |  |  | 8,954 |  |  | 1,381 |  |  | 29,734 |  |  | 51,524 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 32,467 |  |  | 32,467 |
Interest income |  | — |  |  | — |  |  | — |  |  | (898) |  |  | (898) |
Gain on foreign exchange |  | — |  |  | — |  |  | — |  |  | (453) |  |  | (453) |
Merger and acquisition expenses |  | — |  |  | — |  |  | — |  |  | 979 |  |  | 979 |
Gain on revaluation of contingent acquisition consideration |  | — |  |  | — |  |  | — |  |  | (62,989) |  |  | (62,989) |
Other expenses (income), net |  | — |  |  | — |  |  | — |  |  | (2,885) |  |  | (2,885) |
Total expenses and other income |  | 211,519 |  |  | 102,549 |  |  | 61,573 |  |  | 69,886 |  |  | 445,527 |
Income (loss) before income taxes |  | $ | 137,151 |  |  | $ | 62,763 |  |  | $ | 16,604 |  |  | $ | (69,886) |  |  | $ | 146,632 |
|  | As of June 30, 2022
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  |  |  | Consolidated
Earning assets: |  |  |  |  |  |  |  |  |  |
Pawn loans |  | $ | 271,255 |  | $ | 114,453 |  | $ | — |  |  |  | $ | 385,708
Finance receivables, net |  | — |  | — |  | 125,619 |  |  |  | 125,619
Inventories |  | 185,921 |  | 74,607 |  | — |  |  |  | 260,528
Leased merchandise, net |  | — |  | — |  | 118,924 |  |  |  | 118,924

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- 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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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