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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Components of the provision for income taxes and the income to which it relates for the years ended December 31, 2023, 2022 and 2021 consist of the following (in thousands):

			Year Ended December 31,
			2023						2022						2021
Income before income taxes (1):
Domestic			$	217,502					$	253,560					$	110,535
Foreign			75,347						70,073						55,967
Income before income taxes			$	292,849					$	323,633					$	166,502
Current income taxes:
U.S. Federal			$	53,217					$	23,034					$	14,031
Foreign			18,683						15,444						15,242
U.S. state and local			15,124						3,421						2,045
Current provision for income taxes			87,024						41,899						31,318
Deferred provision (benefit) for income taxes:
U.S. Federal			(6,253)						26,732						11,008
Foreign			1,475						(458)						(1,542)
U.S. state and local			(8,698)						1,965						809
Total deferred provision for income taxes			(13,476)						28,239						10,275
Provision for income taxes			$	73,548					$	70,138					$	41,593

(1)Includes the allocation of certain administrative expenses and intercompany payments, such as royalties and interest, between domestic and foreign subsidiaries.

Schedule of Deferred Tax Assets and Liabilities

The principal deferred tax assets and liabilities consist of the following (in thousands):

			As of December 31,
			2023						2022
Deferred tax assets:
Property and equipment in foreign jurisdictions			$	18,761					$	14,585
Finance receivables			21,745						19,125
Accrued fees on forfeited pawn loans			8,866						8,168
Deferred cost of goods sold deduction			4,454						2,800
Accrued compensation, payroll taxes and employee benefits			4,509						3,699
U.S. state and certain foreign net operating losses			6,456						6,504
Other			5,100						5,167
Total deferred tax assets			69,891						60,048
Deferred tax liabilities:
Intangible assets			158,888						150,397
Leased merchandise and property and equipment in domestic jurisdictions			27,593						40,950
Net operating lease asset			2,702						2,646
Other			4,511						3,929
Total deferred tax liabilities			193,694						197,922
Net deferred tax liabilities before valuation allowance			(123,803)						(137,874)
Valuation allowance			(6,456)						(6,504)
Net deferred tax liabilities			$	(130,259)					$	(144,378)
Reported as:
Deferred tax assets			$	6,514					$	7,381
Deferred tax liabilities			(136,773)						(151,759)
Net deferred tax liabilities			$	(130,259)					$	(144,378)

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of income taxes calculated at the U.S. federal statutory rate to the provision for income taxes (dollars in thousands):

			Year Ended December 31,
			2023						2022						2021
U.S. federal statutory rate			21		%				21		%				21		%
Tax at the U.S. federal statutory rate			$	61,498					$	67,963					$	35,149
U.S. state income tax, net of federal tax benefit of $1,349, $1,131 and $599, respectively			5,076						4,255						2,255
Benefit from gain on revaluation of contingent acquisition consideration			—						(4,580)						—
Net incremental income tax expense from foreign earnings (1)			4,373						272						2,007
Non-deductible compensation expense			4,358						3,297						1,943
Other taxes and adjustments, net			(1,757)						(1,069)						239
Provision for income taxes			$	73,548					$	70,138					$	41,593
Effective tax rate			25.1		%				21.7		%				25.0		%

(1)Includes a $5.7 million, $8.0 million and $6.3 million foreign permanent tax benefit related to an inflation index adjustment allowed under Mexico tax law for the years ended December 31, 2023, 2022 and 2021, respectively.

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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