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Acquisitions
 6 Months Ended
Jun. 30, 2024
Business Combination and Asset Acquisition [Abstract]  
Acquisitions Acquisitions
Consistent with the Company’s strategy to continue its expansion of pawn stores in strategic markets, during the six months ended June 30, 2024, the Company acquired 27 pawn stores in the U.S. in four separate transactions and acquired one pawn license that was used to open one new pawn store in the state of Nevada. The aggregate purchase price for these acquisitions totaled $99.2 million, net of cash acquired and subject to future post-closing adjustments. The aggregate purchase price was composed of $65.0 million in cash, $29.3 million in stock consideration and remaining short-term amounts payable to certain of the sellers of approximately $4.9 million. During the six months ended June 30, 2024, the Company also paid $0.7 million of purchase price amounts payable related to prior-year pawn acquisitions.

The purchase price of each of the 2024 acquisitions was allocated to assets acquired and liabilities assumed based upon the estimated fair values at the date of acquisition. The excess purchase price over the estimated fair value of the net assets acquired has been recorded as goodwill. The goodwill arising from these acquisitions consists largely of the synergies and economies of scale expected from combining the operations of the Company and the pawn stores acquired. These acquisitions were not material individually or in the aggregate to the Company’s consolidated financial statements.
The estimated fair value of the assets acquired and liabilities assumed are preliminary, as the Company is gathering information to finalize the valuation of these assets and liabilities. The preliminary allocation of the aggregate purchase prices for these individually immaterial acquisitions during the six months ended June 30, 2024 is as follows (in thousands):

Pawn loans$11,179 
Accounts receivable
796 
Inventories8,465 
Property and equipment551 
Goodwill (1)
79,596 
Intangible assets1,270 
Current liabilities(2,629)
Aggregate purchase price$99,228 

(1)Substantially all of the goodwill is expected to be deductible for U.S. income tax purposes.
The results of operations for the acquired stores have been consolidated since the respective acquisition dates. During 2024, revenue from the acquired stores was $8.2 million and the earnings from the combined acquisitions since the acquisition dates (including $1.5 million of transaction and integration costs, net of tax) was $1.2 million.