XML 19 R7.htm IDEA: XBRL DOCUMENT v3.24.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flow from operating activities:    
Net income $ 110,441 $ 92,568
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation of leased merchandise 230,441 204,126
Provision for lease losses 90,663 101,938
Provision for loan losses 61,534 57,475
Share-based compensation expense 8,203 6,750
Depreciation and amortization expense 52,574 54,161
Amortization of debt issuance costs 1,763 1,375
Net amortization of premiums, discounts and unearned origination fees on finance receivables (15,471) (7,411)
Impairments and dispositions of certain other assets 1,461 124
Deferred income taxes, net (6,668) (10,571)
Changes in operating assets and liabilities, net of business combinations:    
Accounts receivable, net (965) (3,551)
Inventories purchased directly from customers, wholesalers or manufacturers (777) 11,476
Leased merchandise, net (292,848) (295,907)
Prepaid expenses and other assets (1,654) (4,696)
Accounts payable, accrued liabilities and other liabilities (16,185) (2,936)
Income taxes 6,207 748
Net cash flow provided by operating activities 228,719 205,669
Cash flow from investing activities:    
Pawn loans, net [1] (20,887) 188
Finance receivables, net (37,563) (57,125)
Purchases of furniture, fixtures, equipment and improvements (42,664) (28,348)
Purchases of store real property (21,100) (34,542)
Acquisitions of pawn stores, net of cash acquired (65,650) (5,472)
Net cash flow used in investing activities (187,864) (125,299)
Cash flow from financing activities:    
Borrowings from unsecured credit facilities 300,000 180,000
Repayments of unsecured credit facilities (718,000) (143,000)
Issuance of senior unsecured notes 500,000 0
Debt issuance costs paid (9,094) 0
Purchases of treasury stock (85,000) (101,843)
Payment of withholding taxes on net share settlements of restricted stock unit awards (7,007) (2,463)
Dividends paid (31,749) (30,592)
Net cash flow used in financing activities (50,850) (97,898)
Effect of exchange rates on cash (3,330) 4,796
Change in cash and cash equivalents (13,325) (12,732)
Cash and cash equivalents at beginning of the period 127,018 117,330
Cash and cash equivalents at end of the period $ 113,693 $ 104,598
[1] Includes the funding of new pawn loans net of cash repayments and recovery of principal through the sale of inventories acquired from forfeiture of pawn collateral.