XML 29 R17.htm IDEA: XBRL DOCUMENT
v3.24.3

Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company organizes its operations into three reportable segments as follows: •U.S. pawn •Latin America pawn •Retail POS payment solutions (AFF) Corporate expenses and income, which include administrative expenses, corporate depreciation and amortization, interest expense, interest income, loss (gain) on foreign exchange, merger and acquisition expenses, and other expenses (income), net, are presented on a consolidated basis and are not allocated between the U.S. pawn segment, Latin America pawn segment or retail POS payment solutions segment. Intersegment transactions relate to the Company offering AFF’s LTO payment solution in its U.S. pawn stores and are eliminated to arrive at consolidated totals. The following tables present reportable segment information for the three and nine month periods ended September 30, 2024 and 2023 as well as segment earning assets (in thousands):
|  | Three Months Ended September 30, 2024
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 235,037 |  |  | $ | 129,081 |  |  | $ | — |  |  | $ | (977) |  | (1) | $ | 363,141 |
Pawn loan fees |  | 128,393 |  |  | 58,168 |  |  | — |  |  | — |  |  | 186,561 |
Leased merchandise income |  | — |  |  | — |  |  | 188,560 |  |  | — |  |  | 188,560 |
Interest and fees on finance receivables |  | — |  |  | — |  |  | 61,198 |  |  | — |  |  | 61,198 |
Wholesale scrap jewelry sales |  | 26,685 |  |  | 11,176 |  |  | — |  |  | — |  |  | 37,861 |
Total revenue |  | 390,115 |  |  | 198,425 |  |  | 249,758 |  |  | (977) |  |  | 837,321 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 134,966 |  |  | 83,729 |  |  | — |  |  | (517) |  | (1) | 218,178 |
Depreciation of leased merchandise |  | — |  |  | — |  |  | 105,308 |  |  | (380) |  | (1) | 104,928 |
Provision for lease losses |  | — |  |  | — |  |  | 39,268 |  |  | (97) |  | (1) | 39,171 |
Provision for loan losses |  | — |  |  | — |  |  | 40,557 |  |  | — |  |  | 40,557 |
Cost of wholesale scrap jewelry sold |  | 21,393 |  |  | 8,487 |  |  | — |  |  | — |  |  | 29,880 |
Total cost of revenue |  | 156,359 |  |  | 92,216 |  |  | 185,133 |  |  | (994) |  |  | 432,714 |
Net revenue |  | 233,756 |  |  | 106,209 |  |  | 64,625 |  |  | 17 |  |  | 404,607 |
Expenses and other income: |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 128,104 |  |  | 63,062 |  |  | 33,760 |  |  | — |  |  | 224,926 |
Administrative expenses |  | — |  |  | — |  |  | — |  |  | 40,930 |  |  | 40,930 |
Depreciation and amortization |  | 7,365 |  |  | 4,676 |  |  | 679 |  |  | 13,213 |  |  | 25,933 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 27,424 |  |  | 27,424 |
Interest income |  | — |  |  | — |  |  | — |  |  | (403) |  |  | (403) |
Loss on foreign exchange |  | — |  |  | — |  |  | — |  |  | 882 |  |  | 882 |
Merger and acquisition expenses |  | — |  |  | — |  |  | — |  |  | 225 |  |  | 225 |
Other expenses (income), net |  | — |  |  | — |  |  | — |  |  | (490) |  |  | (490) |
Total expenses and other income |  | 135,469 |  |  | 67,738 |  |  | 34,439 |  |  | 81,781 |  |  | 319,427 |
Income (loss) before income taxes |  | $ | 98,287 |  |  | $ | 38,471 |  |  | $ | 30,186 |  |  | $ | (81,764) |  |  | $ | 85,180 |
(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.
|  | Nine Months Ended September 30, 2024
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 702,120 |  |  | $ | 394,375 |  |  | $ | — |  |  | $ | (3,070) |  | (1) | $ | 1,093,425 |
Pawn loan fees |  | 371,699 |  |  | 175,443 |  |  | — |  |  | — |  |  | 547,142 |
Leased merchandise income |  | — |  |  | — |  |  | 588,801 |  |  | — |  |  | 588,801 |
Interest and fees on finance receivables |  | — |  |  | — |  |  | 175,384 |  |  | — |  |  | 175,384 |
Wholesale scrap jewelry sales |  | 70,722 |  |  | 29,229 |  |  | — |  |  | — |  |  | 99,951 |
Total revenue |  | 1,144,541 |  |  | 599,047 |  |  | 764,185 |  |  | (3,070) |  |  | 2,504,703 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 407,329 |  |  | 254,188 |  |  | — |  |  | (1,663) |  | (1) | 659,854 |
Depreciation of leased merchandise |  | — |  |  | — |  |  | 336,649 |  |  | (1,280) |  | (1) | 335,369 |
Provision for lease losses |  | — |  |  | — |  |  | 130,272 |  |  | (438) |  | (1) | 129,834 |
Provision for loan losses |  | — |  |  | — |  |  | 102,091 |  |  | — |  |  | 102,091 |
Cost of wholesale scrap jewelry sold |  | 57,928 |  |  | 23,783 |  |  | — |  |  | — |  |  | 81,711 |
Total cost of revenue |  | 465,257 |  |  | 277,971 |  |  | 569,012 |  |  | (3,381) |  |  | 1,308,859 |
Net revenue |  | 679,284 |  |  | 321,076 |  |  | 195,173 |  |  | 311 |  |  | 1,195,844 |
Expenses and other income: |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 372,191 |  |  | 198,389 |  |  | 103,851 |  |  | — |  |  | 674,431 |
Administrative expenses |  | — |  |  | — |  |  | — |  |  | 129,563 |  |  | 129,563 |
Depreciation and amortization |  | 21,609 |  |  | 15,199 |  |  | 2,078 |  |  | 39,621 |  |  | 78,507 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 78,029 |  |  | 78,029 |
Interest income |  | — |  |  | — |  |  | — |  |  | (1,407) |  |  | (1,407) |
Loss on foreign exchange |  | — |  |  | — |  |  | — |  |  | 2,133 |  |  | 2,133 |
Merger and acquisition expenses |  | — |  |  | — |  |  | — |  |  | 2,186 |  |  | 2,186 |
Other expenses (income), net |  | — |  |  | — |  |  | — |  |  | (841) |  |  | (841) |
Total expenses and other income |  | 393,800 |  |  | 213,588 |  |  | 105,929 |  |  | 249,284 |  |  | 962,601 |
Income (loss) before income taxes |  | $ | 285,484 |  |  | $ | 107,488 |  |  | $ | 89,244 |  |  | $ | (248,973) |  |  | $ | 233,243 |
(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.
|  | As of September 30, 2024
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Earning assets: |  |  |  |  |  |  |  |  |  |
Pawn loans |  | $ | 380,962 |  |  | $ | 136,915 |  |  | $ | — |  |  | $ | — |  |  | $ | 517,877 |
Finance receivables, net |  | — |  |  | — |  |  | 123,751 |  |  | — |  |  | 123,751 |
Inventories |  | 238,668 |  |  | 95,726 |  |  | — |  |  | — |  |  | 334,394 |
Leased merchandise, net |  | — |  |  | — |  |  | 137,973 |  |  | (204) |  | (1) | 137,769 |
(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.
|  | Three Months Ended September 30, 2023
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 203,769 |  |  | $ | 132,784 |  |  | $ | — |  |  | $ | (1,472) |  | (1) | $ | 335,081 |
Pawn loan fees |  | 114,022 |  |  | 60,538 |  |  | — |  |  | — |  |  | 174,560 |
Leased merchandise income |  | — |  |  | — |  |  | 189,382 |  |  | — |  |  | 189,382 |
Interest and fees on finance receivables |  | — |  |  | — |  |  | 61,413 |  |  | — |  |  | 61,413 |
Wholesale scrap jewelry sales |  | 17,140 |  |  | 8,725 |  |  | — |  |  | — |  |  | 25,865 |
Total revenue |  | 334,931 |  |  | 202,047 |  |  | 250,795 |  |  | (1,472) |  |  | 786,301 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 115,670 |  |  | 84,816 |  |  | — |  |  | (767) |  | (1) | 199,719 |
Depreciation of leased merchandise |  | — |  |  | — |  |  | 104,198 |  |  | (500) |  | (1) | 103,698 |
Provision for lease losses |  | — |  |  | — |  |  | 39,640 |  |  | 96 |  | (1) | 39,736 |
Provision for loan losses |  | — |  |  | — |  |  | 33,096 |  |  | — |  |  | 33,096 |
Cost of wholesale scrap jewelry sold |  | 14,297 |  |  | 7,108 |  |  | — |  |  | — |  |  | 21,405 |
Total cost of revenue |  | 129,967 |  |  | 91,924 |  |  | 176,934 |  |  | (1,171) |  |  | 397,654 |
Net revenue (loss) |  | 204,964 |  |  | 110,123 |  |  | 73,861 |  |  | (301) |  |  | 388,647 |
Expenses and other income: |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 113,976 |  |  | 63,907 |  |  | 33,641 |  |  | — |  |  | 211,524 |
Administrative expenses |  | — |  |  | — |  |  | — |  |  | 45,056 |  |  | 45,056 |
Depreciation and amortization |  | 6,586 |  |  | 5,236 |  |  | 771 |  |  | 14,772 |  |  | 27,365 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 24,689 |  |  | 24,689 |
Interest income |  | — |  |  | — |  |  | — |  |  | (328) |  |  | (328) |
Gain on foreign exchange |  | — |  |  | — |  |  | — |  |  | (286) |  |  | (286) |
Merger and acquisition expenses |  | — |  |  | — |  |  | — |  |  | 3,387 |  |  | 3,387 |
Other expenses (income), net |  | — |  |  | — |  |  | — |  |  | (384) |  |  | (384) |
Total expenses and other income |  | 120,562 |  |  | 69,143 |  |  | 34,412 |  |  | 86,906 |  |  | 311,023 |
Income (loss) before income taxes |  | $ | 84,402 |  |  | $ | 40,980 |  |  | $ | 39,449 |  |  | $ | (87,207) |  |  | $ | 77,624 |
(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.
|  | Nine Months Ended September 30, 2023
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |
Retail merchandise sales |  | $ | 610,493 |  |  | $ | 378,302 |  |  | $ | — |  |  | $ | (4,935) |  | (1) | $ | 983,860 |
Pawn loan fees |  | 315,679 |  |  | 164,619 |  |  | — |  |  | — |  |  | 480,298 |
Leased merchandise income |  | — |  |  | — |  |  | 562,625 |  |  | — |  |  | 562,625 |
Interest and fees on finance receivables |  | — |  |  | — |  |  | 174,247 |  |  | — |  |  | 174,247 |
Wholesale scrap jewelry sales |  | 61,108 |  |  | 37,524 |  |  | — |  |  | — |  |  | 98,632 |
Total revenue |  | 987,280 |  |  | 580,445 |  |  | 736,872 |  |  | (4,935) |  |  | 2,299,662 |
Cost of revenue: |  |  |  |  |  |  |  |  |  |
Cost of retail merchandise sold |  | 349,138 |  |  | 244,439 |  |  | — |  |  | (2,586) |  | (1) | 590,991 |
Depreciation of leased merchandise |  | — |  |  | — |  |  | 309,432 |  |  | (1,608) |  | (1) | 307,824 |
Provision for lease losses |  | — |  |  | — |  |  | 141,854 |  |  | (180) |  | (1) | 141,674 |
Provision for loan losses |  | — |  |  | — |  |  | 90,571 |  |  | — |  |  | 90,571 |
Cost of wholesale scrap jewelry sold |  | 49,604 |  |  | 29,408 |  |  | — |  |  | — |  |  | 79,012 |
Total cost of revenue |  | 398,742 |  |  | 273,847 |  |  | 541,857 |  |  | (4,374) |  |  | 1,210,072 |
Net revenue (loss) |  | 588,538 |  |  | 306,598 |  |  | 195,015 |  |  | (561) |  |  | 1,089,590 |
Expenses and other income: |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 331,916 |  |  | 179,170 |  |  | 104,280 |  |  | — |  |  | 615,366 |
Administrative expenses |  | — |  |  | — |  |  | — |  |  | 124,428 |  |  | 124,428 |
Depreciation and amortization |  | 18,786 |  |  | 15,884 |  |  | 2,258 |  |  | 44,598 |  |  | 81,526 |
Interest expense |  | — |  |  | — |  |  | — |  |  | 66,657 |  |  | 66,657 |
Interest income |  | — |  |  | — |  |  | — |  |  | (1,253) |  |  | (1,253) |
Gain on foreign exchange |  | — |  |  | — |  |  | — |  |  | (1,905) |  |  | (1,905) |
Merger and acquisition expenses |  | — |  |  | — |  |  | — |  |  | 3,670 |  |  | 3,670 |
Other expenses (income), net |  | — |  |  | — |  |  | — |  |  | (260) |  |  | (260) |
Total expenses and other income |  | 350,702 |  |  | 195,054 |  |  | 106,538 |  |  | 235,935 |  |  | 888,229 |
Income (loss) before income taxes |  | $ | 237,836 |  |  | $ | 111,544 |  |  | $ | 88,477 |  |  | $ | (236,496) |  |  | $ | 201,361 |
(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.
|  | As of September 30, 2023
|  | U.S. Pawn |  | Latin America Pawn |  | Retail POS Payment Solutions |  | Corporate/ Eliminations |  | Consolidated
Earning assets: |  |  |  |  |  |  |  |  |  |
Pawn loans |  | $ | 341,123 |  | $ | 142,662 |  | $ | — |  | $ | — |  | $ | 483,785
Finance receivables, net |  | — |  | — |  | 113,307 |  | — |  | 113,307
Inventories |  | 217,406 |  | 96,976 |  | — |  | — |  | 314,382
Leased merchandise, net |  | — |  | — |  | 144,826 |  | (1,657) | (1) | 143,169
(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration