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 fees128,393 58,168 — — 186,561 
Leased merchandise income— — 188,560 — 188,560 
Interest and fees on finance receivables— — 61,198 — 61,198 
Wholesale scrap jewelry sales26,685 11,176 — — 37,861 
Total revenue390,115 198,425 249,758 (977)837,321 
Cost of revenue:    
Cost of retail merchandise sold134,966 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 sold21,393 8,487 — — 29,880 
Total cost of revenue156,359 92,216 185,133 (994)432,714 
Net revenue
233,756 106,209 64,625 17 404,607 
Expenses and other income:    
Operating expenses128,104 63,062 33,760 — 224,926 
Administrative expenses— — — 40,930 40,930 
Depreciation and amortization7,365 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 income135,469 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 fees371,699 175,443 — — 547,142 
Leased merchandise income— — 588,801 — 588,801 
Interest and fees on finance receivables— — 175,384 — 175,384 
Wholesale scrap jewelry sales70,722 29,229 — — 99,951 
Total revenue1,144,541 599,047 764,185 (3,070)2,504,703 
Cost of revenue:    
Cost of retail merchandise sold407,329 254,188 — (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 sold57,928 23,783 — — 81,711 
Total cost of revenue465,257 277,971 569,012 (3,381)1,308,859 
Net revenue
679,284 321,076 195,173 311 1,195,844 
Expenses and other income:    
Operating expenses372,191 198,389 103,851 — 674,431 
Administrative expenses— — — 129,563 129,563 
Depreciation and amortization21,609 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 income393,800 213,588 105,929 249,284 962,601 
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 
Inventories238,668 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 fees114,022 60,538 — — 174,560 
Leased merchandise income— — 189,382 — 189,382 
Interest and fees on finance receivables— — 61,413 — 61,413 
Wholesale scrap jewelry sales17,140 8,725 — — 25,865 
Total revenue334,931 202,047 250,795 (1,472)786,301 
Cost of revenue:    
Cost of retail merchandise sold115,670 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 sold14,297 7,108 — — 21,405 
Total cost of revenue129,967 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 expenses113,976 63,907 33,641 — 211,524 
Administrative expenses— — — 45,056 45,056 
Depreciation and amortization6,586 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 income120,562 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 fees315,679 164,619 — — 480,298 
Leased merchandise income— — 562,625 — 562,625 
Interest and fees on finance receivables— — 174,247 — 174,247 
Wholesale scrap jewelry sales61,108 37,524 — — 98,632 
Total revenue987,280 580,445 736,872 (4,935)2,299,662 
Cost of revenue:    
Cost of retail merchandise sold349,138 244,439 — (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 sold49,604 29,408 — — 79,012 
Total cost of revenue398,742 273,847 541,857 (4,374)1,210,072 
Net revenue (loss)
588,538 306,598 195,015 (561)1,089,590 
Expenses and other income:    
Operating expenses331,916 179,170 104,280 — 615,366 
Administrative expenses— — — 124,428 124,428 
Depreciation and amortization18,786 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 income350,702 195,054 106,538 235,935 888,229 
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
Inventories217,40696,976——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.