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Operating Segment Information
 15 Months Ended
Dec. 31, 2011
Operating Segment Information [Abstract]  
Operating Segment Information

Note J: Operating Segment Information

We manage our business and internal reporting as three reportable segments with operating results reported separately for each segment.

 

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The U.S. Pawn Operations segment offers pawn and retail activities in our 450 U.S. pawn stores and seven retail stores, offers signature loans in 43 pawn stores and six EZMONEY stores and offers auto title loans in 44 pawn stores.

 

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The Empeño Fácil segment offers pawn related activities in 192 Mexico pawn stores.

 

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The EZMONEY Operations segment offers signature loans in 422 U.S. financial services stores, 64 Canadian financial services stores and online in the U.K. The segment offers auto title loans in 396 of its U.S. stores and buys and sells second-hand goods in 24 of its Canadian stores.

There are no inter-segment revenues, and the amounts below were determined in accordance with the same accounting principles used in our consolidated financial statements. The following tables present operating segment information:

 

                                                 
    Three Months Ended December 31,  
    U.S. Pawn Operations     Empeño Fácil     EZMONEY Operations  
    2011     2010     2011     2010     2011     2010  
    (In thousands)  

Revenues:

                                                

Merchandise sales

   $ 75,975     $ 66,305     $ 10,342     $ 5,575     $ 577     $ —    

Jewelry scrapping sales

     52,516       47,006       3,537       3,462       350       197  

Pawn service charges

     54,370       46,436       5,422       3,374       —         —    

Signature loan fees

     920       509       —         —         38,701       39,557  

Auto title loan fees

     457       393       —         —         5,010       5,851  

Other

     241       117       120       3       335       41  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total revenues

     184,479       160,766       19,421       12,414       44,973       45,646  
             

Merchandise cost of goods sold

     43,116       38,197       4,945       3,114       335       —    

Jewelry scrapping cost of goods sold

     32,973       29,538       2,274       2,638       177       79  

Signature loan bad debt

     352       165       —         —         9,749       9,881  

Auto title loan bad debt

     114       61       —         —         810       921  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net revenues

     107,924       92,805       12,202       6,662       33,902       34,765  
             

Operations expense

     50,073       43,196       5,998       4,278       18,430       17,030  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Store operating income

   $ 57,851     $ 49,609     $ 6,204     $ 2,384     $ 15,472     $ 17,735  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

The following table reconciles store operating income, as shown above, to our consolidated income before income taxes:

 

                 
    Three Months Ended December 31,  
    2011     2010  
    (In thousands)  

U.S. Pawn Operations store operating income

   $ 57,851     $ 49,609  

Empeño Fácil store operating income

     6,204       2,384  

EZMONEY Operations store operating income

     15,472       17,735  
   

 

 

    

 

 

  

Consolidated store operating income

     79,527       69,728  

Administrative expenses

     19,711       26,138  

Depreciation and amortization

     5,255       4,179  

(Gain) / loss on sale or disposal of assets

     (201 )      7  

Interest income

     (39 )      (3 ) 

Interest expense

     590       300  

Equity in net income of unconsolidated affiliates

     (4,161 )      (3,367 ) 

Other

     (1,119 )      (61 ) 
   

 

 

    

 

 

  

Consolidated income before income taxes

   $ 59,491     $ 42,535