XML 71 R23.htm IDEA: XBRL DOCUMENT
v3.19.3

Segment Information | 12 Months Ended
--- | ---
Sep. 30, 2019
Segment Reporting [Abstract] |
Segment Information | NOTE 15: SEGMENT INFORMATION We are organized into operating segments based on geographic areas. These operating segments have been aggregated into three reportable business segments as follows: U.S. Pawn — all pawn activities in the United States; Latin America Pawn — all pawn activities in Mexico, Central America and South America; and Other International — primarily our equity interest in the net income of Cash Converters International and consumer finance activities in Canada. Segment information is prepared on the same basis that our chief operating decision maker reviews financial information for operational decision-making purposes. There are no material inter-segment revenues, and the amounts below were determined in accordance with the same accounting principles used in our consolidated financial statements.
| Fiscal Year Ended September 30, 2019
| U.S. Pawn |  | Latin America Pawn |  | Other International |  | Total Segments |  | Corporate Items |  | Consolidated
| (in thousands)
Revenues: |  |  |  |  |  |  |  |  |  |  |
Merchandise sales | $ | 355,996 |  |  | $ | 97,379 |  |  | $ | — |  |  | $ | 453,375 |  |  | $ | — |  |  | $ | 453,375 |
Jewelry scrapping sales | 45,815 |  |  | 14,630 |  |  | — |  |  | 60,445 |  |  | — |  |  | 60,445 |
Pawn service charges | 248,369 |  |  | 78,997 |  |  | — |  |  | 327,366 |  |  | — |  |  | 327,366 |
Other revenues | 233 |  |  | 179 |  |  | 5,631 |  |  | 6,043 |  |  | — |  |  | 6,043 |
Total revenues | 650,413 |  |  | 191,185 |  |  | 5,631 |  |  | 847,229 |  |  | — |  |  | 847,229 |
Merchandise cost of goods sold | 225,136 |  |  | 72,372 |  |  | — |  |  | 297,508 |  |  | — |  |  | 297,508 |
Jewelry scrapping cost of goods sold | 39,318 |  |  | 13,617 |  |  | — |  |  | 52,935 |  |  | — |  |  | 52,935 |
Other cost of revenues | — |  |  | — |  |  | 2,338 |  |  | 2,338 |  |  | — |  |  | 2,338 |
Net revenues | 385,959 |  |  | 105,196 |  |  | 3,293 |  |  | 494,448 |  |  | — |  |  | 494,448 |
Operating expenses (income): |  |  |  |  |  |  |  |  |  |  |
Operations | 269,003 |  |  | 74,199 |  |  | 7,376 |  |  | 350,578 |  |  | — |  |  | 350,578 |
Administrative | — |  |  | — |  |  | — |  |  | — |  |  | 63,665 |  |  | 63,665 |
Depreciation and amortization | 11,879 |  |  | 6,267 |  |  | 219 |  |  | 18,365 |  |  | 10,432 |  |  | 28,797 |
Loss on sale or disposal of assets and other | 3,402 |  |  | 691 |  |  | 282 |  |  | 4,375 |  |  | 24 |  |  | 4,399 |
Interest expense | — |  |  | 1,609 |  |  | 491 |  |  | 2,100 |  |  | 30,537 |  |  | 32,637 |
Interest income | — |  |  | (1,601 | ) |  | — |  |  | (1,601 | ) |  | (9,485 | ) |  | (11,086 | )
Equity in net loss of unconsolidated affiliates | — |  |  | — |  |  | 135 |  |  | 135 |  |  | — |  |  | 135 |
Impairment of investment in unconsolidated affiliates | — |  |  | — |  |  | 19,725 |  |  | 19,725 |  |  | — |  |  | 19,725 |
Other expense (income) | — |  |  | (93 | ) |  | 1,895 |  |  | 1,802 |  |  | (378 | ) |  | 1,424 |
Segment contribution (loss) | $ | 101,675 |  |  | $ | 24,124 |  |  | $ | (26,830 | ) |  | $ | 98,969 |  |  |  |  |  |  |
Income from continuing operations before income taxes |  |  |  |  |  |  | $ | 98,969 |  |  | $ | (94,795 | ) |  | $ | 4,174 |
| Fiscal Year Ended September 30, 2018
| U.S. Pawn |  | Latin America Pawn |  | Other International |  | Total Segments |  | Corporate Items |  | Consolidated
| (in thousands)
Revenues: |  |  |  |  |  |  |  |  |  |  |
Merchandise sales | $ | 350,699 |  |  | $ | 87,673 |  |  | $ | — |  |  | $ | 438,372 |  |  | $ | — |  |  | $ | 438,372 |
Jewelry scrapping sales | 47,745 |  |  | 13,007 |  |  | — |  |  | 60,752 |  |  | — |  |  | 60,752 |
Pawn service charges | 237,086 |  |  | 67,491 |  |  | — |  |  | 304,577 |  |  | — |  |  | 304,577 |
Other revenues | 250 |  |  | 85 |  |  | 8,120 |  |  | 8,455 |  |  | — |  |  | 8,455 |
Total revenues | 635,780 |  |  | 168,256 |  |  | 8,120 |  |  | 812,156 |  |  | — |  |  | 812,156 |
Merchandise cost of goods sold | 216,408 |  |  | 60,210 |  |  | — |  |  | 276,618 |  |  | — |  |  | 276,618 |
Jewelry scrapping cost of goods sold | 40,417 |  |  | 11,873 |  |  | — |  |  | 52,290 |  |  | — |  |  | 52,290 |
Other cost of revenues | — |  |  | — |  |  | 1,697 |  |  | 1,697 |  |  | — |  |  | 1,697 |
Net revenues | 378,955 |  |  | 96,173 |  |  | 6,423 |  |  | 481,551 |  |  | — |  |  | 481,551 |
Operating expenses (income): |  |  |  |  |  |  |  |  |  |  |
Operations | 263,094 |  |  | 61,553 |  |  | 10,194 |  |  | 334,841 |  |  | — |  |  | 334,841 |
Administrative | — |  |  | — |  |  | — |  |  | — |  |  | 53,639 |  |  | 53,639 |
Depreciation and amortization | 12,869 |  |  | 4,068 |  |  | 184 |  |  | 17,121 |  |  | 8,363 |  |  | 25,484 |
Loss on sale or disposal of assets | 203 |  |  | 27 |  |  | — |  |  | 230 |  |  | 233 |  |  | 463 |
Interest expense | 71 |  |  | 25 |  |  | — |  |  | 96 |  |  | 27,738 |  |  | 27,834 |
Interest income | — |  |  | (2,619 | ) |  | — |  |  | (2,619 | ) |  | (14,422 | ) |  | (17,041 | )
Equity in net income of unconsolidated affiliates | — |  |  | — |  |  | (5,529 | ) |  | (5,529 | ) |  | — |  |  | (5,529 | )
Impairment of investment | — |  |  | — |  |  | 11,712 |  |  | 11,712 |  |  | — |  |  | 11,712 |
Other income | (3 | ) |  | (42 | ) |  | (132 | ) |  | (177 | ) |  | (5,214 | ) |  | (5,391 | )
Segment contribution (loss) | $ | 102,721 |  |  | $ | 33,161 |  |  | $ | (10,006 | ) |  | $ | 125,876 |  |  |  |  |  |  |
Income from continuing operations before income taxes |  |  |  |  |  |  | $ | 125,876 |  |  | $ | (70,337 | ) |  | $ | 55,539 |
| Fiscal Year Ended September 30, 2017
| U.S. Pawn |  | Latin America Pawn |  | Other International |  | Total Segments |  | Corporate Items |  | Consolidated
| (in thousands)
Revenues: |  |  |  |  |  |  |  |  |  |  |
Merchandise sales | $ | 351,878 |  |  | $ | 62,957 |  |  | $ | 3 |  |  | $ | 414,838 |  |  | $ | — |  |  | $ | 414,838 |
Jewelry scrapping sales | 48,203 |  |  | 2,986 |  |  | — |  |  | 51,189 |  |  | — |  |  | 51,189 |
Pawn service charges | 238,645 |  |  | 34,432 |  |  | — |  |  | 273,077 |  |  | — |  |  | 273,077 |
Other revenues | 219 |  |  | 645 |  |  | 7,983 |  |  | 8,847 |  |  | — |  |  | 8,847 |
Total revenues | 638,945 |  |  | 101,020 |  |  | 7,986 |  |  | 747,951 |  |  | — |  |  | 747,951 |
Merchandise cost of goods sold | 223,475 |  |  | 43,050 |  |  | — |  |  | 266,525 |  |  | — |  |  | 266,525 |
Jewelry scrapping cost of goods sold | 41,434 |  |  | 2,497 |  |  | — |  |  | 43,931 |  |  | — |  |  | 43,931 |
Other cost of revenues | — |  |  | — |  |  | 1,988 |  |  | 1,988 |  |  | — |  |  | 1,988 |
Net revenues | 374,036 |  |  | 55,473 |  |  | 5,998 |  |  | 435,507 |  |  | — |  |  | 435,507 |
Operating expenses (income): |  |  |  |  |  |  |  |  |  |  |
Operations | 260,089 |  |  | 36,419 |  |  | 8,448 |  |  | 304,956 |  |  | — |  |  | 304,956 |
Administrative | — |  |  | — |  |  | — |  |  | — |  |  | 53,492 |  |  | 53,492 |
Depreciation and amortization | 10,171 |  |  | 2,675 |  |  | 191 |  |  | 13,037 |  |  | 10,624 |  |  | 23,661 |
Loss on sale or disposal of assets | 198 |  |  | 134 |  |  | — |  |  | 332 |  |  | 27 |  |  | 359 |
Interest expense | — |  |  | 9 |  |  | — |  |  | 9 |  |  | 27,794 |  |  | 27,803 |
Interest income | — |  |  | (1,930 | ) |  | — |  |  | (1,930 | ) |  | (10,173 | ) |  | (12,103 | )
Equity in net income of unconsolidated affiliates | — |  |  | — |  |  | (4,916 | ) |  | (4,916 | ) |  | — |  |  | (4,916 | )
Other income | (19 | ) |  | (69 | ) |  | (96 | ) |  | (184 | ) |  | (239 | ) |  | (423 | )
Segment contribution | $ | 103,597 |  |  | $ | 18,235 |  |  | $ | 2,371 |  |  | $ | 124,203 |  |  |  |  |
Income from continuing operations before income taxes |  |  |  |  |  |  | $ | 124,203 |  |  | $ | (81,525 | ) |  | $ | 42,678 |
The following table presents separately identified segment assets:
| U.S. Pawn |  | Latin America Pawn |  | Other International |  | Corporate |  | Total
| (in thousands)
Assets as of September 30, 2019 |  |  |  |  |  |  |  |  |
Pawn loans | $ | 157,408 |  |  | $ | 41,650 |  |  | $ | — |  |  | $ | — |  |  | $ | 199,058 |
Pawn service charges receivable, net | 27,623 |  |  | 4,179 |  |  | — |  |  | — |  |  | 31,802 |
Inventory, net | 142,266 |  |  | 37,089 |  |  | — |  |  | — |  |  | 179,355 |
Total assets | 635,152 |  |  | 202,565 |  |  | 35,041 |  |  | 210,944 |  |  | 1,083,702 |
Assets as of September 30, 2018 |  |  |  |  |  |  |  |  |
Pawn loans | $ | 154,986 |  |  | $ | 43,477 |  |  | $ | — |  |  | $ | — |  |  | $ | 198,463 |
Pawn service charges receivable, net | 26,380 |  |  | 4,579 |  |  | — |  |  | — |  |  | 30,959 |
Inventory, net | 135,154 |  |  | 31,843 |  |  | — |  |  | — |  |  | 166,997 |
Total assets | 624,174 |  |  | 185,631 |  |  | 56,776 |  |  | 375,199 |  |  | 1,241,780 |
The net assets of our Latin America Pawn segment, exclusive of intercompany amounts and inclusive of certain other assets not separately identified above, were $205.3 million as of September 30, 2019. The following tables provide geographic information required by ASC 280-10-50-41:
| Fiscal Year Ended September 30,
| 2019 |  | 2018 |  | 2017
| (in thousands)
Revenues: |  |  |  |  |
United States | $ | 650,413 |  |  | $ | 635,780 |  |  | $ | 638,945 |
Mexico | 138,897 |  |  | 122,702 |  |  | 101,020 |
Other Latin America | 52,288 |  |  | 45,554 |  |  | — |
Canada and other | 5,631 |  |  | 8,120 |  |  | 7,986 |
Total revenues | $ | 847,229 |  |  | $ | 812,156 |  |  | $ | 747,951 |
| September 30,
| 2019 |  | 2018
| (in thousands)
Long-lived tangible assets: |  |  |
United States | $ | 43,274 |  |  | $ | 52,310 |
Mexico | 18,566 |  |  | 18,497 |
Other Latin America | 5,432 |  |  | 2,489 |
Canada and other | 85 |  |  | 353 |
Total long-lived assets | $ | 67,357 |  |  | $ | 73,649 |

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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration