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Segment Information | 12 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Information | NOTE 12: SEGMENT INFORMATION Our operations are primarily managed on a geographical basis and consist of three reportable segments. The factors for determining our reportable segments include the manner in which our chief operating decision maker (“CODM”) evaluates performance for purposes of allocating resources and assessing performance. We currently report our segments as follows: •U.S. Pawn — All pawn activities in the United States. •Latin America Pawn — All pawn activities in Mexico and other parts of Latin America. •Other Investments — Primarily our equity interest in Cash Converters and our investment in and notes receivable from Founders. There are no inter-segment revenues presented below, and the amounts below were determined in accordance with the same accounting principles used in our consolidated financial statements. The following income (loss) before income taxes tables present revenue for each reportable segment, disaggregated revenue within our reportable segments and Corporate, segment profits and segment contribution.
| Fiscal Year Ended September 30, 2024
(in thousands) | U.S. Pawn |  | Latin America Pawn |  | Other Investments |  | Total Segments |  | Corporate Items |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |
Merchandise sales | $ | 459,251 |  |  | $ | 204,485 |  |  | $ | — |  |  | $ | 663,736 |  |  | $ | — |  |  | $ | 663,736 |
Jewelry scrapping sales | 54,344 |  |  | 6,738 |  |  | — |  |  | 61,082 |  |  | — |  |  | 61,082 |
Pawn service charges | 322,362 |  |  | 114,183 |  |  | — |  |  | 436,545 |  |  | — |  |  | 436,545 |
Other revenues | 126 |  |  | 78 |  |  | 35 |  |  | 239 |  |  | — |  |  | 239 |
Total revenues | 836,083 |  |  | 325,484 |  |  | 35 |  |  | 1,161,602 |  |  | — |  |  | 1,161,602 |
Merchandise cost of goods sold | 288,894 |  |  | 138,509 |  |  | — |  |  | 427,403 |  |  | — |  |  | 427,403 |
Jewelry scrapping cost of goods sold | 45,926 |  |  | 6,000 |  |  | — |  |  | 51,926 |  |  | — |  |  | 51,926 |
Gross profit | 501,263 |  |  | 180,975 |  |  | 35 |  |  | 682,273 |  |  | — |  |  | 682,273 |
Segment and corporate expenses (income): |  |  |  |  |  |  |  |  |  |  |
Store expenses | 325,816 |  |  | 135,239 |  |  | — |  |  | 461,055 |  |  | — |  |  | 461,055 |
General and administrative | — |  |  | — |  |  | — |  |  | — |  |  | 75,557 |  |  | 75,557 |
Impairment of other assets | — |  |  | — |  |  | — |  |  | — |  |  | 843 |  |  | 843 |
Depreciation and amortization | 10,147 |  |  | 8,865 |  |  | — |  |  | 19,012 |  |  | 14,057 |  |  | 33,069 |
Loss (gain) on sale or disposal of assets and other | 3 |  |  | (140) |  |  | — |  |  | (137) |  |  | 121 |  |  | (16) |
Other operating income | — |  |  | — |  |  | — |  |  | — |  |  | (765) |  |  | (765) |
Interest expense | — |  |  | — |  |  | — |  |  | — |  |  | 13,585 |  |  | 13,585 |
Interest income | — |  |  | (1,612) |  |  | (2,422) |  |  | (4,034) |  |  | (6,541) |  |  | (10,575) |
Equity in net (income) loss of unconsolidated affiliates | — |  |  | — |  |  | (4,993) |  |  | (4,993) |  |  | 282 |  |  | (4,711) |
Other income | 7 |  |  | (218) |  |  | — |  |  | (211) |  |  | (1,166) |  |  | (1,377) |
Segment contribution | $ | 165,290 |  |  | $ | 38,841 |  |  | $ | 7,450 |  |  | $ | 211,581 |  |  |  |  |
Income (loss) before income taxes |  |  |  |  |  |  | $ | 211,581 |  |  | $ | (95,973) |  |  | $ | 115,608 |
| Fiscal Year Ended September 30, 2023
(in thousands) | U.S. Pawn |  | Latin America Pawn |  | Other Investments |  | Total Segments |  | Corporate Items |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |
Merchandise sales | $ | 432,578 |  |  | $ | 182,868 |  |  | $ | — |  |  | $ | 615,446 |  |  | $ | — |  |  | $ | 615,446 |
Jewelry scrapping sales | 43,305 |  |  | 6,223 |  |  | — |  |  | 49,528 |  |  | — |  |  | 49,528 |
Pawn service charges | 285,919 |  |  | 97,853 |  |  | — |  |  | 383,772 |  |  | — |  |  | 383,772 |
Other revenues | 119 |  |  | 121 |  |  | 55 |  |  | 295 |  |  | — |  |  | 295 |
Total revenues | 761,921 |  |  | 287,065 |  |  | 55 |  |  | 1,049,041 |  |  | — |  |  | 1,049,041 |
Merchandise cost of goods sold | 267,874 |  |  | 126,905 |  |  | — |  |  | 394,779 |  |  | — |  |  | 394,779 |
Jewelry scrapping cost of goods sold | 37,709 |  |  | 6,715 |  |  | — |  |  | 44,424 |  |  | — |  |  | 44,424 |
Gross profit | 456,338 |  |  | 153,445 |  |  | 55 |  |  | 609,838 |  |  | — |  |  | 609,838 |
Segment and corporate expenses (income): |  |  |  |  |  |  |  |  |  |  |
Store expenses | 299,319 |  |  | 119,255 |  |  | — |  |  | 418,574 |  |  | — |  |  | 418,574 |
General and administrative | — |  |  | (3) |  |  | — |  |  | (3) |  |  | 67,532 |  |  | 67,529 |
Impairment of other assets | — |  |  | — |  |  | — |  |  | — |  |  | 4,343 |  |  | 4,343 |
Depreciation and amortization | 10,382 |  |  | 9,191 |  |  | — |  |  | 19,573 |  |  | 12,558 |  |  | 32,131 |
Loss (gain) on sale or disposal of assets and other | 115 |  |  | (289) |  |  | — |  |  | (174) |  |  | 382 |  |  | 208 |
Other operating Income | — |  |  | (5,097) |  |  | — |  |  | (5,097) |  |  | — |  |  | (5,097) |
Interest expense | — |  |  | — |  |  | — |  |  | — |  |  | 16,456 |  |  | 16,456 |
Interest income | (2) |  |  | (1,139) |  |  | (1,500) |  |  | (2,641) |  |  | (4,829) |  |  | (7,470) |
Equity in net loss of unconsolidated affiliates | — |  |  | — |  |  | 28,459 |  |  | 28,459 |  |  | — |  |  | 28,459 |
Other (income) expense | — |  |  | (131) |  |  | 31 |  |  | (100) |  |  | 3,172 |  |  | 3,072 |
Segment contribution | $ | 146,524 |  |  | $ | 31,658 |  |  | $ | (26,935) |  |  | $ | 151,247 |  |  |  |  |
Income (loss) before income taxes |  |  |  |  |  |  | $ | 151,247 |  |  | $ | (99,614) |  |  | $ | 51,633 |
| Fiscal Year Ended September 30, 2022
(in thousands) | U.S. Pawn |  | Latin America Pawn |  | Other Investments |  | Total Segments |  | Corporate Items |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |
Merchandise sales | $ | 391,958 |  |  | $ | 140,928 |  |  | $ | — |  |  | $ | 532,886 |  |  | $ | — |  |  | $ | 532,886 |
Jewelry scrapping sales | 25,739 |  |  | 6,294 |  |  | — |  |  | 32,033 |  |  | — |  |  | 32,033 |
Pawn service charges | 240,982 |  |  | 79,883 |  |  | — |  |  | 320,865 |  |  | — |  |  | 320,865 |
Other revenues | 83 |  |  | 247 |  |  | 111 |  |  | 441 |  |  | — |  |  | 441 |
Total revenues | 658,762 |  |  | 227,352 |  |  | 111 |  |  | 886,225 |  |  | — |  |  | 886,225 |
Merchandise cost of goods sold | 230,241 |  |  | 99,141 |  |  | — |  |  | 329,382 |  |  | — |  |  | 329,382 |
Jewelry scrapping cost of goods sold | 22,755 |  |  | 5,941 |  |  | — |  |  | 28,696 |  |  | — |  |  | 28,696 |
Gross profit | 405,766 |  |  | 122,270 |  |  | 111 |  |  | 528,147 |  |  | — |  |  | 528,147 |
Segment and corporate expenses (income): |  |  |  |  |  |  |  |  |  |  |
Store expenses | 266,114 |  |  | 91,303 |  |  | — |  |  | 357,417 |  |  | — |  |  | 357,417 |
General and administrative | — |  |  | — |  |  | — |  |  | — |  |  | 64,342 |  |  | 64,342 |
Depreciation and amortization | 10,552 |  |  | 7,913 |  |  | — |  |  | 18,465 |  |  | 13,675 |  |  | 32,140 |
Loss (gain) on sale or disposal of assets | 51 |  |  | (37) |  |  | — |  |  | 14 |  |  | (688) |  |  | (674) |
Interest expense | — |  |  | — |  |  | — |  |  | — |  |  | 9,972 |  |  | 9,972 |
Interest income | (2) |  |  | (815) |  |  | — |  |  | (817) |  |  | — |  |  | (817) |
Equity in net income of unconsolidated affiliates | — |  |  | — |  |  | (1,779) |  |  | (1,779) |  |  | — |  |  | (1,779) |
Other (income) expense | — |  |  | (148) |  |  | 52 |  |  | (96) |  |  | (71) |  |  | (167) |
Segment contribution | $ | 129,051 |  |  | $ | 24,054 |  |  | $ | 1,838 |  |  | $ | 154,943 |  |  |  |  |
Income (loss) before income taxes |  |  |  |  |  |  | $ | 154,943 |  |  | $ | (87,230) |  |  | $ | 67,713 |
The following table presents separately identified segment assets:
(in thousands) | U.S. Pawn |  | Latin America Pawn |  |  |  | Other Investments(a) |  | Corporate |  | Total
Assets as of September 30, 2024 |  |  |  |  |  |  |  |  |  |  |
Pawn loans | $ | 214,306 |  |  | $ | 59,778 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 274,084 |
Pawn service charges receivable, net | 39,194 |  |  | 4,819 |  |  |  |  | — |  |  | — |  |  | 44,013 |
Inventory, net | 138,624 |  |  | 53,299 |  |  |  |  | — |  |  | — |  |  | 191,923 |
Total assets | 1,009,226 |  |  | 311,824 |  |  |  |  | 79,421 |  |  | 92,766 |  |  | 1,493,237 |
Assets as of September 30, 2023 |  |  |  |  |  |  |  |  |  |  |
Pawn loans | $ | 190,624 |  |  | $ | 55,142 |  |  |  |  | $ | — |  |  | $ | — |  |  | 245,766 |
Pawn service charges receivable, net | 34,318 |  |  | 4,567 |  |  |  |  | — |  |  | — |  |  | 38,885 |
Inventory, net | 128,901 |  |  | 37,576 |  |  |  |  | — |  |  | — |  |  | 166,477 |
Total assets | 984,539 |  |  | 313,164 |  |  |  |  | 63,707 |  |  | 106,301 |  |  | 1,467,711 |
(a) Segment assets as of September 30, 2023 have been recast to conform to current year presentation as CCV no longer meets the 10 percent threshold to be considered its own segment The following tables provide geographic information:
| Fiscal Year Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2022
Revenues: |  |  |  |  |
United States | $ | 836,083 |  |  | $ | 761,921 |  |  | $ | 658,762 |
Mexico | 247,613 |  |  | 223,765 |  |  | 173,122 |
Other Latin America | 77,871 |  |  | 63,300 |  |  | 54,230 |
Other Investments | 35 |  |  | 55 |  |  | 111 |
Total revenues | $ | 1,161,602 |  |  | $ | 1,049,041 |  |  | $ | 886,225 |
| September 30, |  |
(in thousands) | 2024 |  | 2023 |  |
Property and equipment, net: |  |  |  |  |
United States | $ | 35,634 |  |  | $ | 37,695 |  |  |
Mexico | 21,839 |  |  | $ | 24,033 |  |  |
Other Latin America | 8,500 |  |  | $ | 6,368 |  |  |
Property and equipment, net | $ | 65,973 |  |  | $ | 68,096 |  |  |

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- 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 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