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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2024
Income Tax Disclosure [Abstract] |
Schedule of Domestic and Foreign Income Components | The following table presents the components of our income before income taxes, including inter-segment amounts:
| Fiscal Year Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2022
Domestic* | $ | 82,703 |  |  | $ | 26,209 |  |  | $ | 49,937 |
Foreign | 32,905 |  |  | 25,424 |  |  | 17,776 |
| $ | 115,608 |  |  | $ | 51,633 |  |  | $ | 67,713 |
* Includes the majority of our corporate administrative costs. See Note 12: Segment Information for information pertaining to segment contribution.
Schedule of Components of Income Tax Provision | The following table presents the significant components of the income tax provision:
| Fiscal Year Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal | $ | 20,176 |  |  | $ | 18,753 |  |  | $ | 9,465 |
State and foreign | 10,983 |  |  | 7,219 |  |  | 3,143 |
| 31,159 |  |  | 25,972 |  |  | 12,608 |
Deferred: |  |  |  |  |
Federal | (1,719) |  |  | (11,182) |  |  | 983 |
State and foreign | 3,073 |  |  | (1,620) |  |  | 3,962 |
| 1,354 |  |  | (12,802) |  |  | 4,945 |
Total income tax expense | $ | 32,513 |  |  | $ | 13,170 |  |  | $ | 17,553 |
Schedule of Reconciliation of Income Taxes Calculated at the Statutory Rate and the Provision for Income Taxes | The following table presents a reconciliation of income taxes calculated at the statutory rate and the provision for income taxes:
| Fiscal Year Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2022
Income tax expense (benefit) at the federal statutory rate | $ | 24,278 |  |  | $ | 10,843 |  |  | $ | 14,223 |
State taxes, net of federal benefit | 3,421 |  |  | 1,814 |  |  | 1,728 |
Mexico inflation adjustment | (2,154) |  |  | (1,787) |  |  | (2,089) |
Non-deductible items | 4,169 |  |  | 2,655 |  |  | 1,705 |
Foreign rate differential | 2,098 |  |  | 2,381 |  |  | 1,306 |
Change in valuation allowance | (411) |  |  | 311 |  |  | 660 |
Stock compensation | (202) |  |  | (62) |  |  | (161) |
Uncertain tax positions | (198) |  |  | (174) |  |  | (2,025) |
Foreign withholding tax | 998 |  |  | — |  |  | — |
Deferred tax true-up | 587 |  |  | (165) |  |  | 3,811 |
Dividends received deduction | (742) |  |  | (754) |  |  | (699) |
Non-deductible loss on debt restructuring | — |  |  | 1,710 |  |  | — |
U.S. GAAP/statutory book adjustments | (239) |  |  | (1,143) |  |  | — |
Other | 908 |  |  | (2,459) |  |  | (906) |
Total income tax expense | $ | 32,513 |  |  | $ | 13,170 |  |  | $ | 17,553 |
Effective tax rate | 28 | % |  | 26 | % |  | 26 | %
Schedule of Significant Components of Deferred Tax Assets and Liabilities | The following table shows significant components of our deferred tax assets and liabilities:
| September 30,
(in thousands) | 2024 |  | 2023
Deferred tax assets: |  |  |
Cash Converters | $ | 20,051 |  |  | $ | 20,364 |
Tax over book inventory | 8,595 |  |  | 8,186 |
Accrued liabilities | 7,958 |  |  | 7,689 |
Pawn service charges receivable | 3,182 |  |  | 2,764 |
Stock compensation | 1,718 |  |  | 1,645 |
Foreign tax credit | 1,696 |  |  | 1,696 |
State and foreign net operating loss carryforwards | 13,030 |  |  | 14,547 |
Book over tax depreciation | 7,052 |  |  | 7,298 |
Operating lease liabilities | 52,444 |  |  | 56,720 |
Other | 6,510 |  |  | 7,612 |
Total deferred tax assets before valuation allowance | 122,236 |  |  | 128,521 |
Valuation allowance | (15,685) |  |  | (16,885) |
Total deferred tax assets, net | 106,551 |  |  | 111,636 |
Deferred tax liabilities: |  |  |
Tax over book amortization | 31,436 |  |  | 30,906 |
Right-of-use assets, net | 49,747 |  |  | 53,366 |
Prepaid expenses | 2,086 |  |  | 2,097 |
Total deferred tax liabilities | 83,269 |  |  | 86,369 |
Net deferred tax asset | $ | 23,282 |  |  | $ | 25,267 |
Schedule of Unrecognized Tax Benefits | The following table presents a roll-forward of unrecognized tax benefits:
| Fiscal Year Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2022
Beginning balance | $ | 3,293 |  |  | $ | 3,568 |  |  | $ | 4,763 |
Increase for tax positions taken during a prior period | 223 |  |  | 396 |  |  | 547 |
Decrease for tax positions taken during a prior period | (337) |  |  | (259) |  |  | — |
Decrease for tax positions as a result of the lapse of the statute of limitations | (378) |  |  | (412) |  |  | (1,742) |
Ending balance | $ | 2,801 |  |  | $ | 3,293 |  |  | $ | 3,568 |

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