0000840489-22-000049 | 10-Q | XBRL Viewer

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2022	Apr. 27, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-10960
Entity Registrant Name	FIRSTCASH HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-3920732
Entity Address, Address Line One	1600 West 7th Street
Entity Address, City or Town	Fort Worth
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76102
City Area Code	817
Local Phone Number	335-1100
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	FCFS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		47,464,357
Entity Central Index Key	0000840489
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Current assets
Cash and cash equivalents	$ 113,317	$ 120,046	$ 54,641
Accounts receivable, net	52,017	55,356	35,334
Pawn loans	344,101	347,973	265,438
Finance receivables, net	140,481	181,021	0
Inventories	247,276	263,311	185,336
Leased merchandise, net	119,147	143,944	0
Prepaid expenses and other current assets	22,592	17,707	16,865
Total current assets	1,038,931	1,129,358	557,614
Property and equipment, net	471,193	462,526	384,617
Operating lease right of use asset	303,444	306,061	287,418
Goodwill	1,541,424	1,536,178	974,051
Intangible assets, net	373,928	388,184	83,229
Other assets	8,318	8,531	9,365
Deferred tax assets, net	5,930	5,614	3,869
Total assets	3,743,168	3,836,452	2,300,163
Current liabilities
Accounts payable and accrued liabilities	237,164	244,327	86,714
Customer deposits and prepayments	57,874	57,310	38,727
Lease liability, current	92,091	90,570	86,529
Total current liabilities	387,129	392,207	211,970
Revolving unsecured credit facilities	218,000	259,000	44,000
Senior unsecured notes	1,034,355	1,033,904	493,108
Deferred tax liabilities, net	126,741	126,098	73,020
Lease liability, non-current	198,760	203,166	186,972
Other liabilities	13,950	13,950	0
Total liabilities	1,978,935	2,028,325	1,009,070
Stockholders’ equity:
Common stock	573	573	493
Additional paid-in capital	1,726,750	1,724,956	1,218,323
Retained earnings	880,138	866,679	811,921
Accumulated other comprehensive loss	(119,510)	(131,299)	(130,767)
Common stock held in treasury, at cost	(723,718)	(652,782)	(608,877)
Total stockholders’ equity	1,764,233	1,808,127	1,291,093
Total liabilities and stockholders’ equity	$ 3,743,168	$ 3,836,452	$ 2,300,163

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Retail merchandise sales	$ 302,819	$ 272,042
Pawn loan fees	131,819	115,522
Leased merchandise income	149,947	0
Interest and fees on finance receivables	42,449	0
Wholesale scrap jewelry sales	32,805	20,375
Total revenue	659,839	407,939
Cost of revenue:
Cost of retail merchandise sold	182,214	157,153
Depreciation of leased merchandise	93,706	0
Provision for lease losses	39,820	0
Provision for loan losses	24,697	0
Cost of wholesale scrap jewelry sold	28,215	17,197
Total cost of revenue	368,652	174,350
Net revenue	291,187	233,589
Expenses and other income:
Operating expenses	173,296	137,324
Administrative expenses	36,863	30,999
Depreciation and amortization	25,542	10,612
Interest expense	16,221	7,230
Interest income	(676)	(158)
(Gain) loss on foreign exchange	(480)	267
Merger and acquisition expenses	665	166
Loss on revaluation of contingent acquisition consideration	2,570	0
Impairments and dispositions of certain other assets	177	878
Total expenses and other income	254,178	187,318
Income (loss) before income taxes	37,009	46,271
Provision for income taxes	9,004	12,556
Net income	$ 28,005	$ 33,715
Earnings per share:
Basic (USD per share)	$ 0.58	$ 0.82
Diluted (USD per share)	$ 0.58	$ 0.82

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 28,005	$ 33,715
Other comprehensive income:
Currency translation adjustment	11,789	(12,335)
Comprehensive income	$ 39,794	$ 21,380

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Common Stock Held in Treasury
Balance at beginning of period (shares) at Dec. 31, 2020		49,276				8,238
Balance at beginning of period at Dec. 31, 2020	$ 1,283,815	$ 493	$ 1,221,788	$ 789,303	$ (118,432)	$ (609,337)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under share-based compensation plan	(1,663)		(7,090)			$ 5,427
Shares issued under share-based compensation plan (shares)						(73)
Share-based compensation expense	3,625		3,625
Net income	33,715			33,715
Cash dividends	(11,097)			(11,097)
Currency translation adjustment	(12,335)				(12,335)
Purchases of treasury stock (shares)						84
Purchases of treasury stock	(4,967)					$ (4,967)
Balance at end of period (shares) at Mar. 31, 2021		49,276				8,249
Balance at end of period at Mar. 31, 2021	1,291,093	$ 493	1,218,323	811,921	(130,767)	$ (608,877)
Balance at beginning of period (shares) at Dec. 31, 2021		57,322				8,843
Balance at beginning of period at Dec. 31, 2021	1,808,127	$ 573	1,724,956	866,679	(131,299)	$ (652,782)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under share-based compensation plan	0		(1,281)			$ 1,281
Shares issued under share-based compensation plan (shares)						(17)
Share-based compensation expense	3,075		3,075
Net income	28,005			28,005
Cash dividends	(14,546)			(14,546)
Currency translation adjustment	11,789				11,789
Purchases of treasury stock (shares)						1,048
Purchases of treasury stock	(72,217)					$ (72,217)
Balance at end of period (shares) at Mar. 31, 2022		57,322				9,874
Balance at end of period at Mar. 31, 2022	$ 1,764,233	$ 573	$ 1,726,750	$ 880,138	$ (119,510)	$ (723,718)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Shares withheld for tax withholding obligation (in shares)		28
Cash dividends (USD per share)	$ 0.30	$ 0.27

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Cash flow from operating activities:

Net income

$ 28,005

$ 33,715

Adjustments to reconcile net income to net cash flow provided by operating activities:

Depreciation of leased merchandise

93,706

Provision for lease losses

39,820

Provision for loan losses

24,697

Share-based compensation expense

3,075

3,625

Depreciation and amortization expense

25,542

10,612

Amortization of debt issuance costs

732

395

Net amortization of premiums, discounts and unearned origination fees on finance receivables

15,782

Loss on revaluation of contingent acquisition consideration

2,570

Impairments and dispositions of certain other assets

177

878

Deferred income taxes, net

493

2,010

Changes in operating assets and liabilities, net of business combinations:

Accounts receivable, net

3,746

5,394

Inventories purchased directly from customers, wholesalers or manufacturers

7,075

1,442

Leased merchandise, net

(108,729)

Prepaid expenses and other assets

(1,165)

868

Accounts payable, accrued liabilities and other liabilities

(14,707)

3,122

Income taxes

(674)

7,113

Net cash flow provided by operating activities

120,145

69,174

Cash flow from investing activities:

Pawn loans, net

^[1]

17,383

42,394

Finance receivables, net

Purchases of furniture, fixtures, equipment and improvements

(7,028)

(9,491)

Purchases of store real property

(10,233)

(14,441)

Acquisitions of pawn stores, net of cash acquired

(1,204)

Net cash flow provided by investing activities

183

17,258

Cash flow from financing activities:

Borrowings from unsecured credit facilities

39,000

45,000

Repayments of unsecured credit facilities

(80,000)

(124,000)

Debt issuance costs paid

(132)

Purchases of treasury stock

(72,217)

(4,967)

Payment of withholding taxes on net share settlements of restricted stock unit awards and stock options exercised

(1,663)

Dividends paid

(14,546)

(11,097)

Net cash flow used in financing activities

(127,895)

(96,727)

Effect of exchange rates on cash

838

(914)

Change in cash and cash equivalents

(6,729)

(11,209)

Cash and cash equivalents at beginning of the period

120,046

65,850

Cash and cash equivalents at end of the period

$ 113,317

$ 54,641

[1]	Includes the funding of new pawn loans net of cash repayments and recovery of principal through the sale of inventories acquired from forfeiture of pawn collateral.

General	3 Months Ended
General	Mar. 31, 2022
Accounting Policies [Abstract]
General	General Basis of Presentation The accompanying consolidated balance sheet as of December 31, 2021, which is derived from audited consolidated financial statements, and the unaudited consolidated financial statements, including the notes thereto, includes the accounts of FirstCash Holdings, Inc. and its wholly-owned subsidiaries (together, the “Company”). The Company regularly makes acquisitions, and the results of operations for the acquired stores have been consolidated since the acquisition dates. All significant intercompany accounts and transactions have been eliminated. These unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include certain information and disclosures required for comprehensive financial statements. These interim period financial statements should be read in conjunction with the Company’s audited consolidated financial statements, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2022. The consolidated financial statements as of March 31, 2022 and 2021, and for the three month periods ended March 31, 2022 and 2021, are unaudited, but in management’s opinion include all adjustments (consisting of only normal recurring adjustments) considered necessary to present fairly the financial position, results of operations and cash flow for such interim periods. Operating results for the period ended March 31, 2022 are not necessarily indicative of the results that may be expected for the full year. On December 17, 2021, the Company completed the acquisition (the “AFF Acquisition”) of American First Finance (“AFF”), which is a leading technology-driven retail point-of-sale (“POS”) payment solutions platform primarily focused on providing lease-to-own (“LTO”) products. The Company has operations in Latin America, where in Mexico, Guatemala and Colombia, the functional currency is the Mexican peso, Guatemalan quetzal and Colombian peso. Accordingly, the assets and liabilities of these subsidiaries are translated into U.S. dollars at the exchange rate in effect at each balance sheet date, and the resulting adjustments are accumulated in other comprehensive income (loss) as a separate component of stockholders’ equity. Revenues and expenses are translated at the average exchange rates occurring during the respective period. The Company also has operations in El Salvador where the reporting and functional currency is the U.S. dollar. Use of Estimates The preparation of interim financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and related revenue and expenses, and the disclosure of gain and loss contingencies at the date of the financial statements. Such estimates and assumptions are subject to a number of risks and uncertainties, which may cause actual results to differ materially from the Company’s estimates. Reclassification Certain amounts in the consolidated balance sheets as of March 31, 2021 and December 31, 2021 and the consolidated statements of income and consolidated statements of cash flows for the three months ended March 31, 2021 have been reclassified in order to conform to the 2022 presentation. Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board issued ASU No 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”). ASU 2020-04 provides temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank-offered rates to alternative reference rates. ASU 2020-04 was effective beginning on March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company does not expect ASU 2020-04 to have a material effect on the Company’s current financial position, results of operations or financial statement disclosures. In March 2022, the Financial Accounting Standards Board issued ASU No 2022-02, “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” (“ASU 2022-02”). ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings by creditors while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors made to borrowers experiencing financial difficulty. In addition, the amendments require disclosure of current period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. ASU 2022-02 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years for entities. Early adoption is permitted if an entity has adopted the CECL accounting standard. Except for expanded disclosures to its vintage disclosures, the Company does not expect ASU 2022-02 to have a material effect on the Company’s current financial position, results of operations or financial statements.

Earnings Per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended
	March 31,
	2022		2021
Numerator:
Net income	$	28,005	$	33,715



Denominator:
Weighted-average common shares for calculating basic earnings per share	48,241		41,034
Effect of dilutive securities:
Stock options and restricted stock unit awards	59		22
Weighted-average common shares for calculating diluted earnings per share	48,300		41,056

Earnings per share:
Basic	$	0.58	$	0.82
Diluted	$	0.58	$	0.82

Operating Leases

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Operating Leases

Lessor

For information about the Company’s revenue-generating activities as a lessor, refer to Note 2 to the consolidated financial statements included in the Company’s 2021 Annual Report on Form 10-K. All of the Company’s lease agreements are considered operating leases.

Lessee

The Company leases the majority of its pawnshop locations and certain administrative offices under operating leases and determines if an arrangement is or contains a lease at inception. Many leases include both lease and non-lease components, for which the Company accounts separately. Lease components include rent, taxes and insurance costs while non-lease components include common area or other maintenance costs. Operating leases are included in operating lease right of use assets, lease liability, current and lease liability, non-current in the consolidated balance sheets. The Company does not have any finance leases.

Leased facilities are generally leased for a term of three to five years with one or more options to renew for an additional three to five years, typically at the Company’s sole discretion. In addition, the majority of these leases can be terminated early upon an adverse change in law which negatively affects the store’s profitability. The Company regularly evaluates renewal and termination options to determine if the Company is reasonably certain to exercise the option, and excludes these options from the lease term included in the recognition of the operating lease right of use asset and lease liability until such certainty exists. The weighted-average remaining lease term for operating leases was 4.1 years for both March 31, 2022 and 2021.

The operating lease right of use asset and lease liability is recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The Company’s leases do not provide an implicit rate and therefore, it uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The Company utilizes a portfolio approach for determining the incremental borrowing rate to apply to groups of leases with similar characteristics. The weighted-average discount rate used to measure the lease liability as of March 31, 2022 and 2021 was 6.1% and 6.7%, respectively.

The Company has certain operating leases in Mexico which are denominated in U.S. dollars. The liability related to these leases is considered a monetary liability and requires remeasurement each reporting period into the functional currency (Mexican pesos) using reporting date exchange rates. The remeasurement results in the recognition of foreign currency exchange gains or losses each reporting period, which can produce a certain level of earnings volatility. The Company recognized a foreign currency gain of $0.7 million and a loss of $0.6 million during the three months ended March 31, 2022 and 2021, respectively, related to the remeasurement of these U.S. dollar denominated operating leases, which is included in (gain) loss on foreign exchange in the accompanying consolidated statements of income.

Lease expense is recognized on a straight-line basis over the lease term, with variable lease expense recognized in the period such payments are incurred. The following table details the components of lease expense included in operating expenses in the consolidated statements of income during the three months ended March 31, 2022 and 2021 (in thousands):


	Three Months Ended
	March 31,
	2022		2021
Operating lease expense	$	31,528	$	31,065
Variable lease expense (1)	4,174		3,834
Total operating lease expense	$	35,702	$	34,899

(1)Variable lease costs consist primarily of taxes, insurance and common area or other maintenance costs paid based on actual costs incurred by the lessor and can therefore vary over the lease term.

The following table details the maturity of lease liabilities for all operating leases as of March 31, 2022 (in thousands):


Nine months ending December 31, 2022	$	81,751
2023	91,376
2024	67,484
2025	41,008
2026	21,792
Thereafter	25,194
Total	$	328,605
Less amount of lease payments representing interest	(37,754)
Total present value of lease payments	$	290,851

The following table details supplemental cash flow information related to operating leases for the three months ended March 31, 2022 and 2021 (in thousands):


	Three Months Ended
	March 31,
	2022		2021
Cash paid for amounts included in the measurement of operating lease liabilities	$	29,132	$	28,186
Leased assets obtained in exchange for new operating lease liabilities	$	18,946	$	16,778

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The fair value of financial instruments is determined by reference to various market data and other valuation techniques, as appropriate. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The three fair value levels are (from highest to lowest):

Level 1: Quoted market prices in active markets for identical assets or liabilities.

Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.

Level 3: Unobservable inputs that are not corroborated by market data.

Recurring Fair Value Measurements

The Company’s financial assets and liabilities as of March 31, 2022 and December 31, 2021 that are measured at fair value on a recurring basis are as follows (in thousands):


	Estimated Fair Value
	March 31,		Fair Value Measurements Using
	2022		Level 1		Level 2		Level 3
Financial liabilities:
Contingent AFF acquisition consideration (1)	$	112,119	$	—	$	—	$	112,119

(1)The current portion of $98.2 million is included in accounts payable and accrued liabilities, and the non-current portion of $14.0 million is included in other liabilities in the accompanying consolidated balance sheets.


	Estimated Fair Value
	December 31,		Fair Value Measurements Using
	2021		Level 1		Level 2		Level 3
Financial liabilities:
Contingent AFF acquisition consideration (1)	$	109,549	$	—	$	—	$	109,549

(1)The current portion of $95.6 million is included in accounts payable and accrued liabilities and the non-current portion of $14.0 million is included in other liabilities in the accompanying consolidated balance sheets.

The Company revalues the contingent AFF acquisition consideration to fair value at the end of each reporting period. The estimate of the fair value of contingent AFF acquisition consideration is determined by applying a Monte Carlo simulation, which includes inputs not observable in the market, such as the risk-free rate, risk-adjusted discount rate, the volatility of the underlying financial metrics and projected financial forecast of AFF over the earn-out period, and therefore represents a Level 3 measurement. Significant increases or decreases in these inputs could result in a significantly lower or higher fair value measurement of the contingent AFF acquisition consideration.

The changes in financial assets and liabilities that are measured and recorded at fair value on a recurring basis using Level 3 fair value measurements for the three months ended March 31, 2022 is as follows (in thousands):


	Contingent Consideration
Contingent AFF acquisition consideration as of December 31, 2021	$	109,549
Change in fair value (1)	2,570
Balance at March 31, 2022	$	112,119

(1) The Company recognized a $2.6 million loss during the three months ended March 31, 2022 as a result of the change in fair value of the contingent AFF acquisition consideration, which is included in loss on revaluation of contingent acquisition consideration in the accompanying consolidated statement of income.

There were no transfers in or out of Level 1, 2 or 3 during the three months ended March 31, 2022, and the Company did not have any financial assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2021.

Fair Value Measurements on a Non-Recurring Basis

The Company measures non-financial assets and liabilities, such as property and equipment and intangible assets, at fair value on a non-recurring basis, or when events or circumstances indicate that the carrying amount of the assets may be impaired.

Financial Assets and Liabilities Not Measured at Fair Value, But for Which Fair Value is Disclosed

The Company’s financial assets and liabilities as of March 31, 2022, 2021 and December 31, 2021 that are not measured at fair value in the consolidated balance sheets are as follows (in thousands):


	Carrying Value		Estimated Fair Value
	March 31,		March 31,		Fair Value Measurements Using
	2022		2022		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	113,317	$	113,317	$	113,317	$	—	$	—
Accounts receivable, net	52,017		52,017		—		—		52,017
Pawn loans	344,101		344,101		—		—		344,101
Finance receivables, net	140,481		180,819		—		—		180,819
	$	649,916	$	690,254	$	113,317	$	—	$	576,937

Financial liabilities:
Revolving unsecured credit facilities	$	218,000	$	218,000	$	—	$	218,000	$	—
Senior unsecured notes (outstanding principal)	1,050,000		992,000		—		992,000		—
	$	1,268,000	$	1,210,000	$	—	$	1,210,000	$	—


	Carrying Value		Estimated Fair Value
	March 31,		March 31,		Fair Value Measurements Using
	2021		2021		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	54,641	$	54,641	$	54,641	$	—	$	—
Accounts receivable, net	35,334		35,334		—		—		35,334
Pawn loans	265,438		265,438		—		—		265,438

	$	355,413	$	355,413	$	54,641	$	—	$	300,772

Financial liabilities:
Revolving unsecured credit facilities	$	44,000	$	44,000	$	—	$	44,000	$	—
Senior unsecured notes (outstanding principal)	500,000		506,000		—		506,000		—
	$	544,000	$	550,000	$	—	$	550,000	$	—


	Carrying Value		Estimated Fair Value
	December 31,		December 31,		Fair Value Measurements Using
	2021		2021		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	120,046	$	120,046	$	120,046	$	—	$	—
Accounts receivable, net	55,356		55,356		—		—		55,356
Pawn loans	347,973		347,973		—		—		347,973
Finance receivables, net	181,021		233,000		—		—		233,000
	$	704,396	$	756,375	$	120,046	$	—	$	636,329

Financial liabilities:
Revolving unsecured credit facilities	$	259,000	$	259,000	$	—	$	259,000	$	—
Senior unsecured notes (outstanding principal)	1,050,000		1,058,000		—		1,058,000		—
	$	1,309,000	$	1,317,000	$	—	$	1,317,000	$	—

As cash and cash equivalents have maturities of less than three months, the carrying value of cash and cash equivalents approximates fair value. Due to their short-term maturities, the carrying value of pawn loans and accounts receivable, net approximate fair value.

Finance receivables are measured at amortized cost, net of an allowance for loan losses on the consolidated balance sheets. In estimating fair value for finance receivables, the Company utilized a discounted cash flow methodology. The Company used various unobservable inputs reflecting its own assumptions, such as contractual future principal and interest cash flows, future charge-off rates and discount rates (which consider current interest rates and are adjusted for credit risk, among other factors).

The carrying value of the unsecured credit facilities approximates fair value as of March 31, 2022, 2021 and December 31, 2021. The fair value of the unsecured credit facilities is estimated based on market values for debt issuances with similar characteristics or rates currently available for debt with similar terms. In addition, the unsecured credit facilities have a variable interest rate based on a fixed spread over LIBOR or the Mexican Central Bank’s interbank equilibrium rate (“TIIE”) and reprice with any changes in LIBOR or TIIE. The fair value of the senior unsecured notes is estimated based on quoted prices in markets that are not active.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Finance Receivables, Net

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Finance Receivables, Net

Finance receivables, net consist of the following (in thousands):


	As of March 31,				As of December 31,
	2022		2021		2021
Finance receivables, gross	$	191,845	$	—	$	220,329
Fair value premium on non-PCD finance receivables (1)	22,981		—		40,251
Non-credit discount on PCD finance receivables (2)	—		—		(3,521)
Merchant partner discounts and premiums, net	(430)		—		(104)
Unearned origination fees	(1,583)		—		(360)
Finance receivables, amortized cost	212,813		—		256,595
Less allowance for loan losses	(72,332)		—		(75,574)
Finance receivables, net	$	140,481	$	—	$	181,021

(1)Represents the difference between the initial fair value and the unpaid principal balance as of the date of the AFF Acquisition, which is recognized through interest income on an effective yield basis over the lives of the related non-purchased credit deteriorated (“PCD”) finance receivables.

(2)Represents the difference between the unpaid principal balance and the amortized cost basis as of the date of the AFF Acquisition, which is recognized through interest income on an effective yield basis over the lives of the related PCD finance receivables.

Changes in the allowance for loan losses were as follows (in thousands):


	Three Months Ended
	March 31,
	2022		2021
Balance at beginning of period	$	75,574	$	—
Provision for loan losses	24,697		—

Charge-offs	(29,408)		—
Recoveries	1,469		—
Balance at end of period	$	72,332	$	—

The following is an assessment of the credit quality indicators of the amortized cost of finance receivables as of March 31, 2022, by origination year:


	2022		2021		2020		Total
FICO score category (1):
No FICO score identified or obtained	$	14,928	$	35,390	$	1,044	$	51,362
599 or less	19,589		43,693		5,389		68,671
Between 600 and 699	19,910		36,548		4,958		61,416
700 or greater	3,320		4,382		681		8,383
Finance receivables before fair value adjustments	$	57,747	$	120,013	$	12,072	189,832
Fair value premium on non-PCD finance receivables							22,981
Finance receivables, amortized cost							$	212,813

(1)FICO score as determined at the time of origination.

The following is an aging of the amortized cost of finance receivables as of March 31, 2022, by origination year:


	2022		2021		2020		Total
Delinquency:
1 to 30 days past due	$	3,083	$	11,180	$	1,132	$	15,395
31 to 60 days past due	1,048		6,917		556		8,521
61 to 90 days past due (1)	405		8,078		647		9,130
Total past due finance receivables before fair value adjustments	4,536		26,175		2,335		33,046
Current finance receivables before fair value adjustments	53,211		93,838		9,737		156,786
Finance receivables before fair value adjustments	$	57,747	$	120,013	$	12,072	189,832
Fair value premium on non-PCD finance receivables							22,981
Finance receivables, amortized cost							$	212,813

(1)The Company charges off finance receivables when a receivable is 90 days or more contractually past due

Leased Merchandise, Net

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Leased Merchandise, Net

Leased merchandise, net consists of the following (in thousands):


	As of March 31,				As of December 31,
	2022		2021		2021
Leased merchandise (1)	$	193,023	$	—	$	156,280
Processing fees	(2,019)		—		(440)
Merchant partner discounts and premiums, net	1,192		—		310
Accumulated depreciation	(32,685)		—		(6,764)
Leased merchandise, before allowance for lease losses	159,511		—		149,386
Allowance for lease losses	(40,364)		—		(5,442)
Leased merchandise, net	$	119,147	$	—	$	143,944

(1)Acquired leased merchandise in the AFF Acquisition was recorded at fair value.

Changes in the allowance for lease losses were as follows (in thousands):


	Three Months Ended
	March 31,
	2022		2021
Balance at beginning of year	$	5,442	$	—
Provision for lease losses	39,820		—
Charge-offs	(6,020)		—
Recoveries	1,122		—
Balance at end of year	$	40,364	$	—

Long-Term Debt

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Long-term Debt

Long-Term Debt

The following table details the Company’s long-term debt at the respective principal amounts, net of unamortized debt issuance costs on the senior unsecured notes (in thousands):


	As of March 31,				As of December 31,
	2022		2021		2021

Revolving unsecured credit facility, maturing 2024 (1)	$	218,000	$	44,000	$	259,000

Senior unsecured notes:
4.625% senior unsecured notes due 2028 (2)	492,739		493,108		492,499
5.625% senior unsecured notes due 2030 (3)	541,616		—		541,405
Total senior unsecured notes	1,034,355		493,108		1,033,904

Total long-term debt	$	1,252,355	$	537,108	$	1,292,904

(1)Debt issuance costs related to the Company’s revolving unsecured credit facilities are included in other assets in the accompanying consolidated balance sheets.

(2)As of March 31, 2022, 2021 and December 31, 2021, deferred debt issuance costs of $7.3 million, $6.9 million and $7.5 million, respectively, are included as a direct deduction from the carrying amount of the senior unsecured notes due 2028 in the accompanying consolidated balance sheets.

(3)As of March 31, 2022 and December 31, 2021, deferred debt issuance costs of $8.4 million and $8.6 million, respectively, are included as a direct deduction from the carrying amount of the senior unsecured notes due 2030 in the accompanying consolidated balance sheets.

Revolving Unsecured Credit Facility

As of March 31, 2022, the Company maintained an unsecured line of credit with a group of U.S.-based commercial lenders (the “Credit Facility”) in the amount of $500.0 million. The Credit Facility matures on December 19, 2024. As of March 31, 2022, the Company had $218.0 million in outstanding borrowings and $3.2 million in outstanding letters of credit under the Credit Facility, leaving $278.8 million available for future borrowings, subject to certain financial covenants. The Credit Facility is unsecured and bears interest, at the Company’s option, of either (1) the prevailing LIBOR (with interest periods of 1, 2, 3 or 6 months at the Company’s option) plus a fixed spread of 2.5% or (2) the prevailing prime or base rate plus a fixed spread of 1.5%. The agreement has a LIBOR floor of 0%. Additionally, the Company is required to pay an annual commitment fee of 0.325% on the average daily unused portion of the Credit Facility commitment. The weighted-average interest rate on amounts outstanding under the Credit Facility at March 31, 2022 was 2.82% based on 1-month LIBOR. Under the terms of the Credit Facility, the Company is required to maintain certain financial ratios and comply with certain financial covenants. The Credit Facility also contains customary restrictions on the Company’s ability to incur additional debt, grant liens, make investments, consummate acquisitions and similar negative covenants with customary carve-outs and baskets. The Company was in compliance with the covenants of the Credit Facility as of March 31, 2022. During the three months ended March 31, 2022, the Company made net payments of $41.0 million pursuant to the Credit Facility.

Revolving Unsecured Uncommitted Credit Facility

As of March 31, 2022, the Company’s primary subsidiary in Mexico, First Cash S.A. de C.V., maintained an unsecured and uncommitted line of credit guaranteed by FirstCash, Inc. with a bank in Mexico (the “Mexico Credit Facility”) in the amount of $600.0 million Mexican pesos. The Mexico Credit Facility bears interest at TIIE plus a fixed spread of 2.5% and matures on March 9, 2023. Under the terms of the Mexico Credit Facility, the Company is required to maintain certain financial ratios and comply with certain financial covenants. The Company was in compliance with the covenants of the Mexico Credit Facility as of March 31, 2022. At March 31, 2022, the Company had no amount outstanding under the Mexico Credit Facility and $600.0 million Mexican pesos available for borrowings.

Senior Unsecured Notes Due 2028

On August 26, 2020, the Company issued $500.0 million of 4.625% senior unsecured notes due on September 1, 2028 (the “2028 Notes”), all of which are currently outstanding. Interest on the 2028 Notes is payable semi-annually in arrears on March 1 and September 1. The 2028 Notes are fully and unconditionally guaranteed on a senior unsecured basis jointly and severally by all of the Company's existing and future domestic subsidiaries that guarantee its Credit Facility. The 2028 Notes will permit the Company to make restricted payments, such as purchasing shares of its stock and paying cash dividends, in an unlimited amount if, after giving pro forma effect to the incurrence of any indebtedness to make such payment, the Company's consolidated total debt ratio is less than 2.75 to 1. The consolidated total debt ratio is defined generally in the indenture governing the 2028 Notes as the ratio of (1) the total consolidated debt of the Company minus cash and cash equivalents of the Company to (2) the Company’s consolidated trailing twelve months EBITDA, as adjusted to exclude certain non-recurring expenses and giving pro forma effect to operations acquired during the measurement period. As of March 31, 2022, the Company’s consolidated total debt ratio was 2.72 to 1. While the 2028 Notes generally limit the Company’s ability to make restricted payments if the consolidated total debt ratio is greater than 2.75 to 1, restricted payments are allowable within certain permitted baskets, which currently provide the Company with continued flexibility to make restricted payments when the Company’s consolidated total debt ratio is greater than 2.75 to 1.

Senior Unsecured Notes Due 2030

On December 13, 2021, the Company issued $550.0 million of 5.625% senior unsecured notes due on January 1, 2030 (the “2030 Notes”), all of which are currently outstanding. Interest on the 2030 Notes is payable semi-annually in arrears on January 1 and July 1. The 2030 Notes are fully and unconditionally guaranteed on a senior unsecured basis jointly and severally by all of the Company's existing and future domestic subsidiaries that guarantee its Credit Facility. The 2030 Notes will permit the Company to make restricted payments, such as purchasing shares of its stock and paying cash dividends, in an unlimited amount if, after giving pro forma effect to the incurrence of any indebtedness to make such payment, the Company's consolidated total debt ratio is less than 3.0 to 1. The consolidated total debt ratio is defined generally in the indenture governing the 2030 Notes as the ratio of (1) the total consolidated debt of the Company minus cash and cash equivalents of the Company to (2) the Company’s consolidated trailing twelve months EBITDA, as adjusted to exclude certain non-recurring expenses and giving pro forma effect to operations acquired during the measurement period. As of March 31, 2022, the Company’s consolidated total debt ratio was 2.72 to 1. While the 2030 Notes generally limit the Company’s ability to make restricted payments if the consolidated total debt ratio is greater than 3.0 to 1, restricted payments are allowable within certain permitted baskets, which currently provides the Company with continued flexibility to make restricted payments when the Company’s consolidated total debt ratio is greater than 3.0 to 1.

The Company utilized the net proceeds from the offering of the 2030 Notes to finance the cash consideration and transaction expenses for the AFF Acquisition, including the repayment, in full, of the outstanding debt under AFF’s credit facility at the closing of the AFF Acquisition, pay fees and expenses related to the note offering and reduce the outstanding balance on the Credit Facility.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company, in the ordinary course of business, is a defendant (actual or threatened) in certain lawsuits, arbitration proceedings and other general claims. Although no assurances can be given, in management’s opinion, any potential adverse result should not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. On January 14, 2022, plaintiff Genesee County Employees’ Retirement System filed a putative shareholder securities class action lawsuit (the “Litigation”) in the United States District Court for the Northern District of Texas against the Company and certain of its current officers styled Genesee County Employees’ Retirement System v. FirstCash Holdings, Inc., et al., Civil Action No. 4:22-CV-00033-P (N.D. Tex.). The complaint alleges that the defendants made materially false and/or misleading statements that caused losses to investors. The complaint further alleges that the defendants failed to disclose in public statements that the Company engaged in widespread and systemic violations of the Military Lending Act (“MLA”). The Litigation does not quantify any alleged damages, but, in addition to attorneys’ fees and costs, it seeks to recover damages on behalf of the plaintiff and other persons who purchased or otherwise acquired Company stock during the putative class period from February 1, 2018 through November 12, 2021 at allegedly inflated prices and purportedly suffered financial harm as a result. The Company disputes these allegations and intends to defend the Litigation vigorously. On April 4, 2022, following the appointment of a lead plaintiff, the Court entered an order setting certain case deadlines for the filing of an amended complaint and any responsive pleading thereto. At this stage, the Company is unable to determine whether a future loss will be incurred due to this Litigation, or estimate a range of loss, if any, and accordingly, no amounts have been accrued in the Company’s financial statements. On November 12, 2021, the Consumer Financial Protection Bureau (“CFPB”) initiated a civil action in the United States District Court for the Northern District of Texas against FirstCash, Inc. and Cash America West, Inc., two of the Company’s subsidiaries, alleging violations of the MLA in connection with pawn transactions. The CFPB also alleges that these same alleged violations of the MLA also constitute breaches of a 2013 CFPB consent order entered into by its predecessor company that, among other things, allegedly required the company and its successors to cease and desist from further MLA violations. The CFPB is seeking an injunction, redress for affected borrowers and a civil monetary penalty. While the Company intends to vigorously defend itself against the allegations in the case, the Company cannot predict or determine the timing or final outcome of this matter or the effect that any adverse determinations the lawsuit may have on the Company. On November 7, 2018, plaintiffs Maria Andrade and Shaun Caulkins filed a complaint (the “Andrade Complaint”) in the United States District Court for the Northern District of California against AFF. In the Andrade Complaint, the plaintiffs allege that AFF partnered with California merchants to deceive California customers into taking out usurious loans made from AFF, an unlicensed lender. Based on these allegations, the plaintiffs assert claims on behalf of themselves and a class of all California residents who purchased consumer goods or services from AFF’s partner retail businesses. Plaintiffs seek, among other things, class certification, a declaration that AFF’s security agreements are void and uncollectible, restitution of all amounts collected from class members, actual damages, statutory damages, and attorneys’ fees. Plaintiff Caulkins’ claims were dismissed in October 2020 and co-defendants were dismissed from the complaint in August 2021. The class certification motion hearing is set for August 15, 2022. At this time, the Company cannot predict or determine the timing or final outcome of the Andrade Complaint or the effect that any adverse determinations the lawsuit may have on the Company. On October 20, 2021, plaintiff Larry Facio filed a complaint (the “Facio Complaint”) in the United States District Court for the Northern District of California against AFF. In the Facio Complaint, the plaintiff alleges that AFF partnered with California merchants to deceive California customers into taking out usurious loans made from AFF, an unlicensed lender. Plaintiff seeks, among other things, class certification, a declaration that AFF’s security agreements are subject to the California Finance Lenders Law and that no person has a right to collect or receive principal or payments, restitution for all amounts collected from class members, actual damages, statutory damages and attorneys’ fees. The case has been stayed pending resolution of the Andrade Complaint and pending the court’s ruling on AFF’s motion to compel arbitration. Accordingly, the Company cannot predict or determine the timing or final outcome of the Facio Complaint or the effect that any adverse determinations the lawsuit may have on the Company.

Segment Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

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, (gain) loss on foreign exchange, merger and acquisition expenses, loss on revaluation of contingent acquisition consideration, and impairment and dispositions of certain other assets, 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.

The following tables present reportable segment information for the three-month periods ended March 31, 2022 and 2021 (in thousands):


	Three Months Ended March 31, 2022
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate		Consolidated
Revenue:
Retail merchandise sales	$	204,942	$	97,877	$	—	$	—	$	302,819
Pawn loan fees	90,339		41,480		—		—		131,819
Leased merchandise income	—		—		149,947		—		149,947
Interest and fees on finance receivables	—		—		42,449		—		42,449
Wholesale scrap jewelry sales	16,524		16,281		—		—		32,805
Total revenue	311,805		155,638		192,396		—		659,839

Cost of revenue:
Cost of retail merchandise sold	119,718		62,496		—		—		182,214
Depreciation of leased merchandise	—		—		93,706		—		93,706
Provision for lease losses	—		—		39,820		—		39,820
Provision for loan losses	—		—		24,697		—		24,697
Cost of wholesale scrap jewelry sold	14,530		13,685		—		—		28,215
Total cost of revenue	134,248		76,181		158,223		—		368,652

Net revenue	177,557		79,457		34,173		—		291,187

Expenses and other income:
Operating expenses	98,822		45,542		28,932		—		173,296
Administrative expenses	—		—		—		36,863		36,863
Depreciation and amortization	5,587		4,401		682		14,872		25,542
Interest expense	—		—		—		16,221		16,221
Interest income	—		—		—		(676)		(676)
Gain on foreign exchange	—		—		—		(480)		(480)
Merger and acquisition expenses	—		—		—		665		665
Loss on revaluation of contingent acquisition consideration	—		—		—		2,570		2,570
Impairments and dispositions of certain other assets	—		—		—		177		177

Total expenses and other income	104,409		49,943		29,614		70,212		254,178

Income (loss) before income taxes	$	73,148	$	29,514	$	4,559	$	(70,212)	$	37,009


	Three Months Ended March 31, 2021
	U.S. Pawn		Latin America Pawn		Corporate		Consolidated
Revenue:
Retail merchandise sales	$	189,957	$	82,085	$	—	$	272,042
Pawn loan fees	76,397		39,125		—		115,522


Wholesale scrap jewelry sales	9,203		11,172		—		20,375
Total revenue	275,557		132,382		—		407,939

Cost of revenue:
Cost of retail merchandise sold	106,530		50,623		—		157,153



Cost of wholesale scrap jewelry sold	7,513		9,684		—		17,197
Total cost of revenue	114,043		60,307		—		174,350

Net revenue	161,514		72,075		—		233,589

Expenses and other income:
Operating expenses	95,247		42,077		—		137,324
Administrative expenses	—		—		30,999		30,999
Depreciation and amortization	5,382		4,263		967		10,612
Interest expense	—		—		7,230		7,230
Interest income	—		—		(158)		(158)
Loss on foreign exchange	—		—		267		267
Merger and acquisition expenses	—		—		166		166

Impairments and dispositions of certain other assets	—		—		878		878

Total expenses and other income	100,629		46,340		40,349		187,318

Income (loss) before income taxes	$	60,885	$	25,735	$	(40,349)	$	46,271

- 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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

General (Policies)	3 Months Ended
General (Policies)	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	The accompanying consolidated balance sheet as of December 31, 2021, which is derived from audited consolidated financial statements, and the unaudited consolidated financial statements, including the notes thereto, includes the accounts of FirstCash Holdings, Inc. and its wholly-owned subsidiaries (together, the “Company”). The Company regularly makes acquisitions, and the results of operations for the acquired stores have been consolidated since the acquisition dates. All significant intercompany accounts and transactions have been eliminated. These unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include certain information and disclosures required for comprehensive financial statements. These interim period financial statements should be read in conjunction with the Company’s audited consolidated financial statements, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2022. The consolidated financial statements as of March 31, 2022 and 2021, and for the three month periods ended March 31, 2022 and 2021, are unaudited, but in management’s opinion include all adjustments (consisting of only normal recurring adjustments) considered necessary to present fairly the financial position, results of operations and cash flow for such interim periods. Operating results for the period ended March 31, 2022 are not necessarily indicative of the results that may be expected for the full year. On December 17, 2021, the Company completed the acquisition (the “AFF Acquisition”) of American First Finance (“AFF”), which is a leading technology-driven retail point-of-sale (“POS”) payment solutions platform primarily focused on providing lease-to-own (“LTO”) products. The Company has operations in Latin America, where in Mexico, Guatemala and Colombia, the functional currency is the Mexican peso, Guatemalan quetzal and Colombian peso. Accordingly, the assets and liabilities of these subsidiaries are translated into U.S. dollars at the exchange rate in effect at each balance sheet date, and the resulting adjustments are accumulated in other comprehensive income (loss) as a separate component of stockholders’ equity. Revenues and expenses are translated at the average exchange rates occurring during the respective period. The Company also has operations in El Salvador where the reporting and functional currency is the U.S. dollar.
Use of Estimates	The preparation of interim financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and related revenue and expenses, and the disclosure of gain and loss contingencies at the date of the financial statements. Such estimates and assumptions are subject to a number of risks and uncertainties, which may cause actual results to differ materially from the Company’s estimates.
Reclassification	Certain amounts in the consolidated balance sheets as of March 31, 2021 and December 31, 2021 and the consolidated statements of income and consolidated statements of cash flows for the three months ended March 31, 2021 have been reclassified in order to conform to the 2022 presentation.
Recent Accounting Pronouncements	In March 2020, the Financial Accounting Standards Board issued ASU No 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”). ASU 2020-04 provides temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank-offered rates to alternative reference rates. ASU 2020-04 was effective beginning on March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company does not expect ASU 2020-04 to have a material effect on the Company’s current financial position, results of operations or financial statement disclosures.In March 2022, the Financial Accounting Standards Board issued ASU No 2022-02, “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” (“ASU 2022-02”). ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings by creditors while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors made to borrowers experiencing financial difficulty. In addition, the amendments require disclosure of current period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. ASU 2022-02 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years for entities. Early adoption is permitted if an entity has adopted the CECL accounting standard. Except for expanded disclosures to its vintage disclosures, the Company does not expect ASU 2022-02 to have a material effect on the Company’s current financial position, results of operations or financial statements
Fair Value Measurement	The fair value of financial instruments is determined by reference to various market data and other valuation techniques, as appropriate. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The three fair value levels are (from highest to lowest): Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data.

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):


	Three Months Ended
	March 31,
	2022		2021
Numerator:
Net income	$	28,005	$	33,715



Denominator:
Weighted-average common shares for calculating basic earnings per share	48,241		41,034
Effect of dilutive securities:
Stock options and restricted stock unit awards	59		22
Weighted-average common shares for calculating diluted earnings per share	48,300		41,056

Earnings per share:
Basic	$	0.58	$	0.82
Diluted	$	0.58	$	0.82

Operating Leases (Tables)

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Schedule of Lease Expense and Supplemental Cash Flow Information

The following table details the components of lease expense included in operating expenses in the consolidated statements of income during the three months ended March 31, 2022 and 2021 (in thousands):


	Three Months Ended
	March 31,
	2022		2021
Operating lease expense	$	31,528	$	31,065
Variable lease expense (1)	4,174		3,834
Total operating lease expense	$	35,702	$	34,899

(1)Variable lease costs consist primarily of taxes, insurance and common area or other maintenance costs paid based on actual costs incurred by the lessor and can therefore vary over the lease term.

The following table details supplemental cash flow information related to operating leases for the three months ended March 31, 2022 and 2021 (in thousands):


	Three Months Ended
	March 31,
	2022		2021
Cash paid for amounts included in the measurement of operating lease liabilities	$	29,132	$	28,186
Leased assets obtained in exchange for new operating lease liabilities	$	18,946	$	16,778

Schedule of Maturity of Lease Liabilities

The following table details the maturity of lease liabilities for all operating leases as of March 31, 2022 (in thousands):


Nine months ending December 31, 2022	$	81,751
2023	91,376
2024	67,484
2025	41,008
2026	21,792
Thereafter	25,194
Total	$	328,605
Less amount of lease payments representing interest	(37,754)
Total present value of lease payments	$	290,851

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The Company’s financial assets and liabilities as of March 31, 2022 and December 31, 2021 that are measured at fair value on a recurring basis are as follows (in thousands):


	Estimated Fair Value
	March 31,		Fair Value Measurements Using
	2022		Level 1		Level 2		Level 3
Financial liabilities:
Contingent AFF acquisition consideration (1)	$	112,119	$	—	$	—	$	112,119


	Estimated Fair Value
	December 31,		Fair Value Measurements Using
	2021		Level 1		Level 2		Level 3
Financial liabilities:
Contingent AFF acquisition consideration (1)	$	109,549	$	—	$	—	$	109,549

Schedule of Fair Value, Changes in Assets and Liabilities Measured on Recurring Basis Level 3 Fair Value Measurement


	Contingent Consideration
Contingent AFF acquisition consideration as of December 31, 2021	$	109,549
Change in fair value (1)	2,570
Balance at March 31, 2022	$	112,119

Schedule of Fair Value by Balance Sheet Grouping

The Company’s financial assets and liabilities as of March 31, 2022, 2021 and December 31, 2021 that are not measured at fair value in the consolidated balance sheets are as follows (in thousands):


	Carrying Value		Estimated Fair Value
	March 31,		March 31,		Fair Value Measurements Using
	2022		2022		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	113,317	$	113,317	$	113,317	$	—	$	—
Accounts receivable, net	52,017		52,017		—		—		52,017
Pawn loans	344,101		344,101		—		—		344,101
Finance receivables, net	140,481		180,819		—		—		180,819
	$	649,916	$	690,254	$	113,317	$	—	$	576,937

Financial liabilities:
Revolving unsecured credit facilities	$	218,000	$	218,000	$	—	$	218,000	$	—
Senior unsecured notes (outstanding principal)	1,050,000		992,000		—		992,000		—
	$	1,268,000	$	1,210,000	$	—	$	1,210,000	$	—


	Carrying Value		Estimated Fair Value
	March 31,		March 31,		Fair Value Measurements Using
	2021		2021		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	54,641	$	54,641	$	54,641	$	—	$	—
Accounts receivable, net	35,334		35,334		—		—		35,334
Pawn loans	265,438		265,438		—		—		265,438

	$	355,413	$	355,413	$	54,641	$	—	$	300,772

Financial liabilities:
Revolving unsecured credit facilities	$	44,000	$	44,000	$	—	$	44,000	$	—
Senior unsecured notes (outstanding principal)	500,000		506,000		—		506,000		—
	$	544,000	$	550,000	$	—	$	550,000	$	—


	Carrying Value		Estimated Fair Value
	December 31,		December 31,		Fair Value Measurements Using
	2021		2021		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	120,046	$	120,046	$	120,046	$	—	$	—
Accounts receivable, net	55,356		55,356		—		—		55,356
Pawn loans	347,973		347,973		—		—		347,973
Finance receivables, net	181,021		233,000		—		—		233,000
	$	704,396	$	756,375	$	120,046	$	—	$	636,329

Financial liabilities:
Revolving unsecured credit facilities	$	259,000	$	259,000	$	—	$	259,000	$	—
Senior unsecured notes (outstanding principal)	1,050,000		1,058,000		—		1,058,000		—
	$	1,309,000	$	1,317,000	$	—	$	1,317,000	$	—

Finance Receivables, Net (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Schedule of Finance Receivables, Net

Finance receivables, net consist of the following (in thousands):


	As of March 31,				As of December 31,
	2022		2021		2021
Finance receivables, gross	$	191,845	$	—	$	220,329
Fair value premium on non-PCD finance receivables (1)	22,981		—		40,251
Non-credit discount on PCD finance receivables (2)	—		—		(3,521)
Merchant partner discounts and premiums, net	(430)		—		(104)
Unearned origination fees	(1,583)		—		(360)
Finance receivables, amortized cost	212,813		—		256,595
Less allowance for loan losses	(72,332)		—		(75,574)
Finance receivables, net	$	140,481	$	—	$	181,021

Schedule of Allowance for Credit Losses

Changes in the allowance for loan losses were as follows (in thousands):


	Three Months Ended
	March 31,
	2022		2021
Balance at beginning of period	$	75,574	$	—
Provision for loan losses	24,697		—

Charge-offs	(29,408)		—
Recoveries	1,469		—
Balance at end of period	$	72,332	$	—

Schedule of Finance Receivables Credit Quality Indicators

The following is an assessment of the credit quality indicators of the amortized cost of finance receivables as of March 31, 2022, by origination year:


	2022		2021		2020		Total
FICO score category (1):
No FICO score identified or obtained	$	14,928	$	35,390	$	1,044	$	51,362
599 or less	19,589		43,693		5,389		68,671
Between 600 and 699	19,910		36,548		4,958		61,416
700 or greater	3,320		4,382		681		8,383
Finance receivables before fair value adjustments	$	57,747	$	120,013	$	12,072	189,832
Fair value premium on non-PCD finance receivables							22,981
Finance receivables, amortized cost							$	212,813

(1)FICO score as determined at the time of origination

Financing Receivable, Past Due

The following is an aging of the amortized cost of finance receivables as of March 31, 2022, by origination year:


	2022		2021		2020		Total
Delinquency:
1 to 30 days past due	$	3,083	$	11,180	$	1,132	$	15,395
31 to 60 days past due	1,048		6,917		556		8,521
61 to 90 days past due (1)	405		8,078		647		9,130
Total past due finance receivables before fair value adjustments	4,536		26,175		2,335		33,046
Current finance receivables before fair value adjustments	53,211		93,838		9,737		156,786
Finance receivables before fair value adjustments	$	57,747	$	120,013	$	12,072	189,832
Fair value premium on non-PCD finance receivables							22,981
Finance receivables, amortized cost							$	212,813

(1)The Company charges off finance receivables when a receivable is 90 days or more contractually past due.

Leased Merchandise, Net (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Leased Merchandise, Net

Leased merchandise, net consists of the following (in thousands):


	As of March 31,				As of December 31,
	2022		2021		2021
Leased merchandise (1)	$	193,023	$	—	$	156,280
Processing fees	(2,019)		—		(440)
Merchant partner discounts and premiums, net	1,192		—		310
Accumulated depreciation	(32,685)		—		(6,764)
Leased merchandise, before allowance for lease losses	159,511		—		149,386
Allowance for lease losses	(40,364)		—		(5,442)
Leased merchandise, net	$	119,147	$	—	$	143,944

(1)Acquired leased merchandise in the AFF Acquisition was recorded at fair value

Leased Merchandise, Allowance for Credit Loss

Changes in the allowance for lease losses were as follows (in thousands):


	Three Months Ended
	March 31,
	2022		2021
Balance at beginning of year	$	5,442	$	—
Provision for lease losses	39,820		—
Charge-offs	(6,020)		—
Recoveries	1,122		—
Balance at end of year	$	40,364	$	—

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following table details the Company’s long-term debt at the respective principal amounts, net of unamortized debt issuance costs on the senior unsecured notes (in thousands):


	As of March 31,				As of December 31,
	2022		2021		2021

Revolving unsecured credit facility, maturing 2024 (1)	$	218,000	$	44,000	$	259,000

Senior unsecured notes:
4.625% senior unsecured notes due 2028 (2)	492,739		493,108		492,499
5.625% senior unsecured notes due 2030 (3)	541,616		—		541,405
Total senior unsecured notes	1,034,355		493,108		1,033,904

Total long-term debt	$	1,252,355	$	537,108	$	1,292,904

(1)Debt issuance costs related to the Company’s revolving unsecured credit facilities are included in other assets in the accompanying consolidated balance sheets.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

Segment Information (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following tables present reportable segment information for the three-month periods ended March 31, 2022 and 2021 (in thousands):


	Three Months Ended March 31, 2022
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate		Consolidated
Revenue:
Retail merchandise sales	$	204,942	$	97,877	$	—	$	—	$	302,819
Pawn loan fees	90,339		41,480		—		—		131,819
Leased merchandise income	—		—		149,947		—		149,947
Interest and fees on finance receivables	—		—		42,449		—		42,449
Wholesale scrap jewelry sales	16,524		16,281		—		—		32,805
Total revenue	311,805		155,638		192,396		—		659,839

Cost of revenue:
Cost of retail merchandise sold	119,718		62,496		—		—		182,214
Depreciation of leased merchandise	—		—		93,706		—		93,706
Provision for lease losses	—		—		39,820		—		39,820
Provision for loan losses	—		—		24,697		—		24,697
Cost of wholesale scrap jewelry sold	14,530		13,685		—		—		28,215
Total cost of revenue	134,248		76,181		158,223		—		368,652

Net revenue	177,557		79,457		34,173		—		291,187

Expenses and other income:
Operating expenses	98,822		45,542		28,932		—		173,296
Administrative expenses	—		—		—		36,863		36,863
Depreciation and amortization	5,587		4,401		682		14,872		25,542
Interest expense	—		—		—		16,221		16,221
Interest income	—		—		—		(676)		(676)
Gain on foreign exchange	—		—		—		(480)		(480)
Merger and acquisition expenses	—		—		—		665		665
Loss on revaluation of contingent acquisition consideration	—		—		—		2,570		2,570
Impairments and dispositions of certain other assets	—		—		—		177		177

Total expenses and other income	104,409		49,943		29,614		70,212		254,178

Income (loss) before income taxes	$	73,148	$	29,514	$	4,559	$	(70,212)	$	37,009


	Three Months Ended March 31, 2021
	U.S. Pawn		Latin America Pawn		Corporate		Consolidated
Revenue:
Retail merchandise sales	$	189,957	$	82,085	$	—	$	272,042
Pawn loan fees	76,397		39,125		—		115,522


Wholesale scrap jewelry sales	9,203		11,172		—		20,375
Total revenue	275,557		132,382		—		407,939

Cost of revenue:
Cost of retail merchandise sold	106,530		50,623		—		157,153



Cost of wholesale scrap jewelry sold	7,513		9,684		—		17,197
Total cost of revenue	114,043		60,307		—		174,350

Net revenue	161,514		72,075		—		233,589

Expenses and other income:
Operating expenses	95,247		42,077		—		137,324
Administrative expenses	—		—		30,999		30,999
Depreciation and amortization	5,382		4,263		967		10,612
Interest expense	—		—		7,230		7,230
Interest income	—		—		(158)		(158)
Loss on foreign exchange	—		—		267		267
Merger and acquisition expenses	—		—		166		166

Impairments and dispositions of certain other assets	—		—		878		878

Total expenses and other income	100,629		46,340		40,349		187,318

Income (loss) before income taxes	$	60,885	$	25,735	$	(40,349)	$	46,271

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net income	$ 28,005	$ 33,715
Denominator:
Weighted-average common shares for calculating basic earnings per share (shares)	48,241	41,034
Stock options and nonvested stock awards (shares)	59	22
Weighted-average common shares for calculating diluted earnings per share (shares)	48,300	41,056
Earnings per share:
Basic (USD per share)	$ 0.58	$ 0.82
Diluted (USD per share)	$ 0.58	$ 0.82

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Operating Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	4 years 1 month 6 days	4 years 1 month 6 days
Weighted average discount rate (as a percent)	6.10%	6.70%
Foreign currency transaction gain, before tax	$ 0.7
Foreign currency transaction loss, before tax		$ (0.6)
Minimum
Lessee, Lease, Description [Line Items]
General term of leased facilities	3 years
Leased facilities renewal term	3 years
Maximum
Lessee, Lease, Description [Line Items]
General term of leased facilities	5 years
Leased facilities renewal term	5 years

Operating Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease expense	$ 31,528	$ 31,065
Variable lease expense	4,174	3,834
Total operating lease expense	$ 35,702	$ 34,899

Operating Leases - Lease Maturities (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Leases [Abstract]
Nine months ending December 31, 2022	$ 81,751
2023	91,376
2024	67,484
2025	41,008
2026	21,792
Thereafter	25,194
Total	328,605
Less amount of lease payments representing interest	(37,754)
Total present value of lease payments	$ 290,851

Operating Leases - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 29,132	$ 28,186
Leased assets obtained in exchange for new operating lease liabilities	$ 18,946	$ 16,778

Fair Value of Financial Instruments - Financial Assets and Liabilities Not Measured at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairments and dispositions of certain other assets	$ 177	$ 878
Financial liabilities:
Change in fair value	2,570	0
Carrying Value
Financial assets:
Cash and cash equivalents	113,317	54,641	$ 120,046
Accounts receivable, net	52,017	35,334	55,356
Total assets	649,916	355,413	704,396
Financial liabilities:
Total liabilities	1,268,000	544,000	1,309,000
Contingent AFF acquisition consideration	112,119		109,549
Carrying Value \| Revolving unsecured credit facilities
Financial liabilities:
Debt	218,000	44,000	259,000
Carrying Value \| Senior unsecured notes (outstanding principal)
Financial liabilities:
Debt	1,050,000	500,000	1,050,000
Carrying Value \| Pawn loans
Financial assets:
Loans receivable, fair value disclosure	344,101	265,438	347,973
Carrying Value \| Financing Receivable
Financial assets:
Loans receivable, fair value disclosure	140,481		181,021
Estimated Fair Value
Financial assets:
Cash and cash equivalents	113,317	54,641	120,046
Accounts receivable, net	52,017	35,334	55,356
Total assets	690,254	355,413	756,375
Financial liabilities:
Total liabilities	1,210,000	550,000	1,317,000
Estimated Fair Value \| Revolving unsecured credit facilities
Financial liabilities:
Debt	218,000	44,000	259,000
Estimated Fair Value \| Senior unsecured notes (outstanding principal)
Financial liabilities:
Debt	992,000	506,000	1,058,000
Estimated Fair Value \| Pawn loans
Financial assets:
Loans receivable, fair value disclosure	344,101	265,438	347,973
Estimated Fair Value \| Financing Receivable
Financial assets:
Loans receivable, fair value disclosure	180,819		233,000
Estimated Fair Value \| Level 1
Financial assets:
Cash and cash equivalents	113,317	54,641	120,046
Accounts receivable, net	0	0	0
Total assets	113,317	54,641	120,046
Financial liabilities:
Total liabilities	0	0	0
Contingent AFF acquisition consideration	0		0
Estimated Fair Value \| Level 1 \| Revolving unsecured credit facilities
Financial liabilities:
Debt	0	0	0
Estimated Fair Value \| Level 1 \| Senior unsecured notes (outstanding principal)
Financial liabilities:
Debt	0	0	0
Estimated Fair Value \| Level 1 \| Pawn loans
Financial assets:
Loans receivable, fair value disclosure	0	0	0
Estimated Fair Value \| Level 1 \| Financing Receivable
Financial assets:
Loans receivable, fair value disclosure	0		0
Estimated Fair Value \| Level 2
Financial assets:
Cash and cash equivalents	0	0	0
Accounts receivable, net	0	0	0
Total assets	0	0	0
Financial liabilities:
Total liabilities	1,210,000	550,000	1,317,000
Contingent AFF acquisition consideration	0		0
Estimated Fair Value \| Level 2 \| Revolving unsecured credit facilities
Financial liabilities:
Debt	218,000	44,000	259,000
Estimated Fair Value \| Level 2 \| Senior unsecured notes (outstanding principal)
Financial liabilities:
Debt	992,000	506,000	1,058,000
Estimated Fair Value \| Level 2 \| Pawn loans
Financial assets:
Loans receivable, fair value disclosure	0	0	0
Estimated Fair Value \| Level 2 \| Financing Receivable
Financial assets:
Loans receivable, fair value disclosure	0		0
Estimated Fair Value \| Level 3
Financial assets:
Cash and cash equivalents	0	0	0
Accounts receivable, net	52,017	35,334	55,356
Total assets	576,937	300,772	636,329
Financial liabilities:
Total liabilities	0	0	0
Contingent AFF acquisition consideration	112,119		109,549
Estimated Fair Value \| Level 3 \| Revolving unsecured credit facilities
Financial liabilities:
Debt	0	0	0
Estimated Fair Value \| Level 3 \| Senior unsecured notes (outstanding principal)
Financial liabilities:
Debt	0	0	0
Estimated Fair Value \| Level 3 \| Pawn loans
Financial assets:
Loans receivable, fair value disclosure	344,101	$ 265,438	347,973
Estimated Fair Value \| Level 3 \| Financing Receivable
Financial assets:
Loans receivable, fair value disclosure	$ 180,819		$ 233,000

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Accounts payable	$ 98,200	$ 95,600
Other liabilities	$ 13,950	$ 13,950	$ 0

Finance Receivables, Net (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Finance Receivables, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Finance receivables, gross	$ 191,845	$ 0	$ 220,329
Fair value premium on non-PCD finance receivables	22,981	0	40,251
Non-credit discount on PCD finance receivables	0	0	(3,521)
Merchant partner discounts and premiums, net	(430)	0	(104)
Unearned origination fees	(1,583)	0	(360)
Finance receivables, amortized cost	212,813	0	256,595
Less allowance for loan losses	(72,332)	0	(75,574)	$ 0
Finance receivables, net	$ 140,481	$ 0	$ 181,021

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

- Definition

Amount, before allowance for credit loss, of financing receivable.

+ References + Details

Finance Receivables, Net - Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Receivables [Abstract]
Balance at beginning of period	$ 75,574	$ 0
Provision for loan losses	24,697	0
Charge-offs	(29,408)	0
Recoveries	1,469	0
Balance at end of period	$ 72,332	$ 0

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

Finance Receivables, Net - Credit Quality Indicators of Amortized Cost of Finance Receivables (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Mar. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, excluding accrued interest, year one, originated, current fiscal year	$ 57,747
Financing receivable, excluding accrued interest, year two, originated, fiscal year before current fiscal year		$ 120,013
Financing receivable, excluding accrued interest, year three, originated, two years before current fiscal year				$ 12,072
Finance receivable, before allowance for credit loss, premium and discount	189,832
Fair value premium on non-PCD finance receivables	22,981	0	$ 40,251
Finance receivables, amortized cost	212,813	0	$ 256,595
No FICO score identified or obtained
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, excluding accrued interest, year one, originated, current fiscal year	14,928
Financing receivable, excluding accrued interest, year two, originated, fiscal year before current fiscal year		35,390
Financing receivable, excluding accrued interest, year three, originated, two years before current fiscal year				1,044
Finance receivable, before allowance for credit loss, premium and discount	51,362
599 or less
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, excluding accrued interest, year one, originated, current fiscal year	19,589
Financing receivable, excluding accrued interest, year two, originated, fiscal year before current fiscal year		43,693
Financing receivable, excluding accrued interest, year three, originated, two years before current fiscal year				5,389
Finance receivable, before allowance for credit loss, premium and discount	68,671
Between 600 and 699
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, excluding accrued interest, year one, originated, current fiscal year	19,910
Financing receivable, excluding accrued interest, year two, originated, fiscal year before current fiscal year		36,548
Financing receivable, excluding accrued interest, year three, originated, two years before current fiscal year				4,958
Finance receivable, before allowance for credit loss, premium and discount	61,416
700 or greater
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, excluding accrued interest, year one, originated, current fiscal year	3,320
Financing receivable, excluding accrued interest, year two, originated, fiscal year before current fiscal year		$ 4,382
Financing receivable, excluding accrued interest, year three, originated, two years before current fiscal year				$ 681
Finance receivable, before allowance for credit loss, premium and discount	$ 8,383

Finance Receivables, Net - Aging of Finance Receivable (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Mar. 31, 2020
Financing Receivable, Past Due [Line Items]
Finance receivable, current, before allowance for credit loss premium and discount, year one	$ 53,211
Financing receivable, year one, originated, current fiscal year	57,747
Finance receivable, current, before allowance for credit loss, premium and discount, year two		$ 93,838
Financing receivable, year two, originated, fiscal year before current fiscal year		120,013
Finance receivable, before allowance for credit loss, premium and discount	189,832
Finance receivable, current, before allowance for credit loss, premium and discount, year three				$ 9,737
Fair value premium on non-PCD finance receivables	22,981	0	$ 40,251
Financing receivable, current, before allowance for credit loss, premium and discount	156,786
Financing receivable, year three, originated, two years before current fiscal year				12,072
Finance receivables, amortized cost	212,813	0	$ 256,595
1 to 30 days past due
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	3,083	11,180		1,132
Finance receivable, before allowance for credit loss, premium and discount	15,395
31 to 60 days past due
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	1,048	6,917		556
Finance receivable, before allowance for credit loss, premium and discount	8,521
61 to 90 days past due
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	405	8,078		647
Finance receivable, before allowance for credit loss, premium and discount	9,130
Total past due
Financing Receivable, Past Due [Line Items]
Financing receivable, past due	4,536	$ 26,175		$ 2,335
Finance receivable, before allowance for credit loss, premium and discount	$ 33,046

Leased Merchandise, Net (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Leased Merchandise, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Leased merchandise	$ 193,023	$ 0	$ 156,280
Processing fees	(2,019)	0	(440)
Merchant partner discounts and premiums, net	1,192	0	310
Accumulated depreciation	(32,685)	0	(6,764)
Leased merchandise, before allowance for lease losses	159,511	0	149,386
Allowance for lease losses	40,364	0	5,442	$ 0
Leased merchandise, net	119,147	0	$ 143,944
Provision for lease losses	39,820	0
Charge-offs	(6,020)	0
Recoveries	$ 1,122	$ 0

Long-Term Debt - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 13, 2021	Mar. 31, 2021	Aug. 26, 2020
Debt Instrument [Line Items]
Total long-term debt	$ 1,252,355	$ 1,292,904		$ 537,108
Senior Notes
Debt Instrument [Line Items]
Total long-term debt	1,034,355	1,033,904		493,108
Revolving unsecured credit facility, maturing 2024 \| Line of Credit
Debt Instrument [Line Items]
Total long-term debt	$ 218,000	259,000		44,000
4.625% senior unsecured notes due 2028 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.625%				4.625%
Total long-term debt	$ 492,739	492,499		493,108
Deferred finance costs, net	$ 7,300	7,500		6,900
5.625% Senior Unsecured Notes due 2030 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.625%		5.625%
Total long-term debt	$ 541,616	541,405		$ 0
Deferred finance costs, net	$ 8,400	$ 8,600

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Long-Term Debt - Narrative (Details)	3 Months Ended
Long-Term Debt - Narrative (Details)	Mar. 31, 2022 USD ($)	Mar. 31, 2022 MXN ($)	Dec. 31, 2021 USD ($)	Dec. 13, 2021 USD ($)	Mar. 31, 2021 USD ($)	Aug. 26, 2020 USD ($)
Revolving unsecured credit facility, maturing 2024 \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 500,000,000
Amount outstanding	218,000,000
Letters of credit outstanding	3,200,000
Remaining borrowing capacity	$ 278,800,000
Commitment fee (as a percent)	0.325%
Interest rate at end of period (as a percent)	2.82%	2.82%
Net proceeds	$ (41,000,000)
Revolving unsecured credit facility, maturing 2024 \| Line of Credit \| 30-day LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.50%
Revolving unsecured credit facility, maturing 2024 \| Line of Credit \| 30-day LIBOR \| Minimum
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0.00%	0.00%
Revolving unsecured credit facility, maturing 2024 \| Line of Credit \| Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.50%
Revolving Unsecured Uncommitted Credit Facility due 2023 \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 600,000,000
Amount outstanding		0
Remaining borrowing capacity		$ 600,000,000
Revolving Unsecured Uncommitted Credit Facility due 2023 \| Line of Credit \| Mexican Central Bank Interbank Equilibrium Rate (TIIE)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.50%
4.625% senior unsecured notes due 2028 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.625%	4.625%				4.625%
Face amount						$ 500,000,000
Debt ratio threshold	2.75	2.75
Deferred finance costs, net	$ 7,300,000		$ 7,500,000		$ 6,900,000
5.625% Senior Unsecured Notes due 2030 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.625%	5.625%		5.625%
Face amount				$ 550,000,000
Debt ratio threshold	3.0	3.0
Debt ratio	2.72	2.72
Deferred finance costs, net	$ 8,400,000		$ 8,600,000

Segment Information (Details) $ in Thousands	3 Months Ended
Segment Information (Details) $ in Thousands	Mar. 31, 2022 USD ($) segment	Mar. 31, 2021 USD ($)
Schedule of Revenues from External Customers [Line Items]
Number of reportable segments \| segment	3
Revenue:
Retail merchandise sales	$ 302,819	$ 272,042
Pawn loan fees	131,819	115,522
Wholesale scrap jewelry sales	32,805	20,375
Total revenue	659,839	407,939
Cost of revenue:
Cost of retail merchandise sold	182,214	157,153
Cost of wholesale scrap jewelry sold	28,215	17,197
Total cost of revenue	368,652	174,350
Net revenue	291,187	233,589
Expenses and other income:
Operating expenses	173,296	137,324
Administrative expenses	36,863	30,999
Depreciation and amortization	25,542	10,612
Interest expense	16,221	7,230
Interest income	(676)	(158)
Merger and acquisition expenses	665	166
(Gain) loss on foreign exchange	(480)	267
Impairments and dispositions of certain other assets	177	878
Total expenses and other income	254,178	187,318
Income (loss) before income taxes	37,009	46,271
Leased merchandise income	149,947	0
Interest and fees on finance receivables	42,449	0
Depreciation of leased merchandise	93,706	0
Provision for lease losses	39,820	0
Provision for loan losses	24,697	0
Loss on revaluation of contingent acquisition consideration	2,570	0
UNITED STATES \| Retail POS Payment Solutions
Revenue:
Retail merchandise sales	0
Pawn loan fees	0
Wholesale scrap jewelry sales	0
Total revenue	192,396
Cost of revenue:
Cost of retail merchandise sold	0
Cost of wholesale scrap jewelry sold	0
Total cost of revenue	158,223
Net revenue	34,173
Expenses and other income:
Operating expenses	28,932
Administrative expenses	0
Depreciation and amortization	682
Interest expense	0
Interest income	0
Merger and acquisition expenses	0
(Gain) loss on foreign exchange	0
Impairments and dispositions of certain other assets	0
Total expenses and other income	29,614
Income (loss) before income taxes	4,559
Leased merchandise income	149,947
Interest and fees on finance receivables	42,449
Depreciation of leased merchandise	93,706
Provision for lease losses	39,820
Provision for loan losses	24,697
Loss on revaluation of contingent acquisition consideration	0
UNITED STATES \| Pawn Segment
Revenue:
Retail merchandise sales	204,942	189,957
Pawn loan fees	90,339	76,397
Wholesale scrap jewelry sales	16,524	9,203
Total revenue	311,805	275,557
Cost of revenue:
Cost of retail merchandise sold	119,718	106,530
Cost of wholesale scrap jewelry sold	14,530	7,513
Total cost of revenue	134,248	114,043
Net revenue	177,557	161,514
Expenses and other income:
Operating expenses	98,822	95,247
Administrative expenses	0	0
Depreciation and amortization	5,587	5,382
Interest expense	0	0
Interest income	0	0
Merger and acquisition expenses	0	0
(Gain) loss on foreign exchange	0	0
Impairments and dispositions of certain other assets	0	0
Total expenses and other income	104,409	100,629
Income (loss) before income taxes	73,148	60,885
Leased merchandise income	0
Interest and fees on finance receivables	0
Depreciation of leased merchandise	0
Provision for lease losses	0
Provision for loan losses	0
Loss on revaluation of contingent acquisition consideration	0
Latin America \| Pawn Segment
Revenue:
Retail merchandise sales	97,877	82,085
Pawn loan fees	41,480	39,125
Wholesale scrap jewelry sales	16,281	11,172
Total revenue	155,638	132,382
Cost of revenue:
Cost of retail merchandise sold	62,496	50,623
Cost of wholesale scrap jewelry sold	13,685	9,684
Total cost of revenue	76,181	60,307
Net revenue	79,457	72,075
Expenses and other income:
Operating expenses	45,542	42,077
Administrative expenses	0	0
Depreciation and amortization	4,401	4,263
Interest expense	0	0
Interest income	0	0
Merger and acquisition expenses	0	0
(Gain) loss on foreign exchange	0	0
Impairments and dispositions of certain other assets	0	0
Total expenses and other income	49,943	46,340
Income (loss) before income taxes	29,514	25,735
Leased merchandise income	0
Interest and fees on finance receivables	0
Depreciation of leased merchandise	0
Provision for lease losses	0
Provision for loan losses	0
Loss on revaluation of contingent acquisition consideration	0
Corporate
Revenue:
Retail merchandise sales	0	0
Pawn loan fees	0	0
Wholesale scrap jewelry sales	0	0
Total revenue	0	0
Cost of revenue:
Cost of retail merchandise sold	0	0
Cost of wholesale scrap jewelry sold	0	0
Total cost of revenue	0	0
Net revenue	0	0
Expenses and other income:
Operating expenses	0	0
Administrative expenses	36,863	30,999
Depreciation and amortization	14,872	967
Interest expense	16,221	7,230
Interest income	(676)	(158)
Merger and acquisition expenses	665	166
(Gain) loss on foreign exchange	(480)	267
Impairments and dispositions of certain other assets	177	878
Total expenses and other income	70,212	40,349
Income (loss) before income taxes	(70,212)	$ (40,349)
Leased merchandise income	0
Interest and fees on finance receivables	0
Depreciation of leased merchandise	0
Provision for lease losses	0
Provision for loan losses	0
Loss on revaluation of contingent acquisition consideration	$ 2,570