fcfs-20200930
000084048912/312020Q3FALSEP3YP3Y00008404892020-01-012020-09-30xbrli:shares00008404892020-10-20iso4217:USD00008404892020-09-3000008404892019-09-3000008404892019-12-3100008404892020-07-012020-09-3000008404892019-07-012019-09-3000008404892019-01-012019-09-30iso4217:USDxbrli:shares0000840489us-gaap:CommonStockMember2019-12-310000840489us-gaap:AdditionalPaidInCapitalMember2019-12-310000840489us-gaap:RetainedEarningsMember2019-12-310000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310000840489us-gaap:TreasuryStockMember2019-12-3100008404892020-01-012020-03-310000840489us-gaap:AdditionalPaidInCapitalMember2020-01-012020-03-310000840489us-gaap:TreasuryStockMember2020-01-012020-03-310000840489us-gaap:RetainedEarningsMember2020-01-012020-03-310000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-310000840489us-gaap:CommonStockMember2020-03-310000840489us-gaap:AdditionalPaidInCapitalMember2020-03-310000840489us-gaap:RetainedEarningsMember2020-03-310000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-310000840489us-gaap:TreasuryStockMember2020-03-3100008404892020-03-310000840489us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-3000008404892020-04-012020-06-300000840489us-gaap:RetainedEarningsMember2020-04-012020-06-300000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300000840489us-gaap:CommonStockMember2020-06-300000840489us-gaap:AdditionalPaidInCapitalMember2020-06-300000840489us-gaap:RetainedEarningsMember2020-06-300000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300000840489us-gaap:TreasuryStockMember2020-06-3000008404892020-06-300000840489us-gaap:RetainedEarningsMember2020-07-012020-09-300000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000840489us-gaap:CommonStockMember2020-09-300000840489us-gaap:AdditionalPaidInCapitalMember2020-09-300000840489us-gaap:RetainedEarningsMember2020-09-300000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300000840489us-gaap:TreasuryStockMember2020-09-300000840489us-gaap:CommonStockMember2018-12-310000840489us-gaap:AdditionalPaidInCapitalMember2018-12-310000840489us-gaap:RetainedEarningsMember2018-12-310000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310000840489us-gaap:TreasuryStockMember2018-12-3100008404892018-12-310000840489us-gaap:AdditionalPaidInCapitalMember2019-01-012019-03-310000840489us-gaap:TreasuryStockMember2019-01-012019-03-3100008404892019-01-012019-03-310000840489us-gaap:RetainedEarningsMember2019-01-012019-03-310000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-03-310000840489us-gaap:CommonStockMember2019-03-310000840489us-gaap:AdditionalPaidInCapitalMember2019-03-310000840489us-gaap:RetainedEarningsMember2019-03-310000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-310000840489us-gaap:TreasuryStockMember2019-03-3100008404892019-03-310000840489us-gaap:AdditionalPaidInCapitalMember2019-04-012019-06-300000840489us-gaap:TreasuryStockMember2019-04-012019-06-3000008404892019-04-012019-06-300000840489us-gaap:RetainedEarningsMember2019-04-012019-06-300000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-04-012019-06-300000840489us-gaap:CommonStockMember2019-06-300000840489us-gaap:AdditionalPaidInCapitalMember2019-06-300000840489us-gaap:RetainedEarningsMember2019-06-300000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-300000840489us-gaap:TreasuryStockMember2019-06-3000008404892019-06-300000840489us-gaap:AdditionalPaidInCapitalMember2019-07-012019-09-300000840489us-gaap:RetainedEarningsMember2019-07-012019-09-300000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-07-012019-09-300000840489us-gaap:TreasuryStockMember2019-07-012019-09-300000840489us-gaap:CommonStockMember2019-09-300000840489us-gaap:AdditionalPaidInCapitalMember2019-09-300000840489us-gaap:RetainedEarningsMember2019-09-300000840489us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-09-300000840489us-gaap:TreasuryStockMember2019-09-30fcfs:store0000840489country:MX2020-09-30fcfs:acquisition0000840489country:MX2020-01-012020-09-300000840489srt:MinimumMember2020-09-300000840489srt:MaximumMember2020-09-30xbrli:pure0000840489us-gaap:LineOfCreditMemberfcfs:RevolvingUnsecuredCreditFacilitydue2024Member2020-09-300000840489us-gaap:LineOfCreditMemberfcfs:RevolvingUnsecuredCreditFacilitydue2024Member2019-09-300000840489us-gaap:LineOfCreditMemberfcfs:RevolvingUnsecuredCreditFacilitydue2024Member2019-12-310000840489us-gaap:SeniorNotesMemberfcfs:A5.375SeniorUnsecuredNotesdue2024Member2020-09-300000840489us-gaap:SeniorNotesMemberfcfs:A5.375SeniorUnsecuredNotesdue2024Member2019-09-300000840489us-gaap:SeniorNotesMemberfcfs:A5.375SeniorUnsecuredNotesdue2024Member2019-12-310000840489us-gaap:SeniorNotesMemberfcfs:A4625SeniorUnsecuredNotesDue2028Member2020-09-300000840489us-gaap:SeniorNotesMemberfcfs:A4625SeniorUnsecuredNotesDue2028Member2019-09-300000840489us-gaap:SeniorNotesMemberfcfs:A4625SeniorUnsecuredNotesDue2028Member2019-12-310000840489us-gaap:LineOfCreditMemberus-gaap:LondonInterbankOfferedRateLIBORMemberfcfs:RevolvingUnsecuredCreditFacilitydue2024Member2020-01-012020-09-300000840489us-gaap:LineOfCreditMemberus-gaap:PrimeRateMemberfcfs:RevolvingUnsecuredCreditFacilitydue2024Member2020-01-012020-09-300000840489srt:MinimumMemberus-gaap:LineOfCreditMemberus-gaap:LondonInterbankOfferedRateLIBORMemberfcfs:RevolvingUnsecuredCreditFacilitydue2024Member2020-09-300000840489us-gaap:LineOfCreditMemberfcfs:RevolvingUnsecuredCreditFacilitydue2024Member2020-01-012020-09-30iso4217:MXN0000840489us-gaap:LineOfCreditMemberfcfs:RevolvingUnsecuredUncommittedCreditFacilitydue2023Member2020-09-300000840489fcfs:MexicanCentralBankInterbankEquilibriumRateTIIEMemberus-gaap:LineOfCreditMemberfcfs:RevolvingUnsecuredUncommittedCreditFacilitydue2023Member2020-01-012020-09-300000840489us-gaap:SeniorNotesMemberfcfs:A4625SeniorUnsecuredNotesDue2028Member2020-08-260000840489us-gaap:SeniorNotesMemberfcfs:A5.375SeniorUnsecuredNotesdue2024Member2017-05-3000008404892020-08-260000840489us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300000840489us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300000840489us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300000840489us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2020-09-300000840489us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300000840489fcfs:PawnLoansMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300000840489us-gaap:EstimateOfFairValueFairValueDisclosureMemberfcfs:PawnLoansMember2020-09-300000840489us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberfcfs:PawnLoansMember2020-09-300000840489us-gaap:EstimateOfFairValueFairValueDisclosureMemberfcfs:PawnLoansMemberus-gaap:FairValueInputsLevel2Member2020-09-300000840489us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberfcfs:PawnLoansMember2020-09-300000840489us-gaap:LineOfCreditMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300000840489us-gaap:LineOfCreditMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300000840489us-gaap:LineOfCreditMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300000840489us-gaap:LineOfCreditMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2020-09-300000840489us-gaap:LineOfCreditMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300000840489us-gaap:SeniorNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300000840489us-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300000840489us-gaap:FairValueInputsLevel1Memberus-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300000840489us-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2020-09-300000840489us-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300000840489us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-09-300000840489us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300000840489us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300000840489us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2019-09-300000840489us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300000840489fcfs:PawnLoansMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-09-300000840489us-gaap:EstimateOfFairValueFairValueDisclosureMemberfcfs:PawnLoansMember2019-09-300000840489us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberfcfs:PawnLoansMember2019-09-300000840489us-gaap:EstimateOfFairValueFairValueDisclosureMemberfcfs:PawnLoansMemberus-gaap:FairValueInputsLevel2Member2019-09-300000840489us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberfcfs:PawnLoansMember2019-09-300000840489us-gaap:ConsumerPortfolioSegmentMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-09-300000840489us-gaap:ConsumerPortfolioSegmentMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300000840489us-gaap:FairValueInputsLevel1Memberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300000840489us-gaap:ConsumerPortfolioSegmentMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2019-09-300000840489us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300000840489us-gaap:LineOfCreditMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-09-300000840489us-gaap:LineOfCreditMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300000840489us-gaap:LineOfCreditMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300000840489us-gaap:LineOfCreditMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2019-09-300000840489us-gaap:LineOfCreditMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300000840489us-gaap:SeniorNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-09-300000840489us-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300000840489us-gaap:FairValueInputsLevel1Memberus-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300000840489us-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2019-09-300000840489us-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-09-300000840489us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310000840489us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000840489us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000840489us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2019-12-310000840489us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000840489fcfs:PawnLoansMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310000840489us-gaap:EstimateOfFairValueFairValueDisclosureMemberfcfs:PawnLoansMember2019-12-310000840489us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberfcfs:PawnLoansMember2019-12-310000840489us-gaap:EstimateOfFairValueFairValueDisclosureMemberfcfs:PawnLoansMemberus-gaap:FairValueInputsLevel2Member2019-12-310000840489us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberfcfs:PawnLoansMember2019-12-310000840489us-gaap:ConsumerPortfolioSegmentMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310000840489us-gaap:ConsumerPortfolioSegmentMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000840489us-gaap:FairValueInputsLevel1Memberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000840489us-gaap:ConsumerPortfolioSegmentMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2019-12-310000840489us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000840489us-gaap:LineOfCreditMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310000840489us-gaap:LineOfCreditMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000840489us-gaap:LineOfCreditMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000840489us-gaap:LineOfCreditMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2019-12-310000840489us-gaap:LineOfCreditMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000840489us-gaap:SeniorNotesMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310000840489us-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000840489us-gaap:FairValueInputsLevel1Memberus-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000840489us-gaap:SeniorNotesMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2019-12-310000840489us-gaap:SeniorNotesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-31fcfs:segment0000840489country:US2020-07-012020-09-300000840489srt:LatinAmericaMember2020-07-012020-09-300000840489us-gaap:CorporationMember2020-07-012020-09-300000840489country:US2019-07-012019-09-300000840489srt:LatinAmericaMember2019-07-012019-09-300000840489us-gaap:CorporationMember2019-07-012019-09-300000840489country:US2020-01-012020-09-300000840489srt:LatinAmericaMember2020-01-012020-09-300000840489us-gaap:CorporationMember2020-01-012020-09-300000840489country:US2019-01-012019-09-300000840489srt:LatinAmericaMember2019-01-012019-09-300000840489us-gaap:CorporationMember2019-01-012019-09-30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended September 30, 2020
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to ___________

Commission file number 001-10960
https://cdn.kscope.io/f38553dd52916ba6f96f8718876f15f5-fcfs-20200930_g1.jpg
FIRSTCASH, INC.
(Exact name of registrant as specified in its charter)
Delaware75-2237318
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

1600 West 7th Street, Fort Worth, Texas 76102
(Address of principal executive offices) (Zip code)

(817) 335-1100
(Registrant’s telephone number, including area code)

Not Applicable
(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $.01 per shareFCFSThe Nasdaq Stock Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes   No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).     Yes   No



Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).      Yes   No

As of October 20, 2020, there were 41,440,498 shares of common stock outstanding.





FIRSTCASH, INC.
FORM 10-Q FOR THE QUARTER ENDED SEPTEMBER 30, 2020

INDEX



CAUTIONARY STATEMENT REGARDING RISKS AND UNCERTAINTIES THAT MAY AFFECT FUTURE RESULTS

Forward-Looking Information

This quarterly report contains forward-looking statements about the business, financial condition and prospects of FirstCash, Inc. and its wholly owned subsidiaries (together, the “Company”). Forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, can be identified by the use of forward-looking terminology such as “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends,” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, guidance, expectations and future plans. Forward-looking statements can also be identified by the fact these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties.

While the Company believes the expectations reflected in forward-looking statements are reasonable, there can be no assurances such expectations will prove to be accurate. Security holders are cautioned such forward-looking statements involve risks and uncertainties. Certain factors may cause results to differ materially from those anticipated by the forward-looking statements made in this quarterly report. Such factors may include, without limitation, the risks, uncertainties and regulatory developments (1) related to the COVID-19 pandemic, which include risks and uncertainties related to the current unknown duration and severity of the COVID-19 pandemic, the impact of governmental responses that have been, and may in the future be, imposed in response to the pandemic, including stimulus programs which could adversely impact lending demand and regulations which could adversely affect the Company’s ability to continue to fully operate, potential changes in consumer behavior and shopping patterns which could impact demand for both the Company’s pawn loan and retail products, the deterioration in the economic conditions in the United States and Latin America which potentially could have an impact on discretionary consumer spending, and currency fluctuations, primarily involving the Mexican peso and (2) those discussed and described in the Company’s 2019 annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 3, 2020, including the risks described in Part 1, Item 1A, “Risk Factors” thereof, and other reports filed with the SEC, including the Company’s quarterly report on Form 10-Q filed with the SEC on April 27, 2020. Many of these risks and uncertainties are beyond the ability of the Company to control, nor can the Company predict, in many cases, all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. The forward-looking statements contained in this quarterly report speak only as of the date of this quarterly report, and the Company expressly disclaims any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.




PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS
FIRSTCASH, INC.
CONSOLIDATED BALANCE SHEETS
(unaudited, in thousands)
 September 30,December 31,
 202020192019
ASSETS   
Cash and cash equivalents$78,844 $61,183 $46,527 
Fees and service charges receivable36,423 48,587 46,686 
Pawn loans270,619 385,907 369,527 
Consumer loans, net 895 751 
Inventories168,664 281,921 265,256 
Income taxes receivable7,534 1,944 875 
Prepaid expenses and other current assets10,647 9,275 11,367 
Total current assets572,731 789,712 740,989 
Property and equipment, net341,827 300,087 336,167 
Operating lease right of use asset289,175 288,460 304,549 
Goodwill932,329 936,562 948,643 
Intangible assets, net83,837 86,468 85,875 
Other assets9,087 10,880 11,506 
Deferred tax assets6,509 10,624 11,711 
Total assets$2,235,495 $2,422,793 $2,439,440 
LIABILITIES AND STOCKHOLDERS’ EQUITY   
Accounts payable and accrued liabilities$79,979 $81,999 $72,398 
Customer deposits36,189 41,686 39,736 
Income taxes payable183 713 4,302 
Lease liability, current84,970 83,328 86,466 
Total current liabilities201,321 207,726 202,902 
Revolving unsecured credit facilities40,000 340,000 335,000 
Senior unsecured notes492,775 296,394 296,568 
Deferred tax liabilities69,261 61,240 61,431 
Lease liability, non-current188,212 181,257 193,504 
Total liabilities991,569 1,086,617 1,089,405 
Stockholders’ equity:   
Common stock493 493 493 
Additional paid-in capital1,226,512 1,229,793 1,231,528 
Retained earnings767,683 684,865 727,476 
Accumulated other comprehensive loss(164,877)(113,516)(96,969)
Common stock held in treasury, at cost(585,885)(465,459)(512,493)
Total stockholders’ equity1,243,926 1,336,176 1,350,035 
Total liabilities and stockholders’ equity$2,235,495 $2,422,793 $2,439,440 
The accompanying notes are an integral part of these consolidated financial statements.
1


FIRSTCASH, INC.
CONSOLIDATED STATEMENTS OF INCOME
(unaudited, in thousands, except per share amounts)
 Three Months EndedNine Months Ended
 September 30,September 30,
 2020201920202019
Revenue:    
Retail merchandise sales$234,982 $281,358 $819,011 $844,353 
Pawn loan fees99,570 142,879 343,675 420,994 
Wholesale scrap jewelry sales25,281 25,661 74,437 82,352 
Consumer loan and credit services fees57 2,561 2,003 18,378 
Total revenue359,890 452,459 1,239,126 1,366,077 
Cost of revenue:    
Cost of retail merchandise sold137,230 178,597 493,436 534,218 
Cost of wholesale scrap jewelry sold19,818 22,660 61,022 76,947 
Consumer loan and credit services loss provision104 223 (480)3,829 
Total cost of revenue157,152 201,480 553,978 614,994 
Net revenue202,738 250,979 685,148 751,083 
Expenses and other income:    
Store operating expenses132,061 149,819 426,612 445,018 
Administrative expenses24,354 30,576 85,642 94,426 
Depreciation and amortization10,426 10,674 31,424 31,058 
Interest expense6,561 8,922 21,953 25,840 
Interest income(499)(429)(1,209)(788)
Merger and other acquisition expenses7 805 209 1,510 
(Gain) loss on foreign exchange(432)1,648 1,639 926 
Loss on extinguishment of debt
11,737  11,737  
Write-offs and impairments of certain lease intangibles and other assets
837  6,549  
Total expenses and other income185,052 202,015 584,556 597,990 
Income before income taxes17,686 48,964 100,592 153,093 
Provision for income taxes2,624 14,203 26,739 42,629 
Net income$15,062 $34,761 $73,853 $110,464 
Earnings per share:    
Basic$0.36 $0.81 $1.78 $2.56 
Diluted$0.36 $0.81 $1.77 $2.55 
The accompanying notes are an integral part of these consolidated financial statements.
2


FIRSTCASH, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(unaudited, in thousands)
 Three Months EndedNine Months Ended
 September 30,September 30,
 2020201920202019
Net income$15,062 $34,761 $73,853 $110,464 
Other comprehensive income:    
Currency translation adjustment7,273 (9,584)(67,908)(399)
Comprehensive income$22,335 $25,177 $5,945 $110,065 
 The accompanying notes are an integral part of these consolidated financial statements.

3


FIRSTCASH, INC.
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(unaudited, in thousands, except per share amounts)
Nine Months Ended September 30, 2020
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accum-
ulated
Other
Compre-
hensive
Loss
Common Stock
Held in Treasury
Total
Stock-
holders’
Equity
 SharesAmount   SharesAmount 
As of 12/31/201949,276 $493 $1,231,528 $727,476 $(96,969)6,947 $(512,493)$1,350,035 
Shares issued under share-based com-pensation plan, net of 46 shares net-settled
— — (10,266)— — (93)6,939 (3,327)
Share-based compensation expense
— — 2,851 — — — — 2,851 
Net income— — — 32,918 — — — 32,918 
Cash dividends ($0.27 per share)
— — — (11,268)— — — (11,268)
Currency translation adjustment
— — — — (83,503)— — (83,503)
Purchases of treasury stock
— — — — — 981 (80,331)(80,331)
As of 3/31/2020 49,276 $493 $1,224,113 $749,126 $(180,472)7,835 $(585,885)$1,207,375 
Share-based compensation expense
— — 2,399 — — — — 2,399 
Net income— — — 25,873 — — — 25,873 
Cash dividends ($0.27 per share)
— — — (11,189)— — — (11,189)
Currency translation adjustment
— — — — 8,322 — — 8,322 
As of 6/30/2020 49,276 $493 $1,226,512 $763,810 $(172,150)7,835 $(585,885)$1,232,780 
Net income— — — 15,062 — — — 15,062 
Cash dividends ($0.27 per share)
— — — (11,189)— — — (11,189)
Currency translation adjustment
— — — — 7,273 — — 7,273 
As of 9/30/2020 49,276 $493 $1,226,512 $767,683 $(164,877)7,835 $(585,885)$1,243,926 
The accompanying notes are an integral part of these consolidated financial statements.
4


FIRSTCASH, INC.
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
CONTINUED
(unaudited, in thousands, except per share amounts)
Nine Months Ended September 30, 2019
Common
Stock
Additional
Paid-In
Capital
Retained
Earnings
Accum-
ulated
Other
Compre-
hensive
Loss
Common Stock
Held in Treasury
Total
Stock-
holders’
Equity
 SharesAmount   SharesAmount 
As of 12/31/201849,276 $493 $1,224,608 $606,810 $(113,117)5,673 $(400,690)$1,318,104 
Shares issued under share-based com- pensation plan
— — (1,441)— — (21)1,441  
Share-based compensation expense
— — 2,315 — — — — 2,315 
Net income— — — 42,655 — — — 42,655 
Cash dividends ($0.25 per share)
— — — (10,891)— — — (10,891)
Currency translation adjustment
— — — — 5,423 — — 5,423 
Purchases of treasury stock
— — — — — 343 (29,190)(29,190)
As of 3/31/2019 49,276 $493 $1,225,482 $638,574 $(107,694)5,995 $(428,439)$1,328,416 
Exercise of stock options
— — (319)— — (10)719 400 
Share-based compensation expense
— — 2,315 — — — — 2,315 
Net income— — — 33,048 — — — 33,048 
Cash dividends ($0.25 per share)
— — — (10,777)— — — (10,777)
Currency translation adjustment
— — — — 3,762 — — 3,762 
Purchases of treasury stock
— — — — — 328 (30,222)(30,222)
As of 6/30/2019 49,276 $493 $1,227,478 $660,845 $(103,932)6,313 $(457,942)$1,326,942 
Share-based compensation expense— — 2,315 — — — — 2,315 
Net income— — — 34,761 — — — 34,761 
Cash dividends ($0.25 per share)
— — — (10,741)— — — (10,741)
Currency translation adjustment
— — — — (9,584)— — (9,584)
Purchases of treasury stock
— — — — — 80 (7,517)(7,517)
As of 9/30/2019 49,276 $493 $1,229,793 $684,865 $(113,516)6,393 $(465,459)$1,336,176 
The accompanying notes are an integral part of these consolidated financial statements.
5


FIRSTCASH, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in thousands)
 Nine Months Ended
September 30,
 20202019
Cash flow from operating activities:  
Net income$73,853 $110,464 
Adjustments to reconcile net income to net cash flow provided by operating activities:  
Non-cash portion of consumer loan credit loss provision(829)2,351 
Share-based compensation expense5,250 6,945 
Depreciation and amortization expense31,424 31,058 
Amortization of debt issuance costs1,219 1,429 
Loss on extinguishment of debt11,737  
Non-cash write-offs and impairments of certain lease intangibles and other assets6,549  
Deferred income taxes, net11,401 7,451 
Changes in operating assets and liabilities, net of business combinations:  
Fees and service charges receivable8,291 (2,475)
Inventories purchased directly from customers, wholesalers or manufacturers26,628 (358)
Prepaid expenses and other assets75 576 
Accounts payable, accrued liabilities and other liabilities12,971 7,020 
Income taxes(11,203)(637)
Net cash flow provided by operating activities177,366 163,824 
Cash flow from investing activities:  
Loan receivables, net (1)
145,930 (2,998)
Purchases of furniture, fixtures, equipment and improvements(27,853)(33,104)
Purchases of store real property(20,946)(42,954)
Acquisitions of pawn stores, net of cash acquired(9,340)(41,986)
Net cash flow provided by (used in) investing activities87,791 (121,042)
Cash flow from financing activities:  
Borrowings from unsecured credit facilities221,925 191,000 
Repayments of unsecured credit facilities(520,433)(146,000)
Issuance of senior unsecured notes due 2028500,000  
Redemption of senior unsecured notes due 2024(300,000) 
Redemption premium and other redemption costs on senior unsecured notes due 2024(8,781) 
Debt issuance costs paid(5,285) 
Purchases of treasury stock(80,331)(67,221)
Proceeds from exercise of stock options 400 
Payment of withholding taxes on net share settlements of restricted stock unit awards
(3,327) 
Dividends paid(33,646)(32,409)
Net cash flow used in financing activities(229,878)(54,230)
Effect of exchange rates on cash(2,962)838 
Change in cash and cash equivalents32,317 (10,610)
Cash and cash equivalents at beginning of the period46,527 71,793 
Cash and cash equivalents at end of the period$78,844 $61,183 
(1) Includes the funding of new loans net of cash repayments and recovery of principal through the sale of inventories acquired from forfeiture of pawn collateral.
The accompanying notes are an integral part of these consolidated financial statements.
6


FIRSTCASH, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

Note 1 - General

Basis of Presentation

The accompanying consolidated balance sheet as of December 31, 2019, which is derived from audited financial statements, and the unaudited consolidated financial statements, including the notes thereto, include the accounts of FirstCash, 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 consolidated financial statements, which are included in the Company’s annual report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission (the “SEC”) on February 3, 2020. The consolidated financial statements as of September 30, 2020 and 2019, and for the three month and nine month periods ended September 30, 2020 and 2019, 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 periods ended September 30, 2020 are not necessarily indicative of the results that may be expected for the full year.

The Company has significant operations in Latin America, where in Mexico, Guatemala and Colombia, the functional currency is the Mexican peso, Guatemalan quetzal and Colombian peso, respectively. 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.

Impact of COVID-19

In December 2019, a novel strain of coronavirus (“COVID-19”) surfaced in China and rapidly spread throughout the world. In March of 2020, the World Health Organization declared the outbreak a pandemic. Beginning at the end of the first quarter of 2020 and during the second quarter of 2020, many countries, states and other local government officials reacted by instituting quarantines, shelter-in-place and other orders mandating non-essential business closures, travel restrictions and other measures in an effort to reduce the spread of COVID-19 in addition to instituting broad-based stimulus, relief and forbearance programs in an effort to mitigate the economic impact of the pandemic.

The broad shutdowns in response to COVID-19 caused significantly reduced levels of personal spending by consumers in the U.S. and Latin America. This resulted in a significant decline in pawn lending activities, including increased redemptions of existing loans and decreased originations of new loans. Further impacting pawn loan demand during the second quarter were federal stimulus payments, forbearance programs and enhanced unemployment benefits in the U.S. and increased cross-border remittance payments from the U.S. to many Latin American countries. Beginning in approximately May and continuing through September 30, 2020, pawn loan originations began to recover, although pawn loan balances as of September 30, 2020 were still significantly lower than balances in the prior year. Resulting pawn loan fees and inventory levels were negatively impacted during the second and third quarters as a result of the lower pawn loan balances.

As most of the Company’s pawn stores were able to remain open as an essential business during the broad lock-downs, retail sales during the second quarter benefited from strong demand for stay-at-home products, such as consumer electronics, tools and sporting goods and were further enhanced by federal stimulus payments in the U.S., which drove additional demand across most product categories, including jewelry. These positive impacts on second quarter retail sales in Latin America were largely offset by a three-week regulatory prohibition of retail transactions in Mexico the last three weeks of May and closures of stores in El Salvador and Colombia during much of the second quarter. The strong retail demand experienced in the U.S. in the second quarter continued through much of the third quarter, although lower inventory balances also negatively impacted retail sales. Latin America’s sales were further impacted by a slower economic recovery compared to the U.S. As a result of the increased
7


retail sales, especially in the second quarter, and less forfeited inventory from lower pawn receivable balances, inventory balances as of September 30, 2020 were significantly lower than balances in the prior year.

In addition, the economic global uncertainty resulting from COVID-19 has resulted in increased currency volatility that has resulted in adverse currency rate fluctuations, especially with respect to the Mexican peso.

The extent to which COVID-19 impacts the Company’s operations, results of operations, liquidity and financial condition will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration and severity of the outbreak, and the actions taken to contain its impact, as well as further actions, such as additional stimulus programs, taken to limit the resulting economic impact, among others.

Use of Estimates