0000840489-21-000052 | 10-Q | XBRL Viewer

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2021	Apr. 20, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-10960
Entity Registrant Name	FIRSTCASH, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2237318
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		41,027,426
Entity Central Index Key	0000840489
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
ASSETS
Cash and cash equivalents	$ 54,641	$ 65,850	$ 75,464
Fees and service charges receivable	35,334	41,110	40,121
Pawn loans	265,438	308,231	314,296
Inventories	185,336	190,352	227,876
Income taxes receivable	8,236	9,634	4,279
Prepaid expenses and other current assets	8,629	9,388	10,736
Total current assets	557,614	624,565	672,772
Property and equipment, net	384,617	373,667	329,066
Operating lease right of use asset	287,418	298,957	280,840
Goodwill	974,051	977,381	927,290
Intangible assets, net	83,229	83,651	84,999
Other assets	9,365	9,818	9,188
Deferred tax assets	3,869	4,158	8,718
Total assets	2,300,163	2,372,197	2,312,873
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued liabilities	79,575	81,917	74,805
Customer deposits	38,727	34,719	39,728
Income taxes payable	7,139	1,148	9,832
Lease liability, current	86,529	88,622	82,355
Total current liabilities	211,970	206,406	206,720
Revolving unsecured credit facilities	44,000	123,000	355,519
Senior unsecured notes	493,108	492,916	296,744
Deferred tax liabilities	73,020	71,173	64,728
Lease liability, non-current	186,972	194,887	181,787
Total liabilities	1,009,070	1,088,382	1,105,498
Stockholders’ equity:
Common stock	493	493	493
Additional paid-in capital	1,218,323	1,221,788	1,224,113
Retained earnings	811,921	789,303	749,126
Accumulated other comprehensive loss	(130,767)	(118,432)	(180,472)
Common stock held in treasury, at cost	(608,877)	(609,337)	(585,885)
Total stockholders’ equity	1,291,093	1,283,815	1,207,375
Total liabilities and stockholders’ equity	$ 2,300,163	$ 2,372,197	$ 2,312,873

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue:
Retail merchandise sales	$ 272,042	$ 296,629
Pawn loan fees	115,522	142,115
Wholesale scrap jewelry sales	20,375	26,371
Consumer loan and credit services fees	0	1,375
Total revenue	407,939	466,490
Cost of revenue:
Cost of retail merchandise sold	157,153	184,695
Cost of wholesale scrap jewelry sold	17,197	22,847
Consumer loan and credit services fees	0	(361)
Total cost of revenue	174,350	207,181
Net revenue	233,589	259,309
Expenses and other income:
Store operating expenses	137,324	153,500
Administrative expenses	30,999	32,902
Depreciation and amortization	10,612	10,674
Interest expense	7,230	8,418
Interest income	(158)	(185)
Merger and acquisition expenses	166	68
Loss on foreign exchange	267	2,685
Write-off of certain Cash America merger related lease intangibles	878	3,630
Impairment of certain other assets	0	1,900
Total expenses and other income	187,318	213,592
Income (loss) before income taxes	46,271	45,717
Provision for income taxes	12,556	12,799
Net income	$ 33,715	$ 32,918
Earnings per share:
Basic (USD per share)	$ 0.82	$ 0.79
Diluted (USD per share)	$ 0.82	$ 0.78

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 33,715	$ 32,918
Other comprehensive income (loss):
Currency translation adjustment	(12,335)	(83,503)
Comprehensive income (loss)	$ 21,380	$ (50,585)

- Definition

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

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+ 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, 2019		49,276				6,947
Balance at beginning of period at Dec. 31, 2019	$ 1,350,035	$ 493	$ 1,231,528	$ 727,476	$ (96,969)	$ (512,493)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under share-based compensation plan	(3,327)		(10,266)			$ 6,939
Shares issued under share-based compensation plan (shares)						(93)
Share-based compensation expense	2,851		2,851
Net income	32,918			32,918
Cash dividends	11,268			11,268
Currency translation adjustment	(83,503)				(83,503)
Purchases of treasury stock (shares)						981
Purchases of treasury stock	(80,331)					$ (80,331)
Balance at end of period (shares) at Mar. 31, 2020		49,276				7,835
Balance at end of period at Mar. 31, 2020	1,207,375	$ 493	1,224,113	749,126	(180,472)	$ (585,885)
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)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Shares withheld for tax withholding obligation (in shares)	28	46
Dividends (USD per share)	$ 0.27	$ 0.27

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

3 Months Ended

Mar. 31, 2021

Mar. 31, 2020

Cash flow from operating activities:

Net income

$ 33,715

$ 32,918

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

Non-cash portion of consumer loan credit loss provision

(729)

Share-based compensation expense

3,625

2,851

Depreciation and amortization expense

10,612

10,674

Amortization of debt issuance costs

395

387

Write-off of certain Cash America merger related lease intangibles

878

3,630

Impairment of certain other assets

1,900

Deferred income taxes, net

2,010

4,239

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

Fees and service charges receivable

5,394

3,673

Inventories purchased directly from customers, wholesalers or manufacturers

1,442

6,951

Prepaid expenses and other assets

868

355

Accounts payable, accrued liabilities and other liabilities

3,122

9,755

Income taxes

7,113

781

Net cash flow provided by operating activities

69,174

77,385

Cash flow from investing activities:

Loan receivables, net

^[1]

42,394

52,279

Purchases of furniture, fixtures, equipment and improvements

(9,491)

(10,581)

Purchases of store real property

(14,441)

(9,617)

Acquisitions of pawn stores, net of cash acquired

(1,204)

(5,477)

Net cash flow provided by investing activities

17,258

26,604

Cash flow from financing activities:

Borrowings from unsecured credit facilities

45,000

106,925

Repayments of unsecured credit facilities

(124,000)

(88,000)

Debt issuance costs paid

(130)

Purchases of treasury stock

(4,967)

(80,331)

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

(1,663)

Dividends paid

(11,097)

(11,268)

Net cash flow used in financing activities

(96,727)

(72,804)

Effect of exchange rates on cash

(914)

(2,248)

Change in cash and cash equivalents

(11,209)

28,937

Cash and cash equivalents at beginning of the period

65,850

46,527

Cash and cash equivalents at end of the period

$ 54,641

$ 75,464

[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.

General	3 Months Ended
General	Mar. 31, 2021
Accounting Policies [Abstract]
General	General Basis of Presentation The accompanying consolidated balance sheet as of December 31, 2020, 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, 2020, filed with the Securities and Exchange Commission (the “SEC”) on February 1, 2021. The consolidated financial statements as of March 31, 2021 and 2020, and for the three month periods ended March 31, 2021 and 2020, 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, 2021 are not necessarily indicative of the results that may be expected for the full year. 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. Continuing Impact of COVID-19 The onset of COVID-19 in March 2020 in the U.S. and shortly thereafter in Latin America significantly impacted the Company’s operations and earnings results. Most 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. The measures significantly reduced normal levels of consumer spending, and combined with broad-based stimulus programs and enhanced unemployment benefits in the U.S., provided significant and unprecedented liquidity to many of the Company’s customers, which greatly suppressed normal demand for pawn loans which, in turn, reduced volumes of inventory acquired from forfeited pawn loans. The extent to which COVID-19 continues to impact 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 unknown duration and severity of the COVID-19 pandemic, which may be impacted by variants of the COVID-19 virus and the timing, availability and efficacy of the COVID-19 vaccines in the jurisdictions in which the Company operates, and the actions taken to contain the impact of COVID-19, as well as further actions taken to limit the resulting economic impact. In particular, government stimulus and other transfer programs have and may continue to have a material adverse impact on demand for pawn loans in future periods. 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. The extent to which COVID-19 impacts the Company’s operations, results of operations, liquidity and financial condition, including estimates and assumptions used by the Company in the calculation and evaluation of the accrual for earned but uncollected pawn loan fees, impairment of goodwill and other intangible assets and current and deferred tax assets and liabilities, will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the unknown duration and severity of the COVID-19 pandemic and the actions taken to contain its impact, as well as actions taken to limit the resulting economic impact, among others. The Company’s future assessment of the magnitude and duration of the COVID-19 pandemic, as well as other factors, could result in material impacts to the Company’s financial statements in future reporting periods. Reclassification Certain amounts in the consolidated financial statements as of and for the three months ended March 31, 2020 have been reclassified in order to conform to the 2021 presentation. Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board issued ASU No 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). ASU 2019-12 removes certain exceptions to the general principles in Topic 740 in Generally Accepted Accounting Principles. ASU 2019-12 is effective for public entities for fiscal years beginning after December 15, 2020, with early adoption permitted. The adoption of ASU 2019-12 did not have a material effect on the Company’s current financial position, results of operations or financial statement disclosures. 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 is 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.

Earnings Per Share

3 Months Ended

Mar. 31, 2021

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,
	2021		2020
Numerator:
Net income	$	33,715	$	32,918



Denominator:
Weighted-average common shares for calculating basic earnings per share	41,034		41,912
Effect of dilutive securities:
Stock options and restricted stock unit awards	22		95
Weighted-average common shares for calculating diluted earnings per share	41,056		42,007

Earnings per share:
Basic	$	0.82	$	0.79
Diluted	$	0.82	$	0.78

Operating Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Operating Leases

The Company leases the majority of its pawnshop locations under operating leases and determines if an arrangement is or contains a lease at inception. Many leases include both lease and non-lease components, which the Company accounts for 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 as of March 31, 2021 and 2020 was 4.1 years and 3.9 years, respectively.

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, 2021 and 2020 was 6.7% and 7.8%, 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 loss of $0.6 million and $4.4 million during the three months ended March 31, 2021 and 2020, respectively, related to the remeasurement of these U.S. dollar denominated operating leases, which is included in 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 store operating expenses in the consolidated statements of income during the three months ended March 31, 2021 and 2020 (in thousands):


	Three Months Ended
	March 31,
	2021		2020
Operating lease expense	$	31,065	$	31,210
Variable lease expense (1)	3,834		3,545
Total operating lease expense	$	34,899	$	34,755

(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, 2021 (in thousands):


Nine months ending December 31, 2021	$	78,410
2022	84,948
2023	64,926
2024	42,188
2025	18,221
Thereafter	23,966
Total	$	312,659
Less amount of lease payments representing interest	(39,158)
Total present value of lease payments	$	273,501

The following table details supplemental cash flow information related to operating leases for the three months ended March 31, 2021 and 2020 (in thousands):


	Three Months Ended
	March 31,
	2021		2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	28,186	$	28,835
Leased assets obtained in exchange for new operating lease liabilities	$	16,778	$	24,983

Long-Term Debt

3 Months Ended

Mar. 31, 2021

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,
	2021		2020		2020
Revolving unsecured uncommitted credit facility, maturing 2023 (1)	$	—	$	25,519	$	—
Revolving unsecured credit facility, maturing 2024 (1)	44,000		330,000		123,000
5.375% senior unsecured notes due 2024 (2)	—		296,744		—
4.625% senior unsecured notes due 2028 (3)	493,108		—		492,916

Total long-term debt	$	537,108	$	652,263	$	615,916

(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, 2020, deferred debt issuance costs of $3.3 million are included as a direct deduction from the carrying amount of the senior unsecured notes due 2024 in the accompanying consolidated balance sheets.

(3)As of March 31, 2021 and December 31, 2020, deferred debt issuance costs of $6.9 million and $7.1 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.

Revolving Unsecured Credit Facility

As of March 31, 2021, 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, 2021, the Company had $44.0 million in outstanding borrowings and $3.4 million in outstanding letters of credit under the Credit Facility, leaving $452.6 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 week or 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, 2021 was 2.82% based on 1 week 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, 2021. During the three months ended March 31, 2021, the Company made net payments of $79.0 million pursuant to the Credit Facility.

Revolving Unsecured Uncommitted Credit Facility

As of March 31, 2021, 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 the Mexican Central Bank’s interbank equilibrium rate (“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, 2021. At March 31, 2021, 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 “Notes”), all of which are currently outstanding. Interest on the Notes is payable semi-annually in arrears on March 1 and September 1. The 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 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 (“Net Debt Ratio”) is less than 2.75 to 1. The Net Debt Ratio is defined generally in the indenture governing the 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.

The Company utilized the net proceeds from the offering of the Notes to redeem all of the $300.0 million aggregate principal amount of the Company’s 5.375% senior notes due 2024 and to repay a portion of the Company’s Credit Facility.

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2021

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

As of March 31, 2021, 2020 and December 31, 2020, the Company did not have any financial assets or liabilities measured at fair value on a recurring basis.

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. During the three months ended March 31, 2020, the Company recorded a $1.9 million impairment related to a non-financial, non-operating asset that was included in other assets in the consolidated balance sheets.

Financial Assets and Liabilities Not Measured at Fair Value

The Company’s financial assets and liabilities as of March 31, 2021, 2020 and December 31, 2020 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
	2021		2021		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	54,641	$	54,641	$	54,641	$	—	$	—
Fees and service charges receivable	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
	March 31,		March 31,		Fair Value Measurements Using
	2020		2020		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	75,464	$	75,464	$	75,464	$	—	$	—
Fees and service charges receivable	40,121		40,121		—		—		40,121
Pawn loans	314,296		314,296		—		—		314,296

	$	429,881	$	429,881	$	75,464	$	—	$	354,417

Financial liabilities:
Revolving unsecured credit facilities	$	355,519	$	355,519	$	—	$	355,519	$	—
Senior unsecured notes (outstanding principal)	300,000		276,000		—		276,000		—
	$	655,519	$	631,519	$	—	$	631,519	$	—


	Carrying Value		Estimated Fair Value
	December 31,		December 31,		Fair Value Measurements Using
	2020		2020		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	65,850	$	65,850	$	65,850	$	—	$	—
Fees and service charges receivable	41,110		41,110		—		—		41,110
Pawn loans	308,231		308,231		—		—		308,231

	$	415,191	$	415,191	$	65,850	$	—	$	349,341

Financial liabilities:
Revolving unsecured credit facilities	$	123,000	$	123,000	$	—	$	123,000	$	—
Senior unsecured notes (outstanding principal)	500,000		516,000		—		516,000		—
	$	623,000	$	639,000	$	—	$	639,000	$	—

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 fees and service charges receivable approximate fair value.

The carrying value of the unsecured credit facilities approximate fair value as of March 31, 2021, 2020 and December 31, 2020. 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 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

Segment Information

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Information

The Company organizes its operations into two reportable segments as follows:

•U.S. operations

•Latin America operations - includes operations in Mexico, Guatemala, Colombia and El Salvador

Corporate expenses and income, which include administrative expenses, corporate depreciation and amortization, interest expense, interest income, merger and acquisition expenses, loss on foreign exchange, write-offs of certain lease intangibles and impairments of certain other assets, are incurred or earned in both the U.S. and Latin America, but presented on a consolidated basis and are not allocated between the U.S. operations segment and Latin America operations segment.

The following tables present reportable segment information for the three month period ended March 31, 2021 and 2020 (in thousands):


	Three Months Ended March 31, 2021
	U.S. Operations		Latin America Operations		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:
Store 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)
Merger and acquisition expenses	—		—		166		166
Loss on foreign exchange	—		—		267		267

Write-off of certain Cash America merger related lease intangibles	—		—		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


	Three Months Ended March 31, 2020
	U.S. Operations		Latin America Operations		Corporate		Consolidated
Revenue:
Retail merchandise sales	$	195,966	$	100,663	$	—	$	296,629
Pawn loan fees	97,857		44,258		—		142,115
Wholesale scrap jewelry sales	15,478		10,893		—		26,371
Consumer loan and credit services fees (1)	1,375		—		—		1,375
Total revenue	310,676		155,814		—		466,490

Cost of revenue:
Cost of retail merchandise sold	119,529		65,166		—		184,695
Cost of wholesale scrap jewelry sold	14,006		8,841		—		22,847
Consumer loan and credit services loss provision (1)	(361)		—		—		(361)
Total cost of revenue	133,174		74,007		—		207,181

Net revenue	177,502		81,807		—		259,309

Expenses and other income:
Store operating expenses	107,706		45,794		—		153,500
Administrative expenses	—		—		32,902		32,902
Depreciation and amortization	5,401		4,063		1,210		10,674
Interest expense	—		—		8,418		8,418
Interest income	—		—		(185)		(185)
Merger and acquisition expenses	—		—		68		68
Loss on foreign exchange	—		—		2,685		2,685
Write-off of certain Cash America merger related lease intangibles	—		—		3,630		3,630
Impairment of certain other assets	—		—		1,900		1,900

Total expenses and other income	113,107		49,857		50,628		213,592

Income (loss) before income taxes	$	64,395	$	31,950	$	(50,628)	$	45,717

(1)Effective June 30, 2020, the Company no longer offers an unsecured consumer loan product in the U.S.

- 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

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+ Details

General (Policies)	3 Months Ended
General (Policies)	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	The accompanying consolidated balance sheet as of December 31, 2020, 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, 2020, filed with the Securities and Exchange Commission (the “SEC”) on February 1, 2021. The consolidated financial statements as of March 31, 2021 and 2020, and for the three month periods ended March 31, 2021 and 2020, 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, 2021 are not necessarily indicative of the results that may be expected for the full year. 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.
Recent Accounting Pronouncements	In December 2019, the Financial Accounting Standards Board issued ASU No 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). ASU 2019-12 removes certain exceptions to the general principles in Topic 740 in Generally Accepted Accounting Principles. ASU 2019-12 is effective for public entities for fiscal years beginning after December 15, 2020, with early adoption permitted. The adoption of ASU 2019-12 did not have a material effect on the Company’s current financial position, results of operations or financial statement disclosures. 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 is 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.
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, 2021

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,
	2021		2020
Numerator:
Net income	$	33,715	$	32,918



Denominator:
Weighted-average common shares for calculating basic earnings per share	41,034		41,912
Effect of dilutive securities:
Stock options and restricted stock unit awards	22		95
Weighted-average common shares for calculating diluted earnings per share	41,056		42,007

Earnings per share:
Basic	$	0.82	$	0.79
Diluted	$	0.82	$	0.78

Operating Leases (Tables)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Schedule of Lease Expense and Supplemental Cash Flow Information

The following table details the components of lease expense included in store operating expenses in the consolidated statements of income during the three months ended March 31, 2021 and 2020 (in thousands):


	Three Months Ended
	March 31,
	2021		2020
Operating lease expense	$	31,065	$	31,210
Variable lease expense (1)	3,834		3,545
Total operating lease expense	$	34,899	$	34,755

(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, 2021 and 2020 (in thousands):


	Three Months Ended
	March 31,
	2021		2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	28,186	$	28,835
Leased assets obtained in exchange for new operating lease liabilities	$	16,778	$	24,983

Schedule of Maturity of Lease Liabilities

The following table details the maturity of lease liabilities for all operating leases as of March 31, 2021 (in thousands):


Nine months ending December 31, 2021	$	78,410
2022	84,948
2023	64,926
2024	42,188
2025	18,221
Thereafter	23,966
Total	$	312,659
Less amount of lease payments representing interest	(39,158)
Total present value of lease payments	$	273,501

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2021

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,
	2021		2020		2020
Revolving unsecured uncommitted credit facility, maturing 2023 (1)	$	—	$	25,519	$	—
Revolving unsecured credit facility, maturing 2024 (1)	44,000		330,000		123,000
5.375% senior unsecured notes due 2024 (2)	—		296,744		—
4.625% senior unsecured notes due 2028 (3)	493,108		—		492,916

Total long-term debt	$	537,108	$	652,263	$	615,916

(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.

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+ Details

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value by Balance Sheet Grouping

The Company’s financial assets and liabilities as of March 31, 2021, 2020 and December 31, 2020 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
	2021		2021		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	54,641	$	54,641	$	54,641	$	—	$	—
Fees and service charges receivable	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
	March 31,		March 31,		Fair Value Measurements Using
	2020		2020		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	75,464	$	75,464	$	75,464	$	—	$	—
Fees and service charges receivable	40,121		40,121		—		—		40,121
Pawn loans	314,296		314,296		—		—		314,296

	$	429,881	$	429,881	$	75,464	$	—	$	354,417

Financial liabilities:
Revolving unsecured credit facilities	$	355,519	$	355,519	$	—	$	355,519	$	—
Senior unsecured notes (outstanding principal)	300,000		276,000		—		276,000		—
	$	655,519	$	631,519	$	—	$	631,519	$	—


	Carrying Value		Estimated Fair Value
	December 31,		December 31,		Fair Value Measurements Using
	2020		2020		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	65,850	$	65,850	$	65,850	$	—	$	—
Fees and service charges receivable	41,110		41,110		—		—		41,110
Pawn loans	308,231		308,231		—		—		308,231

	$	415,191	$	415,191	$	65,850	$	—	$	349,341

Financial liabilities:
Revolving unsecured credit facilities	$	123,000	$	123,000	$	—	$	123,000	$	—
Senior unsecured notes (outstanding principal)	500,000		516,000		—		516,000		—
	$	623,000	$	639,000	$	—	$	639,000	$	—

Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

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 period ended March 31, 2021 and 2020 (in thousands):


	Three Months Ended March 31, 2021
	U.S. Operations		Latin America Operations		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:
Store 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)
Merger and acquisition expenses	—		—		166		166
Loss on foreign exchange	—		—		267		267

Write-off of certain Cash America merger related lease intangibles	—		—		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


	Three Months Ended March 31, 2020
	U.S. Operations		Latin America Operations		Corporate		Consolidated
Revenue:
Retail merchandise sales	$	195,966	$	100,663	$	—	$	296,629
Pawn loan fees	97,857		44,258		—		142,115
Wholesale scrap jewelry sales	15,478		10,893		—		26,371
Consumer loan and credit services fees (1)	1,375		—		—		1,375
Total revenue	310,676		155,814		—		466,490

Cost of revenue:
Cost of retail merchandise sold	119,529		65,166		—		184,695
Cost of wholesale scrap jewelry sold	14,006		8,841		—		22,847
Consumer loan and credit services loss provision (1)	(361)		—		—		(361)
Total cost of revenue	133,174		74,007		—		207,181

Net revenue	177,502		81,807		—		259,309

Expenses and other income:
Store operating expenses	107,706		45,794		—		153,500
Administrative expenses	—		—		32,902		32,902
Depreciation and amortization	5,401		4,063		1,210		10,674
Interest expense	—		—		8,418		8,418
Interest income	—		—		(185)		(185)
Merger and acquisition expenses	—		—		68		68
Loss on foreign exchange	—		—		2,685		2,685
Write-off of certain Cash America merger related lease intangibles	—		—		3,630		3,630
Impairment of certain other assets	—		—		1,900		1,900

Total expenses and other income	113,107		49,857		50,628		213,592

Income (loss) before income taxes	$	64,395	$	31,950	$	(50,628)	$	45,717

(1)Effective June 30, 2020, the Company no longer offers an unsecured consumer loan product in the U.S.

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net income	$ 33,715	$ 32,918
Denominator:
Weighted-average common shares for calculating basic earnings per share (shares)	41,034	41,912
Stock options and nonvested stock awards (shares)	22	95
Weighted-average common shares for calculating diluted earnings per share (shares)	41,056	42,007
Earnings per share:
Basic (USD per share)	$ 0.82	$ 0.79
Diluted (USD per share)	$ 0.82	$ 0.78

- Definition

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

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- 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.

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+ 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, 2021	Mar. 31, 2020
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	4 years 1 month 6 days	3 years 10 months 24 days
Weighted average discount rate (as a percent)	6.70%	7.80%
Foreign Currency Transaction Loss, before Tax	$ (0.6)	$ (4.4)
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, 2021	Mar. 31, 2020
Leases [Abstract]
Operating lease expense	$ 31,065	$ 31,210
Variable lease expense	3,834	3,545
Total operating lease expense	$ 34,899	$ 34,755

Operating Leases - Lease Maturities (Details) $ in Thousands	Mar. 31, 2021 USD ($)
Leases [Abstract]
Nine months ending December 31, 2021	$ 78,410
2022	84,948
2023	64,926
2024	42,188
2025	18,221
Thereafter	23,966
Total	312,659
Less amount of lease payments representing interest	(39,158)
Total present value of lease payments	$ 273,501

Operating Leases - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 28,186	$ 28,835
Leased assets obtained in exchange for new operating lease liabilities	$ 16,778	$ 24,983

Long-Term Debt - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Aug. 26, 2020	Mar. 31, 2020	May 30, 2017
Debt Instrument [Line Items]
Total long-term debt	$ 537,108	$ 615,916		$ 652,263
Deferred finance costs, net	6,900	7,100		3,300
Revolving Unsecured Credit Facility due 2024 \| Line of Credit
Debt Instrument [Line Items]
Total long-term debt	44,000	123,000		330,000
5.375% senior unsecured notes due 2024 \| Senior Notes
Debt Instrument [Line Items]
Total long-term debt	$ 0	0		296,744
Stated interest rate (as a percent)	5.375%				5.375%
4.625% Senior Unsecured Notes due 2028 \| Senior Notes
Debt Instrument [Line Items]
Total long-term debt	$ 493,108	492,916		0
Stated interest rate (as a percent)	4.625%		4.625%
Revolving Unsecured Uncommitted Credit Facility due 2023 \| Line of Credit
Debt Instrument [Line Items]
Total long-term debt	$ 0	$ 0		$ 25,519

Long-Term Debt - Narrative (Details)	3 Months Ended
Long-Term Debt - Narrative (Details)	Mar. 31, 2021 USD ($)	Mar. 31, 2021 MXN ($)	Aug. 26, 2020 USD ($)	May 30, 2017 USD ($)
Revolving Unsecured Credit Facility due 2024 \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 500,000,000.0
Amount outstanding	44,000,000.0
Letters of credit outstanding	3,400,000
Remaining borrowing capacity	$ 452,600,000
Commitment fee (as a percent)	0.325%
Interest rate at end of period (as a percent)	2.82%	2.82%
Net proceeds	$ (79,000,000.0)
Revolving Unsecured Credit Facility due 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 due 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 due 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		$ 600,000,000.0
Amount outstanding		0
Remaining borrowing capacity		$ 600,000,000.0
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			$ 500,000,000.0
5.375% senior unsecured notes due 2024 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.375%	5.375%		5.375%
Face amount				$ 300,000,000.0
Debt ratio	2.75	2.75

Fair Value of Financial Instruments - Financial Assets and Liabilities Not Measured at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairment of certain other assets	$ 0	$ 1,900
Carrying Value
Financial assets:
Cash and cash equivalents	54,641	75,464	$ 65,850
Fees and service charges receivable	35,334	40,121	41,110
Total assets	355,413	429,881	415,191
Financial liabilities:
Total liabilities	544,000	655,519	623,000
Carrying Value \| Revolving unsecured credit facilities
Financial liabilities:
Debt	44,000	355,519	123,000
Carrying Value \| Senior unsecured notes (outstanding principal)
Financial liabilities:
Debt	500,000	300,000	500,000
Carrying Value \| Pawn loans
Financial assets:
Loans receivable	265,438	314,296	308,231
Estimated Fair Value
Financial assets:
Cash and cash equivalents	54,641	75,464	65,850
Fees and service charges receivable	35,334	40,121	41,110
Total assets	355,413	429,881	415,191
Financial liabilities:
Total liabilities	550,000	631,519	639,000
Estimated Fair Value \| Revolving unsecured credit facilities
Financial liabilities:
Debt	44,000	355,519	123,000
Estimated Fair Value \| Senior unsecured notes (outstanding principal)
Financial liabilities:
Debt	506,000	276,000	516,000
Estimated Fair Value \| Pawn loans
Financial assets:
Loans receivable	265,438	314,296	308,231
Estimated Fair Value \| Level 1
Financial assets:
Cash and cash equivalents	54,641	75,464	65,850
Fees and service charges receivable	0	0	0
Total assets	54,641	75,464	65,850
Financial liabilities:
Total liabilities	0	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	0	0	0
Estimated Fair Value \| Level 2
Financial assets:
Cash and cash equivalents	0	0	0
Fees and service charges receivable	0	0	0
Total assets	0	0	0
Financial liabilities:
Total liabilities	550,000	631,519	639,000
Estimated Fair Value \| Level 2 \| Revolving unsecured credit facilities
Financial liabilities:
Debt	44,000	355,519	123,000
Estimated Fair Value \| Level 2 \| Senior unsecured notes (outstanding principal)
Financial liabilities:
Debt	506,000	276,000	516,000
Estimated Fair Value \| Level 2 \| Pawn loans
Financial assets:
Loans receivable	0	0	0
Estimated Fair Value \| Level 3
Financial assets:
Cash and cash equivalents	0	0	0
Fees and service charges receivable	35,334	40,121	41,110
Total assets	300,772	354,417	349,341
Financial liabilities:
Total liabilities	0	0	0
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	$ 265,438	$ 314,296	$ 308,231

Segment Information (Details) $ in Thousands	3 Months Ended
Segment Information (Details) $ in Thousands	Mar. 31, 2021 USD ($) segment	Mar. 31, 2020 USD ($)
Schedule of Revenues from External Customers [Line Items]
Number of reportable segments \| segment	2
Revenue:
Retail merchandise sales	$ 272,042	$ 296,629
Pawn loan fees	115,522	142,115
Wholesale scrap jewelry sales	20,375	26,371
Consumer loan and credit services fees	0	1,375
Total revenue	407,939	466,490
Cost of revenue:
Cost of retail merchandise sold	157,153	184,695
Cost of wholesale scrap jewelry sold	17,197	22,847
Consumer loan and credit services fees	0	(361)
Total cost of revenue	174,350	207,181
Net revenue	233,589	259,309
Expenses and other income:
Store operating expenses	137,324	153,500
Administrative expenses	30,999	32,902
Depreciation and amortization	10,612	10,674
Interest expense	7,230	8,418
Interest income	(158)	(185)
Merger and acquisition expenses	166	68
Loss on foreign exchange	267	2,685
Write-off of certain Cash America merger related lease intangibles	878	3,630
Impairment of certain other assets	0	1,900
Total expenses and other income	187,318	213,592
Income (loss) before income taxes	46,271	45,717
U.S. Operations
Revenue:
Retail merchandise sales	189,957	195,966
Pawn loan fees	76,397	97,857
Wholesale scrap jewelry sales	9,203	15,478
Consumer loan and credit services fees		1,375
Total revenue	275,557	310,676
Cost of revenue:
Cost of retail merchandise sold	106,530	119,529
Cost of wholesale scrap jewelry sold	7,513	14,006
Consumer loan and credit services fees		(361)
Total cost of revenue	114,043	133,174
Net revenue	161,514	177,502
Expenses and other income:
Store operating expenses	95,247	107,706
Administrative expenses	0	0
Depreciation and amortization	5,382	5,401
Interest expense	0	0
Interest income	0	0
Merger and acquisition expenses	0	0
Loss on foreign exchange	0	0
Write-off of certain Cash America merger related lease intangibles	0	0
Impairment of certain other assets		0
Total expenses and other income	100,629	113,107
Income (loss) before income taxes	60,885	64,395
Latin America Operations
Revenue:
Retail merchandise sales	82,085	100,663
Pawn loan fees	39,125	44,258
Wholesale scrap jewelry sales	11,172	10,893
Consumer loan and credit services fees		0
Total revenue	132,382	155,814
Cost of revenue:
Cost of retail merchandise sold	50,623	65,166
Cost of wholesale scrap jewelry sold	9,684	8,841
Consumer loan and credit services fees		0
Total cost of revenue	60,307	74,007
Net revenue	72,075	81,807
Expenses and other income:
Store operating expenses	42,077	45,794
Administrative expenses	0	0
Depreciation and amortization	4,263	4,063
Interest expense	0	0
Interest income	0	0
Merger and acquisition expenses	0	0
Loss on foreign exchange	0	0
Write-off of certain Cash America merger related lease intangibles	0	0
Impairment of certain other assets		0
Total expenses and other income	46,340	49,857
Income (loss) before income taxes	25,735	31,950
Corporate
Revenue:
Retail merchandise sales	0	0
Pawn loan fees	0	0
Wholesale scrap jewelry sales	0	0
Consumer loan and credit services fees		0
Total revenue	0	0
Cost of revenue:
Cost of retail merchandise sold	0	0
Cost of wholesale scrap jewelry sold	0	0
Consumer loan and credit services fees		0
Total cost of revenue	0	0
Net revenue	0	0
Expenses and other income:
Store operating expenses	0	0
Administrative expenses	30,999	32,902
Depreciation and amortization	967	1,210
Interest expense	7,230	8,418
Interest income	(158)	(185)
Merger and acquisition expenses	166	68
Loss on foreign exchange	267	2,685
Write-off of certain Cash America merger related lease intangibles	878	3,630
Impairment of certain other assets		1,900
Total expenses and other income	40,349	50,628
Income (loss) before income taxes	$ (40,349)	$ (50,628)