0000840489-22-000035 | 10-K | XBRL Viewer

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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 120,046	$ 65,850
Accounts receivable, net	55,356	41,110
Pawn loans	347,973	308,231
Finance receivables, net	181,021	0
Inventories	263,311	190,352
Leased merchandise, net	143,944	0
Income taxes receivable	5,419	9,634
Prepaid expenses and other current assets	12,288	9,388
Total current assets	1,129,358	624,565
Property and equipment, net	462,526	373,667
Operating lease right of use asset	306,061	298,957
Goodwill	1,536,178	977,381
Intangible assets, net	388,184	83,651
Other assets	8,531	9,818
Deferred tax assets, net	5,614	4,158
Total assets	3,836,452	2,372,197
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued liabilities	240,940	81,917
Customer deposits and prepayments	57,310	34,719
Income taxes payable	3,387	1,148
Lease liability, current	90,570	88,622
Total current liabilities	392,207	206,406
Revolving unsecured credit facilities	259,000	123,000
Senior unsecured notes	1,033,904	492,916
Deferred tax liabilities, net	126,098	71,173
Lease liability, non-current	203,166	194,887
Other liabilities	13,950	0
Total liabilities	2,028,325	1,088,382
Commitments and contingencies (Note 13)
Stockholders’ equity:
Common stock; $0.01 par value; 90,000 shares authorized; 57,322 and 49,276 shares issued, respectively; 48,479 and 41,038 shares outstanding, respectively	573	493
Additional paid-in capital	1,724,956	1,221,788
Retained earnings	866,679	789,303
Accumulated other comprehensive loss	(131,299)	(118,432)
Common stock held in treasury, 8,843 and 8,238 shares at cost, respectively	(652,782)	(609,337)
Total stockholders’ equity	1,808,127	1,283,815
Total liabilities and stockholders’ equity	$ 3,836,452	$ 2,372,197

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.01
Common Stock, Shares Authorized	90,000,000
Common Stock, Shares, Issued	57,322,000	49,276,000
Common Stock, Shares, Outstanding	48,479,000	41,038,000
Treasury Stock, Shares	8,843,000	8,238,000

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue:
Retail merchandise sales	$ 1,134,249	$ 1,075,518	$ 1,175,561
Pawn loan fees	475,782	457,517	564,824
Leased merchandise income	22,720	0	0
Interest and fees on finance receivables	9,024	2,016	20,178
Wholesale scrap jewelry sales	57,190	96,233	103,876
Total revenue	1,698,965	1,631,284	1,864,439
Cost of revenue:
Cost of retail merchandise sold	663,464	641,087	745,861
Depreciation of leased merchandise	12,826	0	0
Provision for Lease Losses	5,442	0	0
Provision for loan losses (1)	48,952	(488)	4,159
Cost of wholesale scrap jewelry sold	49,129	79,546	96,072
Total cost of revenue	779,813	720,145	846,092
Net revenue	919,152	911,139	1,018,347
Expenses and other income:
Operating expenses	564,832	562,158	595,539
Administrative expenses	111,259	110,931	122,334
Depreciation and amortization	45,906	42,105	41,904
Interest expense	32,386	29,344	34,035
Interest income	(696)	(1,540)	(1,055)
Loss (gain) on foreign exchange	436	884	(787)
Merger and acquisition expenses	15,449	1,316	1,766
Gain on revaluation of contingent acquisition consideration	(17,871)	0	0
Impairments and dispositions of certain other assets	949	10,505	0
Loss on extinguishment of debt	0	11,737	0
Total expenses and other income	752,650	767,440	793,736
Income before income taxes	166,502	143,699	224,611
Provision for income taxes	41,593	37,120	59,993
Net income	$ 124,909	$ 106,579	$ 164,618
Earnings per share:
Basic (in dollars per share)	$ 3.05	$ 2.57	$ 3.83
Diluted (in dollars per share	$ 3.04	$ 2.56	$ 3.81

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 124,909	$ 106,579	$ 164,618
Other comprehensive income:
Currency translation adjustment	(12,867)	(21,463)	16,148
Comprehensive income	$ 112,042	$ 85,116	$ 180,766

- 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

CONSOLIDATED STATEMENTS OF 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, 2018		49,276				5,673
Balance at beginning of period (value) at Dec. 31, 2018	$ 1,318,104	$ 493	$ 1,224,608	$ 606,810	$ (113,117)	$ (400,690)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under share-based compensation (value)	0	$ 0	(1,441)			$ 1,441
Shares issued under share-based compensation (shares)		0				(21)
Exercise of stock options, net of shares net-settled (shares)		0				(10)
Exercise of stock options, net of shares net-settled (value)	400	$ 0	(319)			$ 719
Shares issued upon acquisition of American First Finance	0
Share-based compensation expense (value)	8,680		8,680
Net income	164,618			164,618
Dividends paid	(43,952)			(43,952)
Currency translation adjustment	16,148				16,148
Repurchases of treasury stock (shares)						1,305
Repurchases of treasury stock (value)	(113,963)					$ (113,963)
Balance at end of period (shares) at Dec. 31, 2019		49,276				6,947
Balance at end of period (value) 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 (value)	(3,326)	$ 0	(10,663)			$ 7,337
Shares issued under share-based compensation (shares)		0				(98)
Exercise of stock options, net of shares net-settled (shares)						(38)
Exercise of stock options, net of shares net-settled (value)	798		(1,991)			$ 2,789
Shares issued upon acquisition of American First Finance	0
Share-based compensation expense (value)	2,914		2,914
Net income	106,579			106,579
Dividends paid	(44,752)			(44,752)
Currency translation adjustment	(21,463)				(21,463)
Repurchases of treasury stock (shares)						1,427
Repurchases of treasury stock (value)	(106,970)					$ (106,970)
Balance at end of period (shares) at Dec. 31, 2020		49,276				8,238
Balance at end of period (value) at Dec. 31, 2020	$ 1,283,815	$ 493	1,221,788	789,303	(118,432)	$ (609,337)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	46
Shares issued under share-based compensation (value)	$ (1,663)		(7,090)			$ 5,427
Shares issued under share-based compensation (shares)						(73)
Exercise of stock options, net of shares net-settled (shares)						(10)
Exercise of stock options, net of shares net-settled (value)	380		(358)			$ 738
Shares issued upon acquisition of American First Finance	505,546	$ 80	505,466
Shares issued upon acquisition of American First Finance (shares)		8,046
Share-based compensation expense (value)	5,150		5,150
Net income	124,909			124,909
Dividends paid	(47,533)			(47,533)
Currency translation adjustment	(12,867)				(12,867)
Repurchases of treasury stock (shares)						688
Repurchases of treasury stock (value)	(49,610)					$ (49,610)
Balance at end of period (shares) at Dec. 31, 2021		57,322				8,843
Balance at end of period (value) at Dec. 31, 2021	$ 1,808,127	$ 573	$ 1,724,956	$ 866,679	$ (131,299)	$ (652,782)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	28

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	28	46
Exercise of stock options	22
Common stock, dividends, declared (in dollars per share)	$ 1.17	$ 1.08	$ 1.02

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flow from operating activities:
Net income	$ 124,909	$ 106,579	$ 164,618
Adjustments to reconcile net income to net cash flow provided by operating activities:
Depreciation of leased merchandise	12,826	0	0
Provision for lease losses	5,442	0	0
Provision for loan losses	48,952	(839)	2,395
Share-based compensation expense	5,150	2,914	8,680
Depreciation and amortization expense	45,906	42,105	41,904
Amortization of debt issuance costs	1,671	1,649	1,430
Net amortization of premiums, discounts and unearned origination fees on finance receivables	1,132	0	0
Gain on revaluation of contingent acquisition consideration	(17,871)	0	0
Impairments and dispositions of certain other assets	949	10,505	0
Loss on extinguishment of debt	0	11,737	0
Deferred income taxes, net	10,722	14,476	7,008
Changes in operating assets and liabilities, net of business combinations:
Accounts receivable, net	(2,492)	5,474	110
Inventories purchased directly from customers, wholesalers or manufacturers	(27,006)	29,174	5,842
Prepaid expenses and other assets	(22,563)	0	0
Prepaid expenses and other assets	3,094	1,400	(1,049)
Accounts payable, accrued liabilities and other liabilities	26,180	8,621	(3,383)
Income taxes	6,303	(11,531)	4,041
Net cash flow provided by operating activities	223,304	222,264	231,596
Cash flow from investing activities:
Pawn loans, net	(73,340)	105,418	21,650
Finance receivables, net	(5,844)	1,590	12,756
Purchases of furniture, fixtures, equipment and improvements	(42,022)	(37,543)	(44,311)
Purchases of store real property	(79,507)	(45,502)	(74,661)
Portion of AFF Acquisition paid in cash, net of cash acquired	(462,102)	0	0
Acquisitions of pawn stores, net of cash acquired	(81,822)	(44,315)	(52,487)
Net cash flow used in investing activities	(744,637)	(20,352)	(137,053)
Cash flow from financing activities:
Borrowings from unsecured credit facilities	560,000	354,425	257,000
Repayments of unsecured credit facilities	(424,000)	(569,933)	(217,000)
Issuance of senior unsecured notes	550,000	500,000	0
Redemption of senior unsecured notes	0	(300,000)	0
Redemption premium and other redemption costs on senior unsecured notes	0	(8,781)	0
Debt issuance costs paid	(10,581)	(7,963)	(1,149)
Purchases of treasury stock	(49,610)	(106,970)	(116,105)
Proceeds from exercise of stock options	380	1,140	400
Payment of minimum withholding taxes on net share settlement of stock options exercised	(1,663)	(3,668)	0
Payments of Dividends	(47,533)	(44,752)	(43,952)
Net cash flow provided by (used in) financing activities	576,993	(186,502)	(120,806)
Effect of exchange rates on cash	(1,464)	3,913	997
Change in cash and cash equivalents	54,196	19,323	(25,266)
Cash and cash equivalents at beginning of the year	65,850	46,527	71,793
Cash and cash equivalents at end of the year	120,046	65,850	46,527
Supplemental disclosure of cash flow information:
Interest	29,461	21,033	32,680
Income taxes	24,563	34,186	48,867
Supplemental disclosure of non-cash investing and financing activity:
Non-cash transactions in connection with pawn loans settled through forfeitures of collateral transferred to inventories	430,306	340,891	500,744
Shares issued upon acquisition of American First Finance	$ 505,546	$ 0	$ 0

Organization and Nature of the Company	12 Months Ended
Organization and Nature of the Company	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of the Company	GENERAL Organization and Nature of the Company On December 16, 2021, FirstCash, Inc. implemented a holding company reorganization, which resulted in FirstCash Holdings, Inc. owning all of the outstanding capital stock of FirstCash, Inc. Following the reorganization, FirstCash Holdings, Inc. became the successor issuer to FirstCash, Inc. FirstCash Holdings, Inc. (together with its wholly-owned subsidiaries, the “Company”) is incorporated in the state of Delaware. On December 17, 2021, the Company completed the acquisition (the “AFF Acquisition”) of American First Finance (“AFF”), which is a leading technology-driven retail point-of-sale (“POS”) payment solutions platform primarily focused on providing lease-to-own (“LTO”) products. See Note 3 for additional information about the AFF Acquisition. The Company operates two business lines: pawn operations and retail POS payment solutions which are organized into three reportable segments. The U.S. pawn segment consists of all pawn operations in 26 U.S. states and the District of Columbia, while the Latin America pawn segment consists of all pawn operations in Mexico, Guatemala, Colombia and El Salvador. The retail POS payment solutions segment consists of the operations of AFF. The Company’s primary business line continues to be the operation of retail pawn stores, also known as “pawnshops,” which focus on serving cash and credit-constrained consumers. Pawn stores help customers meet small short-term cash needs by providing non-recourse pawn loans and buying merchandise directly from customers. Personal property, such as jewelry, electronics, tools, appliances, sporting goods and musical instruments, is pledged and held as collateral for the pawn loans over the typical 30-day term of the loan. Pawn stores also generate retail sales primarily from the merchandise acquired through collateral forfeitures and over-the-counter purchases from customers. The Company’s retail POS payment solutions segment focuses on providing LTO and retail financing payment options across a large network of traditional and e-commerce retail merchant partners in all 50 states in the U.S., the District of Columbia and Puerto Rico. AFF’s retail merchant partnerships provide consumer goods and services to their shoppers and use AFF’s LTO and retail finance solutions to facilitate payments on such transactions. Continuing Impact of COVID-19 The COVID-19 pandemic continues to impact numerous aspects of the Company’s business and the continuing long-term impact to its business remains unknown. 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 concern and the efficacy and adoption rate of the COVID-19 vaccines in the jurisdictions in which the Company operates. In addition, changes in economic conditions and consumer spending, rising inflation, and the actions taken to limit the economic impact of COVID-19, such as government stimulus and other transfer programs, have and may continue to have a material adverse impact on demand for pawn loans in future periods. Moreover, safety protocols, staffing constraints and supply chain delays continue to impact operations and traffic counts for many retailers, which include the Company’s pawn stores and many of AFF’s retail merchant partners.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies followed in the preparation of these financial statements:

Principles of consolidation - The accompanying consolidated financial statements include the accounts of FirstCash Holdings, Inc. and its wholly-owned subsidiaries. The Company regularly makes acquisitions and the results of the acquired operations have been consolidated since the acquisition dates. All significant intercompany accounts and transactions have been eliminated.

Cash and cash equivalents - The Company considers any highly liquid investments with an original maturity of three months or less at the date of acquisition to be cash equivalents. As of December 31, 2021, the amount of cash associated with indefinitely reinvested foreign earnings was $57.5 million, which is primarily held in Mexican pesos.

Pawn loans and revenue recognition - Pawn loans are secured by the customer’s pledge of tangible personal property, which the Company holds during the term of the loan. If a pawn loan defaults, the Company relies on the sale of the pawned property to recover the principal amount of an unpaid pawn loan, plus a yield on the investment, as the Company’s pawn loans are non-recourse against the customer. The Company accrues pawn loan fee revenue on a constant-yield basis over the life of the pawn loan for all pawns for which the Company deems collection to be probable based on historical pawn redemption statistics, which is included in accounts receivable, net in the accompanying consolidated balance sheets. If the pawn loan is not repaid prior to the expiration of the pawn loan term, including any extension or grace period, if applicable, the principal amount loaned becomes the inventory carrying value of the forfeited collateral, which is typically recovered through sales of the forfeited items at prices well above the carrying value. The Company has determined no allowance related to credit losses on pawn loans is required as the fair value of the pledged collateral is significantly in excess of the pawn loan amount.

Pawn inventories and revenue recognition - Pawn inventories represent merchandise acquired from forfeited pawn loans and merchandise purchased directly from the general public. The Company also retails limited quantities of new or refurbished merchandise obtained directly from wholesalers and manufacturers. Pawn inventories from forfeited pawn loans are recorded at the amount of the pawn principal on the unredeemed goods, exclusive of accrued interest. Pawn inventories purchased directly from customers, wholesalers and manufacturers are recorded at cost. The cost of pawn inventories is determined on the specific identification method. Pawn inventories are stated at the lower of cost or net realizable value and, accordingly, valuation allowances are established if pawn inventory carrying values are in excess of estimated selling prices, net of direct costs of disposal. Management has evaluated pawn inventories and determined that a valuation allowance is not necessary.

The Company’s merchandise sales are primarily retail sales to the general public in its pawn stores. The Company records sales revenue at the time of the sale. The Company presents merchandise sales net of any sales or value-added taxes collected. Some jewelry inventory is melted and processed at third-party facilities and the precious metal and diamond content is sold at either prevailing market commodity prices or a previously agreed upon price with a commodity buyer. The Company records revenue from these wholesale scrap jewelry transactions when a price has been agreed upon and the Company ships the commodity to the buyer.

Layaway plan and deferred revenue - The Company does not currently provide direct financing to customers for the purchase of merchandise in its pawn stores, but does permit its customers to purchase pawn merchandise on an interest-free “layaway” plan. Should the customer fail to make a required payment pursuant to a layaway plan, the item is returned to pawn inventory and all or a portion of previous payments are typically forfeited to the Company. Deposits and interim payments from customers on layaway sales are recorded as deferred revenue and subsequently recorded as retail merchandise sales revenue when the merchandise is delivered to the customer upon receipt of final payment or when previous payments are forfeited to the Company. Layaway payments from customers are included in customer deposits and prepayments in the accompanying consolidated balance sheets.

Leased merchandise and revenue recognition - The Company provides merchandise, consisting primarily of furniture and mattresses, appliances, jewelry, electronics and automotive products, to customers of its merchant partners for lease under certain terms agreed to by the customer. The customer has the right to acquire the title either through an early buyout option or through payment of all required lease payments. The Company maintains ownership of the leased merchandise until all payment obligations are satisfied under the lease agreement. The customer has the right to cancel the lease at any time by returning the merchandise and making all scheduled payments due through the minimum lease holding period, which is typically 60 days. Leased merchandise contracts can typically be renewed for between six to 24 months. Leased merchandise is stated at depreciated cost. The Company depreciates leased merchandise over the life of the lease, and assumes no salvage value. Depreciation is accelerated upon an early buyout. All of the Company’s leased merchandise represents on-lease merchandise and all leases are operating leases.

Lease income is recognized over the lease term and is recorded net of any sales taxes collected. Charges for late fees and insufficient fund fees are recognized as income when collected. Initial direct costs related to the Companyʼs lease agreements are added to the basis of the leased property and recognized over the lease term in proportion to the recognition of lease income. The Company typically charges the customer a non-refundable processing fee at lease inception and may also receive a discount from or pay a premium to certain merchant partners for leases originated at their locations, which are deferred and amortized using the straight-line method as adjustments to lease income over the contractual life of the related leased merchandise. Unamortized fees, discounts and premiums are recognized in full upon early buyout or charge-off.

The Company accrues for lease income earned but not yet collected as accrued rent receivable, which is included in accounts receivable, net in the accompanying consolidated balance sheets. Alternatively, lease payments received in excess of the amount earned are recognized as deferred revenue, which is included in customer deposits and prepayments in the accompanying consolidated balance sheets. Customer payments are first applied to applicable sales tax and scheduled lease payments, then applied to any uncollected fees, such as late fees and insufficient fund fees. The Company collects sales taxes on behalf of the customer and remits all applicable sales taxes collected to the respective jurisdiction.

Provision for lease losses - The Company records a provision for lease losses on an allowance method, which estimates the leased merchandise losses incurred but not yet identified by management as of the end of the accounting period. The allowance for lease losses is based primarily upon historical loss experience with consideration given to recent and forecasted business trends including, but not limited to, loss trends, delinquency levels, economic conditions, underwriting and collection practices.

The Company charges off leased merchandise when a lease is 90 days or more contractually past due. If an account is deemed to be uncollectible prior to this date, the Company will charge off the leased merchandise at the point in time it is deemed uncollectible.

Finance receivables and revenue recognition - The Company purchases and services retail finance receivables, the term of which typically ranges from six to 24 months, directly from its merchant partners or from its bank partner. The Company has a partnership with a Utah state-chartered bank that requires the Company to purchase the rights to the cash flows associated with finance receivables marketed to retail consumers on the bank’s behalf. The bank establishes the underwriting criteria for the finance receivables originated by the bank.

Interest income is recognized using the interest method over the life of the finance receivable for all loans for which the Company deems collection to be probable based on historical loan redemption statistics and stops accruing interest upon charge-off. Accrued interest, net of an allowance for uncollectible interest income is included in accounts receivable, net in the accompanying consolidated balance sheets and as of December 31, 2021 and 2020 was $12.4 million and $0.0 million, respectively. Charges for late fees and insufficient fund fees are recognized as income when collected. The Company receives an origination fee on newly purchased bank loans and may receive a discount from or pay a premium to certain merchant partners for finance receivables purchased from them, which are deferred and amortized using the interest method as adjustments to yield over the contractual life of the related finance receivable. Unamortized origination fees, discounts and premiums are recognized in full upon early payoff or charge-off.

The Company offers customers an early payoff discount on most of its finance receivables whereby the customer has between 90 and 105 days to pay the full principal balance without incurring any interest charge. If the borrower does not pay the full principal balance prior to the expiration of the early payoff discount period, interest charges are applied retroactively to the inception date of the loan. The Company accrues interest income during the early payoff discount period but records a reserve for loans expected to pay the full principal balance prior to the expiration of the early payoff discount period based on historical payment patterns.

Provision for loan losses - Expected lifetime losses on finance receivables are recognized upon loan purchase, which requires the Company to make its best estimate of probable lifetime losses at the time of purchase. The Company segments its finance receivable portfolio into pools of receivables with similar risk characteristics which include loan product and monthly origination vintage and evaluates each pool for impairment.

The Company calculates the allowance for loan losses based on historical loss information and incorporates observable and forecasted economic conditions over a reasonable and supportable forecast period covering the full contractual life of finance receivables. Incorporating observable and forecasted economic conditions could have a material impact on the measurement of the allowance to the extent that forecasted economic conditions change significantly. The Company may also consider other qualitative factors to address recent and forecasted business trends in estimating the allowance, as necessary, including, but not limited to, loss trends, delinquency levels, economic conditions, underwriting and collection practices. The allowance for loan losses is maintained at a level considered appropriate to cover expected lifetime losses on the finance receivable portfolio, and the appropriateness of the allowance is evaluated at each period end.

The Company charges off finance receivables when a receivable is 90 days or more contractually past due. If an account is deemed to be uncollectible prior to this date, the Company will charge off the finance receivable at the point in time it is deemed uncollectible.

Foreign currency transactions - The Company has pawn 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. Prior to translation, U.S. dollar-denominated transactions of the foreign subsidiaries are remeasured into their functional currency using current rates of exchange for monetary assets and liabilities and historical rates of exchange for non-monetary assets and liabilities. Gains and losses from remeasurement of dollar-denominated monetary assets and liabilities in Mexico, Guatemala and Colombia are included in (gain) loss on foreign exchange in the consolidated statements of income. Deferred taxes are not currently recorded on cumulative foreign currency translation adjustments, as the Company indefinitely reinvests earnings of its foreign subsidiaries. The Company also has pawn operations in El Salvador where the reporting and functional currency is the U.S. dollar.

The average value of the Mexican peso to the U.S. dollar exchange rate for 2021 was 20.3 to 1 compared to 21.5 to 1 in 2020 and 19.3 to 1 in 2019. The average value of the Guatemalan quetzal to the U.S. dollar exchange rate for 2021, 2020 and 2019 was 7.7 to 1. The average value of the Colombian peso to the U.S. dollar exchange rate for 2021 was 3,742 to 1 compared to 3,693 to 1 in 2020 and 3,280 to 1 in 2019.

Operating expenses - Costs incurred in operating the Company’s pawn stores have been classified as operating expenses, which include salary and benefit expense of pawn store-level employees, occupancy costs, bank charges, security, insurance, utilities, supplies and other costs incurred by the pawn stores. Additionally, costs incurred in operating AFF have been classified as operating expenses, which include salary and benefit expense of certain operations focused departments, merchant partner incentives, bank and other payment processing charges, credit reporting costs, information technology costs, advertising costs and other operational costs incurred.

Property and equipment - Property and equipment are recorded at cost. Depreciation is recorded on the straight-line method generally based on estimated useful lives of 30 to 40 years for buildings and three to five years for furniture, fixtures and equipment. The costs of improvements on leased pawn stores are capitalized as leasehold improvements and are depreciated using the straight-line method over the applicable lease period, or useful life, if shorter. Maintenance and repairs are charged to expense as incurred and renewals and betterments are charged to the appropriate property and equipment accounts. Upon sale or retirement of depreciable assets, the cost and related accumulated depreciation is removed from the accounts, and the resulting gain or loss is included in the results of operations in the period the assets are sold or retired.

Business combinations - Business combination accounting requires the Company to determine the fair value of all assets acquired, including identifiable intangible assets, liabilities assumed and contingent consideration issued in a business combination. The total consideration of the acquisition is allocated to the assets and liabilities in amounts equal to the estimated fair value of each asset and liability as of the acquisition date, and any remaining acquisition consideration is classified as goodwill. This allocation process requires extensive use of estimates and assumptions. When appropriate, the Company utilizes independent valuation experts to advise and assist in determining the fair value of the assets acquired and liabilities assumed in connection with a business acquisition, in determining appropriate amortization methods and periods for identified intangible assets and in determining the fair value of contingent consideration, which is reviewed at each subsequent reporting period with changes in the fair value of the contingent consideration recognized in the consolidated statements of income. See Note 3.

The Company’s other material indefinite-lived intangible assets consist of certain trade names and pawn licenses. The Company performs its indefinite-lived intangible asset impairment assessment annually as of December 31, and between annual assessments if an event occurs or circumstances change that would more likely than not reduce the fair value of an indefinite-lived intangible asset below its carrying amount. See Note 14.

Merger and acquisition expenses - The Company incurs incremental costs directly associated with merger and acquisition activity, including, but not limited to, professional fees, legal expenses, severance, retention and other employee-related costs, contract breakage costs and costs related to consolidation of technology systems and corporate facilities. The Company presents merger and acquisition expenses separately in the consolidated statements of income to identify these incremental activities apart from the expenses incurred to operate the business.

Long-lived assets - Property and equipment, intangible assets subject to amortization and non-current assets are reviewed for impairment whenever events or changes in circumstances indicate that the net book value of the asset may not be recoverable. An impairment loss is recognized if the sum of the expected future cash flows (undiscounted and before interest) from the use of the asset is less than the net book value of the asset. Generally, the amount of the impairment loss is measured as the difference between the net book value of the asset and the estimated fair value of the related asset.

During 2020, the Company recorded a $1.9 million impairment of other assets and a $1.5 million impairment of property and equipment. The Company did not record any impairment loss for the year ended December 31, 2021.

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. All fair value measurements related to acquisitions are level 3, non-recurring measurements, based on unobservable inputs. Unless otherwise disclosed, the fair values of financial instruments approximate their recorded values, due primarily to their short-term nature. See Note 6.

Income taxes - The Company uses the asset and liability method of computing deferred income taxes on all material temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. See Note 12.

Advertising - The Company expenses the costs of advertising when incurred. Advertising expense for the years ended December 31, 2021, 2020 and 2019, was $1.0 million, $1.1 million, and $1.2 million, respectively.

Forward sales commitments - The Company periodically uses forward sale agreements with a major gold bullion bank to sell a portion of the expected amount of scrap gold, which is typically jewelry that is broken or of low retail value, produced in the normal course of business from its liquidation of such merchandise. These commitments qualify for an exemption from derivative accounting as normal sales, based on historical terms, conditions and quantities, and are therefore not recorded on the Company's balance sheet.

Earnings per share - Basic earnings per share is computed by dividing net income by the weighted-average number of shares outstanding during the year. Diluted earnings per share is calculated by giving effect to the potential dilution that could occur if securities or other contracts to issue common shares were exercised and converted into common shares during the year.

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


	Year Ended December 31,
	2021		2020		2019
Numerator:
Net income	$	124,909	$	106,579	$	164,618

Denominator:
Weighted-average common shares for calculating basic earnings per share	40,975		41,502		43,020
Effect of dilutive securities:
Stock options and restricted stock unit awards	49		98		188
Weighted-average common shares for calculating diluted earnings per share	41,024		41,600		43,208

Earnings per share:
Basic	$	3.05	$	2.57	$	3.83
Diluted	3.04		2.56		3.81

Use of estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. Significant estimates include the accrual for earned but uncollected pawn fees, allowances for lease and loan losses and related lease and loan loss provisions, valuation of acquired assets, assumed liabilities and contingent consideration of the AFF Acquisition, evaluation of goodwill and other intangible assets for impairment and current and deferred tax assets and liabilities.

Reclassification - Certain amounts in the consolidated statements of income and consolidated statements of cash flows for the years ended December 31, 2020 and 2019 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.

In August 2021, the Financial Accounting Standards Board issued ASU No 2021-06, “Presentation of Financial Statements (Topic 205), Financial Services—Depository and Lending (Topic 942), and Financial Services—Investment Companies (Topic 946): Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10786, Amendments to Financial Disclosures About Acquired and Disposed Businesses, and No.33-10835, Update of Statistical Disclosures for Bank and Savings and Loan Registrants” (“ASU 2021-06”). ASU 2021-06 amends certain SEC disclosure guidance that is included in the accounting standards codification to reflect the SEC’s recent issuance of rules intended to modernize and streamline disclosure requirements. The Company adopted ASU 2021-06 upon issuance, which did not have a material effect on the Company’s current financial position, results of operations or financial statement disclosures.

Acquisitions

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

American First Finance Acquisition

On December 17, 2021, the Company completed the AFF Acquisition. Under the terms and conditions set forth in the business combination agreement dated October 27, 2021, as amended, the Company acquired all of the equity interests of AFF in exchange for 8,046,252 shares of the Company’s common stock and cash consideration. Immediately following the AFF Acquisition, the Company’s shareholders owned approximately 83% of the common stock of the Company and the seller parties owned approximately 17%.

In addition to the closing purchase price, the seller parties have the right to receive up to an additional $375.0 million of contingent consideration (the “Contingent Consideration”). In particular, the seller parties have the right to receive up to $250.0 million of additional consideration if AFF achieves certain adjusted EBITDA targets for the period consisting of the fourth quarter of 2021 through the end of 2022 and up to $50.0 million if AFF achieves certain adjusted EBITDA targets for the first half of 2023. In addition, the seller parties have the right to receive up to an additional $75.0 million of consideration in the event that the highest average stock price of the Company for any 10-day period from December 6, 2021 through February 28, 2023 is less than $86.25. The Contingent Consideration is payable in cash or Company common stock, at the Company’s discretion.

The following table summarizes the consideration transferred in connection with the AFF Acquisition, net of cash acquired (in thousands except share and per share amounts):


	AFF Acquisition
Shares of FirstCash Holdings, Inc. common stock issued	8,046,252
Closing common stock price per share at December 16, 2021	$	62.83
Stock consideration	$	505,546
Cash consideration paid to AFF shareholders at closing	253,087
Cash consideration paid to extinguish AFF pre-existing debt	257,278
Present value of deferred consideration payable to AFF shareholders on December 31, 2022	23,873
Estimated fair value of Contingent Consideration (see Note 6)	127,420
Less cash acquired	(48,263)
Aggregate purchase consideration	$	1,118,941

The Company has performed a valuation analysis of identifiable assets acquired and liabilities assumed and allocated the aggregate purchase consideration based on the fair values of those identifiable assets and liabilities. The estimate of the fair values of identifiable assets acquired and liabilities assumed are determined by applying various valuation techniques, including discounted cash flow analyses, Monte Carlo simulations and the replacement cost method, which include various inputs and assumptions such as discount rates, projected cash flows and profit margins, attrition rates, economic obsolescence, expected charge-off rates and depreciation, some of which may not be observable in the market. The purchase price allocation is subject to change as the Company finalizes the analysis of the fair value at the date of the AFF Acquisition. The final determination of the fair value of assets acquired and liabilities assumed will be completed within the twelve-month measurement period from the date of the AFF Acquisition, as required by applicable accounting guidance. Due to the significance of the AFF Acquisition, the Company may use all of this measurement period to adequately analyze and assess the fair values of assets acquired and liabilities assumed.

The allocation of the aggregate purchase consideration, net of cash acquired and subject to future measurement period adjustments, is as follows (in thousands):


	AFF Acquisition
Accounts receivable	$	11,660
Finance receivables (1)	225,261
Leased merchandise	139,649
Prepaid expenses and other current assets	4,474
Property and equipment	11,670
Operating lease right of use asset	491
Goodwill (2)	503,106
Intangible assets (3)	305,100
Accounts payable and accrued liabilities	(28,357)
Customer deposits and prepayments	(11,014)
Lease liability, current	(10)
Deferred tax liabilities	(42,608)
Lease liability, non-current	(481)
Purchase price	$	1,118,941

(1)Finance receivables acquired in a business combination that have experienced more-than-insignificant deterioration in credit quality since origination are considered purchased credit deteriorated (“PCD”). The Company evaluated the acquired finance receivables for deterioration in credit quality primarily based on delinquency status. At the acquisition date, an estimate of expected lifetime credit losses for PCD finance receivables is added to the acquisition date fair value to establish the initial amortized cost basis of the PCD finance receivables. As the initial allowance for credit losses is added to the fair value, there is no provision for loan losses recognized upon acquisition of a PCD loan. See Note 7.

A reconciliation of the difference between the fair value of the PCD finance receivables and the unpaid principal balance as of the date of the acquisition is as follows (in thousands):


	PCD Finance Receivables
Unpaid principal balance of PCD finance receivables	$	41,900
Non-credit discount	(4,120)
Amortized cost of PCD finance receivables	37,780
Less allowance for loan losses recognized for PCD finance receivables	32,036
Fair value of PCD finance receivables	$	5,744

For acquired finance receivables not deemed PCD at acquisition (“non-PCD”), the differences between the initial fair value and the unpaid principal balance are recognized as interest income on a level-yield basis over the lives of the related loans. At the acquisition date, an initial allowance for expected lifetime credit losses is estimated and recorded as provision for loan losses. See Note 7.

A reconciliation of the difference between the fair value of the non-PCD finance receivables and the unpaid principal balance as of the date of the acquisition is as follows (in thousands):


	Non-PCD Finance Receivables
Unpaid principal balance of non-PCD finance receivables	$	177,456
Fair value premium	42,061
Fair value of non-PCD finance receivables	219,517
Less allowance for loan losses recognized for non-PCD finance receivables	44,250
Carrying value of non-PCD finance receivables	$	175,267

(2)The goodwill is attributable to the excess of the aggregate purchase consideration over the fair value of the net tangible and intangible assets acquired and liabilities assumed and is considered to represent the synergies and economies of scale expected from combining the operations of the Company and AFF. This goodwill has been assigned to the retail POS payment solutions reporting unit. Excluding any potential earnout payments, approximately $212.3 million of the goodwill arising from the AFF Acquisition is expected to be deductible for U.S. income tax purposes.

(3)Intangible assets acquired and the respective useful lives assigned consist of the following (in thousands, except useful life):


			Useful Life
	AFF Acquisition		(In Years)
Merchant relationships	$	194,000	7
Developed technology	99,400		5
Trade name	10,200		2
Relationships with existing lessees	1,500		1

Total intangible assets	$	305,100

The merchant relationships are being amortized using an accelerated amortization method that reflects the future cash flows expected from existing merchant relationships. Annual estimated amortization expense of the merchant relationships over each of the next five years is approximately $30.6 million, $31.5 million, $29.8 million, $28.2 million and $26.2 million.

2021 Pawn Acquisitions

During 2021, the Company acquired 46 pawn stores in the U.S. in three separate transactions and acquired a pawn license that will be used to open a new pawn store in the state of Nevada. The aggregate purchase price for these acquisitions totaled $79.5 million, net of cash acquired and subject to future post-closing adjustments. The aggregate purchase price was composed of $76.0 million in cash paid at closing and remaining short-term amounts payable to the sellers of approximately $3.5 million. During 2021, the Company also paid $5.8 million of purchase price amounts payable related to prior-year acquisitions.

The purchase price of each of the 2021 pawn acquisitions was allocated to assets acquired and liabilities assumed based upon the estimated fair market values at the date of acquisition. The excess purchase price over the estimated fair market value of the net assets acquired has been recorded as goodwill. The goodwill arising from these pawn store acquisitions consists largely of the synergies and economies of scale expected from combining the operations of the Company and the pawn stores acquired. These pawn acquisitions were not material individually or in the aggregate to the Company’s consolidated financial statements.

The estimated fair value of the assets acquired and liabilities assumed are preliminary, as the Company is gathering information to finalize the valuation of these assets and liabilities. The preliminary allocation of the aggregate purchase price for these individually immaterial pawn store acquisitions during 2021 (the “2021 Pawn Acquisitions”) is as follows (in thousands):


	2021 Pawn Acquisitions
Pawn loans	$	7,920
Accounts receivable, net	470

Inventories	8,822
Other current assets	294
Property and equipment	1,174
Goodwill (1)	59,645
Intangible assets	2,835
Other non-current assets	36
Current liabilities	(1,659)


Aggregate purchase price	$	79,537

(1)Substantially all of the goodwill is expected to be deductible for U.S. income tax purposes.

Unaudited Pro Forma Financial Information

The results of operations for the AFF Acquisition and the 2021 Pawn Acquisitions have been consolidated since the respective acquisition dates. During 2021, revenue from AFF and the 2021 Pawn Acquisitions was $56.0 million and the net loss from AFF and the 2021 Pawn Acquisitions since the acquisition dates (including $11.9 million of transaction costs, net of tax) was approximately $41.0 million. Transaction costs associated with the AFF Acquisition and the 2021 Pawn Acquisitions were expensed as incurred and are presented in the consolidated statements of income as merger and acquisition expenses. These expenses include investment banking, legal, accounting and other related third-party costs, including preparation for regulatory filings.

The following unaudited pro forma financial information reflects the consolidated results of operations of the Company as if the AFF Acquisition and the 2021 Pawn Acquisitions had occurred on January 1, 2020, after giving effect to certain adjustments (in thousands, except per share amounts):


	Year Ended				Year Ended
	December 31, 2021				December 31, 2020
	As Reported		Pro Forma		As Reported		Pro Forma
Total revenue	$	1,698,965	$	2,305,860	$	1,631,284	$	2,024,055
Net income	124,909		156,257		106,579		60,059

Net income per share:
Basic	$	3.05	$	3.21	$	2.57	$	1.21
Diluted	3.04		3.20		2.56		1.21

The unaudited pro forma results have been adjusted with respect to certain aspects of the AFF Acquisition and 2021 Pawn Acquisitions primarily to reflect:

•depreciation and amortization expense that would have been recognized assuming fair value adjustments to the tangible and intangible assets acquired and liabilities assumed;

•an increase in total indebtedness primarily incurred to finance certain cash payments and transaction costs related to the AFF Acquisition and 2021 Pawn Acquisitions, partially offset by the elimination of AFF’s pre-existing debt that was repaid at closing;

•the inclusion in the year ended December 31, 2020 of $15.4 million in acquisition expenses incurred by the Company (excluded from the year ended December 31, 2021); and

•the exclusion of $44.3 million of loan loss provision expense in the year ended December 31, 2021 resulting from the establishment of the initial allowance for expected lifetime credit losses for non-PCD finance receivables acquired in the AFF Acquisition (see Note 7).

The pro forma financial information has been prepared for informational purposes only and does not include any anticipated synergies or other potential benefits of the AFF Acquisition and 2021 Pawn Acquisitions. It also does not give effect to certain future charges that the Company expects to incur in connection with the AFF Acquisition and 2021 Pawn Acquisitions, including, but not limited to, additional professional fees, legal expenses, severance, retention and other employee-related costs, contract breakage costs and costs related to consolidation of technology systems. The pro forma information is based on the Company’s preliminary valuation analysis of identifiable assets acquired and liabilities assumed and therefore subject to change. Pro forma results do not purport to be indicative of what would have resulted had the acquisitions occurred on the date indicated or what may result in the future.

2020 Pawn Acquisitions

During 2020, the Company acquired 40 pawn stores in Mexico in two separate transactions and 22 pawn stores in the U.S. in two separate transactions. The aggregate purchase price for these acquisitions totaled $43.6 million, net of cash acquired. The aggregate purchase price was composed of $41.4 million in cash paid during 2020 and remaining short-term amounts payable to the sellers of approximately $2.2 million.

Operating Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Operating Leases

OPERATING LEASES

Lessor

Refer to Note 2 to the consolidated financial statements for further information about the Company’s revenue generating activities as a lessor. All of the Company’s lease agreements are considered operating leases.

Lessee

The Company leases the majority of its pawnshop locations and certain administrative offices under operating leases and determines if an arrangement is or contains a lease at inception. Many leases include both lease and non-lease components, 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 December 31, 2021, 2020 and 2019 was 4.1 years, 4.0 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 December 31, 2021, 2020 and 2019 was 6.2%, 7.0% 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, loss of $1.2 million and gain of $0.9 million during the year ended December 31, 2021, 2020 and 2019, respectively, related to the remeasurement of these U.S. dollar denominated operating leases, which is included in loss (gain) on foreign exchange in the accompanying consolidated statements of income.

Lease expense is recognized on a straight-line basis over the lease term, with variable lease expense recognized in the period such payments are incurred. The following table details the components of lease expense included in operating expenses in the consolidated statements of income during the year ended December 31, 2021, 2020 and 2019 (in thousands):


	Year Ended December 31,
	2021		2020		2019
Operating lease expense	$	125,439	$	121,649	$	124,082
Variable lease expense (1)	16,021		14,444		7,775
Total operating lease expense	$	141,460	$	136,093	$	131,857

(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 December 31, 2021 (in thousands):


2022	$	106,197
2023	85,967
2024	62,418
2025	36,743
2026	18,060
Thereafter	23,514
Total	$	332,899
Less amount of lease payments representing interest	(39,163)
Total present value of lease payments	$	293,736

The following table details supplemental cash flow information related to operating leases for the year ended December 31, 2021, 2020 and 2019 (in thousands):


	Year Ended December 31,
	2021		2020		2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	114,463	$	110,965	$	116,448
Leased assets obtained in exchange for new operating lease liabilities	110,531		104,576		71,117

Stockholders' Equity

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

STOCKHOLDERS' EQUITY

On December 16, 2021, FirstCash, Inc. implemented a holding company reorganization, which resulted in FirstCash Holdings, Inc. owning all of the outstanding capital stock of FirstCash, Inc. Following the reorganization, FirstCash Holdings, Inc. became the successor issuer to FirstCash, Inc.

On December 17, 2021, the Company issued 8,046,252 shares of its common stock to former owners of AFF as consideration for the AFF Acquisition. See Note 3 for additional information about the AFF Acquisition.

During 2021, the Company repurchased a total of 688,000 shares of common stock at an aggregate cost of $49.6 million and an average cost per share of $72.10, and during 2020, repurchased 1,427,000 shares of common stock at an aggregate cost of $107.0 million and an average cost per share of $74.96. The Company intends to continue repurchases under its active share repurchase program through open market transactions under trading plans in accordance with Rule 10b5-1 and Rule 10b-18 under the Exchange Act of 1934, as amended, subject to a variety of factors, including, but not limited to, the level of cash balances, credit availability, debt covenant restrictions, general business conditions, regulatory requirements, the market price of the Company’s stock, dividend policy, the availability of alternative investment opportunities, including acquisitions, and the impact of COVID-19.

The following table provides purchases made by the Company of shares of its common stock under each share repurchase program in effect during 2021 (dollars in thousands):


Plan Authorization Date	Plan Completion Date	Dollar Amount Authorized		Shares Purchased in 2021	Dollar Amount Purchased in 2021		Remaining Dollar Amount Authorized For Future Purchases
January 28, 2020	May 4, 2021	$	100,000	318,000	$	21,827	$	—
January 27, 2021	Currently active	100,000		370,000	27,783		72,217
Total				688,000	$	49,610	$	72,217

Total cash dividends paid in 2021 and 2020 were $47.5 million and $44.8 million, respectively. The amount, declaration and payment of cash dividends in the future (quarterly or otherwise) will be made by the Board of Directors, from time to time, subject to the Company’s financial condition, results of operations, business requirements, compliance with legal requirements and debt covenant restrictions.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 18
-Subparagraph (d)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

FAIR VALUE OF FINANCIAL INSTRUMENTS

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

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

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

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

Recurring Fair Value Measurements

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


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

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

As further discussed in Note 3, the Company estimated the preliminary fair value of the Contingent Consideration to be $127.4 million, as of the AFF Acquisition date. The Company revalues the Contingent Consideration to fair value at the end of each reporting period. The estimate of the fair value of Contingent Consideration is determined by applying a Monte Carlo simulation, which includes inputs not observable in the market, such as the risk-free rate, risk-adjusted discount rate, the volatility of the underlying financial metrics and projected financial forecast of AFF over the earn-out period, and therefore represents a Level 3 measurement. Significant increases or decreases in these inputs could result in a significantly lower or higher fair value measurement of the Contingent Consideration.

The changes in financial assets and liabilities that are measured and recorded at fair value on a recurring basis using Level 3 fair value measurements for the year ended December 31, 2021 is as follows (in thousands):


	Contingent Consideration
Contingent Consideration issued December 17, 2021 (see Note 3)	$	127,420
Change in fair value (1)	(17,871)
Balance at December 31, 2021	$	109,549

(1) The Company recognized a $17.9 million gain during 2021 as a result of the change in fair value of the stock price component of Contingent Consideration (see Note 3), which is included in gain on revaluation of contingent acquisition consideration in the accompanying consolidated statements of income. The change in fair value was a result of the increase in the Company’s stock price from $62.83 on December 16, 2021 to $74.81 on December 31, 2021.

There were no transfers in or out of Level 1, 2 or 3 during the year ended December 31, 2021 and 2020, and the Company did not have any financial assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2020.

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 2020, the Company recorded a $1.9 million impairment of other assets and a $1.5 million impairment of property and equipment.

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

The Company’s financial assets and liabilities as of December 31, 2021 and 2020 that are not measured at fair value in the consolidated balance sheets are as follows (in thousands):


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

	$	704,396	$	756,375	$	120,046	$	—	$	636,329

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


	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	$	—	$	—
Accounts receivable, net	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 facility	$	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 accounts receivable, net approximate fair value.

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

The carrying value of the unsecured credit facilities approximate fair value as of December 31, 2021 and 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 the Mexican Central Bank’s interbank equilibrium rate (“TIIE”) and reprice with any changes in LIBOR or TIIE. The fair value of the senior unsecured notes is estimated based on quoted prices in markets that are not active.

- Definition

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

+ References + Details

Finance Receivables, Net

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Finance Receivables, Net

FINANCE RECEIVABLES, NET

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


	As of December 31,
	2021		2020
Finance receivables, gross	$	220,329	$	—
Fair value premium on non-PCD finance receivables (1)	40,251		—
Non-credit discount on PCD finance receivables (2)	(3,521)		—
Merchant partner discounts and premiums, net	(104)		—
Unearned origination fees	(360)		—
Finance receivables, amortized cost	256,595		—
Less allowance for loan losses	75,574		—
Finance receivables, net	$	181,021	$	—

(1)Represents the difference between the initial fair value and the unpaid principal balance as of the date of the AFF Acquisition, which is recognized as interest income on an effective yield basis over the lives of the related non-PCD finance receivables. See Note 3.

(2)Represents the difference between the unpaid principal balance and the amortized cost basis as of the date of the AFF Acquisition, which is recognized through interest income on an effective yield basis over the life of the related PCD finance receivables. See Note 3.

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


	As of December 31,
	2021		2020
Balance at beginning of year	$	—	$	34
Provision for loan losses (1)	48,952		(488)
Initial allowance recognized for PCD loans (2)	32,036		—
Charge-offs	(5,545)		(114)
Recoveries	131		568
Balance at end of year	$	75,574	$	—

(1)For the year ended December 31, 2021, includes $44.3 million as a result of the establishment of the initial allowance for expected lifetime credit losses for non-PCD finance receivables acquired in the AFF Acquisition, which is recorded as provision for loan losses in the consolidated statements of income. See Note 3.

(2)Represents the establishment of the initial allowance for expected lifetime credit losses for PCD finance receivables acquired in the AFF Acquisition, which is added to the acquisition date fair value to establish the initial amortized cost basis of the PCD loans. As this initial allowance for loan losses is added to the acquisition date fair value, there is no provision for loan losses recognized in the consolidated statements of income. See Note 3.

The following is an assessment of the credit quality indicators of the amortized cost of finance receivables as of December 31, 2021, by origination year:


	2021		2020		Total
FICO score category (1):
No FICO score identified or obtained	$	57,536	$	2,537	$	60,073
599 or less	69,703		11,701		81,404
Between 600 and 699	59,121		9,389		68,510
700 or greater	8,637		1,241		9,878
Finance receivables before fair value adjustments	$	194,997	$	24,868	219,865
Fair value premium on non-PCD finance receivables					40,251
Non-credit discount on PCD finance receivables					(3,521)
Finance receivables, amortized cost					$	256,595

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

The following is an aging of the amortized cost of finance receivables as of December 31, 2021, by origination year:


	2021		2020		Total
Delinquency:
1 to 30 days past due	$	16,077	$	2,260	$	18,337
31 to 60 days past due	10,024		1,648		11,672
61 to 90 days past due (1)	7,898		1,478		9,376
Total past due finance receivables before fair value adjustments	33,999		5,386		39,385
Current finance receivables before fair value adjustments	160,998		19,482		180,480
Finance receivables before fair value adjustments	$	194,997	$	24,868	219,865
Fair value premium on non-PCD finance receivables					40,251
Non-credit discount on PCD finance receivables					(3,521)
Finance receivables, amortized cost					$	256,595

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

Leased Merchandise, Net

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Leased Merchandise, Net

LEASED MERCHANDISE, NET

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


	As of December 31,
	2021		2020
Leased merchandise (1)	$	156,280	$	—
Processing fees	(440)		—
Merchant partner discounts and premiums, net	310		—
Accumulated depreciation	(6,764)		—
Leased merchandise, before allowance for lease losses	149,386		—
Allowance for lease losses	5,442		—
Leased merchandise, net	$	143,944	$	—

(1)Acquired leased merchandise in the AFF Acquisition was recorded at fair value. See Note 3.

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


	As of December 31,
	2021		2020
Balance at beginning of year	$	—	$	—
Provision for lease losses (1)	5,442		—
Charge-offs (2)	—		—
Recoveries	—		—
Balance at end of year	$	5,442	$	—

(1)Represents the provision for lease losses on leases originated from December 17, 2021 through December 31, 2021.

(2)Acquired leased merchandise in the AFF Acquisition was recorded at fair value. As a result, leased merchandise charged-off between December 17, 2021 and December 31, 2021 was allocated no fair value. See Note 3

Property and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment consists of the following (in thousands):


	As of December 31,
	2021		2020
Land	$	114,150	$	83,458
Buildings	199,100		150,132
Furniture, fixtures, equipment and improvements	468,118		425,360
	781,368		658,950
Less: accumulated depreciation	(318,842)		(285,283)
Property and equipment, net	$	462,526	$	373,667

Depreciation expense for the years ended December 31, 2021, 2020 and 2019 was $42.5 million, $39.8 million and $39.1 million, respectively.

Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accounts payable and accrued liabilities consist of the following (in thousands):


	As of December 31,
	2021		2020
Acquisition purchase price amounts payable to sellers (1)	$	123,475	$	5,965
Accrued compensation	33,546		21,874
Sales, property, and payroll taxes payable	32,463		24,984
Trade accounts payable	23,077		7,187
Accrued interest payable	9,375		8,121
Benefits liabilities and withholding payable	3,084		2,852

Other accrued liabilities	15,920		10,934
	$	240,940	$	81,917

(1)Includes the present value of the deferred consideration payable to AFF shareholders on December 31, 2022 of $23.9 million and the short-term portion of the estimated fair value of Contingent Consideration of $95.6 million. See Note 3 and Note 6.

Long-Term Debt

12 Months Ended

Dec. 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 December 31,
	2021		2020
Revolving unsecured credit facility, maturing 2024 (1)	$	259,000	$	123,000

Senior unsecured notes:

4.625% senior unsecured notes due 2028 (2)	492,499		492,916
5.625% senior unsecured notes due 2030 (3)	541,405		—

Total senior unsecured notes	1,033,904		492,916

Total long-term debt	$	1,292,904	$	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 December 31, 2021 and 2020, deferred debt issuance costs of $7.5 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.

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

As of December 31, 2021, annual maturities of the outstanding long-term debt for each of the five years after December 31, 2021 are as follows (in thousands):


2022	$	—
2023	—
2024	259,000
2025	—
2026	—
Thereafter	1,050,000
	$	1,309,000

Revolving Unsecured Credit Facility

As of December 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.

On December 8, 2021, the Credit Facility was amended (the “2021 Amendment”) in order to, among other things, permit the AFF Acquisition and amend the domestic and total leverage ratio covenants temporarily as a result of the AFF Acquisition. The domestic leverage ratio increased from 4.5 times to 5.0 times domestic EBITDA, adjusted for certain customary items as more fully set forth in the Credit Facility (“Adjusted Domestic EBITDA”), through December 31, 2021 and then decreases to 4.5 times Adjusted Domestic EBITDA through December 31, 2022. The consolidated leverage ratio was increased from 3.3 to 4.0 times consolidated EBITDA, adjusted for certain customary items as more fully set forth in the Credit Facility (“Adjusted EBITDA”), through December 31, 2021 and then decreases to 3.5 times Adjusted EBITDA through December 31, 2022. The temporary changes to the leverage ratios as provided in the 2021 Amendment will revert to the previously scheduled ratios of 4.0 times Adjusted Domestic EBITDA and 3.0 times Adjusted EBITDA effective January 1, 2023.

As of December 31, 2021, the Company had $259.0 million in outstanding borrowings and $3.2 million in outstanding letters of credit under the Credit Facility, leaving $237.8 million available for future borrowings, subject to certain financial covenants. The Credit Facility is unsecured and bears interest, at the Company’s option, of either (1) the prevailing LIBOR (with interest periods of 1 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 December 31, 2021 was 2.63% 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 December 31, 2021. During 2021, the Company received net proceeds of $136.0 million from borrowings pursuant to the Credit Facility.

Revolving Unsecured Uncommitted Credit Facility

As of December 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 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 December 31, 2021. At December 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 “2028 Notes”), all of which are currently outstanding. Interest on the 2028 Notes is payable semi-annually in arrears on March 1 and September 1, commencing on March 1, 2021. The 2028 Notes were sold in a private placement in reliance on Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The Company used the proceeds from the offering to redeem its outstanding $300.0 million, 5.375% senior notes due 2024 (the “2024 Notes”), to repay a portion of the Credit Facility and to pay for related fees and expenses associated with the offering and the redemption of the 2024 Notes.

The 2028 Notes are fully and unconditionally guaranteed on a senior unsecured basis jointly and severally by all of the Company's existing and future domestic subsidiaries that guarantee its Credit Facility. The 2028 Notes will permit the Company to make restricted payments, such as purchasing shares of its stock and paying cash dividends, in an unlimited amount if, after giving pro forma effect to the incurrence of any indebtedness to make such payment, the Company's consolidated total debt ratio is less than 2.75 to 1. The consolidated total debt ratio is defined generally in the indenture governing the 2028 Notes (the “2028 Notes Indenture”) as the ratio of (1) the total consolidated debt of the Company minus cash and cash equivalents of the Company to (2) the Company’s consolidated trailing twelve months EBITDA, as adjusted to exclude certain non-recurring expenses and giving pro forma effect to operations acquired during the measurement period. As of December 31, 2021, the Company’s consolidated total debt ratio was 3.1 to 1. While the 2028 Notes generally limit the Company’s ability to make restricted payments if the consolidated total debt ratio is greater than 2.75 to 1, restricted payments are allowable within certain permitted baskets, which currently provides the Company with continued flexibility to make restricted payments when the Company’s consolidated total debt ratio is greater than 2.75 to 1.

The Company may redeem some or all of the 2028 Notes at any time on or after September 1, 2023, at the redemption prices set forth in the 2028 Notes Indenture, plus accrued and unpaid interest, if any. In addition, prior to September 1, 2023, the Company may redeem some or all of the 2028 Notes at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, plus a “make-whole” premium set forth in the 2028 Notes Indenture. The Company may redeem up to 40% of the 2028 Notes on or prior to September 1, 2023 with the proceeds of certain equity offerings at the redemption prices set forth in the 2028 Notes Indenture. If the Company sells certain assets or consummates certain change in control transactions, the Company will be required to make an offer to repurchase the 2028 Notes.

Redemption of 2024 Notes

During 2020, the Company redeemed all outstanding 2024 Notes. As a result, the Company recognized a loss on extinguishment of debt of $11.7 million, which includes the redemption premium paid over the outstanding $300.0 million principal amount of the 2024 Notes and other redemption costs of $8.8 million and the write-off of unamortized debt issuance costs of $2.9 million.

Senior Unsecured Notes Due 2030

On December 13, 2021, the Company issued $550.0 million of 5.625% senior unsecured notes due on January 1, 2030 (the “2030 Notes”), all of which are currently outstanding. Interest on the 2030 Notes is payable semi-annually in arrears on January 1 and July 1, commencing on July 1, 2022. The 2030 Notes were sold in a private placement in reliance on Rule 144A and Regulation S under the Securities Act. The Company used the proceeds from the offering to finance the cash consideration of the AFF Acquisition, repay in full the outstanding debt under AFF’s credit facility, to pay fees, costs and expenses incurred in connection with the AFF Acquisition and the offering of the 2030 Notes and the remainder to repay a portion of the borrowings under the Company’s Credit Facility. The Company capitalized approximately $8.6 million in debt issuance costs, which consisted primarily of the initial purchaser’s discount and fees and legal and other professional expenses. The debt issuance costs are being amortized over the life of the 2030 Notes as a component of interest expense and are carried as a direct deduction from the carrying amount of the 2030 Notes in the accompanying consolidated balance sheets.

The 2030 Notes are fully and unconditionally guaranteed on a senior unsecured basis jointly and severally by all of the Company's existing and future domestic subsidiaries that guarantee its Credit Facility. The 2030 Notes will permit the Company to make restricted payments, such as purchasing shares of its stock and paying cash dividends, in an unlimited amount if, after giving pro forma effect to the incurrence of any indebtedness to make such payment, the Company's consolidated total debt ratio is less than 3.0 to 1. The consolidated total debt ratio is defined generally in the indenture governing the 2030 Notes (the “2030 Notes Indenture”) as the ratio of (1) the total consolidated debt of the Company minus cash and cash equivalents of the Company to (2) the Company’s consolidated trailing twelve months EBITDA, as adjusted to exclude certain non-recurring expenses and giving pro forma effect to operations acquired during the measurement period. As of December 31, 2021, the Company’s consolidated total debt ratio was 3.1 to 1. While the 2030 Notes generally limit the Company’s ability to make restricted payments if the consolidated total debt ratio is greater than 3.0 to 1, restricted payments are allowable within certain permitted baskets, which currently provides the Company with continued flexibility to make restricted payments when the Company’s consolidated total debt ratio is greater than 3.0 to 1.

The Company may redeem some or all of the 2030 Notes at any time on or after January 1, 2025, at the redemption prices set forth in the 2030 Notes Indenture, plus accrued and unpaid interest, if any. In addition, prior to January 1, 2025, the Company may redeem some or all of the 2030 Notes at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, plus a “make-whole” premium set forth in the 2030 Notes Indenture. The Company may redeem up to 40% of the 2030 Notes on or prior to January 1, 2025 with the proceeds of certain equity offerings at the redemption prices set forth in the 2030 Notes Indenture. If the Company sells certain assets or consummates certain change in control transactions, the Company will be required to make an offer to repurchase the 2030 Notes.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Components of the provision for income taxes and the income to which it relates for the years ended December 31, 2021, 2020 and 2019 consist of the following (in thousands):


	Year Ended December 31,
	2021		2020		2019
Income before income taxes (1):
Domestic	$	110,535	$	98,111	$	145,570
Foreign	55,967		45,588		79,041
Income before income taxes	$	166,502	$	143,699	$	224,611

Current income taxes:
U.S. Federal	$	14,031	$	14,951	$	26,624
Foreign	15,242		9,909		21,904
U.S. state and local	2,045		2,158		2,553
Current provision for income taxes	31,318		27,018		51,081

Deferred provision (benefit) for income taxes:
U.S. Federal	11,008		4,485		7,498
Foreign	(1,542)		5,287		863
U.S. state and local	809		330		551
Total deferred provision for income taxes	10,275		10,102		8,912

Provision for income taxes	$	41,593	$	37,120	$	59,993

(1)Includes the allocation of certain administrative expenses and intercompany payments, such as royalties and interest, between domestic and foreign subsidiaries.

At December 31, 2021, the cumulative amount of undistributed earnings of foreign subsidiaries was $248.8 million. The Tax Cuts and Jobs Act imposed a mandatory transition tax on accumulated foreign earnings and generally eliminated U.S. federal income taxes on dividends from foreign subsidiaries with the exception of foreign withholding taxes and other foreign local tax. During 2021, the Company repatriated $10.0 million from certain foreign subsidiaries, which was not subject to withholding or federal income tax. It is the Company’s intent to indefinitely reinvest the remaining undistributed earnings and future earnings of these subsidiaries outside the U.S. and, therefore, deferred taxes are not currently recorded on cumulative foreign currency translation adjustments.

The principal deferred tax assets and liabilities consist of the following (in thousands):


	As of December 31,
	2021		2020
Deferred tax assets:
Property and equipment in foreign jurisdictions	$	11,452	$	9,905
Finance receivables	7,421		—
Accrued fees on forfeited pawn loans	6,645		5,246
Deferred cost of goods sold deduction	1,989		3,622
Accrued compensation, payroll taxes and employee benefits	4,294		4,235
U.S. state and certain foreign net operating losses	6,429		5,942
Other	3,811		3,364
Total deferred tax assets	42,041		32,314

Deferred tax liabilities:
Intangible assets	126,283		81,749
Leased merchandise and property and equipment in domestic jurisdictions	24,035		3,759
Net operating lease asset	3,726		4,188
Other	2,052		3,691
Total deferred tax liabilities	156,096		93,387

Net deferred tax liabilities before valuation allowance	(114,055)		(61,073)
Valuation allowance	(6,429)		(5,942)
Net deferred tax liabilities	$	(120,484)	$	(67,015)

Reported as:
Deferred tax assets	$	5,614	$	4,158
Deferred tax liabilities	(126,098)		(71,173)
Net deferred tax liabilities	$	(120,484)	$	(67,015)

The Company has a valuation allowance of $6.4 million and $5.9 million as of December 31, 2021 and 2020, respectively, related to the deferred tax assets associated with its U.S. state and certain foreign net operating losses. The Company has evaluated the nature and timing of its other deferred tax assets and concluded that no additional valuation allowance is necessary.

The following is a reconciliation of income taxes calculated at the U.S. federal statutory rate to the provision for income taxes (dollars in thousands):


	Year Ended December 31,
	2021			2020			2019
U.S. federal statutory rate	21		%	21		%	21		%

Tax at the U.S. federal statutory rate	$	35,149		$	30,177		$	47,168
U.S. state income tax, net of federal tax benefit of $599, $522 and $652, respectively	2,255			1,965			2,452
Net incremental income tax expense from foreign earnings (1)	2,007			5,732			6,314
Non-deductible compensation expense	1,943			1,050			2,074
Global intangible low-taxed income tax	—			(1,863)			1,100

Other taxes and adjustments, net	239			59			885
Provision for income taxes	$	41,593		$	37,120		$	59,993

Effective tax rate	25.0		%	25.8		%	26.7		%

(1)Includes a $6.3 million, $2.0 million and $2.3 million foreign permanent tax benefit related to an inflation index adjustment allowed under Mexico tax law for the years ended December 31, 2021, 2020 and 2019, respectively.

The Company’s foreign operating subsidiaries are owned by a wholly-owned subsidiary located in the Netherlands. The foreign operating subsidiaries are subject to their respective foreign statutory rates, which differ from the U.S. federal statutory rate. The statutory tax rates in Mexico, Guatemala, Colombia and El Salvador are 30%, 25%, 31% and 30%, respectively. The statutory tax rate in the Netherlands is 0% on eligible dividends received from its foreign subsidiaries.

The Company reviews the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. Interest and penalties related to income tax liabilities that could arise would be classified as interest expense in the Company’s consolidated statements of income.

As of December 31, 2021 and 2020, the Company had no unrecognized tax benefits and, therefore, the Company did not have a liability for accrued interest and penalties and no such interest or penalties were incurred for the years ended December 31, 2021, 2020 and 2019.

The Company files federal income tax returns in the U.S., Mexico, Guatemala, Colombia, El Salvador and the Netherlands, as well as multiple state and local income tax returns in the U.S. The Company’s U.S. federal returns are not subject to examination for tax years prior to 2017. The majority of the Company’s U.S. state income tax returns are not subject to examination for the tax years prior to 2018. With respect to federal tax returns in Mexico, Guatemala, Colombia, El Salvador and the Netherlands, the tax years prior to 2016 are closed to examination. There are no state income taxes in Mexico, Guatemala, Colombia, El Salvador or the Netherlands.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Litigation The Company, in the ordinary course of business, is a defendant (actual or threatened) in certain lawsuits, arbitration proceedings and other general claims. In management’s opinion, any potential adverse result should not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. On January 14, 2022, plaintiff Genesee County Employees’ Retirement System filed a putative shareholder securities class action lawsuit (the “Litigation”) in the United States District Court for the Northern District of Texas against the Company and certain of its current officers styled Genesee County Employees’ Retirement System v. FirstCash Holdings, Inc., et al., Civil Action No. 4:22-CV-00033-P (N.D. Tex.). The complaint alleges that the defendants made materially false and/or misleading statements that caused losses to investors. The complaint further alleges that the defendants failed to disclose in public statements that the Company engaged in widespread and systemic violations of the Military Lending Act (“MLA”). The Litigation does not quantify any alleged damages, but, in addition to attorneys’ fees and costs, it seeks to recover damages on behalf of the plaintiff and other persons who purchased or otherwise acquired Company stock during the putative class period from February 1, 2018 through November 12, 2021 at allegedly inflated prices and purportedly suffered financial harm as a result. The Company disputes these allegations and intends to defend the Litigation vigorously. At this stage, the Company is unable to determine whether a future loss will be incurred due to this Litigation, or estimate a range of loss, if any, and accordingly, no amounts have been accrued in the Company’s financial statements. On November 12, 2021, the Consumer Financial Protection Bureau (“CFPB”) initiated a civil action in the United States District Court for the Northern District of Texas against FirstCash, Inc. and Cash America West, Inc., two of the Company’s subsidiaries, alleging violations of the MLA. The CFPB also alleges that the Company violated a 2013 CFPB order against its predecessor company that, among other things, required the company to cease and desist from further MLA violations. The CFPB is seeking an injunction, redress for affected borrowers and a civil monetary penalty. While the Company intends to vigorously defend itself against the allegations in the case, the Company cannot predict or determine the timing or final outcome of this matter, or the effect that any adverse determinations the lawsuit may have on it. On November 7, 2018, plaintiffs Maria Andrade and Shaun Caulkins filed a class action complaint (the “Andrade Compliant”) in the United States District Court for the Northern District of California against AFF. In the Andrade Complaint, the plaintiffs allege that AFF partnered with California merchants to deceive California customers into taking out usurious loans made from AFF, an unlicensed lender. Based on these allegations, the plaintiffs assert claims on behalf of themselves and a class of all California residents who purchased consumer goods or services from AFF’s partner retail businesses. Plaintiffs seek, among other things, a declaration that AFF’s security agreements are void and uncollectible, restitution of all amounts collected from class members, actual damages, statutory damages, and attorneys’ fees. Plaintiff Caulkins’ claims were dismissed in October 2020 and co-defendants were dismissed from the complaint in August 2021. The class certification motion hearing is set for June 13, 2022. At this time, the Company cannot predict or determine the timing or final outcome of the Andrade Complaint or the effect that any adverse determinations the lawsuit may have on it. On October 20, 2021, plaintiff Larry Facio filed a class action complaint in the United States District Court for the Northern District of California against AFF. In his compliant, the plaintiff alleges that AFF partnered with California merchants to deceive California customers into taking out usurious loans made from AFF, an unlicensed lender. The complaint mirrors that of the previously filed Andrade Complaint, in which Facio would be an eligible class member if a class becomes certified. The case has been stayed pending resolution of the Andrade Complaint. Accordingly, the Company cannot predict or determine the timing or final outcome of this matter or the effect that any adverse determinations the lawsuit may have on it. Gold Forward Sales Contracts As of December 31, 2021, the Company had contractual commitments to deliver a total of 7,500 gold ounces during the month of January 2022 at a weighted-average price of $1,807 per ounce. The ounces required to be delivered were on hand as of December 31, 2021.

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

Changes in the carrying value of goodwill by segment were as follows (in thousands):


December 31, 2021	U.S. Pawn Segment		Latin America Pawn Segment		Retail POS Payment Solutions Segment		Total
Balance, beginning of year	$	802,148	$	175,233	$	—	$	977,381
Acquisitions (see Note 3)	59,645		—		503,106		562,751

Effect of foreign currency translation	—		(3,954)		—		(3,954)

Balance, end of year	$	861,793	$	171,279	$	503,106	$	1,536,178

December 31, 2020
Balance, beginning of year	$	771,311	$	177,332	$	—	$	948,643
Acquisitions (see Note 3)	28,978		4,456		—		33,434

Effect of foreign currency translation	—		(6,505)		—		(6,505)
Other adjustments	1,859		(50)		—		1,809
Balance, end of year	$	802,148	$	175,233	$	—	$	977,381

The Company performed its annual assessment of goodwill and determined there was no impairment as of December 31, 2021 and 2020.

Definite-Lived Intangible Assets

The following table summarizes the components of gross and net definite-lived intangible assets subject to amortization (in thousands):


	As of December 31,
	2021						2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Merchant relationships	$	194,000	$	(962)	$	193,038	$	—	$	—	$	—
Developed technology	99,400		(828)		98,572		—		—		—
Customer relationships	26,111		(25,174)		937		25,782		(23,918)		1,864
AFF trade name	10,200		(213)		9,987		—		—		—
Lessee relationships	1,500		(48)		1,452		—		—		—
	$	331,211	$	(27,225)	$	303,986	$	25,782	$	(23,918)	$	1,864

Merchant relationships and customer relationships are generally amortized using an accelerated amortization method that reflects the future cash flows expected from the existing AFF merchants and returning pawn customers.

The following table details the remaining weighted-average amortization periods for the definite-lived intangible assets included in the table above:


			Weighted-Average Remaining Amortization Period (Years)
As of December 31, 2021
Merchant relationships			3.3
Developed technology			2.5
Customer relationships			1.6
Trade name			1.0
Lessee relationships			0.7
Total definite-lived intangible assets			3.0

Amortization expense for definite-lived intangible assets was $3.4 million, $2.3 million and $2.9 million for the years ended December 31, 2021, 2020 and 2019, respectively. Estimated future amortization expense is as follows (in thousands):


2022	$	57,074
2023	56,914
2024	49,842
2025	48,188
2026	45,250
Thereafter	46,718
	$	303,986

Indefinite-Lived Intangible Assets

Indefinite-lived intangible assets as of December 31, 2021 and 2020 consist of the following (in thousands):


	As of December 31,
	2021		2020
Trade names	$	46,300	$	46,300
Pawn licenses (1)	36,648		34,237
Other indefinite-lived intangibles	1,250		1,250
	$	84,198	$	81,787

(1)Costs to renew licenses with indefinite lives are expensed as incurred and recorded in operating expenses in the consolidated statements of income.

The Company performed its annual assessment of indefinite-lived intangible assets and determined there was no impairment as of December 31, 2021 and 2020.

Segment and Geographic Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment and Geographic Information

SEGMENT AND GEOGRAPHIC INFORMATION

Segment Information

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

•U.S. pawn

•Latin America pawn

•Retail POS payment solutions (AFF)

Corporate expenses and income, which include administrative expenses, corporate depreciation and amortization, interest expense, interest income, merger and acquisition expenses and loss (gain) on foreign exchange, write-offs of certain lease intangibles and impairments of certain other assets, are presented on a consolidated basis and are not allocated between the U.S. pawn segment, Latin America pawn segment and retail POS payment solutions segment.

The following tables present reportable segment information for the years ended December 31, 2021, 2020 and 2019 as well as separately identified segment assets (in thousands):


	Year Ended December 31, 2021
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate		Consolidated
Revenue:
Retail merchandise sales	$	742,374	$	391,875	$	—	$	—	$	1,134,249
Pawn loan fees	305,350		170,432		—		—		475,782
Leased merchandise income	—		—		22,720		—		22,720
Interest and fees on finance receivables	—		—		9,024		—		9,024
Wholesale scrap jewelry sales	27,163		30,027		—		—		57,190
Total revenue	1,074,887		592,334		31,744		—		1,698,965

Cost of revenue:
Cost of retail merchandise sold	416,039		247,425		—		—		663,464
Depreciation of leased merchandise	—		—		12,826		—		12,826
Provision for lease losses	—		—		5,442		—		5,442
Provision for loan losses	—		—		48,952		—		48,952
Cost of wholesale scrap jewelry sold	22,886		26,243		—		—		49,129
Total cost of revenue	438,925		273,668		67,220		—		779,813

Net revenue (loss)	635,962		318,666		(35,476)		—		919,152

Expenses and other income:
Store operating expenses	380,895		179,020		4,917		—		564,832
Administrative expenses	—		—		—		111,259		111,259
Depreciation and amortization	22,234		17,834		122		5,716		45,906
Interest expense	—		—		—		32,386		32,386
Interest income	—		—		—		(696)		(696)
Loss on foreign exchange	—		—		—		436		436
Merger and acquisition expenses	—		—		—		15,449		15,449
Gain on revaluation of contingent acquisition consideration	—		—		—		(17,871)		(17,871)
Impairments and dispositions of certain other assets	—		—		—		949		949


Total expenses and other income	403,129		196,854		5,039		147,628		752,650

Income (loss) before income taxes	$	232,833	$	121,812	$	(40,515)	$	(147,628)	$	166,502


	As of December 31, 2021
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate		Consolidated
Pawn loans	$	256,311	$	91,662	$	—	$	—	$	347,973
Finance receivables, net	—		—		181,021		—		181,021
Inventories	197,486		65,825		—		—		263,311
Leased merchandise, net	—		—		143,944		—		143,944
Goodwill	861,793		171,279		503,106		—		1,536,178
Total assets	1,944,487		562,661		1,178,729		150,575		3,836,452


	Year Ended December 31, 2020
	U.S. Pawn		Latin America Pawn		Corporate		Consolidated
Revenue:
Retail merchandise sales	$	720,281	$	355,237	$	—	$	1,075,518
Pawn loan fees	310,437		147,080		—		457,517

Interest and fees on finance receivables (1)	2,016		—		—		2,016
Wholesale scrap jewelry sales	45,405		50,828		—		96,233
Total revenue	1,078,139		553,145		—		1,631,284

Cost of revenue:
Cost of retail merchandise sold	415,938		225,149		—		641,087


Provision for loan losses (1)	(488)		—		—		(488)
Cost of wholesale scrap jewelry sold	39,584		39,962		—		79,546
Total cost of revenue	455,034		265,111		—		720,145

Net revenue	623,105		288,034		—		911,139

Expenses and other income:
Store operating expenses	396,627		165,531		—		562,158
Administrative expenses	—		—		110,931		110,931
Depreciation and amortization	21,743		15,816		4,546		42,105
Interest expense	—		—		29,344		29,344
Interest income	—		—		(1,540)		(1,540)
Loss on foreign exchange	—		—		884		884
Merger and acquisition expenses	—		—		1,316		1,316

Impairments and dispositions of certain other assets	—		—		10,505		10,505
Loss on extinguishment of debt	—		—		11,737		11,737

Total expenses and other income	418,370		181,347		167,723		767,440

Income (loss) before income taxes	$	204,735	$	106,687	$	(167,723)	$	143,699

(1)Effective June 30, 2020, the Company’s U.S. pawn segment ceased offering an unsecured consumer loan product in the U.S.


	As of December 31, 2020
	U.S. Pawn		Latin America Pawn		Corporate		Consolidated
Pawn loans	$	220,391	$	87,840	$	—	$	308,231

Inventories	136,109		54,243		—		190,352

Goodwill	802,148		175,233		—		977,381
Total assets	1,718,975		540,473		112,749		2,372,197


	Year Ended December 31, 2019
	U.S. Pawn		Latin America Pawn		Corporate		Consolidated
Revenue:
Retail merchandise sales	$	722,127	$	453,434	$	—	$	1,175,561
Pawn loan fees	379,395		185,429		—		564,824

Interest and fees on finance receivables	20,178		—		—		20,178
Wholesale scrap jewelry sales	71,813		32,063		—		103,876
Total revenue	1,193,513		670,926		—		1,864,439

Cost of revenue:
Cost of retail merchandise sold	447,911		297,950		—		745,861


Provision for loan losses	4,159		—		—		4,159
Cost of wholesale scrap jewelry sold	65,941		30,131		—		96,072
Total cost of revenue	518,011		328,081		—		846,092

Net revenue	675,502		342,845		—		1,018,347

Expenses and other income:
Store operating expenses	412,508		183,031		—		595,539
Administrative expenses	—		—		122,334		122,334
Depreciation and amortization	20,860		14,626		6,418		41,904
Interest expense	—		—		34,035		34,035
Interest income	—		—		(1,055)		(1,055)
Gain on foreign exchange	—		—		(787)		(787)
Merger and acquisition expenses	—		—		1,766		1,766




Total expenses and other income	433,368		197,657		162,711		793,736

Income (loss) before income taxes	$	242,134	$	145,188	$	(162,711)	$	224,611


	As of December 31, 2019
	U.S. Pawn		Latin America Pawn		Corporate		Consolidated
Pawn loans	$	268,793	$	100,734	$	—	$	369,527
Consumer loans, net	751		—		—		751

Inventories	181,320		83,936		—		265,256

Goodwill	771,311		177,332		—		948,643
Total assets	1,767,504		574,059		97,877		2,439,440

Geographic Information

The following table shows revenue and long-lived assets (all non-current assets except operating lease right of use asset, goodwill, intangibles, net and deferred tax assets) by geographic area (in thousands):


	Year Ended December 31,
	2021		2020		2019
Revenue:
U.S.	$	1,106,631	$	1,078,139	$	1,193,513
Mexico	562,493		530,462		641,505
Other Latin America	29,841		22,683		29,421
	$	1,698,965	$	1,631,284	$	1,864,439

Long-lived assets:
U.S.	$	373,218	$	286,079	$	254,395
Mexico	84,648		82,438		80,385
Other Latin America	13,191		14,968		12,893
	$	471,057	$	383,485	$	347,673

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

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

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Principles of consolidation

Cash and cash equivalents

Customer loans and revenue recognition

Foreign currency transactions

Store operating expenses

Property and equipment

Business combinations

Goodwill and other indefinite-lived intangible assets

Goodwill and other indefinite-lived intangible assets - Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in each business combination. The Company performs its goodwill impairment assessment annually as of December 31, and between annual assessments if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company’s reporting units, which are tested for impairment, are U.S. pawn, Latin America pawn and retail POS payment solutions. The Company assesses goodwill for impairment at a reporting unit level by first assessing a range of qualitative factors, including, but not limited to, macroeconomic conditions, industry conditions, the competitive environment, changes in the market for the Company’s products and services, regulatory and political developments, entity specific factors, such as strategy and changes in key personnel, and overall financial performance. If, after completing this assessment, it is determined that it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company proceeds to the impairment testing methodology. See Note 14.The Company’s other material indefinite-lived intangible assets consist of certain trade names and pawn licenses. The Company performs its indefinite-lived intangible asset impairment assessment annually as of December 31, and between annual assessments if an event occurs or circumstances change that would more likely than not reduce the fair value of an indefinite-lived intangible asset below its carrying amount. See Note 14.Merger and acquisition expenses - The Company incurs incremental costs directly associated with merger and acquisition activity, including, but not limited to, professional fees, legal expenses, severance, retention and other employee-related costs, contract breakage costs and costs related to consolidation of technology systems and corporate facilities. The Company presents merger and acquisition expenses separately in the consolidated statements of income to identify these incremental activities apart from the expenses incurred to operate the business.

Long-lived assets

Fair value of financial instruments

Income taxes

Advertising

Share-based compensation

Share-based compensation - All share-based payments to employees and directors are recognized in the financial statements based on the grant date or if applicable, the subsequent modification date fair value. The Company recognizes compensation cost net of estimated forfeitures and recognizes the compensation cost for only those awards expected to vest on a straight-line basis over the requisite service period of the award, which is generally the vesting term. The Company records share-based compensation cost as an administrative expense. See Note 15.Forward sales commitments - The Company periodically uses forward sale agreements with a major gold bullion bank to sell a portion of the expected amount of scrap gold, which is typically jewelry that is broken or of low retail value, produced in the normal course of business from its liquidation of such merchandise. These commitments qualify for an exemption from derivative accounting as normal sales, based on historical terms, conditions and quantities, and are therefore not recorded on the Company's balance sheet.

Earnings per share

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


	Year Ended December 31,
	2021		2020		2019
Numerator:
Net income	$	124,909	$	106,579	$	164,618

Denominator:
Weighted-average common shares for calculating basic earnings per share	40,975		41,502		43,020
Effect of dilutive securities:
Stock options and restricted stock unit awards	49		98		188
Weighted-average common shares for calculating diluted earnings per share	41,024		41,600		43,208

Earnings per share:
Basic	$	3.05	$	2.57	$	3.83
Diluted	3.04		2.56		3.81

Use of estimates

Reclassifications

Recent accounting pronouncements

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Calculation of Numerator and Denominator in EPS

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


	Year Ended December 31,
	2021		2020		2019
Numerator:
Net income	$	124,909	$	106,579	$	164,618

Denominator:
Weighted-average common shares for calculating basic earnings per share	40,975		41,502		43,020
Effect of dilutive securities:
Stock options and restricted stock unit awards	49		98		188
Weighted-average common shares for calculating diluted earnings per share	41,024		41,600		43,208

Earnings per share:
Basic	$	3.05	$	2.57	$	3.83
Diluted	3.04		2.56		3.81

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Schedule of Consideration Transferred

The following table summarizes the consideration transferred in connection with the AFF Acquisition, net of cash acquired (in thousands except share and per share amounts):


	AFF Acquisition
Shares of FirstCash Holdings, Inc. common stock issued	8,046,252
Closing common stock price per share at December 16, 2021	$	62.83
Stock consideration	$	505,546
Cash consideration paid to AFF shareholders at closing	253,087
Cash consideration paid to extinguish AFF pre-existing debt	257,278
Present value of deferred consideration payable to AFF shareholders on December 31, 2022	23,873
Estimated fair value of Contingent Consideration (see Note 6)	127,420
Less cash acquired	(48,263)
Aggregate purchase consideration	$	1,118,941

Schedule of Preliminary Allocations of Purchase Price

The allocation of the aggregate purchase consideration, net of cash acquired and subject to future measurement period adjustments, is as follows (in thousands):


	AFF Acquisition
Accounts receivable	$	11,660
Finance receivables (1)	225,261
Leased merchandise	139,649
Prepaid expenses and other current assets	4,474
Property and equipment	11,670
Operating lease right of use asset	491
Goodwill (2)	503,106
Intangible assets (3)	305,100
Accounts payable and accrued liabilities	(28,357)
Customer deposits and prepayments	(11,014)
Lease liability, current	(10)
Deferred tax liabilities	(42,608)
Lease liability, non-current	(481)
Purchase price	$	1,118,941

The preliminary allocation of the aggregate purchase price for these individually immaterial pawn store acquisitions during 2021 (the “2021 Pawn Acquisitions”) is as follows (in thousands):


	2021 Pawn Acquisitions
Pawn loans	$	7,920
Accounts receivable, net	470

Inventories	8,822
Other current assets	294
Property and equipment	1,174
Goodwill (1)	59,645
Intangible assets	2,835
Other non-current assets	36
Current liabilities	(1,659)


Aggregate purchase price	$	79,537

(1)Substantially all of the goodwill is expected to be deductible for U.S. income tax purposes.

Financing Receivables, Fair Value

A reconciliation of the difference between the fair value of the PCD finance receivables and the unpaid principal balance as of the date of the acquisition is as follows (in thousands):


	PCD Finance Receivables
Unpaid principal balance of PCD finance receivables	$	41,900
Non-credit discount	(4,120)
Amortized cost of PCD finance receivables	37,780
Less allowance for loan losses recognized for PCD finance receivables	32,036
Fair value of PCD finance receivables	$	5,744

A reconciliation of the difference between the fair value of the non-PCD finance receivables and the unpaid principal balance as of the date of the acquisition is as follows (in thousands):


	Non-PCD Finance Receivables
Unpaid principal balance of non-PCD finance receivables	$	177,456
Fair value premium	42,061
Fair value of non-PCD finance receivables	219,517
Less allowance for loan losses recognized for non-PCD finance receivables	44,250
Carrying value of non-PCD finance receivables	$	175,267

Schedule of Finite-Lived Intangible Assets

Intangible assets acquired and the respective useful lives assigned consist of the following (in thousands, except useful life):


			Useful Life
	AFF Acquisition		(In Years)
Merchant relationships	$	194,000	7
Developed technology	99,400		5
Trade name	10,200		2
Relationships with existing lessees	1,500		1

Total intangible assets	$	305,100

The following table details the remaining weighted-average amortization periods for the definite-lived intangible assets included in the table above:


			Weighted-Average Remaining Amortization Period (Years)
As of December 31, 2021
Merchant relationships			3.3
Developed technology			2.5
Customer relationships			1.6
Trade name			1.0
Lessee relationships			0.7
Total definite-lived intangible assets			3.0

Business Acquisition, Pro Forma Information


	Year Ended				Year Ended
	December 31, 2021				December 31, 2020
	As Reported		Pro Forma		As Reported		Pro Forma
Total revenue	$	1,698,965	$	2,305,860	$	1,631,284	$	2,024,055
Net income	124,909		156,257		106,579		60,059

Net income per share:
Basic	$	3.05	$	3.21	$	2.57	$	1.21
Diluted	3.04		3.20		2.56		1.21

Operating Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of Lease Expense and Supplemental Cash Flow Information

The following table details the components of lease expense included in operating expenses in the consolidated statements of income during the year ended December 31, 2021, 2020 and 2019 (in thousands):


	Year Ended December 31,
	2021		2020		2019
Operating lease expense	$	125,439	$	121,649	$	124,082
Variable lease expense (1)	16,021		14,444		7,775
Total operating lease expense	$	141,460	$	136,093	$	131,857

(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 year ended December 31, 2021, 2020 and 2019 (in thousands):


	Year Ended December 31,
	2021		2020		2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	114,463	$	110,965	$	116,448
Leased assets obtained in exchange for new operating lease liabilities	110,531		104,576		71,117

Schedule of Maturity of Lease Liabilities

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


2022	$	106,197
2023	85,967
2024	62,418
2025	36,743
2026	18,060
Thereafter	23,514
Total	$	332,899
Less amount of lease payments representing interest	(39,163)
Total present value of lease payments	$	293,736

Stockholders' Equity Equity (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Class of Treasury Stock

The following table provides purchases made by the Company of shares of its common stock under each share repurchase program in effect during 2021 (dollars in thousands):


Plan Authorization Date	Plan Completion Date	Dollar Amount Authorized		Shares Purchased in 2021	Dollar Amount Purchased in 2021		Remaining Dollar Amount Authorized For Future Purchases
January 28, 2020	May 4, 2021	$	100,000	318,000	$	21,827	$	—
January 27, 2021	Currently active	100,000		370,000	27,783		72,217
Total				688,000	$	49,610	$	72,217

Fair Value of Financial Instruments Fair Value, Assets Measured on Recurring Basis (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

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

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


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

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


	Contingent Consideration
Contingent Consideration issued December 17, 2021 (see Note 3)	$	127,420
Change in fair value (1)	(17,871)
Balance at December 31, 2021	$	109,549

Fair Value, by Balance Sheet Grouping

The Company’s financial assets and liabilities as of December 31, 2021 and 2020 that are not measured at fair value in the consolidated balance sheets are as follows (in thousands):


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

	$	704,396	$	756,375	$	120,046	$	—	$	636,329

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


	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	$	—	$	—
Accounts receivable, net	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 facility	$	123,000	$	123,000	$	—	$	123,000	$	—
Senior unsecured notes (outstanding principal)	500,000		516,000		—		516,000		—
	$	623,000	$	639,000	$	—	$	639,000	$	—

Finance Receivables, Net (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of Finance Receivables, Net

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


	As of December 31,
	2021		2020
Finance receivables, gross	$	220,329	$	—
Fair value premium on non-PCD finance receivables (1)	40,251		—
Non-credit discount on PCD finance receivables (2)	(3,521)		—
Merchant partner discounts and premiums, net	(104)		—
Unearned origination fees	(360)		—
Finance receivables, amortized cost	256,595		—
Less allowance for loan losses	75,574		—
Finance receivables, net	$	181,021	$	—

Schedule of Allowance for Credit Losses

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


	As of December 31,
	2021		2020
Balance at beginning of year	$	—	$	34
Provision for loan losses (1)	48,952		(488)
Initial allowance recognized for PCD loans (2)	32,036		—
Charge-offs	(5,545)		(114)
Recoveries	131		568
Balance at end of year	$	75,574	$	—

Schedule of Finance Receivables Credit Quality Indicators

The following is an assessment of the credit quality indicators of the amortized cost of finance receivables as of December 31, 2021, by origination year:


	2021		2020		Total
FICO score category (1):
No FICO score identified or obtained	$	57,536	$	2,537	$	60,073
599 or less	69,703		11,701		81,404
Between 600 and 699	59,121		9,389		68,510
700 or greater	8,637		1,241		9,878
Finance receivables before fair value adjustments	$	194,997	$	24,868	219,865
Fair value premium on non-PCD finance receivables					40,251
Non-credit discount on PCD finance receivables					(3,521)
Finance receivables, amortized cost					$	256,595

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

Financing Receivable, Past Due

The following is an aging of the amortized cost of finance receivables as of December 31, 2021, by origination year:


	2021		2020		Total
Delinquency:
1 to 30 days past due	$	16,077	$	2,260	$	18,337
31 to 60 days past due	10,024		1,648		11,672
61 to 90 days past due (1)	7,898		1,478		9,376
Total past due finance receivables before fair value adjustments	33,999		5,386		39,385
Current finance receivables before fair value adjustments	160,998		19,482		180,480
Finance receivables before fair value adjustments	$	194,997	$	24,868	219,865
Fair value premium on non-PCD finance receivables					40,251
Non-credit discount on PCD finance receivables					(3,521)
Finance receivables, amortized cost					$	256,595

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

Leased Merchandise, Net (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Leased Merchandise, Net

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


	As of December 31,
	2021		2020
Leased merchandise (1)	$	156,280	$	—
Processing fees	(440)		—
Merchant partner discounts and premiums, net	310		—
Accumulated depreciation	(6,764)		—
Leased merchandise, before allowance for lease losses	149,386		—
Allowance for lease losses	5,442		—
Leased merchandise, net	$	143,944	$	—

(1)Acquired leased merchandise in the AFF Acquisition was recorded at fair value. See Note 3.

Leased Merchandise, Allowance for Credit Loss

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


	As of December 31,
	2021		2020
Balance at beginning of year	$	—	$	—
Provision for lease losses (1)	5,442		—
Charge-offs (2)	—		—
Recoveries	—		—
Balance at end of year	$	5,442	$	—

(1)Represents the provision for lease losses on leases originated from December 17, 2021 through December 31, 2021.

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consists of the following (in thousands):


	As of December 31,
	2021		2020
Land	$	114,150	$	83,458
Buildings	199,100		150,132
Furniture, fixtures, equipment and improvements	468,118		425,360
	781,368		658,950
Less: accumulated depreciation	(318,842)		(285,283)
Property and equipment, net	$	462,526	$	373,667

Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consist of the following (in thousands):


	As of December 31,
	2021		2020
Acquisition purchase price amounts payable to sellers (1)	$	123,475	$	5,965
Accrued compensation	33,546		21,874
Sales, property, and payroll taxes payable	32,463		24,984
Trade accounts payable	23,077		7,187
Accrued interest payable	9,375		8,121
Benefits liabilities and withholding payable	3,084		2,852

Other accrued liabilities	15,920		10,934
	$	240,940	$	81,917

Long-Term Debt (Tables)

12 Months Ended

Dec. 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 December 31,
	2021		2020
Revolving unsecured credit facility, maturing 2024 (1)	$	259,000	$	123,000

Senior unsecured notes:

4.625% senior unsecured notes due 2028 (2)	492,499		492,916
5.625% senior unsecured notes due 2030 (3)	541,405		—

Total senior unsecured notes	1,033,904		492,916

Total long-term debt	$	1,292,904	$	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.

Schedule of Maturities of Long-term Debt

As of December 31, 2021, annual maturities of the outstanding long-term debt for each of the five years after December 31, 2021 are as follows (in thousands):


2022	$	—
2023	—
2024	259,000
2025	—
2026	—
Thereafter	1,050,000
	$	1,309,000

- Definition

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

+ References

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+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Components of the provision for income taxes and the income to which it relates for the years ended December 31, 2021, 2020 and 2019 consist of the following (in thousands):


	Year Ended December 31,
	2021		2020		2019
Income before income taxes (1):
Domestic	$	110,535	$	98,111	$	145,570
Foreign	55,967		45,588		79,041
Income before income taxes	$	166,502	$	143,699	$	224,611

Current income taxes:
U.S. Federal	$	14,031	$	14,951	$	26,624
Foreign	15,242		9,909		21,904
U.S. state and local	2,045		2,158		2,553
Current provision for income taxes	31,318		27,018		51,081

Deferred provision (benefit) for income taxes:
U.S. Federal	11,008		4,485		7,498
Foreign	(1,542)		5,287		863
U.S. state and local	809		330		551
Total deferred provision for income taxes	10,275		10,102		8,912

Provision for income taxes	$	41,593	$	37,120	$	59,993

(1)Includes the allocation of certain administrative expenses and intercompany payments, such as royalties and interest, between domestic and foreign subsidiaries.

Schedule of Deferred Tax Assets and Liabilities

The principal deferred tax assets and liabilities consist of the following (in thousands):


	As of December 31,
	2021		2020
Deferred tax assets:
Property and equipment in foreign jurisdictions	$	11,452	$	9,905
Finance receivables	7,421		—
Accrued fees on forfeited pawn loans	6,645		5,246
Deferred cost of goods sold deduction	1,989		3,622
Accrued compensation, payroll taxes and employee benefits	4,294		4,235
U.S. state and certain foreign net operating losses	6,429		5,942
Other	3,811		3,364
Total deferred tax assets	42,041		32,314

Deferred tax liabilities:
Intangible assets	126,283		81,749
Leased merchandise and property and equipment in domestic jurisdictions	24,035		3,759
Net operating lease asset	3,726		4,188
Other	2,052		3,691
Total deferred tax liabilities	156,096		93,387

Net deferred tax liabilities before valuation allowance	(114,055)		(61,073)
Valuation allowance	(6,429)		(5,942)
Net deferred tax liabilities	$	(120,484)	$	(67,015)

Reported as:
Deferred tax assets	$	5,614	$	4,158
Deferred tax liabilities	(126,098)		(71,173)
Net deferred tax liabilities	$	(120,484)	$	(67,015)

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of income taxes calculated at the U.S. federal statutory rate to the provision for income taxes (dollars in thousands):


	Year Ended December 31,
	2021			2020			2019
U.S. federal statutory rate	21		%	21		%	21		%

Tax at the U.S. federal statutory rate	$	35,149		$	30,177		$	47,168
U.S. state income tax, net of federal tax benefit of $599, $522 and $652, respectively	2,255			1,965			2,452
Net incremental income tax expense from foreign earnings (1)	2,007			5,732			6,314
Non-deductible compensation expense	1,943			1,050			2,074
Global intangible low-taxed income tax	—			(1,863)			1,100

Other taxes and adjustments, net	239			59			885
Provision for income taxes	$	41,593		$	37,120		$	59,993

Effective tax rate	25.0		%	25.8		%	26.7		%

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill Rollforward

Changes in the carrying value of goodwill by segment were as follows (in thousands):


December 31, 2021	U.S. Pawn Segment		Latin America Pawn Segment		Retail POS Payment Solutions Segment		Total
Balance, beginning of year	$	802,148	$	175,233	$	—	$	977,381
Acquisitions (see Note 3)	59,645		—		503,106		562,751

Effect of foreign currency translation	—		(3,954)		—		(3,954)

Balance, end of year	$	861,793	$	171,279	$	503,106	$	1,536,178

December 31, 2020
Balance, beginning of year	$	771,311	$	177,332	$	—	$	948,643
Acquisitions (see Note 3)	28,978		4,456		—		33,434

Effect of foreign currency translation	—		(6,505)		—		(6,505)
Other adjustments	1,859		(50)		—		1,809
Balance, end of year	$	802,148	$	175,233	$	—	$	977,381

Definite Lived Intangible Assets Amortization

The following table summarizes the components of gross and net definite-lived intangible assets subject to amortization (in thousands):


	As of December 31,
	2021						2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Merchant relationships	$	194,000	$	(962)	$	193,038	$	—	$	—	$	—
Developed technology	99,400		(828)		98,572		—		—		—
Customer relationships	26,111		(25,174)		937		25,782		(23,918)		1,864
AFF trade name	10,200		(213)		9,987		—		—		—
Lessee relationships	1,500		(48)		1,452		—		—		—
	$	331,211	$	(27,225)	$	303,986	$	25,782	$	(23,918)	$	1,864

Schedule of Finite-Lived Intangible Assets

Intangible assets acquired and the respective useful lives assigned consist of the following (in thousands, except useful life):


			Useful Life
	AFF Acquisition		(In Years)
Merchant relationships	$	194,000	7
Developed technology	99,400		5
Trade name	10,200		2
Relationships with existing lessees	1,500		1

Total intangible assets	$	305,100

The following table details the remaining weighted-average amortization periods for the definite-lived intangible assets included in the table above:


			Weighted-Average Remaining Amortization Period (Years)
As of December 31, 2021
Merchant relationships			3.3
Developed technology			2.5
Customer relationships			1.6
Trade name			1.0
Lessee relationships			0.7
Total definite-lived intangible assets			3.0

Goodwill Future Amortization Expense

Estimated future amortization expense is as follows (in thousands):


2022	$	57,074
2023	56,914
2024	49,842
2025	48,188
2026	45,250
Thereafter	46,718
	$	303,986

Indefinite-Lived Intangible Assets

Indefinite-lived intangible assets as of December 31, 2021 and 2020 consist of the following (in thousands):


	As of December 31,
	2021		2020
Trade names	$	46,300	$	46,300
Pawn licenses (1)	36,648		34,237
Other indefinite-lived intangibles	1,250		1,250
	$	84,198	$	81,787

(1)Costs to renew licenses with indefinite lives are expensed as incurred and recorded in operating expenses in the consolidated statements of income.

The Company performed its annual assessment of indefinite-lived intangible assets and determined there was no impairment as of December 31, 2021 and 2020.

Equity Compensation Plans and Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Nonvested Stock Options Activity

The following table summarizes the restricted stock unit award activity for the years ended December 31, 2021, 2020 and 2019 (shares in thousands):


	2021			2020			2019
		Weighted-			Weighted-			Weighted-
		Average			Average			Average
	Underlying	Fair Value		Underlying	Fair Value		Underlying	Fair Value
	Shares	of Grant		Shares	of Grant		Shares	of Grant
Outstanding at beginning of year	373	$	77.40	357	$	69.13	254	$	59.53
Performance-based grants (1)	105	58.68		238	78.40		109	86.86
Time-based grants	48	58.68		21	84.93		19	86.86
Performance-based vested	(91)	72.70		(117)	48.25		(10)	45.93
Time-based vested	(19)	67.86		(12)	76.84		(15)	73.78
Performance-based canceled (2)	(18)	72.56		(114)	84.93		—	—
Time-based canceled	(15)	72.49		—	—		—	—
Outstanding at end of year	383	$	71.93	373	$	77.40	357	$	69.13

(1)Represents the maximum possible award. The Company’s level of achievement of the respective performance goals will result in actual vesting of between zero shares and the maximum share award. Performance-based grants for 2020 include 114 shares which were subsequently cancelled in 2020 as described in footnote (2) below.

(2)Performance-based canceled for 2020 represents cancellation of performance-based awards granted in January of 2020 that were subsequently replaced with a new performance-based award granted in December 2020. The grant date fair value of the December 2020 replacement performance-based awards was $72.37 per share.

Schedule of Stock Options Activity

The following table summarizes stock option activity for the years ended December 31, 2021, 2020 and 2019 (shares in thousands):


	2021			2020			2019
		Weighted-			Weighted-			Weighted-
		Average			Average			Average
	Underlying	Exercise		Underlying	Exercise		Underlying	Exercise
	Shares	Price		Shares	Price		Shares	Price
Outstanding at beginning of year	10	$	38.00	70	$	38.86	80	$	39.00

Exercised	(10)	38.00		(60)	39.00		(10)	40.00

Outstanding at end of year	—	—		10	38.00		70	38.86

Exercisable at end of year	—	—		—	—		40	39.00

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The Company’s net income includes the following compensation costs related to share-based compensation arrangements (in thousands):


	Year Ended December 31,
	2021		2020		2019
Gross compensation costs:
Restricted stock unit awards	$	5,150	$	2,899	$	8,637
Stock options	—		15		43
Total gross compensation costs	5,150		2,914		8,680

Income tax benefits:
Restricted stock unit awards	(205)		(901)		(302)
Exercise of stock options	—		(94)		(114)
Total income tax benefits	(205)		(995)		(416)

Net compensation expense	$	4,945	$	1,919	$	8,264

Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following tables present reportable segment information for the years ended December 31, 2021, 2020 and 2019 as well as separately identified segment assets (in thousands):


	Year Ended December 31, 2021
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate		Consolidated
Revenue:
Retail merchandise sales	$	742,374	$	391,875	$	—	$	—	$	1,134,249
Pawn loan fees	305,350		170,432		—		—		475,782
Leased merchandise income	—		—		22,720		—		22,720
Interest and fees on finance receivables	—		—		9,024		—		9,024
Wholesale scrap jewelry sales	27,163		30,027		—		—		57,190
Total revenue	1,074,887		592,334		31,744		—		1,698,965

Cost of revenue:
Cost of retail merchandise sold	416,039		247,425		—		—		663,464
Depreciation of leased merchandise	—		—		12,826		—		12,826
Provision for lease losses	—		—		5,442		—		5,442
Provision for loan losses	—		—		48,952		—		48,952
Cost of wholesale scrap jewelry sold	22,886		26,243		—		—		49,129
Total cost of revenue	438,925		273,668		67,220		—		779,813

Net revenue (loss)	635,962		318,666		(35,476)		—		919,152

Expenses and other income:
Store operating expenses	380,895		179,020		4,917		—		564,832
Administrative expenses	—		—		—		111,259		111,259
Depreciation and amortization	22,234		17,834		122		5,716		45,906
Interest expense	—		—		—		32,386		32,386
Interest income	—		—		—		(696)		(696)
Loss on foreign exchange	—		—		—		436		436
Merger and acquisition expenses	—		—		—		15,449		15,449
Gain on revaluation of contingent acquisition consideration	—		—		—		(17,871)		(17,871)
Impairments and dispositions of certain other assets	—		—		—		949		949


Total expenses and other income	403,129		196,854		5,039		147,628		752,650

Income (loss) before income taxes	$	232,833	$	121,812	$	(40,515)	$	(147,628)	$	166,502


	As of December 31, 2021
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate		Consolidated
Pawn loans	$	256,311	$	91,662	$	—	$	—	$	347,973
Finance receivables, net	—		—		181,021		—		181,021
Inventories	197,486		65,825		—		—		263,311
Leased merchandise, net	—		—		143,944		—		143,944
Goodwill	861,793		171,279		503,106		—		1,536,178
Total assets	1,944,487		562,661		1,178,729		150,575		3,836,452


	Year Ended December 31, 2020
	U.S. Pawn		Latin America Pawn		Corporate		Consolidated
Revenue:
Retail merchandise sales	$	720,281	$	355,237	$	—	$	1,075,518
Pawn loan fees	310,437		147,080		—		457,517

Interest and fees on finance receivables (1)	2,016		—		—		2,016
Wholesale scrap jewelry sales	45,405		50,828		—		96,233
Total revenue	1,078,139		553,145		—		1,631,284

Cost of revenue:
Cost of retail merchandise sold	415,938		225,149		—		641,087


Provision for loan losses (1)	(488)		—		—		(488)
Cost of wholesale scrap jewelry sold	39,584		39,962		—		79,546
Total cost of revenue	455,034		265,111		—		720,145

Net revenue	623,105		288,034		—		911,139

Expenses and other income:
Store operating expenses	396,627		165,531		—		562,158
Administrative expenses	—		—		110,931		110,931
Depreciation and amortization	21,743		15,816		4,546		42,105
Interest expense	—		—		29,344		29,344
Interest income	—		—		(1,540)		(1,540)
Loss on foreign exchange	—		—		884		884
Merger and acquisition expenses	—		—		1,316		1,316

Impairments and dispositions of certain other assets	—		—		10,505		10,505
Loss on extinguishment of debt	—		—		11,737		11,737

Total expenses and other income	418,370		181,347		167,723		767,440

Income (loss) before income taxes	$	204,735	$	106,687	$	(167,723)	$	143,699

(1)Effective June 30, 2020, the Company’s U.S. pawn segment ceased offering an unsecured consumer loan product in the U.S.


	As of December 31, 2020
	U.S. Pawn		Latin America Pawn		Corporate		Consolidated
Pawn loans	$	220,391	$	87,840	$	—	$	308,231

Inventories	136,109		54,243		—		190,352

Goodwill	802,148		175,233		—		977,381
Total assets	1,718,975		540,473		112,749		2,372,197


	Year Ended December 31, 2019
	U.S. Pawn		Latin America Pawn		Corporate		Consolidated
Revenue:
Retail merchandise sales	$	722,127	$	453,434	$	—	$	1,175,561
Pawn loan fees	379,395		185,429		—		564,824

Interest and fees on finance receivables	20,178		—		—		20,178
Wholesale scrap jewelry sales	71,813		32,063		—		103,876
Total revenue	1,193,513		670,926		—		1,864,439

Cost of revenue:
Cost of retail merchandise sold	447,911		297,950		—		745,861


Provision for loan losses	4,159		—		—		4,159
Cost of wholesale scrap jewelry sold	65,941		30,131		—		96,072
Total cost of revenue	518,011		328,081		—		846,092

Net revenue	675,502		342,845		—		1,018,347

Expenses and other income:
Store operating expenses	412,508		183,031		—		595,539
Administrative expenses	—		—		122,334		122,334
Depreciation and amortization	20,860		14,626		6,418		41,904
Interest expense	—		—		34,035		34,035
Interest income	—		—		(1,055)		(1,055)
Gain on foreign exchange	—		—		(787)		(787)
Merger and acquisition expenses	—		—		1,766		1,766




Total expenses and other income	433,368		197,657		162,711		793,736

Income (loss) before income taxes	$	242,134	$	145,188	$	(162,711)	$	224,611


	As of December 31, 2019
	U.S. Pawn		Latin America Pawn		Corporate		Consolidated
Pawn loans	$	268,793	$	100,734	$	—	$	369,527
Consumer loans, net	751		—		—		751

Inventories	181,320		83,936		—		265,256

Goodwill	771,311		177,332		—		948,643
Total assets	1,767,504		574,059		97,877		2,439,440

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas


	Year Ended December 31,
	2021		2020		2019
Revenue:
U.S.	$	1,106,631	$	1,078,139	$	1,193,513
Mexico	562,493		530,462		641,505
Other Latin America	29,841		22,683		29,421
	$	1,698,965	$	1,631,284	$	1,864,439

Long-lived assets:
U.S.	$	373,218	$	286,079	$	254,395
Mexico	84,648		82,438		80,385
Other Latin America	13,191		14,968		12,893
	$	471,057	$	383,485	$	347,673

Organization and Nature of the Company (Details)	12 Months Ended
Organization and Nature of the Company (Details)	Dec. 31, 2021 numberOfBusinessLines segment state
Organization and Nature of the Company [Line Items]
Number of Business Lines \| numberOfBusinessLines	2
Number of reportable segments \| segment	3
Pawn Operations
Organization and Nature of the Company [Line Items]
Number of states in which entity operates	26
Retail POS Payment Solutions
Organization and Nature of the Company [Line Items]
Number of states in which entity operates	50

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash associated with undistributed earnings of foreign subsidiaries	$ 57,500,000
Leased Merchandise, minimum lease holding period	60 days
Leased Merchandise, Depreciation over Life of Lease, Salvage Value	$ 0
Leased Merchandise, Threshold Period Past Due, Writeoff	90 days
Financing Receivable, Accrued Interest, after Allowance for Credit Loss	$ 12,400,000	$ 0
Financing Receivable, Threshold Period Past Due, Writeoff	90 days
Asset Impairment Charges		1,900,000
Tangible Asset Impairment Charges		1,500,000
Advertising expense	$ 1,000,000	$ 1,100,000	$ 1,200,000
Mexico, Pesos
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Foreign currency exchange rate, translation	2030.00%	2150.00%	1930.00%
United States of America, Dollars
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Foreign currency exchange rate, translation	100.00%	100.00%	100.00%
Guatemala, Quetzales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Foreign currency exchange rate, translation	770.00%	770.00%	770.00%
Colombia, Pesos
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Foreign currency exchange rate, translation	374200.00%	369300.00%	328000.00%
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Leased Merchandise, Contract Range	6 months
Finance Receivable, Contract Range	6 months
Finance Receivable, Period for Early Payoff discount	90 days
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Leased Merchandise, Contract Range	24 months
Finance Receivable, Contract Range	24 months
Finance Receivable, Period for Early Payoff discount	105 days
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment useful life (years)	30 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment useful life (years)	40 years
Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment useful life (years)	3 years
Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment useful life (years)	5 years

Summary of Significant Accounting Policies - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Net income	$ 124,909	$ 106,579	$ 164,618
Weighted-average common shares for calculating basic earnings per share	40,975	41,502	43,020
Stock options and restricted stock unit awards	49	98	188
Weighted-average common shares for calculating diluted earnings per share	41,024	41,600	43,208
Basic (in dollars per share)	$ 3.05	$ 2.57	$ 3.83
Diluted (in dollars per share	$ 3.04	$ 2.56	$ 3.81

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

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+ Details

Acquisitions - Narrative (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Dec. 17, 2021 USD ($) shares	Dec. 31, 2021 USD ($) store $ / shares	Dec. 31, 2020 USD ($) store	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Shares issued upon acquisition of American First Finance (shares) \| shares	8,046,252
Purchase price			$ 43,600
Cash paid			41,400
Liabilities incurred			2,200
Revenue since acquisition		$ 56,000
Transaction and integration costs		11,900
Net earnings since acquisition		$ (41,000)
AFF
Business Acquisition [Line Items]
Shares issued upon acquisition of American First Finance (shares) \| shares	8,046,252
Business combination, percentage of stock held by shareholders	83.00%
Business combination, percentage of stock held by selling party	17.00%
Business combination, additional contingent consideration	$ 375,000
Business combination, additional contingent consideration based on average stock price	75,000
Stock price, highest average 10-day target \| $ / shares		$ 86.25
Goodwill expected tax deductible amount	212,300
2022		$ 30,600
2023		31,500
2024		29,800
2025		28,200
2026		26,200
Cash paid	$ 253,087
Transaction and integration costs			$ 15,400
AFF \| Forecast
Business Acquisition [Line Items]
Business combination, contingent consideration based on EBITDA targets				$ 50,000	$ 250,000
Pawn Store
Business Acquisition [Line Items]
Purchase price		79,500
Cash paid		76,000
Liabilities incurred		3,500
Payments for Previous Acquisition		$ 5,800
Mexico
Business Acquisition [Line Items]
Number of stores acquired \| store			40
Number of acquisitions \| store			2
United States
Business Acquisition [Line Items]
Number of stores acquired \| store			22
Number of acquisitions \| store			2
United States \| Pawn Store
Business Acquisition [Line Items]
Number of stores acquired \| store		46
Number of acquisitions \| store		3

Acquisitions - Schedule of Purchase Consideration (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Dec. 17, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 16, 2021
Business Acquisition [Line Items]
Shares issued upon acquisition of American First Finance (shares)	8,046,252
Cash paid		$ 41,400
Estimated fair value of Contingent Consideration (see Note 6)			$ 109,549
AFF
Business Acquisition [Line Items]
Shares issued upon acquisition of American First Finance (shares)	8,046,252
Closing common stock price per share at December 16, 2021			$ 74.81	$ 62.83
Stock consideration	$ 505,546
Cash paid	253,087
Cash consideration paid to extinguish AFF pre-existing debt	257,278
Present value of deferred consideration payable to AFF shareholders on December 31, 2022			$ 23,873
Estimated fair value of Contingent Consideration (see Note 6)	127,420
Less cash acquired	48,263
Aggregate purchase consideration	$ 1,118,941

Acquisitions - Acquisitions Purchase Price Allocation Table (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 1,536,178	$ 977,381	$ 948,643
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Pawn loans	7,920
Fees and service charges receivable	470
Inventory	8,822
Other current assets	294
Property and equipment	1,174
Goodwill	59,645
Intangible assets	2,835
Other non-current assets	36
Current liabilities	(1,659)
Aggregate merger consideration	79,537
AFF
Business Acquisition [Line Items]
Accounts receivable	11,660
Finance receivables	225,261
Leased merchandise	139,649
Other current assets	4,474
Property and equipment	11,670
Operating lease right of use asset	491
Goodwill	503,106
Intangible assets	305,100
Accounts payable and accrued liabilities	(28,357)
Customer deposits and prepayments	(11,014)
Lease liability, current	(10)
Deferred tax liabilities	(42,608)
Lease liability, non-current	(481)
Aggregate merger consideration	$ 1,118,941

Acquisitions - Fair Value of Finance Receivables (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 17, 2021	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Non-credit discount		$ (3,521)	$ 0
Initial allowance recognized for PCD loans (2)			$ 0
AFF \| Purchased With Credit Deterioration
Business Acquisition [Line Items]
Unpaid principal balance of PCD finance receivables	$ 41,900
Non-credit discount	(4,120)
Amortized cost of PCD finance receivables	37,780
Initial allowance recognized for PCD loans (2)		32,036
Fair value of PCD finance receivables	5,744
AFF \| Not Purchased With Credit Deterioration
Business Acquisition [Line Items]
Unpaid principal balance of PCD finance receivables	177,456
Non-credit discount	42,061
Amortized cost of PCD finance receivables	219,517
Initial allowance recognized for PCD loans (2)		$ 44,300
Fair value of PCD finance receivables	$ 175,267

Acquisitions - Schedule of intangible Assets Acquired (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 331,211	$ 25,782
Merchant relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		0
Developed Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		0
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		0
Lessee Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 0
AFF
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	305,100
AFF \| Merchant relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 194,000
Finite-Lived Intangible Asset, Useful Life	7 years
AFF \| Developed Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 99,400
Finite-Lived Intangible Asset, Useful Life	5 years
AFF \| Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 10,200
Finite-Lived Intangible Asset, Useful Life	2 years
AFF \| Lessee Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,500
Finite-Lived Intangible Asset, Useful Life	1 year

Acquisitions - Pro Forma (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Revenues	$ 1,698,965	$ 1,631,284	$ 1,864,439
Net income	$ 124,909	$ 106,579	$ 164,618
Basic (in dollars per share)	$ 3.05	$ 2.57	$ 3.83
Net income per diluted share (in dollars per share)	$ 3.04	$ 2.56	$ 3.81
AFF
Business Acquisition [Line Items]
Revenues	$ 1,698,965	$ 1,631,284
Net income	$ 124,909	$ 106,579
Basic (in dollars per share)	$ 3.05	$ 2.57
Net income per diluted share (in dollars per share)	$ 3.04	$ 2.56
AFF \| Pro Forma
Business Acquisition [Line Items]
Revenues	$ 2,305,860	$ 2,024,055
Net income	$ 156,257	$ 60,059
Basic (in dollars per share)	$ 3.21	$ 1.21
Net income per diluted share (in dollars per share)	$ 3.20	$ 1.21

- Definition

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

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

+ References

+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Operating Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	4 years 1 month 6 days	4 years	3 years 10 months 24 days
Weighted average discount rate (as a percent)	6.20%	7.00%	7.80%
Foreign Currency Transaction Loss, before Tax	$ (0.6)	$ (1.2)
Foreign Currency Transaction Gain, before Tax			$ 0.9
Minimum
Lessee, Lease, Description [Line Items]
General term of leased facilities	3 years
Maximum
Lessee, Lease, Description [Line Items]
General term of leased facilities	5 years

Operating Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease expense	$ 125,439	$ 121,649	$ 124,082
Variable lease expense	16,021	14,444	7,775
Total operating lease expense	$ 141,460	$ 136,093	$ 131,857

Operating Leases - Lease Maturities (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
2022	$ 106,197
2023	85,967
2024	62,418
2025	36,743
2026	18,060
Thereafter	23,514
Total	332,899
Less amount of lease payments representing interest	(39,163)
Total present value of lease payments	$ 293,736

Operating Leases - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 114,463	$ 110,965	$ 116,448
Leased assets obtained in exchange for new operating lease liabilities	$ 110,531	$ 104,576	$ 71,117

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Dec. 17, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity, Class of Treasury Stock [Line Items]
Stock repurchased during period (shares)		688,000	1,427,000
Dollar Amount Purchased in 2021		$ 49,610	$ 107,000
Stock repurchase program, average cost per share (in dollars per share)		$ 72.10	$ 74.96
Dollar Amount Authorized		$ 100,000
Remaining Dollar Amount Authorized For Future Purchases		72,217
Payments of dividends		$ 47,533	$ 44,752	$ 43,952
Shares issued upon acquisition of American First Finance (shares)	8,046,252
July 25, 2018 [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchased during period (shares)		318,000
Dollar Amount Purchased in 2021		$ 21,827
Remaining Dollar Amount Authorized For Future Purchases		$ 0
October 24, 2018 [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchased during period (shares)		370,000
Dollar Amount Purchased in 2021		$ 27,783
Remaining Dollar Amount Authorized For Future Purchases		$ 72,217

Fair Value of Financial Instruments Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Tangible Asset Impairment Charges	$ 1,500
Estimated fair value of Contingent Consideration (see Note 6)		$ 109,549
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	65,850	120,046
Contingent Consideration (1)		109,549
Accounts Receivable, Fair Value Disclosure	41,110	55,356
Total assets	415,191	704,396
Total liabilities	623,000	1,309,000
Carrying Value \| Revolving unsecured credit facilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	123,000	259,000
Carrying Value \| Senior unsecured notes, outstanding principal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	500,000	1,050,000
Carrying Value \| Pawn Loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable	308,231	347,973
Carrying Value \| Financing Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable		181,021
Estimate Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	65,850	120,046
Accounts Receivable, Fair Value Disclosure	41,110	55,356
Total assets	415,191	756,375
Total liabilities	639,000	1,317,000
Estimate Value \| Revolving unsecured credit facilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	123,000	259,000
Estimate Value \| Senior unsecured notes, outstanding principal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	516,000	1,058,000
Estimate Value \| Pawn Loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable	308,231	347,973
Estimate Value \| Financing Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable		233,000
Estimate Value \| Fair Value Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	65,850	120,046
Contingent Consideration (1)		0
Accounts Receivable, Fair Value Disclosure	0	0
Total assets	65,850	120,046
Total liabilities	0	0
Estimate Value \| Fair Value Level 1 \| Revolving unsecured credit facilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
Estimate Value \| Fair Value Level 1 \| Senior unsecured notes, outstanding principal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
Estimate Value \| Fair Value Level 1 \| Pawn Loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable	0	0
Estimate Value \| Fair Value Level 1 \| Financing Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable		0
Estimate Value \| Fair Value Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Contingent Consideration (1)		0
Accounts Receivable, Fair Value Disclosure	0	0
Total assets	0	0
Total liabilities	639,000	1,317,000
Estimate Value \| Fair Value Level 2 \| Revolving unsecured credit facilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	123,000	259,000
Estimate Value \| Fair Value Level 2 \| Senior unsecured notes, outstanding principal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	516,000	1,058,000
Estimate Value \| Fair Value Level 2 \| Pawn Loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable	0	0
Estimate Value \| Fair Value Level 2 \| Financing Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable		0
Estimate Value \| Fair Value Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Contingent Consideration (1)		109,549
Accounts Receivable, Fair Value Disclosure	41,110	55,356
Total assets	349,341	636,329
Total liabilities	0	0
Estimate Value \| Fair Value Level 3 \| Revolving unsecured credit facilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
Estimate Value \| Fair Value Level 3 \| Senior unsecured notes, outstanding principal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0
Estimate Value \| Fair Value Level 3 \| Pawn Loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable	$ 308,231	347,973
Estimate Value \| Fair Value Level 3 \| Financing Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable		$ 233,000

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 17, 2021	Dec. 16, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of Contingent Consideration (see Note 6)	$ 109,549
Contingent consideration liability current	95,600
Asset Impairment Charges		$ 1,900
Other liabilities	13,950	0
Gain on revaluation of contingent acquisition consideration	$ 17,871	$ 0	$ 0
AFF
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of Contingent Consideration (see Note 6)				$ 127,420
Closing common stock price per share at December 16, 2021	$ 74.81				$ 62.83

Finance Receivables, Net (Details) - USD ($) $ in Thousands	12 Months Ended
Finance Receivables, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Financing Receivable, before Allowance for Credit loss, Fee, Premium and Discount	$ 220,329	$ 0
Premium on non-PCD finance receivables	40,251	0
Non-credit discount	(3,521)	0
Financing Receivable, Merchant partner discounts and premiums, net	(104)	0
Financing Receivable, Unearned Origination Fees	(360)	0
Financing Receivable, before Allowance for Credit Loss	256,595	0
Financing Receivable, Allowance for Credit Loss	75,574	0	$ 34
Finance receivables, net	$ 181,021	$ 0

- Definition

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

+ References + Details

- Definition

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

+ References + Details

Finance Receivables, Net - Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Balance at beginning of year	$ 0	$ 34
Provision for loan losses (1)	48,952	(488)	$ 4,159
Initial allowance recognized for PCD loans (2)		0
Charge-offs	(5,545)	(114)
Recoveries	131	568
Balance at end of year	75,574	$ 0	$ 34
Purchased With Credit Deterioration \| AFF
Financing Receivable, Credit Quality Indicator [Line Items]
Initial allowance recognized for PCD loans (2)	$ 32,036

- Definition

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

+ References + Details

Finance Receivables, Net - Credit Quality Indicator (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Finance Receivable, before Allowance for Credit Loss, Premium and Discount	$ 219,865
Premium on non-PCD finance receivables	40,251	$ 0
Non-credit discount	(3,521)	0
Financing Receivable, before Allowance for Credit Loss	256,595	0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	194,997
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year		24,868
Fico Score, none obtained or identified
Financing Receivable, Credit Quality Indicator [Line Items]
Finance Receivable, before Allowance for Credit Loss, Premium and Discount	60,073
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	57,536
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year		2,537
FICO Score, 599 or Less
Financing Receivable, Credit Quality Indicator [Line Items]
Finance Receivable, before Allowance for Credit Loss, Premium and Discount	81,404
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	69,703
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year		11,701
FICO Score, 600 to 699
Financing Receivable, Credit Quality Indicator [Line Items]
Finance Receivable, before Allowance for Credit Loss, Premium and Discount	68,510
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	59,121
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year		9,389
FICO Score, Greater than 700
Financing Receivable, Credit Quality Indicator [Line Items]
Finance Receivable, before Allowance for Credit Loss, Premium and Discount	9,878
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	$ 8,637
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year		$ 1,241

Finance Receivables, Net - Aging of Finance Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Finance Receivable, before Allowance for Credit Loss, Premium and Discount	$ 219,865
Finance Receivable, Before Allowance for Credit Loss, Premium and Discount, Year Two		$ 19,482
Finance Receivable, Current, Before Allowance for Credit Loss, Premium and Discount, Year One	160,998
Financing Receivable, Current, before Allowance for Credit Loss, Premium and Discount		180,480
Financing Receivable, Year One, Originated, Current Fiscal Year	194,997
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year		24,868
Premium on non-PCD finance receivables	40,251	0
Non-credit discount	(3,521)	0
Financing Receivable, before Allowance for Credit Loss	256,595	0
Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	33,999	5,386
Finance Receivable, before Allowance for Credit Loss, Premium and Discount	39,385
Financial Asset, 1 to 30 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	16,077	2,260
Finance Receivable, before Allowance for Credit Loss, Premium and Discount	18,337
Financial Asset, 31 to 60 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	10,024	1,648
Finance Receivable, before Allowance for Credit Loss, Premium and Discount	11,672
Financial Asset, 61 to 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Past Due	7,898	$ 1,478
Finance Receivable, before Allowance for Credit Loss, Premium and Discount	$ 9,376

Leased Merchandise, Net (Details) - USD ($) $ in Thousands	12 Months Ended
Leased Merchandise, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Leased Merchandise, Before Fees, Premiums, Discounts, Accumulated Depreciation, and Credit Loss	$ 156,280	$ 0
Loan Processing Fee	(440)	0
Leased Merchandise, Merchant partner discounts and premiums, net	310	0
Leased Merchandise, Accumulated Depreciation	(6,764)	0
Leased merchandise, before allowance for lease losses	149,386	0
Leased Merchandise, Allowance for Credit loss	5,442	0	$ 0
Leased merchandise, net	143,944	0
Provision for Lease Losses	5,442	0	$ 0
Leased Merchandise, Allowance for Credit Loss, Writeoff	0	0
Leased Merchandise, Allowance for Credit Loss, Recovery	$ 0	$ 0

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 781,368	$ 658,950
Less: accumulated depreciation	(318,842)	(285,283)
Property and equipment, net	462,526	373,667
Depreciation expense	42,500	39,800	$ 39,100
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	114,150	83,458
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	199,100	150,132
Furniture, fixtures, equipment and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 468,118	$ 425,360

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Business Acquisition, Accounts payable to sellers	$ 123,475	$ 5,965
Accrued compensation	33,546	21,874
Taxes Payable, Current	32,463	24,984
Sales, property, and payroll taxes payable	23,077	7,187
Accrued interest payable	9,375	8,121
Benefits liabilities and withholding payable	3,084	2,852
Other accrued liabilities	15,920	10,934
Accounts payable and accrued liabilities	240,940	$ 81,917
AFF
Accounts, Notes, Loans and Financing Receivable [Line Items]
Present value of deferred consideration payable to AFF shareholders on December 31, 2022	$ 23,873

Long-Term Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 13, 2021	Dec. 31, 2020	Aug. 26, 2020
Debt Instrument [Line Items]
Long-term line of credit	$ 259,000
Long-term Debt	1,309,000
Total long-term debt	1,292,904		$ 615,916
Line of Credit
Debt Instrument [Line Items]
Long-term line of credit	259,000		123,000
Senior Notes
Debt Instrument [Line Items]
Long-term Debt	1,033,904		492,916
Senior Notes \| 4.625% Senior Unsecured Notes due 2028 [Member]
Debt Instrument [Line Items]
Long-term Debt	492,499		492,916
Debt Issuance Costs, Net	$ 7,500		7,100
Interest rate	4.625%			4.625%
Senior Notes \| 5.625% Senior Unsecured Notes due 2030
Debt Instrument [Line Items]
Long-term Debt	$ 541,405		$ 0
Debt Issuance Costs, Net	$ 8,600	$ 8,600
Interest rate	5.625%	5.625%

Long-Term Debt - Schedule of Maturities for Long-term Debt (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Debt Disclosure [Abstract]
2022	$ 0
2023	0
2024	259,000
2025	0
2026	0
Thereafter	1,050,000
Total long-term debt	$ 1,309,000

- Definition

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

+ References + Details

Long-Term Debt - Narrative (Details)			1 Months Ended	3 Months Ended	12 Months Ended
Long-Term Debt - Narrative (Details)	Dec. 31, 2021 USD ($)	Dec. 08, 2021	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2021 MXN ($)	Dec. 13, 2021 USD ($)	Aug. 26, 2020 USD ($)	Dec. 19, 2019 USD ($)	May 30, 2017 USD ($)
Debt Instrument [Line Items]
Line of Credit Facility, Leverage Ratio, Temporary Adjusted Domestic EBITDA	4.5	4.5	5.0
Line of Credit Facility, Leverage Ratio, Temporary Adjusted EBITDA	3.5	3.3	4.0
Line of Credit Facility, Leverage Ratio, Adjusted EBITDA		3.0
Line of credit facility, leverage ratio, adjusted domestic EBITDA		4.0
Long-term line of credit	$ 259,000,000		$ 259,000,000		$ 259,000,000
Loss on extinguishment of debt					0	$ 11,737,000	$ 0
Repurchase/redemption premiums on senior unsecured notes				$ 8,800,000	0	8,781,000	$ 0
Write off of Deferred Debt Issuance Cost				2,900,000
Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity											$ 500,000,000
Long-term line of credit	259,000,000		259,000,000	123,000,000	259,000,000	123,000,000
Letters of credit outstanding, amount	3,200,000		3,200,000		3,200,000
Remaining borrowing capacity	$ 237,800,000		$ 237,800,000		$ 237,800,000
Commitment fee percentage					0.325%
Interest rate at period end	2.63%		2.63%		2.63%			2.63%
Repayments of debt					$ 136,000,000
Line of Credit \| Revolving Unsecured Uncommitted Credit Facility due 2023 [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 600,000,000
Long-term line of credit								0
Remaining borrowing capacity								$ 600,000,000
Line of Credit \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate					2.50%
Line of Credit \| Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate					1.50%
Line of Credit \| Mexican Central Bank Interbank Equilibrium Rate (TIIE) [Member] \| Revolving Unsecured Uncommitted Credit Facility due 2023 [Member]
Debt Instrument [Line Items]
Basis spread on variable rate					2.50%
Senior Notes \| 4.625% Senior Unsecured Notes due 2028 [Member]
Debt Instrument [Line Items]
Interest rate	4.625%		4.625%		4.625%			4.625%		4.625%
Face Amount										$ 500,000,000
Total debt ratio threshold	2.75		2.75		2.75			2.75
Debt Issuance Costs, Net	$ 7,500,000		$ 7,500,000	$ 7,100,000	$ 7,500,000	$ 7,100,000
Senior Notes \| Senior notes 2024
Debt Instrument [Line Items]
Interest rate												5.375%
Face Amount												$ 300,000,000
Redemption price					100.00%
Redemption price (up to)					40.00%
Senior Notes \| 5.625% Senior Unsecured Notes due 2030
Debt Instrument [Line Items]
Interest rate	5.625%		5.625%		5.625%			5.625%	5.625%
Face Amount									$ 550,000,000
Total debt ratio threshold	3.0		3.0		3.0			3.0
Redemption price					100.00%
Redemption price (up to)					40.00%
Debt Issuance Costs, Net	$ 8,600,000		$ 8,600,000		$ 8,600,000				$ 8,600,000
Debt Covenant, Total Debt Ratio	3.1		3.1		3.1			3.1
Minimum \| LIBOR
Debt Instrument [Line Items]
Interest rate	0.00%		0.00%		0.00%			0.00%

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income from continuing operations before income taxes
Domestic	$ 110,535	$ 98,111	$ 145,570
Foreign	55,967	45,588	79,041
Income before income taxes	166,502	143,699	224,611
Current income taxes:
Federal	14,031	14,951	26,624
Foreign	15,242	9,909	21,904
U.S. state and local	2,045	2,158	2,553
Current provision for income taxes	31,318	27,018	51,081
Deferred provision (benefit) for income taxes:
Federal	11,008	4,485	7,498
Foreign	(1,542)	5,287	863
U.S. state and local	809	330	551
Total deferred provision for income taxes	10,275	10,102	8,912
Provision for income taxes	$ 41,593	$ 37,120	$ 59,993

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Property and equipment in foreign jurisdictions	$ 11,452	$ 9,905
Finance receivables	7,421	0
Accrued fees on forfeited pawn loans	6,645	5,246
Deferred cost of goods sold deduction	1,989	3,622
Accrued compensation, payroll taxes and employee benefits	4,294	4,235
U.S. state and certain foreign net operating losses	6,429	5,942
Other	3,811	3,364
Total deferred tax assets	42,041	32,314
Deferred tax liabilities:
Intangible assets	126,283	81,749
Deferred Tax Liabilities, Leasing Arrangements	3,726	4,188
Leased merchandise and property and equipment in domestic jurisdictions	24,035	3,759
Other	2,052	3,691
Total deferred tax liabilities	156,096	93,387
Net deferred tax liabilities before valuation allowance	114,055	61,073
Valuation allowance	(6,429)	(5,942)
Net deferred tax liabilities	(120,484)	(67,015)
Deferred tax assets	5,614	4,158
Deferred tax liabilities	$ (126,098)	$ (71,173)

Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S. federal statutory rate			21.00%
Tax at the U.S. federal statutory rate	$ 35,149	$ 30,177	$ 47,168
U.S. state income tax, net of federal tax benefit of $599, $522 and $652, respectively	2,255	1,965	2,452
Federal Income tax provision (benefit) for state income taxes	599	522	652
Net incremental income tax expense from foreign earnings (1)	2,007	5,732	6,314
Non-deductible compensation expense	1,943	1,050	2,074
Global intangible low-taxed income tax	0	(1,863)	1,100
Other taxes and adjustments, net	239	59	885
Provision for income taxes	$ 41,593	$ 37,120	$ 59,993
Effective tax rate	25.00%	25.80%	26.70%
Foreign inflation index adjustment	$ 6,300	$ 2,000	$ 2,300

Commitments and Contingencies - Narrative (Details) - Forward Contracts - Gold, Ounces	Dec. 31, 2021 oz $ / oz
Guarantor Obligations [Line Items]
Investment contract weight \| oz	7,500
Derivative, average forward price \| $ / oz	1,807

Goodwill and Other Intangible Assets - Goodwill Roll-forward (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Balance, beginning of year	$ 977,381,000	$ 948,643,000
Merger and other acquisitions	562,751,000	33,434,000
Effect of foreign currency translation	(3,954,000)	(6,505,000)
Other adjustments		1,809,000
Balance, end of year	1,536,178,000	977,381,000
Goodwill impairment	0	0
Pawn Segment \| United States
Goodwill [Line Items]
Balance, beginning of year	802,148,000	771,311,000
Merger and other acquisitions	59,645,000	28,978,000
Effect of foreign currency translation	0	0
Other adjustments		1,859,000
Balance, end of year	861,793,000	802,148,000
Pawn Segment \| Latin America Pawn
Goodwill [Line Items]
Balance, beginning of year	175,233,000	177,332,000
Merger and other acquisitions	0	4,456,000
Effect of foreign currency translation	(3,954,000)	(6,505,000)
Other adjustments		(50,000)
Balance, end of year	171,279,000	175,233,000
Retail POS Payment Solutions \| United States
Goodwill [Line Items]
Balance, beginning of year	0	0
Merger and other acquisitions	503,106,000	0
Effect of foreign currency translation	0	0
Other adjustments		0
Balance, end of year	$ 503,106,000	$ 0

Goodwill and Other Intangible Assets - Intangible Assets Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 331,211	$ 25,782
Accumulated Amortization	(27,225)	(23,918)
Net Carrying Amount	303,986	1,864
Amortization expenses of intangible assets	$ 3,400	2,300	$ 2,900
Weighted average amortization period remaining, in years	3 years
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 26,111	25,782
Accumulated Amortization	(25,174)	(23,918)
Net Carrying Amount	$ 937	1,864
Weighted average amortization period remaining, in years	1 year 7 months 6 days
Merchant relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		0
Accumulated Amortization	$ (962)	0
Net Carrying Amount	$ 193,038	0
Weighted average amortization period remaining, in years	3 years 3 months 18 days
Developed Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		0
Accumulated Amortization	$ (828)	0
Net Carrying Amount	$ 98,572	0
Weighted average amortization period remaining, in years	2 years 6 months
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		0
Accumulated Amortization	$ (213)	0
Net Carrying Amount	$ 9,987	0
Weighted average amortization period remaining, in years	1 year
Lessee Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		0
Accumulated Amortization	$ (48)	0
Net Carrying Amount	$ 1,452	$ 0
Weighted average amortization period remaining, in years	8 months 12 days

Goodwill and Other Intangible Assets - Goodwill Future Amortization (Details) - Goodwill $ in Thousands	Dec. 31, 2021 USD ($)
2022	$ 57,074
2023	56,914
2024	49,842
2025	48,188
2026	45,250
Thereafter	46,718
Total future amortization	$ 303,986

Goodwill and Other Intangible Assets - Indefinite-Lived Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of intangible assets,indefinite-lived	$ 0	$ 0
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	84,198,000	81,787,000
Trade names
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	46,300,000	46,300,000
Pawn licenses
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	36,648,000	34,237,000
Other indefinite-lived intangibles
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 1,250,000	$ 1,250,000

Equity Compensation Plans and Share-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Additional Disclosures [Abstract]
Options and warrants exercises in period, total intrinsic value	$ 0.4	$ 1.8	$ 0.6
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract]
Shares issued in period	0
Nonvested “restricted” stock
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract]
Total intrinsic value for nonvested common stock awards vested during period	$ 6.6	$ 9.4	$ 2.1
Total intrinsic value for nonvested common stock awards outstanding	$ 28.7
Weighted-average period of recognition (years)	1 year 4 months 24 days
Total compensation cost not yet recognized, nonvested common stock awards	$ 10.4
Time Based Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (shares)	48,000	21,000	19,000
Time Based Shares \| Minimum
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract]
Vesting period	3 years	3 years	3 years
Time Based Shares \| Maximum
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract]
Vesting period	5 years	5 years	5 years
Stock Options and Warrants
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Additional Disclosures [Abstract]
Exercise price (in dollars per share)	$ 0	$ 0	$ 39.00
Stock Options and Warrants \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
2020 Performance Based Awards \| Minimum
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract]
Target share award earned, percentage	0.00%
2020 Performance Based Awards \| Maximum
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract]
Target share award earned, percentage	150.00%
2019 Performance Based Awards \| Minimum
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract]
Target share award earned, percentage	0.00%
2019 Performance Based Awards \| Maximum
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract]
Target share award earned, percentage	150.00%
2021 Performance Based Awards \| Minimum
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract]
Target share award earned, percentage	0.00%
2021 Performance Based Awards \| Maximum
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract]
Target share award earned, percentage	150.00%
Prior to merger
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	3,205,000

Equity Compensation Plans and Share-Based Compensation - Restricted Stock Unit Award Activity (Details) - $ / shares shares in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Underlying Shares - Outstanding at beginning of year		373	357	254
Underlying Shares - Outstanding at end of year	373	383	373	357
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted-Average Exercise Price - Outstanding at beginning of year		$ 77.40	$ 69.13	$ 59.53
Weighted-Average Exercise Price - Outstanding at end of year	$ 77.40	$ 71.93	$ 77.40	$ 69.13
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Underlying Shares - Granted		105	238	109
Underlying Shares - Exercised		(91)	(117)	(10)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted-Average Exercise Price - Granted		$ 58.68	$ 78.40	$ 86.86
Weighted-Average Exercise Price - Vested		$ 72.70	$ 48.25	$ 45.93
Vesting period		3 years
Time Based Shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Underlying Shares - Granted		48	21	19
Underlying Shares - Exercised		(19)	(12)	(15)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted-Average Exercise Price - Granted		$ 58.68	$ 84.93	$ 86.86
Weighted-Average Exercise Price - Vested		$ 67.86	$ 76.84	$ 73.78
Performance-Based Canceled
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Underlying Shares - Exercised		(18)	(114)	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted-Average Exercise Price - Vested		$ 72.56	$ 84.93	$ 0
Grant date fair value of replacement performance-based awards	$ 72.37
Time Based Canceled
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Underlying Shares - Exercised		(15)	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted-Average Exercise Price - Vested		$ 72.49	$ 0	$ 0

Equity Compensation Plans and Share-Based Compensation - Warranty and Options Activity (Details) - Stock Options and Warrants - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Outstanding [Roll Forward]
Underlying Shares - Outstanding at beginning of year	10	70	80
Underlying Shares - Exercised	(10)	(60)	(10)
Underlying Shares - Outstanding at end of year	0	10	70
Underlying Shares - Exercisable at end of year	0	0	40
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted-Average Exercise Price - Outstanding at beginning of year	$ 38.00	$ 38.86	$ 39.00
Weighted-Average Exercise Price - Exercised	38.00	39.00	40.00
Weighted-Average Exercise Price - Outstanding at end of year	0	38.00	38.86
Weighted-Average Exercise Price - Exercisable at end of year	$ 0	$ 0	$ 39.00

Equity Compensation Plans and Share-Based Compensation - Share-based Compensation Allocation of Period Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Gross compensation costs:	$ 5,150	$ 2,914	$ 8,680
Income tax benefits:	(205)	(995)	(416)
Net compensation expense	4,945	1,919	8,264
Stock options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Gross compensation costs:	0	15	43
Income tax benefits:	0	(94)	(114)
Nonvested “restricted” stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Gross compensation costs:	5,150	2,899	8,637
Income tax benefits:	$ (205)	$ (901)	$ (302)

Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
Benefit Plans (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Contribution Plan Disclosure [Line Items]
Maximum annual contribution per employee	90.00%
Employer matching contribution	6.00%
Rate of employer match	50.00%
Vesting period for company contributions	5 years
Employer contribution amount	$ 0.1	$ 3.3	$ 3.1
Minimum
Defined Contribution Plan Disclosure [Line Items]
Vesting period until participation in 401(k)	2 months

Segment and Geographic Information - Segment Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) segment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Schedule of Revenues from External Customers and Assets [Line Items]
Number of reportable segments \| segment	3
Revenue:
Retail merchandise sales	$ 1,134,249	$ 1,075,518	$ 1,175,561
Pawn loan fees	475,782	457,517	564,824
Leased merchandise income	22,720	0	0
Wholesale scrap jewelry sales	57,190	96,233	103,876
Total revenue	1,698,965	1,631,284	1,864,439
Cost of revenue:
Cost of retail merchandise sold	663,464	641,087	745,861
Depreciation of leased merchandise	12,826	0	0
Provision for Lease Losses	5,442	0	0
Provision for loan losses (1)	48,952	(488)	4,159
Cost of wholesale scrap jewelry sold	49,129	79,546	96,072
Total cost of revenue	779,813	720,145	846,092
Net revenue	919,152	911,139	1,018,347
Expenses and other income:
Operating expenses	564,832	562,158	595,539
Administrative expenses	111,259	110,931	122,334
Depreciation and amortization	45,906	42,105	41,904
Interest expense	32,386	29,344	34,035
Interest income	(696)	(1,540)	(1,055)
Loss (gain) on foreign exchange	436	884	(787)
Merger and acquisition expenses	15,449	1,316	1,766
Gain on revaluation of contingent acquisition consideration	(17,871)	0	0
Impairments and dispositions of certain other assets	949	10,505	0
Loss on extinguishment of debt	0	11,737	0
Total expenses and other income	752,650	767,440	793,736
Income before income taxes	166,502	143,699	224,611
Pawn loans	347,973	308,231	369,527
Consumer loans, net			751
Finance receivables, net	181,021	0
Inventories	263,311	190,352	265,256
Leased merchandise, net	143,944	0
Goodwill	1,536,178	977,381	948,643
Total assets	3,836,452	2,372,197	2,439,440
Asset Impairment Charges		1,900
Provision for Loan and Lease Losses		(488)	4,159
Interest and fees on finance receivables	9,024	2,016	20,178
U.S. Pawn
Revenue:
Total revenue	1,106,631	1,078,139	1,193,513
U.S. Pawn \| Pawn Segment
Revenue:
Retail merchandise sales	742,374	720,281	722,127
Pawn loan fees	305,350	310,437	379,395
Leased merchandise income	0
Wholesale scrap jewelry sales	27,163	45,405	71,813
Total revenue	1,074,887	1,078,139	1,193,513
Cost of revenue:
Cost of retail merchandise sold	416,039	415,938	447,911
Depreciation of leased merchandise	0
Provision for Lease Losses	0
Provision for loan losses (1)	0
Cost of wholesale scrap jewelry sold	22,886	39,584	65,941
Total cost of revenue	438,925	455,034	518,011
Net revenue	635,962	623,105	675,502
Expenses and other income:
Operating expenses	380,895	396,627	412,508
Administrative expenses	0	0	0
Depreciation and amortization	22,234	21,743	20,860
Interest expense	0	0	0
Interest income	0	0	0
Loss (gain) on foreign exchange	0	0	0
Merger and acquisition expenses	0	0	0
Gain on revaluation of contingent acquisition consideration	0
Impairments and dispositions of certain other assets	0	0
Loss on extinguishment of debt		0
Total expenses and other income	403,129	418,370	433,368
Income before income taxes	232,833	204,735	242,134
Pawn loans	256,311	220,391	268,793
Consumer loans, net			751
Finance receivables, net	0
Inventories	197,486	136,109	181,320
Leased merchandise, net	0
Goodwill	861,793	802,148	771,311
Total assets	1,944,487	1,718,975	1,767,504
Provision for Loan and Lease Losses		(488)	4,159
Interest and fees on finance receivables	0	2,016	20,178
U.S. Pawn \| Retail POS Payment Solutions
Revenue:
Retail merchandise sales	0
Pawn loan fees	0
Leased merchandise income	22,720
Wholesale scrap jewelry sales	0
Total revenue	31,744
Cost of revenue:
Cost of retail merchandise sold	0
Depreciation of leased merchandise	12,826
Provision for Lease Losses	5,442
Provision for loan losses (1)	48,952
Cost of wholesale scrap jewelry sold	0
Total cost of revenue	67,220
Net revenue	(35,476)
Expenses and other income:
Operating expenses	4,917
Administrative expenses	0
Depreciation and amortization	122
Interest expense	0
Interest income	0
Loss (gain) on foreign exchange	0
Merger and acquisition expenses	0
Gain on revaluation of contingent acquisition consideration	0
Impairments and dispositions of certain other assets	0
Total expenses and other income	5,039
Income before income taxes	(40,515)
Pawn loans	0
Finance receivables, net	181,021
Inventories	0
Leased merchandise, net	143,944
Goodwill	503,106	0	0
Total assets	1,178,729
Interest and fees on finance receivables	9,024
Latin America Pawn \| Pawn Segment
Revenue:
Retail merchandise sales	391,875	355,237	453,434
Pawn loan fees	170,432	147,080	185,429
Leased merchandise income	0
Wholesale scrap jewelry sales	30,027	50,828	32,063
Total revenue	592,334	553,145	670,926
Cost of revenue:
Cost of retail merchandise sold	247,425	225,149	297,950
Depreciation of leased merchandise	0
Provision for Lease Losses	0
Provision for loan losses (1)	0
Cost of wholesale scrap jewelry sold	26,243	39,962	30,131
Total cost of revenue	273,668	265,111	328,081
Net revenue	318,666	288,034	342,845
Expenses and other income:
Operating expenses	179,020	165,531	183,031
Administrative expenses	0	0	0
Depreciation and amortization	17,834	15,816	14,626
Interest expense	0	0	0
Interest income	0	0	0
Loss (gain) on foreign exchange	0	0	0
Merger and acquisition expenses	0	0	0
Gain on revaluation of contingent acquisition consideration	0
Impairments and dispositions of certain other assets	0	0
Loss on extinguishment of debt		0
Total expenses and other income	196,854	181,347	197,657
Income before income taxes	121,812	106,687	145,188
Pawn loans	91,662	87,840	100,734
Consumer loans, net			0
Finance receivables, net	0
Inventories	65,825	54,243	83,936
Leased merchandise, net	0
Goodwill	171,279	175,233	177,332
Total assets	562,661	540,473	574,059
Provision for Loan and Lease Losses		0	0
Interest and fees on finance receivables	0	0	0
Corporate
Revenue:
Retail merchandise sales	0	0	0
Pawn loan fees	0	0	0
Leased merchandise income	0
Wholesale scrap jewelry sales	0	0	0
Total revenue	0	0	0
Cost of revenue:
Cost of retail merchandise sold	0	0	0
Depreciation of leased merchandise	0
Provision for Lease Losses	0
Provision for loan losses (1)	0
Cost of wholesale scrap jewelry sold	0	0	0
Total cost of revenue	0	0	0
Net revenue	0	0	0
Expenses and other income:
Operating expenses	0	0	0
Administrative expenses	111,259	110,931	122,334
Depreciation and amortization	5,716	4,546	6,418
Interest expense	32,386	29,344	34,035
Interest income	(696)	(1,540)	(1,055)
Loss (gain) on foreign exchange	436	884	(787)
Merger and acquisition expenses	15,449	1,316	1,766
Gain on revaluation of contingent acquisition consideration	(17,871)
Impairments and dispositions of certain other assets	949	10,505
Loss on extinguishment of debt		11,737
Total expenses and other income	147,628	167,723	162,711
Income before income taxes	(147,628)	(167,723)	(162,711)
Pawn loans	0	0	0
Consumer loans, net			0
Finance receivables, net	0
Inventories	0	0	0
Leased merchandise, net	0
Goodwill	0	0	0
Total assets	150,575	112,749	97,877
Provision for Loan and Lease Losses		0	0
Interest and fees on finance receivables	$ 0	$ 0	$ 0

Segment and Geographic Information - Geographic Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 1,698,965	$ 1,631,284	$ 1,864,439
Long-Lived Assets	471,057	383,485	347,673
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	1,106,631	1,078,139	1,193,513
Long-Lived Assets	373,218	286,079	254,395
Mexico
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	562,493	530,462	641,505
Long-Lived Assets	84,648	82,438	80,385
Other Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	29,841	22,683	29,421
Long-Lived Assets	$ 13,191	$ 14,968	$ 12,893

- Definition

+ References

+ Details

Label	Element	Value
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense	0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense	0
Undistributed Earnings of Foreign Subsidiaries	us-gaap_UndistributedEarningsOfForeignSubsidiaries	$ 248,800,000
Income tax benefit, percent of likelihood of being realized upon settlement	fcfs_Incometaxbenefitpercentoflikelihoodofbeingrealizeduponsettlement	5000.00%
Unrecognized Tax Benefits	us-gaap_UnrecognizedTaxBenefits	$ 0
Unrecognized Tax Benefits	us-gaap_UnrecognizedTaxBenefits	0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0
Foreign Earnings Repatriated	us-gaap_ForeignEarningsRepatriated	$ 10,000,000
UNITED STATES
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	21.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	21.00%
GUATEMALA
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	25.00%
NETHERLANDS
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.00%
EL SALVADOR
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	30.00%
MEXICO
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	30.00%
COLOMBIA
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	31.00%