0000840489-24-000087 | 10-Q | XBRL Viewer

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Retail merchandise sales	$ 366,821	$ 327,915
Pawn loan fees	179,535	151,560
Leased merchandise income	205,671	183,438
Interest and fees on finance receivables	57,387	54,642
Wholesale scrap jewelry sales	26,956	45,184
Total revenue	836,370	762,739
Cost of revenue:
Cost of retail merchandise sold	223,529	199,001
Depreciation of leased merchandise	120,284	101,605
Provision for lease losses	43,010	49,065
Provision for loan losses	30,418	29,285
Cost of wholesale scrap jewelry sold	23,289	35,727
Total cost of revenue	440,530	414,683
Net revenue	395,840	348,056
Expenses and other income:
Operating expenses	221,136	199,061
Administrative expenses	43,057	39,017
Depreciation and amortization	26,027	27,111
Interest expense	25,418	20,897
Interest income	(743)	(517)
Gain on foreign exchange	(186)	(802)
Merger and acquisition expenses	597	31
Other expenses (income), net	(1,351)	45
Total expenses and other income	313,955	284,843
Income (loss) before income taxes	81,885	63,213
Provision for income taxes	20,517	15,825
Net income	$ 61,368	$ 47,388
Earnings per share:
Basic (USD per share)	$ 1.36	$ 1.03
Diluted (USD per share)	$ 1.35	$ 1.02

Long-Term Debt

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Long-term Debt

Long-Term Debt

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


	As of March 31,				As of December 31,
	2024		2023		2023
Revolving unsecured credit facilities:
Revolving unsecured credit facility, maturing 2027 (1)	$	15,000	$	308,000	$	568,000
Revolving unsecured uncommitted credit facility, maturing 2027 (1)	—		—		—
Total revolving unsecured credit facilities	15,000		308,000		568,000

Senior unsecured notes:
4.625% senior unsecured notes due 2028 (2)	494,763		493,727		494,499
5.625% senior unsecured notes due 2030 (3)	543,388		542,449		543,148
6.875% senior unsecured notes due 2032 (4)	490,996		—		—
Total senior unsecured notes	1,529,147		1,036,176		1,037,647

Total long-term debt	$	1,544,147	$	1,344,176	$	1,605,647

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

(2)As of March 31, 2024, March 31, 2023 and December 31, 2023, deferred debt issuance costs of $5.2 million, $6.3 million and $5.5 million, respectively, are included as a direct deduction from the carrying amount of the senior unsecured notes due 2028 in the accompanying consolidated balance sheets.

(3)As of March 31, 2024, March 31, 2023 and December 31, 2023, deferred debt issuance costs of $6.6 million, $7.6 million and $6.9 million, respectively, are included as a direct deduction from the carrying amount of the senior unsecured notes due 2030 in the accompanying consolidated balance sheets.

(4)As of March 31, 2024, deferred debt issuance costs of $9.0 million are included as a direct deduction from the carrying amount of the senior unsecured notes due 2032 in the accompanying consolidated balance sheets.

Revolving Unsecured Credit Facility

As of March 31, 2024, the Company maintained an unsecured line of credit with a group of U.S.-based commercial lenders (the “Credit Facility”) in the amount of $640.0 million. The Credit Facility matures on August 30, 2027. As of March 31, 2024, the Company had $15.0 million in outstanding borrowings and $2.8 million in outstanding letters of credit under the Credit Facility, leaving $622.2 million available for future borrowings, subject to certain financial covenants. The Credit Facility bears interest at the Company’s option of either (i) the prevailing SOFR (with interest periods of 1, 3 or 6 months at the Company’s option) plus a fixed spread of 2.5% and a fixed SOFR adjustment of 0.1% or (ii) the prevailing prime or base rate plus a fixed spread of 1.5%. The agreement has an interest rate floor of 0%. Additionally, the Company is required to pay an annual commitment fee of 0.325% on the average daily unused portion of the Credit Facility commitment. The weighted-average interest rate on amounts outstanding under the Credit Facility at March 31, 2024 was 7.92% based on 1-month SOFR. Under the terms of the Credit Facility, the Company is required to maintain certain financial ratios and comply with certain financial covenants. The Credit Facility also contains customary restrictions on the Company’s ability to incur additional debt, grant liens, make investments, consummate acquisitions and similar negative covenants with customary carve-outs and baskets. The Company was in compliance with the covenants of the Credit Facility as of March 31, 2024. During the three months ended March 31, 2024, the Company made net payments of $553.0 million pursuant to the Credit Facility.

Revolving Unsecured Uncommitted Credit Facility

As of March 31, 2024, the Company’s primary subsidiary in Mexico, First Cash S.A. de C.V., maintained an unsecured and uncommitted line of credit guaranteed by FirstCash, Inc. with a bank in Mexico (the “Mexico Credit Facility”) in the amount of $600.0 million Mexican pesos. The Mexico Credit Facility bears interest at TIIE plus a fixed spread of 2.25% and matures on August 24, 2027. Under the terms of the Mexico Credit Facility, the Company is required to maintain certain financial ratios and comply with certain financial covenants. The Company was in compliance with the covenants of the Mexico Credit Facility as of March 31, 2024. At March 31, 2024, the Company had no amount outstanding under the Mexico Credit Facility and $36.0 million ($600.0 million pesos) available for future borrowings.

Senior Unsecured Notes Due 2028

On August 26, 2020, the Company issued $500.0 million of 4.625% senior unsecured notes due on September 1, 2028 (the “2028 Notes”), all of which are currently outstanding. Interest on the 2028 Notes is payable semi-annually in arrears on March 1 and September 1. The 2028 Notes are fully and unconditionally guaranteed on a senior unsecured basis jointly and severally by all of the Company's existing and future domestic subsidiaries that guarantee its Credit Facility. The 2028 Notes will permit the Company to make restricted payments, such as purchasing shares of its stock and paying cash dividends, in an unlimited amount if, after giving pro forma effect to the incurrence of any indebtedness to make such payment, the Company's consolidated total debt ratio is less than 2.75 to 1. The consolidated total debt ratio is defined generally in the indenture governing the 2028 Notes as the ratio of (1) the total consolidated debt of the Company minus cash and cash equivalents of the Company to (2) the Company’s consolidated trailing twelve months EBITDA, as adjusted to exclude certain non-recurring expenses and giving pro forma effect to operations acquired during the measurement period. As of March 31, 2024, the Company’s consolidated total debt ratio was 2.5 to 1. While the 2028 Notes generally limit the Company’s ability to make restricted payments if the consolidated total debt ratio is greater than 2.75 to 1, restricted payments are allowable within certain permitted baskets, which currently provide the Company with continued flexibility to make restricted payments when the Company’s consolidated total debt ratio is greater than 2.75 to 1.

Senior Unsecured Notes Due 2030

On December 13, 2021, the Company issued $550.0 million of 5.625% senior unsecured notes due on January 1, 2030 (the “2030 Notes”), all of which are currently outstanding. Interest on the 2030 Notes is payable semi-annually in arrears on January 1 and July 1. The 2030 Notes are fully and unconditionally guaranteed on a senior unsecured basis jointly and severally by all of the Company's existing and future domestic subsidiaries that guarantee its Credit Facility. The 2030 Notes will permit the Company to make restricted payments, such as purchasing shares of its stock and paying cash dividends, in an unlimited amount if, after giving pro forma effect to the incurrence of any indebtedness to make such payment, the Company's consolidated total debt ratio is less than 3.0 to 1. The consolidated total debt ratio is defined generally in the indenture governing the 2030 Notes as the ratio of (1) the total consolidated debt of the Company minus cash and cash equivalents of the Company to (2) the Company’s consolidated trailing twelve months EBITDA, as adjusted to exclude certain non-recurring expenses and giving pro forma effect to operations acquired during the measurement period. As of March 31, 2024, the Company’s consolidated total debt ratio was 2.5 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.

Senior Unsecured Notes Due 2032

On February 21, 2024, the Company issued $500.0 million of 6.875% senior unsecured notes due on March 1, 2032 (the “2032 Notes”), all of which are currently outstanding. Interest on the 2032 Notes is payable semi-annually in arrears on March 1 and September 1, commencing on September 1, 2024. The 2032 Notes were sold in a private placement in reliance on Rule 144A and Regulation S under the Securities Act. The Company used the net proceeds from the offering to repay a portion of the outstanding balance on the Credit Facility, after payment of fees and expenses related to the offering. The Company capitalized $9.1 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 2032 Notes as a component of interest expense and are carried as a direct deduction from the carrying amount of the 2032 Notes in the accompanying consolidated balance sheets.

The 2032 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 2032 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 2032 Notes (the “2032 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 March 31, 2024, the Company’s consolidated total debt ratio was 2.5 to 1. While the 2032 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 2032 Notes at any time on or after March 1, 2027, at the redemption prices set forth in the 2032 Notes Indenture, plus accrued and unpaid interest, if any. In addition, prior to March 1, 2027, the Company may redeem some or all of the 2032 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 2032 Notes Indenture. The Company may redeem up to 40% of the 2032 Notes on or prior to March 1, 2027 with the proceeds of certain equity offerings at the redemption prices set forth in the 2032 Notes Indenture. If the Company or any of its restricted subsidiaries sells certain assets or if the Company consummates certain change in control transactions, the Company will be required to make an offer to repurchase the 2032 Notes.

General (Policies)	3 Months Ended
General (Policies)	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	The accompanying consolidated balance sheet as of December 31, 2023, which is derived from audited consolidated financial statements, and the unaudited consolidated financial statements, including the notes thereto, includes the accounts of FirstCash Holdings, Inc. and its wholly-owned subsidiaries (together, the “Company”). The Company regularly makes acquisitions, and the results of operations for the acquisitions have been consolidated since the acquisition dates. All significant intercompany accounts and transactions have been eliminated. These unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include certain information and disclosures required for comprehensive financial statements. These interim period financial statements should be read in conjunction with the Company’s audited consolidated financial statements, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 5, 2024. The consolidated financial statements as of March 31, 2024 and 2023, and for the three month periods ended March 31, 2024 and 2023, are unaudited, but in management’s opinion include all adjustments (consisting of only normal recurring adjustments) considered necessary to present fairly the financial position, results of operations and cash flow for such interim periods. Operating results for the period ended March 31, 2024 are not necessarily indicative of the results that may be expected for the full year. 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. The Company also has pawn operations in El Salvador, where the reporting and functional currency is the U.S. dollar.
Use of Estimates	The preparation of interim financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and related revenue and expenses, and the disclosure of gain and loss contingencies at the date of the financial statements. Such estimates and assumptions are subject to a number of risks and uncertainties, which may cause actual results to differ materially from the Company’s estimates.
Recent Accounting Pronouncements	In October 2023, the FASB issued ASU No 2023-06, “Disclosure Agreements – Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative” (“ASU 2023-06”). ASU 2023-06 will align the disclosure and presentation requirements in the FASB Accounting Standards Codification with the SEC’s regulations. The amendments in ASU 2023-06 will be applied prospectively and are effective when the SEC removes the related requirements from Regulations S-X or S-K. Any amendments the SEC does not remove by June 30, 2027 will not be effective. As the Company is currently subject to these SEC requirements, ASU 2023-06 is not expected to have a material effect on the Company’s current financial position, results of operations or financial statement disclosures. In November 2023, the FASB issued ASU No 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). ASU 2023-07 expands disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-07 should be applied retrospectively to all prior periods presented in the financial statements. The Company does not expect ASU 2023-07 to have a material effect on the Company’s current financial position, results of operations or financial statement disclosures. In December 2023, the FASB issued ASU No 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 expands disclosures in the rate reconciliation and requires disclosure of income taxes paid by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-09 should be applied prospectively; however, retrospective application is permitted. The Company does not expect ASU 2023-09 to have a material effect on the Company’s current financial position, results of operations or financial statement disclosures. In March 2024, the FASB issued ASU No 2024-02, “Codification Improvements - Amendments to Remove References to the Concepts Statements” (“ASU 2024-02”). ASU 2024-02 removes references to various Concepts Statements. In most instances, the references are extraneous and not required to understand or apply the guidance. ASU 2024-02 is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2024-02 can be applied prospectively or retrospectively. The Company adopted ASU 2024-02 effective January 1, 2024 on a prospective basis. The adoption of ASU 2024-02 did not have a material effect on the Company’s current financial position, results of operations or financial statement disclosures
Fair Value Measurement	The fair value of financial instruments is determined by reference to various market data and other valuation techniques, as appropriate. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The three fair value levels are (from highest to lowest): Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data.

Operating Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	3 years 10 months 24 days	4 years
Weighted average discount rate (as a percent)	8.20%	6.90%
Foreign currency transaction gain, before tax	$ 0.2	$ 1.2
Minimum
Lessee, Lease, Description [Line Items]
General term of leased facilities	3 years
Leased facilities renewal term	3 years
Maximum
Lessee, Lease, Description [Line Items]
General term of leased facilities	5 years
Leased facilities renewal term	5 years

Fair Value of Financial Instruments - Financial Assets and Liabilities Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finance receivables, gross	$ 222,087	$ 227,474	$ 201,288
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	135,070	127,018	100,795
Accounts receivable, net	69,703	71,922	56,357
Total assets	766,505	784,687	636,942
Total liabilities	1,565,000	1,618,000	1,358,000
Carrying Value \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	15,000	568,000	308,000
Carrying Value \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	1,550,000	1,050,000	1,050,000
Carrying Value \| Pawn loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, fair value disclosure	456,079	471,846	377,697
Carrying Value \| Financing Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, fair value disclosure	105,653	113,901	102,093
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	135,070	127,018	100,795
Accounts receivable, net	69,703	71,922	56,357
Total assets	888,774	898,518	749,055
Total liabilities	1,504,000	1,555,000	1,258,000
Estimated Fair Value \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	15,000	568,000	308,000
Estimated Fair Value \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	1,489,000	987,000	950,000
Estimated Fair Value \| Pawn loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, fair value disclosure	456,079	471,846	377,697
Estimated Fair Value \| Financing Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, fair value disclosure	227,922	227,732	214,206
Estimated Fair Value \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	135,070	127,018	100,795
Accounts receivable, net	0	0	0
Total assets	135,070	127,018	100,795
Total liabilities	0	0	0
Estimated Fair Value \| Level 1 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0	0
Estimated Fair Value \| Level 1 \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0	0
Estimated Fair Value \| Level 1 \| Pawn loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, fair value disclosure	0	0	0
Estimated Fair Value \| Level 1 \| Financing Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, fair value disclosure	0	0	0
Estimated Fair Value \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0	0
Accounts receivable, net	0	0	0
Total assets	0	0	0
Total liabilities	1,504,000	1,555,000	1,258,000
Estimated Fair Value \| Level 2 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	15,000	568,000	308,000
Estimated Fair Value \| Level 2 \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	1,489,000	987,000	950,000
Estimated Fair Value \| Level 2 \| Pawn loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, fair value disclosure	0	0	0
Estimated Fair Value \| Level 2 \| Financing Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, fair value disclosure	0	0	0
Estimated Fair Value \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0	0
Accounts receivable, net	69,703	71,922	56,357
Total assets	753,704	771,500	648,260
Total liabilities	0	0	0
Estimated Fair Value \| Level 3 \| Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0	0
Estimated Fair Value \| Level 3 \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	0	0
Estimated Fair Value \| Level 3 \| Pawn loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, fair value disclosure	456,079	471,846	377,697
Estimated Fair Value \| Level 3 \| Financing Receivable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, fair value disclosure	$ 227,922	$ 227,732	$ 214,206

Fair Value of Financial Instruments - Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability Fair Value Disclosure	$ 0	$ 0
AFF
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	50,000
Estimated Fair Value \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability Fair Value Disclosure	0
Estimated Fair Value \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability Fair Value Disclosure	0
Estimated Fair Value \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability Fair Value Disclosure	$ 0

Leased Merchandise, Net - (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leased Merchandise, Allowance for Credit loss Roll Forward [Roll Forward]
Balance at beginning of period	$ 95,127	$ 79,189
Provision for lease losses	43,010	49,065
Charge-offs	(44,877)	(36,778)
Recoveries	2,003	1,673
Balance at end of period	$ 95,263	$ 93,149

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	None of the Company’s directors or officers adopted, modified or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement, as such terms are defined under Item 408(a) of Regulation S-K, during the first quarter of 2024, except as follows:
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rick L. Wessel [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On March 12, 2024, Rick L. Wessel, Vice Chairman of the Board and Chief Executive Officer, adopted a written plan for the sale of up to 120,000 shares of the Company’s common stock that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act of 1934. The plan will expire on November 21, 2025, or on any earlier date on which all of the shares have been sold.
Name	Rick L. Wessel
Title	Vice Chairman of the Board and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 12, 2024
Termination Date	November 21, 2025
Arrangement Duration	619 days
Aggregate Available	120,000
AFF Services, Inc. [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On February 5, 2024, AFF Services, Inc., adopted a non-Rule 10b5-1 trading plan as defined in Item 408(c) of Regulation S-K. The arrangement provided for the sale of up to 881,567 shares of the Company’s common stock and it terminated on March 15, 2024. The trading arrangement was adopted during an open trading window and satisfied the Company’s policies regarding insider transactions. AFF Services, Inc. is partially owned and 100% controlled by the Douglas R. Rippel Revocable Trust (the “Trust”). Douglas R. Rippel, a member of the Company’s board of directors, is a co-trustee of the Trust and an indirect beneficial owner of the shares held by AFF Services, Inc.
Name	AFF Services, Inc.
Title	member of the Company’s board of directors
Adoption Date	February 5, 2024
Termination Date	March 15, 2024
Arrangement Duration	39 days
Aggregate Available	881,567

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 61,368	$ 47,388
Other comprehensive income:
Currency translation adjustment	6,335	29,513
Comprehensive income	$ 67,703	$ 76,901

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Long-Term Debt - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Feb. 21, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 13, 2021	Aug. 26, 2020
Debt Instrument [Line Items]
Total long-term debt	$ 1,544,147		$ 1,605,647	$ 1,344,176
Line of Credit
Debt Instrument [Line Items]
Total long-term debt	15,000		568,000	308,000
Senior Notes
Debt Instrument [Line Items]
Total long-term debt	1,529,147		1,037,647	1,036,176
Revolving Unsecured Credit Facility due 2027 \| Line of Credit
Debt Instrument [Line Items]
Total long-term debt	15,000		568,000	308,000
Revolving Unsecured Uncommitted Credit Facility due 2027 \| Line of Credit
Debt Instrument [Line Items]
Total long-term debt	$ 0		0	0
4.625% senior unsecured notes due 2028 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.625%					4.625%
Total long-term debt	$ 494,763		494,499	493,727
Deferred finance costs, net	$ 5,200		5,500	6,300
5.625% Senior Unsecured Notes due 2030 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.625%				5.625%
Total long-term debt	$ 543,388		543,148	542,449
Deferred finance costs, net	$ 6,600		6,900	7,600
6.875% Senior Unsecured Notes due 2032 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	6.875%	6.875%
Total long-term debt	$ 490,996		$ 0	$ 0
Deferred finance costs, net	$ 9,000	$ 9,100

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company, in the ordinary course of business, is a party to various legal and regulatory proceedings and other general claims. Although no assurances can be given, in management’s opinion, such outstanding proceedings are not expected to have a material adverse effect on the Company’s financial position, results of operations, or cash flows. The Company believes it has meritorious defenses to all of the claims described below and intends to vigorously defend itself against such claims. However, legal and regulatory proceedings involve an inherent level of uncertainty and no assurances can be given regarding the ultimate outcome of any such matters or whether an adverse outcome would not have a material adverse impact on the Company’s financial position, results of operations, or cash flows. At this stage, the Company is unable to determine whether a future loss will be incurred for any of its material outstanding legal and regulatory proceedings or to estimate a range of loss with respect to such proceeding, if any, and accordingly, no material amounts have been accrued in the Company’s financial statements for legal and regulatory proceedings. On November 12, 2021, the 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 Military Lending Act (“MLA”) in connection with pawn transactions. The CFPB also alleges that these same alleged violations of the MLA constitute breaches of a 2013 CFPB consent order entered into by its predecessor company that, among other things, allegedly required the company and its successors to cease and desist from further MLA violations. The CFPB is seeking an injunction, redress for affected borrowers and a civil monetary penalty. On March 28, 2022, the CFPB filed a motion to strike certain affirmative defenses of the Company. The Company responded by filing a motion for partial summary judgment. On October 24, 2022, the Company filed a motion to dismiss the lawsuit on the basis that the funding structure of the CFPB is unconstitutional. This motion to dismiss follows the decision in another case by the Fifth Circuit Court of Appeals which found that the CFPB is unconstitutionally structured. The Fifth Circuit’s decisions govern the law applied in the jurisdiction in which the CFPB action is pending against the Company. In light of the CFPB's stated intent to seek Supreme Court review of that decision, the parties stipulated to a stay of the action against the Company, which the Court entered on November 4, 2022. The Supreme Court is currently reviewing the Fifth Circuit's decision, with oral arguments having been completed on October 3, 2023. The stay of the CFPB’s action against the Company will remain in effect until the Supreme Court issues its decision with respect to the appeal. If the Supreme Court decides in favor of the CFPB, the stay will be lifted and the Company and the CFPB will continue to litigate the civil action brought against the Company by the CFPB. Gold Forward Sales Contracts As of March 31, 2024, the Company had contractual commitments to deliver a total of 83,000 gold ounces during the months of April 2024 and February 2026 at a weighted-average price of $2,110 per ounce. The ounces required to be delivered over this time period are within historical scrap gold volumes, and the Company expects to have the required gold ounces to meet the commitments as they come due.

Finance Receivables, Net - Aging of Finance Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			$ 190,703
Finance receivables, amortized cost	$ 201,673	$ 210,355	190,703
Year 2023
Financing Receivable, Past Due [Line Items]
Finance receivables, amortized cost	75,422
Year 2022
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			76,351
Finance receivables, amortized cost			115,064
Year 2021
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			100,615
Finance receivables, amortized cost				$ 11,187
Year 2020
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			13,737
Financial Asset, 1 to 29 Days Past Due
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			16,739
Finance receivables, amortized cost	20,113
Financial Asset, 1 to 29 Days Past Due \| Year 2023
Financing Receivable, Past Due [Line Items]
Finance receivables, amortized cost	6,215
Financial Asset, 1 to 29 Days Past Due \| Year 2022
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			5,509
Finance receivables, amortized cost			12,594
Financial Asset, 1 to 29 Days Past Due \| Year 2021
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			9,822
Finance receivables, amortized cost				1,304
Financial Asset, 1 to 29 Days Past Due \| Year 2020
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			1,408
Financial Asset, 30 to 59 Days Past Due
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			8,665
Finance receivables, amortized cost	10,180
Financial Asset, 30 to 59 Days Past Due \| Year 2023
Financing Receivable, Past Due [Line Items]
Finance receivables, amortized cost	1,950
Financial Asset, 30 to 59 Days Past Due \| Year 2022
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			1,632
Finance receivables, amortized cost			7,526
Financial Asset, 30 to 59 Days Past Due \| Year 2021
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			6,163
Finance receivables, amortized cost				704
Financial Asset, 30 to 59 Days Past Due \| Year 2020
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			870
Financial Asset, 60 to 89 Days Past Due
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			7,784
Finance receivables, amortized cost	8,734
Financial Asset, 60 to 89 Days Past Due \| Year 2023
Financing Receivable, Past Due [Line Items]
Finance receivables, amortized cost	453
Financial Asset, 60 to 89 Days Past Due \| Year 2022
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			419
Finance receivables, amortized cost			7,584
Financial Asset, 60 to 89 Days Past Due \| Year 2021
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			6,507
Finance receivables, amortized cost				697
Financial Asset, 60 to 89 Days Past Due \| Year 2020
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			858
Total past due
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			33,188
Finance receivables, amortized cost	39,027
Total past due \| Year 2023
Financing Receivable, Past Due [Line Items]
Finance receivables, amortized cost	8,618
Total past due \| Year 2022
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			7,560
Finance receivables, amortized cost			27,704
Total past due \| Year 2021
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			22,492
Finance receivables, amortized cost				2,705
Total past due \| Year 2020
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			3,136
Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			157,515
Finance receivables, amortized cost	162,646
Financial Asset, Not Past Due \| Year 2023
Financing Receivable, Past Due [Line Items]
Finance receivables, amortized cost	$ 66,804
Financial Asset, Not Past Due \| Year 2022
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			68,791
Finance receivables, amortized cost			87,360
Financial Asset, Not Past Due \| Year 2021
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			78,123
Finance receivables, amortized cost				$ 8,482
Financial Asset, Not Past Due \| Year 2020
Financing Receivable, Past Due [Line Items]
Finance receivable, before allowance for credit loss, premium and discount			$ 10,601

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

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Cash flow from operating activities:

Net income

$ 61,368

$ 47,388

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

Depreciation of leased merchandise

120,284

101,605

Provision for lease losses

43,010

49,065

Provision for loan losses

30,418

29,285

Share-based compensation expense

4,101

3,375

Depreciation and amortization expense

26,027

27,111

Amortization of debt issuance costs

819

692

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

(6,859)

(3,344)

Impairments and dispositions of certain other assets

461

Deferred income taxes, net

(2,421)

(5,732)

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

Accounts receivable, net

2,491

2,484

Inventories purchased directly from customers, wholesalers or manufacturers

3,912

12,819

Leased merchandise, net

(149,888)

(146,222)

Prepaid expenses and other assets

1,935

(2,138)

Accounts payable, accrued liabilities and other liabilities

(31,722)

(20,992)

Income taxes

18,596

15,153

Net cash flow provided by operating activities

122,532

110,594

Cash flow from investing activities:

Pawn loans, net

^[1]

25,149

44,358

Finance receivables, net

(15,311)

(24,540)

Purchases of furniture, fixtures, equipment and improvements

(26,427)

(13,828)

Purchases of store real property

(11,340)

(17,483)

Acquisitions of pawn stores, net of cash acquired

(1,705)

(1,746)

Net cash flow used in investing activities

(29,634)

(13,239)

Cash flow from financing activities:

Borrowings from unsecured credit facilities

50,000

73,000

Repayments of unsecured credit facilities

(603,000)

(104,000)

Issuance of senior unsecured notes

500,000

Debt issuance costs paid

(9,094)

Purchases of treasury stock

(67,227)

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

(7,007)

(2,463)

Dividends paid

(15,833)

(15,294)

Net cash flow used in financing activities

(84,934)

(115,984)

Effect of exchange rates on cash

2,094

Change in cash and cash equivalents

8,052

(16,535)

Cash and cash equivalents at beginning of the period

127,018

117,330

Cash and cash equivalents at end of the period

$ 135,070

$ 100,795

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

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

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

The Company did not have any financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023. The Company’s financial assets and liabilities as of March 31, 2023 that are measured at fair value on a recurring basis are as follows (in thousands):

Estimated Fair Value

Fair Value Measurements Using

Level 1

Level 2

Level 3

Financial liabilities (1):

Contingent consideration as of March 31, 2023

—

(1)As of March 31, 2023, under the American First Finance (“AFF”) purchase agreement, the seller parties had the right to receive up to $50.0 million of additional consideration if AFF achieved certain adjusted EBITDA targets for the first half of 2023. The Company revalues this 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.

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

The changes in financial assets and liabilities that are measured and recorded at fair value on a recurring basis using Level 3 fair value measurements for the three months ended March 31, 2023 are as follows (in thousands):


	Three Months Ended
	March 31, 2023
Contingent consideration at beginning of the period	$	—
Change in fair value	—
Contingent consideration at end of the period	$	—

Schedule of Fair Value by Balance Sheet Grouping

The Company’s financial assets and liabilities as of March 31, 2024, March 31, 2023 and December 31, 2023 that are not measured at fair value in the consolidated balance sheets are as follows (in thousands):


	Carrying Value		Estimated Fair Value
	March 31,		March 31,		Fair Value Measurements Using
	2024		2024		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	135,070	$	135,070	$	135,070	$	—	$	—
Accounts receivable, net	69,703		69,703		—		—		69,703
Pawn loans	456,079		456,079		—		—		456,079
Finance receivables, net (1)	105,653		227,922		—		—		227,922
	$	766,505	$	888,774	$	135,070	$	—	$	753,704

Financial liabilities:
Revolving unsecured credit facilities	$	15,000	$	15,000	$	—	$	15,000	$	—
Senior unsecured notes (outstanding principal)	1,550,000		1,489,000		—		1,489,000		—
	$	1,565,000	$	1,504,000	$	—	$	1,504,000	$	—

(1)Finance receivables, gross as of March 31, 2024 was $222.1 million. See Note 5.


	Carrying Value		Estimated Fair Value
	March 31,		March 31,		Fair Value Measurements Using
	2023		2023		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	100,795	$	100,795	$	100,795	$	—	$	—
Accounts receivable, net	56,357		56,357		—		—		56,357
Pawn loans	377,697		377,697		—		—		377,697
Finance receivables, net (1)	102,093		214,206		—		—		214,206
	$	636,942	$	749,055	$	100,795	$	—	$	648,260

Financial liabilities:
Revolving unsecured credit facilities	$	308,000	$	308,000	$	—	$	308,000	$	—
Senior unsecured notes (outstanding principal)	1,050,000		950,000		—		950,000		—
	$	1,358,000	$	1,258,000	$	—	$	1,258,000	$	—

(1)Finance receivables, gross as of March 31, 2023 was $201.3 million. See Note 5.


	Carrying Value		Estimated Fair Value
	December 31,		December 31,		Fair Value Measurements Using
	2023		2023		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	127,018	$	127,018	$	127,018	$	—	$	—
Accounts receivable, net	71,922		71,922		—		—		71,922
Pawn loans	471,846		471,846		—		—		471,846
Finance receivables, net (1)	113,901		227,732		—		—		227,732
	$	784,687	$	898,518	$	127,018	$	—	$	771,500

Financial liabilities:
Revolving unsecured credit facilities	$	568,000	$	568,000	$	—	$	568,000	$	—
Senior unsecured notes (outstanding principal)	1,050,000		987,000		—		987,000		—
	$	1,618,000	$	1,555,000	$	—	$	1,555,000	$	—

Operating Leases - Lease Maturities (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Leases [Abstract]
Nine months ending December 31, 2024	$ 94,112
46022	98,976
46387	74,162
46752	46,168
47117	23,853
Thereafter	24,406
Total	361,677
Less amount of lease payments representing interest	(51,595)
Total present value of lease payments	$ 310,082

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings per Share

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


	Three Months Ended
	March 31,
	2024		2023
Numerator:
Net income	$	61,368	$	47,388



Denominator:
Weighted-average common shares for calculating basic earnings per share	45,244		46,147
Effect of dilutive securities:
Restricted stock unit awards	143		165
Weighted-average common shares for calculating diluted earnings per share	45,387		46,312

Earnings per share:
Basic	$	1.36	$	1.03
Diluted	$	1.35	$	1.02

Earnings Per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share

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


	Three Months Ended
	March 31,
	2024		2023
Numerator:
Net income	$	61,368	$	47,388



Denominator:
Weighted-average common shares for calculating basic earnings per share	45,244		46,147
Effect of dilutive securities:
Restricted stock unit awards	143		165
Weighted-average common shares for calculating diluted earnings per share	45,387		46,312

Earnings per share:
Basic	$	1.36	$	1.03
Diluted	$	1.35	$	1.02

Segment Information

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Information

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

•U.S. pawn

•Latin America pawn

•Retail POS payment solutions (AFF)

Corporate expenses and income, which include administrative expenses, corporate depreciation and amortization, interest expense, interest income, gain on foreign exchange, merger and acquisition expenses, and other expenses (income), net, are presented on a consolidated basis and are not allocated between the U.S. pawn segment, Latin America pawn segment or retail POS payment solutions segment. Intersegment transactions relate to the Company offering AFF’s LTO payment solution in its U.S. pawn stores and are eliminated to arrive at consolidated totals.

The following tables present reportable segment information for the three month period ended March 31, 2024 and 2023 as well as segment earning assets (in thousands):


	Three Months Ended March 31, 2024
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate/ Eliminations			Consolidated
Revenue:
Retail merchandise sales	$	236,990	$	130,849	$	—	$	(1,018)	(1)	$	366,821
Pawn loan fees	122,974		56,561		—		—			179,535
Leased merchandise income	—		—		205,671		—			205,671
Interest and fees on finance receivables	—		—		57,387		—			57,387
Wholesale scrap jewelry sales	17,726		9,230		—		—			26,956
Total revenue	377,690		196,640		263,058		(1,018)			836,370

Cost of revenue:
Cost of retail merchandise sold	139,914		84,183		—		(568)		(1)	223,529
Depreciation of leased merchandise	—		—		120,774		(490)		(1)	120,284
Provision for lease losses	—		—		43,180		(170)		(1)	43,010
Provision for loan losses	—		—		30,418		—			30,418
Cost of wholesale scrap jewelry sold	15,266		8,023		—		—			23,289
Total cost of revenue	155,180		92,206		194,372		(1,228)			440,530

Net revenue	222,510		104,434		68,686		210			395,840

Expenses and other income:
Operating expenses	118,895		67,425		34,816		—			221,136
Administrative expenses	—		—		—		43,057			43,057
Depreciation and amortization	7,013		5,105		721		13,188			26,027
Interest expense	—		—		—		25,418			25,418
Interest income	—		—		—		(743)			(743)
Gain on foreign exchange	—		—		—		(186)			(186)
Merger and acquisition expenses	—		—		—		597			597
Other expenses (income), net	—		—		—		(1,351)			(1,351)

Total expenses and other income	125,908		72,530		35,537		79,980			313,955

Income (loss) before income taxes	$	96,602	$	31,904	$	33,149	$	(79,770)		$	81,885

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.


	As of March 31, 2024
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate/ Eliminations			Consolidated
Earning assets:
Pawn loans	$	315,792	$	140,287	$	—	$	—		$	456,079
Finance receivables, net	—		—		105,653		—			105,653
Inventories	216,762		85,623		—		—			302,385
Leased merchandise, net	—		—		158,090		(305)		(1)	157,785

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.


	Three Months Ended March 31, 2023
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate/ Eliminations			Consolidated
Revenue:
Retail merchandise sales	$	210,681	$	118,937	$	—	$	(1,703)	(1)	$	327,915
Pawn loan fees	102,684		48,876		—		—			151,560
Leased merchandise income	—		—		183,438		—			183,438
Interest and fees on finance receivables	—		—		54,642		—			54,642
Wholesale scrap jewelry sales	26,316		18,868		—		—			45,184
Total revenue	339,681		186,681		238,080		(1,703)			762,739

Cost of revenue:
Cost of retail merchandise sold	121,929		77,963		—		(891)		(1)	199,001
Depreciation of leased merchandise	—		—		102,172		(567)		(1)	101,605
Provision for lease losses	—		—		49,166		(101)		(1)	49,065
Provision for loan losses	—		—		29,285		—			29,285
Cost of wholesale scrap jewelry sold	21,082		14,645		—		—			35,727
Total cost of revenue	143,011		92,608		180,623		(1,559)			414,683

Net revenue (loss)	196,670		94,073		57,457		(144)			348,056

Expenses and other income:
Operating expenses	109,781		55,756		33,524		—			199,061
Administrative expenses	—		—		—		39,017			39,017
Depreciation and amortization	5,870		5,445		736		15,060			27,111
Interest expense	—		—		—		20,897			20,897
Interest income	—		—		—		(517)			(517)
Gain on foreign exchange	—		—		—		(802)			(802)
Merger and acquisition expenses	—		—		—		31			31
Other expenses (income), net	—		—		—		45			45

Total expenses and other income	115,651		61,201		34,260		73,731			284,843

Income (loss) before income taxes	$	81,019	$	32,872	$	23,197	$	(73,875)		$	63,213

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.


	As of March 31, 2023
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate/ Eliminations			Consolidated
Earning assets:
Pawn loans	$	256,773	$	120,924	$	—	$	—		$	377,697
Finance receivables, net	—		—		102,093		—			102,093
Inventories	178,587		79,016		—		—			257,603
Leased merchandise, net	—		—		150,094		(1,240)		(1)	148,854

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Finance Receivables, Net (Tables)

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Schedule of Finance Receivables, Net

Finance receivables, net, which include retail installment sales agreements and bank-originated loans, consist of the following (in thousands):


	As of March 31,				As of December 31,
	2024		2023		2023
Finance receivables, gross	$	222,087	$	201,288	$	227,474

Merchant partner discounts and premiums, net	(15,221)		(6,328)		(11,907)
Unearned origination fees	(5,193)		(4,257)		(5,212)
Finance receivables, amortized cost	201,673		190,703		210,355
Less allowance for loan losses	(96,020)		(88,610)		(96,454)
Finance receivables, net	$	105,653	$	102,093	$	113,901

Schedule of Allowance for Credit Losses

The following table details the changes in the allowance for loan losses (in thousands):


	Three Months Ended
	March 31,
	2024		2023
Balance at beginning of period	$	96,454	$	84,833
Provision for loan losses	30,418		29,285

Charge-offs	(33,279)		(27,117)
Recoveries	2,427		1,609
Balance at end of period	$	96,020	$	88,610

Schedule of Finance Receivables Credit Quality Indicators

The following is an assessment of the credit quality indicators of the amortized cost of finance receivables as of March 31, 2024 and 2023, by origination year (in thousands):


	Origination Year
	2024		2023		2022		Total
As of March 31, 2024
Delinquency:
1 to 30 days past due	$	6,215	$	12,594	$	1,304	$	20,113
31 to 60 days past due	1,950		7,526		704		10,180
61 to 89 days past due (1)	453		7,584		697		8,734
Total past due finance receivables	8,618		27,704		2,705		39,027
Current finance receivables	66,804		87,360		8,482		162,646
Finance receivables, amortized cost	$	75,422	$	115,064	$	11,187	$	201,673


	Origination Year
	2023		2022		2021		Total
As of March 31, 2023
Delinquency:
1 to 30 days past due	$	5,509	$	9,822	$	1,408	$	16,739
31 to 60 days past due	1,632		6,163		870		8,665
61 to 89 days past due (1)	419		6,507		858		7,784
Total past due finance receivables	7,560		22,492		3,136		33,188
Current finance receivables	68,791		78,123		10,601		157,515
Finance receivables, amortized cost	$	76,351	$	100,615	$	13,737	$	190,703

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

Finance Receivable, Charge-offs to allowance for credit losses

The following table details the gross charge-offs of finance receivables for the three months ended March 31, 2024 and 2023, by origination year (in thousands):


	Origination Year
	2024		2023		2022		2021		Total
Finance receivables gross charge-offs:
Gross charge-offs during the three months ended March 31, 2024	$	131	$	29,270	$	3,878	$	—	$	33,279

Gross charge-offs during the three months ended March 31, 2023	—		187		22,444		4,486		27,117

Finance Receivables, Net

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Finance Receivables, Net

Finance receivables, net, which include retail installment sales agreements and bank-originated loans, consist of the following (in thousands):


	As of March 31,				As of December 31,
	2024		2023		2023
Finance receivables, gross	$	222,087	$	201,288	$	227,474

Merchant partner discounts and premiums, net	(15,221)		(6,328)		(11,907)
Unearned origination fees	(5,193)		(4,257)		(5,212)
Finance receivables, amortized cost	201,673		190,703		210,355
Less allowance for loan losses	(96,020)		(88,610)		(96,454)
Finance receivables, net	$	105,653	$	102,093	$	113,901

The following table details the changes in the allowance for loan losses (in thousands):


	Three Months Ended
	March 31,
	2024		2023
Balance at beginning of period	$	96,454	$	84,833
Provision for loan losses	30,418		29,285

Charge-offs	(33,279)		(27,117)
Recoveries	2,427		1,609
Balance at end of period	$	96,020	$	88,610

The following is an assessment of the credit quality indicators of the amortized cost of finance receivables as of March 31, 2024 and 2023, by origination year (in thousands):


	Origination Year
	2024		2023		2022		Total
As of March 31, 2024
Delinquency:
1 to 30 days past due	$	6,215	$	12,594	$	1,304	$	20,113
31 to 60 days past due	1,950		7,526		704		10,180
61 to 89 days past due (1)	453		7,584		697		8,734
Total past due finance receivables	8,618		27,704		2,705		39,027
Current finance receivables	66,804		87,360		8,482		162,646
Finance receivables, amortized cost	$	75,422	$	115,064	$	11,187	$	201,673


	Origination Year
	2023		2022		2021		Total
As of March 31, 2023
Delinquency:
1 to 30 days past due	$	5,509	$	9,822	$	1,408	$	16,739
31 to 60 days past due	1,632		6,163		870		8,665
61 to 89 days past due (1)	419		6,507		858		7,784
Total past due finance receivables	7,560		22,492		3,136		33,188
Current finance receivables	68,791		78,123		10,601		157,515
Finance receivables, amortized cost	$	76,351	$	100,615	$	13,737	$	190,703

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

The following table details the gross charge-offs of finance receivables for the three months ended March 31, 2024 and 2023, by origination year (in thousands):


	Origination Year
	2024		2023		2022		2021		Total
Finance receivables gross charge-offs:
Gross charge-offs during the three months ended March 31, 2024	$	131	$	29,270	$	3,878	$	—	$	33,279

Gross charge-offs during the three months ended March 31, 2023	—		187		22,444		4,486		27,117

Segment Information (Details) $ in Thousands	3 Months Ended
Segment Information (Details) $ in Thousands	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Schedule of Revenues from External Customers [Line Items]
Number of reportable segments \| segment	3
Revenue:
Retail merchandise sales	$ 366,821	$ 327,915
Pawn loan fees	179,535	151,560
Leased merchandise income	205,671	183,438
Interest and fees on finance receivables	57,387	54,642
Wholesale scrap jewelry sales	26,956	45,184
Total revenue	836,370	762,739
Cost of revenue:
Cost of retail merchandise sold	223,529	199,001
Depreciation of leased merchandise	120,284	101,605
Provision for lease losses	43,010	49,065
Provision for loan losses	30,418	29,285
Cost of wholesale scrap jewelry sold	23,289	35,727
Total cost of revenue	440,530	414,683
Net revenue	395,840	348,056
Expenses and other income:
Operating expenses	221,136	199,061
Administrative expenses	43,057	39,017
Depreciation and amortization	26,027	27,111
Interest expense	25,418	20,897
Interest income	(743)	(517)
Gain on foreign exchange	(186)	(802)
Merger and acquisition expenses	597	31
Other expenses (income), net	(1,351)	45
Total expenses and other income	313,955	284,843
Income (loss) before income taxes	81,885	63,213
Pawn loans	456,079	377,697	$ 471,846
Finance receivables, net	105,653	102,093	113,901
Inventories	302,385	257,603	312,089
Leased merchandise, net	157,785	148,854	$ 171,191
Corporate/ Eliminations
Revenue:
Retail merchandise sales	(1,018)	(1,703)
Pawn loan fees	0	0
Leased merchandise income	0	0
Interest and fees on finance receivables	0	0
Wholesale scrap jewelry sales	0	0
Total revenue	(1,018)	(1,703)
Cost of revenue:
Cost of retail merchandise sold	(568)	(891)
Depreciation of leased merchandise	(490)	(567)
Provision for lease losses	(170)	(101)
Provision for loan losses	0	0
Cost of wholesale scrap jewelry sold	0	0
Total cost of revenue	(1,228)	(1,559)
Net revenue	210	(144)
Expenses and other income:
Operating expenses	0	0
Administrative expenses	43,057	39,017
Depreciation and amortization	13,188	15,060
Interest expense	25,418	20,897
Interest income	(743)	(517)
Gain on foreign exchange	(186)	(802)
Merger and acquisition expenses	597	31
Other expenses (income), net	(1,351)	45
Total expenses and other income	79,980	73,731
Income (loss) before income taxes	(79,770)	(73,875)
Pawn loans	0	0
Finance receivables, net	0	0
Inventories	0	0
Leased merchandise, net	(305)	(1,240)
Operating Segments \| UNITED STATES \| Retail POS Payment Solutions
Revenue:
Retail merchandise sales	0	0
Pawn loan fees	0	0
Leased merchandise income	205,671	183,438
Interest and fees on finance receivables	57,387	54,642
Wholesale scrap jewelry sales	0	0
Total revenue	263,058	238,080
Cost of revenue:
Cost of retail merchandise sold	0	0
Depreciation of leased merchandise	120,774	102,172
Provision for lease losses	43,180	49,166
Provision for loan losses	30,418	29,285
Cost of wholesale scrap jewelry sold	0	0
Total cost of revenue	194,372	180,623
Net revenue	68,686	57,457
Expenses and other income:
Operating expenses	34,816	33,524
Administrative expenses	0	0
Depreciation and amortization	721	736
Interest expense	0	0
Interest income	0	0
Gain on foreign exchange	0	0
Merger and acquisition expenses	0	0
Other expenses (income), net	0	0
Total expenses and other income	35,537	34,260
Income (loss) before income taxes	33,149	23,197
Pawn loans	0	0
Finance receivables, net	105,653	102,093
Inventories	0	0
Leased merchandise, net	158,090	150,094
Operating Segments \| UNITED STATES \| Pawn Segment
Revenue:
Retail merchandise sales	236,990	210,681
Pawn loan fees	122,974	102,684
Leased merchandise income	0	0
Interest and fees on finance receivables	0	0
Wholesale scrap jewelry sales	17,726	26,316
Total revenue	377,690	339,681
Cost of revenue:
Cost of retail merchandise sold	139,914	121,929
Depreciation of leased merchandise	0	0
Provision for lease losses	0	0
Provision for loan losses	0	0
Cost of wholesale scrap jewelry sold	15,266	21,082
Total cost of revenue	155,180	143,011
Net revenue	222,510	196,670
Expenses and other income:
Operating expenses	118,895	109,781
Administrative expenses	0	0
Depreciation and amortization	7,013	5,870
Interest expense	0	0
Interest income	0	0
Gain on foreign exchange	0	0
Merger and acquisition expenses	0	0
Other expenses (income), net	0	0
Total expenses and other income	125,908	115,651
Income (loss) before income taxes	96,602	81,019
Pawn loans	315,792	256,773
Finance receivables, net	0	0
Inventories	216,762	178,587
Leased merchandise, net	0	0
Operating Segments \| Latin America \| Latin America Pawn Segment
Revenue:
Retail merchandise sales	130,849	118,937
Pawn loan fees	56,561	48,876
Leased merchandise income	0	0
Interest and fees on finance receivables	0	0
Wholesale scrap jewelry sales	9,230	18,868
Total revenue	196,640	186,681
Cost of revenue:
Cost of retail merchandise sold	84,183	77,963
Depreciation of leased merchandise	0	0
Provision for lease losses	0	0
Provision for loan losses	0	0
Cost of wholesale scrap jewelry sold	8,023	14,645
Total cost of revenue	92,206	92,608
Net revenue	104,434	94,073
Expenses and other income:
Operating expenses	67,425	55,756
Administrative expenses	0	0
Depreciation and amortization	5,105	5,445
Interest expense	0	0
Interest income	0	0
Gain on foreign exchange	0	0
Merger and acquisition expenses	0	0
Other expenses (income), net	0	0
Total expenses and other income	72,530	61,201
Income (loss) before income taxes	31,904	32,872
Pawn loans	140,287	120,924
Finance receivables, net	0	0
Inventories	85,623	79,016
Leased merchandise, net	$ 0	$ 0

Finance Receivables, Charge - offs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Finance Receivable Charge-offs to Allowance for credit losses [Line Items]
Financing receivable, allowance for credit loss, writeoff	$ 33,279	$ 27,117
Year 2024
Schedule of Finance Receivable Charge-offs to Allowance for credit losses [Line Items]
Financing receivable, allowance for credit loss, writeoff	131	0
Year 2023
Schedule of Finance Receivable Charge-offs to Allowance for credit losses [Line Items]
Financing receivable, allowance for credit loss, writeoff	29,270	187
Year 2022
Schedule of Finance Receivable Charge-offs to Allowance for credit losses [Line Items]
Financing receivable, allowance for credit loss, writeoff	3,878	22,444
Year 2021
Schedule of Finance Receivable Charge-offs to Allowance for credit losses [Line Items]
Financing receivable, allowance for credit loss, writeoff	$ 0	$ 4,486

Operating Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating lease expense	$ 36,919	$ 33,540
Variable lease expense	5,021	4,472
Total operating lease expense	$ 41,940	$ 38,012

Leased Merchandise, Net (Tables)

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Leased Merchandise, Net

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


	As of March 31,				As of December 31,
	2024		2023		2023
Leased merchandise	$	369,298	$	349,648	$	384,129
Processing fees	(4,022)		(4,341)		(4,348)
Merchant partner discounts and premiums, net	2,203		2,693		2,501
Accumulated depreciation	(114,431)		(105,997)		(115,964)
Leased merchandise, before allowance for lease losses	253,048		242,003		266,318
Less allowance for lease losses	(95,263)		(93,149)		(95,127)
Leased merchandise, net	$	157,785	$	148,854	$	171,191

Leased Merchandise, Allowance for Credit Loss

The following table details the changes in the allowance for lease losses (in thousands):


	Three Months Ended
	March 31,
	2024		2023
Balance at beginning of period	$	95,127	$	79,189
Provision for lease losses	43,010		49,065
Charge-offs	(44,877)		(36,778)
Recoveries	2,003		1,673
Balance at end of period	$	95,263	$	93,149

Operating Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Schedule of Lease Expense and Supplemental Cash Flow Information

The following table details the components of lease expense included in operating expenses in the consolidated statements of income during the three months ended March 31, 2024 and 2023 (in thousands):


	Three Months Ended
	March 31,
	2024		2023
Operating lease expense	$	36,919	$	33,540
Variable lease expense (1)	5,021		4,472
Total operating lease expense	$	41,940	$	38,012

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

The following table details supplemental cash flow information related to operating leases for the three months ended March 31, 2024 and 2023 (in thousands):


	Three Months Ended
	March 31,
	2024		2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	33,439	$	30,146
Leased assets obtained in exchange for new operating lease liabilities	$	19,924	$	19,734

Schedule of Maturity of Lease Liabilities

The following table details the maturity of lease liabilities for all operating leases as of March 31, 2024 (in thousands):


Nine months ending December 31, 2024	$	94,112
2025	98,976
2026	74,162
2027	46,168
2028	23,853
Thereafter	24,406
Total	$	361,677
Less amount of lease payments representing interest	(51,595)
Total present value of lease payments	$	310,082

Leased Merchandise, Net

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Leased Merchandise, Net

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


	As of March 31,				As of December 31,
	2024		2023		2023
Leased merchandise	$	369,298	$	349,648	$	384,129
Processing fees	(4,022)		(4,341)		(4,348)
Merchant partner discounts and premiums, net	2,203		2,693		2,501
Accumulated depreciation	(114,431)		(105,997)		(115,964)
Leased merchandise, before allowance for lease losses	253,048		242,003		266,318
Less allowance for lease losses	(95,263)		(93,149)		(95,127)
Leased merchandise, net	$	157,785	$	148,854	$	171,191

The following table details the changes in the allowance for lease losses (in thousands):


	Three Months Ended
	March 31,
	2024		2023
Balance at beginning of period	$	95,127	$	79,189
Provision for lease losses	43,010		49,065
Charge-offs	(44,877)		(36,778)
Recoveries	2,003		1,673
Balance at end of period	$	95,263	$	93,149

Long-Term Debt - Narrative (Details) $ in Millions	3 Months Ended
Long-Term Debt - Narrative (Details) $ in Millions	Mar. 31, 2024 USD ($)	Mar. 31, 2024 MXN ($)	Feb. 21, 2024 USD ($)	Dec. 13, 2021 USD ($)	Aug. 26, 2020 USD ($)
Line of Credit \| Secured overnight financing rate (SOFR) overnight index swap rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.50%
Basis spread on variable rate, adjustment (as a percent)	0.10%
Revolving Unsecured Credit Facility due 2027 \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 640,000,000
Amount outstanding	15,000,000
Letters of credit outstanding	2,800,000
Remaining borrowing capacity	$ 622,200,000
Commitment fee (as a percent)	0.325%
Interest rate at end of period (as a percent)	7.92%	7.92%
Net proceeds	$ (553,000,000)
Revolving Unsecured Credit Facility due 2027 \| Line of Credit \| Minimum
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0.00%	0.00%
Revolving Unsecured Credit Facility due 2027 \| Line of Credit \| Prime rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.50%
Revolving Unsecured Uncommitted Credit Facility due 2027 \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 600.0
Remaining borrowing capacity	$ 36,000,000	$ 600.0
Revolving Unsecured Uncommitted Credit Facility due 2027 \| Line of Credit \| Mexican central bank interbank equilibrium rate (TIIE)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.25%
4.625% senior unsecured notes due 2028 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	4.625%	4.625%			4.625%
Face amount					$ 500,000,000
Debt ratio threshold	2.75	2.75
5.625% Senior Unsecured Notes due 2030 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.625%	5.625%		5.625%
Face amount				$ 550,000,000
Debt ratio threshold	3.0	3.0
6.875% Senior Unsecured Notes due 2032 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	6.875%	6.875%	6.875%
Face amount			$ 500,000,000
Debt ratio threshold	3.0	3.0
Debt ratio	2.5	2.5
Debt Instrument, Redemption Price, Percentage	100.00%
Debt Instrument, Redemption Price (Up To), Percentage	40.00%

Fair Value of Financial Instruments - Level 3 (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration at beginning of the period	$ 0
Change in fair value	0
Contingent consideration at end of the period	$ 0

General	3 Months Ended
General	Mar. 31, 2024
Accounting Policies [Abstract]
General	General Basis of Presentation The accompanying consolidated balance sheet as of December 31, 2023, which is derived from audited consolidated financial statements, and the unaudited consolidated financial statements, including the notes thereto, includes the accounts of FirstCash Holdings, Inc. and its wholly-owned subsidiaries (together, the “Company”). The Company regularly makes acquisitions, and the results of operations for the acquisitions have been consolidated since the acquisition dates. All significant intercompany accounts and transactions have been eliminated. These unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the rules and regulations for reporting on Form 10-Q. Accordingly, they do not include certain information and disclosures required for comprehensive financial statements. These interim period financial statements should be read in conjunction with the Company’s audited consolidated financial statements, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 5, 2024. The consolidated financial statements as of March 31, 2024 and 2023, and for the three month periods ended March 31, 2024 and 2023, are unaudited, but in management’s opinion include all adjustments (consisting of only normal recurring adjustments) considered necessary to present fairly the financial position, results of operations and cash flow for such interim periods. Operating results for the period ended March 31, 2024 are not necessarily indicative of the results that may be expected for the full year. 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. The Company also has pawn operations in El Salvador, where the reporting and functional currency is the U.S. dollar. Use of Estimates The preparation of interim financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and related revenue and expenses, and the disclosure of gain and loss contingencies at the date of the financial statements. Such estimates and assumptions are subject to a number of risks and uncertainties, which may cause actual results to differ materially from the Company’s estimates. Recent Accounting Pronouncements In October 2023, the FASB issued ASU No 2023-06, “Disclosure Agreements – Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative” (“ASU 2023-06”). ASU 2023-06 will align the disclosure and presentation requirements in the FASB Accounting Standards Codification with the SEC’s regulations. The amendments in ASU 2023-06 will be applied prospectively and are effective when the SEC removes the related requirements from Regulations S-X or S-K. Any amendments the SEC does not remove by June 30, 2027 will not be effective. As the Company is currently subject to these SEC requirements, ASU 2023-06 is not expected to have a material effect on the Company’s current financial position, results of operations or financial statement disclosures. In November 2023, the FASB issued ASU No 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). ASU 2023-07 expands disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-07 should be applied retrospectively to all prior periods presented in the financial statements. The Company does not expect ASU 2023-07 to have a material effect on the Company’s current financial position, results of operations or financial statement disclosures. In December 2023, the FASB issued ASU No 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 expands disclosures in the rate reconciliation and requires disclosure of income taxes paid by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-09 should be applied prospectively; however, retrospective application is permitted. The Company does not expect ASU 2023-09 to have a material effect on the Company’s current financial position, results of operations or financial statement disclosures. In March 2024, the FASB issued ASU No 2024-02, “Codification Improvements - Amendments to Remove References to the Concepts Statements” (“ASU 2024-02”). ASU 2024-02 removes references to various Concepts Statements. In most instances, the references are extraneous and not required to understand or apply the guidance. ASU 2024-02 is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2024-02 can be applied prospectively or retrospectively. The Company adopted ASU 2024-02 effective January 1, 2024 on a prospective basis. The adoption of ASU 2024-02 did not have a material effect on the Company’s current financial position, results of operations or financial statement disclosures.

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

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

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

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

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

Recurring Fair Value Measurements

Estimated Fair Value

Fair Value Measurements Using

Level 1

Level 2

Level 3

Financial liabilities (1):

Contingent consideration as of March 31, 2023

—


	Three Months Ended
	March 31, 2023
Contingent consideration at beginning of the period	$	—
Change in fair value	—
Contingent consideration at end of the period	$	—

There were no transfers in or out of Level 1, 2 or 3 during the three months ended March 31, 2023.

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. There were no such events or conditions identified during the three months ended March 31, 2024 and 2023.

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


	Carrying Value		Estimated Fair Value
	March 31,		March 31,		Fair Value Measurements Using
	2024		2024		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	135,070	$	135,070	$	135,070	$	—	$	—
Accounts receivable, net	69,703		69,703		—		—		69,703
Pawn loans	456,079		456,079		—		—		456,079
Finance receivables, net (1)	105,653		227,922		—		—		227,922
	$	766,505	$	888,774	$	135,070	$	—	$	753,704

Financial liabilities:
Revolving unsecured credit facilities	$	15,000	$	15,000	$	—	$	15,000	$	—
Senior unsecured notes (outstanding principal)	1,550,000		1,489,000		—		1,489,000		—
	$	1,565,000	$	1,504,000	$	—	$	1,504,000	$	—

(1)Finance receivables, gross as of March 31, 2024 was $222.1 million. See Note 5.


	Carrying Value		Estimated Fair Value
	March 31,		March 31,		Fair Value Measurements Using
	2023		2023		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	100,795	$	100,795	$	100,795	$	—	$	—
Accounts receivable, net	56,357		56,357		—		—		56,357
Pawn loans	377,697		377,697		—		—		377,697
Finance receivables, net (1)	102,093		214,206		—		—		214,206
	$	636,942	$	749,055	$	100,795	$	—	$	648,260

Financial liabilities:
Revolving unsecured credit facilities	$	308,000	$	308,000	$	—	$	308,000	$	—
Senior unsecured notes (outstanding principal)	1,050,000		950,000		—		950,000		—
	$	1,358,000	$	1,258,000	$	—	$	1,258,000	$	—

(1)Finance receivables, gross as of March 31, 2023 was $201.3 million. See Note 5.


	Carrying Value		Estimated Fair Value
	December 31,		December 31,		Fair Value Measurements Using
	2023		2023		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	127,018	$	127,018	$	127,018	$	—	$	—
Accounts receivable, net	71,922		71,922		—		—		71,922
Pawn loans	471,846		471,846		—		—		471,846
Finance receivables, net (1)	113,901		227,732		—		—		227,732
	$	784,687	$	898,518	$	127,018	$	—	$	771,500

Financial liabilities:
Revolving unsecured credit facilities	$	568,000	$	568,000	$	—	$	568,000	$	—
Senior unsecured notes (outstanding principal)	1,050,000		987,000		—		987,000		—
	$	1,618,000	$	1,555,000	$	—	$	1,555,000	$	—

(1)Finance receivables, gross as of December 31, 2023 were $227.5 million. See Note 5.

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

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

The carrying value of the unsecured credit facilities approximates fair value as of March 31, 2024, March 31, 2023 and December 31, 2023. 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 the prevailing secured overnight financing rate (“SOFR”) or the Mexican Central Bank’s interbank equilibrium rate (“TIIE”) and reprice with any changes in SOFR 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

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Shares withheld for tax withholding obligation (in shares)	59	28
Cash dividends (USD per share)	$ 0.35	$ 0.33

Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

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

The following tables present reportable segment information for the three month period ended March 31, 2024 and 2023 as well as segment earning assets (in thousands):


	Three Months Ended March 31, 2024
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate/ Eliminations			Consolidated
Revenue:
Retail merchandise sales	$	236,990	$	130,849	$	—	$	(1,018)	(1)	$	366,821
Pawn loan fees	122,974		56,561		—		—			179,535
Leased merchandise income	—		—		205,671		—			205,671
Interest and fees on finance receivables	—		—		57,387		—			57,387
Wholesale scrap jewelry sales	17,726		9,230		—		—			26,956
Total revenue	377,690		196,640		263,058		(1,018)			836,370

Cost of revenue:
Cost of retail merchandise sold	139,914		84,183		—		(568)		(1)	223,529
Depreciation of leased merchandise	—		—		120,774		(490)		(1)	120,284
Provision for lease losses	—		—		43,180		(170)		(1)	43,010
Provision for loan losses	—		—		30,418		—			30,418
Cost of wholesale scrap jewelry sold	15,266		8,023		—		—			23,289
Total cost of revenue	155,180		92,206		194,372		(1,228)			440,530

Net revenue	222,510		104,434		68,686		210			395,840

Expenses and other income:
Operating expenses	118,895		67,425		34,816		—			221,136
Administrative expenses	—		—		—		43,057			43,057
Depreciation and amortization	7,013		5,105		721		13,188			26,027
Interest expense	—		—		—		25,418			25,418
Interest income	—		—		—		(743)			(743)
Gain on foreign exchange	—		—		—		(186)			(186)
Merger and acquisition expenses	—		—		—		597			597
Other expenses (income), net	—		—		—		(1,351)			(1,351)

Total expenses and other income	125,908		72,530		35,537		79,980			313,955

Income (loss) before income taxes	$	96,602	$	31,904	$	33,149	$	(79,770)		$	81,885

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.


	As of March 31, 2024
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate/ Eliminations			Consolidated
Earning assets:
Pawn loans	$	315,792	$	140,287	$	—	$	—		$	456,079
Finance receivables, net	—		—		105,653		—			105,653
Inventories	216,762		85,623		—		—			302,385
Leased merchandise, net	—		—		158,090		(305)		(1)	157,785

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.


	Three Months Ended March 31, 2023
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate/ Eliminations			Consolidated
Revenue:
Retail merchandise sales	$	210,681	$	118,937	$	—	$	(1,703)	(1)	$	327,915
Pawn loan fees	102,684		48,876		—		—			151,560
Leased merchandise income	—		—		183,438		—			183,438
Interest and fees on finance receivables	—		—		54,642		—			54,642
Wholesale scrap jewelry sales	26,316		18,868		—		—			45,184
Total revenue	339,681		186,681		238,080		(1,703)			762,739

Cost of revenue:
Cost of retail merchandise sold	121,929		77,963		—		(891)		(1)	199,001
Depreciation of leased merchandise	—		—		102,172		(567)		(1)	101,605
Provision for lease losses	—		—		49,166		(101)		(1)	49,065
Provision for loan losses	—		—		29,285		—			29,285
Cost of wholesale scrap jewelry sold	21,082		14,645		—		—			35,727
Total cost of revenue	143,011		92,608		180,623		(1,559)			414,683

Net revenue (loss)	196,670		94,073		57,457		(144)			348,056

Expenses and other income:
Operating expenses	109,781		55,756		33,524		—			199,061
Administrative expenses	—		—		—		39,017			39,017
Depreciation and amortization	5,870		5,445		736		15,060			27,111
Interest expense	—		—		—		20,897			20,897
Interest income	—		—		—		(517)			(517)
Gain on foreign exchange	—		—		—		(802)			(802)
Merger and acquisition expenses	—		—		—		31			31
Other expenses (income), net	—		—		—		45			45

Total expenses and other income	115,651		61,201		34,260		73,731			284,843

Income (loss) before income taxes	$	81,019	$	32,872	$	23,197	$	(73,875)		$	63,213

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.


	As of March 31, 2023
	U.S. Pawn		Latin America Pawn		Retail POS Payment Solutions		Corporate/ Eliminations			Consolidated
Earning assets:
Pawn loans	$	256,773	$	120,924	$	—	$	—		$	377,697
Finance receivables, net	—		—		102,093		—			102,093
Inventories	178,587		79,016		—		—			257,603
Leased merchandise, net	—		—		150,094		(1,240)		(1)	148,854

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores.

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net income	$ 61,368	$ 47,388
Denominator:
Weighted-average common shares for calculating basic earnings per share (shares)	45,244	46,147
Stock options and nonvested stock awards (shares)	143	165
Weighted-average common shares for calculating diluted earnings per share (shares)	45,387	46,312
Earnings per share:
Basic (USD per share)	$ 1.36	$ 1.03
Diluted (USD per share)	$ 1.35	$ 1.02

- Definition

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

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- Definition

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

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+ Details

- Definition

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

+ References

+ Details

Finance Receivables, Net - Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 96,454	$ 84,833
Provision for loan losses	30,418	29,285
Charge-offs	(33,279)	(27,117)
Recoveries	2,427	1,609
Balance at end of period	$ 96,020	$ 88,610

- Definition

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

+ References + Details

Leased Merchandise, Net (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Leased Merchandise, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Leased merchandise	$ 369,298	$ 349,648	$ 384,129
Processing fees	(4,022)	(4,341)	(4,348)
Merchant partner discounts and premiums, net	2,203	2,693	2,501
Accumulated depreciation	(114,431)	(105,997)	(115,964)
Leased merchandise, before allowance for lease losses	253,048	242,003	266,318
Less allowance for lease losses	(95,263)	(93,149)	(95,127)	$ (79,189)
Leased merchandise, net	$ 157,785	$ 148,854	$ 171,191

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Common Stock Held in Treasury
Balance at beginning of period (shares) at Dec. 31, 2022		57,322				11,030
Balance at beginning of period at Dec. 31, 2022	$ 1,879,766	$ 573	$ 1,734,528	$ 1,060,603	$ (106,573)	$ (809,365)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under share-based compensation plan, net of 59 shares net-settled	(2,463)		(7,156)			$ 4,693
Shares issued under share-based compensation plan (shares)						(64)
Share-based compensation expense	3,375		3,375
Net income	47,388			47,388
Cash dividends	(15,294)			(15,294)
Currency translation adjustment	29,513				29,513
Purchases of treasury stock (shares)						782
Purchases of treasury stock, including excise tax	(71,411)					$ (71,411)
Balance at end of period (shares) at Mar. 31, 2023		57,322				11,748
Balance at end of period at Mar. 31, 2023	$ 1,870,874	$ 573	1,730,747	1,092,697	(77,060)	$ (876,083)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares withheld for tax withholding obligation (in shares)	28
Balance at beginning of period (shares) at Dec. 31, 2023		57,322				12,214
Balance at beginning of period at Dec. 31, 2023	$ 1,996,418	$ 573	1,741,046	1,218,029	(43,037)	$ (920,193)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under share-based compensation plan, net of 59 shares net-settled	(7,007)		(17,583)			$ 10,576
Shares issued under share-based compensation plan (shares)						(140)
Share-based compensation expense	4,101		4,101
Net income	61,368			61,368
Cash dividends	(15,833)			(15,833)
Currency translation adjustment	6,335				6,335
Balance at end of period (shares) at Mar. 31, 2024		57,322				12,074
Balance at end of period at Mar. 31, 2024	$ 2,045,382	$ 573	$ 1,727,564	$ 1,263,564	$ (36,702)	$ (909,617)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares withheld for tax withholding obligation (in shares)	59

Operating Leases - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 33,439	$ 30,146
Leased assets obtained in exchange for new operating lease liabilities	$ 19,924	$ 19,734

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 61,368	$ 47,388

- Definition

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

+ References

+ Details

Commitments and Contingencies (Details) - Gold, Ounces - Forward Contracts	Mar. 31, 2024 oz $ / oz
Guarantor Obligations [Line Items]
Investment contract weight \| oz	83,000
Derivative, average forward price \| $ / oz	2,110

Operating Leases

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Operating Leases

Lessor

For information about the Company’s revenue-generating activities as a lessor, refer to the “Leased merchandise and revenue recognition” section of Note 2 to the consolidated financial statements included in the Company’s 2023 Annual Report on Form 10-K. All of the Company’s lease agreements are considered operating leases.

Lessee

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

Leased facilities are generally leased for a term of three to five years with one or more options to renew for an additional three to five years, typically at the Company’s sole discretion. In addition, the majority of these leases can be terminated early upon an adverse change in law which negatively affects the store’s profitability. The Company regularly evaluates renewal and termination options to determine if the Company is reasonably certain to exercise the option, and excludes these options from the lease term included in the recognition of the operating lease right of use asset and lease liability until such certainty exists. The weighted-average remaining lease term for operating leases was 3.9 years as of March 31, 2024 and 4.0 years as of March 31, 2023.

The operating lease right of use asset and lease liability is recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The Company’s leases do not provide an implicit rate, and therefore, it uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The Company utilizes a portfolio approach for determining the incremental borrowing rate to apply to groups of leases with similar characteristics. The weighted-average discount rate used to measure the lease liability as of March 31, 2024 and 2023 was 8.2% and 6.9%, respectively.

The Company has certain operating leases in Mexico which are denominated in U.S. dollars. The liability related to these leases is considered a monetary liability and requires remeasurement each reporting period into the functional currency (Mexican pesos) using reporting date exchange rates. The remeasurement results in the recognition of foreign currency exchange gains or losses each reporting period, which can produce a certain level of earnings volatility. The Company recognized a foreign currency gain of $0.2 million and $1.2 million during the three months ended March 31, 2024 and 2023, respectively, related to the remeasurement of these U.S. dollar-denominated operating leases, which is included in 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 three months ended March 31, 2024 and 2023 (in thousands):


	Three Months Ended
	March 31,
	2024		2023
Operating lease expense	$	36,919	$	33,540
Variable lease expense (1)	5,021		4,472
Total operating lease expense	$	41,940	$	38,012

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

The following table details the maturity of lease liabilities for all operating leases as of March 31, 2024 (in thousands):


Nine months ending December 31, 2024	$	94,112
2025	98,976
2026	74,162
2027	46,168
2028	23,853
Thereafter	24,406
Total	$	361,677
Less amount of lease payments representing interest	(51,595)
Total present value of lease payments	$	310,082

The following table details supplemental cash flow information related to operating leases for the three months ended March 31, 2024 and 2023 (in thousands):


	Three Months Ended
	March 31,
	2024		2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	33,439	$	30,146
Leased assets obtained in exchange for new operating lease liabilities	$	19,924	$	19,734

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

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


	As of March 31,				As of December 31,
	2024		2023		2023
Revolving unsecured credit facilities:
Revolving unsecured credit facility, maturing 2027 (1)	$	15,000	$	308,000	$	568,000
Revolving unsecured uncommitted credit facility, maturing 2027 (1)	—		—		—
Total revolving unsecured credit facilities	15,000		308,000		568,000

Senior unsecured notes:
4.625% senior unsecured notes due 2028 (2)	494,763		493,727		494,499
5.625% senior unsecured notes due 2030 (3)	543,388		542,449		543,148
6.875% senior unsecured notes due 2032 (4)	490,996		—		—
Total senior unsecured notes	1,529,147		1,036,176		1,037,647

Total long-term debt	$	1,544,147	$	1,344,176	$	1,605,647

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

- Definition

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

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+ Details

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 24, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-10960
Entity Registrant Name	FIRSTCASH HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-3920732
Entity Address, Address Line One	1600 West 7th Street
Entity Address, City or Town	Fort Worth
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76102
City Area Code	817
Local Phone Number	335-1100
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	FCFS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,473,298
Entity Central Index Key	0000840489
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

Finance Receivables, Net (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Finance Receivables, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Finance receivables, gross	$ 222,087	$ 201,288	$ 227,474
Merchant partner discounts and premiums, net	(15,221)	(6,328)	(11,907)
Unearned origination fees	(5,193)	(4,257)	(5,212)
Finance receivables, amortized cost	201,673	190,703	210,355
Less allowance for loan losses	(96,020)	(88,610)	(96,454)	$ (84,833)
Finance receivables, net	$ 105,653	$ 102,093	$ 113,901

- Definition

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

+ References + Details

- Definition

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

+ References

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+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Current assets
Cash and cash equivalents	$ 135,070	$ 127,018	$ 100,795
Accounts receivable, net	69,703	71,922	56,357
Pawn loans	456,079	471,846	377,697
Finance receivables, net	105,653	113,901	102,093
Inventories	302,385	312,089	257,603
Leased merchandise, net	157,785	171,191	148,854
Prepaid expenses and other current assets	30,460	38,634	29,523
Total current assets	1,257,135	1,306,601	1,072,922
Property and equipment, net	658,349	632,724	563,422
Operating lease right of use asset	320,515	328,458	308,890
Goodwill	1,730,353	1,727,652	1,591,460
Intangible assets, net	265,184	277,724	315,865
Other assets	10,080	10,242	9,204
Deferred tax assets, net	5,836	6,514	7,534
Total assets	4,247,452	4,289,915	3,869,297
Current liabilities
Accounts payable and accrued liabilities	138,812	163,050	142,277
Customer deposits and prepayments	75,423	70,580	69,075
Lease liability, current	100,874	101,962	95,338
Total current liabilities	315,109	335,592	306,690
Revolving unsecured credit facilities	15,000	568,000	308,000
Senior unsecured notes	1,529,147	1,037,647	1,036,176
Deferred tax liabilities, net	133,606	136,773	145,686
Lease liability, non-current	209,208	215,485	201,871
Total liabilities	2,202,070	2,293,497	1,998,423
Stockholders’ equity:
Common stock	573	573	573
Additional paid-in capital	1,727,564	1,741,046	1,730,747
Retained earnings	1,263,564	1,218,029	1,092,697
Accumulated other comprehensive loss	(36,702)	(43,037)	(77,060)
Common stock held in treasury, at cost	(909,617)	(920,193)	(876,083)
Total stockholders’ equity	2,045,382	1,996,418	1,870,874
Total liabilities and stockholders’ equity	$ 4,247,452	$ 4,289,915	$ 3,869,297