Segment Information

3 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

NOTE 10: SEGMENT INFORMATION

Our operations are primarily managed on a geographical basis and are comprised of three reportable segments. The factors for determining our reportable segments include the manner in which our chief operating decision maker evaluates performance for purposes of allocating resources and assessing performance.

We currently report our segments as follows:

•U.S. Pawn — all pawn activities in the United States;

•Latin America Pawn — all pawn activities in Mexico and other parts of Latin America; and

•Other Investments — primarily our equity interest in the net income of Cash Converters along with our investment in RDC and our investment in and notes receivable from Founders.

There are no inter-segment revenues presented below, and the amounts below were determined in accordance with the same accounting principles used in our condensed consolidated financial statements.

The following income (loss) before income taxes tables present revenue for each reportable segment, disaggregated revenue within our reportable segments and Corporate, segment profits and segment contribution.

	Three Months Ended December 31, 2023
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated
Revenues:
Merchandise sales	$	125,513	$	53,890	$	—	$	179,403	$	—	$	179,403
Jewelry scrapping sales	12,815		1,267		—		14,082		—		14,082
Pawn service charges	79,073		27,376		—		106,449		—		106,449
Other revenues	37		16		4		57		—		57
Total revenues	217,438		82,549		4		299,991		—		299,991
Merchandise cost of goods sold	78,709		36,501		—		115,210		—		115,210
Jewelry scrapping cost of goods sold	11,284		924		—		12,208		—		12,208
Gross profit	127,445		45,124		4		172,573		—		172,573
Segment and corporate expenses (income):
Store expenses	77,255		33,300		—		110,555		—		110,555
General and administrative	—		—		—		—		16,543		16,543
Depreciation and amortization	2,624		2,339		—		4,963		3,602		8,565
Loss (gain) on sale or disposal of assets and other	26		(196)		—		(170)		(2)		(172)
Interest expense	—		—		—		—		3,440		3,440
Interest income	—		(420)		(573)		(993)		(1,646)		(2,639)
Equity in net income of unconsolidated affiliates	—		—		(1,153)		(1,153)		—		(1,153)
Other (income) expense	—		(48)		1		(47)		(224)		(271)
Segment contribution	$	47,540	$	10,149	$	1,729	$	59,418
Income (loss) before income taxes							$	59,418	$	(21,713)	$	37,705

	Three Months Ended December 31, 2022
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated
Revenues:
Merchandise sales	$	118,314	$	45,473	$	—	$	163,787	$	—	$	163,787
Jewelry scrapping sales	7,176		708		—		7,884		—		7,884
Pawn service charges	69,310		23,283		—		92,593		—		92,593
Other revenues	25		16		22		63		—		63
Total revenues	194,825		69,480		22		264,327		—		264,327
Merchandise cost of goods sold	73,256		31,621		—		104,877		—		104,877
Jewelry scrapping cost of goods sold	6,216		737		—		6,953		—		6,953
Gross profit	115,353		37,122		22		152,497		—		152,497
Segment and corporate expenses (income):
Store expenses	73,304		27,499		—		100,803		—		100,803
General and administrative	—		(3)		—		(3)		15,479		15,476
Depreciation and amortization	2,755		2,215		—		4,970		3,018		7,988
Loss (gain) on sale or disposal of assets and other	3		(19)		—		(16)		—		(16)
Interest expense	—		—		—		—		6,190		6,190
Interest income	—		(169)		—		(169)		(495)		(664)
Equity in net income of unconsolidated affiliates	—		—		(1,584)		(1,584)		—		(1,584)
Other expense (income)	—		70		4		74		(308)		(234)
Segment contribution	$	39,291	$	7,529	$	1,602	$	48,422
Income (loss) before income taxes							$	48,422	$	(23,884)	$	24,538

The following table presents separately identified segment assets:

(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments (a)		Corporate Items		Total
As of December 31, 2023
Pawn loans	$	190,766	$	52,486	$	—	$	—	$	243,252
Pawn service charges receivable, net	35,707		4,295		—		—		40,002
Inventory, net	127,008		37,919		—		—		164,927
Total assets	1,004,075		323,209		78,419		75,490		1,481,193
As of December 31, 2022
Pawn loans	$	166,886	$	42,969	$	—	$	—	$	209,855
Pawn service charges receivable, net	31,064		3,857		—		—		34,921
Inventory, net	117,994		38,070		—		—		156,064
Total assets	900,211		272,153		77,009		152,942		1,402,315
As of September 30, 2023
Pawn loans	$	190,624	$	55,142	$	—	$	—	$	245,766
Pawn service charges receivable, net	34,318		4,567		—		—		38,885
Inventory, net	128,901		37,576		—		—		166,477
Total assets	984,539		313,164		63,707		106,301		1,467,711

(a) Segment assets as of September 30, 2023 have been recast to conform to current year presentation as CCV no longer meets the 10 percent threshold to be considered its own segment.