XML 31 R20.htm IDEA: XBRL DOCUMENT v3.22.1
Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The Company’s financial assets and liabilities as of March 31, 2022 and December 31, 2021 that are measured at fair value on a recurring basis are as follows (in thousands):

Estimated Fair Value
March 31,Fair Value Measurements Using
2022Level 1Level 2Level 3
Financial liabilities:
Contingent AFF acquisition consideration (1)
$112,119 $— $— $112,119 

(1)The current portion of $98.2 million is included in accounts payable and accrued liabilities, and the non-current portion of $14.0 million is included in other liabilities in the accompanying consolidated balance sheets.

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

(1)The current portion of $95.6 million is included in accounts payable and accrued liabilities and the non-current portion of $14.0 million is included in other liabilities in the accompanying consolidated balance sheets.
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, 2022 is as follows (in thousands):

Contingent Consideration
Contingent AFF acquisition consideration as of December 31, 2021$109,549 
Change in fair value (1)
2,570 
Balance at March 31, 2022$112,119 

(1)    The Company recognized a $2.6 million loss during the three months ended March 31, 2022 as a result of the change in fair value of the contingent AFF acquisition consideration, which is included in loss on revaluation of contingent acquisition consideration in the accompanying consolidated statement of income.
Schedule of Fair Value by Balance Sheet Grouping
The Company’s financial assets and liabilities as of March 31, 2022, 2021 and December 31, 2021 that are not measured at fair value in the consolidated balance sheets are as follows (in thousands):

Carrying ValueEstimated Fair Value
March 31,March 31,Fair Value Measurements Using
20222022Level 1Level 2Level 3
Financial assets:
Cash and cash equivalents$113,317 $113,317 $113,317 $— $— 
Accounts receivable, net52,017 52,017 — — 52,017 
Pawn loans344,101 344,101 — — 344,101 
Finance receivables, net140,481 180,819 — — 180,819 
$649,916 $690,254 $113,317 $— $576,937 
Financial liabilities:
Revolving unsecured credit facilities$218,000 $218,000 $— $218,000 $— 
Senior unsecured notes (outstanding principal)1,050,000 992,000 — 992,000 — 
$1,268,000 $1,210,000 $— $1,210,000 $— 

Carrying ValueEstimated Fair Value
March 31,March 31,Fair Value Measurements Using
20212021Level 1Level 2Level 3
Financial assets:
Cash and cash equivalents$54,641 $54,641 $54,641 $— $— 
Accounts receivable, net35,334 35,334 — — 35,334 
Pawn loans265,438 265,438 — — 265,438 
$355,413 $355,413 $54,641 $— $300,772 
Financial liabilities:
Revolving unsecured credit facilities$44,000 $44,000 $— $44,000 $— 
Senior unsecured notes (outstanding principal)500,000 506,000 — 506,000 — 
$544,000 $550,000 $— $550,000 $— 
Carrying ValueEstimated Fair Value
December 31,December 31,Fair Value Measurements Using
20212021Level 1Level 2Level 3
Financial assets:
Cash and cash equivalents$120,046 $120,046 $120,046 $— $— 
Accounts receivable, net55,356 55,356 — — 55,356 
Pawn loans347,973 347,973 — — 347,973 
Finance receivables, net181,021 233,000 — — 233,000 
$704,396 $756,375 $120,046 $— $636,329 
Financial liabilities:
Revolving unsecured credit facilities$259,000 $259,000 $— $259,000 $— 
Senior unsecured notes (outstanding principal)1,050,000 1,058,000 — 1,058,000 — 
$1,309,000 $1,317,000 $— $1,317,000 $—