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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flow from operating activities:    
Net income $ 28,005 $ 33,715
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation of leased merchandise 93,706 0
Provision for lease losses 39,820 0
Provision for loan losses 24,697 0
Share-based compensation expense 3,075 3,625
Depreciation and amortization expense 25,542 10,612
Amortization of debt issuance costs 732 395
Net amortization of premiums, discounts and unearned origination fees on finance receivables 15,782 0
Loss on revaluation of contingent acquisition consideration 2,570 0
Impairments and dispositions of certain other assets 177 878
Deferred income taxes, net 493 2,010
Changes in operating assets and liabilities, net of business combinations:    
Accounts receivable, net 3,746 5,394
Inventories purchased directly from customers, wholesalers or manufacturers 7,075 1,442
Leased merchandise, net (108,729) 0
Prepaid expenses and other assets (1,165) 868
Accounts payable, accrued liabilities and other liabilities (14,707) 3,122
Income taxes (674) 7,113
Net cash flow provided by operating activities 120,145 69,174
Cash flow from investing activities:    
Pawn loans, net [1] 17,383 42,394
Finance receivables, net 61 0
Purchases of furniture, fixtures, equipment and improvements (7,028) (9,491)
Purchases of store real property (10,233) (14,441)
Acquisitions of pawn stores, net of cash acquired 0 (1,204)
Net cash flow provided by investing activities 183 17,258
Cash flow from financing activities:    
Borrowings from unsecured credit facilities 39,000 45,000
Repayments of unsecured credit facilities (80,000) (124,000)
Debt issuance costs paid (132) 0
Purchases of treasury stock (72,217) (4,967)
Payment of withholding taxes on net share settlements of restricted stock unit awards and stock options exercised 0 (1,663)
Dividends paid (14,546) (11,097)
Net cash flow used in financing activities (127,895) (96,727)
Effect of exchange rates on cash 838 (914)
Change in cash and cash equivalents (6,729) (11,209)
Cash and cash equivalents at beginning of the period 120,046 65,850
Cash and cash equivalents at end of the period $ 113,317 $ 54,641
[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.