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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flow from operating activities:    
Net income $ 173,429 $ 95,538
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation of leased merchandise 262,830 0
Provision for lease losses 109,771 0
Provision for loan losses 83,453 0
Share-based compensation expense 8,825 8,092
Depreciation and amortization expense 77,495 32,731
Amortization of debt issuance costs 2,208 1,223
Net amortization of premiums, discounts and unearned origination fees on finance receivables 35,257 0
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability (82,789) 0
Impairments and dispositions of certain other assets 482 1,640
Deferred income taxes, net 46,142 5,622
Changes in operating assets and liabilities, net of business combinations:    
Accounts receivable, net (2,953) (2,302)
Inventories purchased directly from customers, wholesalers or manufacturers (11,017) (25,592)
Leased merchandise, net (360,755) 0
Prepaid expenses and other assets (2,144) 229
Accounts payable, accrued liabilities and other liabilities 7,256 16,538
Income taxes (21,692) 4,131
Net cash flow provided by operating activities 325,798 137,850
Cash flow from investing activities:    
Pawn loans, net [1] (74,707) (70,637)
Finance receivables, net (49,634) 0
Purchases of furniture, fixtures, equipment and improvements (29,630) (31,608)
Purchases of store real property (77,689) (38,256)
Acquisitions of pawn stores, net of cash acquired (7,072) (49,434)
Net cash flow used in investing activities (238,732) (189,935)
Cash flow from financing activities:    
Borrowings from unsecured credit facilities 196,000 338,000
Repayments of unsecured credit facilities (117,000) (215,000)
Debt issuance costs paid (1,745) 0
Purchases of treasury stock (140,391) (49,610)
Proceeds from exercise of stock options 0 380
Payment of withholding taxes on net share settlements of restricted stock unit awards and stock options exercised 0 (1,663)
Dividends paid (44,439) (35,403)
Net cash flow (used in) provided by financing activities (107,575) 36,704
Effect of exchange rates on cash 1,083 (562)
Change in cash and cash equivalents (19,426) (15,943)
Cash and cash equivalents at beginning of the period 120,046 65,850
Cash and cash equivalents at end of the period $ 100,620 $ 49,907
[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.