Segment Information

12 Months Ended

Sep. 30, 2019

NOTE 15: SEGMENT INFORMATION

We are organized into operating segments based on geographic areas. These operating segments have been aggregated into three reportable business segments as follows: U.S. Pawn — all pawn activities in the United States; Latin America Pawn — all pawn activities in Mexico, Central America and South America; and Other International — primarily our equity interest in the net income of Cash Converters International and consumer finance activities in Canada. Segment information is prepared on the same basis that our chief operating decision maker reviews financial information for operational decision-making purposes. There are no material inter-segment revenues, and the amounts below were determined in accordance with the same accounting principles used in our consolidated financial statements.



	Fiscal Year Ended September 30, 2019
	U.S. Pawn		Latin America Pawn			Other International			Total Segments			Corporate Items			Consolidated

	(in thousands)
Revenues:
Merchandise sales	$	355,996	$	97,379		$	—		$	453,375		$	—		$	453,375
Jewelry scrapping sales	45,815		14,630			—			60,445			—			60,445
Pawn service charges	248,369		78,997			—			327,366			—			327,366
Other revenues	233		179			5,631			6,043			—			6,043
Total revenues	650,413		191,185			5,631			847,229			—			847,229
Merchandise cost of goods sold	225,136		72,372			—			297,508			—			297,508
Jewelry scrapping cost of goods sold	39,318		13,617			—			52,935			—			52,935
Other cost of revenues	—		—			2,338			2,338			—			2,338
Net revenues	385,959		105,196			3,293			494,448			—			494,448
Operating expenses (income):
Operations	269,003		74,199			7,376			350,578			—			350,578
Administrative	—		—			—			—			63,665			63,665
Depreciation and amortization	11,879		6,267			219			18,365			10,432			28,797
Loss on sale or disposal of assets and other	3,402		691			282			4,375			24			4,399
Interest expense	—		1,609			491			2,100			30,537			32,637
Interest income	—		(1,601		)	—			(1,601		)	(9,485		)	(11,086		)
Equity in net loss of unconsolidated affiliates	—		—			135			135			—			135
Impairment of investment in unconsolidated affiliates	—		—			19,725			19,725			—			19,725
Other expense (income)	—		(93		)	1,895			1,802			(378		)	1,424
Segment contribution (loss)	$	101,675	$	24,124		$	(26,830	)	$	98,969
Income from continuing operations before income taxes									$	98,969		$	(94,795	)	$	4,174



	Fiscal Year Ended September 30, 2018
	U.S. Pawn			Latin America Pawn			Other International			Total Segments			Corporate Items			Consolidated

	(in thousands)
Revenues:
Merchandise sales	$	350,699		$	87,673		$	—		$	438,372		$	—		$	438,372
Jewelry scrapping sales	47,745			13,007			—			60,752			—			60,752
Pawn service charges	237,086			67,491			—			304,577			—			304,577
Other revenues	250			85			8,120			8,455			—			8,455
Total revenues	635,780			168,256			8,120			812,156			—			812,156
Merchandise cost of goods sold	216,408			60,210			—			276,618			—			276,618
Jewelry scrapping cost of goods sold	40,417			11,873			—			52,290			—			52,290
Other cost of revenues	—			—			1,697			1,697			—			1,697
Net revenues	378,955			96,173			6,423			481,551			—			481,551
Operating expenses (income):
Operations	263,094			61,553			10,194			334,841			—			334,841
Administrative	—			—			—			—			53,639			53,639
Depreciation and amortization	12,869			4,068			184			17,121			8,363			25,484
Loss on sale or disposal of assets	203			27			—			230			233			463
Interest expense	71			25			—			96			27,738			27,834
Interest income	—			(2,619		)	—			(2,619		)	(14,422		)	(17,041		)
Equity in net income of unconsolidated affiliates	—			—			(5,529		)	(5,529		)	—			(5,529		)
Impairment of investment	—			—			11,712			11,712			—			11,712
Other income	(3		)	(42		)	(132		)	(177		)	(5,214		)	(5,391		)
Segment contribution (loss)	$	102,721		$	33,161		$	(10,006	)	$	125,876
Income from continuing operations before income taxes										$	125,876		$	(70,337	)	$	55,539



	Fiscal Year Ended September 30, 2017
	U.S. Pawn			Latin America Pawn			Other International			Total Segments			Corporate Items			Consolidated

	(in thousands)
Revenues:
Merchandise sales	$	351,878		$	62,957		$	3		$	414,838		$	—		$	414,838
Jewelry scrapping sales	48,203			2,986			—			51,189			—			51,189
Pawn service charges	238,645			34,432			—			273,077			—			273,077
Other revenues	219			645			7,983			8,847			—			8,847
Total revenues	638,945			101,020			7,986			747,951			—			747,951
Merchandise cost of goods sold	223,475			43,050			—			266,525			—			266,525
Jewelry scrapping cost of goods sold	41,434			2,497			—			43,931			—			43,931
Other cost of revenues	—			—			1,988			1,988			—			1,988
Net revenues	374,036			55,473			5,998			435,507			—			435,507
Operating expenses (income):
Operations	260,089			36,419			8,448			304,956			—			304,956
Administrative	—			—			—			—			53,492			53,492
Depreciation and amortization	10,171			2,675			191			13,037			10,624			23,661
Loss on sale or disposal of assets	198			134			—			332			27			359
Interest expense	—			9			—			9			27,794			27,803
Interest income	—			(1,930		)	—			(1,930		)	(10,173		)	(12,103		)
Equity in net income of unconsolidated affiliates	—			—			(4,916		)	(4,916		)	—			(4,916		)
Other income	(19		)	(69		)	(96		)	(184		)	(239		)	(423		)
Segment contribution	$	103,597		$	18,235		$	2,371		$	124,203
Income from continuing operations before income taxes										$	124,203		$	(81,525	)	$	42,678

The following table presents separately identified segment assets:



	U.S. Pawn		Latin America Pawn		Other International		Corporate		Total

	(in thousands)
Assets as of September 30, 2019
Pawn loans	$	157,408	$	41,650	$	—	$	—	$	199,058
Pawn service charges receivable, net	27,623		4,179		—		—		31,802
Inventory, net	142,266		37,089		—		—		179,355
Total assets	635,152		202,565		35,041		210,944		1,083,702

Assets as of September 30, 2018
Pawn loans	$	154,986	$	43,477	$	—	$	—	$	198,463
Pawn service charges receivable, net	26,380		4,579		—		—		30,959
Inventory, net	135,154		31,843		—		—		166,997
Total assets	624,174		185,631		56,776		375,199		1,241,780

The net assets of our Latin America Pawn segment, exclusive of intercompany amounts and inclusive of certain other assets not separately identified above, were $205.3 million as of September 30, 2019.

The following tables provide geographic information required by ASC 280-10-50-41:



	Fiscal Year Ended September 30,
	2019		2018		2017

	(in thousands)
Revenues:
United States	$	650,413	$	635,780	$	638,945
Mexico	138,897		122,702		101,020
Other Latin America	52,288		45,554		—
Canada and other	5,631		8,120		7,986
Total revenues	$	847,229	$	812,156	$	747,951



	September 30,
	2019		2018

	(in thousands)
Long-lived tangible assets:
United States	$	43,274	$	52,310
Mexico	18,566		18,497
Other Latin America	5,432		2,489
Canada and other	85		353
Total long-lived assets	$	67,357	$	73,649