Segment Information

6 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information

NOTE 11: 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 ("CODM") 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 results of Cash Converters and RDC along with our investment in 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 tables present revenue for each reportable segment, disaggregated revenue within our three reportable segments and Corporate, segment profits and segment contribution.

	Three Months Ended March 31, 2022
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated
Revenues:
Merchandise sales	$	100,064	$	33,492	$	—	$	133,556	$	—	$	133,556
Jewelry scrapping sales	3,480		2,210		—		5,690		—		5,690
Pawn service charges	58,772		17,911		—		76,683		—		76,683
Other revenues	24		—		29		53		—		53
Total revenues	162,340		53,613		29		215,982		—		215,982
Merchandise cost of goods sold	58,613		23,633		—		82,246		—		82,246
Jewelry scrapping cost of goods sold	2,798		2,010		—		4,808		—		4,808
Net revenues	100,929		27,970		29		128,928		—		128,928
Segment and corporate expenses (income):
Store expenses	64,492		21,251		—		85,743		—		85,743
General and administrative	—		—		—		—		12,227		12,227
Depreciation and amortization	2,625		1,891		—		4,516		2,934		7,450
Gain on sale or disposal of assets and other	—		(9)		—		(9)		(688)		(697)
Interest expense	—		—		—		—		2,527		2,527
Interest income	—		(255)		—		(255)		—		(255)
Equity in net loss of unconsolidated affiliates	—		—		1,439		1,439		—		1,439
Other expense	—		334		8		342		29		371
Segment contribution (loss)	$	33,812	$	4,758	$	(1,418)	$	37,152
Income (loss) before income taxes							$	37,152	$	(17,029)	$	20,123

	Three Months Ended March 31, 2021
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated
Revenues:
Merchandise sales	$	93,827	$	21,398	$	—	$	115,225	$	—	$	115,225
Jewelry scrapping sales	3,581		2,494		—		6,075		—		6,075
Pawn service charges	49,577		13,859		—		63,436		—		63,436
Other revenues	29		—		174		203		—		203
Total revenues	147,014		37,751		174		184,939		—		184,939
Merchandise cost of goods sold	51,812		13,978		—		65,790		—		65,790
Jewelry scrapping cost of goods sold	3,149		2,252		—		5,401		—		5,401
Net revenues	92,053		21,521		174		113,748		—		113,748
Segment and corporate expenses (income):
Store expenses	63,657		17,492		—		81,149		—		81,149
General and administrative	—		—		—		—		13,771		13,771
Depreciation and amortization	2,636		1,793		—		4,429		3,660		8,089
Loss on sale or disposal of assets and other	—		101		—		101		11		112
Interest expense	—		—		—		—		5,518		5,518
Interest income	—		(571)		—		(571)		(14)		(585)
Equity in net income of unconsolidated affiliates	—		—		(1,250)		(1,250)		—		(1,250)
Other expense	—		85		9		94		51		145
Segment contribution	$	25,760	$	2,621	$	1,415	$	29,796
Income (loss) before income taxes							$	29,796	$	(22,997)	$	6,799

	Six Months Ended March 31, 2022
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated
Revenues:
Merchandise sales	$	202,142	$	69,134	$	—	$	271,276	$	—	$	271,276
Jewelry scrapping sales	8,460		4,174		—		12,634		—		12,634
Pawn service charges	115,329		37,379		—		152,708		—		152,708
Other revenues	46		240		72		358		—		358
Total revenues	325,977		110,927		72		436,976		—		436,976
Merchandise cost of goods sold	116,445		48,912		—		165,357		—		165,357
Jewelry scrapping cost of goods sold	6,773		3,807		—		10,580		—		10,580
Net revenues	202,759		58,208		72		261,039		—		261,039
Segment and corporate expenses (income):
Store expenses	129,181		43,333		—		172,514		—		172,514
General and administrative	—		—		—		—		27,772		27,772
Depreciation and amortization	5,295		3,871		—		9,166		5,858		15,024
Gain on sale or disposal of assets and other	—		(4)		—		(4)		(688)		(692)
Interest expense	—		—		—		—		4,958		4,958
Interest income	—		(437)		—		(437)		(122)		(559)
Equity in net loss of unconsolidated affiliates	—		—		301		301		—		301
Other expense (income)	—		200		(4)		196		55		251
Segment contribution (loss)	$	68,283	$	11,245	$	(225)	$	79,303
Income (loss) before income taxes							$	79,303	$	(37,833)	$	41,470

	Six Months Ended March 31, 2021
(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Total Segments		Corporate Items		Consolidated
Revenues:
Merchandise sales	$	176,080	$	46,928	$	—	$	223,008	$	—	$	223,008
Jewelry scrapping sales	7,585		5,249		—		12,834		—		12,834
Pawn service charges	99,797		27,128		—		126,925		—		126,925
Other revenues	51		7		249		307		—		307
Total revenues	283,513		79,312		249		363,074		—		363,074
Merchandise cost of goods sold	99,871		30,462		—		130,333		—		130,333
Jewelry scrapping cost of goods sold	5,993		4,610		—		10,603		—		10,603
Other cost of revenues	—		—				—		—		—
Net revenues	177,649		44,240		249		222,138		—		222,138
Segment and corporate expenses (income):
Store expenses	125,749		34,709		—		160,458		—		160,458
General and administrative	—		—		—		—		26,281		26,281
Depreciation and amortization	5,372		3,653		—		9,025		6,636		15,661
Loss on sale or disposal of assets and other	27		—		—		27		63		90
Interest expense	—		—		—		—		10,973		10,973
Interest income	—		(1,335)		—		(1,335)		(71)		(1,406)
Equity in net income of unconsolidated affiliates	—		—		(1,766)		(1,766)		—		(1,766)
Other (income) expense	—		(370)		(201)		(571)		117		(454)
Segment contribution	$	46,501	$	7,583	$	2,216	$	56,300
Income (loss) before income taxes							$	56,300	$	(43,999)	$	12,301

The following table presents separately identified net earning assets by segment:

(in thousands)	U.S. Pawn		Latin America Pawn		Other Investments		Corporate Items		Total
As of March 31, 2022
Pawn loans	$	133,515	$	40,103	$	—	$	—	$	173,618
Inventory, net	93,320		26,570		—		—		119,890
As of March 31, 2021
Pawn loans	$	95,369	$	29,899	$	—	$	—	125,268
Inventory, net	69,782		16,432		—		—		86,214