Company: FCFS
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000840489-25-000032
Chunk: 13

Company: FirstCash Holdings, Inc.
Filing Date: 2025-02-03
Form: 10-K
Item: Item 7
Chunk 13
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, 2024.

Stores included in the same-store calculations presented in the U.S. pawn segment and Latin America pawn segment sections below are those stores that were opened or acquired prior to the beginning of the prior-year comparative period and remained open through the end of the reporting period. Also included are stores that were relocated during the applicable period within a specified distance and are serving the same market, where there is not a significant change in store size, and where there is not a significant overlap or gap in timing between the opening of the new store and the closing of the existing store. 

46

U.S. Pawn Segment

The following table presents segment pre-tax operating income and other operating metrics of the U.S. pawn segment for the year ended December 31, 2024 compared to the year ended December 31, 2023 (dollars in thousands). Operating expenses include salary and benefit expense of pawn store-level employees, occupancy costs, bank charges, security, insurance, utilities, supplies and other costs incurred by the pawn stores.

Year EndedDecember 31,20242023IncreaseU.S. Pawn SegmentRevenue:Retail merchandise sales (1)$969,371 $854,190 13 %Pawn loan fees505,262 435,762 16 %Wholesale scrap jewelry sales93,923 78,571 20 %Total revenue1,568,556 1,368,523 15 %Cost of revenue:  Cost of retail merchandise sold (2)560,970 490,544 14 %Cost of wholesale scrap jewelry sold77,683 64,545 20 %Total cost of revenue638,653 555,089 15 %Net revenue929,903 813,434 14 %Segment expenses:  Operating expenses503,630 451,543 12 %Depreciation and amortization28,980 25,585 13 %Total segment expenses532,610 477,128 12 %Segment pre-tax operating income$397,293 $336,306 18 %Operating metrics:Retail merchandise sales margin42 %43 %Net revenue margin59 %59 %Segment pre-tax operating margin25 %25 %

(1)Includes $4.1 million and $6.5 million of retail merchandise sales from intersegment transactions during 2024 and 2023, respectively, related to the Company offering AFF’s LTO payment solution in its U.S. pawn