Company: FCFS
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000840489-25-000098
Chunk: 20

Company: FirstCash Holdings, Inc.
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 including cash consideration for the shares, is approximately £291.4 million ($396.3 million USD using GBP/USD exchange rate of 1.36) and H&T had outstanding indebtedness of approximately £72.6 million as of June 30, 2025 ($98.7 million USD using GBP/USD exchange rate of 1.36), which the Company expects will remain outstanding following the closing of the acquisition. 

On July 2, 2025, the H&T shareholders approved the H&T Acquisition, which is expected to be consummated in the third quarter of 2025, subject to the satisfaction of the remaining closing conditions, including, but not limited to, receipt of the required approvals by the FCA.

U.S. Pawn Acquisitions

Consistent with the Company’s strategy to continue its expansion of pawn stores in strategic markets, during the six months ended June 30, 2025, the Company acquired four pawn stores in the U.S. in two separate transactions. The aggregate purchase price for these acquisitions totaled $33.0 million, net of cash acquired and subject to future post-closing adjustments. The aggregate purchase price was composed of $31.3 million in cash paid during the six months ended June 30, 2025 and remaining short-term amounts payable to certain of the sellers of $1.7 million. During the six months ended June 30, 2025, the Company also paid $2.3 million of purchase price amounts payable related to prior-year pawn acquisitions.

9

The purchase price of each of the 2025 acquisitions was allocated to assets acquired and liabilities assumed based upon the estimated fair values at the date of acquisition. The excess purchase price over the estimated fair value of the net assets acquired has been recorded as goodwill. The goodwill arising from these acquisitions consists largely of the synergies and economies of scale expected from combining the operations of the Company and the pawn stores acquired. These acquisitions were not material individually or in the aggregate to the Company’s consolidated financial statements.

Note 4 - Operating Leases 

LessorFor information about the Company’s revenue-generating activities as a lessor, refer to the “Leased merchandise and revenue recognition” section of Note 2 to the consolidated financial statements included in the Company’s 2024 Annual Report on Form 10-K. All of the Company’s lease agreements are considered operating leases.LesseeThe Company leases the majority of its pawnshop locations and certain administrative offices under operating leases and determines if