Company: FCFS
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000840489-25-000098
Chunk: 164

Company: FirstCash Holdings, Inc.
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 2
Chunk 164
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 months ended June 30, 2025 was $90.2 million compared to $59.1 million in the six months ended June 30, 2024. The increase was primarily the result of the increase in segment net revenue and a decrease in operating expenses.

45

Consolidated Results of Operations

The following table reconciles pre-tax operating income of the Company’s U.S. pawn segment, Latin America pawn segment and retail POS payment solutions segment, discussed above, to consolidated net income for the six months ended June 30, 2025 compared to the six months ended June 30, 2024 (dollars in thousands):

Six Months EndedJune 30, 20252024Consolidated Results of OperationsSegment pre-tax operating income:U.S. operations $211,418 $187,197 Latin America pawn72,385 69,017 Retail POS payment solutions90,240 59,058 Intersegment eliminations (1)72 294 Consolidated segment pre-tax operating income374,115 315,566 Corporate expenses and other income:Administrative expenses107,786 90,620 Depreciation and amortization25,541 26,408 Interest expense53,808 50,605 Interest income(1,756)(1,004)(Gain) loss on foreign exchange(1,285)1,251 Merger and acquisition expenses3,239 1,961 Other income, net(5,514)(2,338)Total corporate expenses and other income181,819 167,503 Income before income taxes192,296 148,063 Provision for income taxes48,900 37,622 Net income$143,396 $110,441 

(1)Represents the elimination of intersegment transactions related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores. For further detail, see Note 10 of Notes to Consolidated Financial Statements.

Corporate Expenses and Taxes

Administrative expenses increased 19% to $107.8 million during the six months ended June 30, 2025 compared to $90.6 million during the six months ended June 30, 2024, primarily due to the $11.0 million CFPB litigation settlement accrued for in the second quarter of 2025, a slight increase in pawn store count and general inflationary impacts, partially offset by a 17% change in the average value of the