Company: FCFS
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000840489-25-000098
Chunk: 55

Company: FirstCash Holdings, Inc.
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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 the second quarter of 2024, primarily due to higher average total long-term debt balances outstanding. See Note 8 of Notes to Consolidated Financial Statements and “Liquidity and Capital Resources.”

Merger and acquisition expenses increased 104% to $2.8 million during the second quarter of 2025 compared to $1.4 million in the second quarter of 2024, due primarily to expenses associated with the H&T Acquisition.

Consolidated effective income tax rates for the second quarter of 2025 and 2024 were 26.2% and 25.8%, respectively. On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”), which includes a broad range of tax reform provisions, was signed into law in the United States. The Company is currently evaluating the impact on future periods but does not expect the OBBBA to have a material impact on its effective tax rate in 2025.

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Operating Results for the Six Months Ended June 30, 2025 Compared to the Six Months Ended June 30, 2024 

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 six months ended June 30, 2025 compared to the six months ended June 30, 2024 (dollars in thousands). Operating expenses include salary and benefit expenses of pawn store-level employees, occupancy costs, bank charges, security, insurance, utilities, supplies and other costs incurred by the pawn stores.

Six Months EndedJune 30,20252024IncreaseU.S. Pawn SegmentRevenue:Retail merchandise sales (1)$501,143 $467,083 7 %Pawn loan fees268,896 243,306 11 %Wholesale scrap jewelry sales62,232 44,037 41 %Total revenue832,271 754,426 10 %Cost of revenue:  Cost of retail merchandise sold (2)288,907 272,363 6 %Cost of wholesale scrap jewelry sold53,489 36,535 46 %Total cost of revenue342,396 308,898 11 %Net revenue489,875 445,528 10 %Segment expenses:  Operating expenses262,766 244,087 8 %Depreciation and amortization15,691 14,244 10 %Total segment expenses278,457 258,331