Company: FCFS
Filing Date: 2025-02-03
Form Type: 10-K
Source: 0000840489-25-000032
Chunk: 31

Company: FirstCash Holdings, Inc.
Filing Date: 2025-02-03
Form: 10-K
Item: Item 7
Chunk 31
---
asurement gains or losses (1) because they are non-cash, non-operating items that could create volatility in the Company’s consolidated results of operations due to the magnitude of the end of period lease liability being remeasured and (2) to improve comparability of current periods presented with prior periods.

61

Adjusted Net Income and Adjusted Diluted Earnings Per Share

Management believes the presentation of adjusted net income and adjusted diluted earnings per share provides investors with greater transparency and provides a more complete understanding of the Company’s financial performance and prospects for the future by excluding items that management believes are non-operating in nature and are not representative of the Company’s core operating performance. In addition, management believes the adjustments shown below are useful to investors in order to allow them to compare the Company’s financial results for the current periods presented with the prior periods presented.

The following table provides a reconciliation between net income and diluted earnings per share, calculated in accordance with GAAP, to adjusted net income and adjusted diluted earnings per share, which are shown net of tax (unaudited, in thousands, except per share amounts):

Year Ended December 31, 202420232022202420232022In ThousandsIn ThousandsIn ThousandsPer SharePer SharePer ShareNet income and diluted earnings per share, as reported$258,815 $219,301 $253,495 $5.73 $4.80 $5.36 Adjustments, net of tax:Merger and acquisition expenses1,706 6,089 2,878 0.04 0.13 0.06 Non-cash foreign currency loss (gain) related to lease liability2,627 (1,778)(930)0.06 (0.04)(0.02)AFF purchase accounting and other adjustments38,289 54,341 82,432 0.85 1.19 1.74 Gain on revaluation of contingent acquisition consideration— — (90,035)— — (1.91)Other expenses (income), net1,243 (1,079)(2,103)0.02 (0.02)(0.04)Adjusted net income and diluted earnings per share$302,680 $276,874 $245,737 $6.70 $6.06 $5.19 

62

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and