Company: IMXI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001683695-25-000030
Chunk: 142

Company: International Money Express, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 142
---
,595 Bank charges and fees26,497 25,065 21,314 Salaries and benefits68,247 70,203 52,224 Other segment items (1)60,511 58,430 42,818 Restructuring costs3,060 1,214 — Transaction costs1,819 445 3,005 Depreciation and amortization13,645 12,866 9,470 Total operating expenses563,633 563,245 463,897 Operating income95,016 95,490 82,908 Interest expense11,745 10,426 5,629 Income before income taxes83,271 85,064 77,279 Income tax provision24,450 25,549 19,948 Net income$58,821 $59,515 $57,331 (1) Other segment items included in Segment net income is primarily composed of other selling, general and administrative expenses, transaction processing costs, provision for credit losses, and other overhead expenses.

NOTE 19 – COMMITMENTS AND CONTINGENCIES

Contingencies and Legal ProceedingsThe Company is subject to legal proceedings and claims that have arisen in the ordinary course of its business and have not been finally adjudicated. Although there can be no assurance as to the ultimate disposition of these matters, it is the opinion of the Company’s management, based upon the information available at this time and the stage of the proceedings, that it is not possible to determine the probability of loss or estimate of damages, and therefore, the Company has not established a reserve for any of these proceedings.The Company operates in all 50 states in the United States, two U.S. territories and eight other countries. Money transmitters and their agents are under regulation by state and federal laws. Violations may result in civil or criminal penalties or a prohibition from providing money transfer services in a particular jurisdiction. It is the opinion of the Company’s management, based on information available at this 

F-31

time, that the expected outcome of regulatory examinations will not have a material adverse effect on either the results of operations or financial condition of the Company.Regulatory RequirementsPursuant to applicable licensing laws, certain domestic and foreign subsidiaries of the Company are required to maintain minimum tangible net worth and liquid assets (eligible securities) to cover the amount outstanding of wire transfers and money orders payable. As of December 31, 2024 and 2023, the Company