Company: FCFS
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000840489-25-000098
Chunk: 122

Company: FirstCash Holdings, Inc.
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 8
Chunk 122
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4,065 54 %Balance at end of period$122,874 $99,961 23 %Finance receivables portfolio metrics:Provision rate (2)27 %30 %Average monthly net charge-off rate (3)4.4 %4.7 %Delinquency rate (4)20.6 %20.0 %

(1)Includes $0.2 million and $0.3 million of provision for lease losses from intersegment transactions for the six months ended June 30, 2025 and 2024, respectively, related to the Company offering AFF’s LTO payment solution in its U.S. pawn stores that are eliminated upon consolidation. Excluding these intersegment transactions, consolidated provision for lease losses for the six months ended June 30, 2025 and 2024 totaled $60.1 million and $90.7 million, respectively.

(2)Calculated as provision for lease or loan losses as a percentage of the respective gross transaction volume originated. 

(3)Calculated as charge-offs, net of recoveries, as a percentage of the respective average earning asset balance before allowance for lease or loan losses.

(4)Calculated as the percentage of the respective contractual earning asset balance owed that is 1 to 89 days past due (the Company charges off leases and finance receivables when they are 90 days or more contractually past due).

44

LTO Operations

Leased merchandise income decreased 26% to $296.7 million during the six months ended June 30, 2025 compared to $400.2 million for the six months ended June 30, 2024, which was primarily due to lower average leased merchandise balances outstanding during the six months ended June 30, 2025 compared to the six months ended June 30, 2024.

Depreciation of leased merchandise decreased 28% to $167.7 million during the six months ended June 30, 2025 compared to $231.3 million during the six months ended June 30, 2024, primarily due to the decrease in leased merchandise balances outstanding. As a percentage of leased merchandise income, depreciation of leased merchandise decreased slightly to 57% during the six months ended June 30, 2025 from 58% during the six months ended June 30, 2024.

Provision for lease losses decreased 34% to $60.3 million during the six months ended June