Company: FCFS
Filing Date: 2025-07-28
Form Type: 10-Q
Source: 0000840489-25-000098
Chunk: 54

Company: FirstCash Holdings, Inc.
Filing Date: 2025-07-28
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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Three Months EndedJune 30, 20252024Consolidated Results of OperationsSegment pre-tax operating income:U.S. pawn$98,286 $90,595 Latin America pawn40,980 37,113 Retail POS payment solutions37,939 25,909 Intersegment elimination (1)34 84 Consolidated segment pre-tax operating income177,239 153,701 Corporate expenses and other income:  Administrative expenses59,263 46,602 Depreciation and amortization12,780 13,220 Interest expense26,337 25,187 Interest income(527)(261)(Gain) loss on foreign exchange(1,271)1,437 Merger and acquisition expenses2,777 1,364 Other income, net(3,199)(26)Total corporate expenses and other income96,160 87,523 Income before income taxes81,079 66,178 Provision for income taxes21,274 17,105   Net income$59,805 $49,073 

(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 27% to $59.3 million during the second quarter of 2025 compared to $46.6 million in the second quarter of 2024, primarily due to the $11.0 million CFPB litigation settlement accrued for in the second quarter of 2025, a slight increase in the pawn store count and general inflationary impacts, partially offset by a 13% change in the average value of the Mexican peso resulting in lower U.S. dollar translated administrative expenses in Latin America. As a percentage of revenue, administrative expenses were 7% in the second quarter of 2025 compared to 6% during the second quarter of 2024.

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Depreciation and amortization decreased 3% to $12.8 million during the second quarter of 2025 compared to $13.2 million in the second quarter of 2024, primarily due to a scheduled $0.4 million decrease in amortization of acquired AFF intangible assets.

Interest expense increased 5% to $26.3 million during the second quarter of 2025 compared to $25.2 million in