Company: FCFS
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0000840489-25-000061
Chunk: 58

Company: FirstCash Holdings, Inc.
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 operating activities or other income statement data prepared in accordance with GAAP. The following table reconciles cash flow from operating activities to free cash flow and adjusted free cash flow (in thousands):

Trailing TwelveThree Months EndedMonths EndedMarch 31,March 31,2025202420252024Cash flow from operating activities$126,640 $122,532 $544,066 $428,080 Cash flow from certain investing activities:Pawn loans, net (1) 19,440 25,149 (77,708)(54,187)Finance receivables, net(20,566)(15,311)(144,569)(106,213)Purchases of furniture, fixtures, equipment and improvements(12,914)(26,427)(54,732)(72,747)Free cash flow112,600 105,943 267,057 194,933 Merger and acquisition expenses paid, net of tax benefit354 457 1,603 6,524 Adjusted free cash flow$112,954 $106,400 $268,660 $201,457 

(1)Includes the funding of new loans net of cash repayments and recovery of principal through the sale of inventories acquired from forfeiture of pawn collateral.

Constant Currency Results

The Company’s reporting currency is the U.S. dollar, however, certain performance metrics discussed in this report are presented on a “constant currency” basis, which is considered a non-GAAP financial measure. The Company’s management uses constant currency results to evaluate operating results of business operations in Latin America, which are transacted in local currencies in Mexico, Guatemala and Colombia. The Company also has operations in El Salvador, where the reporting and functional currency is the U.S. dollar.

The Company believes constant currency results provide valuable supplemental information regarding the underlying performance of its business operations in Latin America, consistent with how the Company’s management evaluates such performance and operating results. Constant currency results reported herein are calculated by translating certain balance sheet and income statement items denominated in local currencies using the exchange rate from the prior-year comparable period, as opposed to the current comparable period, in order to exclude the effects of foreign currency rate fluctuations for purposes of evaluating period-over-period comparisons. See the Latin America pawn segment tables in “Results of Operations” above for additional reconciliation of certain constant currency amounts to as reported GAAP amounts.

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The following table provides exchange rates for the Mexican peso, Guatemalan quetzal and Colombian peso