Company: FCFS
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000840489-25-000055
Chunk: 26

Company: FirstCash Holdings, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 26
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4 having a commercial value of approximately $1.5 billion. In addition, the Company recycles significant volumes of precious metals and diamonds when unwanted or broken jewelry is collected and melted/processed by the Company and then resold as a commodity for future commercial use. During 2024, the Company recycled over 57,000 ounces of gold and approximately 47,000 carats of diamonds with a combined market value of over $130 million. This process helps reduce demand for mined precious metals and diamonds, which benefits the environment by reducing carbon emissions, water usage and other harmful environmental impacts of mining.

Unlike most brick-and-mortar or online retailers, the Company does not rely on supply chains or manufacturing for most of its retail inventories, as it sources the majority of its inventory from unredeemed pawn collateral and merchandise purchased directly from customers living or working near the Company’s pawn stores. Accordingly, the Company for the most part does not own, operate or contract for any manufacturing, supply chain, warehousing or distribution facilities to support its pawn operations. The Company does not own, lease or operate any long-haul trucks to support its more than 3,000 pawn locations and, other than operating small storefront locations which are typically 5,000 square feet or less, the Company’s operations leave a limited carbon footprint compared to manufacturers and retailers selling new merchandise with extensive supply chain and distribution channels. Additionally, almost all retail sales and pawn loans are made to customers who live or work within a tight geographic radius of the Company’s stores. The Company is working to further reduce energy consumption by continuing to retrofit its offices and stores with LED lighting and more energy efficient HVAC equipment.

Safe and Rapid Capital Access Solutions in Underserved Communities

According to multiple studies and surveys, approximately 25% of U.S. households remain unbanked or under-banked. In Latin America, the number of unbanked or under-banked consumers can be as much as 75% of the local population. As a result, the majority of the Company’s customers have limited access to traditional forms of credit or capital. The Company contributes to its communities by providing such customers with instant access to capital through very small, non-recourse pawn loans or by purchasing merchandise from these customers. The average credit provided by the Company’s pawn business to a customer is $283 in the U.S. and $87 in Latin America, per transaction, as of December 31, 2024. Traditional lenders such as banks, credit unions, credit card providers or other small