Acquisitions |
9 Months Ended |
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Sep. 30, 2026 | |
| Business Combination [Abstract] | |
| Acquisitions | Acquisitions Pending Ramsdens Acquisition On June 23, 2026, the Company agreed on terms of the acquisition of Ramsdens, a leading pawn operator in the U.K. with over 175 store locations, whereby the Company will acquire the entire issued and to be issued share capital of Ramsdens by means of a court-sanctioned scheme of arrangement under Part 26 of the U.K. Companies Act 2006, as amended (“Ramsdens Acquisition”). On July 16, 2026, the Company agreed on revised terms of the acquisition to increase the cash price to be received by Ramsdens’ shareholders. Under the revised terms of the Ramsdens Acquisition, Ramsdens’ shareholders will be entitled to receive 675 pence per share in cash. The total equity value for the Ramsdens Acquisition is approximately £228.6 million ($303.7 million USD using GBP/USD exchange rate of 1.33). During the third quarter of 2026, both the Ramsdens’ shareholders and the U.K. financial regulator (Financial Conduct Authority) approved the acquisition. The Ramsdens Acquisition is expected to be consummated by the end of 2026, pending receipt of the required U.K. anti-trust approval and satisfaction of the remaining customary closing conditions. Pawn Acquisitions Consistent with the Company’s strategy to continue its expansion of pawn stores in strategic markets, during the nine months ended September 30, 2026, the Company acquired 11 pawn stores in the U.S. in five separate transactions and one store in the U.K. in a separate transaction. The aggregate purchase price for these acquisitions totaled $16.5 million, net of cash acquired and subject to future post-closing adjustments. The aggregate purchase price was composed of $15.8 million in cash paid during the nine months ended September 30, 2026 and remaining short-term amounts payable to certain of the sellers of $0.7 million. During the nine months ended September 30, 2026, the Company also paid $5.3 million of purchase price amounts payable related to prior-year pawn acquisitions. The purchase price of each of the 2026 acquisitions was allocated to assets acquired and liabilities assumed based upon the estimated fair values at the date of acquisition. The excess purchase price over the estimated fair value of the net assets acquired has been recorded as goodwill. The goodwill arising from these acquisitions consists largely of the synergies and economies of scale expected from combining the operations of the Company and the pawn stores acquired. The acquisitions were not material, individually or in the aggregate, to the Company’s consolidated financial statements. H&T Acquisition The Company completed the acquisition of H&T Group plc (“H&T”), the leading pawn operator in the U.K., on August 14, 2025, the date on which the balance sheet and operating results of H&T were included in the Company’s consolidated financial results (the “H&T Acquisition”). The purchase price allocation for the H&T Acquisition was finalized upon the conclusion of the measurement period on August 14, 2026. No material measurement period adjustments were recognized during the three month and nine month periods ended September 30, 2026.
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