14 unchanged sentences
Foreign Currency Risk
−Removed: The financial statements of the Company’s subsidiaries in Mexico, Guatemala and Colombia are translated into U.S.
+Added: The financial statements of the Company’s subsidiaries in Mexico, Guatemala, Colombia and the U.K.
+Added: are translated into U.S.
dollars using period-end exchange rates for assets and liabilities and average exchange rates for revenues and expenses.
1 unchanged sentence
The Company also has operations in El Salvador, where the reporting and functional currency is the U.S.
−Removed: On a dollar-translated basis, Latin America revenues and cost of revenues accounted for 24% and 22%, respectively, of consolidated amounts for the year ended December 31, 2024.
−Removed: The majority of Latin America revenues and expenses are denominated in currencies other than the U.S.
−Removed: dollar, and the Company, therefore, has foreign currency risk related to these currencies, which are primarily the Mexican peso, and, to a much lesser extent, the Guatemalan quetzal and Colombian peso.
+Added: On a dollar-translated basis, foreign revenues and cost of revenues accounted for 28% and 27%, respectively, of consolidated amounts for the year ended December 31, 2025.
+Added: The majority of foreign revenues and expenses are denominated in currencies other than the U.S.
+Added: dollar, and the Company, therefore, has foreign currency risk related to these currencies, which are primarily the Mexican peso and British pound sterling, and, to a much lesser extent, the Guatemalan quetzal and Colombian peso.
Accordingly, changes in exchange rates, and in particular a weakening of foreign currencies relative to the U.S.
−Removed: dollar, may negatively affect the Company’s revenue and earnings of its Latin America pawn operations as expressed in U.S.
−Removed: For the year ended December 31, 2024, the Company’s Latin America revenues and pre-tax operating income would have been approximately $21.3 million and $3.6 million higher, respectively, had foreign currency exchange rates remained consistent with those for the year ended December 31, 2023.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations—Results of Operations” for further discussion of Latin America constant currency results.
+Added: dollar, may negatively affect the Company’s revenue and earnings of its foreign pawn operations as expressed in U.S.
+Added: For the year ended December 31, 2025, the Company’s foreign revenues and pre-tax operating income would have been approximately $36.9 million and $6.7 million higher, respectively, had foreign currency exchange rates remained consistent with those for the year ended December 31, 2024.
+Added: Management’s Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Information” for further discussion of constant currency results.
The Company does not use long-term foreign exchange contracts or derivatives to hedge foreign currency exposures.
The volatility of exchange rates depends on many factors that it cannot forecast with reliable accuracy.
−Removed: The Company’s continued Latin America expansion increases exposure to exchange rate fluctuations and, as a result, such fluctuations could have a significant impact on future results of operations.
+Added: The Company’s continued international expansion increases exposure to exchange rate fluctuations and, as a result, such fluctuations could have a significant impact on future results of operations.
The average value of the Mexican peso to the U.S.
2 unchanged sentences
dollar exchange rate would have impacted 2025 annual earnings by approximately $4.4 million.
−Removed: The impact of foreign exchange rates in Guatemala and Colombia is not material to the Company’s financial position or results of operations.
+Added: The average value of the U.S.
+Added: dollar to the British pound sterling exchange rate for 2025 was 1.32 to 1 compared to 1.28 to 1 in 2024 and 1.24 to 1 in 2023.
+Added: The impact of foreign exchange rates in Guatemala, Colombia and the U.K.
+Added: is not material to the Company’s financial position or results of operations.
Interest Rate Risk
−Removed: The Company is potentially exposed to market risk in the form of interest rate risk for its long-term unsecured lines of credit.
−Removed: At December 31, 2024, the Company had $198.0 million outstanding under its U.S.
−Removed: revolving line of credit.
−Removed: The revolving lines of credit are generally priced with a variable rate based on a fixed spread over SOFR or the Mexican Central Bank’s interbank equilibrium rate (“TIIE”) and repriced with any changes in SOFR or TIIE.
+Added: The Company is potentially exposed to market risk in the form of interest rate risk for its long-term lines of credit.
+Added: At December 31, 2025, the Company had $613.5 million outstanding under its revolving lines of credit.
+Added: The revolving lines of credit are generally priced with a variable rate based on a fixed spread over the prevailing secured overnight financing rate (“SOFR”), the Mexican Central Bank’s interbank equilibrium rate (“TIIE”) or the Sterling Overnight Index Average (“SONIA”) and repriced with any changes in SOFR, TIIE or SONIA.
Based on the $613.5 million in outstanding borrowings at December 31, 2025, a 1% (100 basis points) increase in interest rates would have increased the Company’s annual interest expense by approximately $6.1 million for 2025.
9 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.