AndSubsidiariesGPMXMember2017-10-310000876523ezpw:CamiraAdministrationCorp. There is no trading market for the Class B Voting Common Stock. Business31A. Risk Factors111B. Unresolved Staff Comments182. Financial Statements and Supplementary Data399. Principal Accountant Fees and Services112PART IV15. We earn pawn service charges on our pawn loans, which varies by state and loan size. The U.S. pawn loan term generally ranges between 30 and 90 days. All of the stores were located in the Ontario province, in and around Toronto. Team Members in our Corporate Support Centers have been working from home since March. The pawn industry in the United States is large, relatively mature and highly fragmented. The following is a general description of significant regulations affecting our business. Historically, we have not experienced a material number of claims of this nature. Anti-money laundering regulations restrict the use of cash in certain transactions. The public can obtain any documents that we file with the SEC at www.sec.gov. Information contained on our website is not incorporated by reference into this report. A significant portion of our U.S. business is concentrated in Texas and Florida. We regularly experience fluctuations in a variety of operating metrics. Consequently, we may not realize the expected return on our investment. We invested in Cash Converters International Limited for strategic reasons. Accordingly, we did not record an impairment at that date. Not all such losses will be covered by insurance. We performed a quantitative analysis as of March 31, 2020 utilizing the income approach. We have outstanding a total of $316.3 million of convertible notes. These factors could harm our business and results of operations. We may face business interruptions or other adverse effects on our operations and growth. Further, we may experience information technology or other business systems disruptions. Our stores are open six or seven days a week. Our strategy generally is to lease rather than own space for our stores. See "Part I, Item 1A - Risk Factors. As a result, 30 stores suffered losses and damages during the riots and looting activity. Pawn loans outstanding decreased 34% during fiscal 2020. During the fourth quarter, we closed our CASHMAX business. Prior to repayment, the principal amount of these notes was $195.0 million. Significant judgment is required in determining uncertain tax positions. We believe adequate provisions for income taxes have been made for all periods. They include the accounts of EZCORP, Inc., and its wholly-owned subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation. The receivables outstanding at the end of a given reporting period are not material. Our transaction prices are explicitly stated within the contracts with our customers. Our inventory consists primarily of general merchandise and jewelry. Those estimates may vary from actual results. We evaluate renewal options periodically for any changes in assumptions. Right-of-use assets are tested for impairment in the same manner as long-lived assets. We generally account for the initial lease term of our pawn locations as up to ten years. We expense transaction costs as incurred. Income TaxesWe account for income taxes using the asset and liability method. All Class A Common Stock is publicly held. ASU 2020-04 is effective upon issuance through December 31, 2022. We included no control premium for owning a
