XML 44 R17.htm IDEA: XBRL DOCUMENT v3.22.0.1
Leased Merchandise, Net
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Leased Merchandise, Net LEASED MERCHANDISE, NET
Leased merchandise, net consists of the following (in thousands):

As of December 31,
20212020
Leased merchandise (1)
$156,280 $— 
Processing fees(440)— 
Merchant partner discounts and premiums, net310 — 
Accumulated depreciation(6,764)— 
Leased merchandise, before allowance for lease losses149,386 — 
Allowance for lease losses5,442 — 
Leased merchandise, net$143,944 $— 

(1)Acquired leased merchandise in the AFF Acquisition was recorded at fair value. See Note 3.
Changes in the allowance for lease losses are as follows (in thousands):

As of December 31,
 20212020
Balance at beginning of year$— $— 
Provision for lease losses (1)
5,442 — 
Charge-offs (2)
— — 
Recoveries— — 
Balance at end of year$5,442 $— 

(1)Represents the provision for lease losses on leases originated from December 17, 2021 through December 31, 2021.
(2)Acquired leased merchandise in the AFF Acquisition was recorded at fair value. As a result, leased merchandise charged-off between December 17, 2021 and December 31, 2021 was allocated no fair value. See Note 3