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Leased Merchandise, Net | 6 Months Ended
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Jun. 30, 2022
Receivables [Abstract] |
Leased Merchandise, Net | Leased Merchandise, Net Leased merchandise, net consists of the following (in thousands):
| As of June 30, |  | As of December 31,
| 2022 |  | 2021 |  | 2021
Leased merchandise (1) | $ | 255,559 |  |  | $ | — |  |  | $ | 156,280 |
Processing fees | (2,882) |  |  | — |  |  | (440) |
Merchant partner discounts and premiums, net | 1,862 |  |  | — |  |  | 310 |
Accumulated depreciation | (66,514) |  |  | — |  |  | (6,764) |
Leased merchandise, before allowance for lease losses | 188,025 |  |  | — |  |  | 149,386 |
Allowance for lease losses | (69,101) |  |  | — |  |  | (5,442) |
Leased merchandise, net | $ | 118,924 |  |  | $ | — |  |  | $ | 143,944 |
(1)Acquired leased merchandise in the AFF Acquisition was recorded at fair value. Changes in the allowance for lease losses were as follows (in thousands):
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Balance at beginning of period | $ | 40,364 |  |  | $ | — |  |  | $ | 5,442 |  |  | $ | — |
Provision for lease losses | 38,035 |  |  | — |  |  | 77,855 |  |  | — |
Charge-offs | (10,301) |  |  | — |  |  | (16,321) |  |  | — |
Recoveries | 1,003 |  |  | — |  |  | 2,125 |  |  | — |
Balance at end of period | $ | 69,101 |  |  | $ | — |  |  | $ | 69,101 |  |  | $ | — |

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
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