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v3.23.3

Leased Merchandise, Net | 9 Months Ended
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Sep. 30, 2023
Receivables [Abstract] |
Leased Merchandise, Net | Leased Merchandise, Net Leased merchandise, net consists of the following (in thousands):
| As of September 30, |  | As of December 31,
| 2023 |  | 2022 |  | 2022
Leased merchandise (1) | $ | 365,677 |  |  | $ | 292,374 |  |  | $ | 335,038 |
Processing fees | (4,155) |  |  | (3,449) |  |  | (4,124) |
Merchant partner discounts and premiums, net | 2,566 |  |  | 2,114 |  |  | 2,456 |
Accumulated depreciation | (115,774) |  |  | (81,343) |  |  | (100,879) |
Leased merchandise, before allowance for lease losses | 248,314 |  |  | 209,696 |  |  | 232,491 |
Less allowance for lease losses | (105,145) |  |  | (77,599) |  |  | (79,189) |
Leased merchandise, net | $ | 143,169 |  |  | $ | 132,097 |  |  | $ | 153,302 |
(1)Acquired leased merchandise in the AFF acquisition was recorded at fair value. The following table details the changes in the allowance for lease losses (in thousands):
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Balance at beginning of period | $ | 110,972 |  |  | $ | 69,101 |  |  | $ | 79,189 |  |  | $ | 5,442 |
Provision for lease losses | 39,736 |  |  | 31,916 |  |  | 141,674 |  |  | 109,771 |
Charge-offs | (47,225) |  |  | (24,538) |  |  | (120,726) |  |  | (40,859) |
Recoveries | 1,662 |  |  | 1,120 |  |  | 5,008 |  |  | 3,245 |
Balance at end of period | $ | 105,145 |  |  | $ | 77,599 |  |  | $ | 105,145 |  |  | $ | 77,599 |

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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 -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310-10/tableOfContent + Details
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- References No definition available. + Details
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