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Finance Receivables, Net | 12 Months Ended
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Dec. 31, 2023
Receivables [Abstract] |
Finance Receivables, Net | FINANCE RECEIVABLES, NET Finance receivables, net, which include retail installment sales agreements and bank-originated loans, consist of the following (in thousands):
| As of December 31,
| 2023 |  | 2022
Finance receivables, gross | $ | 227,474 |  |  | $ | 195,987 |
Merchant partner discounts and premiums, net | (11,907) |  |  | (3,517) |
Unearned origination fees | (5,212) |  |  | (4,143) |
Finance receivables, amortized cost | 210,355 |  |  | 188,327 |
Less allowance for loan losses | (96,454) |  |  | (84,833) |
Finance receivables, net | $ | 113,901 |  |  | $ | 103,494 |
The following table details the changes in the allowance for loan losses (in thousands):
| As of December 31,
| 2023 |  |  |  | 2022
Balance at beginning of year | $ | 84,833 |  |  |  |  | $ | 75,574 |
Provision for loan losses | 123,030 |  |  |  |  | 118,502 |
Charge-offs | (117,961) |  |  |  |  | (114,535) |
Recoveries | 6,552 |  |  |  |  | 5,292 |
Balance at end of year | $ | 96,454 |  |  |  |  | $ | 84,833 |
The following is an assessment of the credit quality indicators of the amortized cost of finance receivables as of December 31, 2023 and 2022, by origination year (in thousands):
| Origination Year |  |
| 2023 |  | 2022 |  | 2021 |  | Total
As of December 31, 2023 |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |
1 to 30 days past due | $ | 20,538 |  |  | $ | 2,771 |  |  | $ | — |  |  | $ | 23,309 |
31 to 60 days past due | 10,892 |  |  | 1,627 |  |  | — |  |  | 12,519 |
61 to 89 days past due (1) | 8,634 |  |  | 1,565 |  |  | — |  |  | 10,199 |
Total past due finance receivables | 40,064 |  |  | 5,963 |  |  | — |  |  | 46,027 |
Current finance receivables | 147,213 |  |  | 17,115 |  |  | — |  |  | 164,328 |
Finance receivables, amortized cost | $ | 187,277 |  |  | $ | 23,078 |  |  | $ | — |  |  | $ | 210,355 |
| Origination Year |  |
| 2022 |  | 2021 |  | 2020 |  | Total
As of December 31, 2022 |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |
1 to 30 days past due | $ | 16,996 |  |  | $ | 3,534 |  |  | $ | — |  |  | $ | 20,530 |
31 to 60 days past due | 8,290 |  |  | 1,869 |  |  | — |  |  | 10,159 |
61 to 89 days past due (1) | 6,732 |  |  | 1,779 |  |  | — |  |  | 8,511 |
Total past due finance receivables | 32,018 |  |  | 7,182 |  |  | — |  |  | 39,200 |
Current finance receivables | 129,008 |  |  | 20,119 |  |  | — |  |  | 149,127 |
Finance receivables, amortized cost | $ | 161,026 |  |  | $ | 27,301 |  |  | $ | — |  |  | $ | 188,327 |
(1)The Company charges off finance receivables when a receivable is 90 days or more contractually past due.

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