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Leased Merchandise, Net | 12 Months Ended
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Dec. 31, 2023
Receivables [Abstract] |
Leased Merchandise, Net | LEASED MERCHANDISE, NET Leased merchandise, net, consists of the following (in thousands):
| As of December 31,
| 2023 |  | 2022
Leased merchandise | $ | 384,129 |  |  | $ | 335,038 |
Processing fees | (4,348) |  |  | (4,124) |
Merchant partner discounts and premiums, net | 2,501 |  |  | 2,456 |
Accumulated depreciation | (115,964) |  |  | (100,879) |
Leased merchandise, before allowance for lease losses | 266,318 |  |  | 232,491 |
Less allowance for lease losses | (95,127) |  |  | (79,189) |
Leased merchandise, net | $ | 171,191 |  |  | $ | 153,302 |
The following table details the changes in the allowance for lease losses (in thousands):
| As of December 31,
| 2023 |  |  |  | 2022
Balance at beginning of year | $ | 79,189 |  |  |  |  | $ | 5,442 |
Provision for lease losses | 175,858 |  |  |  |  | 139,502 |
Charge-offs | (166,630) |  |  |  |  | (70,114) |
Recoveries | 6,710 |  |  |  |  | 4,359 |
Balance at end of year | $ | 95,127 |  |  |  |  | $ | 79,189 |

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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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