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Finance Receivables, Net (Tables) | 3 Months Ended
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Mar. 31, 2024
Receivables [Abstract] |
Schedule of Finance Receivables, Net | Finance receivables, net, which include retail installment sales agreements and bank-originated loans, consist of the following (in thousands):
| As of March 31, |  | As of December 31,
| 2024 |  | 2023 |  | 2023
Finance receivables, gross | $ | 222,087 |  |  | $ | 201,288 |  |  | $ | 227,474 |
Merchant partner discounts and premiums, net | (15,221) |  |  | (6,328) |  |  | (11,907) |
Unearned origination fees | (5,193) |  |  | (4,257) |  |  | (5,212) |
Finance receivables, amortized cost | 201,673 |  |  | 190,703 |  |  | 210,355 |
Less allowance for loan losses | (96,020) |  |  | (88,610) |  |  | (96,454) |
Finance receivables, net | $ | 105,653 |  |  | $ | 102,093 |  |  | $ | 113,901 |
Schedule of Allowance for Credit Losses | The following table details the changes in the allowance for loan losses (in thousands):
| Three Months Ended |  |
| March 31, |  |
| 2024 |  | 2023 |  |  |  |
Balance at beginning of period | $ | 96,454 |  |  | $ | 84,833 |  |  |  |  |
Provision for loan losses | 30,418 |  |  | 29,285 |  |  |  |  |
Charge-offs | (33,279) |  |  | (27,117) |  |  |  |  |
Recoveries | 2,427 |  |  | 1,609 |  |  |  |  |
Balance at end of period | $ | 96,020 |  |  | $ | 88,610 |  |  |  |  |
Schedule of Finance Receivables Credit Quality Indicators | The following is an assessment of the credit quality indicators of the amortized cost of finance receivables as of March 31, 2024 and 2023, by origination year (in thousands):
| Origination Year |  |
| 2024 |  | 2023 |  | 2022 |  | Total
As of March 31, 2024 |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |
1 to 30 days past due | $ | 6,215 |  |  | $ | 12,594 |  |  | $ | 1,304 |  |  | $ | 20,113 |
31 to 60 days past due | 1,950 |  |  | 7,526 |  |  | 704 |  |  | 10,180 |
61 to 89 days past due (1) | 453 |  |  | 7,584 |  |  | 697 |  |  | 8,734 |
Total past due finance receivables | 8,618 |  |  | 27,704 |  |  | 2,705 |  |  | 39,027 |
Current finance receivables | 66,804 |  |  | 87,360 |  |  | 8,482 |  |  | 162,646 |
Finance receivables, amortized cost | $ | 75,422 |  |  | $ | 115,064 |  |  | $ | 11,187 |  |  | $ | 201,673 |
| Origination Year |  |
| 2023 |  | 2022 |  | 2021 |  | Total
As of March 31, 2023 |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |
1 to 30 days past due | $ | 5,509 |  |  | $ | 9,822 |  |  | $ | 1,408 |  |  | $ | 16,739 |
31 to 60 days past due | 1,632 |  |  | 6,163 |  |  | 870 |  |  | 8,665 |
61 to 89 days past due (1) | 419 |  |  | 6,507 |  |  | 858 |  |  | 7,784 |
Total past due finance receivables | 7,560 |  |  | 22,492 |  |  | 3,136 |  |  | 33,188 |
Current finance receivables | 68,791 |  |  | 78,123 |  |  | 10,601 |  |  | 157,515 |
Finance receivables, amortized cost | $ | 76,351 |  |  | $ | 100,615 |  |  | $ | 13,737 |  |  | $ | 190,703 |
(1)The Company charges off finance receivables when a receivable is 90 days or more contractually past due.
Finance Receivable, Charge-offs to allowance for credit losses | The following table details the gross charge-offs of finance receivables for the three months ended March 31, 2024 and 2023, by origination year (in thousands):
| Origination Year |  |
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | Total
Finance receivables gross charge-offs: |  |  |  |  |  |  |  |  |
Gross charge-offs during the three months ended March 31, 2024 | $ | 131 |  |  | $ | 29,270 |  |  | $ | 3,878 |  |  | $ | — |  |  | $ | 33,279 |
Gross charge-offs during the three months ended March 31, 2023 | — |  |  | 187 |  |  | 22,444 |  |  | 4,486 |  |  | 27,117 |

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B + Details
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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-29 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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