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Leased Merchandise, Net
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
Leased Merchandise, Net Leased Merchandise, Net
Leased merchandise, net consists of the following (in thousands):

As of March 31,As of
December 31,
202420232023
Leased merchandise$369,298 $349,648 $384,129 
Processing fees(4,022)(4,341)(4,348)
Merchant partner discounts and premiums, net2,203 2,693 2,501 
Accumulated depreciation(114,431)(105,997)(115,964)
Leased merchandise, before allowance for lease losses253,048 242,003 266,318 
Less allowance for lease losses(95,263)(93,149)(95,127)
Leased merchandise, net$157,785 $148,854 $171,191 

The following table details the changes in the allowance for lease losses (in thousands):

Three Months Ended
March 31,
 20242023
Balance at beginning of period$95,127 $79,189 
Provision for lease losses43,010 49,065 
Charge-offs(44,877)(36,778)
Recoveries2,003 1,673 
Balance at end of period$95,263 $93,149