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Leased Merchandise, Net
 6 Months Ended
Jun. 30, 2024
Receivables [Abstract]  
Leased Merchandise, Net Leased Merchandise, Net
Leased merchandise, net consists of the following (in thousands):

As of June 30,As of
December 31,
202420232023
Leased merchandise$364,831 $369,547 $384,129 
Processing fees(3,824)(4,313)(4,348)
Merchant partner discounts and premiums, net1,851 2,735 2,501 
Accumulated depreciation(117,145)(113,852)(115,964)
Leased merchandise, before allowance for lease losses245,713 254,117 266,318 
Less allowance for lease losses(102,778)(110,972)(95,127)
Leased merchandise, net$142,935 $143,145 $171,191 

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

Three Months EndedSix Months Ended
June 30,June 30,
 2024202320242023
Balance at beginning of period$95,127 $93,149 $95,127 $79,189 
Provision for lease losses47,653 52,873 90,663 101,938 
Charge-offs(41,666)(36,723)(86,679)(73,501)
Recoveries1,664 1,673 3,667 3,346 
Balance at end of period$102,778 $110,972 $102,778 $110,972