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

As of September 30,As of
December 31,
202420232023
Leased merchandise$348,675 $365,677 $384,129 
Processing fees(3,809)(4,155)(4,348)
Merchant partner discounts and premiums, net1,034 2,566 2,501 
Accumulated depreciation(114,762)(115,774)(115,964)
Leased merchandise, before allowance for lease losses231,138 248,314 266,318 
Less allowance for lease losses(93,369)(105,145)(95,127)
Leased merchandise, net$137,769 $143,169 $171,191 
Leased Merchandise, Allowance for Credit Loss
The following table details the changes in the allowance for lease losses (in thousands):

Three Months EndedNine Months Ended
September 30,September 30,
 2024202320242023
Balance at beginning of period$102,778 $110,972 $95,127 $79,189 
Provision for lease losses39,171 39,736 129,834 141,674 
Charge-offs(50,228)(47,225)(136,907)(120,726)
Recoveries1,648 1,662 5,315 5,008 
Balance at end of period$93,369 $105,145 $93,369 $105,145