XML 24 R12.htm IDEA: XBRL DOCUMENT v3.25.1
Finance Receivables, Net
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Finance Receivables, Net 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,
202520242024
Finance receivables, gross$296,999 $222,087 $294,166 
Merchant partner discounts and premiums, net(27,355)(15,221)(22,833)
Unearned origination fees(6,223)(5,193)(6,827)
Finance receivables, amortized cost263,421 201,673 264,506 
Less allowance for loan losses(118,342)(96,020)(117,005)
Finance receivables, net$145,079 $105,653 $147,501 

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

Three Months Ended
March 31,
20252024
Balance at beginning of period$117,005 $96,454 
Provision for loan losses36,360 30,418 
Charge-offs(38,419)(33,279)
Recoveries3,396 2,427 
Balance at end of period$118,342 $96,020 
The following is an assessment of the credit quality indicators of the amortized cost of finance receivables as of March 31, 2025 and 2024, by origination year (in thousands):
Origination Year
202520242023Total
As of March 31, 2025
Delinquency:
1 to 30 days past due$8,682 $14,504 $1,271 $24,457 
31 to 60 days past due3,350 11,189 845 15,384 
61 to 89 days past due (1)
735 10,288 742 11,765 
Total past due finance receivables12,767 35,981 2,858 51,606 
Current finance receivables88,669 114,138 9,008 211,815 
Finance receivables, amortized cost$101,436 $150,119 $11,866 $263,421 
Origination Year
202420232022Total
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 due1,950 7,526 704 10,180 
61 to 89 days past due (1)
453 7,584 697 8,734 
Total past due finance receivables8,618 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 

(1)The Company charges off finance receivables when a receivable is 90 days or more contractually past due.

The following table details the gross charge-offs of finance receivables for the three months ended March 31, 2025 and 2024, by origination year (in thousands):

Origination Year
2025202420232022Total
Finance receivables gross charge-offs:
Gross charge-offs during the three months ended March 31, 2025
$123 $34,410 $3,886 $— $38,419 
Gross charge-offs during the three months ended March 31, 2024
— 131 29,270 3,878 33,279