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Leased Merchandise, Net
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Leased Merchandise, Net Leased Merchandise, Net
Leased merchandise, net consists of the following (in thousands):

As of September 30,As of
December 31,
202520242024
Leased merchandise$242,961 $348,675 $319,444 
Processing fees(2,040)(3,809)(2,960)
Merchant partner (discounts) and premiums, net302 1,034 493 
Accumulated depreciation(77,457)(114,762)(108,283)
Leased merchandise, before allowance for lease losses163,766 231,138 208,694 
Less allowance for lease losses(64,041)(93,369)(80,257)
Leased merchandise, net$99,725 $137,769 $128,437 
The following table details the changes in the allowance for lease losses (in thousands):

Three Months EndedNine Months Ended
September 30,September 30,
 2025202420252024
Balance at beginning of period$69,667 $102,778 $80,257 $95,127 
Provision for lease losses27,920 39,171 88,025 129,834 
Charge-offs(35,189)(50,228)(110,196)(136,907)
Recoveries1,643 1,648 5,955 5,315 
Balance at end of period$64,041 $93,369 $64,041 $93,369