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Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2020
Accounting Policies [Abstract] |
Allowance for Lease Merchandise | The following table shows the components of the allowance for lease merchandise write-offs, which is included within lease merchandise, net in the consolidated balance sheets:
| Year Ended December 31,
(In Thousands) | 2020 |  | 2019 |  | 2018
Beginning Balance | $ | 47,362 |  |  | $ | 35,784 |  |  | $ | 26,642 |
Merchandise Written off, net of Recoveries | (132,702) |  |  | (141,938) |  |  | (114,205) |
Provision for Write-offs | 131,332 |  |  | 153,516 |  |  | 123,347 |
Ending Balance | $ | 45,992 |  |  | $ | 47,362 |  |  | $ | 35,784 |
Calculation of Dilutive Stock Awards | The following table shows the calculation of dilutive share-based awards:
| Year Ended December 31,
(Shares In Thousands) | 2020 |  | 2019 |  | 2018
Weighted Average Shares Outstanding | 67,261 |  |  | 67,322 |  |  | 69,128 |
Dilutive Effect of Share-Based Awards | 761 |  |  | — |  |  | 1,469 |
Weighted Average Shares Outstanding Assuming Dilution | 68,022 |  |  | 67,322 |  |  | 70,597 |
Allowance for Doubtful Accounts | The following table shows the components of the accounts receivable allowance:
| Year Ended December 31,
(In Thousands) | 2020 |  | 2019 |  | 2018
Beginning Balance | $ | 65,573 |  |  | $ | 53,159 |  |  | $ | 39,954 |
Accounts Written Off, net of Recoveries | (232,566) |  |  | (263,828) |  |  | (214,755) |
Accounts Receivable Provision | 223,357 |  |  | 276,242 |  |  | 227,960 |
Ending Balance | $ | 56,364 |  |  | $ | 65,573 |  |  | $ | 53,159 |
The following table shows the amounts recognized for bad debt expense and provision for returns and uncollected payments for the fiscal years presented:
| Year Ended December 31,
(In Thousands) | 2020 |  | 2019 |  | 2018
Bad Debt Expense 1 | $ | 86 |  |  | $ | 1,337 |  |  | $ | 227,960 |
Provision for Returns and Uncollected Renewal Payments 2 | 223,271 |  |  | 274,905 |  |  | — |
Accounts Receivable Provision | $ | 223,357 |  |  | $ | 276,242 |  |  | $ | 227,960 |
1 Bad debt expense is recorded within operating expenses in the consolidated financial statements. 2 In accordance with the adoption of ASC 842, Progressive Leasing provision for returns and uncollectible renewal payments are recorded as a reduction to lease revenues and fees within the consolidated financial statements beginning January 1, 2019. Prior to January 1, 2019, Progressive Leasing provision for returns and uncollectible renewal payments were recorded as bad debt expense within operating expenses in the consolidated financial statements.
Loan Portfolio Credit Quality Indicators | Below is a summary of the credit quality of the Company’s loan portfolio as of December 31, 2020 and 2019 by FICO score as determined at the time of loan origination:
| December 31,
FICO Score Category | 2020 |  | 2019
600 or Less | 7.5 | % |  | 6.7 | %
Between 600 and 700 | 79.3 | % |  | 80.1 | %
700 or Greater | 13.2 | % |  | 13.2 | %
The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year:
(In Thousands) |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2020 | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Total
FICO Score Category: |  |  |  |  |  |  |  |  |  |  |  |  |
600 or Less | $ | 7,125 |  |  | $ | 1,792 |  |  | $ | 535 |  |  | $ | 80 |  |  | $ | 54 |  |  | $ | 6 |  |  | $ | 9,592 |
Between 600 and 700 | 64,809 |  |  | 17,529 |  |  | 6,818 |  |  | 4,005 |  |  | 2,417 |  |  | 363 |  |  | 95,941 |
700 or Greater | 11,478 |  |  | 1,795 |  |  | 1,053 |  |  | 695 |  |  | 638 |  |  | 83 |  |  | 15,742 |
Total Amortized Cost | $ | 83,412 |  |  | $ | 21,116 |  |  | $ | 8,406 |  |  | $ | 4,780 |  |  | $ | 3,109 |  |  | $ | 452 |  |  | $ | 121,275 |
Schedule of Prepaid Expenses and Other Assets | Prepaid expenses and other assets consist of the following:
| December 31,
(In Thousands) | 2020 |  | 2019
Prepaid Expenses | $ | 23,030 |  |  | $ | 17,545 |
Unamortized Initial Direct Costs on Lease Agreement Originations | 4,986 |  |  | 5,623 |
Prepaid Insurance | 3,639 |  |  | — |
Other Assets | 7,899 |  |  | 4,288 |
| $ | 39,554 |  |  | $ | 27,456 |
Schedule of Accounts Payable and Accrued Expenses | Accounts payable and accrued expenses consist of the following:
| December 31,
(In Thousands) | 2020 |  | 2019
Accounts Payable | $ | 8,630 |  |  | $ | 12,497 |
Accrued Salaries and Benefits | 18,120 |  |  | 12,598 |
Accrued Sales and Personal Property Taxes | 12,933 |  |  | 11,633 |
Income Taxes Payable | 18,183 |  |  | — |
Other Accrued Expenses and Liabilities | 20,383 |  |  | 21,894 |
| $ | 78,249 |  |  | $ | 58,622 |

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