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Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

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 Expense1			$	86					$	1,337					$	227,960
Provision for Returns and Uncollected Renewal Payments2			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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