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Business and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2021
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)202120202019
Beginning Balance$45,992 $47,362 $35,784 
Net Book Value of Merchandise Written off(128,031)(142,830)(156,889)
Recoveries9,422 10,128 14,951 
Provision for Write-offs126,984 131,332 153,516 
Ending Balance$54,367 $45,992 $47,362 
Calculation of Dilutive Stock Awards The following table shows the calculation of dilutive share-based awards:
Year Ended December 31,
(Shares In Thousands)202120202019
Weighted Average Shares Outstanding66,026 67,261 67,322 
Dilutive Effect of Share-Based Awards390 761 — 
Weighted Average Shares Outstanding Assuming Dilution66,416 68,022 67,322 
Allowance for Doubtful Accounts
The following table shows the components of the accounts receivable allowance:
Year Ended December 31,
(In Thousands)202120202019
Beginning Balance$56,364 $65,573 $53,159 
Net Book Value of Accounts Written Off(247,789)(278,576)(290,562)
Recoveries37,914 46,010 26,734 
Accounts Receivable Provision224,744 223,357 276,242 
Ending Balance$71,233 $56,364 $65,573 
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)202120202019
Bad Debt Expense1
$2 $86 $1,337 
Provision for Uncollected Renewal Payments2
224,742 223,271 274,905 
Accounts Receivable Provision$224,744 $223,357 $276,242 
1 Bad debt expense is recorded within operating expenses in the consolidated statements of earnings.
2 Provision for uncollected renewal payments is recorded as a reduction to lease revenues and fees in the consolidated statements of earnings.
Loan Portfolio Credit Quality Indicators Below is a summary of the credit quality of the Company’s loan portfolio as of December 31, 2021 and 2020 by FICO score as determined at the time of loan origination:
December 31,
FICO Score Category20212020
600 or Less7.7 %7.5 %
Between 600 and 70078.0 %79.3 %
700 or Greater12.7 %13.2 %
No Score Identified1.6 %— %
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, 202120212020201920182017PriorTotal
FICO Score Category:
600 or Less$9,353 $2,459 $700 $209 $35 $29 $12,785 
Between 600 and 70086,487 25,350 7,506 2,409 1,667 1,524 124,943 
700 or Greater14,886 3,146 737 432 248 388 19,837 
No Score Identified2,539 — — — — — 2,539 
Total Amortized Cost$113,265 $30,955 $8,943 $3,050 $1,950 $1,941 $160,104 
Schedule of Prepaid Expenses and Other Assets
Prepaid expenses and other assets consist of the following:
December 31,
(In Thousands)20212020
Prepaid Expenses$28,283 $19,590 
Prepaid Software Expenses7,102 3,440 
Unamortized Initial Direct Costs on Lease Agreement Originations5,326 4,986 
Prepaid Insurance40 3,639 
Other Assets7,446 7,899 
Prepaid Expenses and Other Assets$48,197 $39,554 
Schedule of Accounts Payable and Accrued Expenses
Accounts payable and accrued expenses consist of the following:
December 31,
(In Thousands)20212020
Accounts Payable$13,741 $8,630 
Accrued Salaries and Benefits25,861 18,120 
Accrued Sales and Personal Property Taxes14,851 12,933 
Income Taxes Payable2,782 18,183 
Uncertain Tax Position1
48,451 2,748 
Other Accrued Expenses and Liabilities30,268 17,635 
Accounts Payable and Accrued Expenses$135,954 $78,249 
1 The uncertain tax position at December 31, 2021 is primarily related to the Company’s tax treatment of the $175.0 million settlement payment made in 2020 to the FTC as discussed in Note 10 and Note 11.