XML 33 R22.htm IDEA: XBRL DOCUMENT v3.26.1
ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES (Tables)
 6 Months Ended
Jun. 30, 2026
Credit Loss [Abstract]  
Schedule of Accounts Receivable and Other Receivables
Accounts receivable and other receivables consist of the following:
(in thousands)
June 30, 2026December 31, 2025
Accounts receivable
Progressive Leasing accounts receivable:
Progressive Leasing accounts receivable
$130,748 $136,234 
Less: accounts receivable allowance
(69,436)(68,806)
Progressive Leasing accounts receivable, net
61,312 67,428 
Four affiliate and interchange fees receivable
5,899 6,800 
Purchasing Power accounts receivable
Accounts receivable - acquired portfolio (at fair value)
106,069 — 
Accounts receivable - post-acquisition portfolio
199,396 — 
Less: allowance for credit losses - post-acquisition portfolio
(23,478)— 
Less: unearned interest income - post-acquisition portfolio
(1,487)— 
Client and miscellaneous receivables
26,811 — 
Purchasing Power accounts receivable, net
307,311 — 
Total accounts receivable, net
$374,522 $74,228 
Other receivables - Purchasing Power
Other receivables - acquired portfolio (at fair value)
10,063 — 
Other receivables - post-acquisition portfolio
36,851 — 
Less: allowance for credit losses - post-acquisition portfolio
(4,469)— 
Less: unearned interest income - post-acquisition portfolio
(2,668)— 
Total other receivables, net
$39,777 $— 
The following is a summary of the Company's loans receivable, net:
(in thousands)
June 30, 2026December 31, 2025
Loans receivable, gross
$94,120 $108,894 
  Unamortized fees
(1,159)(928)
Loans receivable, amortized cost
92,961 107,966 
   Allowance for loan losses
(18,649)(17,318)
Loans receivable, net of allowances and unamortized fees1
$74,312 $90,648 
1 Loans receivable, net of allowances and unamortized fees attributable to Four was $67.8 million and $84.4 million as of June 30, 2026 and December 31, 2025, respectively.
Schedule of Lease Receivable, Allowance for Credit Loss
The following table summarizes activity in the lease receivable allowance related to Progressive Leasing:
Three months ended June 30,Six months ended June 30,
(in thousands)
2026202520262025
Beginning balance
$68,270 $73,868 $68,806 $71,607 
Net book value of accounts receivable written off
(91,513)(98,028)(179,891)(192,238)
Recoveries10,233 10,671 22,160 22,546 
Accounts receivable provision
82,446 82,277 158,361 166,873 
Ending balance
$69,436 $68,788 $69,436 $68,788 
The following table summarizes activity in the allowance for credit losses related to Purchasing Power post-acquisition receivables:
Three months ended June 30, 2026Six months ended June 30, 2026
(in thousands)
Accounts receivable
Other receivables
Accounts receivableOther receivables
Beginning balance$11,030 $1,931 $— $— 
Net book value of accounts written off(43)(4)(43)(4)
Recoveries80 4 80 4 
Provision for credit losses
12,411 2,538 23,441 4,469 
Ending balance$23,478 $4,469 $23,478 $4,469 
The table below presents the components of the allowance for loan losses:
Three months ended June 30,Six months ended June 30,
(in thousands)
2026202520262025
Beginning balance
$17,594 $9,429 $17,318 $9,228 
Provision for credit losses
15,719 8,043 26,925 13,544 
Charge-offs(17,521)(8,726)(31,186)(14,773)
Recoveries2,857 1,103 5,592 1,850 
Ending balance
$18,649 $9,849 $18,649 $9,849 
Schedule of Aging of the Loans Receivable Gross Balance
The following table presents the amortized cost basis of Purchasing Power receivables originated post-acquisition, disaggregated by credit quality indicator, as of June 30, 2026:
(in thousands)
Originated post-acquisition accounts receivables
Originated post-acquisition other receivables
Aging category
Federal
Non-Federal
June 30, 2026
Federal
Non-Federal
June 30, 2026
1-30 days past due
$1,521 $13,702 $15,223 $440 $1,676 $2,116 
31-59 days past due
677 3,445 4,122 159 464 623 
60 or more days past due
679 3,637 4,316 140 407 547 
Past due receivables
$2,877 $20,784 $23,661 $739 $2,547 $3,286 
Current receivables
$17,317 $158,418 $175,735 $5,360 $28,205 $33,565 
Included in the table below is an aging of the loans receivable, gross balance:
(dollar amounts in thousands)
Aging category
June 30, 2026December 31, 2025
1-30 days past due
12.7 %12.5 %
31-59 days past due
8.2 %3.9 %
60 or more days past due
6.3 %2.9 %
Past due loans receivable
27.2 %19.3 %
Current loans receivable
72.8 %80.7 %
Balance of loans receivable 90 or more days past due and still accruing interest and fees
$— $—