XML 19 R8.htm IDEA: XBRL DOCUMENT v3.26.1
DISCONTINUED OPERATIONS
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS DISCONTINUED OPERATIONS
Separation and Wind-Down of Vive
On October 20, 2025, PROG Holdings completed the sale of substantially all of Vive's loans receivable portfolio to Fortiva Funding LLC ("Fortiva"). The results of Vive are reported as discontinued operations for all periods presented. See Note 2 to the consolidated financial statements in the Company's Form 10-K for the year ended December 31, 2025 for additional information.
Following the completion of the sale, the Company's remaining activities related to Vive are limited to transition services and temporary arrangements intended to facilitate the orderly transfer of the business to Fortiva and do not represent ongoing operations of the Company.
Continuing Involvement
Following the cut-off date of the sale, Vive continued to originate new credit card receivables for a short period of time under existing merchant agreements, until origination services could be transferred to Fortiva. These receivables are owned by Vive and are expected to be resolved over time through a sale or other disposition. Because these activities are directly related to the disposed credit card business and occurred only to facilitate the transition of merchant relationships, the related revenues and expenses are included in discontinued operations.
Summarized Financial Information of Discontinued Operations
The following table summarizes the major classes of line items constituting the operations of Vive, which are included within the (loss) earnings from discontinued operations, net of income tax, in the condensed consolidated statements of earnings and the operating and investing cash flows of the discontinued operations.
Three months ended
June 30,		Six months ended
June 30,
(in thousands)
2026202520262025
Revenues$934 $16,160 $2,004 $31,820 
Operating (loss) profit(511)1,413 (614)1,392 
(Loss) earnings from discontinued operations before income tax(536)1,413 (700)1,392 
Income tax (benefit) expense from discontinued operations(187)511 (187)362 
(Loss) earnings from discontinued operations, net of tax
$(349)$902 $(513)$1,030 
Cash flows1:
Cash (used in) provided by operating activities - discontinued operations
$(5,335)$16,339 
Cash provided by (used in) investing activities - discontinued operations
$3,530 $(19,321)
1 Vive did not generate cash flows from financing activities for the periods presented.
The following table summarizes the major classes of assets and liabilities of discontinued operations as of June 30, 2026 and December 31, 2025:
(in thousands)
June 30, 2026December 31, 2025
Assets
Accounts receivable, net
$— $17 
Loans receivable, net
7,269 9,570 
Deferred tax assets
2,671 2,671 
Prepaid expenses and other assets
743 1,292 
Total assets of discontinued operations
$10,683 $13,550 
Liabilities
Accounts payable and accrued expenses
$2,735 $6,831 
Income tax payable
70 — 
Total liabilities of discontinued operations
$2,805 $6,831