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v3.25.1

Allowance for Doubtful Accounts (Tables) | 3 Months Ended
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Mar. 31, 2025
Receivables [Abstract] |
Schedule of Notes Receivable Disaggregated by Vintage Year | The following table presents the Company’s three tiers of notes receivable as of and for the three months ended March 31, 2025 further disaggregated by year of origination, as well as write-off activity:
|  | Notes receivable
|  | Amortized cost basis by origination year
|  | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Total
|  | (in thousands)
Notes receivable |  |  |  |  |  |  |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 30,696 |  |  | $ | 20,727 |  |  | $ | 3,566 |  |  | $ | 13,869 |  |  | $ | — |  |  | $ | — |  |  | $ | 68,858 |
Delinquent notes receivable |  | $ | — |  |  | $ | 173 |  |  | $ | 1,641 |  |  | $ | 1,810 |  |  | $ | 671 |  |  | $ | 21,876 |  |  | $ | 26,171 |
Elevated risk notes receivable |  | $ | — |  |  | $ | — |  |  | $ | 1,538 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,491 |  |  | $ | 3,029 |
Current-period gross write-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Current-period recoveries |  | — |  |  | (295) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (295) |
Current-period net write-offs |  | $ | — |  |  | $ | (295) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (295) |
Schedule of Age Analysis of Past-Due Note Receivable | The following table provides information as to the status of payment on the Company’s notes receivable which were past due as of March 31, 2025:
|  | Age analysis of past-due notes receivable as of March 31, 2025
|  | 0 - 90 Days |  | 91 - 180 Days |  | Greater than 181 Days |  | Total
|  | (in thousands)
Notes receivable |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 349 |  |  | $ | — |  |  | $ | — |  |  | $ | 349 |
Delinquent notes receivable 1 |  | 608 |  |  | 382 |  |  | 23,791 |  |  | 24,781 |
Elevated risk notes receivable |  | 150 |  |  | 225 |  |  | 2,654 |  |  | 3,029 |
|  | $ | 1,107 |  |  | $ | 607 |  |  | $ | 26,445 |  |  | $ | 28,159 |
1. Included within the Delinquent notes receivable past-due balance is the entire balance of notes receivable due from Genesis.
Schedule of Changes in Allowance for Doubtful Accounts | The following tables provide a summary of the changes in the Company’s allowance for doubtful accounts on a portfolio segment basis for the three months ended March 31, 2025 and 2024, respectively:
|  | Allowance for doubtful accounts
Portfolio Segment: |  | December 31, 2024 |  | Write-Offs 1 |  | Bad Debt Expense |  | March 31, 2025
|  | (in thousands)
Accounts receivable |  | $ | 87,520 |  |  | $ | (2,328) |  |  | $ | 1,906 |  |  | $ | 87,098 |
Notes receivable |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 5,096 |  |  | $ | 295 |  |  | $ | (805) |  |  | $ | 4,586 |
Delinquent notes receivable |  | 6,026 |  |  | — |  |  | (13) |  |  | 6,013 |
Elevated risk notes receivable |  | 2,140 |  |  | — |  |  | — |  |  | 2,140 |
Total notes receivable |  | $ | 13,262 |  |  | $ | 295 |  |  | $ | (818) |  |  | $ | 12,739 |
Total accounts and notes receivable |  | $ | 100,782 |  |  | $ | (2,033) |  |  | $ | 1,088 |  |  | $ | 99,837 |
1. Write-offs are shown net of recoveries. During the three months ended March 31, 2025, the Company collected $0.3 million of accounts and notes receivable which had previously been written-off as uncollectible.
|  | Allowance for doubtful accounts
Portfolio segment: |  | December 31, 2023 |  | Reclassifications 1 |  | Write-Offs 2 |  | Bad Debt Expense |  | March 31, 2024
|  | (in thousands)
Accounts receivable |  | $ | 80,819 |  |  | $ | — |  |  | $ | (1,033) |  |  | $ | 4,301 |  |  | $ | 84,087 |
Notes receivable |  |  |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 6,125 |  |  | $ | (2,615) |  |  | $ | — |  |  | $ | (463) |  |  | $ | 3,047 |
Delinquent notes receivable |  | — |  |  | 2,615 |  |  | — |  |  | 1,083 |  |  | 3,698 |
Elevated risk notes receivable |  | 4,755 |  |  | — |  |  | — |  |  | — |  |  | 4,755 |
Total notes receivable |  | $ | 10,880 |  |  | $ | — |  |  | $ | — |  |  | $ | 620 |  |  | $ | 11,500 |
Total accounts and notes receivable |  | $ | 91,699 |  |  | $ | — |  |  | $ | (1,033) |  |  | $ | 4,921 |  |  | $ | 95,587 |
1. Delinquent notes receivable were identified as a new loss pool during the year ended December 31, 2024. 2. Write-offs are shown net of recoveries. During the three months ended March 31, 2024, the Company collected less than $0.1 million of accounts and notes receivable which had previously been written-off as uncollectible.
Schedule of Changes in Allowance for Notes Receivable | The following tables provide a summary of the changes in the Company’s allowance for doubtful accounts on a portfolio segment basis for the three months ended March 31, 2025 and 2024, respectively:
|  | Allowance for doubtful accounts
Portfolio Segment: |  | December 31, 2024 |  | Write-Offs 1 |  | Bad Debt Expense |  | March 31, 2025
|  | (in thousands)
Accounts receivable |  | $ | 87,520 |  |  | $ | (2,328) |  |  | $ | 1,906 |  |  | $ | 87,098 |
Notes receivable |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 5,096 |  |  | $ | 295 |  |  | $ | (805) |  |  | $ | 4,586 |
Delinquent notes receivable |  | 6,026 |  |  | — |  |  | (13) |  |  | 6,013 |
Elevated risk notes receivable |  | 2,140 |  |  | — |  |  | — |  |  | 2,140 |
Total notes receivable |  | $ | 13,262 |  |  | $ | 295 |  |  | $ | (818) |  |  | $ | 12,739 |
Total accounts and notes receivable |  | $ | 100,782 |  |  | $ | (2,033) |  |  | $ | 1,088 |  |  | $ | 99,837 |
1. Write-offs are shown net of recoveries. During the three months ended March 31, 2025, the Company collected $0.3 million of accounts and notes receivable which had previously been written-off as uncollectible.
|  | Allowance for doubtful accounts
Portfolio segment: |  | December 31, 2023 |  | Reclassifications 1 |  | Write-Offs 2 |  | Bad Debt Expense |  | March 31, 2024
|  | (in thousands)
Accounts receivable |  | $ | 80,819 |  |  | $ | — |  |  | $ | (1,033) |  |  | $ | 4,301 |  |  | $ | 84,087 |
Notes receivable |  |  |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 6,125 |  |  | $ | (2,615) |  |  | $ | — |  |  | $ | (463) |  |  | $ | 3,047 |
Delinquent notes receivable |  | — |  |  | 2,615 |  |  | — |  |  | 1,083 |  |  | 3,698 |
Elevated risk notes receivable |  | 4,755 |  |  | — |  |  | — |  |  | — |  |  | 4,755 |
Total notes receivable |  | $ | 10,880 |  |  | $ | — |  |  | $ | — |  |  | $ | 620 |  |  | $ | 11,500 |
Total accounts and notes receivable |  | $ | 91,699 |  |  | $ | — |  |  | $ | (1,033) |  |  | $ | 4,921 |  |  | $ | 95,587 |
1. Delinquent notes receivable were identified as a new loss pool during the year ended December 31, 2024. 2. Write-offs are shown net of recoveries. During the three months ended March 31, 2024, the Company collected less than $0.1 million of accounts and notes receivable which had previously been written-off as uncollectible.

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-29 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5 + Details
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