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Finance Receivables (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Schedule of Installment Finance Receivables at Fair Value

The components of installment finance receivables at fair value as of March 31, 2022 and December 31, 2021 were as follows (in thousands):

			March 31, 2022						December 31, 2021
Unpaid principal balance of finance receivables - accrual			$	309,971					$	307,059
Unpaid principal balance of finance receivables - non-accrual			22,546						25,185
Unpaid principal balance of finance receivables			$	332,517					$	332,244
Finance receivables at fair value - accrual			$	367,724					$	369,576
Finance receivables at fair value - non-accrual			3,448						3,677
Finance receivables at fair value, excluding accrued interest and fees receivable			371,172						373,253
Accrued interest and fees receivable			10,673						10,637
Finance receivables at fair value			$	381,845					$	383,890
Difference between unpaid principal balance and fair value			$	38,655					$	41,009

Schedule of Changes in Fair Value of Installment Finance Receivables

Changes in the fair value of installment finance receivables at fair value for the three months ended March 31, 2022 and 2021 were as follows (in thousands):

			Three Months Ended March 31,
			2022						2021
Balance at the beginning of the period			$	383,890					$	289,166
Originations of principal			154,021						105,834
Repayments of principal and recoveries			(106,577)						(104,195)
Accrued interest and fees receivable			36						1,366
Charge-offs, net (1)			(47,171)						(19,833)
Net change in fair value (1)			(2,354)						(2,556)
Balance at the end of the period			$	381,845					$	269,782
(1) Included in "Change in fair value of finance receivables" in the consolidated statements of operations.

Schedule of Finance Receivables

The components of finance receivables carried at amortized cost as of March 31, 2022 and December 31, 2021 were as follows (in thousands):

			March 31, 2022						December 31, 2021
Finance receivables			$	5,942					$	5,285
Accrued interest and fees			32						24
Unearned annual fee income			(232)						(286)
Allowance for credit losses			(931)						(803)
Finance receivables at amortized cost, net			$	4,811					$	4,220

Summary of Changes in Allowance for Credit Losses on Finance Receivables

Changes in the allowance for credit losses on finance receivables for the three months ended March 31, 2022 and 2021 were as follows (in thousands):

			Three Months Ended March 31,
			2022						2021
Beginning balance			$	803					$	55,031
Effects of adopting fair value option			—						(55,031)
Provisions for credit losses on finance receivables			457						7
Finance receivables charged off			(329)						—
Ending balance			$	931					$	7

Summary of Credit Quality Finance Receivable Portfolio

The following is an assessment of the credit quality of finance receivables at amortized cost and presents the recency and contractual delinquency of the finance receivable portfolio as of March 31, 2022 and December 31, 2021 (in thousands):

						March 31, 2022												December 31, 2021
						Recency delinquency						Contractual delinquency						Recency delinquency						Contractual delinquency
Current						$	5,037					$	5,045					$	5,016					$	4,993
Delinquency
30-59 days						422						369						152						171
60-89 days						366						392						102						104
90+ days						117						136						15						17
Total delinquency						905						897						269						292
Finance receivables						$	5,942					$	5,942					$	5,285					$	5,285

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Tabular disclosure of allowance for credit loss on financing receivable.

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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