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Finance Receivables (Tables)

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

Schedule of Installment Finance Receivables at Fair Value

The components of installment finance receivables at fair value as of September 30, 2023 and December 31, 2022 were as follows (in thousands):

			September 30, 2023						December 31, 2022
Unpaid principal balance of finance receivables - accrual			$	385,893					$	369,643
Unpaid principal balance of finance receivables - non-accrual			30,040						32,537
Unpaid principal balance of finance receivables			$	415,933					$	402,180
Finance receivables at fair value - accrual			$	445,139					$	436,552
Finance receivables at fair value - non-accrual			4,920						4,944
Finance receivables at fair value, excluding accrued interest and fees receivable			450,059						441,496
Accrued interest and fees receivable			16,406						15,800
Finance receivables at fair value			$	466,465					$	457,296
Difference between unpaid principal balance and fair value			$	34,126					$	39,316

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 and nine months ended September 30, 2023 and 2022 were as follows (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Balance at the beginning of the period			$	446,956					$	450,703					$	457,296					$	383,890
Originations			192,906						185,092						539,152						550,483
Repayments			(118,411)						(109,519)						(366,126)						(318,677)
Accrued interest and fees receivable			2,316						2,390						606						4,649
Charge-offs, net (1)			(56,315)						(67,709)						(159,273)						(161,479)
Net change in fair value (1)			(987)						(2,892)						(5,190)						(801)
Balance at the end of the period			$	466,465					$	458,065					$	466,465					$	458,065
(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 at amortized cost as of September 30, 2023 and December 31, 2022 were as follows (in thousands):

			September 30, 2023						December 31, 2022
Finance receivables			$	2,355					$	730
Accrued interest and fees			3						9
Unearned annual fee income			(66)						—
Allowance for credit losses			(2,083)						(96)
Finance receivables at amortized cost, net			$	209					$	643

Schedule of Changes in Allowance for Credit Losses on Finance Receivables at Amortized Cost

Changes in the allowance for credit losses on finance receivables at amortized cost for the three and nine months ended September 30, 2023 and 2022 were as follows (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Beginning balance			$	2,411					$	1,045					$	96					$	803
Provisions for credit losses on finance receivables			195						1,017						4,131						2,043
Finance receivables charged off			(535)						(831)						(2,159)						(1,615)
Recoveries of charge offs			12						1						15						1
Ending balance			$	2,083					$	1,232					$	2,083					$	1,232

Schedule 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 September 30, 2023 and December 31, 2022 (in thousands):

						September 30, 2023												December 31, 2022
						Recency delinquency						Contractual delinquency						Recency delinquency						Contractual delinquency
Current						$	1,697					$	1,659					$	638					$	585
Delinquency
30-59 days						130						132						45						44
60-89 days						97						104						47						59
90+ days						431						460						—						42
Total delinquency						658						696						92						145
Finance receivables						$	2,355					$	2,355					$	730					$	730

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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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