XML 22 R10.htm IDEA: XBRL DOCUMENT
v3.26.1

Finance Receivables at Fair Value | 6 Months Ended
--- | ---
Jun. 30, 2026
Receivables [Abstract] |
Finance Receivables at Fair Value | Finance Receivables at Fair Value The components of installment finance receivables at fair value as of June 30, 2026 and December 31, 2025 were as follows (in thousands):
| 2026 |  | 2025
Unpaid principal balance of finance receivables - accrual | $ | 405,076 |  |  | $ | 454,542 |
Unpaid principal balance of finance receivables - non-accrual | 34,989 |  |  | 38,576 |
Unpaid principal balance of finance receivables | $ | 440,065 |  |  | $ | 493,118 |
Finance receivables at fair value - accrual | $ | 470,049 |  |  | $ | 524,577 |
Finance receivables at fair value - non-accrual | 3,244 |  |  | 3,590 |
Finance receivables at fair value, excluding accrued interest receivable | 473,293 |  |  | 528,167 |
Accrued interest receivable | 23,013 |  |  | 18,069 |
Finance receivables at fair value | $ | 496,306 |  |  | $ | 546,236 |
Difference between unpaid principal balance and fair value | $ | 33,228 |  |  | $ | 35,049 |
The Company’s policy is to discontinue and reverse the accrual of interest income on installment finance receivables at the earlier of 60 days past due on a recency basis or 90 days past due on a contractual basis. As of June 30, 2026 and December 31, 2025, the aggregate unpaid principal balance of installment finance receivables 90 days or more past due on a contractual basis was $17.3 million and $16.4 million, respectively. As of June 30, 2026 and December 31, 2025, the fair value of installment finance receivables 90 days or more past due on a contractual basis was $1.6 million and $1.5 million, respectively. Changes in the fair value of installment finance receivables at fair value for the three and six months ended June 30, 2026 and 2025 were as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Balance at the beginning of the period | $ | 502,558 |  |  | $ | 454,683 |  |  | $ | 546,236 |  |  | $ | 473,696 |
Acquired | 329,367 |  |  | 326,992 |  |  | 555,455 |  |  | 599,173 |
Repayments | (276,948) |  |  | (250,312) |  |  | (486,747) |  |  | (492,642) |
Accrued interest receivable | 328 |  |  | 2,322 |  |  | 4,944 |  |  | 2,916 |
Charge-offs, net(1) | (57,276) |  |  | (45,509) |  |  | (121,761) |  |  | (94,021) |
Net change in fair value(1) | (1,723) |  |  | 3,312 |  |  | (1,821) |  |  | 2,366 |
Balance at the end of the period | $ | 496,306 |  |  | $ | 491,488 |  |  | $ | 496,306 |  |  | $ | 491,488 |
(1) Included in change in fair value of finance receivables in the consolidated statements of operations. |  |
The estimated amount of earnings included in losses attributable to changes in instrument-specific credit risk was $12.9 million and $4.8 million for the three and six months ended June 30, 2026, respectively. The estimated amount of losses included in losses attributable to changes in instrument-specific credit risk was $12.1 million and $5.7 million for the three and six months ended June 30, 2025, respectively. The credit risk component was driven by the expected default rate assumption applied in the discounted cash flow model. The expected default rate assumption was developed based on historical data of the installment loan portfolio and also included adjustments to reflect management’s judgment of current economic trends and future credit performance.

X
- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481933/310-10-55-12A Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-42 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 44 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-44 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-20/tableOfContent + Details
Name: | us-gaap_FinancingReceivablesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration