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Note 3 - Segment Reporting | 3 Months Ended
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Mar. 31, 2022
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
3. | Segment Reporting
We operate primarily within one industry consisting of two reportable segments by which we manage our business. Our two reportable segments are: CaaS and Auto Finance. As of both March 31, 2022 and December 31, 2021, we did not have a material amount of long-lived assets located outside of the U.S. We measure the profitability of our reportable segments based on their income after allocation of specific costs and corporate overhead; however, our segment results do not reflect any charges for internal capital allocations among our segments. Overhead costs are allocated based on headcounts and other applicable measures to better align costs with the associated revenues. Summary operating segment information (in thousands) is as follows:
Three Months Ended March 31, 2022 |  | CaaS |  |  | Auto Finance |  |  | Total |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Consumer loans, including past due fees |  | $ | 156,465 |  |  | $ | 8,341 |  |  | $ | 164,806 |
Fees and related income on earning assets |  |  | 54,680 |  |  |  | 18 |  |  |  | 54,698 |
Other revenue |  |  | 9,998 |  |  |  | 268 |  |  |  | 10,266 |
Other non-operating revenue |  |  | 35 |  |  |  | 26 |  |  |  | 61 |
Total revenue |  |  | 221,178 |  |  |  | 8,653 |  |  |  | 229,831 |
Interest expense |  |  | (17,163 | ) |  |  | (247 | ) |  |  | (17,410 | )
Provision for losses on loans, interest and fees receivable recorded at net realizable value |  |  | — |  |  |  | (147 | ) |  |  | (147 | )
Changes in fair value of loans, interest and fees receivable and notes payable associated with structured financings recorded at fair value |  |  | (104,680 | ) |  |  | — |  |  |  | (104,680 | )
Net margin |  | $ | 99,335 |  |  | $ | 8,259 |  |  | $ | 107,594 |
Income (loss) before income taxes |  | $ | 43,598 |  |  | $ | (5,964 | ) |  | $ | 37,634 |
Income tax benefit |  | $ | 5,518 |  |  | $ | 1,603 |  |  | $ | 7,121 |
Total assets |  | $ | 1,835,155 |  |  | $ | 86,482 |  |  | $ | 1,921,637 |
Three Months Ended March 31, 2021 |  | CaaS |  |  | Auto Finance |  |  | Total |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Consumer loans, including past due fees |  | $ | 94,110 |  |  | $ | 8,186 |  |  | $ | 102,296 |
Fees and related income on earning assets |  |  | 37,003 |  |  |  | 17 |  |  |  | 37,020 |
Other revenue |  |  | 4,238 |  |  |  | 341 |  |  |  | 4,579 |
Other non-operating revenue |  |  | 835 |  |  |  | 5 |  |  |  | 840 |
Total revenue |  |  | 136,186 |  |  |  | 8,549 |  |  |  | 144,735 |
Interest expense |  |  | (12,044 | ) |  |  | (254 | ) |  |  | (12,298 | )
Provision for losses on loans, interest and fees receivable recorded at net realizable value |  |  | (4,007 | ) |  |  | (128 | ) |  |  | (4,135 | )
Changes in fair value of loans, interest and fees receivable and notes payable associated with structured financings recorded at fair value |  |  | (27,491 | ) |  |  | — |  |  |  | (27,491 | )
Net margin |  | $ | 92,644 |  |  | $ | 8,167 |  |  | $ | 100,811 |
Income before income taxes |  | $ | 49,304 |  |  | $ | 2,493 |  |  | $ | 51,797 |
Income tax expense |  | $ | (7,163 | ) |  | $ | (607 | ) |  | $ | (7,770 | )
Total assets |  | $ | 1,117,215 |  |  | $ | 82,280 |  |  | $ | 1,199,495 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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