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Debt (Tables)

6 Months Ended

Jun. 30, 2021

Summary of the Company's Debt

The following is a summary of the Company’s debt as of the periods indicated:

		June 30, 2021												December 31, 2020
In thousands		Debt				Unamortized Debt Issuance Costs				Net Debt				Debt				Unamortized Debt Issuance Costs				Net Debt
Senior revolving credit facility		$	144,531			$	(1,229	)		$	143,302			$	286,113			$	(1,687	)		$	284,426
RMR II revolving warehouse credit facility			44,444				(1,701	)			42,743				42,061				(1,486	)			40,575
RMR IV revolving warehouse credit facility			67,407				(643	)			66,764				—				—				—
RMR V revolving warehouse credit facility			37,383				(628	)			36,755				—				—				—
RMIT 2018-2 securitization			—				—				—				130,349				—				130,349
RMIT 2019-1 securitization			130,172				(834	)			129,338				130,172				(1,216	)			128,956
RMIT 2020-1 securitization			180,214				(1,854	)			178,360				180,214				(2,272	)			177,942
RMIT 2021-1 securitization			248,916				(2,467	)			246,449				—				—				—
Total		$	853,067			$	(9,356	)		$	843,711			$	768,909			$	(6,661	)		$	762,248
Unused amount of revolving credit facilities (subject to borrowing base)		$	647,362											$	438,082

Variable Interest Entity, Primary Beneficiary [Member]

Schedule of Carrying Amounts of Consolidated VIE Assets and Liabilities

The carrying amounts of consolidated VIE assets and liabilities are as follows:

In thousands		June 30, 2021				December 31, 2020
Assets
Cash		$	189			$	236
Net finance receivables			714,401				483,674
Allowance for credit losses			(80,622	)			(59,046	)
Restricted cash			85,231				51,849
Other assets			7				5
Total assets		$	719,206			$	476,718
Liabilities
Net debt		$	700,409			$	477,822
Accounts payable and accrued expenses			138				87
Total liabilities		$	700,547			$	477,909

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
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