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v3.24.3

Note C - Finance Receivables, Net (Tables) | 6 Months Ended
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Oct. 31, 2024
Notes Tables |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] |
(In thousands) |  | October 31, 2024 |  |  | April 30, 2024 |
Gross contract amount |  | $ | 1,889,413 |  |  | $ | 1,844,392 |
Less unearned finance charges |  |  | (415,619 | ) |  |  | (409,004 | )
Principal balance |  |  | 1,473,794 |  |  |  | 1,435,388 |
Less: estimated insurance receivables for APP claims |  |  | (2,485 | ) |  |  | (3,026 | )
Less: allowance for APP claims |  |  | (2,651 | ) |  |  | (3,171 | )
Less allowance for credit losses |  |  | (336,693 | ) |  |  | (331,260 | )
Finance receivables, net |  |  | 1,131,965 |  |  |  | 1,097,931 |
Loan origination costs |  |  | 653 |  |  |  | 660 |
Finance receivables, net, including loan origination costs |  | $ | 1,132,618 |  |  | $ | 1,098,591 |
Change In Finance Receivables Net [Table Text Block] |
|  | Six Months Ended October 31, |
(In thousands) |  | 2024 |  |  | 2023 |
Balance at beginning of period |  | $ | 1,097,931 |  |  | $ | 1,062,760 |
Finance receivable originations |  |  | 527,487 |  |  |  | 580,082 |
Finance receivable collections |  |  | (224,640 | ) |  |  | (218,208 | )
Provision for credit losses |  |  | (194,945 | ) |  |  | (231,718 | )
Losses on claims for accident protection plan |  |  | (16,797 | ) |  |  | (15,173 | )
Inventory acquired in repossession and accident protection plan claims |  |  | (57,071 | ) |  |  | (73,217 | )
Balance at end of period |  | $ | 1,131,965 |  |  | $ | 1,104,526 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] |
|  | Six Months Ended October 31, |
(In thousands) |  | 2024 |  |  | 2023 |
Balance at beginning of period |  | $ | 331,260 |  |  | $ | 299,608 |
Provision for credit losses |  |  | 194,945 |  |  |  | 231,718 |
Charge-offs |  |  | (250,057 | ) |  |  | (255,685 | )
Recovered collateral |  |  | 60,545 |  |  |  | 68,689 |
Balance at end of period |  | $ | 336,693 |  |  | $ | 344,330 |
Financing Receivable, Past Due [Table Text Block] |
(Dollars in thousands) |  | October 31, 2024 |  |  | April 30, 2024 |  |  | October 31, 2023 |
|  | Principal |  |  | Percent of |  |  | Principal |  |  | Percent of |  |  | Principal |  |  | Percent of |
|  | Balance |  |  | Portfolio |  |  | Balance |  |  | Portfolio |  |  | Balance |  |  | Portfolio |
Current |  | $ | 1,188,852 |  |  |  | 80.66 | % |  | $ | 1,125,945 |  |  |  | 78.44 | % |  | $ | 1,121,215 |  |  |  | 76.62 | %
3 - 29 days past due |  |  | 233,486 |  |  |  | 15.84 | % |  |  | 264,491 |  |  |  | 18.43 | % |  |  | 290,123 |  |  |  | 19.83 | %
30 - 60 days past due |  |  | 35,039 |  |  |  | 2.38 | % |  |  | 34,042 |  |  |  | 2.37 | % |  |  | 37,602 |  |  |  | 2.57 | %
61 - 90 days past due |  |  | 10,083 |  |  |  | 0.68 | % |  |  | 6,438 |  |  |  | 0.45 | % |  |  | 7,068 |  |  |  | 0.48 | %
> 90 days past due |  |  | 6,334 |  |  |  | 0.44 | % |  |  | 4,472 |  |  |  | 0.31 | % |  |  | 7,390 |  |  |  | 0.50 | %
Total |  | $ | 1,473,794 |  |  |  | 100.00 | % |  | $ | 1,435,388 |  |  |  | 100.00 | % |  | $ | 1,463,398 |  |  |  | 100.00 | %
Financing Receivable Credit Quality Indicators [Table Text Block] |
|  | Six Months Ended October 31, |
|  | 2024 |  |  | 2023 |
Average total collected per active customer per month |  | $ | 561 |  |  | $ | 534 |
Principal collected as a percent of average finance receivables |  |  | 15.4 | % |  |  | 15.2 | %
Average down-payment percentage |  |  | 5.2 | % |  |  | 4.9 | %
Average originating contract term (in months) |  |  | 44.3 |  |  |  | 44.4 |
|  | As of |
|  | October 31, 2024 |  |  | October 31, 2023 |
Portfolio weighted average contract term, including modifications (in months) |  |  | 48.2 |  |  |  | 47.3 |
Schedule of Financing Receivable by Fiscal Year of Origination [Table Text Block] |
|  |  | As of October 31, 2024 |
(Dollars in thousands) |  |  | Fiscal Year of Origination |  |  | Prior to |  |  |  |  |  |  |  |  |
Customer Rating |  |  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2021 |  |  | Total |  |  | % |
1-2 |  |  | $ | 30,975 |  |  | $ | 27,649 |  |  | $ | 8,152 |  |  | $ | 1,805 |  |  | $ | 133 |  |  | $ | 54 |  |  | $ | 68,768 |  |  |  | 4.7 | %
3-4 |  |  | $ | 171,128 |  |  | $ | 206,403 |  |  | $ | 75,913 |  |  | $ | 19,301 |  |  | $ | 1,836 |  |  | $ | 313 |  |  | $ | 474,894 |  |  |  | 32.2 | %
5-6 |  |  | $ | 269,257 |  |  | $ | 369,298 |  |  | $ | 206,893 |  |  | $ | 73,766 |  |  | $ | 9,949 |  |  | $ | 969 |  |  | $ | 930,132 |  |  |  | 63.1 | %
Total |  |  | $ | 471,360 |  |  | $ | 603,350 |  |  | $ | 290,958 |  |  | $ | 94,872 |  |  | $ | 11,918 |  |  | $ | 1,336 |  |  | $ | 1,473,794 |  |  |  | 100.0 | %
Charge-offs |  |  | $ | 24,742 |  |  | $ | 137,604 |  |  | $ | 66,999 |  |  | $ | 18,381 |  |  | $ | 1,993 |  |  | $ | 338 |  |  | $ | 250,057 |  |  |  |  |
|  |  | As of October 31, 2023 |
(Dollars in thousands) |  |  | Fiscal Year of Origination |  |  | Prior to |  |  |  |  |  |  |  |  |
Customer Rating |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2020 |  |  | Total |  |  | % |
1-2 |  |  | $ | 26,044 |  |  | $ | 23,346 |  |  | $ | 7,271 |  |  | $ | 1,127 |  |  | $ | 150 |  |  | $ | 13 |  |  | $ | 57,951 |  |  |  | 4.0 | %
3-4 |  |  | $ | 189,850 |  |  | $ | 190,995 |  |  | $ | 64,672 |  |  | $ | 11,479 |  |  | $ | 643 |  |  | $ | 246 |  |  | $ | 457,885 |  |  |  | 31.3 | %
5-6 |  |  | $ | 317,130 |  |  | $ | 411,515 |  |  | $ | 178,564 |  |  | $ | 37,177 |  |  | $ | 2,485 |  |  | $ | 691 |  |  | $ | 947,562 |  |  |  | 64.7 | %
Total |  |  | $ | 533,024 |  |  | $ | 625,856 |  |  | $ | 250,507 |  |  | $ | 49,783 |  |  | $ | 3,278 |  |  | $ | 950 |  |  | $ | 1,463,398 |  |  |  | 100.0 | %
Charge-offs |  |  | $ | 36,228 |  |  | $ | 153,765 |  |  | $ | 54,307 |  |  | $ | 10,301 |  |  | $ | 791 |  |  | $ | 293 |  |  | $ | 255,685 |  |  |  |  |

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