v3.20.2

Loans Receivable (Tables) | 6 Months Ended
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Jun. 30, 2020
Receivables [Abstract] |
Schedule of the Components of Loans Receivable, Net | Accounts receivable, net of allowances, consist of the following:
(In Thousands) | June 30, 2020 |  | December 31, 2019
Customers | $ | 57,134 |  |  | $ | 76,819 |
Corporate | 12,141 |  |  | 14,109 |
Franchisee | 10,658 |  |  | 13,231 |
Accounts Receivable | $ | 79,933 |  |  | $ | 104,159 |
The following is a summary of the Company’s loans receivable, net:
(In Thousands) | June 30, 2020 |  | December 31, 2019
Loans Receivable, Gross | $ | 96,519 |  |  | $ | 96,387 |
Unamortized Fees | (6,956) |  |  | (6,223) |
Loans Receivable, Amortized Cost | 89,563 |  |  | 90,164 |
Allowance for Loan Losses | (30,693) |  |  | (14,911) |
Loans Receivable, Net of Allowances and Unamortized Fees | $ | 58,870 |  |  | $ | 75,253 |
Loan Portfolio Credit Quality Indicators | Below is a summary of the credit quality of the Company's loan portfolio as of June 30, 2020 and December 31, 2019 by Fair Isaac and Company (FICO) score as determined at the time of loan origination:
FICO Score Category | June 30, 2020 |  | December 31, 2019
600 or Less | 7.5 | % |  | 6.7 | %
Between 600 and 700 | 79.8 | % |  | 80.1 | %
700 or Greater | 12.7 | % |  | 13.2 | %
The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year:
(In Thousands) |  |  |  |  |  |  |  |  |  |  |  |  |
As of June 30, 2020 | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Total
FICO Score Category: |  |  |  |  |  |  |  |  |  |  |  |  |
600 or Less | $ | 3,237 |  |  | $ | 2,781 |  |  | $ | 840 |  |  | $ | 130 |  |  | $ | 86 |  |  | $ | 16 |  |  | $ | 7,090 |
Between 600 and 700 | 24,541 |  |  | 25,584 |  |  | 10,656 |  |  | 6,042 |  |  | 3,485 |  |  | 962 |  |  | 71,270 |
700 or Greater | 4,248 |  |  | 3,078 |  |  | 1,604 |  |  | 1,123 |  |  | 929 |  |  | 221 |  |  | 11,203 |
Total Amortized Cost | $ | 32,026 |  |  | $ | 31,443 |  |  | $ | 13,100 |  |  | $ | 7,295 |  |  | $ | 4,500 |  |  | $ | 1,199 |  |  | $ | 89,563 |
Aging of the Loans Receivable Balance | Included in the table below is an aging of the loans receivable, gross balance:
(Dollar Amounts in Thousands) |  |  |
Aging Category1 | June 30, 2020 |  | December 31, 2019
30-59 days past due | 5.1 | % |  | 6.9 | %
60-89 days past due | 2.5 | % |  | 3.6 | %
90 or more days past due | 3.6 | % |  | 5.0 | %
Past due loans receivable | 11.2 | % |  | 15.5 | %
Current loans receivable | 88.8 | % |  | 84.5 | %
Balance of Credit Card Loans on Nonaccrual Status | $ | 2,038 |  |  | $ | 2,284 |
Balance of Loans Receivable 90 or More Days Past Due and Still Accruing Interest and Fees | $ | — |  |  | $ | — |
1 Customers that were granted a payment deferral due to factors caused by the COVID-19 pandemic maintained their delinquency status for an additional 30 days. This did not materially impact the aging disclosed above.
Components of the Allowance for Loan Losses | The tables below present the components of the allowance for loan losses for the three and six months ended June 30, 2020 and 2019:
| Three Months Ended June 30, |  |
(In Thousands) | 2020 |  | 2019
Beginning Balance | $ | 31,594 |  |  | $ | 12,363 |
Provision for Loan Losses | 3,428 |  |  | 4,968 |
Charge-offs | (5,132) |  |  | (5,158) |
Recoveries | 803 |  |  | 610 |
Ending Balance | $ | 30,693 |  |  | $ | 12,783 |
| Six Months Ended June 30, |  |
(In Thousands) | 2020 |  | 2019
Beginning Balance | $ | 14,911 |  |  | $ | 12,970 |
CECL Transition Adjustment1 | 9,463 |  |  | — |
Provision for Loan Losses | 16,150 |  |  | 9,223 |
Charge-offs | (11,333) |  |  | (10,642) |
Recoveries | 1,502 |  |  | 1,232 |
Ending Balance | $ | 30,693 |  |  | $ | 12,783 |
1 Upon the January 1, 2020 adoption of CECL as further described in Note 1 to these condensed consolidated financial statements, the Company increased its allowance for loan losses by $9.5 million, which was recorded as a cumulative-effect adjustment to the opening balance of the Company's 2020 retained earnings adjustment.

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953659-111524 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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