v3.25.2
Leased Merchandise, Net (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Leased Merchandise, Net
Leased merchandise, net consists of the following (in thousands):

As of June 30,As of
December 31,
202520242024
Leased merchandise$260,373 $364,831 $319,444 
Processing fees(2,229)(3,824)(2,960)
Merchant partner (discounts) and premiums, net
(34)1,851 493 
Accumulated depreciation(87,754)(117,145)(108,283)
Leased merchandise, before allowance for lease losses170,356 245,713 208,694 
Less allowance for lease losses(69,667)(102,778)(80,257)
Leased merchandise, net$100,689 $142,935 $128,437 
Leased Merchandise, Allowance for Credit Loss
The following table details the changes in the allowance for lease losses (in thousands):

Three Months EndedSix Months Ended
June 30,June 30,
 2025202420252024
Balance at beginning of period$68,785 $95,127 $80,257 $95,127 
Provision for lease losses32,543 47,653 60,105 90,663 
Charge-offs(33,633)(41,666)(75,007)(86,679)
Recoveries1,972 1,664 4,312 3,667 
Balance at end of period$69,667 $102,778 $69,667 $102,778