Receivables and Allowance for Credit Losses (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| Accounts and Financing Receivable, after Allowance for Credit Loss [Abstract] |
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| Schedule of Notes Receivable |
The following table summarizes the composition of the notes receivable balances by credit quality indicator and the allowance for credit losses: | | | | | | | | | | | | | (in thousands) | March 31, 2026 | | December 31, 2025 | | Senior | $ | 56,546 | | | $ | 98,257 | | | Subordinated | 30,505 | | | 13,356 | | | Unsecured | 3,652 | | | 4,044 | | | Total notes receivable | $ | 90,703 | | | $ | 115,657 | | | Less: allowance for credit losses | 8,451 | | | 8,481 | | | Total notes receivable, net of allowance for credit losses | $ | 82,252 | | | $ | 107,176 | | | Current portion, net of allowance for credit losses | $ | 54,849 | | | $ | 94,686 | | | Long-term portion, net of allowance for credit losses | $ | 27,403 | | | $ | 12,490 | |
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| Schedule of Financing Receivable Credit Quality Indicators |
The following table summarizes the amortized cost basis of the notes receivable by the year of origination and credit quality indicator: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | 2026 | | 2025 | | 2024 | | 2023 | | 2022 | | Prior | | Total | | Senior | $ | — | | | $ | — | | | $ | 41,346 | | | $ | — | | | $ | — | | | $ | 15,200 | | | $ | 56,546 | | | Subordinated | — | | | 1,501 | | | — | | | 3,503 | | | — | | | 25,501 | | | 30,505 | | | Unsecured | — | | | 357 | | | 129 | | | — | | | — | | | 3,166 | | | 3,652 | | | Total notes receivable | $ | — | | | $ | 1,858 | | | $ | 41,475 | | | $ | 3,503 | | | $ | — | | | $ | 43,867 | | | $ | 90,703 | |
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| Schedule of Financing Receivable, Allowance for Credit Loss |
The following table summarizes the activity related to the Company’s notes receivable allowance for credit losses: | | | | | | | | | | | | | (in thousands) | March 31, 2026 | | December 31, 2025 | | Beginning balance | $ | 8,481 | | | $ | 7,331 | | | (Reversal) provision for credit losses | (30) | | | 1,150 | | | | | | | Ending balance | $ | 8,451 | | | $ | 8,481 | |
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| Schedule of Past Due Balances of Notes Receivable |
The following table summarizes the past due balances by credit quality indicator of the notes receivable: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | 1- 30 days
Past Due | | 31-89 days
Past Due | | > 90 days
Past Due | | Total
Past Due | | Current | | Total
Notes Receivable | | As of March 31, 2026 | | | | | | | | | | | | | Senior | $ | — | | | $ | — | | | $ | 42,900 | | | $ | 42,900 | | | $ | 13,646 | | | $ | 56,546 | | | Subordinated | — | | | — | | | — | | | — | | | 30,505 | | | 30,505 | | | Unsecured | — | | | — | | | 204 | | | 204 | | | 3,448 | | | 3,652 | | | $ | — | | | $ | — | | | $ | 43,104 | | | $ | 43,104 | | | $ | 47,599 | | | $ | 90,703 | | | As of December 31, 2025 | | | | | | | | | | | | | Senior | $ | — | | | $ | — | | | $ | 42,900 | | | $ | 42,900 | | | $ | 55,357 | | | $ | 98,257 | | | Subordinated | — | | | — | | | — | | | — | | | 13,356 | | | 13,356 | | | Unsecured | — | | | — | | | 404 | | | 404 | | | 3,640 | | | 4,044 | | | $ | — | | | $ | — | | | $ | 43,304 | | | $ | 43,304 | | | $ | 72,353 | | | $ | 115,657 | |
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