v3.24.2
BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Schedule of Calculation of Dilutive Stock Awards The following table shows the calculation of dilutive share-based awards:
Three Months Ended June 30,Six Months Ended June 30,
(Shares In Thousands)2024202320242023
Weighted Average Shares Outstanding42,955 46,474 43,325 47,160 
Dilutive Effect of Share-Based Awards766 422 799 354 
Weighted Average Shares Outstanding Assuming Dilution43,721 46,896 44,124 47,514 
Schedule of Allowance for Doubtful Accounts
The following table shows the components of the accounts receivable allowance:
Three Months Ended June 30,Six Months Ended June 30,
(In Thousands)2024202320242023
Beginning Balance$64,272 $65,170 $64,180 $69,264 
Net Book Value of Accounts Written Off(86,548)(83,135)(171,835)(169,198)
Recoveries9,576 9,727 20,599 21,746 
Accounts Receivable Provision77,382 73,782 151,738 143,732 
Ending Balance$64,682 $65,544 $64,682 $65,544 
Schedule of Allowance for Lease Merchandise
The following table shows the components of the allowance for lease merchandise write-offs, which is included within lease merchandise, net in the condensed consolidated balance sheets:
Three Months Ended June 30,Six Months Ended June 30,
(In Thousands)2024202320242023
Beginning Balance$48,250 $47,945 $44,180 $47,118 
Net Book Value of Merchandise Written off(45,256)(41,151)(85,993)(80,583)
Recoveries1,891 1,720 3,557 3,615 
Provision for Write-offs43,783 40,965 86,924 79,329 
Ending Balance$48,668 $49,479 $48,668 $49,479 
Schedule of Loan Portfolio Credit Quality Indicators Below is a summary of the credit quality of the Company's loan portfolio as of June 30, 2024 and December 31, 2023 by FICO score as determined at the time of loan origination:
FICO Score CategoryJune 30, 2024December 31, 2023
600 or Less7.0 %6.5 %
Between 600 and 70070.7 %73.5 %
700 or Greater11.5 %11.2 %
No Score Identified10.8 %8.8 %
The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year:
As of June 30, 2024 (In Thousands)
20242023
2022 and Prior
Revolving LoansTotal
FICO Score Category:
600 or Less$— $— $— $11,275 $11,275 
Between 600 and 700— — — 113,055 113,055 
700 or Greater— — — 17,759 17,759 
No Score Identified17,475 — — — 17,475 
Total Amortized Cost$17,475 $— $— $142,089 $159,564 
Gross Charge-offs by Origination Year for the Six Months Ended June 30, 2024
$2,565 $3,017 $— $21,596 $27,178 
Schedule of Prepaid Expenses and Other Assets
Prepaid expenses and other assets consist of the following:
(In Thousands)June 30, 2024December 31, 2023
Prepaid Expenses$18,389 $17,768 
Prepaid Lease Merchandise9,455 9,944 
Prepaid Software Expenses9,593 8,624 
Unamortized Initial Direct Costs on Lease Agreement Originations5,469 7,192 
Other Assets7,118 7,183 
Prepaid Expenses and Other Assets$50,024 $50,711 
Schedule of Accounts Payable and Accrued Expenses
Accounts payable and accrued expenses consist of the following:
(In Thousands)June 30, 2024December 31, 2023
Accounts Payable$22,693 $20,237 
Accrued Salaries and Benefits21,346 27,256 
Accrued Sales and Personal Property Taxes12,861 11,684 
Income Taxes Payable4,796 1,153 
Uncertain Tax Positions1
56,778 54,995 
Accrued Vendor Rebates6,066 11,446 
Other Accrued Expenses and Liabilities25,797 24,488 
Accounts Payable and Accrued Expenses$150,337 $151,259 
1 The uncertain tax positions as of June 30, 2024 and December 31, 2023 are primarily related to the Company’s tax treatment of the $175.0 million settlement payment made in 2020 to the FTC as discussed in Note 9 to the consolidated financial statements in the 2023 Annual Report.
Schedule of Stockholders Equity
Changes in shareholders' equity for the six months ended June 30, 2024 and 2023 are as follows:
 Treasury StockCommon StockAdditional
Paid-in Capital		Retained EarningsTotal Shareholders’ Equity
(In Thousands)SharesAmountSharesAmount
Balance, December 31, 2023
(38,405)$(1,095,202)82,079 $41,039 $352,421 $1,293,073 $591,331 
Cash Dividends, $0.12 per share
— — — — — (5,337)(5,337)
Stock-Based Compensation— — — — 6,689 — 6,689 
Reissued Shares281 7,391 — — (12,460)— (5,069)
Repurchased Shares(781)(24,490)— — — — (24,490)
Net Earnings— — — — — 21,966 21,966 
Balance, March 31, 2024
(38,905)$(1,112,301)82,079 $41,039 $346,650 $1,309,702 $585,090 
Cash Dividends, $0.12 per share
— — — — — (5,275)(5,275)
Stock-Based Compensation— — — — 7,335 — 7,335 
Reissued Shares172 4,438 — — (6,433)— (1,995)
Repurchased Shares(1,030)(37,076)— — — — (37,076)
Net Earnings— — — — — 33,774 33,774 
Balance, June 30, 2024
(39,763)$(1,144,939)82,079 $41,039 $347,552 $1,338,201 $581,853 
 Treasury StockCommon StockAdditional
Paid-in Capital		Retained EarningsTotal Shareholders’ Equity
(In Thousands)SharesAmountSharesAmount
Balance, December 31, 2022
(34,044)$(963,627)82,079 $41,039 $338,814 $1,154,235 $570,461 
Stock-Based Compensation— — — — 5,460 — 5,460 
Reissued Shares166 4,778 — — (7,171)— (2,393)
Repurchased Shares(1,459)(36,769)— — — — (36,769)
Net Earnings— — — — — 48,033 48,033 
Balance, March 31, 2023
(35,337)$(995,618)82,079 $41,039 $337,103 $1,202,268 $584,792 
Stock-Based Compensation— — — — 6,886 — 6,886 
Reissued Shares52 1,439 — — (973)— 466 
Repurchased Shares(1,083)(35,713)— — — — (35,713)
Net Earnings— — — — — 37,218 37,218 
Balance, June 30, 2023
(36,368)$(1,029,892)82,079 $41,039 $343,016 $1,239,486 $593,649