Finance Receivables (Tables)

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Schedule of Carrying Value of Finance Receivables

The carrying values of finance receivables are as follows (in thousands):

	December 31,
	2024		2023
Term loans	$	224,073	$	221,145
Royalty purchases	64,936		67,260
Total before allowance for credit losses	289,009		288,405
Allowance for credit losses	(11,249)		(13,901)
Total carrying value	$	277,760	$	274,504

Schedule of Allowance for Credit Losses

The following table details the changes in the allowance for credit losses by portfolio segment for the respective periods (in thousands):

	December 31, 2024						December 31, 2023
	Term Loans		Royalties		Total		Term Loans		Royalties		Total
Allowance at beginning of period	$	9,731	$	4,170	$	13,901	$	—	$	11,846	$	11,846
Effect of adoption of ASU 2016-13	—		—		—		8,900		2,886		11,786
Provision for (benefit from) credit losses	8,907		(79)		8,828		831		1,284		2,115
Write offs, net of recoveries(1)	(11,480)		—		(11,480)		—		(11,846)		(11,846)
Allowance at end of period	$	7,158	$	4,091	$	11,249	$	9,731	$	4,170	$	13,901
(1) Reversal of finance receivable-specific ACL recognized in prior periods. No impact to consolidated statement of income for the year ended December 31, 2023.

Schedule of Allowance for Credit Losses

The following table presents nonaccrual and performing finance receivables by portfolio segment, net of credit loss allowance (in thousands):

	December 31, 2024						December 31, 2023
	Nonaccrual		Performing		Total		Nonaccrual		Performing		Total
Term loans	$	1,000	$	223,073	$	224,073	$	9,128	$	212,017	$	221,145
Royalty purchases	13,830		51,106		64,936		16,854		50,406		67,260
Total before allowance for credit losses	$	14,830	$	274,179	$	289,009	$	25,982	$	262,423	$	288,405
Allowance for credit losses	(2,075)		(9,174)		(11,249)		(1,447)		(12,454)		(13,901)
Total carrying value	$	12,755	$	265,005	$	277,760	$	24,535	$	249,969	$	274,504

Schedule of Financing Receivable by origination year

The following table summarizes the carrying value of Finance Receivables by origination year, grouped by risk rating as of December 31, 2024 and December 31, 2023 (in thousands):

	December 31, 2024
	2024		2023		2022		2021		2020		2019		Prior		Total
Term Loans
5	$	—	$	—	$	—	$	16,378	$	—	$	28,926	$	—	$	45,304
4	7,929		36,406		55,353		—		—		—		—		99,688
3	—		24,920		—		11,930		—		26,482		—		63,332
2	—		—		—		14,749		—		—		—		14,749
1	—		—		—		—		—		—		1,000		1,000
Subtotal - Term Loans	$	7,929	$	61,326	$	55,353	$	43,057	$	—	$	55,408	$	1,000	$	224,073
Royalties
Green	$	8,005	$	11,685	$	11,231	$	—	$	15,865	$	—	$	1,267	$	48,053
Yellow	—		—		—		—		3,053		—		—		3,053
Red	—		—		—		3,050		8,433		—		2,347		13,830
Subtotal - Royalties	$	8,005	$	11,685	$	11,231	$	3,050	$	27,351	$	—	$	3,614	$	64,936
Total Finance Receivables, gross	$	15,934	$	73,011	$	66,584	$	46,107	$	27,351	$	55,408	$	4,614	$	289,009

	December 31, 2023
	2023		2022		2021		2020		2019		Prior		Total
Term Loans
5	$	—	$	—	$	13,734	$	—	$	5,696	$	—	$	19,430
4	25,799		32,211		—		—		—		10,485		68,495
3	24,341		24,285		10,227		—		31,807		—		90,660
2	—		6,924		12,493		—		—		14,015		33,432
1	—		—		9,128		—		—		—		9,128
Subtotal - Term Loans	$	50,140	$	63,420	$	45,582	$	—	$	37,503	$	24,500	$	221,145
Royalties
Green	$	27,785	$	—	$	—	$	14,650	$	—	$	1,340	$	43,775
Yellow	—		—		—		3,212		—		3,419		6,631
Red	—		—		3,834		10,433		—		2,587		16,854
Subtotal - Royalties	$	27,785	$	—	$	3,834	$	28,295	$	—	$	7,346	$	67,260
Total Finance Receivables, gross	$	77,925	$	63,420	$	49,416	$	28,295	$	37,503	$	31,846	$	288,405