Customer Accounts Receivable

12 Months Ended

Jan. 31, 2017

Customer Accounts Receivable



	Total Outstanding Balance						60 Days Past Due⁽¹⁾				Re-aged⁽¹⁾
	January 31,						January 31,				January 31,
(in thousands)	2017			2016			2017		2016		2017		2016
Customer accounts receivable	$	1,417,581		$	1,470,205		$	127,747	$	127,400	$	111,585	$	112,221
Restructured accounts	138,858			117,651			38,010		30,323		138,858		117,651
Total customer portfolio balance	1,556,439			1,587,856			$	165,757	$	157,723	$	250,443	$	229,872
Net deferred origination fees and costs	(6,991		)	—
Allowance for uncollectible accounts	(210,175		)	(190,990		)
Allowances for no-interest option credit programs	(21,207		)	(21,290		)
Total customer accounts receivables, net	1,318,066			1,375,576
Short-term portion of customer accounts receivable, net	(702,162		)	(743,931		)
Long-term portion of customer accounts receivable, net	$	615,904		$	631,645
Securitized receivables held by the VIE	$	1,015,837		$	870,684		$	156,344	$	135,800	$	238,375	$	204,594
Receivables not held by the VIE	540,602			717,172			9,413		21,923		12,068		25,278
Total customer portfolio balance	$	1,556,439		$	1,587,856		$	165,757	$	157,723	$	250,443	$	229,872

(1)

Due to the fact that an account can become past due after having been re-aged, accounts could be represented as both past due and re-aged. As of January 31, 2017 and 2016, the amounts included within both 60 days past due and re-aged was $66.7 million and $55.2 million, respectively. As of January 31, 2017 and 2016, the total customer portfolio balance past due one day or greater was $406.1 million and $387.3 million, respectively. These amounts include the 60 days past due totals shown above.

The following presents the activity in our balance in the allowance for doubtful accounts and uncollectible interest for customer receivables:



	January 31, 2017
(in thousands)	Customer Accounts Receivable			Restructured Accounts			Total
Allowance at beginning of period	$	149,227		$	41,763		$	190,990
Provision⁽¹⁾	219,084			62,788			281,872
Principal charge-offs⁽²⁾	(183,235		)	(46,710		)	(229,945		)
Interest charge-offs	(30,686		)	(7,832		)	(38,518		)
Recoveries⁽²⁾	4,602			1,174			5,776
Allowance at end of period	$	158,992		$	51,183		$	210,175
Average customer portfolio balance outstanding	$	1,423,445		$	129,030		$	1,552,475



	January 31, 2016
(in thousands)	Customer Accounts Receivable			Restructured Accounts			Total
Allowance at beginning of period	$	118,786		$	28,196		$	146,982
Provision⁽¹⁾	204,499			53,658			258,157
Principal charge-offs⁽²⁾	(150,237		)	(34,604		)	(184,841		)
Interest charge-offs	(27,414		)	(6,314		)	(33,728		)
Recoveries⁽²⁾	3,593			827			4,420
Allowance at end of period	$	149,227		$	41,763		$	190,990
Average customer portfolio balance outstanding	$	1,355,804		$	102,522		$	1,458,326



	January 31, 2015
(in thousands)	Customer Accounts Receivable			Restructured Accounts			Total
Allowance at beginning of period	$	54,448		$	17,353		$	71,801
Provision⁽¹⁾	187,222			32,125			219,347
Principal charge-offs⁽²⁾	(113,525		)	(19,661		)	(133,186		)
Interest charge-offs	(20,503		)	(3,551		)	(24,054		)
Recoveries⁽²⁾	11,144			1,930			13,074
Allowance at end of period	$	118,786		$	28,196		$	146,982
Average customer portfolio balance outstanding	$	1,129,513		$	63,698		$	1,193,211


(1)	Includes provision for uncollectible interest, which is included in finance charges and other revenues.


(2)	Charge-offs include the principal amount of losses (excluding accrued and unpaid interest). Recoveries include the principal amount collected or sold to third-parties during the period for previously charged-off balances. Net charge-offs are calculated as the net of principal charge-offs and recoveries.