Customer Accounts Receivable

3 Months Ended

Apr. 30, 2017

Customer accounts receivable consisted of the following:



	Total Outstanding Balance
	Customer Accounts Receivable						60 Days Past Due ⁽¹⁾				Re-aged ⁽¹⁾
(in thousands)	April 30, 2017			January 31, 2017			April 30, 2017		January 31, 2017		April 30, 2017		January 31, 2017
Customer accounts receivable	$	1,342,789		$	1,417,581		$	112,080	$	127,747	$	96,521	$	111,585
Restructured accounts	138,111			138,858			33,572		38,010		138,111		138,858
Total customer portfolio balance	1,480,900			1,556,439			$	145,652	$	165,757	$	234,632	$	250,443
Allowance for uncollectible accounts	(207,061		)	(210,175		)
Allowances for no-interest option credit programs	(17,860		)	(21,207		)
Deferred fees and origination costs, net	(10,604		)	(6,991		)
Total customer accounts receivable, net	1,245,375			1,318,066
Short-term portion of customer accounts receivable, net	(652,046		)	(702,162		)
Long-term portion of customer accounts receivable, net	$	593,329		$	615,904
Securitized receivables held by the VIEs	$	1,261,699		$	1,015,837		$	143,664	$	156,344	$	232,269	$	238,375
Receivables not held by the VIEs	219,201			540,602			1,988		9,413		2,363		12,068
Total customer portfolio balance	$	1,480,900		$	1,556,439		$	145,652	$	165,757	$	234,632	$	250,443

(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 April 30, 2017 and January 31, 2017, the amounts included within both past due and re-aged were $53.2 million and $66.7 million, respectively. As of April 30, 2017 and January 31, 2017, the total customer portfolio balance past due one day or greater was $387.2 million and $406.1 million, respectively. These amounts include the 60 days past due balances shown.

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



	Three Months Ended April 30, 2017									Three Months Ended April 30, 2016
(in thousands)	Customer Accounts Receivable			Restructured Accounts			Total			Customer Accounts Receivable			Restructured Accounts			Total
Allowance at beginning of period	$	158,992		$	51,183		$	210,175		$	149,226		$	41,764		$	190,990
Provision ⁽¹⁾	48,516			17,232			65,748			52,924			14,937			67,861
Principal charge-offs ⁽²⁾	(48,087		)	(13,397		)	(61,484		)	(45,634		)	(10,097		)	(55,731		)
Interest charge-offs	(7,519		)	(2,095		)	(9,614		)	(8,129		)	(1,798		)	(9,927		)
Recoveries ⁽²⁾	1,749			487			2,236			1,585			351			1,936
Allowance at end of period	$	153,651		$	53,410		$	207,061		$	149,972		$	45,157		$	195,129
Average total customer portfolio balance	$	1,372,808		$	139,026		$	1,511,834		$	1,438,442		$	121,447		$	1,559,889


(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 principal collections of previously charged-off balances. Net charge-offs are calculated as the net of principal charge-offs and recoveries.