Guarantor Financial Information (Tables)

6 Months Ended

Jul. 31, 2017

Guarantor Financial Information [Abstract]

Condensed Balance Sheet [Table Text Block]

Condensed Consolidated Balance Sheet as of July 31, 2017.

(in thousands)	Conn's, Inc.		Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	35,018	$	—	$	—		$	35,018
Restricted cash	—		—		86,436		—			86,436
Customer accounts receivable, net of allowance	—		213,293		430,855		—			644,148
Other accounts receivable	—		59,401		—		—			59,401
Inventories	—		196,768		—		—			196,768
Other current assets	—		19,711		8,526		(12,354		)	15,883
Total current assets	—		524,191		525,817		(12,354		)	1,037,654
Investment in and advances to subsidiaries	673,953		205,738		—		(879,691		)	—
Long-term portion of customer accounts receivable, net of allowance	—		270,348		331,642		—			601,990
Property and equipment, net	—		154,788		—		—			154,788
Deferred income taxes	72,435		—		—		—			72,435
Other assets	—		8,196		—		—			8,196
Total assets	$	746,388	$	1,163,261	$	857,459	$	(892,045	)	$	1,875,063
Liabilities and Stockholders' Equity
Current liabilities:
Current maturities of capital lease obligations	$	—	$	906	$	—	$	—		$	906
Accounts payable	—		100,268		—		—			100,268
Accrued expenses	685		54,162		5,660		(3,828		)	56,679
Other current liabilities	—		25,335		4,146		(8,526		)	20,955
Total current liabilities	685		180,671		9,806		(12,354		)	178,808
Deferred rent	—		85,538		—		—			85,538
Long-term debt and capital lease obligations	220,426		204,534		635,760		—			1,060,720
Other long-term liabilities	—		18,565		6,155		—			24,720
Total liabilities	221,111		489,308		651,721		(12,354		)	1,349,786
Total stockholders' equity	525,277		673,953		205,738		(879,691		)	525,277
Total liabilities and stockholders' equity	$	746,388	$	1,163,261	$	857,459	$	(892,045	)	$	1,875,063

Condensed Consolidated Balance Sheet as of January 31, 2017.

(in thousands)	Conn's, Inc.		Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	23,566	$	—	$	—		$	23,566
Restricted cash	—		—		110,698		—			110,698
Customer accounts receivable, net of allowance	—		173,054		529,108		—			702,162
Other accounts receivable	—		69,286		—		—			69,286
Inventories	—		164,856		—		—			164,856
Other current assets	—		21,505		7,368		(11,768		)	17,105
Total current assets	—		452,267		647,174		(11,768		)	1,087,673
Investment in and advances to subsidiaries	678,149		220,107		—		(898,256		)	—
Long-term portion of customer accounts receivable, net of allowance	—		295,522		320,382		—			615,904
Property and equipment, net	—		159,202		—		—			159,202
Deferred income taxes	71,442		—		—		—			71,442
Other assets	—		6,913		—		—			6,913
Total assets	$	749,591	$	1,134,011	$	967,556	$	(910,024	)	$	1,941,134
Liabilities and Stockholders' Equity
Current liabilities:
Current maturities of capital lease obligations	$	—	$	849	$	—	$	—		$	849
Accounts payable	—		101,612		—		—			101,612
Accrued expenses	686		40,287		6,525		(4,399		)	43,099
Other current liabilities	—		25,230		3,961		(7,370		)	21,821
Total current liabilities	686		167,978		10,486		(11,769		)	167,381
Deferred rent	—		87,957		—		—			87,957
Long-term debt and capital lease obligations	219,768		179,044		745,581		—			1,144,393
Other long-term liabilities	—		20,883		2,730		—			23,613
Total liabilities	220,454		455,862		758,797		(11,769		)	1,423,344
Total stockholders' equity	529,137		678,149		208,759		(898,255		)	517,790
Total liabilities and stockholders' equity	$	749,591	$	1,134,011	$	967,556	$	(910,024	)	$	1,941,134

Condensed Income Statement [Table Text Block]

Condensed Consolidated Statement of Operations for the three months ended July 31, 2017.

(in thousands)	Conn's, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Total net sales	$	—		$	286,413		$	—		$	—		$	286,413
Finance charges and other revenues	—			40,279			39,955			—			80,234
Servicing fee revenue	—			12,648			—			(12,648		)	—
Total revenues	—			339,340			39,955			(12,648		)	366,647
Costs and expenses:
Cost of goods sold	—			172,306			—			—			172,306
Selling, general and administrative expenses	—			111,455			12,825			(12,648		)	111,632
Provision for bad debts	—			25,418			24,031			—			49,449
Charges and credits	—			4,068			—			—			4,068
Total costs and expenses	—			313,247			36,856			(12,648		)	337,455
Operating income	—			26,093			3,099			—			29,192
Interest expense	4,443			743			14,853			—			20,039
Loss on extinguishment of debt	—			—			2,097			—			2,097
Income (loss) before income taxes	(4,443		)	25,350			(13,851		)	—			7,056
Provision (benefit) for income taxes	(1,967		)	12,124			(7,374		)	—			2,783
Net income (loss) before consolidation	$	(2,476	)	$	13,226		$	(6,477	)	$	—		$	4,273
Income (loss) from consolidated subsidiaries (after tax)	$	6,749		$	(6,477	)	$	—		$	(272	)	$	—
Consolidated net income (loss)	$	4,273		$	6,749		$	(6,477	)	$	(272	)	$	4,273

Condensed Consolidated Statement of Operations for the three months ended July 31, 2016.

(in thousands)	Conn's, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Total net sales	$	—		$	331,999		$	—		$	—		$	331,999
Finance charges and other revenues	—			33,062			33,096			—			66,158
Servicing fee revenue	—			13,176			—			(13,176		)	—
Total revenues	—			378,237			33,096			(13,176		)	398,157
Costs and expenses:
Cost of goods sold	—			208,869			—			—			208,869
Selling, general and administrative expenses	—			119,846			13,176			(13,176		)	119,846
Provision for bad debts	—			20,830			39,366			—			60,196
Charges and credits	—			2,895			—			—			2,895
Total costs and expenses	—			352,440			52,542			(13,176		)	391,806
Operating income	—			25,797			(19,446		)	—			6,351
Interest expense	4,397			3,352			16,389			—			24,138
Income (loss) before income taxes	(4,397		)	22,445			(35,835		)	—			(17,787		)
Provision (benefit) for income taxes	(1,449		)	7,398			(11,812		)	—			(5,863		)
Net income (loss) before consolidation	$	(2,948	)	$	15,047		$	(24,023	)	$	—		$	(11,924	)
Income (loss) from consolidated subsidiaries (after tax)	$	(8,976	)	$	(24,023	)	$	—		$	32,999		$	—
Consolidated net income (loss)	$	(11,924	)	$	(8,976	)	$	(24,023	)	$	32,999		$	(11,924	)

Condensed Cash Flow Statement [Table Text Block]

Condensed Consolidated Statement of Cash Flows for the six months ended July 31, 2017.

(in thousands)	Conn's, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(1,905	)	$	(388,785	)	$	481,231		$	—		$	90,541
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(466,056		)	466,056			—
Sale of customer accounts receivables	—			466,056			—			(466,056		)	—
Purchase of property and equipment	—			(6,135		)	—			—			(6,135		)
Proceeds from sales of property	—			—			—			—			—
Net cash provided by (used in) investing activities	—			459,921			(466,056		)	—			(6,135		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			469,814			—			469,814
Payments on asset-backed notes	—			(78,779		)	(504,520		)	—			(583,299		)
Changes in restricted cash balances	—			—			24,262			—			24,262
Borrowings from revolving credit facility	—			844,941			—			—			844,941
Payments on revolving credit facility	—			(822,441		)	—			—			(822,441		)
Payment of debt issuance costs and amendment fees	—			(2,864		)	(4,731		)	—			(7,595		)
Proceeds from stock issued under employee benefit plans	1,905			—			—			—			1,905
Other	—			(541		)	—			—			(541		)
Net cash provided by (used in) financing activities	1,905			(59,684		)	(15,175		)	—			(72,954		)
Net change in cash and cash equivalents	—			11,452			—			—			11,452
Cash and cash equivalents, beginning of period	—			23,566			—			—			23,566
Cash and cash equivalents, end of period	$	—		$	35,018		$	—		$	—		$	35,018

Condensed Consolidated Statement of Cash Flows for the six months ended July 31, 2016.

(in thousands)	Conn's, Inc.			Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(29,362	)	$	(383,337	)	$	544,638		$	—		$	131,939
Cash flows from investing activities:
Purchase of customer accounts receivables	—			—			(478,080		)	478,080			—
Sale of customer accounts receivables	—			478,080			—			(478,080		)	—
Purchase of property and equipment	—			(32,020		)	—			—			(32,020		)
Proceeds from sales of property	—			686			—			—			686
Net change in intercompany	28,743									(28,743		)	—
Net cash provided by (used in) investing activities	28,743			446,746			(478,080		)	(28,743		)	(31,334		)
Cash flows from financing activities:
Proceeds from issuance of asset-backed notes	—			—			493,540			—			493,540
Payments on asset-backed notes	—			—			(537,819		)	—			(537,819		)
Changes in restricted cash balances	—			—			(17,406		)	—			(17,406		)
Borrowings from revolving credit facility	—			405,378			—			—			405,378
Payments on revolving credit facility	—			(435,085		)	—			—			(435,085		)
Payment of debt issuance costs and amendment fees	—			(1,216		)	(4,873		)	—			(6,089		)
Proceeds from stock issued under employee benefit plans	618			—			—			—			618
Net change in intercompany	—			(28,743		)				28,743			—
Other	1			(462		)	—			—			(461		)
Net cash provided by (used in) financing activities	619			(60,128		)	(66,558		)	28,743			(97,324		)
Net change in cash and cash equivalents	—			3,281			—			—			3,281
Cash and cash equivalents, beginning of period	—			12,254			—			—			12,254
Cash and cash equivalents, end of period	$	—		$	15,535		$	—		$	—		$	15,535