Customer Accounts Receivable

6 Months Ended

Jul. 31, 2017

Customer accounts receivable consisted of the following:



	Total Outstanding Balance
	Customer Accounts Receivable						60 Days Past Due ⁽¹⁾				Re-aged ⁽¹⁾
(in thousands)	July 31, 2017			January 31, 2017			July 31, 2017		January 31, 2017		July 31, 2017		January 31, 2017
Customer accounts receivable	$	1,337,121		$	1,417,581		$	111,963	$	127,747	$	94,470	$	111,585
Restructured accounts	142,411			138,858			41,820		38,010		142,411		138,858
Total customer portfolio balance	1,479,532			1,556,439			$	153,783	$	165,757	$	236,881	$	250,443
Allowance for uncollectible accounts	(202,655		)	(210,175		)
Allowances for no-interest option credit programs	(18,587		)	(21,207		)
Deferred fees and origination costs, net	(12,152		)	(6,991		)
Total customer accounts receivable, net	1,246,138			1,318,066
Short-term portion of customer accounts receivable, net	(644,148		)	(702,162		)
Long-term portion of customer accounts receivable, net	$	601,990		$	615,904
Securitized receivables held by the VIEs	$	910,385		$	1,015,837		$	120,385	$	156,344	$	231,320	$	238,375
Receivables not held by the VIEs	569,147			540,602			33,398		9,413		5,561		12,068
Total customer portfolio balance	$	1,479,532		$	1,556,439		$	153,783	$	165,757	$	236,881	$	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 July 31, 2017 and January 31, 2017, the amounts included within both past due and re-aged were $70.8 million and $66.7 million, respectively. As of July 31, 2017 and January 31, 2017, the total customer portfolio balance past due one day or greater was $391.5 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:



	Six Months Ended July 31, 2017									Six Months Ended July 31, 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⁾	92,285			33,208			125,493			108,333			29,768			138,101
Principal charge-offs ⁽²⁾	(92,251		)	(26,159		)	(118,410		)	(91,261		)	(20,969		)	(112,230		)
Interest charge-offs	(14,911		)	(4,228		)	(19,139		)	(15,384		)	(3,544		)	(18,928		)
Recoveries ⁽²⁾	3,534			1,002			4,536			2,636			607			3,243
Allowance at end of period	$	147,649		$	55,006		$	202,655		$	153,550		$	47,626		$	201,176
Average total customer portfolio balance	$	1,356,569		$	139,106		$	1,495,675		$	1,428,396		$	123,451		$	1,551,847


(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.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

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