Variable Interest Entities (Tables)

6 Months Ended

Jul. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of assets and liabilities held by the VIE

The following table presents the assets and liabilities held by the VIEs (for legal purposes, the assets and liabilities of the VIEs will remain distinct from Conn’s, Inc.):


(in thousands)	July 31, 2020		January 31, 2020
Assets:
Restricted cash	$	61,901	$	73,214
Due from Conn’s, Inc., net	5,542		307
Customer accounts receivable:
Customer accounts receivable	442,248		838,210
Restructured accounts	151,039		147,971
Allowance for uncollectible accounts	(173,872)		(151,263)
Allowance for no-interest option credit programs	(2,701)		(12,445)
Deferred fees and origination costs	(4,326)		(8,255)
Total customer accounts receivable, net	412,388		814,218
Total assets	$	479,831	$	887,739
Liabilities:
Accrued expenses	$	3,441	$	5,517
Other liabilities	7,584		7,584

Long-term debt:
2017-B Class C Notes	16,168		59,655
2018-A Class A Notes	12,203		34,112
2018-A Class B Notes	7,359		20,572
2018-A Class C Notes	7,359		20,572
2019-A Class A Notes	36,151		76,241
2019-A Class B Notes	46,427		64,750
2019-A Class C Notes	44,821		62,510
2019-B Class A Notes	118,509		265,810
2019-B Class B Notes	85,540		85,540
2019-B Class C Notes	83,270		83,270
	457,807		773,032
Less: deferred debt issuance costs	(2,273)		(4,911)
Total debt	$	455,534	$	768,121
Total liabilities	$	466,559	$	781,222

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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