ACQUISITIONS AND DIVESTITURE (Tables)

6 Months Ended

Jun. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The following table presents the preliminary purchase price allocation recorded in the Company’s Consolidated Balance Sheet as of the date of acquisition of Heights Finance (in thousands):

	Amounts acquired on December 27, 2021		Measurement period adjustments		Amounts acquired on December 27, 2021 (as adjusted)
Assets
Cash and cash equivalents	$	13,564	$	—	$	13,564
Restricted cash	33,630		—		33,630
Gross loans receivable(1)	471,630		(15,379)		456,251
Income tax receivable	3,526		—		3,526
Prepaid expenses and other	7,410		—		7,410
Property and equipment	4,748		—		4,748
Right-of-use assets	16,111		—		16,111
Intangibles, net	11,900		—		11,900
Other assets	98		—		98
Total assets	$	562,617	$	(15,379)	$	547,238
Liabilities
Accounts payable and accrued liabilities	$	19,186	$	—	$	19,186
Lease liabilities	16,315		—		16,315
Deferred tax liability	1,077		—		1,077
Accrued interest on debt	1,781		—		1,781
Debt	350,000		—		350,000
Total liabilities	$	388,359	$	—	$	388,359
Net assets acquired	$	174,258	$	(15,379)	$	158,879
Total consideration paid	428,115				428,115
Goodwill	$	253,857			$	269,236
(1) The gross contractual loans receivables as of December 27, 2021 were $485.4 million of which the Company estimates $29.2 million will not be collected.

Schedule of Assets and Liabilities Held-for-Sale

The table below summarizes the carrying amounts of the major assets and liabilities held-for-sale, as of June 30, 2022 (in thousands):

	June 30, 2022
Assets
Cash, cash equivalents, and restricted cash (includes restricted cash of consolidated VIEs of $6,412 as of June 30, 2022)	$	18,155
Loans receivable (1) (includes gross loans receivable and allowance for loans receivable of consolidated VIEs of $76,134 and $17,477 respectively as of June 30, 2022)	158,124
Prepaid expenses and other	16,433
Right-of-use assets	41,280
Goodwill	91,130
Other assets held-for-sale (2)	13,657
Total assets held-for-sale	$	338,779
Liabilities
Accounts payable and accrued liabilities	$	7,093
Right-of-use liability	44,516
Liability for losses on CSO lender-owned consumer loans	8,083
Debt includes debt and issuance costs of consolidated VIEs of $49,456 and $3,161 respectively as of June 30, 2022)	46,295
Other liabilities held-for-sale (3) (includes accrued interest and deferred revenue of consolidated VIEs of $700 and $172 respectively as of June 30, 2022)	5,150
Total liabilities held-for-sale	$	111,137
(1) The Company recorded a $29.9 million fair value less cost to sell adjustment to the loans receivable.
(2) Includes income tax receivable, property and equipment, intangibles, deferred tax assets, and other assets.
(3) Includes deferred revenue, income taxes payable, deferred tax liability, accrued interest on debt, and other long-term liabilities