Acquired Card Receivables (Tables)

9 Months Ended

Mar. 31, 2022

Acquired Card Receivables [Abstract]

Schedule of Acquired Card Receivables

Acquired card receivables consisted of the following as of the dates presented (in thousands):

	March 31,			June 30,
	2022			2021
Gross amount of acquired card receivables	$	242,911		$	148,833
Less: allowance for credit losses		(5,400	)		(1,740	)
Total	$	237,511		$	147,093

Summary of Acquired Card Receivables by Class

Below is a summary of the acquired card receivables by class (i.e., past due status) as of the dates presented (in thousands):

	March 31,		June 30,
	2022		2021
Current and less than 30 days past due	$	237,847	$	145,993
30 ~ 59 days past due		1,773		1,188
60 ~ 89 days past due		1,613		580
90 ~ 119 days past due		1,583		713
Over 119 days past due		95		359
Total	$	242,911	$	148,833

Summary of Change in Allowance for Credit Losses

Below is a summary of the changes in allowance for credit losses for the periods presented (in thousands):

	Three months ended March 31,			Nine months ended March 31,
	2022			2022
Balance, beginning	$	4,607		$	1,740
Initial allowance for credit losses on purchased    card receivables with credit deterioration		1			311
Provision for expected credit losses		6,085			15,310
Charge-off amounts		(5,774	)		(13,070	)
Recoveries collected		481			1,109
Balance, end of period	$	5,400		$	5,400

Summary of Fair Value of Consideration Received from Transfer of Card Receivables

Below is a summary of the fair value of consideration received from the transfer of card receivables accounted for as a sale during the periods presented (in thousands):

	Three months ended March 31,		Nine months ended March 31,
	2022		2022
Initial fair value of consideration received:
Cash	$	394,497	$	1,019,704
Beneficial interest derivative		1,100		3,387
Total	$	395,597	$	1,023,091

Summary Of Outstanding Transferred Card Receivables By Class Past Due Status [Table Text Block]

Below is a summary of outstanding transferred card receivables by class (i.e., past due status) that have not been charged-off and have not been recorded on the Company's condensed consolidated balance sheets, but with which the Company has a continuing involvement through its servicing agreements, as of the periods presented (in thousands):

	March 31,		June 30,
	2022		2021
Current and less than 30 days past due	$	60,772	$	27,763
30 ~ 59 days past due		397		240
60 ~ 89 days past due		802		165
90 ~ 119 days past due		437		301
Over 119 days past due		44		132
Total	$	62,452	$	28,601