Acquired Card Receivables (Tables)

3 Months Ended

Sep. 30, 2022

Acquired Card Receivables [Abstract]

Schedule of Acquired Card Receivables

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

	September 30, 2022		June 30, 2022
Gross amount of acquired card receivables	$	365,282	$	261,806
Less: allowance for credit losses	(7,541)		(5,414)
Total	$	357,741	$	256,392

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):

	September 30, 2022		June 30, 2022
Current and less than 30 days past due	$	360,638	$	257,618
30 ~ 59 days past due	2,661		1,677
60 ~ 89 days past due	1,125		1,199
90 ~ 119 days past due	813		1,186
Over 119 days past due	45		126
Total	$	365,282	$	261,806

Summary of Change in Allowance for Credit Losses

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

	Three Months Ended September 30,
	2022		2021
Balance, beginning	$	5,414	$	1,740
Initial allowance for credit losses on purchased card receivables with credit deterioration	10		14
Provision for expected credit losses	6,583		4,035
Charge-off amounts	(5,033)		(2,276)
Recoveries collected	567		204
Balance, end of period	$	7,541	$	3,717

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 September 30,
	2022		2021
Initial fair value of consideration received:
Cash	$	316,477	$	258,501
Beneficial interest derivative	1,682		1,194
Total	$	318,159	$	259,695

Summary Of Outstanding Transferred Card Receivables By Class Past Due Status

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):

	September 30, 2022		June 30, 2022
Current and less than 30 days past due	$	340	$	56,162
30 ~ 59 days past due	537		292
60 ~ 89 days past due	634		375
90 ~ 119 days past due	547		422
Over 119 days past due	1		30
Total	$	2,059	$	57,281