XML 34 R24.htm IDEA: XBRL DOCUMENT v3.25.0.1
Finance Receivables, Net (Tables)
 9 Months Ended
Jan. 31, 2025
Receivables [Abstract]  
Schedule of Components of Finance Receivables
The components of finance receivables are as follows:
(In thousands)January 31, 2025April 30, 2024
Gross contract amount$1,901,533 $1,844,392 
Less unearned finance charges(415,552)(409,004)
Principal balance1,485,981 1,435,388 
Less: estimated insurance receivables for APP claims(3,416)(3,026)
Less: allowance for APP claims(3,660)(3,171)
Less allowance for credit losses(333,338)(331,260)
Finance receivables, net1,145,567 1,097,931 
Loan origination costs645 660 
Finance receivables, net, including loan origination costs$1,146,212 $1,098,591 
Schedule of Changes in Finance Receivables
Changes in the finance receivables, net are as follows:
(In thousands)Nine Months Ended
January 31,
20252024
Balance at beginning of period$1,097,931 $1,062,760 
Finance receivable originations779,013 794,477 
Finance receivable collections(338,736)(324,703)
Provision for credit losses(281,597)(321,300)
Losses on claims for accident protection plan(25,013)(24,480)
Inventory acquired in repossession and accident protection plan claims(86,031)(101,643)
Balance at end of period$1,145,567 $1,085,111 
Schedule of Finance Receivables, Allowance for Credit Losses
Changes in the finance receivables allowance for credit losses are as follows:
(In thousands)Nine Months Ended
January 31,
20252024
Balance at beginning of period$331,260 $299,608 
Provision for credit losses281,597 321,300 
Charge-offs(367,554)(386,349)
Recovered collateral88,035 100,428 
Balance at end of period$333,338 $334,987 
Schedule of Finance Receivables, Current and Past Due
The following table presents the finance receivables that are current and past due as follows:
(Dollars in thousands)January 31, 2025April 30, 2024January 31, 2024
Principal
Balance		Percent of
Portfolio		Principal
Balance		Percent of
Portfolio		Principal
Balance		Percent of
Portfolio
Current$1,241,566 83.55 %$1,125,945 78.44 %$1,119,120 78.32 %
3 - 29 days past due189,842 12.78 %264,491 18.43 %262,200 18.35 %
30 - 60 days past due36,159 2.43 %34,042 2.37 %34,266 2.40 %
61 - 90 days past due11,372 0.77 %6,438 0.45 %7,258 0.51 %
> 90 days past due7,042 0.47 %4,472 0.31 %6,064 0.42 %
Total$1,485,981 100.00 %$1,435,388 100.00 %$1,428,908 100.00 %
Schedule of Finance Receivables, Credit Quality Indicators
Nine Months Ended
January 31,
20252024
Average total collected per active customer per month$563 $536 
Principal collected as a percent of average finance receivables23.1 %22.7 %
Average down-payment percentage5.2 %5.0 %
Average originating contract term (in months)
44.444.0
As of
January 31, 2025January 31, 2024
Portfolio weighted average contract term, including modifications (in months)48.347.6
Schedule of Finance Receivables, Year of Origination and Customer Score
The following table presents a summary of finance receivables by credit quality indicator, as of January 31, 2025, segregated by customer score and year of origination.
(Dollars in thousands)As of January 31, 2025
Prior to
2021		Total%
Fiscal Year of Origination
Customer Rating20252024202320222021
1-2$42,886 $22,136 $6,330 $1,189 $69 $50 $72,660 4.9 %
3-4$234,245 $171,447 $59,807 $13,628 $1,228 $279 $480,634 32.3 %
5-7$373,199 $322,146 $172,832 $56,862 $6,915 $733 $932,687 62.8 %
Total$650,330 $515,729 $238,969 $71,679 $8,212 $1,062 $1,485,981 100.0 %
Charge-offs$62,044 $188,736 $89,615 $24,130 $2,562 $467 $367,554 
The following table presents a summary of finance receivables by credit quality indicator, as of January 31, 2024, segregated by customer score.
(Dollars in thousands)As of January 31, 2024
Prior to
2020		Total%
Fiscal Year of Origination
Customer Rating20242023202220212020
1-2$32,854 $18,416 $5,298 $661 $124 $13 $57,366 4.0 %
3-4$236,351 $153,436 $50,070 $7,414 $450 $178 $447,899 31.4 %
5-6$394,600 $352,267 $147,133 $27,316 $1,797 $530 $923,643 64.6 %
Total$663,805 $524,119 $202,501 $35,391 $2,371 $721 $1,428,908 100.0 %
Charge-offs$87,675 $211,642 $72,511 $13,111 $957 $453 $386,349