Leased Merchandise, Net (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Leased Merchandise, Net

Leased merchandise, net consists of the following (in thousands):

	As of March 31,				As of December 31,
	2022		2021		2021
Leased merchandise (1)	$	193,023	$	—	$	156,280
Processing fees	(2,019)		—		(440)
Merchant partner discounts and premiums, net	1,192		—		310
Accumulated depreciation	(32,685)		—		(6,764)
Leased merchandise, before allowance for lease losses	159,511		—		149,386
Allowance for lease losses	(40,364)		—		(5,442)
Leased merchandise, net	$	119,147	$	—	$	143,944

(1)Acquired leased merchandise in the AFF Acquisition was recorded at fair value

Leased Merchandise, Allowance for Credit Loss

Changes in the allowance for lease losses were as follows (in thousands):

	Three Months Ended
	March 31,
	2022		2021
Balance at beginning of year	$	5,442	$	—
Provision for lease losses	39,820		—
Charge-offs	(6,020)		—
Recoveries	1,122		—
Balance at end of year	$	40,364	$	—