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Receivables and Allowance for Doubtful Accounts (Tables)
3 Months Ended
Mar. 31, 2024
Receivables and Allowance for Doubtful Accounts [Abstract]  
Receivables
Receivables consist of the following:
(in thousands)March 31, 2024December 31, 2023
Installment sales receivables$60,404 $62,901 
Trade and notes receivables(1)
62,509 62,358 
Total receivables122,913 125,259 
Less allowance for doubtful accounts(2)
(14,500)(14,254)
Total receivables, net of allowance for doubtful accounts$108,413 $111,005 
(1) Trade and notes receivables includes accrued revenue, adjusted for the probability of collection, related to our lease-to-own agreements of $35.5 million and $36.8 million at March 31, 2024 and December 31, 2023, respectively.
(2) Lease receivables are accrued on a net basis, adjusted for the probability of collection based on our assessment of historical collection rates, as described above. Therefore, we do not maintain a separate allowance for doubtful accounts related to our lease receivables.
Changes in Allowance for Doubtful Accounts
Changes in our allowance for doubtful accounts are as follows:
(in thousands)March 31, 2024
Beginning allowance for doubtful accounts$14,254 
Bad debt expense(1)
5,532 
Accounts written off, net of recoveries(5,286)
 Ending allowance for doubtful accounts$14,500 
(1) Uncollectible installment payments, franchisee obligations, and other corporate receivables are recognized in non-labor operating expenses in our condensed consolidated financial statements.