Receivables and Allowance for Doubtful Accounts (Tables)

3 Months Ended

Mar. 31, 2025

Receivables and Allowance for Doubtful Accounts [Abstract]

Receivables

Receivables consist of the following:

(in thousands)	March 31, 2025		December 31, 2024
Trade and notes receivables(1)	$	99,948	$	109,486
Installment sales receivables	58,090		60,242
Customer cash advances	48,646		—
Total receivables	206,684		169,728
Less allowance for doubtful accounts(2)	(21,858)		(13,290)
Total receivables, net of allowance for doubtful accounts	$	184,826	$	156,438

(1) Trade and notes receivables includes accrued revenue, adjusted for the probability of collection, related to our lease-to-own agreements of $47.9 million and $51.1 million at March 31, 2025 and December 31, 2024, respectively, including $44.7 million and $46.6 million related to lease-to-own agreements for Acima Holdings and $2.6 million and $3.6 million related to lease-to-own agreements for Rent-A-Center at March 31, 2025 and December 31, 2024, 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, 2025
Beginning allowance for doubtful accounts	$	13,290
Bad debt expense(1)	14,837
Accounts written off, net of recoveries	(6,269)
Ending allowance for doubtful accounts	$	21,858

(1) Uncollectible installment payments, franchisee obligations, customer cash advances and other corporate receivables are recognized in non-labor operating expenses in our condensed consolidated financial statements.