0001808834-23-000106 | 10-Q | XBRL Viewer

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SEGMENTS - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 582,877	$ 625,821	$ 1,830,863	$ 1,985,729
Progressive Leasing
Segment Reporting Information [Line Items]
Revenues	564,183	606,585	1,776,104	1,930,843
Vive
Segment Reporting Information [Line Items]
Revenues	17,547	18,392	51,887	53,026
Other
Segment Reporting Information [Line Items]
Revenues	1,147	844	2,872	1,860
Lease Revenues and Fees
Segment Reporting Information [Line Items]
Revenues	564,183	606,585	1,776,104	1,930,843
Lease Revenues and Fees \| Progressive Leasing
Segment Reporting Information [Line Items]
Revenues	564,183	606,585	1,776,104	1,930,843
Lease Revenues and Fees \| Vive
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Lease Revenues and Fees \| Other
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Interest and Fees on Loans Receivable
Segment Reporting Information [Line Items]
Revenues	18,694	19,236	54,759	54,886
Interest and Fees on Loans Receivable \| Progressive Leasing
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Interest and Fees on Loans Receivable \| Vive
Segment Reporting Information [Line Items]
Revenues	17,547	18,392	51,887	53,026
Interest and Fees on Loans Receivable \| Other
Segment Reporting Information [Line Items]
Revenues	$ 1,147	$ 844	$ 2,872	$ 1,860

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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+ Details

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Loans Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable, net	$ 119,929	$ 130,966
Four Technologies, Inc.
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans receivable, net	$ 3,800	$ 5,300

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES:
Net Earnings	$ 120,263	$ 62,624
Adjustments to Reconcile Net Earnings to Cash Provided by Operating Activities:
Depreciation of Lease Merchandise	1,202,157	1,358,713
Other Depreciation and Amortization	23,876	25,446
Provisions for Accounts Receivable and Loan Losses	253,217	318,314
Stock-Based Compensation	19,081	13,930
Deferred Income Taxes	(32,337)	(5,748)
Impairment of Goodwill	0	10,151
Non-Cash Lease Expense	(2,065)	838
Other Changes, Net	(4,397)	(5,785)
Changes in Operating Assets and Liabilities:
Additions to Lease Merchandise	(1,195,051)	(1,369,388)
Book Value of Lease Merchandise Sold or Disposed	119,711	158,582
Accounts Receivable	(216,469)	(280,096)
Prepaid Expenses and Other Assets	2,304	(1,077)
Income Tax Receivable and Payable	(21)	3,411
Operating Lease Right-of-Use Assets and Liabilities	0	1,133
Accounts Payable and Accrued Expenses	8,735	3,220
Customer Deposits and Advance Payments	(6,463)	(11,118)
Cash Provided by Operating Activities	292,541	283,150
INVESTING ACTIVITIES:
Investments in Loans Receivable	(138,922)	(147,711)
Proceeds from Loans Receivable	127,079	115,226
Outflows on Purchases of Property and Equipment	(6,952)	(7,488)
Proceeds from Property and Equipment	30	18
Proceeds from Acquisitions of Businesses	0	6
Cash Used in Investing Activities	(18,765)	(39,949)
FINANCING ACTIVITIES:
Acquisition of Treasury Stock	(108,276)	(187,361)
Tender Offer Shares Repurchased and Retired	0	(274)
Issuance of Stock Under Stock Option Plans	695	663
Shares Withheld for Tax Payments	(3,260)	(2,902)
Debt Issuance Costs	(29)	(1,600)
Cash Used in Financing Activities	(110,870)	(191,474)
Increase in Cash and Cash Equivalents	162,906	51,727
Cash and Cash Equivalents at Beginning of Period	131,880	170,159
Cash and Cash Equivalents at End of Period	294,786	221,886
Net Cash Paid During the Period:
Interest	18,768	17,306
Income Taxes	$ 76,817	$ 31,087

LOANS RECEIVABLE - Credit Quality (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 5,321		$ 5,321
2022	0		0
2021 and Prior	0		0
Revolving Loans	154,797		154,797
Loans Receivable, Amortized Cost	160,118		160,118		$ 173,394
2023			1,019
2022			2,449
2021 and Prior			0
Revolving Loans			31,120
Notes Receivable Gross Charge-off	10,968	$ 11,612	34,588	$ 30,286
600 or Less
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0
2022	0		0
2021 and Prior	0		0
Revolving Loans	11,131		11,131
Loans Receivable, Amortized Cost	11,131		11,131
Between 600 and 700
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0
2022	0		0
2021 and Prior	0		0
Revolving Loans	124,622		124,622
Loans Receivable, Amortized Cost	124,622		124,622
700 or Greater
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0		0
2022	0		0
2021 and Prior	0		0
Revolving Loans	19,044		19,044
Loans Receivable, Amortized Cost	19,044		19,044
No Score Identified
Financing Receivable, Credit Quality Indicator [Line Items]
2023	5,321		5,321
2022	0		0
2021 and Prior	0		0
Revolving Loans	0		0
Loans Receivable, Amortized Cost	$ 5,321		$ 5,321

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business

PROG Holdings, Inc. ("we," "our," "us," the "Company," or "PROG Holdings") is a financial technology holding company that provides transparent and competitive payment options to consumers. PROG Holdings has two reportable segments: (i) Progressive Leasing, an in-store, app-based, and e-commerce point-of-sale lease-to-own solutions provider; and (ii) Vive Financial ("Vive"), an omnichannel provider of second-look revolving credit products.

Our Progressive Leasing segment provides consumers with lease-purchase solutions through its point-of-sale partner locations and e-commerce website partners in the United States and Puerto Rico (collectively, "POS partners"). It does so by purchasing merchandise from the POS partners desired by customers and, in turn, leasing that merchandise to the customers through a cancellable lease-to-own transaction. Progressive Leasing has no stores of its own, but rather offers lease-purchase solutions to the customers of traditional and e-commerce retailers.

Our Vive segment primarily serves customers that may not qualify for traditional prime lending offers who desire to purchase goods and services from participating merchants. Vive offers customized programs, with services that include revolving loans through private label and Vive-branded credit cards. Vive's current network of POS partner locations and e-commerce websites includes furniture, mattresses, home exercise equipment, and home improvement retailers, as well as medical and dental service providers.

PROG Holdings’ ecosystem of financial technology offerings also includes Four Technologies, Inc. ("Four"), an innovative Buy Now, Pay Later ("BNPL") company that allows shoppers to pay for merchandise through four interest-free installments. Shoppers use Four to purchase furniture, clothing, electronics, health and beauty products, footwear, jewelry, and other consumer goods from retailers across the United States. Four is not a reportable segment for the three and nine month periods ended September 30, 2023 as its financial results are not material to the Company's condensed consolidated financial results.

Basis of Presentation

The preparation of the Company's condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information requires management to make estimates and assumptions that affect the amounts reported in these condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Management does not believe these estimates or assumptions will change significantly in the future absent unidentified and unforeseen events, such as the possible direct or indirect impacts associated with the rate of inflation, increasing unemployment rates, the resumption of student loan repayments, and/or a prolonged recession in the United States.

The accompanying unaudited condensed consolidated financial statements do not include all information required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for a fair presentation have been included in the accompanying unaudited condensed consolidated financial statements. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 (the "2022 Annual Report") filed with the United States Securities and Exchange Commission on February 22, 2023. The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of operating results for the full year.

Principles of Consolidation

The condensed consolidated financial statements include the accounts of PROG Holdings, Inc. and its subsidiaries, each of which is wholly-owned. Intercompany balances and transactions between consolidated entities have been eliminated.

Accounting Policies and Estimates

See Note 1 to the consolidated financial statements in the 2022 Annual Report for an expanded discussion of accounting policies and estimates.

Earnings Per Share

Earnings per share is computed by dividing net earnings by the weighted average number of shares of common stock outstanding during the period. The computation of earnings per share assuming dilution includes the dilutive effect of stock options, restricted stock units ("RSUs"), restricted stock awards ("RSAs"), performance share units ("PSUs") and awards issuable under the Company's employee stock purchase plan ("ESPP") (collectively, "share-based awards") as determined under the treasury stock method. The following table shows the calculation of dilutive share-based awards:


	Three Months Ended September 30,		Nine Months Ended September 30,
(Shares In Thousands)	2023	2022	2023	2022
Weighted Average Shares Outstanding	45,515	50,461	46,606	52,896
Dilutive Effect of Share-Based Awards	618	86	442	157
Weighted Average Shares Outstanding Assuming Dilution	46,133	50,547	47,048	53,053

Approximately 614,000 and 880,000 weighted-average share-based awards were excluded from the computation of earnings per share assuming dilution during the three and nine months ended September 30, 2023, respectively, as the awards would have been anti-dilutive for the periods presented.

Approximately 1,622,000 and 1,418,000 weighted-average share-based awards were excluded from the computation of earnings per share assuming dilution during the three and nine months ended September 30, 2022, respectively, as the awards would have been anti-dilutive for the periods presented.

Revenue Recognition

Lease Revenues and Fees

Progressive Leasing provides merchandise, consisting primarily of furniture, appliances, electronics, jewelry, mobile phones and accessories, mattresses, automobile electronics and accessories, and a variety of other products, to its customers for lease under terms agreed to by the customer. Progressive Leasing offers customers of traditional and e-commerce retailers a lease-purchase solution through leases with payment terms that can generally be renewed up to 12 months. Progressive Leasing does not require deposits upon inception of customer agreements. The customer has the right to acquire ownership either through early buyout options or through payment of all required lease payments. The agreements are cancellable at any time by either party without penalty.

All of Progressive Leasing's customer agreements are considered operating leases. The Company maintains ownership of the lease merchandise until all payment obligations are satisfied under the lease ownership agreements. Initial lease payments made by the customer upon lease execution are recognized as deferred revenue and are amortized as lease revenue over the estimated lease term on a straight-line basis. Initial lease payments and other payments collected in advance of being due or earned are recognized as deferred revenue within customer deposits and advance payments in the accompanying condensed consolidated balance sheets. All other customer lease billings are earned prior to the lease payment due date and are recorded net of related sales taxes as earned. Payment due date terms include weekly, bi-weekly, semi-monthly and monthly frequencies. Revenue recorded prior to the payment due date results in unbilled receivables recognized in accounts receivable, net of allowances, in the accompanying condensed consolidated balance sheets. Lease revenues are recorded net of a provision for uncollectible renewal payments.

Initial direct costs related to lease purchase agreements are capitalized as incurred and amortized as operating expense over the estimated lease term. The capitalized costs have been classified within prepaid expenses and other assets in the accompanying condensed consolidated balance sheets.

Interest and Fees on Loans Receivable

Interest and fees on loans receivable is primarily generated from our Vive segment. Vive extends or declines credit to an applicant through its bank partners based upon the applicant's credit rating and other factors. Qualifying applicants are approved for a specified maximum revolving credit card line to finance their initial purchase and to use in subsequent purchases at the merchant or other participating merchants for an initial 24-month period, which Vive may renew if the cardholder remains in good standing.

Vive acquires the loan receivable from its third-party bank partners at a discount from the face value of the loan. The discount is comprised of a merchant fee discount and a promotional fee discount, if applicable.

The merchant fee discount represents a pre-negotiated, nonrefundable discount that generally ranges from 3% to 25% of the loan face value. The discount is designed to cover the risk of loss related to the portfolio of cardholder charges and Vive's direct origination costs. The merchant fee discount and origination costs are presented net in the condensed consolidated balance sheets in loans receivable. Cardholders generally have an initial 24-month period that the card is active. The merchant fee discount, net of the origination costs, is amortized on a net basis and is recorded as interest and fees on loans receivable in the condensed consolidated statements of earnings on a straight-line basis over the initial 24-month period. If the loan receivable is paid off or charged off during the 24-month period, the remaining net merchant fee discount is recognized as interest and fees on loans receivable at that time.

The discount from the face value of the loan on the acquisition of the loan receivable from the merchant through the third-party bank partners may also include a promotional fee discount, which generally ranges from 1% to 8%. The promotional fee discount is intended to compensate the holder of the loan receivable (i.e., Vive) for deferred or reduced interest rates that are offered to the cardholder for a specified period on the outstanding loan balance (generally for six, 12 or 18 months). The promotional fee discount is amortized as interest and fees on loans receivable in the condensed consolidated statements of earnings on a straight-line basis over the promotional interest period (i.e., over six, 12 or 18 months, depending on the promotion). If the loan receivable is paid off or charged off prior to the expiration of the promotional period, the remaining promotional fee discount is recognized as interest and fees on loans receivable at that time. The unamortized promotional fee discount is presented net within loans receivable in the condensed consolidated balance sheets.

The customer is typically required to make monthly minimum payments of at least 3.5% of the outstanding loan balance, which includes outstanding interest. Fixed and variable interest rates, typically 27% to 35.99%, are compounded daily for cards that do not qualify for deferred or reduced interest promotional periods. Interest income, which is recognized based upon the amount of the loans outstanding, is recognized as interest and fees on loans receivable when earned if collectibility is reasonably assured. For credit cards that provide deferred interest, if the balance is not paid off during the promotional period or if the cardholder defaults, interest is billed to the customers at standard rates and the cumulative amount owed is charged to the cardholder account in the month that the promotional period expires. The Company recognizes interest revenue during the promotional period based on its historical experience related to cardholders that fail to pay off balances during the promotional period if collectibility is reasonably assured.

Annual fees are charged to cardholders at the commencement of the loan and on each subsequent anniversary date. Annual fees are deferred and recognized into revenue on a straight-line basis over a one-year period. Under the provisions of the credit card agreements, Vive also may assess fees for missed or late payments, which are recognized as revenue in the billing period in which they are assessed if collectibility is reasonably assured. Annual fees and other fees are recognized as interest and fees on loans receivable in the condensed consolidated statements of earnings.

Accounts Receivable

Accounts receivable consist primarily of receivables due from customers of Progressive Leasing and amounted to $55.8 million and $64.5 million, net of allowances, as of September 30, 2023 and December 31, 2022, respectively.

The Company maintains an accounts receivable allowance, which primarily relates to its Progressive Leasing operations and, to a lesser extent, receivables from Vive's POS partners. The Company’s policy is to record an allowance for uncollectible renewal payments based on historical collection experience. Other qualitative factors, such as current and forecasted business trends, are considered in estimating the allowance. Given the significant uncertainty regarding the impacts of inflation, higher interest rates, the resumption of student loan repayments, and/or unemployment rates on our business, a high level of estimation was involved in determining the allowance as of September 30, 2023. Therefore, actual future accounts receivable write-offs may differ materially from the allowance. If the significant increase in inflation that began during 2022 continues in future periods, or if the current level of inflation does not decrease, such developments may further adversely impact certain customers' ability to continue to make payments to the Company. The provision for uncollectible renewal payments is recorded as a reduction of lease revenues and fees within the condensed consolidated statements of earnings. For customer lease agreements that are past due, the Company's policy is to write off lease receivables after 120 days.

Vive's allowance for uncollectible merchant accounts receivable, which primarily relates to cardholder returns and refunds, and is an immaterial amount related to Vive's bad debt expense, is recorded within operating expenses in the condensed consolidated statements of earnings. See below for a discussion of Vive's loans receivable and related allowance for loan losses.

The following table shows the components of the accounts receivable allowance:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In Thousands)	2023		2022		2023		2022
Beginning Balance	$	65,544	$	81,898	$	69,264	$	71,233
Net Book Value of Accounts Written Off	(87,622)		(109,203)		(256,820)		(302,945)
Recoveries	8,654		8,736		30,400		27,623
Accounts Receivable Provision	81,459		104,303		225,191		289,823
Ending Balance	$	68,035	$	85,734	$	68,035	$	85,734

Lease Merchandise

Progressive Leasing's merchandise consists primarily of furniture, appliances, electronics, jewelry, mobile phones and accessories, mattresses, automobile electronics and accessories, and a variety of other products, and is recorded at the lower of depreciated cost or net realizable value. Progressive Leasing depreciates lease merchandise to a 0% salvage value generally over 12 months. Depreciation is accelerated upon early buyout. All of Progressive Leasing's merchandise, net of accumulated depreciation and allowances, represents on-lease merchandise.

The Company records a provision for write-offs using the allowance method. The allowance method for lease merchandise write-offs estimates the merchandise losses incurred but not yet identified by management as of the end of the accounting period based on historical write-off experience. Other qualitative factors, such as current and forecasted customer payment trends, are considered in estimating the allowance. Given the significant uncertainty regarding the impacts of inflation, higher interest rates, the resumption of student loan repayments, and/or unemployment rates on our business, a high level of estimation was involved in determining the allowance as of September 30, 2023. Actual lease merchandise write-offs may differ materially from the allowance as of September 30, 2023. If the elevated rate of inflation that began during 2022 continues in future periods, or if the current level of inflation does not decrease, such developments may further adversely impact our customers' ability to continue to make payments to the Company. For customer lease agreements that are past due, the Company's policy is to write off lease merchandise after 120 days.

The following table shows the components of the allowance for lease merchandise write-offs, which is included within lease merchandise, net in the condensed consolidated balance sheets:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In Thousands)	2023		2022		2023		2022
Beginning Balance	$	49,479	$	70,579	$	47,118	$	54,367
Net Book Value of Merchandise Written off	(42,138)		(56,810)		(122,721)		(157,376)
Recoveries	1,788		2,329		5,403		6,989
Provision for Write-offs	36,966		43,537		116,295		155,655
Ending Balance	$	46,095	$	59,635	$	46,095	$	59,635

Vendor Incentives and Rebates Provided to POS Partners

Progressive Leasing has agreements with some of its POS partners that require additional consideration to be paid to the POS partner, including payments for exclusivity, rebates based on lease volume originations generated through the POS partners, and payments to the POS partners for marketing or other development initiatives to promote additional lease originations through these POS partners. Payments made to POS partners as consideration for them providing exclusivity to Progressive Leasing for lease-to-own transactions with customers of the POS partner are expensed on a straight-line basis over the exclusivity term. Rebates are accrued over the period the POS partner is earning the rebate, which is typically based on quarterly or annual lease origination volumes. Payments made to POS partners for marketing or development initiatives are expensed on a straight-line basis over the period the POS partner is earning the funds or the specified marketing term. Progressive Leasing expensed $6.3 million and $20.7 million for such additional consideration to POS partners, during the three and nine months ended September 30, 2023, respectively, compared to $6.2 million and $19.0 million during the three and nine

months ended September 30, 2022. Expenses related to additional consideration provided to POS partners are classified within operating expenses in the condensed consolidated statements of earnings.

Loans Receivable, Net

Gross loans receivable primarily represents the principal balances of credit card charges at Vive's participating merchants that remain due from cardholders, plus unpaid interest and fees due from cardholders. The allowance and unamortized fees represent uncollectible amounts; merchant fee discounts, net of capitalized origination costs; promotional fee discounts; and deferred annual card fees. Loans receivable, net, also includes $3.8 million and $5.3 million of outstanding receivables from customers of Four as of September 30, 2023 and December 31, 2022, respectively.

Economic conditions and loan performance trends are closely monitored to manage and evaluate exposure to credit risk. Trends in delinquency rates are an indicator of credit risk within the loans receivable portfolio, including the migration of loans between delinquency categories over time. Charge-off rates represent another indicator of the potential for future credit losses. The risk in the loans receivable portfolio is correlated with broad economic trends, such as current and projected unemployment rates, stock market volatility, and changes in medium and long-term risk-free rates, which are considered in determining the allowance for loan losses and can have a material effect on credit performance.

Expected lifetime losses on loans receivable are recognized upon loan acquisition, which requires the Company to make its best estimate of probable lifetime losses at the time of acquisition. Vive's credit card loans do not have contractually stated maturity dates, which requires the Company to estimate an average life of loan by analyzing historical payment trends to determine an expected remaining life of the loan balance. The Company segments its loans receivable portfolio into homogenous pools by Fair Isaac and Company ("FICO") score and by delinquency status and evaluates loans receivable collectively for impairment when similar risk characteristics exist.

The Company calculates Vive's allowance for loan losses based on internal historical loss information and incorporates observable and forecasted macroeconomic data over a twelve-month reasonable and supportable forecast period. Incorporating macroeconomic data could have a material impact on the measurement of the allowance to the extent that forecasted data changes significantly, such as higher forecasted inflation and unemployment rates. Subsequent to the twelve-month reasonable and supportable forecast period described above, the Company reverts to using historical loss information on a straight-line basis over a six-month period. For the remaining life of the portfolio, the Company utilizes historical loss information. The Company may also consider other qualitative factors in estimating the allowance, as necessary. For the purposes of determining the allowance as of September 30, 2023, management considered qualitative factors such as the impact of the rapid increase in the rate of inflation that began during 2022 and remained high through early 2023, the more recent declines in inflation rates, as well as the beneficial impact of government stimulus measures to the Company's customer base in 2021. The allowance for loan losses is maintained at a level considered appropriate to cover expected future losses of principal, interest and fees on active loans in the loans receivable portfolio. The appropriateness of the allowance is evaluated at each period end. To the extent that actual results differ from estimates of uncollectible loans receivable, due to the volatility of inflation, forecasted higher unemployment rates, housing costs, and/or the resumption of student loan repayments in October 2023, the Company's results of operations and liquidity may be materially affected.

Vive's delinquent loans receivable includes those that are 30 days or more past due based on their contractual billing dates. Vive's loans receivable are placed on nonaccrual status when they are greater than 90 days past due or upon notification of cardholder bankruptcy, death or fraud. The Company discontinues accruing interest and fees and amortizing merchant fee discounts and promotional fee discounts for Vive's loans receivable in nonaccrual status. Loans receivable are removed from nonaccrual status when cardholder payments resume, the loan becomes 90 days or less past due and collection of the remaining amounts outstanding is deemed probable. Payments received on nonaccrual loans are allocated according to the same payment hierarchy methodology applied to loans that are accruing interest. Loans receivable are charged off no later than the end of the following month after the billing cycle in which the loans receivable become 120 days past due.

Vive extends or declines credit to an applicant through its bank partners based upon the applicant's credit rating and other factors. Below is a summary of the credit quality of the Company's loan portfolio as of September 30, 2023 and December 31, 2022 by FICO score as determined at the time of loan origination:


FICO Score Category	September 30, 2023		December 31, 2022
600 or Less	6.8	%	6.9	%
Between 600 and 700	77.7	%	75.4	%
700 or Greater	12.2	%	13.4	%
No Score Identified	3.3	%	4.3	%

Prepaid Expenses and Other Assets

Prepaid expenses and other assets consist of the following:


(In Thousands)	September 30, 2023		December 31, 2022
Prepaid Expenses	$	21,370	$	18,845
Prepaid Lease Merchandise	5,955		10,134
Prepaid Software Expenses	7,006		7,022
Unamortized Initial Direct Costs on Lease Agreement Originations	5,312		6,016
Other Assets	6,926		6,464
Prepaid Expenses and Other Assets	$	46,569	$	48,481

The Company incurs costs to implement cloud computing arrangements ("CCA") that are hosted by third-party vendors. Implementation costs associated with CCA are capitalized when incurred during the application development phase and are recorded within prepaid software expenses above. Amortization is calculated on a straight-line basis over the contractual term of the arrangement and is included within computer software expense as a component of operating expenses in the condensed consolidated statements of earnings.

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consist of the following:


(In Thousands)	September 30, 2023		December 31, 2022
Accounts Payable	$	16,547	$	14,386
Accrued Salaries and Benefits	22,858		21,366
Accrued Sales and Personal Property Taxes	12,311		13,517
Income Taxes Payable	3,166		1,287
Uncertain Tax Positions1	54,030		51,110
Accrued Vendor Rebates	6,261		9,320
Other Accrued Expenses and Liabilities	31,362		24,039
Accounts Payable and Accrued Expenses	$	146,535	$	135,025

1 The uncertain tax positions as of September 30, 2023 and December 31, 2022 are primarily related to the Company’s tax treatment of the $175.0 million settlement payment made in 2020 to the FTC as discussed in Note 10 and Note 11 to the consolidated financial statements in the 2022 Annual Report.

Debt

On November 24, 2020, the Company entered into a credit agreement with a consortium of lenders providing for a $350.0 million senior revolving credit facility (the "Revolving Facility"), under which revolving borrowings became available at the completion of the separation and distribution transaction through which the Company's historical Aaron's Business segment was spun-off into a separate company, and under which all borrowings and commitments will mature or terminate on November 24, 2025. The Company expects that the Revolving Facility will be used to provide for working capital and capital expenditures, to finance future permitted acquisitions, and for other general corporate purposes. If the Company's total net debt to EBITDA ratio as defined by the Revolving Facility exceeds 1.25, the Revolving Facility becomes fully secured for the remaining duration of the Revolving Facility term. As of June 30, 2022, the Company exceeded the 1.25 total net debt to EBITDA ratio and the Revolving Facility became fully secured. The Company had no outstanding borrowings and $350.0 million total available credit under the Revolving Facility as of September 30, 2023 and December 31, 2022.

On November 26, 2021, the Company entered into an indenture in connection with an offering of $600 million aggregate principal amount of its 6.00% senior unsecured notes due 2029 (the "Senior Notes"). The Senior Notes were issued at 100% of their par value. The Senior Notes are general unsecured obligations of the Company and are guaranteed by certain of the Company’s existing and future domestic subsidiaries.

The net proceeds from the Senior Notes were used to fund the purchase price, and related fees and expenses, of the Company’s tender offer to purchase $425 million of the Company’s common stock as discussed in Note 12 to the consolidated financial statements in the 2022 Annual Report. Any remaining proceeds were intended for future share repurchases or, to the extent the Company determines not to repurchase additional shares, for general corporate purposes.

At September 30, 2023, the Company was in compliance with all covenants related to its outstanding debt. See Note 9 to the consolidated financial statements in the 2022 Annual Report for further information regarding the Company's indebtedness.

Goodwill

Goodwill represents the excess of the purchase price paid over the fair value of the identifiable net tangible and intangible assets acquired in connection with business acquisitions. Progressive Leasing and Four are the only reporting units with goodwill as of September 30, 2023. Impairment occurs when the reporting unit's carrying value exceeds its fair value. The Company’s goodwill is not amortized but is subject to an impairment test at the reporting unit level annually as of October 1 and more frequently if events or circumstances indicate that an impairment may have occurred. Factors which could necessitate an interim impairment assessment include a sustained decline in the Company’s stock price, prolonged negative industry or economic trends and significant underperformance relative to historical results, projected future operating results, or the Company failing to successfully execute on one or more elements of Progressive Leasing and/or Four's strategic plans.

As of September 30, 2022, the Company determined the Four goodwill was partially impaired and recorded an impairment of goodwill of $10.2 million during the third quarter of 2022. The Company engaged the assistance of a third-party valuation firm to perform the interim goodwill impairment test for the Four reporting unit. This included an assessment of the Four reporting unit's fair value relative to the carrying value that was derived using a market approach. The market approach, which includes the guideline public company method, utilized pricing multiples derived from an analysis of other publicly traded companies that operate in the Buy Now, Pay Later industry. We believe the comparable companies we evaluated as marketplace participants served as an appropriate reference when calculating fair value because those companies have similar risks, participate in similar markets, provide similar products and services for their customers and compete with Four directly. As of September 30, 2023, Four's goodwill balance was $7.3 million. Additional goodwill impairment charges may occur in future periods if the Company fails to execute on one or more elements of Four's strategic plan, Four's actual or projected results are unfavorable compared to the current forecasted operating results, and/or there are further declines in the Buy Now, Pay Later peer market multiples.

The Company completed its annual goodwill impairment test for Progressive Leasing as of October 1, 2022 and concluded that no impairment had occurred. The Company determined that there were no events or circumstances that occurred during the nine months ended September 30, 2023 that would more likely than not reduce the fair value of Progressive Leasing or Four below their carrying amounts.

Shareholders' Equity

Changes in shareholders' equity for the nine months ended September 30, 2023 and 2022 are as follows:


	Treasury Stock			Common Stock			Additional Paid-in Capital		Retained Earnings		Total Shareholders’ Equity
(In Thousands)	Shares	Amount		Shares	Amount
Balance, December 31, 2022	(34,044)	$	(963,627)	82,079	$	41,039	$	338,814	$	1,154,235	$	570,461
Stock-Based Compensation	—	—		—	—		5,460		—		5,460
Reissued Shares	166	4,778		—	—		(7,171)		—		(2,393)
Repurchased Shares	(1,459)	(36,769)		—	—		—		—		(36,769)
Net Earnings	—	—		—	—		—		48,033		48,033
Balance, March 31, 2023	(35,337)	$	(995,618)	82,079	$	41,039	$	337,103	$	1,202,268	$	584,792
Stock-Based Compensation	—	—		—	—		6,886		—		6,886
Reissued Shares	52	1,439		—	—		(973)		—		466
Repurchased Shares	(1,083)	(35,713)		—	—		—		—		(35,713)
Net Earnings	—	—		—	—		—		37,218		37,218
Balance, June 30, 2023	(36,368)	$	(1,029,892)	82,079	$	41,039	$	343,016	$	1,239,486	$	593,649
Stock-Based Compensation	—	—		—	—		6,889		—		6,889
Reissued Shares	57	1,462		—	—		(2,099)		—		(637)
Repurchased Shares	(1,045)	(36,776)		—	—		—		—		(36,776)
Net Earnings	—	—		—	—		—		35,012		35,012
Balance, September 30, 2023	(37,356)	$	(1,065,206)	82,079	$	41,039	$	347,806	$	1,274,498	$	598,137


	Treasury Stock			Common Stock			Additional Paid-in Capital		Retained Earnings		Total Shareholders’ Equity
(In Thousands)	Shares	Amount		Shares	Amount
Balance, December 31, 2021	(25,638)	$	(749,401)	82,079	$	41,039	$	332,244	$	1,055,526	$	679,408
Stock-Based Compensation	—	—		—	—		6,587		—		6,587
Reissued Shares	177	5,260		—	—		(7,776)		—		(2,516)
Repurchased Shares	(2,200)	(78,080)		—	—		—		—		(78,080)
Net Earnings	—	—		—	—		—		27,135		27,135
Balance, March 31, 2022	(27,661)	$	(822,221)	82,079	$	41,039	$	331,055	$	1,082,661	$	632,534
Stock-Based Compensation	—	—		—	—		2,484		—		2,484
Reissued Shares	47	1,380		—	—		(716)		—		664
Repurchased Shares	(3,899)	(98,395)		—	—		—		—		(98,395)
Net Earnings	—	—		—	—		—		19,484		19,484
Balance, June 30, 2022	(31,513)	$	(919,236)	82,079	$	41,039	$	332,823	$	1,102,145	$	556,771
Stock-Based Compensation	—	—		—	—		4,960		—		4,960
Reissued Shares	56	1,755		—	—		(2,141)		—		(386)
Repurchased Shares	(589)	(10,886)		—	—		—		—		(10,886)
Net Earnings	—	—		—	—		—		16,005		16,005
Balance, September 30, 2022	(32,046)	$	(928,367)	82,079	$	41,039	$	335,642	$	1,118,150	$	566,464

Stock-Based Compensation

During the nine months ended September 30, 2023, the Company issued 551,792 restricted stock units, 207,838 stock options, and 357,575 performance share units to certain employees, which vest over one to three-year periods for certain units and upon the achievement of specified performance conditions for other units. The weighted average fair value of the restricted stock and performance share awards was $25.58, which was based on the fair market value of the Company’s common stock on the dates of grant. The weighted average fair value of the stock option awards was $11.66, which was based on a grant date value using a Black-Scholes-Merton option pricing model. The Company will recognize the grant date fair value of the restricted stock units and stock options as stock-based compensation expense over the requisite service period of one to three years. The Company will recognize the grant date fair value of the performance units as stock-based compensation expense over the estimated vesting period based on the Company's projected assessment of the performance conditions that are probable of being achieved in accordance with ASC 718, Stock-based Compensation.

Cybersecurity Incident

As previously disclosed by the Company on September 21, 2023, Progressive Leasing recently experienced a cybersecurity incident affecting certain data and IT systems of Progressive Leasing. Promptly after detecting the incident, the Company engaged third-party cybersecurity experts and took immediate steps to respond to, remediate and investigate the incident. Law enforcement was also notified. While the Company's investigation into the incident, including identification of the data involved, remains ongoing, at this time, we believe the incident has been contained and there is no ongoing operational impact on our ability to provide our products and services. We maintain insurance, including coverage for cyber-attacks, subject to certain deductibles and policy limitations, in an amount that we believe appropriate. See Item 1A. Risk Factors for a discussion regarding our cybersecurity risks.

During the three and nine months ended September 30, 2023, the Company incurred $1.8 million for actual and anticipated costs related to the cybersecurity incident. These costs related primarily to third-party legal and consulting services, and credit monitoring services for Progressive Leasing's customers and employees that were impacted, and are included within professional services expense as a component of operating expenses in the condensed consolidated statements of earnings. The full scope of the costs and related impacts of this incident, including the extent to which these costs will be offset by the Company’s cybersecurity insurance, has not been determined. Although the Company is unable to predict the full impact of this incident, the Company does not currently expect that it will have a material effect on the Company’s financial condition and results of operations.

Fair Value Measurement

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value:

Level 1—Valuations based on quoted prices for identical assets and liabilities in active markets.

Level 2—Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

Level 3—Valuations based on unobservable inputs reflecting the Company's own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

The Company measures a liability related to its non-qualified deferred compensation plan, which represents benefits accrued for plan participants and is valued at the quoted market prices of the participants' investment election, at fair value on a recurring basis. The Company maintains certain financial assets and liabilities that are not measured at fair value but for which fair value is disclosed.

The fair values of the Company's other current financial assets and liabilities, including cash and cash equivalents, accounts receivable and accounts payable, approximate their carrying values due to their short-term nature. The fair value of any revolving credit borrowings also approximate their carrying amounts.

Recent Accounting Pronouncements

There have been no recent accounting pronouncements issued which are expected to have a material effect on the Company's financial statements. Management continues to monitor and review recently issued accounting guidance upon issuance.

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
REVENUES:
Revenues	$ 582,877	$ 625,821	$ 1,830,863	$ 1,985,729
COSTS AND EXPENSES:
Depreciation of Lease Merchandise	381,844	422,589	1,202,157	1,358,713
Provision for Lease Merchandise Write-offs	36,966	43,537	116,295	155,655
Operating Expenses	109,183	112,733	322,152	337,997
Impairment of Goodwill	0	10,151	0	10,151
COSTS AND EXPENSES	527,993	589,010	1,640,604	1,862,516
OPERATING PROFIT	54,884	36,811	190,259	123,213
Interest Expense, Net	(6,775)	(9,463)	(22,549)	(28,700)
EARNINGS BEFORE INCOME TAX EXPENSE	48,109	27,348	167,710	94,513
INCOME TAX EXPENSE	13,097	11,343	47,447	31,889
NET EARNINGS	$ 35,012	$ 16,005	$ 120,263	$ 62,624
EARNINGS PER SHARE
Basic (in dollars per share)	$ 0.77	$ 0.32	$ 2.58	$ 1.18
Assuming Dilution (in dollars per share)	$ 0.76	$ 0.32	$ 2.56	$ 1.18
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic (in shares)	45,515	50,461	46,606	52,896
Assuming Dilution (in shares)	46,133	50,547	47,048	53,053
Lease Revenues and Fees
REVENUES:
Revenues	$ 564,183	$ 606,585	$ 1,776,104	$ 1,930,843
Interest and Fees on Loans Receivable
REVENUES:
Revenues	$ 18,694	$ 19,236	$ 54,759	$ 54,886

FAIR VALUE MEASUREMENT

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENT

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes financial liabilities measured at fair value on a recurring basis:


(In Thousands)	September 30, 2023						December 31, 2022
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Deferred Compensation Liability	$	—	$	2,229	$	—	$	—	$	2,185	$	—

The Company maintains the PROG Holdings, Inc. Deferred Compensation Plan, which is an unfunded, nonqualified deferred compensation plan for a select group of management, highly compensated employees and non-employee directors. The liability is recorded in accounts payable and accrued expenses in the condensed consolidated balance sheets. The liability represents benefits accrued for plan participants and is valued at the quoted market prices of the participants’ investment elections, which consist of equity and debt "mirror" funds. As such, the Company has classified the deferred compensation liability as a Level 2 liability.

Financial Assets and Liabilities Not Measured at Fair Value for Which Fair Value is Disclosed

Vive's loans receivable are measured at amortized cost, net of an allowance for loan losses and unamortized fees in the condensed consolidated balance sheets. In estimating fair value for Vive's loans receivable, the Company utilized a discounted cash flow methodology. The Company used various unobservable inputs reflecting its own assumptions, such as contractual future principal and interest cash flows, future loss rates, and discount rates (which consider current interest rates and are adjusted for credit risk, among other factors).

Four's loans receivable, net of an allowance for loan losses and unamortized fees, are included within loans receivable, net in the condensed consolidated balance sheets and approximated fair value based on a discounted cash flow methodology.

On November 26, 2021, the Company entered into an indenture in connection with its offering of $600 million aggregate principal amount of its Senior Notes due in 2029. The Senior Notes are carried at amortized cost in the condensed consolidated balance sheets and are measured at fair value for disclosure purposes. The fair value of the Senior Notes was estimated based on quoted market prices in less active markets and has been classified as Level 2 in the fair value hierarchy.

The following table summarizes the fair value of the Company's debt and the loans receivable held by Vive and Four:


(In Thousands)	September 30, 2023						December 31, 2022
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Senior Notes	$	—	$	524,700	$	—	$	—	$	481,320	$	—
Loans Receivable, Net	$	—	$	—	$	145,270	$	—	$	—	$	165,690

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

RESTRUCTURING EXPENSES (Tables)

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The following tables summarize restructuring charges recorded within operating expenses in the condensed consolidated statements of earnings for the three and nine months ended September 30, 2023:


	Three Months Ended September 30, 2023								Three Months Ended September 30, 2022
(In Thousands)	Progressive Leasing		Vive		Other		Total		Progressive Leasing		Vive		Other		Total
Severance	$	260	$	—	$	—	$	260	$	2,076	$	—	$	—	$	2,076
Right-of-Use Asset Impairment	—		—		—		—		2,285		—		—		2,285
Property and Equipment Impairment	—		—		—		—		309		—		—		309
Other Restructuring Activities	(22)		—		—		(22)		—		3		—		3
Total Restructuring Expenses	$	238	$	—	$	—	$	238	$	4,670	$	3	$	—	$	4,673


	Nine Months Ended September 30, 2023								Nine Months Ended September 30, 2022
(In Thousands)	Progressive Leasing		Vive		Other		Total		Progressive Leasing		Vive		Other		Total
Severance	$	1,983	$	—	$	—	$	1,983	$	5,611	$	—	$	—	$	5,611
Right-of-Use Asset Impairment	—		—		—		—		2,285		655		—		2,940
Property and Equipment Impairment	—		—		—		—		309		—		—		309
Other Restructuring Activities	(25)		—		—		(25)		138		3		—		141
Total Restructuring Expenses	$	1,958	$	—	$	—	$	1,958	$	8,343	$	658	$	—	$	9,001

Schedule of Restructuring Reserve

The following table summarizes the accrual and payment activity related to the restructuring program for the nine months ended September 30, 2023:


(In Thousands)	Severance		Other Restructuring Activities		Total
Balance at December 31, 2022	$	3,061	$	42	$	3,103
Charges	1,983		(25)		1,958
Cash Payments	(2,657)		(4)		(2,661)
Balance at September 30, 2023	$	2,387	$	13	$	2,400

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Description of Business	Description of Business PROG Holdings, Inc. ("we," "our," "us," the "Company," or "PROG Holdings") is a financial technology holding company that provides transparent and competitive payment options to consumers. PROG Holdings has two reportable segments: (i) Progressive Leasing, an in-store, app-based, and e-commerce point-of-sale lease-to-own solutions provider; and (ii) Vive Financial ("Vive"), an omnichannel provider of second-look revolving credit products. Our Progressive Leasing segment provides consumers with lease-purchase solutions through its point-of-sale partner locations and e-commerce website partners in the United States and Puerto Rico (collectively, "POS partners"). It does so by purchasing merchandise from the POS partners desired by customers and, in turn, leasing that merchandise to the customers through a cancellable lease-to-own transaction. Progressive Leasing has no stores of its own, but rather offers lease-purchase solutions to the customers of traditional and e-commerce retailers. Our Vive segment primarily serves customers that may not qualify for traditional prime lending offers who desire to purchase goods and services from participating merchants. Vive offers customized programs, with services that include revolving loans through private label and Vive-branded credit cards. Vive's current network of POS partner locations and e-commerce websites includes furniture, mattresses, home exercise equipment, and home improvement retailers, as well as medical and dental service providers. PROG Holdings’ ecosystem of financial technology offerings also includes Four Technologies, Inc. ("Four"), an innovative Buy Now, Pay Later ("BNPL") company that allows shoppers to pay for merchandise through four interest-free installments. Shoppers use Four to purchase furniture, clothing, electronics, health and beauty products, footwear, jewelry, and other consumer goods from retailers across the United States. Four is not a reportable segment for the three and nine month periods ended September 30, 2023 as its financial results are not material to the Company's condensed consolidated financial results.
Basis of Presentation	Basis of Presentation The preparation of the Company's condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information requires management to make estimates and assumptions that affect the amounts reported in these condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Management does not believe these estimates or assumptions will change significantly in the future absent unidentified and unforeseen events, such as the possible direct or indirect impacts associated with the rate of inflation, increasing unemployment rates, the resumption of student loan repayments, and/or a prolonged recession in the United States. The accompanying unaudited condensed consolidated financial statements do not include all information required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for a fair presentation have been included in the accompanying unaudited condensed consolidated financial statements. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 (the "2022 Annual Report") filed with the United States Securities and Exchange Commission on February 22, 2023. The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of operating results for the full year.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of PROG Holdings, Inc. and its subsidiaries, each of which is wholly-owned. Intercompany balances and transactions between consolidated entities have been eliminated.
Earnings Per Share	Earnings Per ShareEarnings per share is computed by dividing net earnings by the weighted average number of shares of common stock outstanding during the period. The computation of earnings per share assuming dilution includes the dilutive effect of stock options, restricted stock units ("RSUs"), restricted stock awards ("RSAs"), performance share units ("PSUs") and awards issuable under the Company's employee stock purchase plan ("ESPP") (collectively, "share-based awards") as determined under the treasury stock method.
Revenue Recognition	Revenue Recognition Lease Revenues and Fees Progressive Leasing provides merchandise, consisting primarily of furniture, appliances, electronics, jewelry, mobile phones and accessories, mattresses, automobile electronics and accessories, and a variety of other products, to its customers for lease under terms agreed to by the customer. Progressive Leasing offers customers of traditional and e-commerce retailers a lease-purchase solution through leases with payment terms that can generally be renewed up to 12 months. Progressive Leasing does not require deposits upon inception of customer agreements. The customer has the right to acquire ownership either through early buyout options or through payment of all required lease payments. The agreements are cancellable at any time by either party without penalty. All of Progressive Leasing's customer agreements are considered operating leases. The Company maintains ownership of the lease merchandise until all payment obligations are satisfied under the lease ownership agreements. Initial lease payments made by the customer upon lease execution are recognized as deferred revenue and are amortized as lease revenue over the estimated lease term on a straight-line basis. Initial lease payments and other payments collected in advance of being due or earned are recognized as deferred revenue within customer deposits and advance payments in the accompanying condensed consolidated balance sheets. All other customer lease billings are earned prior to the lease payment due date and are recorded net of related sales taxes as earned. Payment due date terms include weekly, bi-weekly, semi-monthly and monthly frequencies. Revenue recorded prior to the payment due date results in unbilled receivables recognized in accounts receivable, net of allowances, in the accompanying condensed consolidated balance sheets. Lease revenues are recorded net of a provision for uncollectible renewal payments. Initial direct costs related to lease purchase agreements are capitalized as incurred and amortized as operating expense over the estimated lease term. The capitalized costs have been classified within prepaid expenses and other assets in the accompanying condensed consolidated balance sheets.
Interest and Fees on Loans Receivable	Interest and Fees on Loans Receivable Interest and fees on loans receivable is primarily generated from our Vive segment. Vive extends or declines credit to an applicant through its bank partners based upon the applicant's credit rating and other factors. Qualifying applicants are approved for a specified maximum revolving credit card line to finance their initial purchase and to use in subsequent purchases at the merchant or other participating merchants for an initial 24-month period, which Vive may renew if the cardholder remains in good standing. Vive acquires the loan receivable from its third-party bank partners at a discount from the face value of the loan. The discount is comprised of a merchant fee discount and a promotional fee discount, if applicable. The merchant fee discount represents a pre-negotiated, nonrefundable discount that generally ranges from 3% to 25% of the loan face value. The discount is designed to cover the risk of loss related to the portfolio of cardholder charges and Vive's direct origination costs. The merchant fee discount and origination costs are presented net in the condensed consolidated balance sheets in loans receivable. Cardholders generally have an initial 24-month period that the card is active. The merchant fee discount, net of the origination costs, is amortized on a net basis and is recorded as interest and fees on loans receivable in the condensed consolidated statements of earnings on a straight-line basis over the initial 24-month period. If the loan receivable is paid off or charged off during the 24-month period, the remaining net merchant fee discount is recognized as interest and fees on loans receivable at that time. The discount from the face value of the loan on the acquisition of the loan receivable from the merchant through the third-party bank partners may also include a promotional fee discount, which generally ranges from 1% to 8%. The promotional fee discount is intended to compensate the holder of the loan receivable (i.e., Vive) for deferred or reduced interest rates that are offered to the cardholder for a specified period on the outstanding loan balance (generally for six, 12 or 18 months). The promotional fee discount is amortized as interest and fees on loans receivable in the condensed consolidated statements of earnings on a straight-line basis over the promotional interest period (i.e., over six, 12 or 18 months, depending on the promotion). If the loan receivable is paid off or charged off prior to the expiration of the promotional period, the remaining promotional fee discount is recognized as interest and fees on loans receivable at that time. The unamortized promotional fee discount is presented net within loans receivable in the condensed consolidated balance sheets. The customer is typically required to make monthly minimum payments of at least 3.5% of the outstanding loan balance, which includes outstanding interest. Fixed and variable interest rates, typically 27% to 35.99%, are compounded daily for cards that do not qualify for deferred or reduced interest promotional periods. Interest income, which is recognized based upon the amount of the loans outstanding, is recognized as interest and fees on loans receivable when earned if collectibility is reasonably assured. For credit cards that provide deferred interest, if the balance is not paid off during the promotional period or if the cardholder defaults, interest is billed to the customers at standard rates and the cumulative amount owed is charged to the cardholder account in the month that the promotional period expires. The Company recognizes interest revenue during the promotional period based on its historical experience related to cardholders that fail to pay off balances during the promotional period if collectibility is reasonably assured. Annual fees are charged to cardholders at the commencement of the loan and on each subsequent anniversary date. Annual fees are deferred and recognized into revenue on a straight-line basis over a one-year period. Under the provisions of the credit card agreements, Vive also may assess fees for missed or late payments, which are recognized as revenue in the billing period in which they are assessed if collectibility is reasonably assured. Annual fees and other fees are recognized as interest and fees on loans receivable in the condensed consolidated statements of earnings.
Accounts Receivable	Accounts ReceivableThe Company maintains an accounts receivable allowance, which primarily relates to its Progressive Leasing operations and, to a lesser extent, receivables from Vive's POS partners. The Company’s policy is to record an allowance for uncollectible renewal payments based on historical collection experience. Other qualitative factors, such as current and forecasted business trends, are considered in estimating the allowance. Given the significant uncertainty regarding the impacts of inflation, higher interest rates, the resumption of student loan repayments, and/or unemployment rates on our business, a high level of estimation was involved in determining the allowance as of September 30, 2023. Therefore, actual future accounts receivable write-offs may differ materially from the allowance. If the significant increase in inflation that began during 2022 continues in future periods, or if the current level of inflation does not decrease, such developments may further adversely impact certain customers' ability to continue to make payments to the Company. The provision for uncollectible renewal payments is recorded as a reduction of lease revenues and fees within the condensed consolidated statements of earnings. For customer lease agreements that are past due, the Company's policy is to write off lease receivables after 120 days.Vive's allowance for uncollectible merchant accounts receivable, which primarily relates to cardholder returns and refunds, and is an immaterial amount related to Vive's bad debt expense, is recorded within operating expenses in the condensed consolidated statements of earnings. See below for a discussion of Vive's loans receivable and related allowance for loan losses.
Lease Merchandise	Lease Merchandise Progressive Leasing's merchandise consists primarily of furniture, appliances, electronics, jewelry, mobile phones and accessories, mattresses, automobile electronics and accessories, and a variety of other products, and is recorded at the lower of depreciated cost or net realizable value. Progressive Leasing depreciates lease merchandise to a 0% salvage value generally over 12 months. Depreciation is accelerated upon early buyout. All of Progressive Leasing's merchandise, net of accumulated depreciation and allowances, represents on-lease merchandise. The Company records a provision for write-offs using the allowance method. The allowance method for lease merchandise write-offs estimates the merchandise losses incurred but not yet identified by management as of the end of the accounting period based on historical write-off experience. Other qualitative factors, such as current and forecasted customer payment trends, are considered in estimating the allowance. Given the significant uncertainty regarding the impacts of inflation, higher interest rates, the resumption of student loan repayments, and/or unemployment rates on our business, a high level of estimation was involved in determining the allowance as of September 30, 2023. Actual lease merchandise write-offs may differ materially from the allowance as of September 30, 2023. If the elevated rate of inflation that began during 2022 continues in future periods, or if the current level of inflation does not decrease, such developments may further adversely impact our customers' ability to continue to make payments to the Company. For customer lease agreements that are past due, the Company's policy is to write off lease merchandise after 120 days.
Loans Receivable, Net	Loans Receivable, Net Gross loans receivable primarily represents the principal balances of credit card charges at Vive's participating merchants that remain due from cardholders, plus unpaid interest and fees due from cardholders. The allowance and unamortized fees represent uncollectible amounts; merchant fee discounts, net of capitalized origination costs; promotional fee discounts; and deferred annual card fees. Loans receivable, net, also includes $3.8 million and $5.3 million of outstanding receivables from customers of Four as of September 30, 2023 and December 31, 2022, respectively. Economic conditions and loan performance trends are closely monitored to manage and evaluate exposure to credit risk. Trends in delinquency rates are an indicator of credit risk within the loans receivable portfolio, including the migration of loans between delinquency categories over time. Charge-off rates represent another indicator of the potential for future credit losses. The risk in the loans receivable portfolio is correlated with broad economic trends, such as current and projected unemployment rates, stock market volatility, and changes in medium and long-term risk-free rates, which are considered in determining the allowance for loan losses and can have a material effect on credit performance. Expected lifetime losses on loans receivable are recognized upon loan acquisition, which requires the Company to make its best estimate of probable lifetime losses at the time of acquisition. Vive's credit card loans do not have contractually stated maturity dates, which requires the Company to estimate an average life of loan by analyzing historical payment trends to determine an expected remaining life of the loan balance. The Company segments its loans receivable portfolio into homogenous pools by Fair Isaac and Company ("FICO") score and by delinquency status and evaluates loans receivable collectively for impairment when similar risk characteristics exist. The Company calculates Vive's allowance for loan losses based on internal historical loss information and incorporates observable and forecasted macroeconomic data over a twelve-month reasonable and supportable forecast period. Incorporating macroeconomic data could have a material impact on the measurement of the allowance to the extent that forecasted data changes significantly, such as higher forecasted inflation and unemployment rates. Subsequent to the twelve-month reasonable and supportable forecast period described above, the Company reverts to using historical loss information on a straight-line basis over a six-month period. For the remaining life of the portfolio, the Company utilizes historical loss information. The Company may also consider other qualitative factors in estimating the allowance, as necessary. For the purposes of determining the allowance as of September 30, 2023, management considered qualitative factors such as the impact of the rapid increase in the rate of inflation that began during 2022 and remained high through early 2023, the more recent declines in inflation rates, as well as the beneficial impact of government stimulus measures to the Company's customer base in 2021. The allowance for loan losses is maintained at a level considered appropriate to cover expected future losses of principal, interest and fees on active loans in the loans receivable portfolio. The appropriateness of the allowance is evaluated at each period end. To the extent that actual results differ from estimates of uncollectible loans receivable, due to the volatility of inflation, forecasted higher unemployment rates, housing costs, and/or the resumption of student loan repayments in October 2023, the Company's results of operations and liquidity may be materially affected. Vive's delinquent loans receivable includes those that are 30 days or more past due based on their contractual billing dates. Vive's loans receivable are placed on nonaccrual status when they are greater than 90 days past due or upon notification of cardholder bankruptcy, death or fraud. The Company discontinues accruing interest and fees and amortizing merchant fee discounts and promotional fee discounts for Vive's loans receivable in nonaccrual status. Loans receivable are removed from nonaccrual status when cardholder payments resume, the loan becomes 90 days or less past due and collection of the remaining amounts outstanding is deemed probable. Payments received on nonaccrual loans are allocated according to the same payment hierarchy methodology applied to loans that are accruing interest. Loans receivable are charged off no later than the end of the following month after the billing cycle in which the loans receivable become 120 days past due. Vive extends or declines credit to an applicant through its bank partners based upon the applicant's credit rating and other factors.
Goodwill	Goodwill Goodwill represents the excess of the purchase price paid over the fair value of the identifiable net tangible and intangible assets acquired in connection with business acquisitions. Progressive Leasing and Four are the only reporting units with goodwill as of September 30, 2023. Impairment occurs when the reporting unit's carrying value exceeds its fair value. The Company’s goodwill is not amortized but is subject to an impairment test at the reporting unit level annually as of October 1 and more frequently if events or circumstances indicate that an impairment may have occurred. Factors which could necessitate an interim impairment assessment include a sustained decline in the Company’s stock price, prolonged negative industry or economic trends and significant underperformance relative to historical results, projected future operating results, or the Company failing to successfully execute on one or more elements of Progressive Leasing and/or Four's strategic plans. As of September 30, 2022, the Company determined the Four goodwill was partially impaired and recorded an impairment of goodwill of $10.2 million during the third quarter of 2022. The Company engaged the assistance of a third-party valuation firm to perform the interim goodwill impairment test for the Four reporting unit. This included an assessment of the Four reporting unit's fair value relative to the carrying value that was derived using a market approach. The market approach, which includes the guideline public company method, utilized pricing multiples derived from an analysis of other publicly traded companies that operate in the Buy Now, Pay Later industry. We believe the comparable companies we evaluated as marketplace participants served as an appropriate reference when calculating fair value because those companies have similar risks, participate in similar markets, provide similar products and services for their customers and compete with Four directly. As of September 30, 2023, Four's goodwill balance was $7.3 million. Additional goodwill impairment charges may occur in future periods if the Company fails to execute on one or more elements of Four's strategic plan, Four's actual or projected results are unfavorable compared to the current forecasted operating results, and/or there are further declines in the Buy Now, Pay Later peer market multiples. The Company completed its annual goodwill impairment test for Progressive Leasing as of October 1, 2022 and concluded that no impairment had occurred. The Company determined that there were no events or circumstances that occurred during the nine months ended September 30, 2023 that would more likely than not reduce the fair value of Progressive Leasing or Four below their carrying amounts.
Stock-Based Compensation	Stock-Based Compensation During the nine months ended September 30, 2023, the Company issued 551,792 restricted stock units, 207,838 stock options, and 357,575 performance share units to certain employees, which vest over one to three-year periods for certain units and upon the achievement of specified performance conditions for other units. The weighted average fair value of the restricted stock and performance share awards was $25.58, which was based on the fair market value of the Company’s common stock on the dates of grant. The weighted average fair value of the stock option awards was $11.66, which was based on a grant date value using a Black-Scholes-Merton option pricing model. The Company will recognize the grant date fair value of the restricted stock units and stock options as stock-based compensation expense over the requisite service period of one to three years. The Company will recognize the grant date fair value of the performance units as stock-based compensation expense over the estimated vesting period based on the Company's projected assessment of the performance conditions that are probable of being achieved in accordance with ASC 718, Stock-based Compensation.
Cybersecurity Incident	Cybersecurity Incident As previously disclosed by the Company on September 21, 2023, Progressive Leasing recently experienced a cybersecurity incident affecting certain data and IT systems of Progressive Leasing. Promptly after detecting the incident, the Company engaged third-party cybersecurity experts and took immediate steps to respond to, remediate and investigate the incident. Law enforcement was also notified. While the Company's investigation into the incident, including identification of the data involved, remains ongoing, at this time, we believe the incident has been contained and there is no ongoing operational impact on our ability to provide our products and services. We maintain insurance, including coverage for cyber-attacks, subject to certain deductibles and policy limitations, in an amount that we believe appropriate. See Item 1A. Risk Factors for a discussion regarding our cybersecurity risks. During the three and nine months ended September 30, 2023, the Company incurred $1.8 million for actual and anticipated costs related to the cybersecurity incident. These costs related primarily to third-party legal and consulting services, and credit monitoring services for Progressive Leasing's customers and employees that were impacted, and are included within professional services expense as a component of operating expenses in the condensed consolidated statements of earnings. The full scope of the costs and related impacts of this incident, including the extent to which these costs will be offset by the Company’s cybersecurity insurance, has not been determined. Although the Company is unable to predict the full impact of this incident, the Company does not currently expect that it will have a material effect on the Company’s financial condition and results of operations.
Fair Value Measurement	Fair Value Measurement Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value: Level 1—Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2—Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3—Valuations based on unobservable inputs reflecting the Company's own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. The Company measures a liability related to its non-qualified deferred compensation plan, which represents benefits accrued for plan participants and is valued at the quoted market prices of the participants' investment election, at fair value on a recurring basis. The Company maintains certain financial assets and liabilities that are not measured at fair value but for which fair value is disclosed. The fair values of the Company's other current financial assets and liabilities, including cash and cash equivalents, accounts receivable and accounts payable, approximate their carrying values due to their short-term nature. The fair value of any revolving credit borrowings also approximate their carrying amounts.
Recent Accounting Pronouncements	Recent Accounting Pronouncements There have been no recent accounting pronouncements issued which are expected to have a material effect on the Company's financial statements. Management continues to monitor and review recently issued accounting guidance upon issuance.

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stock-based Compensation (Details)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period \| shares	551,792
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period \| shares	207,838
Weighted average fair value price per share (in dollars per share) \| $ / shares	$ 11.66
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period \| shares	357,575
Weighted average fair value price per share (in dollars per share) \| $ / shares	$ 25.58
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value price per share (in dollars per share) \| $ / shares	$ 25.58
Restricted Stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Award requisite service period	1 year
Restricted Stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Award requisite service period	3 years

SEGMENTS - Narrative (Details)		3 Months Ended	9 Months Ended
SEGMENTS - Narrative (Details)	Jun. 25, 2021 paymentInstallment	Sep. 30, 2023 paymentInstallment	Sep. 30, 2023 segment
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			2
Four Technologies, Inc.
Segment Reporting Information [Line Items]
Number of interest-free Installments \| paymentInstallment	4	4

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2023	Oct. 20, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-39628
Entity Registrant Name	PROG HOLDINGS, INC.
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	85-2484385
Entity Address, Address Line One	256 W. Data Drive
Entity Address, City or Town	Draper,
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84020-2315
City Area Code	385
Local Phone Number	351-1369
Title of 12(b) Security	Common Stock, $0.50 Par Value
Trading Symbol	PRG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		44,722,262
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001808834
Current Fiscal Year End Date	--12-31

FAIR VALUE MEASUREMENT - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring Basis - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Liability	$ 0	$ 0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Liability	2,229	2,185
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred Compensation Liability	$ 0	$ 0

RESTRUCTURING EXPENSES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		21 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Total Restructuring Expenses	$ 238	$ 4,673	$ 1,958	$ 9,001	$ 11,000

LOANS RECEIVABLE - Components of the Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 38,946	$ 40,797	$ 42,428	$ 40,789
Provision for Loan Losses	10,521	12,031	28,026	28,491
Charge-offs	(10,968)	(11,612)	(34,588)	(30,286)
Recoveries	1,690	1,086	4,323	3,308
Ending Balance	$ 40,189	$ 42,302	$ 40,189	$ 42,302

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Lease Merchandise (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Components of the allowance of leases merchandise write-offs:
Beginning Balance	$ 49,479	$ 70,579	$ 47,118	$ 54,367
Net Book Value of Merchandise Written off	(42,138)	(56,810)	(122,721)	(157,376)
Recoveries	1,788	2,329	5,403	6,989
Provision for Write-offs	36,966	43,537	116,295	155,655
Ending Balance	$ 46,095	$ 59,635	$ 46,095	$ 59,635
Progressive Leasing
Significant Accounting Policies [Line Items]
Lease merchandise salvage value percentage	0.00%		0.00%
Lease agreement, lease period used as asset useful life			12 months

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Credit Quality Indicators (Details)	Sep. 30, 2023	Dec. 31, 2022
600 or Less
Financing Receivable, Credit Quality Indicator [Line Items]
Percentage of loan portfolio per FICO score	6.80%	6.90%
Between 600 and 700
Financing Receivable, Credit Quality Indicator [Line Items]
Percentage of loan portfolio per FICO score	77.70%	75.40%
700 or Greater
Financing Receivable, Credit Quality Indicator [Line Items]
Percentage of loan portfolio per FICO score	12.20%	13.40%
No Score Identified
Financing Receivable, Credit Quality Indicator [Line Items]
Percentage of loan portfolio per FICO score	3.30%	4.30%

LOANS RECEIVABLE

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

LOANS RECEIVABLE

The following is a summary of the Company’s loans receivable, net:


(In Thousands)	September 30, 2023		December 31, 2022
Loans Receivable, Gross	$	169,683	$	184,601
Unamortized Fees	(9,565)		(11,207)
Loans Receivable, Amortized Cost	160,118		173,394
Allowance for Loan Losses	(40,189)		(42,428)
Loans Receivable, Net of Allowances and Unamortized Fees1	$	119,929	$	130,966

1 Loans Receivable, Net of Allowances and Unamortized Fees, attributable to Four was $3.8 million and $5.3 million as of September 30, 2023 and December 31, 2022, respectively.

The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year:


(In Thousands)
As of September 30, 2023	2023		2022		2021 and Prior		Revolving Loans		Total
FICO Score Category:
600 or Less	$	—	$	—	$	—	$	11,131	$	11,131
Between 600 and 700	—		—		—		124,622		124,622
700 or Greater	—		—		—		19,044		19,044
No Score Identified	5,321		—		—		—		5,321
Total Amortized Cost	$	5,321	$	—	$	—	$	154,797	$	160,118

Gross Charge-offs by Origination Year for the Nine Months Ended September 30, 2023	$	1,019	$	2,449	$	—	$	31,120	$	34,588

Included in the table below is an aging of the loans receivable, gross balance:


(Dollar Amounts in Thousands)
Aging Category	September 30, 2023			December 31, 2022
30-59 Days Past Due	6.5		%	6.6		%
60-89 Days Past Due	3.7		%	3.5		%
90 or More Days Past Due	5.6		%	5.1		%
Past Due Loans Receivable	15.8		%	15.2		%
Current Loans Receivable	84.2		%	84.8		%

Balance of Credit Card Loans on Nonaccrual Status	$	4,633		$	4,436
Balance of Loans Receivable 90 or More Days Past Due and Still Accruing Interest and Fees	$	—		$	—

The table below presents the components of the allowance for loan losses for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In Thousands)	2023		2022		2023		2022
Beginning Balance	$	38,946	$	40,797	$	42,428	$	40,789
Provision for Loan Losses	10,521		12,031		28,026		28,491
Charge-offs	(10,968)		(11,612)		(34,588)		(30,286)
Recoveries	1,690		1,086		4,323		3,308
Ending Balance	$	40,189	$	42,302	$	40,189	$	42,302

FAIR VALUE MEASUREMENT - Narrative (Details) $ in Millions	Nov. 26, 2021 USD ($)
Senior Unsecured Notes Due 2029 \| Unsecured Debt
Fair Value, Option, Quantitative Disclosures [Line Items]
Aggregate principal amount	$ 600

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Sep. 09, 2022 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Other Commitments [Line Items]
Loss contingency accrual		$ 1,100	$ 600
Unused Credit Card Lines
Other Commitments [Line Items]
Remaining credit available		$ 531,200	$ 513,700
Civil Penalties \| Violation Of The Pennsylvania Rental Purchase Agreement Act
Other Commitments [Line Items]
Litigation settlement of Interest Rate	0.06
Litigation settlement penalties	$ 1
Civil Penalties For Violation Involving Consumers Aged 60 Or Older \| Violation Of The Pennsylvania Rental Purchase Agreement Act
Other Commitments [Line Items]
Litigation settlement penalties	$ 3

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cybersecurity Incident (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Cybersecurity Incident
Unusual or Infrequent Item, or Both [Line Items]
Amounts incurred for actual and anticipated costs	$ 1.8	$ 1.8

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Prepaid Expenses	$ 21,370	$ 18,845
Prepaid Lease Merchandise	5,955	10,134
Prepaid Software Expenses	7,006	7,022
Unamortized Initial Direct Costs on Lease Agreement Originations	5,312	6,016
Other Assets	6,926	6,464
Prepaid Expenses and Other Assets	$ 46,569	$ 48,481

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Calculation of Dilutive Stock Awards (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accounting Policies [Abstract]
Weighted average shares outstanding (in shares)	45,515	50,461	46,606	52,896
Dilutive effect of share-based awards (in shares)	618	86	442	157
Weighted average shares outstanding assuming dilution (in shares)	46,133	50,547	47,048	53,053

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Interest and Fees on Loans Receivable (Details)	9 Months Ended
	Sep. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Credit terms, merchant fee, percentage, promotional interest period one (in months)	6 months
Credit terms, merchant fee, percentage, promotional interest period two (in months)	12 months
Credit terms, merchant fee, percentage, promotional interest period three (in months)	18 months
Credit Card Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Credit terms, privilege period	24 months
Credit terms, minimum payment required, percentage of outstanding loan balance	3.50%
Credit Card Loans \| Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant fee (percentage)	3.00%
Financing receivable promotional fees percent	1.00%
Credit terms, interest rate, fixed and variable (percentage)	27.00%
Credit Card Loans \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant fee (percentage)	25.00%
Financing receivable promotional fees percent	8.00%
Credit terms, interest rate, fixed and variable (percentage)	35.99%

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal and Regulatory Proceedings From time to time, the Company is party to various legal and regulatory proceedings arising in the ordinary course of business. Some of the proceedings to which the Company is currently a party are described below. The Company believes it has meritorious defenses to all of the claims described below, and intends to vigorously defend against the claims. However, these proceedings are still developing and due to the inherent uncertainty in litigation, regulatory and similar adversarial proceedings, there can be no guarantee that the Company will ultimately be successful in these proceedings, or in others to which it is currently a party. Substantial losses from these proceedings or the costs of defending them could have a material adverse impact upon the Company’s business, financial position and results of operations. The Company establishes an accrued liability for legal and regulatory proceedings when it determines that a loss is both probable and the amount of the loss can be reasonably estimated. The Company continually monitors its litigation and regulatory exposure and reviews the adequacy of its legal and regulatory reserves on a quarterly basis. The amount of any loss ultimately incurred in relation to matters for which an accrual has been established may be higher or lower than the amounts accrued for such matters. At September 30, 2023 and December 31, 2022, the Company had accrued $1.1 million and $0.6 million, respectively, for pending legal and regulatory matters for which it believes losses are probable and the amount of the loss can be reasonably estimated. The Company records its best estimate of the loss to legal and regulatory liabilities in accounts payable and accrued expenses in the condensed consolidated balance sheets. The Company estimates the aggregate range of reasonably possible loss in excess of accrued liabilities for such probable loss contingencies is immaterial. Those matters for which a probable loss cannot be reasonably estimated are not included within the estimated ranges. At September 30, 2023, the Company estimated that the aggregate range of loss for all material pending legal and regulatory proceedings for which a loss is reasonably possible, but less likely than probable (i.e., excluding the contingencies described in the preceding paragraph), is immaterial. Those matters for which a reasonable estimate is not possible are not included within estimated ranges and, therefore, the estimated ranges do not represent the Company's maximum loss exposure. The Company’s estimates for legal and regulatory accruals, aggregate probable loss amounts and reasonably possible loss amounts are all subject to the uncertainties and variables described above. Regulatory Inquiries In January 2021, the Company, along with other lease-to-own companies, received a subpoena from the California Department of Financial Protection and Innovation (the "DFPI") requesting the production of documents regarding the Company’s compliance with state consumer protection laws, including new legislation that went into effect on January 1, 2021. Although the Company believes it is in compliance with all applicable consumer financial laws and regulations in California, this inquiry may lead to an enforcement action and/or a consent order, and substantial costs, including legal fees, fines, penalties, and remediation expenses. While the Company intends to preserve defenses surrounding the jurisdiction of DFPI in this matter, it has fully cooperated, and anticipates continuing to cooperate, with the DFPI in responding to its inquiry. Litigation Matters On August 25, 2022, the Pennsylvania Attorney General filed a complaint against Progressive Leasing in the Philadelphia County Court of Common Pleas alleging, among other things, that Progressive Leasing was operating in the Commonwealth of Pennsylvania in violation of the Pennsylvania Rental Purchase Agreement Act by failing to disclose certain terms and conditions of rent-to-own ("RTO") transactions on "hang tags" physically attached to RTO merchandise. The complaint seeks, among other things, to convert all RTO agreements entered into by Progressive Leasing prior to September 9, 2022 into retail installment contracts for which the maximum interest rate is 6% per annum, civil penalties in the amount of $1,000 for each violation of Pennsylvania’s Unfair Trade Practices and Consumer Protection Law (and $3,000 for each such violation involving a consumer age 60 or older) and unspecified investigation and prosecution costs. Progressive Leasing believes the Pennsylvania Attorney General’s claims are without merit and intends to vigorously defend itself in this matter. It is reasonably possible that a loss in excess of amounts accrued may be incurred, but at this time, we are unable to predict the outcome or reasonably estimate the range of losses that could potentially result from this lawsuit. Other Contingencies Management regularly assesses the Company’s insurance deductibles, monitors the Company's litigation and regulatory exposure with the Company's attorneys and evaluates its loss experience. The Company also enters into various contracts in the normal course of business that may subject it to risk of financial loss if counterparties fail to perform their contractual obligations. Off-Balance Sheet Risk The Company, through its Vive segment, had unconditionally cancellable unfunded lending commitments totaling $531.2 million and $513.7 million as of September 30, 2023 and December 31, 2022, respectively, that do not give rise to revenues and cash flows. These unfunded commitments arise in the ordinary course of business from credit card agreements with individual cardholders that give them the ability to borrow, against unused amounts, up to the maximum credit limit assigned to their account. While these unfunded amounts represent the total available unused lines of credit, the Company does not anticipate that all cardholders will utilize their entire available line at any given point in time. Commitments to extend unsecured credit are agreements to lend to a cardholder so long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements.

LOANS RECEIVABLE (Tables)

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

Schedule of the Components of Loans Receivable, Net

The following is a summary of the Company’s loans receivable, net:


(In Thousands)	September 30, 2023		December 31, 2022
Loans Receivable, Gross	$	169,683	$	184,601
Unamortized Fees	(9,565)		(11,207)
Loans Receivable, Amortized Cost	160,118		173,394
Allowance for Loan Losses	(40,189)		(42,428)
Loans Receivable, Net of Allowances and Unamortized Fees1	$	119,929	$	130,966

1 Loans Receivable, Net of Allowances and Unamortized Fees, attributable to Four was $3.8 million and $5.3 million as of September 30, 2023 and December 31, 2022, respectively.

Schedule of Loan Portfolio Credit Quality Indicators

Below is a summary of the credit quality of the Company's loan portfolio as of September 30, 2023 and December 31, 2022 by FICO score as determined at the time of loan origination:


FICO Score Category	September 30, 2023		December 31, 2022
600 or Less	6.8	%	6.9	%
Between 600 and 700	77.7	%	75.4	%
700 or Greater	12.2	%	13.4	%
No Score Identified	3.3	%	4.3	%

The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year:


(In Thousands)
As of September 30, 2023	2023		2022		2021 and Prior		Revolving Loans		Total
FICO Score Category:
600 or Less	$	—	$	—	$	—	$	11,131	$	11,131
Between 600 and 700	—		—		—		124,622		124,622
700 or Greater	—		—		—		19,044		19,044
No Score Identified	5,321		—		—		—		5,321
Total Amortized Cost	$	5,321	$	—	$	—	$	154,797	$	160,118

Gross Charge-offs by Origination Year for the Nine Months Ended September 30, 2023	$	1,019	$	2,449	$	—	$	31,120	$	34,588

Schedule of Aging of the Loans Receivable Balance

Included in the table below is an aging of the loans receivable, gross balance:


(Dollar Amounts in Thousands)
Aging Category	September 30, 2023			December 31, 2022
30-59 Days Past Due	6.5		%	6.6		%
60-89 Days Past Due	3.7		%	3.5		%
90 or More Days Past Due	5.6		%	5.1		%
Past Due Loans Receivable	15.8		%	15.2		%
Current Loans Receivable	84.2		%	84.8		%

Balance of Credit Card Loans on Nonaccrual Status	$	4,633		$	4,436
Balance of Loans Receivable 90 or More Days Past Due and Still Accruing Interest and Fees	$	—		$	—

Schedule of Allowance for Loan Losses

The table below presents the components of the allowance for loan losses for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In Thousands)	2023		2022		2023		2022
Beginning Balance	$	38,946	$	40,797	$	42,428	$	40,789
Provision for Loan Losses	10,521		12,031		28,026		28,491
Charge-offs	(10,968)		(11,612)		(34,588)		(30,286)
Recoveries	1,690		1,086		4,323		3,308
Ending Balance	$	40,189	$	42,302	$	40,189	$	42,302

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) shares in Thousands			3 Months Ended		9 Months Ended
	Oct. 01, 2022 USD ($)	Jun. 25, 2021 paymentInstallment	Sep. 30, 2023 USD ($) paymentInstallment shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2023 USD ($) segment shares	Sep. 30, 2022 USD ($) shares	Dec. 31, 2022 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable segments \| segment					2
Anti-dilutive securities excluded from the computation of earnings per share assuming dilution (in shares) \| shares			614,000	1,622,000	880,000	1,418,000
Accounts receivable, after allowance for credit loss			$ 55,799,000		$ 55,799,000		$ 64,521,000
Impairment of Goodwill			0	$ 10,151,000	0	$ 10,151,000
Goodwill			$ 296,061,000		296,061,000		296,061,000
Impairment of indefinite-lived intangibles	$ 0
Four Technologies, Inc.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of interest-free Installments \| paymentInstallment		4	4
Goodwill			$ 7,300,000		7,300,000
Progressive Leasing
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable, after allowance for credit loss			$ 55,800,000		$ 55,800,000		$ 64,500,000
Lease merchandise salvage value percentage			0.00%		0.00%
Lease agreement, lease period used as asset useful life					12 months
Agreement One \| Progressive Finance Holdings, LLC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease agreement period					12 months

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Debt (Details)	Nov. 26, 2021 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 24, 2020 USD ($)
Debt Instrument [Line Items]
Available credit facility		$ 350,000,000	$ 350,000,000
Common Stock
Debt Instrument [Line Items]
Tender offer shares repurchased and retired value	$ 425,000,000
Unsecured Debt \| Senior Unsecured Notes Due 2029
Debt Instrument [Line Items]
Aggregate principal amount	$ 600,000,000
Secured Debt \| Senior Unsecured Notes 6.000% Due 2029
Debt Instrument [Line Items]
Debt interest rate (percentage)	6.00%
Secured Debt \| Senior Unsecured Notes 6.000% Due 2029 \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage (percentage)	100.00%
Revolving Credit Facility \| Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity				$ 350,000,000
Total net debt to EBITDA		1.25
Long-term line of credit		$ 0	$ 0

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Schedule of Calculation of Dilutive Stock Awards

The following table shows the calculation of dilutive share-based awards:


	Three Months Ended September 30,		Nine Months Ended September 30,
(Shares In Thousands)	2023	2022	2023	2022
Weighted Average Shares Outstanding	45,515	50,461	46,606	52,896
Dilutive Effect of Share-Based Awards	618	86	442	157
Weighted Average Shares Outstanding Assuming Dilution	46,133	50,547	47,048	53,053

Schedule of Allowance for Doubtful Accounts

The following table shows the components of the accounts receivable allowance:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In Thousands)	2023		2022		2023		2022
Beginning Balance	$	65,544	$	81,898	$	69,264	$	71,233
Net Book Value of Accounts Written Off	(87,622)		(109,203)		(256,820)		(302,945)
Recoveries	8,654		8,736		30,400		27,623
Accounts Receivable Provision	81,459		104,303		225,191		289,823
Ending Balance	$	68,035	$	85,734	$	68,035	$	85,734

Schedule of Allowance for Lease Merchandise

The following table shows the components of the allowance for lease merchandise write-offs, which is included within lease merchandise, net in the condensed consolidated balance sheets:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In Thousands)	2023		2022		2023		2022
Beginning Balance	$	49,479	$	70,579	$	47,118	$	54,367
Net Book Value of Merchandise Written off	(42,138)		(56,810)		(122,721)		(157,376)
Recoveries	1,788		2,329		5,403		6,989
Provision for Write-offs	36,966		43,537		116,295		155,655
Ending Balance	$	46,095	$	59,635	$	46,095	$	59,635

Schedule of Loan Portfolio Credit Quality Indicators

Below is a summary of the credit quality of the Company's loan portfolio as of September 30, 2023 and December 31, 2022 by FICO score as determined at the time of loan origination:


FICO Score Category	September 30, 2023		December 31, 2022
600 or Less	6.8	%	6.9	%
Between 600 and 700	77.7	%	75.4	%
700 or Greater	12.2	%	13.4	%
No Score Identified	3.3	%	4.3	%

The table below presents credit quality indicators of the amortized cost of the Company's loans receivable by origination year:


(In Thousands)
As of September 30, 2023	2023		2022		2021 and Prior		Revolving Loans		Total
FICO Score Category:
600 or Less	$	—	$	—	$	—	$	11,131	$	11,131
Between 600 and 700	—		—		—		124,622		124,622
700 or Greater	—		—		—		19,044		19,044
No Score Identified	5,321		—		—		—		5,321
Total Amortized Cost	$	5,321	$	—	$	—	$	154,797	$	160,118

Gross Charge-offs by Origination Year for the Nine Months Ended September 30, 2023	$	1,019	$	2,449	$	—	$	31,120	$	34,588

Schedule of Prepaid Expenses and Other Assets

Prepaid expenses and other assets consist of the following:


(In Thousands)	September 30, 2023		December 31, 2022
Prepaid Expenses	$	21,370	$	18,845
Prepaid Lease Merchandise	5,955		10,134
Prepaid Software Expenses	7,006		7,022
Unamortized Initial Direct Costs on Lease Agreement Originations	5,312		6,016
Other Assets	6,926		6,464
Prepaid Expenses and Other Assets	$	46,569	$	48,481

Schedule of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consist of the following:


(In Thousands)	September 30, 2023		December 31, 2022
Accounts Payable	$	16,547	$	14,386
Accrued Salaries and Benefits	22,858		21,366
Accrued Sales and Personal Property Taxes	12,311		13,517
Income Taxes Payable	3,166		1,287
Uncertain Tax Positions1	54,030		51,110
Accrued Vendor Rebates	6,261		9,320
Other Accrued Expenses and Liabilities	31,362		24,039
Accounts Payable and Accrued Expenses	$	146,535	$	135,025

Schedule of Stockholders Equity

Changes in shareholders' equity for the nine months ended September 30, 2023 and 2022 are as follows:


	Treasury Stock			Common Stock			Additional Paid-in Capital		Retained Earnings		Total Shareholders’ Equity
(In Thousands)	Shares	Amount		Shares	Amount
Balance, December 31, 2022	(34,044)	$	(963,627)	82,079	$	41,039	$	338,814	$	1,154,235	$	570,461
Stock-Based Compensation	—	—		—	—		5,460		—		5,460
Reissued Shares	166	4,778		—	—		(7,171)		—		(2,393)
Repurchased Shares	(1,459)	(36,769)		—	—		—		—		(36,769)
Net Earnings	—	—		—	—		—		48,033		48,033
Balance, March 31, 2023	(35,337)	$	(995,618)	82,079	$	41,039	$	337,103	$	1,202,268	$	584,792
Stock-Based Compensation	—	—		—	—		6,886		—		6,886
Reissued Shares	52	1,439		—	—		(973)		—		466
Repurchased Shares	(1,083)	(35,713)		—	—		—		—		(35,713)
Net Earnings	—	—		—	—		—		37,218		37,218
Balance, June 30, 2023	(36,368)	$	(1,029,892)	82,079	$	41,039	$	343,016	$	1,239,486	$	593,649
Stock-Based Compensation	—	—		—	—		6,889		—		6,889
Reissued Shares	57	1,462		—	—		(2,099)		—		(637)
Repurchased Shares	(1,045)	(36,776)		—	—		—		—		(36,776)
Net Earnings	—	—		—	—		—		35,012		35,012
Balance, September 30, 2023	(37,356)	$	(1,065,206)	82,079	$	41,039	$	347,806	$	1,274,498	$	598,137


	Treasury Stock			Common Stock			Additional Paid-in Capital		Retained Earnings		Total Shareholders’ Equity
(In Thousands)	Shares	Amount		Shares	Amount
Balance, December 31, 2021	(25,638)	$	(749,401)	82,079	$	41,039	$	332,244	$	1,055,526	$	679,408
Stock-Based Compensation	—	—		—	—		6,587		—		6,587
Reissued Shares	177	5,260		—	—		(7,776)		—		(2,516)
Repurchased Shares	(2,200)	(78,080)		—	—		—		—		(78,080)
Net Earnings	—	—		—	—		—		27,135		27,135
Balance, March 31, 2022	(27,661)	$	(822,221)	82,079	$	41,039	$	331,055	$	1,082,661	$	632,534
Stock-Based Compensation	—	—		—	—		2,484		—		2,484
Reissued Shares	47	1,380		—	—		(716)		—		664
Repurchased Shares	(3,899)	(98,395)		—	—		—		—		(98,395)
Net Earnings	—	—		—	—		—		19,484		19,484
Balance, June 30, 2022	(31,513)	$	(919,236)	82,079	$	41,039	$	332,823	$	1,102,145	$	556,771
Stock-Based Compensation	—	—		—	—		4,960		—		4,960
Reissued Shares	56	1,755		—	—		(2,141)		—		(386)
Repurchased Shares	(589)	(10,886)		—	—		—		—		(10,886)
Net Earnings	—	—		—	—		—		16,005		16,005
Balance, September 30, 2022	(32,046)	$	(928,367)	82,079	$	41,039	$	335,642	$	1,118,150	$	566,464

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS:
Cash and Cash Equivalents	$ 294,786	$ 131,880
Accounts Receivable (net of allowances of $68,035 in 2023 and $69,264 in 2022)	55,799	64,521
Lease Merchandise (net of accumulated depreciation and allowances of $451,923 in 2023 and $467,355 in 2022)	521,226	648,043
Loans Receivable (net of allowances and unamortized fees of $49,754 in 2023 and $53,635 in 2022)	119,929	130,966
Property and Equipment, Net	23,926	23,852
Operating Lease Right-of-Use Assets	9,932	11,875
Goodwill	296,061	296,061
Other Intangibles, Net	97,314	114,411
Income Tax Receivable	20,764	18,864
Deferred Income Tax Assets	2,851	2,955
Prepaid Expenses and Other Assets	46,569	48,481
Total Assets	1,489,157	1,491,909
LIABILITIES & SHAREHOLDERS’ EQUITY:
Accounts Payable and Accrued Expenses	146,535	135,025
Deferred Income Tax Liabilities	104,820	137,261
Customer Deposits and Advance Payments	30,611	37,074
Operating Lease Liabilities	17,114	21,122
Debt	591,940	590,966
Total Liabilities	891,020	921,448
Commitments and Contingencies
SHAREHOLDERS' EQUITY:
Common Stock, Par Value $0.50 Per Share: Authorized: 225,000,000 Shares at September 30, 2023 and December 31, 2022; Shares Issued: 82,078,654 at September 30, 2023 and December 31, 2022	41,039	41,039
Additional Paid-in Capital	347,806	338,814
Retained Earnings	1,274,498	1,154,235
Shareholders' Equity, before Treasury Shares at Cost	1,663,343	1,534,088
Less: Treasury Shares at Cost
Common Stock: 37,356,392 Shares at September 30, 2023 and 34,044,102 at December 31, 2022	(1,065,206)	(963,627)
Total Shareholders’ Equity	598,137	570,461
Total Liabilities & Shareholders’ Equity	$ 1,489,157	$ 1,491,909

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Vendor Incentives and Rebates Provided to POS Partners (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
POS Partners
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Marketing expense	$ 6.3	$ 6.2	$ 20.7	$ 19.0

LOANS RECEIVABLE - Components of Loans Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans Receivable, Gross	$ 169,683		$ 184,601
Unamortized Fees	(9,565)		(11,207)
Loans Receivable, Amortized Cost	160,118		173,394
Allowance for Loan Losses	(40,189)	$ (38,946)	(42,428)	$ (42,302)	$ (40,797)	$ (40,789)
Loans Receivable, Net of Allowances and Unamortized Fees	119,929		130,966
Four Technologies, Inc.
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans Receivable, Net of Allowances and Unamortized Fees	$ 3,800		$ 5,300

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

- Definition

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 80
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479294/326-20-55-80

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 79
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479294/326-20-55-79

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479344/326-20-45-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(3)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1405
-Paragraph (a)
-Subparagraph (1)
-Publisher SEC

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1405
-Paragraph (a)
-Subparagraph (2)
-Publisher SEC

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1404
-Paragraph (a)
-Publisher SEC

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-14

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 7A
-SubTopic 10
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-7A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-5

+ Details

LOANS RECEIVABLE - Aging of the Loans Receivable Balance (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Past Due Loans Receivable	15.80%	15.20%
Current Loans Receivable	84.20%	84.80%
Balance of Credit Card Loans on Nonaccrual Status	$ 4,633	$ 4,436
Balance of Loans Receivable 90 or More Days Past Due and Still Accruing Interest and Fees	$ 0	$ 0
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due Loans Receivable	6.50%	6.60%
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due Loans Receivable	3.70%	3.50%
90 or More Days Past Due
Financing Receivable, Past Due [Line Items]
Past Due Loans Receivable	5.60%	5.10%

RESTRUCTURING EXPENSES - Summary of Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		21 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	$ 238	$ 4,673	$ 1,958	$ 9,001	$ 11,000
Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	238	4,670	1,958	8,343
Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	3	0	658
Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	0	0	0
Severance
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	260	2,076	1,983	5,611
Severance \| Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	260	2,076	1,983	5,611
Severance \| Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	0	0	0
Severance \| Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	0	0	0
Right-of-Use Asset Impairment
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	2,285	0	2,940
Right-of-Use Asset Impairment \| Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	2,285	0	2,285
Right-of-Use Asset Impairment \| Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	0	0	655
Right-of-Use Asset Impairment \| Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	0	0	0
Property and Equipment Impairment
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	309	0	309
Property and Equipment Impairment \| Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	309	0	309
Property and Equipment Impairment \| Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	0	0	0
Property and Equipment Impairment \| Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	0	0	0
Other Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	(22)	3	(25)	141
Other Restructuring Activities \| Progressive Leasing
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	(22)	0	(25)	138
Other Restructuring Activities \| Vive
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	0	3	0	3
Other Restructuring Activities \| Other
Restructuring Cost and Reserve [Line Items]
Total Restructuring Expenses	$ 0	$ 0	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

RESTRUCTURING EXPENSES

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING EXPENSES

During 2022, the Company initiated restructuring activities intended to reduce expenses, consolidate certain segment corporate headquarters, and align the cost structure of the business with the Company's near-term revenue outlook. The Company continued such activities during 2023 and recorded restructuring expenses of $0.2 million and $2.0 million for the three and nine months ended September 30, 2023, respectfully, resulting in aggregate expenses of $11.0 million since the inception of the restructuring activities in 2022. These costs were primarily comprised of employee severance within Progressive Leasing and operating lease right-of-use asset impairment charges related to the relocation of the Vive corporate headquarters to the Company's corporate office building and a reduction of call center office space. The Company will continue to monitor the impacts of changes in macroeconomic conditions on its businesses and may take additional steps to further adjust the Company's cost structure based on unfavorable changes in these conditions, which may result in further restructuring charges in future periods.

The following tables summarize restructuring charges recorded within operating expenses in the condensed consolidated statements of earnings for the three and nine months ended September 30, 2023:


	Three Months Ended September 30, 2023								Three Months Ended September 30, 2022
(In Thousands)	Progressive Leasing		Vive		Other		Total		Progressive Leasing		Vive		Other		Total
Severance	$	260	$	—	$	—	$	260	$	2,076	$	—	$	—	$	2,076
Right-of-Use Asset Impairment	—		—		—		—		2,285		—		—		2,285
Property and Equipment Impairment	—		—		—		—		309		—		—		309
Other Restructuring Activities	(22)		—		—		(22)		—		3		—		3
Total Restructuring Expenses	$	238	$	—	$	—	$	238	$	4,670	$	3	$	—	$	4,673


	Nine Months Ended September 30, 2023								Nine Months Ended September 30, 2022
(In Thousands)	Progressive Leasing		Vive		Other		Total		Progressive Leasing		Vive		Other		Total
Severance	$	1,983	$	—	$	—	$	1,983	$	5,611	$	—	$	—	$	5,611
Right-of-Use Asset Impairment	—		—		—		—		2,285		655		—		2,940
Property and Equipment Impairment	—		—		—		—		309		—		—		309
Other Restructuring Activities	(25)		—		—		(25)		138		3		—		141
Total Restructuring Expenses	$	1,958	$	—	$	—	$	1,958	$	8,343	$	658	$	—	$	9,001

The following table summarizes the accrual and payment activity related to the restructuring program for the nine months ended September 30, 2023:


(In Thousands)	Severance		Other Restructuring Activities		Total
Balance at December 31, 2022	$	3,061	$	42	$	3,103
Charges	1,983		(25)		1,958
Cash Payments	(2,657)		(4)		(2,661)
Balance at September 30, 2023	$	2,387	$	13	$	2,400

FAIR VALUE MEASUREMENT (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes financial liabilities measured at fair value on a recurring basis:


(In Thousands)	September 30, 2023						December 31, 2022
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Deferred Compensation Liability	$	—	$	2,229	$	—	$	—	$	2,185	$	—

Schedule of Assets Measured at Fair Value on Nonrecurring Basis

The following table summarizes the fair value of the Company's debt and the loans receivable held by Vive and Four:


(In Thousands)	September 30, 2023						December 31, 2022
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Senior Notes	$	—	$	524,700	$	—	$	—	$	481,320	$	—
Loans Receivable, Net	$	—	$	—	$	145,270	$	—	$	—	$	165,690

FAIR VALUE MEASUREMENT - Fair Value for Loan Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	$ 0	$ 0
Loans Receivable, Net	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	524,700	481,320
Loans Receivable, Net	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	0	0
Loans Receivable, Net	$ 145,270	$ 165,690

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Shareholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance - treasury (in shares)			(34,044,102)				(34,044,102)
Beginning balance	$ 593,649	$ 584,792	$ 570,461	$ 556,771	$ 632,534	$ 679,408	$ 570,461	$ 679,408
Stock-Based Compensation	6,889	6,886	5,460	4,960	2,484	6,587
Reissued Shares	(637)	466	(2,393)	(386)	664	(2,516)
Repurchased Shares	(36,776)	(35,713)	(36,769)	(10,886)	(98,395)	(78,080)
Net Earnings	$ 35,012	37,218	48,033	16,005	19,484	27,135	$ 120,263	62,624
Ending balance - treasury (in shares)	(37,356,392)						(37,356,392)
Ending balance	$ 598,137	$ 593,649	$ 584,792	$ 566,464	$ 556,771	$ 632,534	$ 598,137	$ 566,464
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance - treasury (in shares)	(36,368,000)	(35,337,000)	(34,044,000)	(31,513,000)	(27,661,000)	(25,638,000)	(34,044,000)	(25,638,000)
Beginning balance	$ (1,029,892)	$ (995,618)	$ (963,627)	$ (919,236)	$ (822,221)	$ (749,401)	$ (963,627)	$ (749,401)
Reissued Shares (in shares)	57,000	52,000	166,000	56,000	47,000	177,000
Reissued Shares	$ 1,462	$ 1,439	$ 4,778	$ 1,755	$ 1,380	$ 5,260
Repurchased Shares (in shares)	(1,045,000)	(1,083,000)	(1,459,000)	(589,000)	(3,899,000)	(2,200,000)
Repurchased Shares	$ (36,776)	$ (35,713)	$ (36,769)	$ (10,886)	$ (98,395)	$ (78,080)
Ending balance - treasury (in shares)	(37,356,000)	(36,368,000)	(35,337,000)	(32,046,000)	(31,513,000)	(27,661,000)	(37,356,000)	(32,046,000)
Ending balance	$ (1,065,206)	$ (1,029,892)	$ (995,618)	$ (928,367)	$ (919,236)	$ (822,221)	$ (1,065,206)	$ (928,367)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 41,039	$ 41,039	$ 41,039	$ 41,039	$ 41,039	$ 41,039	$ 41,039	$ 41,039
Beginning balance - common (in shares)	82,079,000	82,079,000	82,079,000	82,079,000	82,079,000	82,079,000	82,079,000	82,079,000
Ending balance	$ 41,039	$ 41,039	$ 41,039	$ 41,039	$ 41,039	$ 41,039	$ 41,039	$ 41,039
Ending balance - common (in shares)	82,079,000	82,079,000	82,079,000	82,079,000	82,079,000	82,079,000	82,079,000	82,079,000
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 343,016	$ 337,103	$ 338,814	$ 332,823	$ 331,055	$ 332,244	$ 338,814	$ 332,244
Stock-Based Compensation	6,889	6,886	5,460	4,960	2,484	6,587
Reissued Shares	(2,099)	(973)	(7,171)	(2,141)	(716)	(7,776)
Ending balance	347,806	343,016	337,103	335,642	332,823	331,055	347,806	335,642
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,239,486	1,202,268	1,154,235	1,102,145	1,082,661	1,055,526	1,154,235	1,055,526
Net Earnings	35,012	37,218	48,033	16,005	19,484	27,135
Ending balance	$ 1,274,498	$ 1,239,486	$ 1,202,268	$ 1,118,150	$ 1,102,145	$ 1,082,661	$ 1,274,498	$ 1,118,150

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Sep. 30, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Accounts Payable		$ 16,547	$ 14,386
Accrued Salaries and Benefits		22,858	21,366
Accrued Sales and Personal Property Taxes		12,311	13,517
Income Taxes Payable		3,166	1,287
Uncertain Tax Positions		54,030	51,110
Accrued Vendor Rebates		6,261	9,320
Other Accrued Expenses and Liabilities		31,362	24,039
Accounts Payable and Accrued Expenses		$ 146,535	$ 135,025
FTC Inquiry
Income Tax Contingency [Line Items]
Payments for legal settlements	$ 175,000

SEGMENTS

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

SEGMENTS

As of September 30, 2023, the Company has two reportable segments: Progressive Leasing and Vive.

Progressive Leasing partners with traditional and e-commerce retailers, primarily in the consumer residential electronics, furniture and appliance, jewelry, mobile phones and accessories, mattresses, and automobile electronics and accessories industries to offer a lease-purchase solution primarily for customers who may not have access to traditional credit-based financing options. It does so by offering leases with monthly, semi-monthly, bi-weekly and weekly payment frequencies.

Vive offers a variety of second-look financing programs originated through third-party federally insured banks to customers of participating merchants and, together with Progressive Leasing, allows the Company to provide POS partners with near-prime and below-prime customers one source for financing and leasing transactions.

Four is an innovative BNPL company that allows shoppers to pay for merchandise through four interest-free installments. Four is not a reportable segment for the three and nine month periods ended September 30, 2023 and 2022 as its financial results are not material to the Company's condensed consolidated financial results. The revenues, loss before income taxes, and assets within Other below are primarily comprised of the operating activities of Four.

Disaggregated Revenue

The following table presents revenue by source and by segment for the three months ended September 30, 2023 and 2022:


	Three Months Ended September 30, 2023								Three Months Ended September 30, 2022
(In Thousands)	Progressive Leasing		Vive		Other		Total		Progressive Leasing		Vive		Other		Total
Lease Revenues and Fees1	$	564,183	$	—	$	—	$	564,183	$	606,585	$	—	$	—	$	606,585
Interest and Fees on Loans Receivable2	—		17,547		1,147		18,694		—		18,392		844		19,236
Total	$	564,183	$	17,547	$	1,147	$	582,877	$	606,585	$	18,392	$	844	$	625,821

1 Revenue within the scope of ASC 842, Leases.

2 Revenue within the scope of ASC 310, Receivables.

The following table presents revenue by source and by segment for the nine months ended September 30, 2023 and 2022:


	Nine Months Ended September 30, 2023								Nine Months Ended September 30, 2022
(In Thousands)	Progressive Leasing		Vive		Other		Total		Progressive Leasing		Vive		Other		Total
Lease Revenues and Fees1	$	1,776,104	$	—	$	—	$	1,776,104	$	1,930,843	$	—	$	—	$	1,930,843
Interest and Fees on Loans Receivable2	—		51,887		2,872		54,759		—		53,026		1,860		54,886
Total	$	1,776,104	$	51,887	$	2,872	$	1,830,863	$	1,930,843	$	53,026	$	1,860	$	1,985,729

1 Revenue within the scope of ASC 842, Leases.

2 Revenue within the scope of ASC 310, Receivables.

Measurement of Segment Profit or Loss and Segment Assets

The Company evaluates performance and allocates resources based on revenues and earnings (loss) before income taxes from operations. The Company determines earnings (loss) before income tax expense for all reportable segments in accordance with U.S. GAAP. A portion of interest expense is allocated from the Progressive Leasing segment to the Vive segment based on the balance of outstanding intercompany debt.

The Company incurred various corporate overhead expenses for certain executive management, finance, treasury, tax, audit, legal, risk management, and other overhead functions during the three and nine months ended September 30, 2023 and 2022. Corporate overhead expenses incurred are primarily reflected as expenses of the Progressive Leasing segment and an immaterial amount was allocated to the Vive segment and Other. The allocation of corporate overhead costs to Progressive Leasing, Vive and Other is consistent with how the chief operating decision maker analyzed performance and allocated resources among the segments of the Company during the three and nine months ended September 30, 2023 and 2022. The following is a summary of earnings before income tax expense by segment:


	Three Months Ended September 30,
(In Thousands)	2023		2022
Earnings Before Income Tax Expense:
Progressive Leasing	$	53,941	$	43,492
Vive	565		1,376
Other	(6,397)		(17,520)
Total Earnings Before Income Tax Expense	$	48,109	$	27,348


	Nine Months Ended September 30,
(In Thousands)	2023		2022
Earnings Before Income Tax Expense:
Progressive Leasing	$	180,414	$	112,956
Vive	4,486		9,154
Other	(17,190)		(27,597)
Total Earnings Before Income Tax Expense	$	167,710	$	94,513

The following is a summary of interest expense, net by segment:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In Thousands)	2023		2022		2023		2022
Interest Expense, Net:
Interest Expense:
Progressive Leasing	$	9,745	$	9,683	$	29,115	$	28,972
Vive	112		98		569		287
Other	—		—		—		—
Intercompany Elimination	(195)		(98)		(652)		(287)
Interest Income:
Progressive Leasing	$	(2,999)	$	(318)	$	(7,052)	$	(559)
Vive	—		—		—		—
Other	(83)		—		(83)		—
Intercompany Elimination	195		98		652		287
Total Interest Expense, Net	$	6,775	$	9,463	$	22,549	$	28,700

The following is a summary of total assets by segment:


(In Thousands)	September 30, 2023		December 31, 2022
Assets:
Progressive Leasing	$	1,315,442	$	1,309,487
Vive	145,901		155,846
Other	27,814		26,576
Total Assets	$	1,489,157	$	1,491,909

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

RESTRUCTURING EXPENSES - Summary of Accruals of Restructuring Programs (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 3,103
Charges	1,958
Cash Payments	(2,661)
Restructuring reserve, ending balance	2,400
Severance
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	3,061
Charges	1,983
Cash Payments	(2,657)
Restructuring reserve, ending balance	2,387
Other Restructuring Activities
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	42
Charges	(25)
Cash Payments	(4)
Restructuring reserve, ending balance	$ 13

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 68,035	$ 69,264
Lease merchandise, accumulated depreciation and allowances	451,923	467,355
Loans receivable, allowances and unamortized fees	$ 49,754	$ 53,635
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	225,000,000	225,000,000
Common stock, shares issued (in shares)	82,078,654	82,078,654
Treasury stock shares (in shares)	37,356,392	34,044,102

SEGMENTS - Information on Segments and Reconciliation to Earnings Before Income Tax Expense from Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total Earnings Before Income Tax Expense	$ 48,109	$ 27,348	$ 167,710	$ 94,513
Total Interest Expense, Net	6,775	9,463	22,549	28,700
Total Assets	1,489,157		1,489,157		$ 1,491,909
Operating Segments
Segment Reporting Information [Line Items]
Total Assets	1,489,157		1,489,157		1,491,909
Intercompany Elimination
Segment Reporting Information [Line Items]
Interest Expense	(195)	(98)	(652)	(287)
Interest Income	195	98	652	287
Progressive Leasing \| Operating Segments
Segment Reporting Information [Line Items]
Total Earnings Before Income Tax Expense	53,941	43,492	180,414	112,956
Interest Expense	9,745	9,683	29,115	28,972
Interest Income	(2,999)	(318)	(7,052)	(559)
Total Assets	1,315,442		1,315,442		1,309,487
Vive \| Operating Segments
Segment Reporting Information [Line Items]
Total Earnings Before Income Tax Expense	565	1,376	4,486	9,154
Interest Expense	112	98	569	287
Interest Income	0	0	0	0
Total Assets	145,901		145,901		155,846
Other \| Operating Segments
Segment Reporting Information [Line Items]
Total Earnings Before Income Tax Expense	(6,397)	(17,520)	(17,190)	(27,597)
Interest Expense	0	0	0	0
Interest Income	(83)	$ 0	(83)	$ 0
Total Assets	$ 27,814		$ 27,814		$ 26,576

BASIS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 65,544	$ 81,898	$ 69,264	$ 71,233
Net Book Value of Accounts Written Off	(87,622)	(109,203)	(256,820)	(302,945)
Recoveries	8,654	8,736	30,400	27,623
Accounts Receivable Provision	81,459	104,303	225,191	289,823
Ending Balance	$ 68,035	$ 85,734	$ 68,035	$ 85,734

SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Information on Segments and Reconciliation to Earnings Before Income Taxes from Continuing Operations

The following table presents revenue by source and by segment for the three months ended September 30, 2023 and 2022:


	Three Months Ended September 30, 2023								Three Months Ended September 30, 2022
(In Thousands)	Progressive Leasing		Vive		Other		Total		Progressive Leasing		Vive		Other		Total
Lease Revenues and Fees1	$	564,183	$	—	$	—	$	564,183	$	606,585	$	—	$	—	$	606,585
Interest and Fees on Loans Receivable2	—		17,547		1,147		18,694		—		18,392		844		19,236
Total	$	564,183	$	17,547	$	1,147	$	582,877	$	606,585	$	18,392	$	844	$	625,821

1 Revenue within the scope of ASC 842, Leases.

2 Revenue within the scope of ASC 310, Receivables.

The following table presents revenue by source and by segment for the nine months ended September 30, 2023 and 2022:


	Nine Months Ended September 30, 2023								Nine Months Ended September 30, 2022
(In Thousands)	Progressive Leasing		Vive		Other		Total		Progressive Leasing		Vive		Other		Total
Lease Revenues and Fees1	$	1,776,104	$	—	$	—	$	1,776,104	$	1,930,843	$	—	$	—	$	1,930,843
Interest and Fees on Loans Receivable2	—		51,887		2,872		54,759		—		53,026		1,860		54,886
Total	$	1,776,104	$	51,887	$	2,872	$	1,830,863	$	1,930,843	$	53,026	$	1,860	$	1,985,729

1 Revenue within the scope of ASC 842, Leases.

2 Revenue within the scope of ASC 310, Receivables.

The following is a summary of earnings before income tax expense by segment:


	Three Months Ended September 30,
(In Thousands)	2023		2022
Earnings Before Income Tax Expense:
Progressive Leasing	$	53,941	$	43,492
Vive	565		1,376
Other	(6,397)		(17,520)
Total Earnings Before Income Tax Expense	$	48,109	$	27,348


	Nine Months Ended September 30,
(In Thousands)	2023		2022
Earnings Before Income Tax Expense:
Progressive Leasing	$	180,414	$	112,956
Vive	4,486		9,154
Other	(17,190)		(27,597)
Total Earnings Before Income Tax Expense	$	167,710	$	94,513

The following is a summary of interest expense, net by segment:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In Thousands)	2023		2022		2023		2022
Interest Expense, Net:
Interest Expense:
Progressive Leasing	$	9,745	$	9,683	$	29,115	$	28,972
Vive	112		98		569		287
Other	—		—		—		—
Intercompany Elimination	(195)		(98)		(652)		(287)
Interest Income:
Progressive Leasing	$	(2,999)	$	(318)	$	(7,052)	$	(559)
Vive	—		—		—		—
Other	(83)		—		(83)		—
Intercompany Elimination	195		98		652		287
Total Interest Expense, Net	$	6,775	$	9,463	$	22,549	$	28,700

The following is a summary of total assets by segment:


(In Thousands)	September 30, 2023		December 31, 2022
Assets:
Progressive Leasing	$	1,315,442	$	1,309,487
Vive	145,901		155,846
Other	27,814		26,576
Total Assets	$	1,489,157	$	1,491,909